Vietnam has set a target to achieve a contribution of 20% to the GDP from the digital economy by 2025. (Photo: VNA) Specifically, Viettel Group, for example, has announced that the total revenue reached 163 trillion VND, with pre-tax profit exceeding 43 trillion VND. These numbers represent a growth rate of 6% and 3% respectively compared to the previous year, marking the highest profit level for the group in the past five years.
The Phu Nhuan Jewelry Joint Stock Company (PNJ) achieved a net revenue of 33,876 billion VND in 2022, a substantial increase of 73% compared to the same period. Sacombank also reported a pre-tax profit of over 6.3 trillion VND, showing a significant increase of 142%.
Businesses in Vietnam and around the world in general are making strong investments in technology, including automation on data platforms, analytics, and artificial intelligence. These investments have two main objectives - to increase operational efficiency while reducing costs, and to enhance values and customers’ experiences.
Vietnam has set a target to achieve a contribution of 20% to the GDP from the digital economy by 2025, and 30% by 2030.
However, during the process of digital transformation, businesses are facing barriers such as the leadership's awareness and mindset towards digital transformation; negative attitudes of employees, group interests, fear of multitasking; or concerns about data loss and security, among others.
Such obstacles are evident in the cases of clients that are consulted by Syllog, a Singapore-based company that provides consulting services in digital transformation and technology implementation, from 2021 to 2023.
"The most important aspect of digital transformation for a company, in addition to creating a culture of utilising data and automating processes on a data platform, is to establish a foundation and save resources for the company to transition to the data analysis and artificial intelligence phase, enabled by a standardised data system" said Hanh Nguyen, co-founder of Syllog.
“When properly advised and implemented, digital transformation enables businesses to unlock their potential, optimise resources, and achieve sustainable development,” she added./.
VNA
