AI leading digital transformation, sharpening efficiency in Vietnam

Artificial intelligence (AI) is the fundamental technology driving digital transformation activities in Vietnam.

Illustrative photo (Photo: Internet)
Illustrative photo (Photo: Internet)

Hanoi (VNA) – Artificial intelligence (AI) is the fundamental technology driving digital transformation activities in Vietnam.

According to Tractica, AI is poised to generate nearly 11 billion USD annually for telecommunications companies in 2025 and is forecast to grow further as the AI application space continues to expand.

Arthur D. Little’s survey of representatives of 80 network operators worldwide, two-thirds of which have deployed AI in their operations, found that 71% cited improving customer experience as one of the main benefits of implementing it.

They have also optimised network operations, ranking second with 63% of respondents and improved labour efficiency (39%), and decision-making (31%).

Speaking at a recent workshop on digital transformation in Vietnam, Deputy Director of the Authority of Telecommunications under the Ministry of Information and Communications Nguyen Phong Nha said that the impact on Vietnamese telecommunications businesses mirrors that around the world.

AI will impact all business activities from network operations, marketing, and sales to business administration and measuring customer experience.In this context, Vietnamese telecommunications enterprises have been stepping up investment in data centre infrastructure.

According to statistics, Vietnamese enterprises currently have 44 data centres, with a total designed capacity of 181 MW, of which, 31 centres have provided services, with a total capacity of 81 MW.

“Data-related services will be a great opportunity for telecommunications enterprises in the near future,” Nha emphasised.

Nguyen Tuan Huy, head of Digital Transformation at MobiFone, said that digital transformation is the process of establishing a new, advanced, and modern production method.

AI, Internet of Things (IoT), Big Data, and cloud computing are becoming important production tools in many industries and fields."Data is like new gasoline, AI is like a new car, and people are the new drivers, entering a new era of development," Tuan said.

Applications in other industries

According to country general manager of AWS Vietnam Eric Yeo, not only telecommunications companies, many companies in other industries are cooperating with units like AWS to train on 5G, AI, data science, cloud computing, among others, to improve the capacity of human resources.

For example, Techcombank has partnered with AWS Vietnam to deploy Large Language Models to 250 employees.

Similarly, at VPBank, its Board of Directors and the Executive Board have learned new technologies, such as GenAI, in a top-down approach.

VIB Bank has recently used the AWS Skill Builder programme to train all employees, ensuring they are ready for the digital economy and equipped with cloud computing skills.Meanwhile, TymeX, a Fintech company in Vietnam serving the ASEAN market, has used Amazon Q Developer to help application developers increase productivity by up to 40% and improve testing efficiency by up to 90%.

To perfect the legal framework for digital transformation, Alejandro Osorio, Managing Director of Grab Vietnam, suggested that first of all, there should be a testing mechanism (sandbox) to welcome new potential technologies.

In addition, it is necessary to regularly review and re-evaluate existing policies to ensure that laws and regulations are in line with reality.

Stakeholders can work together to find appropriate solutions in this context./.

VNA

See more

The Vietnamese section of the Monsoon – Thanh My 500kV transmission line project (Photo: VNA)

500kV transmission line from Laos energised

The Monsoon – Thanh My 500kV transmission line project is designed to import electricity from Laos’ Monsoon wind power plant to Vietnam, adding 600 MW to the national power grid during the 2024–2025 period.​

The entrance gate to Hanoi’s Ciputra Urban Area, where banks are selling apartments and villas. (Photo: cafef.vn)

Banks selling mortgaged assets to recover bad debts

The Viet Dragon Securities Company (VDSC) said that bad debts might continue to increase slightly this year, after a circular allowing banks to reschedule debt repayment periods and maintain the debt group for certain sectors expired at the end of 2024.

Vietnamese Ambassador to Argentina Bui Van Nghi (th fourth from the fright) in the meeting with Governor of Brazil's Espirito Santo state Renato Casagrande. (Photo: VNA)

Vietnam seeks to set up cooperation with Brazilian locality

In his meeting with Governor of Brazil's Espirito Santo Renato Casagrande, Ambassador to Argentina Bui Van Nghi Bui Van Nghi valued the potential for cooperation between the two sides, particularly in priority areas such as tourism, information technology, hi-tech agriculture, and seaport.

Remittances to Vietnam in 2024 are estimated at about 16 billion USD, maintaining the record-high levels seen in 2023. (Photo: VNA)

Remittances surge as Tet approaches

According to the State Bank of Vietnam’s Ho Chi Minh City branch, 9.6 billion USD, or 60% of the total remittances, flew through financial institutions, representing a 140 million USD increase from the previous year.

Bank lending in HCM City achieves high growth last year. (Photo courtesy of ABBANK)

Banks' credit up 11.3% in HCM City in 2024

Total outstanding loans of credit institutions in Ho Chi Minh City as of the end of last year were worth over 3.9 quadrillion VND (153.3 billion USD), a 11.3% increase for the year, according to the central bank.

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year. (Photo: https://doanhnhansaigon.vn)

Remittances to HCM City surge ahead of Tet

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam's HCM City branch.

Illustrative photo (Photo: VNA)

Retail petrol prices down in latest adjustment

The price of E5RON92 bio-fuel was priced at 20,592 VND (0.82 USD) per litre, representing a 158 VND decrease from the previous baseline, while RON95-III decreased to 21,142 VND per litre, down 78 VND.