Japan - Potential market for Vietnam’s IT firms

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FPT - one of Vietnam's leading technology groups, on March 13 launched its sixth representative office in Hamamatsu city, Shizuoka prefecture. Previously, in 2017, CMC group opened an office in Yokohama city, Kanagawa prefecture. 

Cutting ribbon to inaugurate the sixth representative office of FPT in Hamamatsu city, Shizuoka prefecture.

Smaller-scale Vietnamese IT firms also plan to invest in other regions of Japan after opening branches in Tokyo and Nagoya. 

According to FPT Chairman Truong Gia Binh, Japan is a potential market  for IT companies, with about  20 Vietnamese IT enterprises having opened offices in the market so far. 

For FPT, the Japanese market accounts for more than half of its global revenue. The firm has over 400 Japanese customers, including 50 of the world’s biggest businesses. FPT has maintained annual growth of 30 percent in the market. 

The Vietnam Software and IT Services Association is encouraging the trend, which is hoped to lay a foundation for turning Vietnam into a software-export country, he noted. 

Talking about advantages for Vietnamese IT companies when investing in Japanese market, Binh said similarities in culture and strong diplomatic and socio-economic ties between the two countries help Vietnamese operate in the market. 

Vietnam can also help rejuvenate the workforce in Japan with its young population and low labour costs. Vietnam is a supply source of new technologies, artificial intelligence, robotics and data analysis that many Japanese companies want, he added. 

Vietnam is estimated to earn 1 billion USD from exporting software by 2020.

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