VnEconomy - A "Reference Point" for Vietnamese Digital Businesses Expanding Globally

Never before have Vietnamese digital technology businesses, with their strong human resources, dynamic and creative engineering teams, and competitive IT service costs, had so many opportunities to expand internationally—especially now, when global market demand is virtually limitless. So, what should Vietnamese digital businesses prepare before entering the global market?

Vietnamese Businesses Possess Numerous Competitive Advantages

Sharing with VnEconomy e-magazine, Mr. Nguyen Tan Minh, Deputy General Director of GMO-Z.com RUNSYSTEM, stated: "Vietnam is currently emerging as one of Asia's new technology hubs, with many startups and technology companies developing strongly. In my opinion, Vietnamese digital technology businesses have many potential opportunities and competitive advantages when entering the global market. Firstly, Vietnam is one of the countries in the region with low labor and production costs. This allows businesses to offer products and services at lower prices compared to competitors in developed markets. Secondly, Vietnam has an abundant workforce, a young, dynamic labor force, many of whom are highly trained in science, technology, business, and marketing. Vietnamese businesses can leverage the talent and intellect of these employees to develop new technology products and services. Thirdly, with the rapid development of its economy, Vietnam is becoming one of the most potential markets for technology businesses. Vietnamese businesses can fully capitalize on this opportunity to develop their business activities and expand their market reach."

Vietnamese businesses possess numerous competitive advantages in the digital transformation "war." However, to leverage these competitive advantages, Vietnamese digital technology businesses need to develop appropriate business strategies, and concurrently focus on investing in research and development to enhance product and service quality, meeting the stringent standards of the international market. To succeed in accessing international markets, Vietnamese digital technology businesses must invest in research and development to improve product and service quality, and clearly understand the target market and customers. Businesses can also seek partners in host countries to accelerate the market penetration process. Furthermore, Vietnamese businesses also need to fully comply with the regulations and legal requirements of the markets they wish to access. For example, to explore the Japanese market—one of the largest markets with significant potential for developing digital transformation solutions—Vietnamese businesses need to pay attention to several important points such as business culture, Japanese language and culture, and legal issues and regulations. See details of the article HERE.