Digital Biz

The State Bank of Vietnam (SBV) will propose mechanisms and policies on digital currencies. This is one of the tasks prioritized by the central bank to develop non-cash payments in the country in the 2021-2025 period.

The revenue of Vietnam’s information and communications technology (ICT) industry reached $136 billion in 2021, $11.4 billion more than in 2020 despite Covid-19. According to the Ministry of Information and Communications, the Law on the Digital Technology Industry will be developed next year and the proportion of “Make in Vietnam” in the ICT industry, electronics, and telecommunications, will reach over 45 per cent by 2025.

Among the top 10 startups honored at the Cool Product Awards 2021 are tech startups that help contribute to the digital transformation of many important service industries, some of which have raised tens of millions of USD in investment capital from international investment funds. Another notable point is the emergence of medical and educational technology startups.

The digital government platform of the Mekong Delta’s Tien Giang province was officially launched on December 17. This is the first such platform in Vietnam and is the result of cooperation between the Tien Giang Provincial People’s Committee and the VNPT Group.

New technology trends and online marketing are helping Vietnamese businesses go upstream in spectacular fashion. According to the Vietnam Digital Marketing Trends Report 2021, e-commerce is forecast to grow at an average of 29 per cent each year in 2020-2025 period and reach $52 billion by 2025.

Otrafy Inc - a SaaS platform that automates the collection, storage, and transfer of certification data to the entire food supply chain - has won the TECHFEST 2021 National Innovative Technopreneur Contest and will represent Vietnam at the Startup World Cup next year.