Vietnam's digital economy will continue to grow rapidly to reach 50 billion USD by 2025. (Photo: vtc.vn)It would be aided mainly by growth in e-commerce, with platforms like Shopeeand Lazada and top retailers like Co.opmart moving their businesses online,said a report of the HCM City People's Committee about e-commerce early thisweek.
The boom in e-commerce has accelerated the country’s digital transformation ofbusinesses in logistics, delivery, tourism, finance, media, and entertainment.
Delivery services have grown rapidly thanks to super apps like Grab and Baemin.
Online payment systems like e-wallets, e-transaction gates and e-banking havealso developed speedily following a surge in online services, with 61 percent of online purchases used cashless payments last year.
But digital transition does face challenges due to underdeveloped digitalinfrastructure, especially the lack of a standardised, synchronised nationaldatabase.
Besides, small and medium-sized enterprises have not capitalised on digitalopportunities despite accounting for a lion’s share of the country’sbusinesses.
The outdated legal framework, with old policies still regulating digitisedbusiness models, also stymies the growth of businesses.
An inadequate regulatory regime poses challenges for authorities and affectscustomers’ benefits.
To tackle these problems, HCM City has laid out a plan for “Developing digitaleconomy, sharing economy, and circular economy” that encourages enterprises toadopt technology and new operational methods to create sustainable goods andservices, its People’s Committee said.
There are also several programmes to help start-ups and enterprises digitisetheir businesses, especially in key sectors like fintech (financialtechnology), edutech (education technology), smart agriculture, and smarttourism./.
VNA
