Banking digital transformation

Prime Minister Pham Minh Chinh gives a speech at a videoconference discussing Viet Nam's digital transformation process. — VNA/VNS Photo Digital transformation has been and will be playing a crucial role in economic recovery, virus containment, global integration and Viet Nam's standing in the international community, said Prime Minister Pham Minh Chinh during a videoconference discussing the country's digital transformation process. Minister of Information and Communications Nguyen Manh Hung said the Government is to lead the way with investment in research and development and new policies to create a market for digital business activities. "In a fast-changing and hard-to-predict world, our best move is to invest in small gains that are part of a long-term vision for the future," said the minister. The country has set a target to become one of the top 30 countries in the world in digital access with the vast majority of its population to gain access to mobile devices and the … [Read more...] about PM chairs meeting on national digital transformation

PM Pham Minh Chinh speaks at the meeting. (Photo: VNA) The PM, who is chairman of the committee, said the debut of the committee is meant to realise the Resolution of the 13th National Party Congress regarding digital transformation, in the context of digital transformation becoming a common trend of the world and an objective requirement of national development. He instructed ministries and agencies to build decrees related to digital transformation, including electronic identification to protect personal data, regulations on the management and operation of the national database on population, among others, to submit to the Government. Chinh hailed ministries, agencies and localities for their achievements in digital transformation, especially in three pillars of digital Government, digital economy and digital society. At the same time, the PM pointed to outstanding shortcomings in the field, such as a low ranking in terms of e-Government, the incomplete legal environment for … [Read more...] about PM chairs first meeting of National Committee on Digital Transformation

As part of the MOU signed today, Visa will help farmers to accelerate eCommerce and digital payments adoption, and digitalize their operations, positioning agriculture as a driving force for Vietnam’s economic development. The MOU signing ceremony between the Vietnam e-Commerce and Digital Economy Agency and participants of the Vietnam National Pavilion on the Chinese e-commerce platform JD.com Mr. Bui Huy Hoang, Deputy Director of Center for Information and Digital Technology (CID), Vietnam e-Commerce and Digital Economy Agency – Ministry of Industry and Trade, said, “Digitalization is truly needed in the Vietnamese agricultural industry. With our new partnership, the MoIT, iDEA and Visa will support farmers and small business owners to take the first and most daunting step towards the digital journey. From there, we will be able to re-position agriculture as a driving force of Vietnam’s development.” Ms. Dang Tuyet Dung, Country Manager of Visa Vietnam and Laos, … [Read more...] about Visa to set Vietnamese farmers up for digital transformation

Le Nhan Tam is CTO, Technical Sales leader, IBM Technology Sales, IBM Vietnam As cybercrime profits rise, so do the costs to businesses after suffering a breach. The results of a recent global Cost of Data Breach study found that data breaches now cost companies $2.64 million per incident on average in ASEAN, including Vietnam. Cybersecurity is also becoming more important in Vietnam with more businesses increasing their security investment. Data breaches in finance were most expensive by industry ($231 million), followed by transport ($178 million) and technology ($172 million). The cost of a breach was $430,000 higher than average at organisations that had not undergone any digital transformation due to COVID-19. As the user experience has become more seamless thanks to the modernisation of digital infrastructure and IoT devices, it is also becoming easier for cybercriminals to exploit digital pathways in order to gain a foothold in business environments. Now more than … [Read more...] about Next big bet Lies in cyber for businesses in Vietnam

A corner of Bac Giang city (Photo: bacgiang.gov.vn) Bac Giang (VNA) – Bac Giang city in the northern province of the same name will mobilise all resources to develop in the direction of green and smart urban area , Chairman of the municipal People’s Committee Dang Dinh Hoan has said. To realise the target, the city has set to basically fulfil criteria for the first-tier urban area by 2025 and be recognised as one by 2030. It aims to raise per capita income of local residents to 8,500-9,000 USD a year and call for more than 100 trillion VND (4.41 trillion USD) in social sources for development. Bac Giang city will invest in and build two or three green and smart urban areas, two to four three- and five-star hotels, two to three nightlife economy zones and a 100-ha park. digital economy 's share in the gross regional domestic product to about 30 percent and at least 20 percent in each sector. The city will work to put power lines underground, build more parks, … [Read more...] about Bac Giang city strives to become green urban area

Le Trong Minh, VIR's editor-in-chief The COVID-19 pandemic has wreaked havoc on the business community and the general public around the world, particularly in Vietnam. Supply chains have been disrupted, affecting production and corporate operations. Many firms were forced to shut down or cease operations and millions of workers lost their jobs. However, the whole political system has quickly come out with timely solutions to provide some much-needed support. In difficult circumstances, we could see heroic acts of solidarity so that no one is left behind. Many firms are still struggling, but they remain ready to perform their corporate social responsibility by launching practical and effective initiatives. These wonderful acts were not merely tokens of goodwill – they reflect business philosophy and their choice to pursue long-term values for themselves and society as a whole. Bui Thu Thuy, deputy director of the Enterprise Development Department, Ministry of … [Read more...] about Sharing difficulties and responsibilities to overcome the pandemic