Digital Biz

A report from Amazon Global in Vietnam stated that Vietnam will become the fastest-growing e-commerce market in Southeast Asia by 2026. It currently has the second-highest percentage of consumers shopping online in the region, after Singapore. Retail sales in its e-commerce sector reached $13.7 billion in 2021 and are forecast at $16.4 billion this year.

An assessment by the United Nations put Vietnam in 76th place out of 193 countries and territories in the online service index (OSI) in 2021, up five places compared to 2020. More than 50 digital technology platforms have been launched to serve national digital transformation in all three pillars: digital government, digital economy, and digital society.

The State Bank of Vietnam (SBV) has approved planning for the banking sector to implement the national strategy to develop the digital economy and digital society to 2025 and orientation to 2030. The plan sets out eight specific tasks, including developing digital payments towards financial inclusion; promoting non-cash payments; increasing the proportion of online activities so they account for at least 50 per cent of the banking sector’s activities; and developing and using digital platforms, digital data, and digital businesses, etc.

The Ministry of Information and Communications (MoIC) has issued a Circular guiding the implementation of a program to provide public-utility telecommunications services to 2025. Enterprises covered are those providing public-utility telecommunications services, land mobile telecommunications services, and fixed broadband internet in disadvantaged areas. The support period is until December 31, 2025.

The ITG Technology Joint Stock Company launched The ITG Digital Transformation Center (ITG DX) on November 2, with a mission of optimizing resources, creating vision, and digitizing and smartening factories and workshops to boost domestic production and momentum for breakthrough developments in the future.

The Central Institute for Economic Management (CIEM) has said that Vietnam’s northern midlands and northern mountainous regions have a lot of potential but have not been exploited, so are the poorest and most difficult parts of the country. It is therefore necessary to promote digital transformation in these regions and strengthen their economies.