CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / SCIENCE & TECH
Digital transformation offers Vietnam pathway to prosperity : Minister
Hai Yen 14:11, 2019/01/18
Vietnam has to accept and integrate new things much faster than others. Staying behind or moving at the same pace, there would be no chance for Vietnam to catch up with others, a minister has said.
Digital transformation is an inevitable trend and would offer Vietnam a pathway to prosperity, according to Nguyen Manh Hung, minister of information and communications.
 
Minister of Information and Communications Nguyen Manh Hung. Source: Zing.
Minister of Information and Communications Nguyen Manh Hung. Source: Zing.
As part of the digital transformation, a digital economy would help Vietnam increase productivity and economic growth, Hung said at the Vietnam Economic Forum on January 17.

Such growth is considered sustainable, which is more of a knowledge-based instead of natural resources exploitation. Moreover, the cost to participate in a digital economy is low, enabling a wider public involvement, Hung added. 

Digital economy first came to Vietnam since the late 1980s with the appearance of personal computers, which later grew strongly thanks to internet and smartphones in the late 2000s. 

More importantly, the Fourth Industrial Revolution in late 2010 has provided a solid platform for the digital economy in Vietnam to boom, Hung continued. 

According to Hung, in 2019, the Ministry of Information and Communications (MIC) would submit to Prime Minister Nguyen Xuan Phuc proposal on national digital transformation, providing measures to help develop Vietnamese digital enterprises. 

In addition to new opportunities, digital technologies also give birth to new business models in replacement of the old ones and create new challenges, Hung stressed, which are the cases of Uber and Grab against traditional taxis and fintech against banks. 

The problem lies in whether new business models are accepted, as this is the only way for new technologies and talents from all over the world to come to Vietnam, and ultimately the birth of new industries, Hung added. 

However, Vietnam has to accept and integrate new things much faster than others. He stated that staying behind or moving at the same pace, there would be no chance for Vietnam to change the country’s position. There will always be a risk of losing if Vietnam accepts new things, but with not much to lose, so this is Vietnam’s opportunity, Hung emphasized. 

Hung proposed a sandbox approach, which is a closed testing environment designed for experimenting new things, so that policy makers could monitor and draft up suitable policies. 

Hung pointed to major factors supporting the development of Vietnam’s digital economy, including international standard IT infrastructure, appropriate legal frameworks, and human resources. 
Comments
Other news
18:41, 2024/12/05
Hanoi honors outstanding faces in innovation, digital transformation
The Final Round of the Capital's Innovation and Digital Transformation Products Competition 2024 aims to honor exemplary figures in innovation and digital transformation.
16:32, 2024/11/16
Land deed digitization accelerated in Hanoi
Hanoi's digital environment has been driven by a synchronized information technology infrastructure for management in the making.
18:33, 2024/10/30
Vietnam's capital boosts iHanoi usage by citizens
Hanoi will further improve the iHanoi app by adding more features to make it more user-friendly for citizens and businesses.
22:28, 2024/10/22
Technology, innovation identified as key drivers for Hanoi's growth
Hanoi is a hub for scientific and technological cooperation among many provinces and cities in Vietnam, as well as research institutions around the world.
19:10, 2024/10/17
Hanoi intensifies efforts to achieve its digital goals by 2025
In Hanoi, digital transformation is always a top priority to support management and resolution procedures for people and businesses.
22:44, 2024/09/18
Second Hanoi Technical Innovation Contest launched
The competition aims to promote the creative work in science and technology.