Business
Vietnam strives to become stable and prosperous digital country
The Ministry of Information and Communications has placed on consultation a governmental draft decision on the development of information technology, electronics – telecommunications industries in Vietnam.
Striving to turn Vietnam into a stable and prosperous digital country is the goal of a prime ministerial draft decision that is intended to approve the Program on the development of information technology and electronics – telecommunications industries to 2025, with a vision to 2030, towards the Fourth Industrial Revolution (Industry 4.0).
The goal of the program for 2025 is to make Vietnam’s information technology (IT), electronics – telecommunications (ET) industries one of the large economic sectors that will achieve fast and sustainable growth. The industries will be based on new achievements of the Industry 4.0 that motivate the implementation of strategic breakthroughs and modernize the country, strongly develop the digital economy, transform the digital socio-economic activities, and make Vietnam a stable and prosperous digital country.
The program sets the target of achieving the annual turnover growth in the IT and ET industries twice the growth of national GDP.
Under the program, Vietnam will have around 50,000 IT and ET companies, of which 10 large companies will play a leading role and are internationally competitive with revenues of at least US$1 billion. The program also aims to have 10 provinces/cities generating an average IT and ET turnover of more than US$1 billion each.
To attain those goals, the draft defines the main tasks such as building infrastructure and developing key IT products; investing in technical infrastructure and technology incubators to support startups.
Another task is to build Vietnam into a safe destination for foreign-invested enterprises in the field of digital technology; support market expansion through the implementation of the national digital transformation program, smart city program, e-government development program, among others.
The draft also emphasized on improving the quality of human resources and promoting the connection between businesses and training schools.
Other measures include working out and submit to the National Assembly the Law on Digital Technology governing activities of digital technology, IT, and ET in the Industry 4.0; digital technology industrial park; digital technology innovation center; digital technology products, protection of intellectual property in the digital environment; healthy competition between domestic and foreign companies that do business on the digital platform.
The draft also mentioned the completion of the legal framework to build an ecosystem of digital centers of specialized fields.
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The program sets the target of achieving the annual turnover growth in the IT and ET industries twice the growth of national GDP.
Under the program, Vietnam will have around 50,000 IT and ET companies, of which 10 large companies will play a leading role and are internationally competitive with revenues of at least US$1 billion. The program also aims to have 10 provinces/cities generating an average IT and ET turnover of more than US$1 billion each.
To attain those goals, the draft defines the main tasks such as building infrastructure and developing key IT products; investing in technical infrastructure and technology incubators to support startups.
Another task is to build Vietnam into a safe destination for foreign-invested enterprises in the field of digital technology; support market expansion through the implementation of the national digital transformation program, smart city program, e-government development program, among others.
The draft also emphasized on improving the quality of human resources and promoting the connection between businesses and training schools.
Other measures include working out and submit to the National Assembly the Law on Digital Technology governing activities of digital technology, IT, and ET in the Industry 4.0; digital technology industrial park; digital technology innovation center; digital technology products, protection of intellectual property in the digital environment; healthy competition between domestic and foreign companies that do business on the digital platform.
The draft also mentioned the completion of the legal framework to build an ecosystem of digital centers of specialized fields.
