Digital technology can bring Vietnam $74 billion by 2030
The report Unlocking Vietnam's digital potential released by AlphaBeta this morning stated that possessing a young and tech-savvy population creates advantages for Vietnam in developing the digital economy.
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Agriculture is the industry that benefits from digital transformation. Source: Internet
Specifically, Vietnam has up to 70% of its citizens under the age of 35, the literacy rate of 15-35 years old is over 98% (surpassing the global rate of 91%), and more than a third of the population uses smartphone use.
In addition, Vietnam has the second fastest growing Internet economy in Southeast Asia (after Indonesia). A recent study conducted by Google predicts the total transaction value (GMV) of Internet economic services to grow by 29% annually from 2020 to 2025.
With such potential, according to the report, digital transformation could generate 1,733 trillion dong ($74 billion) in annual economic value for Vietnam - this amount is equivalent to 27% of Vietnam's GDP in 2020.
It is expected that the areas that will benefit the most from digital technology are manufacturing, agriculture and food, education and training. In which, agriculture and food are predicted to enjoy the most economic benefits and account for about 17% of the total value of the digital economy, equivalent to 302 trillion VND (13 billion USD) by 2030.
The report recommends eight key technologies that have the potential to create significant economic value for businesses, including: mobile Internet; cloud computing; big data; artificial intelligence (AI); financial technologies (fintech); Internet of Things (IoT) and remote sensing; advanced robots; and fabricating layers.
The three pillars of action necessary for Vietnam to make the most of the digital opportunity are to continue to develop the domestic technology ecosystem; improve digital skills for employees and students; develop an enabling environment for digital commerce, the report points out.
ctngoc