Companies making the digital transformation are better at coping with crisis and recovering from it, a forum titled ‘Hacking growth in the digital economy’ heard in HCM City on Friday.
Therefore, investment in it is worthwhile and helps companies achieve a breakthrough in development, attendees said.
Organised by TV Hub and VTV Digital, the forum attracted 1,000 experts, association members, SME owners, startups and investors, who shared their experiences in making the digital transformation and the lessons learnt.
A survey found only 15 per cent of businesses opting for digital transformation while 99 per cent of SMEs cannot afford it and consider it something meant only for big companies.
Nguyen Xuan Phu, chairman of Sunhouse, said digital transformation could not be done alone: “[It] should be an eco-system with the participation of State agencies and companies.”
Dinh Tran Viet, acting director of VTV Digital, said: “Once the leader is ready for digital transformation and ready for applying technology, the company will be successful.”
According to Le Viet Thang, founder and general director of 1Office, money is not a factor in digital transformation, only the mindset and role of the leader. Digital transformation is strongly under way in Viet Nam.
Just half a year ago consumers could not use QR codes to pay in traditional markets, he pointed out to underline his point.
To change the mindsets of company bosses, he said suppliers should show them the benefits the transformation could bring them. The Government should strengthen communication activities related to digital transformation, which it had done well so far, he said.
Nguyen Canh Thuc, CTO of Ahamove, said that thanks to technology, his company managed human resources well and improved their capacity as well as operational efficiency.
Other participants expected services, logistics and banking to be the sectors to embrace technology.
A delegate said 2023 was forecast to be a tough year and so companies would need deep pockets to afford digital transformation.
Viet Nam had favourable conditions to develop the digital economy with its young population, with GenZ and Gen Alpha accounting for over 42 per cent, delegates said. — VNS