Vietnam province pilots cashless market model

Vietnam province pilots cashless market model

Part of country’s digitalisation efforts.

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Quang Ninh, a province along the north-eastern coast of Vietnam is piloting a cashless digital payment model in two cities, Ha Long 1 and Ha Long 2. 

Viettel Quang Ninh, the supplier of non-cash payment services, is collaborating with the government to facilitate digital payments through the use of mobile phones, QR codes and digital bank transfers.

Viettel Quang Ninh's deputy director, Le Viet Ha, said that digitisation of payments is one of the solutions being used to achieve the state’s goal of raising the share of electronics payments to 50 percent by 2025.

Ha Long city’s public administration centre has advised citizens to make payments for bills for electricity, water, and environmental sanitation using digital means, Ha said.

The administration also looking to digitally receive tuition fees of educational institutions and schools run by it in Ha Long.

The authorities said they are striving to promote comprehensive digital transformation in administrative reform with the aim to attract more investment.

Vietnam had recently announced plans to develop a foundation for a modern and transparent digital financial ecosystem to apply Industry 4.0 technologies and digitally transform the finance sector.

The Vietnam Finance Ministry recently said it would offer more digital financial services to bolster the digital economy and will play a vital role in creating, connecting, and sharing data, digitising platforms, and optimising the digital information of the government, people, and organisations.

Since June, digitisation and data extraction platforms have been piloted at the provincial public administration service centre and in various sectors including labour, health care and many more.


Speaking to the Vietnam News Agency, Vietnam Software Association's deputy secretary general, An Ngoc Thao, said the country is currently witnessing a "powerful" digital transformation and hence firms must gear up for changes.

Vietnamese businesses have made significant progress in digitisation from state-owned enterprises to privates, large corporations and small and medium-sized enterprises (SMEs), he added.

“It may be alarming for firms to see their lower competitiveness in the long-term developments and greater obstacles if they fail to shape digital transformation today,” he said.

“For individuals and organisations that follow the active approach, they will have better preparation for the next stages and quickly gain a competitive edge.”

Technology companies have been active and creative in their contributions to digital transformation through homegrown platforms, technology products and services, he added.

However, he recommended being more specific in programmes to shape digital transformation and to partner consultancies for support.

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