Hanoi (VNS/VNA) - The Ministry of Industry and Trade(MoIT)’s key task is to evaluate the building and adjustment of policies tosupport the development of the digital economy, according to Deputy MinisterCao Quoc Hung.
Along with e-commerce, Hung said that the digitaleconomy is both a challenge and opportunity for Vietnam to resolve majorissues in economic development, including the issuance and revision ofpolicies to make Vietnam more competitive globally.
According to a report from the MoIT’s Vietnam e-Commerce andDigital Economy Agency, Vietnam’s digital economy has been developing in termsof infrastructure and markets in the last decade.
There are currently 64 million internet users in thecountry, accounting for 57 percent of the population. With the increasingpenetration of the internet, mobile devices and social networks, more and moreindividuals are joining the e-commerce network.
The report shows a quarter of 1,000 surveyed people maketransactions through Facebook or Zalo.
In 2018, the country’s e-commerce growth reached 30 percent,marking total retail revenue of 8 billion USD. This figure is expected to reach13-15 billion USD by 2020.
The digital economy is expected to bring many opportunitiesto micro, small and medium-sized enterprises, including in foreigncountries. However, with the rapid development speed of the digital economy andthe opening of cyberspace, Vietnam is facing difficulties because oflimited awareness and low internet skills.
According to the report, the legal system and enforcementagencies are still weak. At the same time, popular forms of transactionsincluding cash payment and cash-on-delivery payment are still majorobstacles to increasing costs for society, businesses and consumers.
“Therefore, the development of digital economy and smartindustry is an urgent task in Vietnam today to help accelerate the process ofindustrialisation and modernisation,” the report said.
Deputy Director of the Ministry of Sciences and Technology’sHi-tech Department Dao Ngoc Chien said that enterprises need to integratedigital technology and promote solutions for production and business based ondigitisation.
“Along with that, enterprises will have to optimise theirbusiness models, develop new skills for each individual and organisationand effectively use smart supply chains,” Chien said.
"There must be an intellectual property managementsolution in the digital age suitable for new business models and cooperationmodels,” he added.
In science and technology, Chien said it is necessaryto have policies encouraging enterprises to transfer and apply newtechnologies. Meanwhile, it is important to complete a legal framework for theapplication of technology, promoting the development of digital infrastructureas well as boosting the application of information technology in theentire economy.
According to Ousmane Dione, Country Director of the WorldBank in Vietnam, to raise competitive capacity, Vietnam must build a legalenvironment that encourages innovation and competition, while protectingcustomers through effective regulations and coordination among Governmentagencies.
He said that Vietnam also needs to focus on policies toaccess secure payment services and provide e-commerce payment opportunities forcustomers and domestic and foreign businesses.-VNS/VNA
Along with e-commerce, Hung said that the digitaleconomy is both a challenge and opportunity for Vietnam to resolve majorissues in economic development, including the issuance and revision ofpolicies to make Vietnam more competitive globally.
According to a report from the MoIT’s Vietnam e-Commerce andDigital Economy Agency, Vietnam’s digital economy has been developing in termsof infrastructure and markets in the last decade.
There are currently 64 million internet users in thecountry, accounting for 57 percent of the population. With the increasingpenetration of the internet, mobile devices and social networks, more and moreindividuals are joining the e-commerce network.
The report shows a quarter of 1,000 surveyed people maketransactions through Facebook or Zalo.
In 2018, the country’s e-commerce growth reached 30 percent,marking total retail revenue of 8 billion USD. This figure is expected to reach13-15 billion USD by 2020.
The digital economy is expected to bring many opportunitiesto micro, small and medium-sized enterprises, including in foreigncountries. However, with the rapid development speed of the digital economy andthe opening of cyberspace, Vietnam is facing difficulties because oflimited awareness and low internet skills.
According to the report, the legal system and enforcementagencies are still weak. At the same time, popular forms of transactionsincluding cash payment and cash-on-delivery payment are still majorobstacles to increasing costs for society, businesses and consumers.
“Therefore, the development of digital economy and smartindustry is an urgent task in Vietnam today to help accelerate the process ofindustrialisation and modernisation,” the report said.
Deputy Director of the Ministry of Sciences and Technology’sHi-tech Department Dao Ngoc Chien said that enterprises need to integratedigital technology and promote solutions for production and business based ondigitisation.
“Along with that, enterprises will have to optimise theirbusiness models, develop new skills for each individual and organisationand effectively use smart supply chains,” Chien said.
"There must be an intellectual property managementsolution in the digital age suitable for new business models and cooperationmodels,” he added.
In science and technology, Chien said it is necessaryto have policies encouraging enterprises to transfer and apply newtechnologies. Meanwhile, it is important to complete a legal framework for theapplication of technology, promoting the development of digital infrastructureas well as boosting the application of information technology in theentire economy.
According to Ousmane Dione, Country Director of the WorldBank in Vietnam, to raise competitive capacity, Vietnam must build a legalenvironment that encourages innovation and competition, while protectingcustomers through effective regulations and coordination among Governmentagencies.
He said that Vietnam also needs to focus on policies toaccess secure payment services and provide e-commerce payment opportunities forcustomers and domestic and foreign businesses.-VNS/VNA
VNA
