Investments in digital technologies will boost the Vietnam economy by VND1.733 quadrillion (US$74 billion) from now till 2030, with the manufacturing, agriculture and food, and education as sectors that will benefit most, a report by economics consultancy Alpha Beta found.
The forecast, which looks at the potential of Vietnam’s digital economy, said demographics will drive digital adoption quickly. Citizens under the age of 35 years already accounts for 70% of its citizens under 35 years old. The literacy rate in the 15-35 age group is over 98%, higher than the average global rate of 91%.
Vietnam also has the second fastest growing Internet economy in Southeast Asia after Indonesia.
The report also said that the country has some way to go in embracing digital technology, and challenges include regulatory requirements, enabling connectivity nationwide, and a shortage of digitally skilled human resources.
Speaking at a workshop co-organised by the Ministry of Planning and Investment’s Vietnam National Innovation Centre (NIC) and Google, World Bank Lead Economist for Vietnam Jacques Morisset said Vietnam need to focus on upgrading digital skills for workers, encourage business innovation, and enhance the accessibility and quality of information.
To achieve their goals, NIC Director Vu Quoc Huy said the centre is cooperating with partners such as Google and Amazon to organise online training and capacity building programmes in technology, e-commerce application, and digital transformation for domestic businesses in the near future.