A boost for digital economy
15:29 | 07/03/2019

VGP – The Department of E-Commerce and Digital Economy and the World Bank held a workshop to discuss policies supporting the development of the Vietnamese digital economy on March 7 in Ha Noi.

Illustraton photo

The digital economy is defined as one of the key pillars and plays an important role in economic growth and making  breakthroughs for countries. 

In Viet Nam, positive commitments were made especially in policy making and technology in favor of digital economy development. 

Addressing the event, Deputy Minister of Industry and Trade Cao Quoc Hung reported that we are living in the world which is being shaped by the fourth industrial revolution (Industry 4.0) with profound changes of technologies and digital transformation that are deeply affecting global trade, economic growth, and social advancement. 

Mr. Hung added Industry 4.0 has remarkably contributed to transforming the digital economy globally.  

So far, a half of the world population is connected online. A third get involved in social network. About 53% of them use mobile phones. 

In the Southeast Asian region, the digital economy hit US$ 72 billion in 2018 and is expected to touch US$ 240 billion by 2025. In the Asia-Pacific region, the digital economy is expected to account for 60% of GDP in 2021. The digital economy has covered all scopes of the economy and society. 

Deputy Minister Hung stressed that the Ministry of Industry and Trade considers adjustment of supportive policies for digital economy development as a top task in the coming time. 

In Viet Nam, among the 96 million population, 64 million people are Internet subscribers. Up to 57% of the population has social accounts. 

In 2018, e-commerce grew 30%. Total trade revenue valued US$ 8 million. The sector is expected to hit US$ 13-15 billion by 2020. 

Ms. Natasha Beschorner, a WB senior expert of information technology policy said that Viet Nam positions in a region which digital enterprises enjoy abundant potentials for fast growth rates like Google.

However, the expert stressed the importance of combining e-digital services of the Government and enterprises. So far, the proportion of digital payment remains low while cash payment is preferred.

According to Ms. Natasha Beschorner, logistics plays an important role for digital economy development./.

By Khanh Phuong 

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