Participants at the workshop. — VNA/VNS Photo Digital technology, if exploited to the maximum, can bring in over VND1.733 quadrillion (US$74 billion) to Viet Nam by 2030, with the most beneficial sectors including manufacturing, agriculture and food, and education-training. The information was unveiled in a report on the potential of Viet Nam’s digital economy, which was presented at a workshop held in Ha Noi on Monday. Conducted by strategic economics consultancy company AlphaBeta, the report shows that Viet Nam has many opportunities to benefit from the digital economy. Accordingly, the young, educated and tech-savvy population accounts for 70 per cent of its citizens under 35 years old. The literacy rate in the 15-35 age group is over 98 per cent, higher than the average global rate of 91 per cent. About 70 per cent of the population uses smart phones. Viet Nam also has the second fastest growing Internet economy in Southeast Asia after Indonesia. The report, meanwhile, … [Read more...] about Digital technology projected to earn US$74 billion for Viet Nam by 2030: Seminar
Digital economy act
The workshop to announce the Digital Transformation Index (DTI) 2020. — Photo hanoimoi.com.vn Da Nang leads the rankings in the Digital Transformation Index (DTI) Report 2020 in all three pillars of digital government, digital economy and digital society. The Ministry of Finance is the leading agency in the rankings at the ministerial level in providing online public services. This is information from the workshop on the Digital Transformation Index (DTI) of ministries, ministerial-level agencies, government agencies and provinces and centrally-run cities last year held in Ha Noi on Wednesday. Last year is the first year that the Ministry of Information and Communications evaluates the Digital Transformation Index (DTI) of ministries, ministerial-level agencies, agencies of provinces and municipalities. The DTI 2020 report is compiled from four data sources collected including digital transformation report data of ministries, ministerial-level agencies, Government agencies … [Read more...] about Da Nang leads rankings in Digital Transformation Index
Since 2010, Da Nang has identified information and communication technology as one of the three strategic breakthroughs in socio-economic development. The central city of Da Nang topped the Digital Transformation Index (DTI) rankings in 2020 for localities nationwide in all three key pillars of digital government, digital economy and digital society, according to the DTI 2020 Report released several days ago by the Ministry of Information and Communications. The DTI rankings were made based on four major sources - data from reports of ministries, ministry-level agencies, Government-run agencies and centrally-run cities and provinces in 2020; data collected from people, entrepreneurs, State officials and public servants; experts’ assessments on digital transformation and information technology; and evaluation collected through the Internet under the supervision of the Ministry of Information and Communications. The rankings aim to provide a panoramic picture on the … [Read more...] about Why has Da Nang taken the lead in digital transformation?
Sylvester Kinuthia - Head of Transaction Banking Standard Chartered Bank Vietnam When we look back to the first half of 2020, at the onset of the pandemic, digitisation was a crucial first-response action for businesses to implement continuity plans and stabilise operations. That has evolved – businesses are now rethinking their digitisation strategies to increase resilience and optimise business processes for future growth opportunities. Banking is one sector which is being disrupted from the outside, with the emergence of fintech companies offering a range of banking services but also from within the industry itself. Take the example of mobile access to banking services or instant payments. These are now customer expectations rather than differentiators. At Standard Chartered, we view digitisation as more than simply moving existing brick-and-mortar business models online. We see the potential for a wider industry transformation which can be achieved by continuously … [Read more...] about Digital transformation in banking: Riding the waves of disruption
Vietnam is showing signs of socio-economic recovery though the COVID-19 pandemic remains complex, according to Francois Painchaud, Regional Resident Representative of the International Monetary Fund (IMF) in the country. IMF Regional Resident Representative Francois Painchaud addresses the Vietnam Economic Forum in Hanoi on December 5 (Photo: VNA) Speaking at the Vietnam Economic Forum 2021 on December 5, Painchaud said the this started in the fourth quarter, and the country can achieve a GDP growth rate of 2.5 percent this year and 6.6 percent in 2022. He underlined the importance of enhancing the healthcare capacity to economic recovery, noting that timely fiscal and monetary policies for right groups and tools of restructuring to support development in the long term can help minimise the pandemic’s impact. The official held that the size of fiscal measures in developed economies can be applied to other countries, including Vietnam. More … [Read more...] about Vietnam’s economy showing signs of recovery: IMF official
Da Nang calls for RoK’s investment in ICT A forum to promote investment in information and communications technology (ICT) in the central city of Da Nang from the Republic of Korea (RoK) was held virtually on November 30, bringing together representatives from over 200 enterprises and investors from the two countries. The event aims to introduce potential, advantages, preferential and investment support policies of Da Nang to RoK businesses and investors, especially in ICT, and high technology. Addressing the event, Deputy Minister of Information and Communications Phan Tam said the RoK is the largest foreign investor in Vietnam with over 9,000 valid projects worth over 71.5 billion USD, including nearly 500 investment projects in the ICT field with the presence of the world's leading technology corporations such as Samsung and LG. To welcome more investments from the RoK, the Vietnamese Government has been perfecting models, mechanisms and policies to create breakthrough … [Read more...] about VIETNAM BUSINESS NEWS DECEMBER 1