Towards a Strengthened Digital Economy of Vietnam – Key Takeaways from Day 1 of Asia IoT Business Platform Vietnam 2019

Day 1 of the 33rd Edition of Asia IoT Business Platform Vietnam 2019 presented us with insights from both governments and industry leaders among enterprises on their digital transformation plans and initiatives.

Dr. Dang Quang Vinh, Deputy Director, Department of Business Environment & Competitiveness, Central Institute for Economic Management Ministry of Planning and Investment opened the industry gathering with the status of digital transformation and innovation in Vietnam. Dr. Dang shared that the services industry, which includes e-commerce, finance & banking (e-wallet payment with players such as MOMO, Viettelpay…), transportation & logistics (Grab, Be, FastGo), online learning and media are leading the digital transformation journey. He identified a few obstacles which are responsible for the slow rate of digital transformation in Vietnam:- the lack of digital infrastructure, imbalanced distribution of high-quality workforce such as software engineers who mainly work in the IT industry and not manufacturing industry, and lack of policies from the government to encourage digital transformation. To overcome these challenges, the government has recently introduced the Politburo’s Resolution No. 52-NQ/TW, with several guidelines and policies to ensure active participation in Industry 4.0. These guidelines consist of institutional improvement, construction of critical infrastructure elements and governmental support of investment in the digital transformation of enterprises.

Dr. Dang Quang Vinh, Deputy Director, Department of Business Environment & Competitiveness, Central Institute for Economic Management Ministry of Planning and Investment delivering government keynote address

The conversations around government support went deeper during the keynote panel, covering the topic: Strengthening Vietnam’s Digital Economy. The panel consisted of Dr. Dao Dinh Kha, Deputy Director of Department of Information Technology, Dr. Dang Quang Vinh and Mr. Ngo Vinh Quy, Deputy General Director of Viettel Business Solutions and moderated by Mrs. Le Diep Kieu Trang, Founder of Alabaster. According to Mr. Dao, digital economy is all about breakthrough which is something that no one can plan for. If there is breakthrough in technology in one of the industries, it will impact the subs-conscience of both government and enterprises as well as their business models. He further shared that enterprises need to have courage, the right tools and faith in embarking on digital transformation. Mr. Ngo Vinh Quy further expressed a strong urge of government support and higher efficiency in processes and procedures in getting approval as we are now in the era of technology where things are changing rapidly.

Keynote panelists discussing the role of governments and enterprises in promoting digital transformation and strengthening digital economy of Vietnam
(From left to right: Christy Le, Founder of Alabaster, Ex-CEO of Facebook, Ex-CEO of Go-Viet, Dao Dinh Kha, General Director, Department of Information Technology of Ministry of Information and Communication (MIC), Ngo Vinh Quy, Deputy General Director of Viettel Business Solutions, Dang Quang Vinh, Deputy Director, Department of Business Environment & Competitiveness, Central Institute of Economic Management Ministry of Planning and Investment)

EVNGENCO1 and VP Bank Win Vietnam Enterprise Innovation Awards

Over the past 4 years of operating in Vietnam, we have seen rapid development of local enterprise digitalisation and this year we are happy to announce that EVNGENCO1 and VP Bank were selected by our judges as winners of the inaugural annual Enterprise Innovation Awards in Vietnam – which saw over 20 submissions outlining implementation of digitalisation projects by local enterprises in Vietnam.

Mr. Tran Viet Anh, Deputy General Director of EVNGENCO1 and Mr. Phung Duy Khuong, Deputy CEO of VP Bank receiving the Enterprise Innovation Awards

As a leading power generation corporation of Vietnam, EVNGENCO1 has implementing digital transformation initiatives in their operational processes and technical aspects of the business. These initiatives help them save cost and ensure accuracy, safety and stability of the operational processes.

Focusing on customer service and providing convenience for customers, VP Bank embarked on the digital transformation journey 5 years ago. Technology adoption has allowed VP Bank to reinvent new consumer journeys, leverage the power of data and create new operating model for businesses.

Solution providers play a key role in enabling enterprises to leverage on technology to transform their businesses. Partners such as Dell Technologies and Samsung Vina Electronics shared with the local enterprises several examples of the latest successful case studies of enterprise digitalisation they had in the region.

Martin Yates, CTO Digital Cities South Asia & Emerging Market, Dell Technologies sharing smart city case studies in the region

Following up on the topic of digital cities, Day 2 of Asia IoT Business Platform Vietnam 2019 will discuss both local and international case studies of smart city initiatives and implementations. 

Asia IoT Business Platform

19 November 2019

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