14TH NATIONAL CONGRESS OF THE COMMUNIST PARTY OF VIETNAM

E-solutions help MSMEs speed up digital transformation

Phi Khanh

Mar 31, 2021 / 09:01 PM

The new products will solve problems of four main business areas for enterprises.

NextPay.vn, a Vietnamese fintech firm owned by NextTech Group, launched the Next360.vn digital transformation ecosystem serving one million micro-small and medium enterprises (MSMEs), with the aim of contributing an additional US$15 billion to national total GDP in the next five years.

Delegates attend the ceremony on March 31 in Hanoi. Photo: NextPay

With roughly VND560,000 (US$24.2) per month, the MSMEs will be able to use a set of 20 products for digital transformation. The products will solve the problems of four main business areas such as corporate governance, sales, payments, sourcing, and capital.

Covid-19 is the driving force for the progress of digital transformation. However, the MSMEs and SMEs, accounting for 96.7% of total enterprises in Vietnam, have not yet approached digital transformation due to lack of experience and solution providers’ interest.

According to a recent survey conducted by NextTech, companies providing digital transformation solutions often focus on the government sector and large enterprises with high budget.

Meanwhile, MSMEs have many limitations about the solvency and investment in digital transformation. “Next360 ecosystem is a solution for the issues,” Nguyen Huu Tuat, CEO of NextPay told the opening of the ceremony on March 31 on Hanoi.

NextPay continuously invests in joint ventures to help small startups access a network of hundreds of thousands of SMEs nationwide in its parent’s ecosystem.

The fintech firm plans to invest millions of dollars in sales management software PosApp, customer service startup MySpa and electronic invoice service provider MegaBiz.

At the event, NextTech announced the launch of Next Academy with the goal of vocational training for consultants and implementing digital transformation.

Investment funds to pour US$815 million in Vietnam startups in 5 years

25 Nov, 22:48

Through Startup-Pitching and Business-Matching, potential startups will have the opportunity to present their ideas to more than 100 investment funds.

Vietnam to tax crypto asset transfers at 0.1%

This approach mirrors the current tax calculation applied to securities transactions.

05 Feb, 04:53 PM

Hanoi craft exhibition showcases Tet goods as shopping demand rises

Featuring 100 booths, the exhibition brings together artisans and businesses from Hanoi and neighboring provinces, presenting handicrafts, gifts, decorations and specialty foods, while promoting craft villages and stimulating consumption ahead of the 2026 New Year.

05 Feb, 01:14 PM

Vietnam establishes support body for International Financial Center Council

Beyond internal coordination, the support body undertakes international cooperation, information and communication activities.

05 Feb, 01:04 PM

Hanoi draws US$102 million in foreign direct investment during January

Strong investor activity continued in the capital at the start of the year, as a mix of new projects, capital adjustments and share acquisitions helped reinforce Hanoi’s role in sustaining Vietnam’s positive foreign investment trend.

04 Feb, 10:22 PM

Vietnam pushes rural e-commerce expansion to narrow digital divide nationwide

As Vietnam’s e-commerce market accelerates, attention is shifting toward how national policies and platform-led initiatives can help smaller localities overcome structural barriers, bringing digital trade opportunities to mountainous, border and rural communities.

04 Feb, 09:22 PM