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Vietnam’s government aims to have 50% of businesses operating digitally by 2025

Vietnam’s Deputy Minister of Information and Communications announced that a draft project on national digital transformation has set a target to have 50% of businesses operating on a digital basis by 2025.

The plan was introduced earlier this week during a seminar on completing institutions and conditions to develop Vietnam’s digital economy.

The event was part of a series of workshops under the Vietnam Private Sector Economic Forum 2019, co-chaired by the government and the Party Central Committee’s Economic Commission.

The Deputy Minister said that the Government has assigned the Ministry of Information and Communications to pen the project on national digital conversion, with its scope covering three main areas: enterprises, state agencies, and society. Under three periods, from the effective date to 2022, 2022-2025, and 2025-2030.

For state agencies, the plan is expected to have 80% of public services implemented at level four (the highest level) and most transactions between people and businesses with state management agencies on a digital environment.

As for the whole society, the draft project proposes the goal of seeking to popularise digital capacity for people and creating favourable conditions for them to access digital infrastructures at a reasonable cost, with broadband access rates set under 2% of their income.

According to the Deputy Minister of Planning and Investment, the digital economy is growing in a rapid manner and has a great impact on all aspects of the socio-economic life of all countries.

He said that Vietnam’s digital economy reached US $3 billion in 2015 and increased to US $9 billion in 2018. It is expected to reach US $30 billion by 2025. Also, Vietnam’s GDP might increase by about US $162 billion over 20 years if the country is successful in digital transformation.

Enterprises play a key role in digital economic development and should proactively find solutions to apply digital technology, boost digital transformations, and participate in building the fundamental elements of the digital economy.

On the government’s side, the state is actively researching and developing policies for Vietnam to quickly exploit such potential benefits. The Ministry of Planning and Investment is also implementing the task of developing a national strategy on the 4th Industrial Revolution, including policies for digital economic development.

Experts at the event also proposed solutions to increase digital economic development in Vietnam, focusing on promoting digital economy in every economic sector, encouraging the application of technology in both small and medium enterprises, and ensuring cyber security and promoting the government’s role in this field. Also, facilitating a favourable institutional environment for business activities and strengthening investment in infrastructure for digital conversion.

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