Business urged to take a pioneering role in digital transformation (Vietnam Plus)

Experts speak at the forum in Ha Noi on Wednesday.
Source: VNS/Vietnam Plus

As digital transformation was vital for the development of Vietnam’s economy, local businesses had no other choice than joining to benefit from the trend, a top economics journalist has said.

Speaking at a forum in Hanoi on November 11, Chu Van Lam, editor-in-chief of Editor in Chief of the Thoi bao Kinh te Viet Nam (Vietnam Economic Times), said: “Enterprises are the core of the economy, can not outside the digital, especially in the context of the pandemic which is changing the world with a transition towards the digital economy.”

The forum, held by Vietnam Economic Times and local investment promotion alliance Invest Global, aimed to identify and evaluate the reality of digital transformation activities of enterprises in different industries and proposed solutions to help businesses speed up digital transformation.

According to the organisers, the Government has approved the National Digital Transformation Programme to 2025, with a vision to 2030 with the goal of making Vietnam a digital country, adding that such transformation process could help businesses reduce costs, control risks, improve labour and business efficiency and reach customers more easily.

Deputy Minister of Foreign Affairs Nguyen Minh Vu quoted the World Economic Forum (WEF) prediction that by 2022, the digital economy would account for 60 percent of the world’s GDP.

Vu said though the prediction was only 7 percent of GDP in ASEAN, the digital economy could be expected to contribute an additional 1 trillion USD to the world economy in the next decade.

Experts at the forum said Vietnam had huge advantages for digital transformation with a population of nearly 100 million, of whom more than 70 percent use the internet, a dynamic technology level and great support from the Government.

Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) and chairman of ASEAN BAC said: “ASEAN is a special partner and an important market for Vietnam with a large area with a population of 650 million people. Therefore, Vietnamese enterprises will not only focus on the value-added chain in the domestic market but also in the region.”

“The organic links between industrial production and digital transformation are extremely important. Vietnam needs to take advantage of digital transformation, companies and industrial corporations in the country must pioneer and embrace advanced technology to create a supply chain of the region,” he added.

Also at the forum, Dang Hoang Hai, director of the Department of E-Commerce and Digital Economy, Ministry of Industry and Trade, said: “In 2015-2019, e-commerce scale increased rapidly with an average growth rate of 30 percent. Online shopping is developing very well this year especially amid the pandemic, which has created a huge number of people participating in the e-commerce market.”

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Vietnam Plus

12 November 2020

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