Vietnam’s Software Industry Thrives Amidst the Covid Pandemic

Nov 2021

Although the Covid-19 pandemic severely affected many companies, it has created new opportunities for several industries in Vietnam, including software.

  • In the first half of 2021, FPT Corporation, one of the leading technology companies in the Southeast Asian nation, reported a 20.9% growth in pre-tax profits compared to the same period of 2020. Specifically, its pre-tax profits reached around USD 127.7 million on a turnover of USD 705.6 million.
  • Another ICT company, CMC Group, also reported a significant increase in revenues and earnings in the second quarter of 2021. Despite the pandemic, CMC continued to expand its business and attract more clients. The company’s combined revenues climbed by 5.8% to USD 215 million, while the overall exports increased by 3.4% to USD 175.9 million.

Sectors relying on physical services and in-person clients, such as hospitality and tourism, have been damaged by stay-home restrictions and company closures. However, ICT companies appear to thrive as demands for electronic devices and software significantly increase.

The Covid-19 pandemic promoted people’s daily screen time by a third and accelerated companies’ adoption of digital technology by several years, resulting in the software sector experiencing higher than expected growth. Apart from technology, data, and process, organizational change is also a key factor in digital transformation contributing to accelerating software development.


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Orissa International helps companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 companies that includes distributors, resellers, system integrators and local manufacturers, that we have built through advising and guiding more than 5,000 companies with their market expansion into the ASEAN region over the last 25 years.

Orissa International is headquartered in Singapore, with additional offices in Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

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