Vietnam has been very successful in the field of software outsourcing in recent years. International friends have considered Vietnam as "Software Development Hub" in Asia for outsourcing development. The long-term goal of Vietnam today is to become an "Innovation Hub" in Southeast Asia. “Are Vietnamese businesses ready to research and produce new products instead of just focusing on outsourcing?” was the question discussed in the press conference of Vietnam ITO Conference 2019, which took place on August 27, 2019.

The world is changing very fast

When talking about creativity, people often talk about technology, Mr. Nguyen Ba Quynh - Senior Vice President - General Manager of Global CyberSoft Vietnam (GCS), a company of Hitachi Consulting Corporation said: “In 2018, the majority of companies on the BCG Innovation survey list of the world's top innovative companies (The Boston Consulting Group) are technology companies. Creativity now changes very quickly, so creativity needs to be fast. In the Second Industrial Revolution, it took 70 years for 50% of US households to have a landline phone, but Apple needed only 4 years to do the same job with the iPod. New technologies and new products are being received by consumers at an increasingly fast pace. Creativity today has the ability to generate revenue globally at a rate calculated by the day, month. Speed has to be the top priority, should Vietnam wants to become an innovative destination.”

According to Mr. Nguyen Cong Ai - Vice President KPMG Vietnam: KPMG recently surveyed over 300,000 businesses globally, including Vietnam. Business size is no longer important. Small businesses are the place with the most breakthrough solutions, attracting the best talents. This is the advantage of Vietnamese businesses. In the recent survey, all surveyed businesses responded that they have increased their investment in technology, especially in digital transformation, cybersecurity, artificial intelligence (AI), internet of thing (IoT). At the present, as the world is changing very quickly, speed is considered the decisive factor to bring competitive advantage to businesses.

Researching and creating new products is the key in the 4.0 Industry

Processing, R&D or making products and solutions are different services in the field of technology. Many companies have chosen to develop from processing in order to accumulate experience, technology, finance and market, etc., before investing in making products.

TMA - Southeast Asia's leading telecommunications software company with over 2,400 engineers and multiple customers from 27 countries – has been fortunate to have opportunities to work with high-tech corporations of the world, thereby getting access to the latest technologies.

Mr. Tran Phuc Hong, Vice President of TMA Solutions said: “From learning new technologies, TMA has established TMA Innovation Center (corporate incubator) to develop new products and solutions based on 4.0 technologies. TMA has implemented more than 30 technology projects for both domestic and foreign customers that are some of very few software companies in Southeast Asia with over 300 engineers working on 4.0 technologies such as artificial intelligence, data science, Blockchain, IoT for customers in the US, Canada, Europe, Japan, Australia in the fields of telecommunications, electronics, cars, e-commerce, healthcare, pharmaceuticals and agriculture.

Established in Vietnam for 15 years, LogiGear is also a pioneer in researching and producing products. “We invest in product research and development as an integral part of the Group's innovation leadership. Today, our strategic product, TestArchitect, the enterprise version, is a software testing tool that uses automation technology capable of cross-platform testing in various fields such as petroleum, security, insurance, finance - banking, e-commerce, comprehensive enterprise management software (ERP), games and entertainment, manufacturing, etc. We are providing TestArchitect automated testing tools for North America, Europe and Asia-Pacific markets and are about to announce and market our new product, TestArchitect Gondola, to global markets this fall (2019). TestArchitect Gondola is a tool that helps solve automated testing problems for emulation, cloud and mobile software for iOS and Android effectively, saving more time and money for businesses” said Mr. Hung Q. Nguyen - CEO of LogiGear.

As for NashTech, nowadays, the projects with customers are no longer just outsourcing. In many projects, NashTech first consults solutions for customers, then proceeds to implement the solution, no longer simply doing outsourcing as before. Therefore, NashTech's strategy in the coming time will be investing in developing technological capacity, especially new technologies, to elevate the company to a technology solution provider and in start-ups which develop technology products for the market.

VNITO enterprises are currently gathering hundreds of new solutions and technologies during the next month to provide to potential customers joining the conference so that companies, factories and banks can choose appropriate solutions. Vietnamese businesses have had many solutions in many fields such as health care, e-commerce, high-tech agriculture, etc. Many businesses have even implemented those solutions abroad, thereby, proving that Vietnam is an outstanding destination for innovation in Southeast Asia.

Source: QTSC