Vietnamese IT firms thrive during Covid-19

All business fields have been affected by the epidemic, but IT firms are believed to have bright prospects as they have adapted to the new circumstances.

Soon after the epidemic broke out in Vietnam, many IT firms began going online.

“Our staff began working from home on March 26. Only the workers of the administrative division go to the office in shifts to maintain normal operation,s” said Duy Tran from KMS Technology.

At MISA, a rehearsal of 2,000 workers working from home was carried out on March 30, or two days before the social distancing policy took effect. The great advantage of the firm is the ERP (enterprise resource planning) solution developed by MISA, which uses high technology to work from a distance.

Prior to that, Dinh Thi Thuy, CEO of MISA, sent a letter to all workers that the company would not lay off workers and cut salaries.

IT firms have introduced new services and solutions useful for businesses during the epidemic. Lac Viet, for example, has launched an app for online meeting and training. M.Tech and Cisco Vietnam have cooperated to offer attractive preferences to clients who buy sets of remote working solutions.

Technology startups are also busy these days, working on solutions. The Ministry of Science and Technology (MST) said more than 90 startups have registered to provide digital technology solutions to help businesses and individuals maintain their normal operation during the epidemic.

Vulcan Augmetics provides a platform that allows medical units to order equipment. Covid-19 Check developed by Got It helps users check coronavirus inspection possibility. Done Pro Vietnam has introduced a contactless solution of delivering goods to multistory buildings with drones.

A survey by TopDev about Vietnam’s technology firms in Covid-19 found that IT firms have not been affected much by the epidemic, but they have restricted unnecessary activities in order to maintain cash flow.

Sixty six percent of IT firms adjusted to the new circumstances very quickly in Q1. They maintained normal operation, designed new working processes, and applied a distance working regime.

At FPT, the largest Vietnamese IT corporation, FPT President Truong Gia Binh on April 13, for the first time in the last 32 years, stated that the corporation has shifted to a ‘wartime working mode’.

About 22 percent of technology firms said they have cut costs to ensure cash flow. KMS Technology said it has postponed the periodic salary increase plan.

About 7 percent of IT firms said they have laid off workers in their plan to streamline staff. Meanwhile, 5 percent have suspended operation, closed or declared bankruptcy.