The COVID-19 pandemic has resulted in an unprecedented upheaval worldwide and ushered a "new normal" way of conducting sustainable business during the global crisis, Dr Nguyen Minh Ha, president of HCM City Open University, said at online two-day conference held on November 4 and 5.

“In several industries such as public services, healthcare, finance and retailing, businesses and organisations have had to transform how they engage with customers and clients through digital platforms,” Ha said.

“Governments and businesses are increasingly accelerating digital transformation, tapping into technologies and adopting innovative solutions specifically designed to help build intelligent businesses and smart cities in the new normal,” he added.

The Vietnamese government has prioritised digital transformation as a key strategy to fully exploit opportunities offered by the technology revolution and attain sustainable socio-economic development.

In the coming months and years, businesses that can capitalise on digital technologies and smart solutions will thrive in the new normal.

The 4th International Conference on Business with the theme of "Digital Transformation for Smart Business - Smart City in a Post-Pandemic World" aimed to bring together leading academic researchers, scholars and practitioners to an interesting knowledge-sharing and exchange event.

The conference was organised by the HCM City Open University in conjunction with the University of Economics HCM City, the United Nations Industrial Development Organization, Berlin School of Economics and Law in Germany, University of Rouen and University of Paris 13 in France, International Association of Sustainable Tourism Management, Solvay Brussels School of Economics and Management in Belgium, and University of International Studies of Rome in Italy.

In the conference, four panel or industry talk sessions were held to open discussion among the panellists and participants. The topics of the sessions included re-imaging marketing in the next normal, optimisation in supply chain management, and smart city approach to support the start-up ecosystem.

In the discussion session of the smart city approach, delegates said that start-ups have had many development opportunities, especially technology-driven businesses.

Shankar Subramanian Iyer, researcher at Australia’s S. P. Jain School of Global Management, said that digital transformation has had a huge impact on society, organisations and people. Companies are struggling to adapt to new technologies, he said, adding that Blockchain has the potential to transform business models and processes.

Governments should adapt to changes in technology and provide the right regulations to guide its usage, he said.

Training workshops can enhance the usage and acceptance of Blockchain for government policymakers, lawmakers, the judiciary, regulators and key stakeholders in the private sector.

The regulatory framework also needs to protect user’s data and Blockchain technology usage, he said. — VNS