Vietnam launches program to support SMEs in digital transformation

Phi Nhat 18:16, 2021/01/30

In 2021, the Ministry of Information and Communications will continue to hold the annual Viet Solutions competition to find productions/solutions to accelerate the digital transformation process.

A program to support small and medium enterprises in digital transformation (SMEdx) was launched on January 29 in Hanoi, with the aim of helping Vietnamese enterprises improve their capacity to dominate the markets in Vietnam and abroad.

Vietnam launches program to support SMEs in digital transformation. Photo: the Ministry of Information and Communications

It is one of the practical activities to support SMEs in digital transformation through Make in Vietnam platforms in 2021 led by the Ministry of Information and Communications in coordination with the Ministry of Planning and Investment, the Vietnam Chamber of Commerce and Industry, the Vietnam Association of Small and Medium Enterprises.

Speaking at the launching ceremony, Deputy Minister of Information and Communications Nguyen Huy Dung said the SMEdx is an opportunity for the small and medium-sized business community to learn and experience digital platforms (at https://smedx.vn), and find methods that can meet their needs.

The Ministry of Information and Communications will evaluate, select and make public the digital platforms under the Make in Vietnam program for the SME community to apply to their own operations.

The program will seek digital transformation solutions for SMEs according to specific fields and industries, Deputy Minister Dung said.

Vietnam currently has some 800,000 businesses, with more than 98% of them being the SMEs. More than 90% of the SMEs have been hit hard by the pandemic.

Many SMEs have faced difficulties in finding new markets while demand from the traditional markets shrinks due to the social distancing measures and dependence on intermediaries. In addition, their revenue dropped by more than 50% while they still had to bear production costs.

A recent survey showed that 24% of small businesses temporarily shut down and the number of newly established enterprises has decreased by 15%. About 47% of the surveyed enterprises recognized the need for digital transformation, but still have no idea of the process, according to the ministry.