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Vietnam seeks to develop its tech enterprise community

Vietnam aims to be an industrial country by 2045, expecting over half of the population to in the middle-class income group by then. This goal may only be achieved through advancements in science and technology. It will require ongoing cooperation between the public and private sectors of the country.

A forum on Vietnam technology business development was launched at the National Conference Centre in Ha Noi, earlier this week.

The event was hosted by the Ministry of Information and Communications. Its main objective was to support the Vietnamese technology business community and develop it into a driving force for economic breakthroughs; helping the country escape the medium-income gap and become a developed nation.

Natural resources and cheap labour are no longer long-term advantages. Therefore, innovation and creativity are vital for economic growth.

So far, digital-based commerce brought back about US $3.5 billion for Vietnam or 1.7% of its GDP and the figure is expected to reach US $42 billion by 2030. Companies, which play an important role in economic growth, cannot produce and advertise their products effectively. Hence, technology development must be the country’s top priority.

Vietnam’s ICT sector has around 50,000 enterprises with combined revenues of about US $100 billion. To increase this figure, the government plans to adopt a national digital transformation strategy for 2019. This strategy will create opportunities for technology enterprises to also work towards attaining complete digitalisation.

The forum Make In Vietnam, is the first of its kind and a step in the direction of a more holistic relationship between the private and public sectors of the country.

The event brought together technology businesses, start-ups, and consulting, technological, transferring, and traditional companies that have adequate resources and are keen to digitalise their core functions.

About 1,000 delegates, including leaders of the government, ministries, agencies, and domestic and foreign experts attended the event and discussed four main topics.

How technology enterprises can solve Vietnamese problems

Speakers shared their views on the reality of technological applications and the developments needed in Vietnam in order to solve its societal problems. They also discussed the success of high-tech enterprises and effective administration models.

How technology enterprises can solve the middle-income trap

Academic experts shared international experiences in technology adoption and socio-economic advancement through technology business development.

Policies and solutions to Vietnamese technology business development

 Vietnamese technology enterprises proposed policies to boost technology business development and the technology ecosystem.

Solutions to technology business connectivity

Speakers and delegates discussed solutions to associate technology enterprises and organisations in different areas including agriculture, healthcare, and public services.

Over the past three years, the development of e-governance has attained positive outcomes. Information about over 9 million people has been added to the population database. The city of Ha Noi houses 3,530 IT enterprises, which earned VN $244,266 billion in 2018.

The city is building a database that enables enterprises to invest in infrastructure and create a robust technological ecosystem. It will also reform and offer flexible mechanisms for technology enterprises.

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