The digital technology, if exploited to the maximum, may bring more than VND 1.733 quadrillion (or US$74 billion) to Viet Nam by 2030.

A workshop on potential of Viet Nam’s digital economy is jointly held by
the Viet Nam National Innovation Center (NIC), the Ministry of Planning
and Investment and Google, Ha Noi, October 18, 2021 - Photo: VGP

The information was released in a report about potential of Viet Nam’s digital economy, which was presented at a workshop jointly organized by the Viet Nam National Innovation Center (NIC), the Ministry of Planning and Investment and Google on October 18. 

The event aims to evaluate the status of digital economy in Viet Nam, its development outlook, and mechanisms and policies to boost digital economy. 

According to the report, the young, educated and tech-savvy population accounts for 70 percent of its citizens under 35 years old. 

The literacy rate in the 15-35 age group is over 98 percent, higher than the average global rate of 91 percent. About 70 percent of the population uses smart phones. Viet Nam also has the second fastest growing Internet economy in Southeast Asia after Indonesia.

World Bank Lead Economist for Viet Nam Jacques Morisset recommended that it is necessary for Viet Nam to focus on upgrading digital skills for workers, encouraging businesses’ innovation, and enhancing the accessibility and quality of information.

Meanwhile, in the WB’s report themed “Digital Viet Nam: The path to tomorrow”, which was released in October 2021, one silver-lining of the COVID-19 crisis is that it has accelerated the digital transformation in Viet Nam.

Accordingly, 60 percent of businesses are now using online tools and platforms and e-government has made available over 2,000 procedures online.