Vietnam-made digital platforms have been developing rapidly in recent year. A report from the Department of Digital Economy and Digital Society shows that the total number of monthly digital platform users via mobile apps in Vietnam has surpassed 500 million. There are digital platforms with large coverage, namely Zalo (social network), MoMo (e-wallet) and Coc Coc.

In order to speed up digital transformation, there need to be more Make in Vietnam digital platforms. And the platforms can only take off if they can get support from the state.

Mai Thi Thanh Oanh, deputy CEO of Coc Coc, proposed that state management agencies support domestic platforms by playing the bridging role.

Coc Coc hopes state agencies help create ‘touch points’ with people when launching programs and organizing activities, so that people can understand and try digital platforms. The events will improve people’s awareness and skills, and create the habit of communicating in a digital world.

Also, the agencies can also become a bridge that connect digital platforms and businesses, so that Vietnam’s digital platforms can have opportunities to provide digital transformation solutions to Vietnam’s businesses.

“As a bridge, the state needs to help domestic platforms access big resources in technology, finance and workforce to update modern technologies and upgrade platforms’ capabilities,” Oanh said.

Nguyen Thuong Tuong Minh, CEO of Base.vn, said the biggest wish of Vietnamese digital platform developers like Base.vn is accessing, connecting and helping Vietnam’s businesses deploy high technology. 

However, there is still a gap between digital platforms and Vietnam’s businesses.

According to Minh, while Vietnam gears up for digital transformation, the state needs to take more drastic moves to bridge digital transformation platforms and the business community.

“What needs to be done now is popularizing basic digital platforms and accelerate the deployment of new platforms via some leading businesses, including small and medium enterprises (SMEs),” he said.

Legal framework

Mentioning the state’s support, businesses usually think of legal support, which means the state needs to set up a reasonable legal framework for Vietnamese digital platforms to develop.

Doan Huu Hau from FPT Digital said it is necessary to reconsider procedures and regimes related to investment in IT (information technology) and digital transformation.

Sandbox models, such as those designed by the State Bank of Vietnam (SBV) for some kinds of financial and banking services, should also be tried for IT.

At present, many organizations face problems related to investment procedures and the investment efficiency scheme.

The representative from FPT Digital said that in order to accelerate national digital transformation, Vietnam has to accept ‘fail fast, fail cheap’ principle.

“Digital transformation is an opportunity which should be invested in. But once the investment is completed, survival needs to be re-assessed. With the ‘fail fast’ principle, we need to re-assess investment efficiency after certain short periods,” Hau said. 

Meanwhile, Oanh emphasized the necessity for a legal framework supporting the development and popularity of Make in Vietnam digital platforms.

More favorable conditions for healthy competition should be created between Vietnam-made platforms and foreign-made imports with the principle that Vietnamese data must be stored in Vietnam.

Minister of Information and Communications Nguyen Manh Hung has said many times at events about digital transformation that the answer is Vietnam-made digital platforms. Without those, the people who can benefit from the transformation won’t be Vietnamese. 

Digital platforms are an important element to help transform the economy. It is also a 'must have' strategy for each business, helping businesses seek new markets internationally.

Thai Khang