Digital transition – crucial for Vietnamese enterprises

Hanoi (VNA) – Vietnamese enterprises are in a weak position in sharing the “revenue pie” of a digital economy, said Tran Dinh Thien, former director of the Vietnam Institute for Economics, at a conference on Vietnamese businesses and digital transition in Hanoi on July 18.

According to a survey conducted by the Ministry of Industry and Trade in 2018, up to 82 percent of Vietnamese enterprises and 16 out of 17 surveyed sectors showed low readiness for the fourth Industrial Revolution.

At present, Vietnam is studying and compiling a strategy on the fourth Industrial Revolution and an action programme on digital transition, and will put them into the Socio-economic Development Strategy for the 2021-2030 period.

In addition, a series of programmes on building hi-tech agriculture and smart cities, and developing smart tourism have been carried out by different ministries, sectors and localities.

However, it lacks concerted measures to bring into full play opportunities of the fourth industrial revolution and digital transition, Thien stated.

Director of the Vietnam Institute for Advanced Study in Mathematics Ho Tu Bao stressed that digital transition is crucial. He advised businesses to define a road map for the transition.

The success does not rely on technology, but the consciousness and strategy of an enterprise itself, he stated.

Nguyen Manh Hai from the Central Institute for Economic Management (CIEM) emphasised the need for state management agencies to carry out mechanisms and policies to reduce risks for parties involved in the sharing economy, and improve their understanding of digital economic services.

Ministries and sectors should intensify information and data sharing in state management so as to create favourable conditions for business in digital transition, he suggested.-VNA