The digital economy will generate 74 billion dollars for Vietnam by 2030


The digital economy, if well developed, could generate $ 74 billion in revenue by 2030 for Vietnam, or 27% of the country’s GDP in 2020, Alphabet estimates. Among all sectors, manufacturing, agriculture, food and education account for the largest share of income.

According to Vietnamese language VnEconomy, Alphabet also pointed out that Vietnam’s digital economy has shown the second largest growth in the Southeast Asian region after Indonesia, as 70% of the Vietnamese population owns smartphones and 70% of the under 35 have a good understanding of technology.

Technology helps businesses connect with consumers and reduces shipping traffic caused by a disrupted supply chain. Mobile network, cloud computing, big data, AI, fintech, IoT and remote inspection, high-end robot and 3D printing can help companies reduce their production costs and to increase their income. These technologies will represent 70% of Vietnam’s digital economy and are expected to generate $ 52 billion in revenue.

Jacques Morisset, World Bank economist in Vietnam, said 60% of Vietnamese businesses provided online tools and services during the pandemic, as did the government. He suggested that the government should educate workers more on the use of digital technologies and that companies should be more innovative and improve their capacities to absorb valuable information.

According to the local media outlet, the Vietnamese Ministry of Planning and Investment (MPI) is working with various international organizations and large foreign companies to design new digital policies and ensure they are on track to deliver better and more resources for startups, innovations, and digitization.

In the process, digital laws, digital workforce and network infrastructure should also be established and delivered as soon as possible. Vietnam still needs to expand its network coverage and remove legal barriers to the growth of software developers. University workers and students must be better equipped with technological knowledge. Above all, Vietnam needs to create a better space for e-commerce and remove some restrictions for international data transfers in order to increase interaction.


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