Vietnam is the fastest-growing digital economy in Asia Pacific at a rate of 38% per year. The country is making efforts to push up digital transformation as a key strategy to boost the national economy. As a result, its digital sector is expected to contribute 30% to Vietnam’s economy by 2030. 

Vietnam’s digital economy in 2019 was valued at $12 billion, making up 5% of the nation’s GDP, or four times higher than 2015. The figure is predicted to reach $43 billion by 2025, with the fields of e-commerce, e-tourism, e-communication and e-hailing leading the way. Will Vietnam’s economy speed up to rank 1st in Southeast Asia?

During the COVID-19 pandemic, the Vietnam Government has applied policy and regulation encouraging enterprises to apply technologies in their workplace, especially with sectors that are thought to be slow to adopt digitalisation like public services, hospitals and healthcare, schools and education organisations. 

Many technologies and cloud players are also giving away free usage for enterprises to start educating them on how to improve their remote processes and create brand awareness through digital transformation. But this raises the question if Vietnam currently has a strong digital infrastructure enough to power the increasing demand and speed up digital transformation.

Cybersecurity is also a vital role that the Vietnamese Government cannot neglect. An alliance of Vietnamese enterprises, supported by Vietnam Ministry of Communication, called CoMeet was recently established with the purpose of providing tailor-made solutions for online meetings replacing Zoom. How could these initiatives speed up digital transformation?

These advancements are an extremely good sign for the Vietnam market, providing the local players are capable enough to survive on their own and compete against the international brands. 

How can Government and businesses drive this digital evolution? What are the challenges and how can we overcome these? Will the Vietnam dragons be unleashed after this pandemic?

Join us at the Digital Economy in Vietnam: Dragon Unleashed on to explore how Vietnam’s digital economy is rising up and find out how your business can soar in the digital age.