GrabBike and GoViet drivers on the street. Ha Noi's People's Committee is making plans to develop digital technology companiess. — Photo tapchitaichinh.vn

Ha Noi's People's Committee is making plans to develop digital technology companies for 2021-25 and 2026-30.

This aimed to create favourable conditions for socio-economic breakthroughs.

The Department of Information and Communications will be in charge of providing consultancy and support to digital technology companies in the city.

The Department of Planning and Investment will propose amendments to the exiting legal framework with a focus on start-ups, innovation and the operation of new business models based on digital technology.

The city will also study and propose policies about a science and technology development fund for digital technology companies to promote investment in tech start-ups.

Viet Nam targets to have at least 100,00 digital technology companies by 2030, with the digital economy accounting for more than 30 per cent of the country’s gross domestic product (GDP).

The e-Conomy Southeast Asia 2019 report published by Google, Temasek and Bain at the end of 2019 showed that Viet Nam’s digital economy was valued at US$12 billion or 5 per cent of the country’s GDP and four time higher than that in 2015. The report forecast that the value of Viet Nam’s digital economy would reach $43 billion in 2025 with major sectors including e-commerce, online travel, online communications and tech-based transportation services.

Ha Noi and HCM City are two of the seven biggest cities for digital technology companies in the Southeast Asia region. — VNS