According to the Director of the World Bank in Vietnam, digital development has been transforming economies globally, and in Vietnam, small businesses to large enterprises have caught up with the global economy. this digital economy.

Keeping pace with the digital economy

On the morning of March 7, 2019, in Hanoi, the Department of E-commerce and Digital Economy (Ministry of Industry and Trade) coordinated with the World Bank to organize a seminar on "Policy issues to support the development of Vietnam's digital economy". Nam", with the participation of Mr. Ousmane Dione, Director of the World Bank in Vietnam, Deputy Minister of Industry and Trade Cao Quoc Hung and representatives of the State Bank, enterprises such as VNPay, the Cybersecurity Department and the Department of Industry and Trade. fight high-tech crime…

Mr. Ousmane Dione, World Bank Country Director in Vietnam, said that the 4.0 revolution will have a significant impact on transforming the global digital economy. For Vietnam, if appropriate policies are adjusted to enhance the impact of the digital economy on economic development, create jobs and improve the quality of growth.

“Over the past time, from small business households to large enterprises in Vietnam have kept pace with the transformation of the digital economy,” said Mr. Ousmane Dione.

The dramatic changes in technology and digitization are recognized to have profound impacts on global trade, economic growth and social progress, and Vietnam is no exception.

Data from the Ministry of Industry and Trade shows that cross-border e-commerce has generated trillions of dollars in economic activity in recent years and is continuing to accelerate. The ability to transfer data across borders creates the foundation for new business models that have helped grow 10% of global GDP over the past decade.

"In general, it can be understood that the 4.0 revolution is built on the foundation of the digital revolution with advanced technologies increasingly helping to bridge the gap between the real world and the cyber world," said Deputy Minister of Industry and Trade. Ministry of Industry and Trade, Cao Quoc Hung said.

Today, half of the world's population is connected online, a third on social media, 53% is via mobile and covers all ages, races, geographies and backgrounds across the planet. . It is estimated that Southeast Asia's digital economy will reach 72 billion USD in 2018 and is expected to reach 240 billion USD in 2025.

In the Asia-Pacific region, the digital economy is predicted to account for 60% of the region's GDP by 2021 of Vietnam.

Adjust policy

According to Mr. Ousmane Dione, the important factors to promote the digital economy in Vietnam in the coming time continue to be the policy story.

Businesses strongly support the Vietnamese Government's goal of promoting the development of the Internet and the digital economy in Vietnam, while ensuring data security and protecting Internet users, especially In particular, Vietnam has approached in the right direction, with the foundation of the Law on Cybersecurity, thereby attracting more investment as well as paving the way for start-ups ...

However, experts of the World Bank, for the digital economy to develop sustainably, it is necessary to have synchronous support solutions and efforts from many sides, including policy changes. to match the movement of reality.

Acknowledging the process of perfecting the policy framework for the development of the digital economy in Vietnam, a representative of the Department of E-commerce and Digital Economy, the Ministry of Industry and Trade said that, in the past time, legal documents to promoting the development of the digital economy has a fairly complete basis.

It is a fact that while e-commerce develops rapidly in big cities, it shows more limitations in rural areas. Taking advantage of the e-commerce platform will open up the flow of goods, agricultural products, etc., speeding up the circulation of goods...

Report on the development of the digital economy in Vietnam, Department of E-commerce and Digital Economy, although there are differences in regions, but the digital economy increasingly asserts an important role. Vietnam currently has more than 96 million population, 64 million Internet users, 57% population with social network accounts.

In 2018, e-commerce grew by 30% with the total retail revenue of e-commerce reaching 8 billion USD. It is expected that by 2020, this number will reach from 13-15 billion USD.

Source: baodautu.vn