Vietnam's gaming industry aims for $1 billion in revenue by 2028
Vietnam's gaming industry aims for $1 billion in revenue by 2028
The Vietnamese gaming industry has a lot of advantages to be able to compete with other countries.
Vietnam's gaming industry will continue to develop according to its potential, aiming for a turnover of US$1 billion by 2028, according to Le Quang Tu Do, Director of the Department of Broadcasting and Electronic Information under the Ministry of Information and Communications.
Delegates attend the panel discussion at the Vietnam GameVerse 2024. Photos: Vietnam GameVerse |
Speaking at the opening ceremony of Vietnam GameVerse 2024 on May 11, Tu Do said that the number of participants in this year's GameVerse has tripled compared to 2023, including not only large companies but also small and medium-sized enterprises in Vietnam, creating a united gaming community.
"In addition, the gaming industry has received significant support from two major international companies and eight foreign companies, with the number of international participants increasing fivefold compared to 2023," he said.
Tu Do also mentioned that after the success of GameVerse 2023, they convinced the government not to impose special consumption taxes on the gaming sector, as it is a potential industry that needs government support.
The authority has also run communication campaigns to show that gaming is not just about entertainment and addiction, but also a source of talent for eSports, as evidenced by Vietnamese successes in events such as the Southeast Asian Games (SeA Games). "This is aimed at changing society's perception of the gaming industry," he said.
Tu Do emphasized that games are a value-creating industry and that parents should encourage their children to study and work in game-related fields, such as game programming and graphics, to contribute to the industry's startups and human resources.
"We have effective measures in place to limit the negative aspects of gaming, and our campaigns and contributions have yielded positive results so far," he said.
Last year, the authority worked with the Posts and Telecommunications Institute of Technology in Vietnam to teach a regular university-level gaming program. This is the only and first university in Vietnam to offer such training, he said.
"All of these factors make us confident that Vietnam's gaming industry will continue to develop to its full potential," said Do.
Speaking at the event, Emily Nguyen, Head of Sales for Google Ads - Gaming and Apps Vietnam at Google, judged that Vietnam's gaming industry has many advantages to compete with other countries. She cited that Vietnam ranks among the top five countries in the world regarding app downloads, with over 35,000 game programmers, a number comparable to China.
She said the game programming team in Vietnam is young, technically skilled, and highly proficient in mathematical analysis and programming.
A large number of visitors take part in activities during the event. |
Vietnam has the advantage of affordable game launches and competitive labor costs. Vietnamese game companies excel at identifying trends and developing games based on market demand.
While some have said that most Vietnamese games lack the appeal of foreign games, La Xuan Thang, Director of online game publishing at VNGGames, said that many products from Vietnamese game publishers have ranked among the top five in the Southeast Asian region.
"Although the quality of products in Vietnam is not yet up to global standards and has a short lifespan, any success requires a process and taking one step at a time," he emphasized.
