Covid-19 and digital transformation

Digital transformation is keeping life going but in a ‘new normal’ state.

Minister of Information and Communications Nguyen Manh Hung said the Covid-19 pandemic poses a great challenge ad many activities have been delayed. But challenges come with opportunities. The Covid-19 pandemic helps us to rethink about many things. It is a breaking point in development. Many values and habits will change.

The Covid-19 pandemic reminds us that the world is more fragile than we think. Whenever humanity is too confident in themselves, that is the time of problems.

Globalization, cross-border flows of people, capital, goods and data have also brought a free flow of epidemics and crimes.

Only when a crisis occurs do we see the shortcomings of states and institutions. When things are going well, the worst case must still be taken into account.

Recent crises are often dual crises, not but also triple or more. Dual crises is the nature of a world in which everything is connected.

The world has more experience in dealing with economic crises than health crises. Non-traditional crises are more likely to occur, and often globally. That will be the great challenge for humanity.

Opportunities rise

Bộ trưởng Nguyễn Mạnh Hùng nói về Covid-19 và chuyển đổi số

Bluezone application helps identify suspected Covid-19 cases.

The Covid-19 pandemic offers the opportunity to accelerate digital transformation across the entire nation: the economy, the society; the state, the enterprises; the whole community, the entire people.

Vietnam has a comparative advantage in digital transformation. Vietnam has the advantage of having many strong telecommunications and IT enterprises, and this is the time to bring into full play the advantage to change the country’s rankings. Vietnam can take this opportunity to invest heavily in digital transformation and develop digital technology enterprises.

This is also an opportunity for developing the domestic market of 100 million people is the market, the largest resource in Vietnam. It is only during the pandemic that this value becomes apparent. Vietnamese businesses must consider the domestic market as the cradle to grow, mature and go global. It is also the time for the State is to pay attention to developing the domestic market, as a long-term plan.

Opportunities to build a self-reliant

“Make in Vietnam” economy. When the country has an emergency, it can only see the meaning of a self-reliant economy. Despite globalization and the opening, isolation must still be taken into account. Isolation without self-reliance means a higher risk.

This is a good opportunity to invest in healthcare, increase the use of technology in healthcare, remote medical examination and treatment, promote domestic production of medical equipment, to fight epidemics and create long-term capacity for the healthcare sector.

This is an opportunity to decide on issues that have been discussed but not yet decided, because when it is difficult, it is easier to make a decision. The State and enterprises can also take advantage of this opportunity to promote digital transformation, decide to apply new governance models, new business models, expand space, and create new products and services, based on new technology.

The Covid-19 pandemic also offers an opportunity to shift investment globally to disperse risks. Vietnam could be a destination for that shift. After 30 years of attracting foreign investment (FDI), we have had a new generation of FDI, which is conditional FDI, attracting high technology, large technology corporations, focusing on research and development.

 

In addition, the Covid-19 pandemic has aroused the core cultural values of Vietnam, the preeminent of the regime. And this is the strength for Vietnam to make breakthroughs. Countries develop based on spiritual and cultural strength. And this is also the lasting difference for Vietnam to compete for development.

Another opportunity from the Covid-19 pandemic is the effective and successful fight against epidemics in Asia, marking the rise of Asia. Asian values, from regime, institution to culture, will be affirmed after the pandemic, as the beginning of the Eastern era, which will create a new foothold for Vietnam. The world will look east more. This is an opportunity for us to stand shoulder to shoulder with other countries and contribute to the development of mankind.

The two-handed model, a free market and a strong state, have been confirmed in the Covid-19 prevention. Vietnam is more confident in its model, a strong market and a strong state model, to go up strongly. Market oriented, rapid development, innovation must go with good governance, modern governance. Scattering has to go toward focus. We will move towards these directions.

Covid-19 also makes us rethink excessive material consumerism, devastation of nature, and the disregarding of spiritual life. Digital transformation urges reduction of material spending, increase of time spent in spiritual life, and this is also a strength of Asia, a strength of Vietnam. Digital transformation has a new mission.

"Home-based economy" trend

Bộ trưởng Nguyễn Mạnh Hùng nói về Covid-19 và chuyển đổi số
Youth Union members come to each family to help people install and use Bluezone application.

Some economists have introduced the concept "home-based economy". Maybe this is not a really new concept. But the Covid-19 pandemic gives the "home-based economy" a new launch pad to truly come to life, even when the epidemic is over. Many economic activities in the past were still limited by the habits of the user, but Covid-19 has and will break those habits.

Although the home-based economy will not completely replace the traditional economy, if the home-based economy is fully utilized, it will help society operate more optimally and reduce stress on traffic and energy costs as well as save traveling time.

For example, if traditional education emphasizes the element of community, then the present period is an opportunity for digital education to manifest excellence. These are not just lectures delivered via online television, but with the latest technologies such as virtual reality, which make lessons more vivid.

In the field of healthcare, the Covid-19 epidemic has shown many advantages such as remote medical examination, which reduce pressure on hospitals and also reduce the possibility of cross-infection for patients.

From another perspective, the Covid-19 pandemic caused a crisis not only in terms of health, but also an economic crisis for a number of businesses. Then as a consequence, the unemployment rate will increase, there will be more people idle, so we also need to immediately think of a digital platform that helps these people quickly switch skills to rejoin into the labor market.

The Vietnamese digital technology business community should together provide many services on online platforms, from education, to healthcare, shopping, entertainment...

Usually, success often comes in the midst of crises. And this is a rare opportunity for digital technology businesses so that the lives that Covid-19 have taken and the effort that we are all making together against the epidemic will not be wasted.

VietNamNet

 
 

Other News

.
Businesswomen earn big money
Businesswomen earn big money
FEATUREicon  20/04/2021 

Nguyen Thi Phuong Thao, Cao Thi Ngoc Dung, Dang Thi Hoang Yen and Nguyen Thanh Phuong were in the news last week.

Bach Mai Hospital: staffers’ departure is the price of reshuffling
Bach Mai Hospital: staffers’ departure is the price of reshuffling
FEATUREicon  19/04/2021 

Bach Mai Hospital Director Nguyen Quang Tuan has affirmed that the departure of 28 doctors will not affect the hospital's operations.

5G: an opportunity to develop the ICT industry
5G: an opportunity to develop the ICT industry
FEATUREicon  19/04/2021 

Minister of Information and Communications Nguyen Manh Hung said that 5G is not just an opportunity to improve connection services and change Vietnam's telecommunications rankings, but also an opportunity to develop the country's ICT industry.

Vietnam in good position to start electric-car industry
Vietnam in good position to start electric-car industry
FEATUREicon  19/04/2021 

Vietnam has the opportunity to manufacture electric cars more easily than other countries with already well-established auto industries because Vietnam has no auto industry that would need to to sacrificed, experts have said.

When Party documents mention the concept of 'national governance’
When Party documents mention the concept of 'national governance’
FEATUREicon  19/04/2021 

One of the new features of the documents of the 13th National Party Congress is the emergence of the concept of "national governance".

Buyers of phony ‘mutant orchids' from disreputable sellers lose huge sums of money
Buyers of phony ‘mutant orchids' from disreputable sellers lose huge sums of money
FEATUREicon  18/04/2021 

What are some of the most popular investment channels in Vietnam? Real estate, securities, cryptocurrency and ... mutant orchids.

Special lessons given at border markers to local students
Special lessons given at border markers to local students
FEATUREicon  18/04/2021 

At 5 am, the fog still covered the mountain surrounding the Huong Lap Frontier Post. But the teacher, a border officer, was already correctly dressed in uniform, reviewing the lesson plan in a preparation for his teaching period in the field.

Investors in land, securities see high profits as prices rise
Investors in land, securities see high profits as prices rise
FEATUREicon  19/04/2021 

Realtors and securities investors have been pocketing big money in recent months.

The twins who built a sharing platform for young people
The twins who built a sharing platform for young people
FEATUREicon  17/04/2021 

Having experienced a difficult period of time finding directions for the future, a pair of twin sisters decided to establish an online platform to advise and troubleshoot problems for young people who are struggling to find goals for life.

Race for digital transformation: now or never
Race for digital transformation: now or never
FEATUREicon  16/04/2021 

The rules of the game in the future will be "quick fish eats slow fish". Even “giants,” without timely performing digital transformation, may lose ground to “rookies” that are young and agile in the 4.0 technological revolution.

Bach Mai Hospital faces mass resignation of staff
Bach Mai Hospital faces mass resignation of staff
FEATUREicon  16/04/2021 

More than 200 workers at Hanoi-based Bach Mai Hospital, the country’s leading hospital, have resigned from their posts. Some practitioners said they had left because of unreasonable changes in management.

Apartments sales drop, but developers still setting high prices
Apartments sales drop, but developers still setting high prices
FEATUREicon  17/04/2021 

No longer seen as a profitable investment segment, apartments are not selling well as investors have shifted to buy land instead.

Fintechs to partner with telecom carriers to offer Mobile Money
Fintechs to partner with telecom carriers to offer Mobile Money
FEATUREicon  16/04/2021 

The pilot program on providing the Mobile Money service is expected to increase non-cash transactions, especially in remote areas. To improve users' experience, fintechs should work with network operators, experts say.

Digital academy takes shape
Digital academy takes shape
FEATUREicon  17/04/2021 

The initial ecosystem for a digital school is taking shape at the Posts and Telecommunications Institute of Technology (PTIT).

Vietnam aims to be world's top exporter of quality rice
Vietnam aims to be world's top exporter of quality rice
FEATUREicon  19/04/2021 

In August 2020, when the Vietnam - EU Free Trade Agreement (EVFTA) took effect, Trung An High-tech Agriculture JSC exported about 150 tons of rice to the European Union. 

How can 'land fever' outbreaks be stopped?
How can 'land fever' outbreaks be stopped?
FEATUREicon  20/04/2021 

A “land fever” is spreading throughout the country, from the North to the South, from the lowlands to the mountains. Everywhere, the price for land of all kinds, from housing to industrial to farming land is increasing.

Four questions sparked Quang Ninh's awakening 10 years ago
Four questions sparked Quang Ninh's awakening 10 years ago
FEATUREicon  15/04/2021 

A decade ago, the northern province of Quang Ninh faced bottlenecks in infrastructure development. 

From failed college candidate to physics professor in the US
From failed college candidate to physics professor in the US
FEATUREicon  16/04/2021 

Dr. Nguyen Dong Hai spoke with VietNamNet about his path from a student who failed the university entrance exam in Vietnam to a professor of physics at Tennessee Wesleyan University in the US and his thoughts on pedagogical student training.

Female scientist with PhD in immunology pursues research on rare diseases
Female scientist with PhD in immunology pursues research on rare diseases
FEATUREicon  14/04/2021 

Tran Nguyen Kim Thi is a postdoc majoring in AI usage in medicine at the Huge Kaul Precision Medicine Institute at the University of Alabama in Birmingham (UAB) in the US.

Newly-elected NA Chair faces high expectations to fulfill President Ho Chi Minh's wishes
Newly-elected NA Chair faces high expectations to fulfill President Ho Chi Minh's wishes
FEATUREicon  14/04/2021 

When delivering the closing speech at the NA session, NA Chair Vuong Dinh Hue expressed his belief that newly elected deputies will uphold the spirit of dynamism and creativity, and will dare to think, dare to do, and dare to take responsibility.

 
 
 
Leave your comment on an article

OR QUICK LOGIN