The digital economy: Vietnam has many advantages

16/08/2019 10:48

Within the framework of Young Scholar Initiative Asia Convening 2019, the Roundtable "Vietnam and the digital economy" took place in the morning of August 14th, chaired by the VNU University of Economics and Business.

Attending the roundtable, there was Professor Andrew Sheng - Senior Member at the Fung International Research Institute (FGI) in Hong Kong, Mr. Nguyen Duc Vinh - General Director of Vietnam Prosperity Joint Stock Commercial Bank (VPB); Mr. Nguyen The Trung - Chairman of DTT Technology Group; Dr. Vo Tri Thanh - Economist, Former Deputy Director of Central Institute for Economic Management. From the UEB, there are Rector Assoc.Prof.Dr. Nguyen Truc Le; Assoc.Prof.Dr. Nguyen Anh Thu – Vice Rector; Assoc.Prof. Nguyen Duc Thanh - Director of the Vietnam Institute for Economic and Policy Research. There are also many young scholars from 38 countries around the world and UEB’s lecturers and students.

6 scholars attending the Roundtable "Vietnam and digital economy"

The Roundtable focused on issues regarding the trend of digital transformation in the global scope, the future of Vietnam's digital economy, the impact of the trend of digital transformation to the development of sectors in Vietnam and implications for government and businesses in the context of the 4.0 Industrial Revolution.

Professor Andrew Sheng spoke at the Roundtable

Professor Andrew Sheng said that Vietnam is a dynamic country, with an abundant and qualified workforce, becoming a leading country in Asia when participating in the digital economy. Along with strong development of information technology in recent years, Vietnam is still facing many challenges. He believed that Vietnam needs to have more appropriate development strategies.

Assoc.Prof.Nguyen Duc Thanh spoke at the Roundtable

Assoc.Prof.Dr. Nguyen Duc Thanh said that Vietnam's economy is on a small scale, while the US and China have developed on a large scale. He also said that in recent years, the Vietnamese digital economy has developed quite quickly, due to the good infrastructure of telecommunications and information technology, with high user density

Assoc.Prof.Nguyen Anh Thu spoke at the Roundtable

Assoc.Prof.Dr. Nguyen Duc Thanh and Assoc.Prof.Dr. Nguyen Anh Thu agreed that the young Vietnamese population will have access to more information and therefore, a motivation for the government to come up with better management measures. Young generation with consumer demand groups favoring technology products and mobile devices will be a large customer group for the digital technology era.

Mr. Pham The Trung spoke at the Roundtable

Mr. Nguyen The Trung said that Vietnam in the next 20 years will transform itself into a digital economy and escape the middle-income trap. National leadership policies, institutions and policies need to train skilled workers, a key factor for the transition and success of the digital age.

Paticipants raise questions to the speakers

Ms. Naomi Klein exchanges with young scholars via Skype

At the end of the discussion, participants agreed that Vietnam has many advantages to develop a digital economy, but it must avoid massive development that difficult to manage, which needs a rigid governing mechanism.

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Thuy Trang - Thanh Tu