“Vietnam has full advantages to develop the digital economy”
Sharing with the press after a business trip to Vietnam, Mr. Rafael Frankel, Public Policy Director for South Asia and Southeast Asia of Meta Company (formerly Facebook), said that there are important factors for Vietnam. development of the digital economy is strong entrepreneurship, young population, focus on innovation and the Government has a vision for digital development in the next decade.
“This is my first business trip to Vietnam since the COVID-19 pandemic and I am pleased to see that the country and its people are recovering from the pandemic faster and better than anticipated.
In Vietnam, the digital economy is becoming increasingly important, accounting for more than 8% of the country’s GDP, and the development potential of the digital economy is huge. Vietnam has a very creative workforce. This team will play an important role in the workforce of the future. With the emergence of the Metaverse (Digital Universe), Vietnam has the potential to lead this space through innovation and creative freedom,” emphasized Mr.
Mr. Rafael Frankel, Public Policy Manager for South Asia and Southeast Asia at Meta Company (Photo: Government Newspaper)
Speaking more about specific programs this year in Vietnam, Mr. Rafael Frankel said that Meta is embarking on many ambitious programs by 2022, both contributing to the economic recovery as well as the economic recovery process. contribute to the development of the digital economy.
“We continue to support small and medium-sized businesses (SMEs) in their digital transformation to quickly recover from Covid-19 and thrive in the long term. We will deliver on this goal through through direct cooperation with ministries such as the Ministry of Planning and Investment (MPI), or through key programs such as #SheMeansBusiness (Women as Entrepreneurs) and Boost with Facebook (Business Launchers)”, Rafael Frankel said.
According to Mr. Rafael Franken, in 2021, Meta has trained nearly 40,000 SMEs through face-to-face and online activities. By 2022, Meta aims to expand its training model to reach more than 15,000 SMEs nationwide and thousands more through on-demand training programs.
Photos at the festival “Women of the Times – Success and Shine” to honor the contributions of women to the economic and social development of the country as well as kick off the 3rd year of the Women’s Program female entrepreneurs (#SheMeansBusiness) in Vietnam.
When asked about Meta’s ambitions with Metaverse, Mr. Rafael Frankel affirmed, this is the next development of social technology and of the mobile internet. Although it cannot happen overnight, Metaverse will open up new opportunities for everyone.
“As we begin our journey to realizing Metaverse, we hope that within a decade, Metaverse will reach millions of people in Vietnam and support the jobs of creative individuals and developers in Vietnam. as well as in the world,” emphasized Public Policy Director for South Asia and Southeast Asia, Meta.
In the ASEAN region, according to the e-Conomy SEA 2020, the Internet/platform digital economy alone in 2020 has reached about US$ 105 billion (up 5% compared to 2019) and is expected to reach 2025. reached 309 billion USD.
The two leading representatives in the region, Indonesia and Vietnam, have growth rates exceeding 40%/year. By 2025, the digital economy in the region is forecast to triple, reaching $300 billion, narrowing the gap with more developed markets in terms of contribution to GDP.
According to the e-Conomy SEA Report 2020, only the Internet/platform digital economy component alone, Vietnam has reached 14 billion USD, ranking third in ASEAN, but the country with the highest growth rate in this field. with an increase of 16%, the country with the next highest increase is Indonesia with 11%, and Thailand with 7%. This report also forecasts that by 2025, Vietnam’s Internet/platform digital economy will reach US$52 billion.
Particularly in 2021, the General Statistics Office estimates that Vietnam’s digital economy will reach about $163 billion, accounting for about 8.2% of the country’s GDP, of which the ICT/VT digital economy component will reach $126 billion, accounting for 5.5 % of GDP, the Internet/platform digital economy reached 14 billion USD, accounting for 1% of GDP and the industry/field digital economy reached about 23 billion USD, accounting for 1.7% of GDP.
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