Digital Biz

The General Department of Taxation has said that the tax sector has promoted the development of digital tax services for taxpayers and seen impressive results. The number of enterprises registering with tax authorities to use digital tax services this year as of September 15 was 861,710, or 99 per cent. Businesses paid taxes through more than 2.75 million digital transactions totaling over VND585.6 trillion ($24.36 billion) and nearly $49 million.

Vietnam has been assessed by McKinsey Global Management and Consulting Company as having the fastest digital banking adoptioin in the region last year. The State Bank of Vietnam has said it will continue to improve mechanisms, policies, and the legal framework, including the Law on Credit Institutions, the Law on the State Bank of Vietnam, and a sandbox mechanism for the controlled testing of financial technology (fintech) activities in the banking sector, as well as regulations to facilitate the application of digital technology.

The Vietnam Blockchain Summit 2022 will take place in Hanoi on October 19 and 20 with the participation of 700 delegates, including 150 international delegates from more than 30 economies that are major powers in blockchain technology. Vietnam is one of five leading countries in blockchain and its blockchain market is expected to reach $2.5 billion by 2026.

The International Data Corporation (IDC) has predicted that Vietnam will lead Southeast Asia in cloud computing, with a compound annual growth rate (CAGR) of up to 32 per cent between 2018 and 2023.

The Vietnam Posts and Telecommunications Group (VNPT)’s VNPT Money has launched a feature for transferring and receiving money using VietQR codes with 36 banks on the Napas system. This service will increase the coverage of touchless payments via Mobile Money. There are now nearly 1 million Mobile Money users.

Vietnam Social Insurance has said it has completed a database of more than 98 million people, connecting with nearly 13,000 medical examination and treatment facilities, and there are more than 620,000 organizations and enterprises using public services nationwide. It has completed providing online public services of level 4 for all administrative procedures of the industry and providing 20 public services under 14 administrative procedures on the National Public Service Portal.