Update news digital economy
Vietnam is enjoying the fastest growth rate of digital economy in Southeast Asia this year, with its compound annual growth rate (CAGR) in the 2022-2023 period of 19 percent. The leading position will continue in the 2023-2025 time.
E-commerce and digital economy are among the bright spots in Vietnam's socio-economic development.
Vietnam will remain the region’s fastest growing digital economy between 2023-2025, according to the 8th edition of the e-Conomy SEA Report published on November 7 by Google, Temasek and Bain & Company.
With a young population, a strong ability for digital transformation among consumers, and increasing digital consumption, Vietnam is anticipated to achieve digital economic growth of US$45 billion by 2025
Vietnam’s digital economy is expected to gain robust growth and reach an estimated US$45 billion by 2025, according to a joint report by Alphabet, Temasek Holdings, and Bain & Company.
Experts have pointed out that there are segments in the digital economy of Vietnam which could see a boom if they can receive appropriate investments.
Vietnam needs thousands of field application digital technology engineers to stimulate the nation’s digital transformation, industrialization and modernization. Digital re-training and education will satisfy the demand.
HCM City is developing a digital economy, aiming that it will make up 25 percent of its GRDP (gross regional domestic product) by 2025 and 40 percent by 2030. The figures are 5-10 percent higher than the nation’s targets.
The rapid development of digital assets, especially blockchain–based ones, and the emergence of new business models have posed unprecedented issues to policymakers around the world on how to ensure their proper development.
The country is poised to become the fastest-growing digital economy in Southeast Asia by 2023.
Minister of Information and Communications Nguyen Manh Hung says that the portion of the digital economy to GDP by the end of 2023 may reach over 17 percent, and with good solutions to stimulate the economy, the figure may reach 25 percent by 2025.
Many Vietnamese digital signature authentication service providers are seeking answers about the use of one digital signature for individual citizens.
According to experts, personal digital signatures used for electronic transactions satisfy need for authentication of a user's identity. It will be an indispensable part in digital transformation and digital economy development.
At the fifth session of the National Assembly that was held this May, it was decided that the Government will submit an amended Bill on Credit Institutions for approval at the next session of the National Assembly in October.
With 85.7 points, Hanoi stands second in the Vietnam E-Business Index (EBI) 2023 rankings, following Ho Chi Minh City.
The digital economy is expected to contribute 16 percent of Viet Nam’s GDP in 2023, according to a decision introducing an action plan for the National Committee on Digital Transformation.
For Vietnam to fully tap into the digital future, experts say institutions and policies must be reformed to reflect Government commitments.