September 9, 2024

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Vietnam’s Digital Leap: Transform One Million Businesses by 2026

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Vietnam took a major step toward digital modernisation with the signing of a Cooperation Agreement between the Ministry of Information and Communications and the Vietnam Chamber of Commerce and Industry (VCCI). This landmark agreement aims to digitally transform one million Vietnamese businesses by 2026, setting a visionary roadmap for the country’s digital economy and society from 2024 to 2026, with a forward-looking perspective extending to 2030.

Image credits: Vietnam Ministry of Information and Communications

The agreement was formalised by Nguyen Manh Hung, the Minister of Information and Communications, and Pham Tan Cong, the Chairman of VCCI. This strategic collaboration will focus on driving digital transformation through the promotion of Vietnamese digital technology products and solutions, fostering growth in the digital economy, and enhancing digital society initiatives. The agreement marks a significant commitment to integrating advanced digital practices across Vietnam’s business landscape.

Minister Hung outlined the essential steps for successful digital transformation, drawing from the experiences of the National Digital Transformation Programme, which is now in its fifth year. He emphasised that the process begins with organisational leaders mandating the digitisation of work data.

This foundational step simplifies the transition by ensuring that data is managed and processed using advanced technologies like artificial intelligence (AI). According to Hung, this approach not only streamlines digital transformation but also demonstrates that it can be achieved with a single administrative decision from top leadership.

Minister Hung stressed the importance of leadership in driving digital change. “The core of digital transformation is change itself, and only leaders possess the authority and credibility to initiate and sustain this change,” he stated.

He highlighted the need for leaders to personally engage in and understand digital transformation before advocating for it across their organisations. By setting an example, VCCI’s successful digital transformation is expected to inspire and build confidence among other businesses in Vietnam.

Pham Tan Cong, Chairman of VCCI, acknowledged the transformative potential of digital technologies for economic growth and competitiveness. He admitted that although he had always believed in digital transformation, he was previously uncertain about how to begin. With the guidance and insights provided by Minister Hung, Cong expressed a renewed sense of readiness and commitment to lead VCCI through its digital transformation journey, which will serve as a model for other organisations.

The Cooperation Agreement outlines a comprehensive plan where the Ministry of Information and Communications will support VCCI in developing and implementing digital transformation strategies and programmes. In turn, VCCI will focus on promoting “Make in Vietnam” digital products and solutions, which are vital for enhancing business efficiency and competitiveness.

The collaboration will include organising events, forums, and seminars to connect Vietnamese digital technology providers with businesses, as well as conducting surveys to align technology solutions with market needs.

Additionally, the Ministry will provide VCCI with an annual list of exemplary Vietnamese digital solutions to be considered for implementation. VCCI will pilot ten standout digital products across various sectors to showcase their effectiveness. The agreement also encompasses support for intellectual property registration and international market exploration, helping Vietnamese digital enterprises expand their reach.

Pham Tan Cong emphasised the crucial role of supporting Vietnamese digital technology enterprises in the national digital transformation mission. “By promoting ‘Make in Vietnam’ digital products, we aim to enhance business efficiency and drive economic growth,” Cong stated. VCCI is committed to advancing digital technology and contributing to the overall development of Vietnam’s digital economy and society.

This initiative represents a significant step towards modernising Vietnam’s business environment and integrating digital technology into everyday operations. It sets a high standard for digital adoption and technological innovation, positioning Vietnam as a leader in digital transformation in the region.

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