Report: Digital economy to propel Vietnam forward hinh anh 1At the event (Photo: VNA)
HCM City (VNA) – 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.

Commissioned by the Vietnamese Ministry of Science and Technology (MoST) and leading data innovation group Data 61 under the Commonwealth Scientific and Industrial Research Organisation, the report is part of the Aus4Innovation programme worth 6.8 million USD funded by the Australian government with the aim to strengthen linkages between Australian and Vietnamese innovation systems.

Dr. Lucy Cameron, Data 61’s senior research consultant, said the report analyses mainstream trends affecting the future of Vietnam’s digital economy, including the impacts of emerging digital technologies, new export markets for Vietnam, digital infrastructure development, demand for smart city development, increase in digital skills and services, and consumer behaviour changes.

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

The scenarios draw a comprehensive picture to help policymakers build plans for the Vietnamese digital economy.

The report highlights 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.

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

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