Vietnam's Digital Economy Goals and Key Obstacles
While aiming to grow its digital economy and rank high in the region, Vietnam is planning reforms to overcome obstacles in financing and infrastructure.
While setting ambitious digital economy goals for 2030 and 2045, Vietnam is encountering various bottlenecks in areas such as institutions, infrastructure, and financing during this process.
Target Growth Rates in the Digital Economy
One of the targets specified in Resolution No. 57-NQ/TW on breakthroughs in national science, technology, innovation, and digital transformation is that the size of Vietnam's digital economy should reach at least 30% of GDP by 2030.
Additionally, within the scope of these targets, the share of the digital economy is planned to reach at least 50% of GDP by 2045.
Current Economic Situation and Regional Position
According to data from the General Statistics Office of the Ministry of Finance, the value-added generated by the digital economy in Vietnam's GDP is projected to reach 14.02% in 2025, equating to approximately 72.1 billion US dollars.
This resulting rate has successfully propelled the country's digital economy to second place in Southeast Asia.
Bottlenecks Encountered and the Status of SMEs
The development of the digital economy still faces numerous bottlenecks in terms of institutions, data, infrastructure, capital, and human resources.
Small and medium-sized enterprises, which make up approximately 98% of the businesses in the country, experience serious difficulties in accessing credit and generating resources.
Legal Framework and Search for Solutions
Technology adaptation, fragmented data structures, and a lack of institutional infrastructure are among the primary issues that need to be resolved.
It is requested that the legal framework be improved, space be made for innovation, and controlled testing mechanisms be expanded for new areas such as artificial intelligence and blockchain.