Digital technology projected to earn US$74 billion for Viet Nam by 2030: Seminar

Tuesday, Oct 19, 2021 14:32

Participants at the workshop. — VNA/VNS Photo

Digital technology, if exploited to the maximum, can bring in over VND1.733 quadrillion (US$74 billion) to Viet Nam by 2030, with the most beneficial sectors including manufacturing, agriculture and food, and education-training.

The information was unveiled in a report on the potential of Viet Nam’s digital economy, which was presented at a workshop held in Ha Noi on Monday.

Conducted by strategic economics consultancy company AlphaBeta, the report shows that Viet Nam has many opportunities to benefit from the digital economy.

Accordingly, the young, educated and tech-savvy population accounts for 70 per cent of its citizens under 35 years old. The literacy rate in the 15-35 age group is over 98 per cent, higher than the average global rate of 91 per cent. About 70 per cent of the population uses smart phones. Viet Nam also has the second fastest growing Internet economy in Southeast Asia after Indonesia.

The report, meanwhile, points out a number of barriers in exploiting benefits from digital technology, including regulatory requirements, digital connectivity, and a shortage of digitally skilled human resources.

Co-organised by the Ministry of Planning and Investment’s Viet Nam National Innovation Centre (NIC) and Google, the workshop reviewed the current situation and possible development of Viet Nam's digital economy, as well as mechanisms and policies to promote its growth.

Speaking at the event, Deputy Minister of Planning and Investment Tran Duy Dong said in the context of the COVID-19 pandemic, Viet Nam needs to accelerate the digital economy's development on the basis of science-technology and innovation to improve the quality of life, productivity, efficiency and competitiveness.

World Bank Lead Economist for Viet Nam Jacques Morisset recommended that it is necessary for Viet Nam to focus on upgrading digital skills for workers, encouraging businesses’ innovation, and enhancing the accessibility and quality of information.

NIC Director Vu Quoc Huy said the centre had cooperated with partners such as Google and Amazon to organise online training and capacity building programmes in technology, e-commerce application, and digital transformation for domestic businesses.

He noted the building and implementation of more programmes to support innovation for businesses will be completed in the future. — VNS

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