Illustrative image (Photo: congthuong.vn) Hanoi (VNA) - Vietnamwill need to do more if it wants to become a digital powerhouse as envisioned inthe socio-economic development strategy adopted by the Party in February 2021,said a report of the World Bank.
In its latest edition of Taking Stock – the World Bank’s biannual update onVietnam’s economic performance, the WB stressedthat Vietnam needs to ensure the development of a digitally skilled labourforce, the emergence of a dynamic and agile local private sector, and good butsecure access to information.
The report reviews the recent developments inthe Vietnamese economy and discusses the economy’s short- to medium-termprospects, highlighting domestic and external risks associated to the COVID-19 pandemic.
The reportsaid that in order to improve its economic autonomy, Vietnam needs to takeadvantage of existing conditions to become a digitalpowerhouse.
“While downside risks have heightened, economic fundamentals remain solid in Vietnam, and the economy could converge toward the pre-pandemic GDP growth rate of 6.5 to 7 percent from 2022 onward”, Rahul Kitchlu, World Bank Acting Country Director for Vietnam, said in the WB's recent press release.
Vietnam aims to be among the top 50 countries in the ICTDevelopment Index as early as 2025, and its digital economy is hope to account forone third of the country's GDP by the end of the decade, instead of only 5percent.
According to Jacques Morisset, WB Lead Economist for Vietnam,digital transformation is happening in Vietnam and the COVID-19 shock is a bigdriving factor. Since the appearance of the COVID-19 pandemic,Vietnam has witnessed a great change in the application of new digitizationtools in both private and public sectors.
The WBestimated that in June 2021, about two-thirds of private enterprises in Vietnamhave access to technologies related to the digital economy. This is a huge leapfrom the pre-COVID-19 period.
Vietnam still has a lot of work to do,Morisset said.
In addition to upgrading infrastructure,Vietnam needs to encourage the application of digital technology and attractinvestment to create conditions for small businesses to participate in thedigital economy, he added.
He also underlined the necessity for Vietnam to upgradedigital technology infrastructures, and equip workers with digital skills tohelp them become more dynamic in adapting to new technologies.
In the short term, Vietnam can take advantage of the presence of many famoustechnology enterprises such as Intel, Apple and Samsung to learn and improvedigital skills for local labourers working for these corporations, he said.
The Vietnamese Government can issue a seriesof initiatives to attract talents from expatriates working in digital technologyfields around the world, he added./.
