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
Vietnam chamber of commerce and industry vcci
Vietnamese famers have average income of 3.4 million VND/month The Ministry of Agriculture and Rural Development reported that the average income for farmers in 2020 was 43 million VND/year, which is equivalent to under 3.4 million VND/month. In the Draft Strategy for Sustainable Agriculture and Rural Development for the 2021-2030 period (with a vision towards 2050), the Ministry set the goal of raising farmers’ average income and reducing poverty in a sustainable manner. By 2030, the rural population’s income would have to be 3 times higher than in 2020, and poverty rate would fall by 1-1.5 %. Vietnam targets 100,000 IT enterprises, digital economy to contribute 30% GDP At a recent event in Da Nang, Deputy Minister of Information and Communications Phan Tam said that Vietnam has had 58,000 ICT enterprises and has set a target for that number to reach 100,000 by 2025. "The goal is that by 2030, Vietnam will be in the top 50 countries in terms of digital governing, and its … [Read more...] about VIETNAM BUSINESS NEWS DECEMBER 5
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?
The central bank received three applications for Mobile Money service and has licenced all of them - VNPT, MobiFone and Viettel. Pham Tien Dung, Deputy Governor of the State Bank of Vietnam (SBV), says the central bank granted Viettel the Mobile Money service rights after the Vietnam Post and Telecommunications Corporation (VNPT) announced it would pilot this service in Vietnam. The central bank received three applications for Mobile Money service and has licenced VNPT and MobiFone. Deputy Governor Pham Tien Dung said the State Bank of Vietnam has also granted a license to Viettel to provide Mobile Money services but it has not received official information from Viettel about the license. A source told ICTnews that the license of Mobile Money service for Viettel was slower than VNPT and MobiFone due to the requirement for completing the dossier. Previously, on January 7, 2020, the Government urged a pilot use of telecommunications accounts to pay for services of … [Read more...] about State Bank grants Mobile Money license to Viettel
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
At the launching ceremony of the campaign on collecting opinions and suggestions for tourism recovery plan and a competition for creative and innovative tourism startups The competition and mobilization for recovery measures in the tourism sector aims to develop travel promotional policies, gradually revive the social economy and welcome back international to HCMC . Director of the municipal Department of Tourism, Nguyen Thi Anh Hoa said that the city’s tourism industry has launched many measures to bring tourism back from the pandemic, including strengthening technology application in promoting the city’s attractions and destinations. Leaders of HCMC and the Ministry of Culture, Sports and Tourism attend the opening ceremony of the 17th HCMC Tourism Day The 17th HCMC Tourism Day 2021 opened at the White Palace Convention Center in Thu Duc City on December 4 with the participation of Chairwoman of the Vietnam Fatherland Front (VFF)'s HCMC chapter, To Thi Bich Chau; … [Read more...] about HCMC launches competition for creative, innovative tourism startups