A promising start with VINASA
On January 7th, 2025, Verysell Board of Directors and SmartDev Board of Management representatives had the pleasure of meeting with Vietnam Software and IT Services Association (VINASA) at their headquarter in Vietnam, marking an exciting opportunity to strengthen ties and explore synergies in Vietnam’s thriving ICT sector. As a proud member of this vibrant industry, we shared our excitement about the opportunities ahead and reaffirmed our commitment to contributing to Vietnam’s reputation as a global leader in technology and innovation.
SmartDev also acknowledged VINASA’s efforts in facilitating international partnerships and supporting member companies to access prestigious awards, global networks, and technological advancements. We are eager to continue leveraging these opportunities to enhance our capabilities and contribute to the collective progress of Vietnam’s ICT ecosystem.
The meeting brought together esteemed representatives from both organizations:
Verysell Group and SmartDev Representatives:
- Mr. Mikhail Krasnov – Executive Chairman, Verysell Group
- Mr. Petr Krasnov – Group CEO, Verysell Group
- Mrs. Nguyen Ngoc Ha – Marketing Director, SmartDev
- Mr. Dao Huu Hung – Chief AI Scientist, SmartDev
VINASA Representatives:
- Ms. Nguyen Thi Thu Giang – Deputy Chairwoman cum General Secretary
- Ms. Le Thi Anh Tuyet – Program Manager
- Mr. Do Thanh Binh – Program Manager
Mrs. Nguyen Ngoc Ha – Mr. Dao Huu Hung – Mr. Petr Krasnov – Mr. Mikhail Krasnov – Ms. Nguyen Thi Thu Giang – Ms. Le Thi Anh Tuyet – Mr. Do Thanh Binh (left to right)
1. Exploring Vietnam’s ICT Landscape through the Expert lens
The meeting commenced with an insightful overview of Vietnam’s Information and Communication Technology (ICT) industry, showcasing its remarkable growth and potential. (DaiDoanKet, 2025).
In 2024, Vietnam’s ICT sector achieved a record revenue of 3,878,296 trillion VND (151.86 billion USD), reflecting an impressive 11.2% growth from 2023. The export value of hardware and electronics surged to USD 132.341 billion, a year-on-year increase of 11.6%. This phenomenal growth underscores Vietnam’s position as a significant player in the global digital technology market.
The industry now encompasses 54,500 active digital enterprises and employs 1.26 million talented professionals, further solidifying Vietnam’s role as a hub for innovation and technological advancement.
A Vision for the Future
Looking ahead, Vietnam has set ambitious targets for 2025, aiming to achieve ICT revenue of ₫4.32 million trillion and contribute ₫989,016 billion to GDP. Workforce expansion is also a key focus, with projections to exceed 1.5 million professionals by 2025. Strategic policies such as the Vietnam Semiconductor Industry Development Strategy and the Digital Technology Industry Law are expected to further enhance the sector’s global competitiveness and drive sustainable growth.
Strengthening Relationships
The dialogue between SmartDev and VINASA revolved around identifying collaborative opportunities to support these ambitious goals. SmartDev expressed its admiration for VINASA’s pivotal role in shaping Vietnam’s ICT landscape and emphasized its commitment to contributing to the nation’s technological journey. Together, both organizations share a vision of leveraging innovation and expertise to create impactful solutions for the future.
Mr. Mikhail Krasnov and Ms. Nguyen Thi Thu Giang exchanging New Year gifts
2. The Merger of Vietnam’s Ministry of Information and Communications (MIC) with the Ministry of Science and Technology (MST) – Opportunities & Challenges
A significant development discussed during the meeting was the merger of Vietnam’s Ministry of Information and Communications (MIC) with the Ministry of Science and Technology (MST). This strategic move aims to strengthen the country’s digital transformation efforts and position Vietnam as a global leader in technological innovation.
State Management Briefing Conference of the Ministry of Information and Communications (MIC) with provincial Departments of Information and Communications on December 9 2024, under the chairmanship of Minister Nguyen Manh Hung. (Photo source: Le Anh Dung)
2.1. Opportunities
The merger creates numerous opportunities for Vietnam’s ICT and technology sectors. By consolidating resources and expertise, the new entity is expected to:
- Streamline Decision-Making: The unified ministry can make cohesive and timely decisions, ensuring faster implementation of technological initiatives.
- Enhance Synergies: Combining the strengths of both ministries fosters collaboration across sectors such as AI, data analytics, and semiconductor development, aligning with global trends.
- Boost Digital Infrastructure Development: With integrated planning and execution, the ministry can drive robust investments in digital infrastructure, critical for scaling innovations.
- Support Policy Innovation: The merger enables the creation of comprehensive policies addressing both scientific advancements and technological applications, strengthening Vietnam’s global competitiveness.
2.2. Challenges
While the merger is a bold step, it also presents significant challenges:
- Organizational Integration: Combining two large institutions with distinct operational cultures and workflows requires careful planning to ensure seamless integration.
- Staff Concerns: Employees may face uncertainties regarding roles, responsibilities, and job security, necessitating transparent communication and change management strategies.
- Leadership Collaboration: Effective collaboration between former leaders of MIC and MST is crucial to prevent conflicts and ensure unified direction.
- Transition Period: The restructuring process might temporarily slow down ongoing projects, requiring strategic prioritization to maintain momentum.
Minister Nguyen Manh Hung (Photo source: Le Anh Dung)
On digital transformation, Minister Nguyen Manh Hung encouraged a mindset shift to simplify complex challenges: “Building data warehouses is not difficult; writing applications is incredibly easy. Departments should outsource such tasks to businesses. The key task is transferring data from old storage to new storage while ensuring data warehouses grow over time.” (Vietnamnet global, 2024).
3. AI and Semiconductor Industry in Vietnam
Another key topic of discussion during the meeting was the rapid development of Vietnam’s AI and semiconductor industry, which is poised to become a critical pillar of the nation’s technological growth. Vietnam’s semiconductor market reached $17.24 billion in 2023 and is forecasted to grow at a CAGR of 11.03% through 2027. The country is ranked among the top four Asian countries exporting semiconductors to the United States, underscoring its rising influence in the global supply chain.
Source: Source of Asia
Strategic Initiatives Shaping the Future
Vietnam is intensifying its focus on AI chip production through strategic partnerships with global leaders such as Nvidia. These collaborations aim to accelerate the development of cutting-edge AI technologies and solidify Vietnam’s role in the global semiconductor supply chain.
Emerging innovation hubs like Da Nang and Binh Dinh are driving this transformation, establishing themselves as centers of excellence for semiconductor and AI research and development. These hubs are fostering a culture of innovation, attracting top talent and investments to the region.
Additionally, Landmark projects like Intel’s $475 million microelectronics facility and TSMC (Taiwan Semiconductor Manufacturing Company), the world’s largest semiconductor foundry, is set to establish operations in Vietnam in 2025. This move is expected to significantly enhance Vietnam’s capabilities in semiconductor manufacturing and bolster its position in the global market.
Notable Projects Driving Transformation
Binh Dinh is undergoing a remarkable transformation into a premier science city. With substantial investments by leading corporations such as FPT and TMA Solutions, the city is becoming a hub for AI-driven initiatives and cutting-edge research.
FPT’s recent launch of an AI Center project in central Vietnam further underscores the country’s commitment to leveraging artificial intelligence for urban innovation and economic development.
In partnership with Saigon High-Tech Park, Synopsys has committed to providing advanced training for Vietnamese engineers and donated technology licenses valued at $20 million.
This project not only enhances workforce capabilities but also strengthens Vietnam’s standing as a hub for semiconductor design and innovation.
These initiatives are laying the groundwork for Vietnam to emerge as a leader in AI and semiconductor technologies.
Source: Source of Asia
4. Global Awards and Memberships
VINASA’s active participation in prestigious global ICT organizations such as the Asian-Oceanian Computing Industry Organization (ASOCIO), the World Information Technology and Services Alliance (WITSA), and the Asia Pacific ICT Alliance (APICTA) underscores Vietnam’s commitment to international cooperation and excellence.
These affiliations offer member companies, including SmartDev, unique opportunities to gain international exposure, participate in global awards programs, and achieve recognition for their technological innovations. Through these memberships, VINASA provides a platform for showcasing Vietnam’s achievements in the global ICT landscape while fostering collaboration with international stakeholders.
Participation in these global platforms reinforces SmartDev’s commitment to delivering world-class solutions while benefiting from the knowledge exchange, networking, and visibility these memberships provide. These achievements highlight Vietnam’s dedication to shaping the future of ICT through collaboration, innovation, and excellence.
Mr. Do Thanh Binh – Mr. Dao Huu Hung – Mrs. Nguyen Ngoc Ha – Mr. Mikhail Krasnov – Ms. Nguyen Thi Thu Giang – Mr. Petr Krasnov – Ms. Le Thi Anh Tuyet (left to right)
Looking Forward to the ICT future together
The meeting between SmartDev and VINASA has laid a strong foundation for a collaborative and innovative future. Both organizations share a commitment to advancing Vietnam’s ICT and technological sectors while fostering global competitiveness.
SmartDev is deeply inspired by VINASA’s vision and leadership in the industry and looks forward to building on this partnership to achieve shared goals. With a shared dedication to excellence and progress, SmartDev and VINASA stand ready to tackle new challenges, embrace emerging technologies, and pave the way for a thriving and globally recognized ICT industry in Vietnam. Together, we aim to explore new opportunities, drive impactful solutions, and contribute to the continued growth and success of Vietnam’s technology landscape.
Looking back, we’re thrilled to share our incredible achievement at the prestigious Sao Khue Awards! Learn how SmartDev’s innovative solutions and dedication to excellence earned us not one, but two remarkable honors.
As we move forward, SmartDev remains dedicated to fostering innovation, collaboration, and excellence in all its endeavors, with VINASA as a valued partner in this journey. The future holds immense potential, and we are excited to embark on this path together.
