Digital Biz

The Vietnam E-commerce and Digital Economy Agency at the Ministry of Industry and Trade (MoIT) has requested that foreign-invested e-commerce platforms doing business in Vietnam supplement their business licenses before January 1, 2023.

The Digital Transformation Index (DTI 2021) report, released by the Ministry of Information and Communications (MoIC) on August 8, states that the digital government, the digital economy, and the digital society - pillars of DTI 2021 - have increased compared to 2020, but only 12 of the 89 ministries and provinces participating in the assessment had a DTI 2021 value of 0.5 or higher, or just 13.48 per cent, revealing that digital transformation remains in its initial stages.

The draft amended Law on Electronic Transactions will play an important in promoting faster digital transformation in Vietnam. Many provisions in the draft, however, pose difficulties for credit institutions.

A report on notable search trends among Vietnamese people in the second quarter of this year, prepared by Coc Coc, found that the number of searches on Vietnam’s tourism and aviation sectors increased sharply. Searches on banking and insurance services rose slightly, while those on the stock market fell.

According to the Ministry of Information and Communications, 1.76 million mobile phone subscribers now use Mobile Money services, an increase of four-fold compared to January, for average monthly growth of 20 per cent. Compared to the 125 million mobile phone subscriptions in Vietnam, however, the percentage of people using Mobile Money services is still quite small.

Nano Technologies Vietnam - a pioneer in providing a flexible salary payment model through the Vui App platform - raised $6.4 million on August 3 in a Series A funding round led by the Openspace investment fund. Vui App empowers employees to take control of their finances and choose their own payday.