Report: Digital economy to propel Vietnam forward

The findings of a report, entitled “Future of Vietnamese digital economy towards 2030 and 2045”, was announced in Ho Chi Minh City on May 22.
Report: Digital economy to propel Vietnam forward ảnh 1At the event (Photo: VNA)
HCM City (VNA) – The findings of a report, entitled “Future of Vietnamese digitaleconomy towards 2030 and 2045”, was announced in Ho Chi Minh City on May 22.

Commissionedby the Vietnamese Ministry of Science and Technology (MoST) and leading datainnovation group Data 61 under the Commonwealth Scientific and IndustrialResearch Organisation, the report is part of the Aus4Innovation programme worth6.8 million USD funded by the Australian government with the aim to strengthenlinkages between Australian and Vietnamese innovation systems.

Dr. LucyCameron, Data 61’s senior research consultant, said the report analysesmainstream trends affecting the future of Vietnam’s digital economy, including theimpacts of emerging digital technologies, new export markets for Vietnam,digital infrastructure development, demand for smart city development, increasein digital skills and services, and consumer behaviour changes.

On such basis,the MoST and Data 61 outlined four scenarios for the future of Vietnamese digitaleconomy till 2045, comprising of tradition, digital export, digitalconsumption and digital transition. Accordingly, information and communications technology (ICT)is expected to contribute 196 billion USD to the gross domestic product underthe “tradition” scenario, 217 billion USD in the “digital export” scenario, 331billion USD under the “digital consumption” scenario and 544 billion USD under the “Digitaltransition” scenario.

Thescenarios draw a comprehensive picture to help policymakers build plans for theVietnamese digital economy.

The reporthighlights priorities in the development roadmap of Vietnam’s digital economy,including ICT and energy infrastructure; cybersecurity; digital skills;modernisation of the government apparatus; the Fourth Industrial Revolution;and national innovation, taxation, and legal reform.

Cameronadded that digital economy is expected to contribute from 10 quadrillion to 20quadrillion USD to the world economy by 2045.

Infavourable conditions, digital application will help hike Vietnam’s GDP by 1.1percent each year until 2045. However, Vietnam needs to deal with challengesregarding climate change, its aging population, and limited labour output toachieve such a goal, she said. –VNA
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