Seven major trends that affect Vietnam's digital economy
The mainstream trends conform a comprehensive picture to help policy makers build Vietnam`s digital economy plans.
The Data61|SCIRO under the Australian National Science Foundation has identified seven mainstream trends affecting Vietnam's digital economy future. The trends include the impact of emerging digital technologies, new export markets for Vietnam, the development of modern digital infrastructure, the need for smart city development, the increase in digital skills and services, and consumer behavior change.
Dr. Lucy Cameron talks about Vietnam's digital economy scenarios. Photo: Giang Huy
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The trends are also the basis for developing four scenarios for Vietnam's digital economy by 2030 – 2045, consisting of tradition, digital transition, digital export and digital consumption. Each scenario is likely to affect Vietnam's annual Gross Domestic Product (GDP) growth.
The Data61|SCIRO and Vietnam’s Ministry of Science and Technology have also released the report on the future of Vietnam's digital economy towards 2030 and 2045. The report analyzes trends affecting the development of Vietnam's digital economy by 2045.
Dr. Lucy Cameron, senior research consultant of Data61|CSIRO, the lead author of the report, stressed that Vietnam is one of the fastest growing economies in the world and one of the most dynamic countries in East Asia.
Cameron said the next waves of digital technology such as artificial intelligence, block chain, Internet of Things, cloud computing platform-based services have the potential to transform Vietnam into the next developed economy of Asia, adding that Vietnam needs to grasp the opportunities and limit some risks.
She noted that the economy’s future depends on Vietnam's position in the region’s digital map and the application level of digital products and services by the Vietnamese government, community and industry.
The report is part of the Australian government's Aus4Innovation program, which is worth US$10 million. The program is a strategic initiative designed to strengthen the links between Australia’s and Vietnam’s innovation system. The report is the first achievement of the Aus4Innovation program between Australia and Vietnam.
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