Vietnam potential market for digitalisation, e-commerce
Vietnam has become an attractive destination for foreign firms and a potential market for digitalisation and electronic commerce, said Dato Lim Jock Hoi, Secretary General of the ASEAN.
Vietnam has become an attractive destination for foreign firms and a potential market for digitalisation and electronic commerce, said Dato Lim Jock Hoi, Secretary General of the ASEAN (Illustrative photo: VNA)
HCM City (VNA) – Vietnam has become an attractive destination for foreign firmsand a potential market for digitalisation and electronic commerce, said DatoLim 🔯Jock Hoi, Secretary General of the ASEAN.
Theofficial made the statement at a press conference announcing the results of adialogue between the Federation of the Japanese Chamber of Commerce andIndustry in ASEAN (FJCCIA) and the ASEAN Secretary General, which was held inHo Chi Minh City on July 23. Vietnamhas proved its position in the global economy. Notably, the country’s economymaintains an impressive growth rate with an open business climate, he added. Vietnamis now a member of many bilateral and multilateral free trade agreements,including those with great influence such as the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP) and the European Union-VietnamFree Trade Agreement (EVFTA). Inaddition, with a population of nearly 100 million, a low median age, and a highrate of Internet users, Vietnam is a strong potential market that foreigninvestors in the fields of digitalisation and e-commerce are keeping an eye on,the ASEAN Secretary General noted.
Accordingto Hiroyuki Ishige, Chairman of the Japan External Trade Organisation (JETRO),Vietnam and Japan have inked 36 memoranda of understanding totalling 21 billionUSD.
Recentreforms on administrative and customs procedures have helped address troublesfor firms in goods transport and foster foreign investment activities in the tradeand service sectors, he said, adding that Japan’s investment in Vietnam hasbeen on the rise.
In2017, Japan topped the list of countries and territories investing in Vietnamwith 9.11 billion USD, accounting for 25.4 percent of total capital.
Inthe first six months of this year, 🌠Japan also overcame 86 countries andterritories to become the largest foreign investor in Vietnam, with 6.47billion USD, or 31.8 percent of the total registered capital. –VNA
The digital economy has created new trends and demands and Vietnam should take advantage of these while preparing for necessary changes to build the digital economy, said Deputy Minister of Industry and Trade Cao Quoc Hung.
Vietnam has a chance to earn more than 3 billion USD when using 5G technology, said Denis Brunetti, President of Ericsson Vietnam, Myanmar, Cambodia and Laos.
Major trends of the Fourth Industrial Revolution and recommendations for Vietnam were the main topics of a seminar in Hanoi on July 13 in the framework of the Industry 4.0 Summit and Expo 2018 themed “Vision and Development Strategy in the Fourth Industrial Revolution.”
Vietnam’s banking sector has invested in developing technology amid the sweeping changes the 4th Industrial Revolution is bringing to the way people live and work.
Enterprises need to take actions in order to innovate themselves, towards stronger development amid difficulties, said Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc.
A key highlight will be the technology cluster pavilion, showcasing top enterprises selected for their innovation, market potential, and practical applications. These firms will display flagship products and solutions, supported by government policies to strengthen the tech sector.
Since 2022, more than 500 Vietnamese startups have engaged in Google’s Startup Academy, Google for Startups Accelerator, and Google Startup Masterclass. Nearly 100 of these firms received support to develop and improve their products, benefiting more than 300,000 customers and creating over 300 new jobs through successful fundraising and team expansion amidst Vietnam’s competitive economy.
Over the past three decades, Binh Duong has cemented its status as one of Vietnam’s most dynamic industrial hubs, building a robust foundation in manufacturing, exports, and investment. The province now has 30 operational industrial parks spanning over 13,000 hectares, with an occupancy rate exceeding 90%.
The diplomat emphasised that Vietnam places the highest priority on the development of science, technology, and innovation, viewing them as critical drivers for the country’s advancement in the new development era.
The PM revealed Vietnam’s plan to develop nuclear power in the near future, and called on the Swedish side to assist Vietnam in developing and refining legal and policy frameworks for the use of nuclear energy for peaceful purposes; training and developing human resources; ensuring nuclear safety; and conducting training and drills to improve incident management capabilities.
More than an art showcase, the second “Technology with heart” contest seeks to inspire innovation and spotlight the humanistic values that technology can bring into daily life, expected to contribute to a sustainable digital future.
The average speed of the national mobile broadband network remained stable, with download speeds reaching 76.86 Mbps and upload speeds reaching 26.98 Mbps.
Under the MoU, AMD will support several key initiatives spearheaded by HCM City’s authorities, including piloting policies, co-hosting innovation events, and evaluating the investment environment within the Saigon Hi-Tech Park.
The centre is a joint initiative between Australia’s Department of Foreign Affairs and Trade and Vietnam’s Ministry of Science and Technology, with PTIT and the University of Technology Sydney (UTS) serving as co-leads, and global telecommunications giant Nokia as founding industry partner.
The new centre, staffed by a team of scientists, researchers, and AI specialists working in Hanoi and Ho Chi Minh City, forms part of Qualcomm’s global AI research group.
As a flagship initiative of the community project “Digital Literacy for All”, the programme forms part of a national scheme to equip 20 million young people with digital business skills.
The organisers hope the competition will help shape a generation of exceptional engineers who will make significant contributions to Vietnam’s scientific and technological progress in this era of transformation.
In the digital age and amidst the Fourth Industrial Revolution, IP plays an increasingly critical role, not only in safeguarding inventions but also in reducing copyright infringement and curbing piracy.
Ambassador Nguyen Minh Vu laid stress on the significance of the Hanoi Convention, particularly to the Asia – Pacific, to handling legal gaps in international cooperation against rapidly increasing global cybercrime.
The week features a rich lineup of activities, including a plenary conference on blockchain and AI development, thematic seminars on future technology trends and investment visions, applications of blockchain and AI in business, the Super Vietnam PitchFest, as well as forums for blockchain and AI.
According to the Politburo’s Resolution No. 57-NQ/TW, dated December 22, 2024, on making breakthroughs in the development of science, technology, innovation, and national digital transformation, this is considered a decisive factor in the development of nations. It is seen as a prerequisite and the best opportunity for Vietnam to become prosperous and powerful in the new era of the nation’s rise.
Vietnam’s demographic advantage, including a youthful population of 100 million in a “golden age”, further bolsters its ambitions. Its dynamic workforce, with a natural inclination toward science, technology, engineering, and math (STEM), is a key asset in attracting private investment to innovation-driven sectors.
Vietnam views sci-tech as a decisive factor in national development and a key tool for achieving sustainable development goals, and is ready to boost sci-tech cooperation with Venezuela for mutual prosperity.
Vietnam has become an attractive destination for foreign firms and a potential market for digitalisation and electronic commerce, said Dato Lim Jock Hoi, Secretary General of the ASEAN (Illustrative photo: VNA) 
