Digital economy to fuel Vietnam’s rapid growth in future

Wednesday, 2019-05-22 16:36:18
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Dr. Lucy Cameron, senior research consultant at Data61|CSIRO speaking at the meeting. (Photo: VNA)
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NDO – A report on the future of Vietnam’s digital economy until 2030 and 2045, featuring four scenarios inVietnam’s digital economy, was announced by Australia’s leading data innovation group, Data61|CSIRO, and the Ho Chi Minh City Centre for Science and TechnologyProgress Application on May 22.

The report was jointly conducted by Vietnam’s Ministry of Science and Technology and Data61|CSIRO, which is part of the Australian-funded Aus4Innovation programme worth AUD10 million.

According to Dr. Lucy Cameron, senior research consultant at Data61|CSIRO, the report identifies key trends that will affect Vietnam's digital economy in the future, including the impacts of emerging digital technologies, Vietnam’s new export markets, the development of modern digital infrastructure, smart city development, the increase of digital skills and services, and changes in consumer behavior.

The report also builds four scenarios for the future of Vietnam's digital economy by 2045 based on the digitaltransformation level and the development of informationand technology in Vietnam.

Under the “traditional” scenario, digital technology isexpected to contribute US$196 billion to GDP, whileunder the "digital export" scenario, digital technology is expected to contribute US$217 billion to the nationalGDP.

Meanwhile, the scenarios of "digital consumption" and “digital transformation” are predicted to contribute US$331 billion and US$544 billion respectively to the GDP by 2045.

The scenarios also feature an overall picture for policy makers to build plans for Vietnam's digital economy in the future.

The report also outlines priority areas in the development roadmap for Vietnam's digital economy includinginformation-communication and energy infrastructure, network security, digital skills, the modernisation of the Government apparatus, Industry 4.0 and national innovation, tax reform and legal regulations.

Dr. Lucy Cameron said that, regarding a favourable scenario, digital applications will promote Vietnam's GDP growth by 1.1% per year until 2045. However, Vietnam also has to face and address major challenges including climate change, aging population, labour productivity, and others to achieve the above objectives, she noted.