ADB partners with Vietnam to boost digital transformation

The Asian Development Bank (ADB) will partner with the Ministry of Information and Communications (MIC) to boost national digital transformation, raising Vietnam's digital economy contribution to 20% of GDP by 2025.

An overview of the signing ceremony between ADB and the Ministry of Industry and Communications. Photo: MIC

The partnership between ADB and the MIC was formalized under a Memorandum of Understanding on the development of digital government, digital economy, and digital society between two sides.

Speaking at the signing ceremony on June 30, Nguyen Huy Dung, Deputy Minister of Information and Communications said ADB is Vietnam’s suitable partner for digital transformation as its strategy focuses on digital transformation, using digital technology as the driving force to implement priorities for the economic growth and sustainable development in Vietnam. 

“These goals and aspirations have fueled the initiative of a joint cooperation plan between the MIC and ADB,” he said.

Dung asked ADB to implement to join in specific cooperation activities, supporting the ministry in researching a legal framework, policies, and solutions for the development of the digital economy, as well as seek resources to support the development of national digital platforms towards the digital government, digital economy and digital society in a comprehensive and inclusive manner.

Andrew Jeffries, ADB's Country Director in Vietnam said that ADB is aware of the importance of digitalization in the sustainable development agenda. In March 2018, ADB established a task force to promote its digital technology knowledge, innovation, and policy agenda. 

“The task force will work closely with the MIC to promote digital government, digital economy, and digital society,” he said.

Jeffries said Vietnam can reach its success through attracting investment in the tech industry, leveraging tech talent and skills, and accelerating productivity growth in this digital transformation process

Under the agreement, ADB will assist four technical activities including research and development of legal frameworks, policies, and solutions to promote the digital economy, finding resources to develop national digital platforms, researching and promoting investment in digital infrastructure projects, towards a comprehensive and sustainable digital society.