Digital transformation has become a global trend and Vietnam is no exception. In the context of increasingly advanced technology, digital transformation has become an indispensable requirement for organizations and countries. Let's join NLT Group to learn about the current status and trends of digital transformation in Vietnam.
Current status of digital transformation in Vietnam
Vietnam has a lot of potential in quantity transformation. This helps with a dynamic young population, rapid economic growth and access to high technology. Domestic technology companies have recorded significant growth in corporate value. According to the commercial company's report, digital businesses grew nearly 10%. At the same time, the ranking of the e-Government development index increased by 3 places.
- In business: Vietnamese businesses have been aware of the formula and application of digital technology in many stages of operations. Including internal administration, purchasing, logistics, production, marketing, sales and payments. Especially in remote personnel management, online parliament, online learning and internal approvals.
- In services: Fields such as finance, tourism and transportation are witnessing strong development of digital transformation. The bank has developed digital banking services. Online ride-hailing businesses such as Grab, Go Jet, and Be Viet Nam also replace traditional motorbike taxis. VinGroup has also built a customer management system through VinID.
- In other fields: More than 30 cities have invested in building elements in Smart Cities. The government is also working to build e-government to deliver digital transformation. Vietnam has good telecommunications and information technology infrastructure. With high internet user passwords and the development of 5G services, I am experimenting. This technology will create business opportunities for Vietnamese businesses.
See more: The future trend of digital transformation in education
6 trends in digital transformation in Vietnam in 2024
Strengthen technical infrastructure
The Vietnamese government is investing heavily in digital infrastructure. The purpose is to promote digital transformation. Including telecommunications, internet and smart grid systems. This is to create a favorable environment for the deployment of digital services and applications. Telecommunications infrastructure projects such as optical telecommunications, undersea fiber optic cables and wireless telecommunications will continue to be deployed and upgraded. The grid system will also be improved, supporting the development of new technologies including smart grids and renewable energy.
Strengthening the 5G telecommunications network
Vietnam has deployed its 5G network since 2020. It is expected to continue expanding and improving this platform in 2023. The 5G network will create new opportunities for advanced technology applications. Popular are the Internet of Things (IoT), artificial intelligence (AI) and augmented reality (AR/VR). This will result in faster data transfer speeds and lower latency. Especially the ability to connect millions of devices at the same time.
Developing e-commerce and electronic transactions
The growth of digital transformation has created many opportunities for e-commerce in Vietnam. In 2023, a continued increase in online shopping and electronic transactions is expected. Businesses will continue to open online stores. Along with that, increase presence on e-commerce platforms.
Thereby, developing safe and convenient online payment solutions. At the same time, businesses will take advantage of new technologies such as artificial intelligence and data analysis. Thereby improving the shopping experience and enhancing business efficiency.
Encourage technology startups following digital transformation
The Vietnamese government is creating an environment to promote technology startups and innovation. In 2023, it is expected that there will be increased support and encouragement for technology startups. Startup policies, technology investment funds and training programs will continue to be implemented.
The goal is to create a favorable environment for the development of small and medium-sized technology companies. In particular, fields such as fintech (financial technology), edtech (educational technology) and healthtech (medical technology) will receive special attention.
Digital transformation in traditional industries
Vietnam is a country with many traditional industries. Such as manufacturing, agriculture and tourism. It is expected that these industries will continue the trend of digital transformation. To enhance productivity and improve business efficiency.
Companies and businesses in these industries will continue to invest in automation and robotization. Along with that is the application of technology such as artificial intelligence, IoT and big data. Next, optimize production processes and resource management. Thanks to this, we provide better service to customers.
Security and data management in digital transformation
With the development of digital transformation, security and data management become an important issue. Organizations and individuals will strengthen their information security capabilities. Along with that is compliance with privacy regulations. Ensuring information security and proper data management is necessary to maintain customer trust. Ensure compliance with legal regulations on privacy and data protection.
Conclusion
Thus, in 2024, Vietnam expects to continue promoting digital transformation in many different fields, thereby creating development opportunities and promoting economic growth. Hopefully this article has provided you with an overview of the digital transformation situation in Vietnam. Please continue to look forward to exciting new news from NLT Group!