In 2021, Vietnam’s digital economy will reach 21 billion USD

Prioritize digital transformation, digital economy

Previously, Prime Minister Pham Minh Chinh – Chairman of the National Committee on Digital Transformation – identified digital conversion, building a digital government, a digital economy “is an inevitable trend of the world, an objective requirement of development. We can’t help but do it, can’t stay out of it”. This was emphasized once again by Deputy Prime Minister Le Minh Khai in his speech at Ho Chi Minh City Economic Forumtaking place on April 15.

Determined to pursue the development of the digital economy, the Party and State have issued many documents on guidelines and policies to actively participate in the implementation of the 4.0 industrial revolution and digital transformation. The document of the 13th Party Congress set out the request “To perfect the institution to promote the digital transformation process. Accelerate the development of a policy and legal framework for e-Government building, towards Digital Government”.

Resolution No. 52-NQ/TW dated September 27, 2019 of the Politburo on a number of guidelines and policies to actively participate in the industrial revolution 4.0, setting a goal that by 2025, the digital economy will account for 20% GDP. This ratio continues to be confirmed in Decision No. 749/QD-TTg dated June 3, 2020 of Prime Minister approving the “National Digital Transformation Program to 2025, with a vision to 2030”, in addition, the proportion of the digital economy in each industry and field must reach at least 10%.

The Resolution of the 13th National Congress of the Party determined to promote research, transfer and application of scientific and technological advances, innovation, and creativity, especially achievements of the industrial revolution. 4.0, implement national digital transformation, economic development number, improving productivity, quality, efficiency and competitiveness of the economy.

On March 31, 2022, the Prime Minister issued Decision No. 411/QD-TTg approving the National Strategy to develop the digital economy and digital society to 2025, with orientation to 2030, which sets forth breaking points and defining institutions, infrastructure, human resources, people, enterprise play an important role in the development of the digital economy.

Commented by Government InformationDigital economy development is a task placed at a high priority in national development strategies, and the conditions for the formation and development of the digital economy have been prepared relatively fully and comprehensively. .

The fastest growing digital economy in the region

After nearly four decades of industrialization, modernization and integration, Vietnam has become one of the countries with the fastest growing digital economy in Southeast Asia.

According to the report “e-Conomy SEA 2021” issued by the Corporation GoogleBain (USA) and Temasek (Singapore) jointly announced, Vietnam’s internet economy in 2021 will reach a value of 21 billion USD, contributing more than 5% of the country’s GDP, 7 times higher than in 2015, and is expected to reach 57 billion USD in 2025, standing second in Southeast Asia (growth rate is about 29% a year).

Meanwhile, the report “Vietnam’s digital economy potential” released by consulting firm Alpha Beta at the Conference “Vietnam’s digital economy potential” held by the Ministry of Planning and Investment and Google in October 2021, received determined that digital technology can bring more than 74 billion USD to Vietnam by 2030, equivalent to 27% of Vietnam’s GDP in 2020, if fully utilized.