Booming IT and electronics market revenues top $3.1bil last year
15:23' 10/04/2008 (GMT+7)

VietNamNet Bridge – IT and electronics consumers are considered the hottest market in Vietnam and across the world, with total retail revenues in 2007 reaching US$3.1bil, a year-on-year increase of 29.2%, according to the GfK Group's research.

The above data was announced at the Viet Nam Consumer Electronics Expo (VCE) 2008, from April 8 to 12, which was organised by the International Data Group and the Ha Noi ICT Association.

Located at the International Exhibition Centre in Hanoi, the expo aimed to demonstrate the digital conversion of Information and Communication Technology (ICT) and consumer electronics.

VCE 2008 brought in many multi-national firms and large local companies in the fields of IT, Telecommunications and Consumer Electronics, with over 200 stalls creating opportunities for both domestic and foreign managers and policy makers. The expo also offered a venue for associations, enterprises and experts to share and discuss the potential of Vietnam's IT development.

Prime Minister Nguyen Tan Dung ratified the 2010-20 IT development strategy and decided on a ratio of 1% of the State budget for IT improvement.

According to an IDG Vietnam study, IT services in Vietnam would develop sharply in the near future and would rank second in the Asia region, after India.

Vietnam would become an attractive market compared with others in the region, due to large individual expenses in telecommunications and the Government's support, said IDG Vietnam country director Nguyen Lam.

(Source: Viet Nam News)

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