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Vietnam Ranks 63rd in Global Index of Digital Entrepreneurship Systems

Vietnam has ranked 63rd out of 113 global economies in a global ranking of digital environments and support systems for entrepreneurs, according to a new index developed by the Asian Development Bank (ADB).

Released earlier, the Global Index of Digital Entrepreneurship Systems (GIDES) puts Singapore in the first place, followed by the United States and Sweden. In Asia, Indonesia ranked 71st, India ranked 75th, and the Philippines ranked 79th. 17 of the 21 developing Asian economies included are ranked toward the bottom, underscoring the need for these economies to nurture digital entrepreneurship.

Experts have noted that digital entrepreneurship helped economies stay afloat during the COVID-19 pandemic, and it can become a major engine of growth and innovation in the post-pandemic world. For this to happen, there needs to be a supportive environment enabled by conducive policies and incentives. While the environment for Asia’s digital entrepreneurs made substantial strides in the past couple of years, there’s still a lot of room for improvement.

The index measures the quality of the environment for digital entrepreneurs by looking at the level of digitalisation in eight areas: culture, institutions, market conditions, infrastructure, human capital, knowledge, finance, and networking.

In addition to investing in digital infrastructure such as broadband networks, governments need to promote political stability, reliable legal systems, open and competitive markets, and strong property rights. For Asia and the Pacific as a whole, the lack of a supportive culture is among the biggest weak spots when it comes to nurturing digital entrepreneurship. For example, there is a general lack of public appreciation for the vital role that entrepreneurs play in economic progress. One way to change this is to improve the public perception of entrepreneurship through education.

In February, MIC proposed to replace the programme ‘Developing the IT and Electronics-Telecoms Industries until 2025’ with the project ‘Strategies to Develop the Digital Technology Industry in Vietnam until 2025’. This was considered a critical change to create sufficiently skilled human resources in the digital technology field, encouraging breakthroughs in the industry, as OpenGov Asia had reported. Under the plan, over the next few years, the Ministry will focus on developing a digital technology business ecosystem and upgrading the quality of human resources in the field. It plans to update and implement the skill standards for digital human resources and maintain the 6-6.5% contribution of digital technology businesses to the GDP.

MIC statistics reveal that in 2021, Vietnam had 64,000 digital technology enterprises (a rise of 5,600 units compared to 2020) and introduced several new made-in-Vietnam ICT products. The revenues of the ICT industry last year reached US$136.2 billion, 13.8% of which belonged to Vietnamese companies (US$18.78 billion). In 2022, MIC aims to increase the total quantity of digital technology businesses in Vietnam to 70,000 and the total revenues in the IT telecoms industry to US$148.5 billion, with an IT revenue growth rate of 9.2% and a state budget contribution of US$3 billion.

The country plans to have 100,000 digital technology firms by 2025 and have at least ten firms compete in global markets. It also wants to have 10 localities with revenues of over US$1 billion from ICT and 10-12 IT zones.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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