Digital trade and opportunities for Vietnam discussed
Vietnam has been earning significant revenue from digital trade, which could be higher in the future, Director of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung said at a workshop in Hanoi on March 26.
At the workshop (Photo: VNA)Hanoi (VNA) – Vietnam has been earning significant revenue from digital trade, which could be higher in the future, Director of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung said at a workshop in Hanoi on March 26.
According to a report on “The Data Revolution: How Vietnam can capture the digital trade opportunity at home and abroad” released by AlphaBeta, the economic value of digital trade-enabled benefits to the Vietnamese economy is estimated to be worth 81 trillion VND (3.5 billion USD) in 2017 but this could grow to 953 trillion VND (41 billion USD) by 2030.
Besides, digital exports brought home 97 trillion VND, which will increase to 652 trillion VND ahead of 2030, the report said.
Economists suggested Vietnam work to reduce limitations relating to foreign investment, competition policies, and cross-border data flow.
Konstantin Matthies, a representative from AlphaBeta, said the Vietnamese Government and policy makers should consider the importance of digital trade in building economy and trade policies.
Experts advised businesses to make use of opportunities from digital trade by increasing connectivity with overseas markets and domestic productivity.-VNA
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