Investment News

Expectations for growth in the digital economy


While global trade has not yet clearly recovered, many experts believe that Vietnam's digital economy will be one of the growth pillars to help Vietnam's economy develop sustainably.

 Non-cash payment at Big C Thang Long supermarket. Photo: HAI NGUYEN

According to a recent report by E-conomy SEA (a unit providing information on the Southeast Asian Internet economy of Google, Temasek and Bain Company), it is forecast that the scale of Vietnam's digital economy could reach 50 billion USD in 2025. In particular, e-commerce will be the field with the most important contribution. Also according to this report, the scale of the retail e-commerce market in Vietnam will grow by 28% (reaching 23 billion USD) in 2022.

With practical results, Associate Professor Pham Cong Hiep (RMIT University) recognizes that e-commerce is one of the driving forces of Vietnam's digital economy, sustainable development of this industry is becoming a an inevitable requirement after the turbulent COVID-19 epidemic period. Many Vietnamese businesses are also focusing on building digital economic networks and putting into practice sustainable development strategies.

Similarly, Mr. Vu Quoc Huy - Director of the National Innovation Center (NIC) - said that in recent times, the center has signed cooperation agreements with many businesses to build a human resource foundation. digital, serving the digital economy.

Mr. Huy believes that the digital human resources platform will be the driving force to bring general knowledge about the job market, so that employers can adjust and use labor resources effectively and appropriately. suitable for the labor market in the digital economy.

Referring to this content, Ms. Vu Thi Minh Tu - Director of External Relations of Lazada Vietnam - also emphasized that in order to sustainably develop the digital economy, in addition to the efforts of the authorities, over time the community Businesses have also taken specific actions. But also according to Ms. Vu Thi Minh Tu, the quality of human resources for the digital economy in Vietnam is still limited, while this is one of the factors affecting sustainable development of the digital economy.

While the digital economy, digital infrastructure, and digital platforms continue to be facilitated for development, a recent report from the Ministry of Information and Communications shows that the digital economy accounts for a large proportion of over 15.2% of GDP. in the first 6 months of 2023.

Professor Dr. To Trung Thanh (National Economics University) commented that the investment in the digital economy in Vietnam is still very large, this is an opportunity to invest in the digital economy and develop more business lines. new, opening up new markets, thereby making a breakthrough in the context of increasingly fierce competition. While domestic demand growth is low and export turnover is continuously declining, this is an opportunity for businesses to invest in the digital economy, converting from traditional activities to digital production and business.

Decision 411/QD-TTg of the Prime Minister on the National Strategy for developing the digital economy and digital society to 2025, with a vision to 2030, setting a target of 20% of the digital economy by 2025. GDP; The proportion of digital economy in each industry and field reaches at least 10%; E-commerce in total retail sales reached over 10%; The rate of businesses using electronic contracts reached over 80%; Over 50% of small and medium-sized businesses use digital platforms...

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