Local businesses have been advised to make digital transformation of business and production procedures their top priority in an effort to enhance competitiveness and seize upon new market opportunities, particularly as they strive to swiftly recover from the COVID-19 impact, according to insiders. 

According to a Microsoft-run study in the Asia-Pacific region, digital transformation contributed approximately 6% to GDP in 2017, rising to 25% in 2019 and estimated 60% in 2021.

This study reveals that Vietnam’s digital readiness ranks 70th among 141 countries globally, scoring 12.06 out of 25 points.

In a recent survey conducted by McKensey Research Company of the United States, the Vietnamese digital economy is anticipated to exceed US$43 billion by 2025, focusing on areas such as e-commerce, online travel, online media, and ride-hailing services.

Most notably, the country’s GDP in 2030 is expected to increase to US$100 billion when the implementation of digital transformation proves to be effective.

In line with plans implemented by the Ministry of Information and Communications, last year can be viewed as the starting point for the national digital transformation process due to the involvement of several large information and communication technology enterprises.

Following the use of modern digital infrastructure such as the fifth-generation (5G) network and high-quality human resources, these firms are set to provide a solid foundation for digital transformation in the primary sectors.

Deputy Minister of Planning and Investment Tran Duy Dong said the programme 'Supporting Enterprises' Digital Transformation from 2021-2025' launched by the Ministry of Planning and Investment and the United States Agency for International Development (USAID) has served to boost digital transformation among firms. Indeed, there has been a specific focus on management and production activities that can help to create fresh products and services.

The USAID Linkages for Small and Medium Enterprises (LinkSME), in collaboration with the Ministry of Planning and Investment, will screen more than 500 micro, small- and medium-sized enterprises that possess a real demand for digital transformation as they strive to get involved in the implementation of the project.

Gregory Leon, Vietnam director of the Economic Growth and State Governance Office for the USAID, advised local firms to pay close attention to factors such as an improvement of awareness, technological foundations, data infrastructure, and human resources in order to enjoy a successful transformation.

The Ministry of Planning and Investment will continue to co-operate with USAID LinkSME Project in order to fulfill the schemes objectives with 100% of businesses increasing their awareness about digital transformation by 2025.

Moreover, approximately 100,000 enterprises are expected to receive technical support for digital transformation through the launch of a number of online lectures aimed at sharing knowledge of digital transformation among domestic firms.