Today: 01/10/2023 22:27:54 (GMT+7)

Vietnam lucrative market for digital economy

Vietnam is believed to be a lucrative market for digital economy with the second fastest growth pace in the world last year, after India. 

Vietnam has a population of nearly 100 million, ranking 15th in the world, but the size of its digital market stood at only the 25th position among the 39 countries surveyed in 2022 by Financial Time and Omdia.

Vietnam, lucrative market, digital economy, second fastest growth pace, digital market stood, hardware production

Illustrative image.

However, the gross merchandise value of its digital economy increased 28% to 23 billion USD in 2022 from 18 billion USD in 2021. It is expected to grow 31% to hit 49 billion USD in 2025, according to the "e-Conomy SEA 2022" report released by Google, Temasek and Bain & Company.

Meanwhile, the Department of Digital Economy and Digital Society reported that the digital economy enjoyed growth in all the three aspects of the ICT economy, platform digital economy, and sectoral digital economy. IT services contributed the most to this economy, about 30%, followed by e-commerce (14.3%), and hardware production (12.83%).

The Lao dong (Labour) daily cited Tran Minh Tuan, Director of the Department of Digital Economy and Digital Society under the Ministry of Information and Communications, as saying that digital market, digital space, and digital data are necessary for developing a digital economy, and to do that, the first thing is to ensure digital infrastructure.

He noted the ministry has taken measures for building infrastructure to guarantee the development of the digital economy.

Stressing the importance of human resources, Vu Thi Minh Tu, Director for external relations at Lazada Vietnam, held that the quality of human resources for the digital economy in Vietnam remains modest while this is one of the factors affecting the economy’s sustainable development.

The Central Institute for Economic Management said to secure sustainable development, the country should perfect the legal framework, including regulations and policies on cyber security, competition, and taxes, in a way that promotes the role, responsibility, and rights of buyers.

Breakthrough created by digital economy
(BGO) – Digital economic development is one of three major pillars specified in Resolution No. 111 on June 11, 2021 of the Bac Giang provincial Party Committee about digital transformation in Bac Giang province in 2021 - 2025 period with the orientation to 2030. After one year implementation, many local businesses, cooperatives and households have actively applied digital economy with practical efficiency.
Digital transformation should be at car speed: expert
(BGO) - Digital transformation in agriculture is expected to create a breakthrough to develop modern and sustainable agriculture, bringing economic efficiency to producers. That goal is being pursued by the agricultural sector across the country as well as in Bac Giang province, but many difficulties are still ahead. Economic expert Nguyen Thi Thanh Thuc, member of the Executive Committee of the Vietnam Digital Agriculture Association, gave an interview to Bac Giang Newspaper on this issue.
Digital economy contributes 14.26% to GDP in 2022
The contribution of the digital economy to national GDP in 2022 accounted for about 14.26% of the total, with 7.18% contributed by the ICT digital economy.
Vietnam records best-ever performance in digital economic development
Vietnam is viewed as a country with high potential for fast digital economic development and digital transformation trend across all fields.
Bac Giang stays firm among top localities in digital transformation
(BGO) - Bac Giang has ranked 10th in the Digital Transformation Index (DTI) for two consecutive years. This result affirms the determination of the province in prompting administrative reform and building a government serving the people, striving to become one of the leading localities nationwide in the field of digital transformation.

Source: VNA

Vietnam, lucrative market, digital economy, second fastest growth pace, digital market stood, hardware production
New comment has just been added. Click here
Sort:NewBest News