[Sydney, May 6th] - ICTS Custom Software, together with leaders in Australia and Vietnam IT Industries, is proud to co-organize the event Vietnam IT Day 2024 in Sydney. This year's event brought the mission to foster the Australia - Vietnam partnership, focusing on innovation and technology. The event successfully occurred on May 6th, 2024, at PWC Australia headquarters, One International Towers Sydney, Watermans Quay, Barangaroo NSW 2000, Australia.
Fostering Australia - Vietnam tech partnership
Vietnam IT Day 2024 in Sydney was organized by GITS, Group of IT Sharing - 3rd biggest IT association in Vietnam, marking the third year GITS has hosted Vietnam IT Day in Australia. The success of the event was significantly bolstered by a robust network of industry partners on both sides of the Pacific.
This year's event gathered over 200 delegates, including representatives from the Australian government, Vietnamese and Australian tech companies. The event was hosted at PwC Australia, with the support of other sponsors from Australian organizations including The Australian Trade and Investment Commission (Austrade), Nash Tech, KMS Technology, etc. The event is also benefited from the active support of community partners: VNITO, ITPA, Tech Australia Advocates, Australian-Vietnam Leadership Dialogue, Business NSW, etc.
Under the theme of "Innovation & Technology: Fostering the Australia-Vietnam Partnership," this year's event offers an extensive exploration of Vietnam's IT development, human resources, and competitive advantages in the sector to help Australian businesses better understand the potential of Vietnamese companies.
Vietnam IT Day 2024 offered a comprehensive agenda designed to foster collaboration between Vietnamese and Australian tech sectors. The morning session kicked off with opening remarks and introductions, followed by presentations delving into Vietnam's dynamic tech landscape, the current state of digitalization, and opportunities in manufacturing technology and talent solutions. The afternoon focused on Australia's innovation scene, strategies for Australian market success, and best practices for collaboration between Vietnamese and Australian companies. The day concluded with a networking session to solidify connections and propel future partnerships.
Vietnam’s Tech Landscape
Opening the presentation, Mr. Tuan Le - Practice Director at NashTech, highlighted Vietnam as a top destination for software development due to its attractive location for offshoring. This country is in the top 10 countries to outsource software development and ranked 7th in the Kearney Global Services Location Index. Forbes saw Vietnam as a small but mighty outsourcing powerhouse for its highly skilled & competent workforce with competitive labor costs.
According to representatives from KMS Technology, MFast, Do Ventures and GCOMM, Vietnam's tech scene is booming, with a young, skilled workforce and government backing. While competition is fierce and the domestic market is small, Vietnam offers competitive costs and a growing focus on global standards. This makes it an attractive destination for foreign companies looking to collaborate.
From the Australian businesses’ side, Vietnam's tech sector is attractive with its skilled workforce and affordability. While language barriers are not an obstacle for Australian companies coming to Vietnam now, cultural differences in communication can pose challenges. Building relationships and finding local partners are key to success for Australian firms seeking Vietnamese tech talent.
Best Practices For Collaboration Between Vietnamese And Australian Companies
This concern was discussed in panel discussions No.3 & 4 which focused on the potential for collaboration between tech firms in the two countries.
Australia is looking for innovative solutions from Vietnamese companies, while Vietnam can benefit from Australian expertise and connections to larger markets. Vietnamese companies entering the Australian market should focus on market research, finding local partners, and building brand awareness.
Vietnamese and Australian tech startups might face similar struggles in finding talent and reaching global markets. However, their ecosystems differ: Vietnam has a young, government-backed scene, while Australia boasts established hubs. Despite cultural contrasts (Australians are bold, Vietnamese are careful), collaboration can harness the best of both worlds for international success.
In addition to networking opportunities, participants at Vietnam IT Day 2024 gained valuable insights into the IT needs of the Australian market, strategies for successful collaboration with Australian partners, and effective business operations in Australia. These insights will prove instrumental for Vietnamese companies seeking to expand their reach into the Australian market.
Presentations from industry experts and Australian consulting firms will equip Vietnamese companies with the knowledge and strategies to effectively collaborate with Australian partners and succeed in the Australian market.
ICTS Custom Software at Vietnam IT Day 2024
This is the second year ICTS accompanied Vietnam IT Day as a co-organizer. In addition to contributing to the success of the event, our CBDO Ms. Ellen Nguyen joined panel discussion No.4, where Vietnamese and Australian tech companies exchanged lessons learned throughout the growth trajectory.
With 10 years of experience in building talents for startups, and tech companies in Vietnam and overseas, she highlighted the challenges during the startup period, key differences between the two markets, and the strategies for international expansion as well.
From her experience as a service provider of software development and HR services, resource optimization is very important for businesses entering a new market, as well as for settled businesses in Australia during the turbulent time.
Regarding key differences between the Australian and Vietnamese markets and startup ecosystems, Ms. Ellen supposed: "The Vietnam market is still developing while Australia is quite maturing. The talent pool and the startup ecosystem are quite dynamic in Vietnam, supported by mass media and the government's policies. But Vietnam still has many things to improve”.
From her viewpoint as a startup founder in both Vietnam and Australia, she emphasized that the Australian startup ecosystem is also dynamic but internally dynamic, which means they have hubs of innovation and people are active in their hubs. She also shared her experience with Australian clients who market their services and products in Vietnam, which they consider their target market now: “In a short amount of time, they could connect with many important stakeholders in government, golf club associations, and so on. Not many Australian startups are aware of the dynamic markets outside of Australia, but once they are, they can go all-in for that. Australians are fearless while Vietnamese are more prudent."
Looking Ahead
Vietnam IT Day 2024 has successfully brought together key players from the Vietnamese and Australian tech ecosystems. The event fostered valuable connections, provided in-depth market insights, and laid the groundwork for future collaboration. By working together, Vietnamese and Australian tech companies can unlock new opportunities, drive innovation on a global scale, and contribute to a more prosperous future.
Whether you are new to Vietnam or looking for business opportunities in this market, feel free to contact us to get valuable insights:
Ellen Nguyen
- Website: icts.io
- Email: ellen@icts.io
- Linkedin: https://www.linkedin.com/in/phuongminhnguyen/
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