Promoting information technology (IT) industry and identifying the critical success factors contributing to the success of IT companies are of special concerns for the Vietnamese government. This conceptual framework is formed to explore "The key determinants of success of software companies in Vietnam". A number of factors have been identified from reviewing of relevant literature for an investigation. They are: vision, operation capacity, founder personality, finance, and employee ability. This coming research will use quantitative research method, conducted from surveying of 120 managers of 55 software companies in Vietnam. However, due to the nature of this conceptual paper, the results will not be analyzed and discussed in the paper until the ending of this project in August, 2012. The research will contribute to better understanding of existing literature related to factors contributing to success of software companies in Vietnam.