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Vietnam’s digital economy expected to add 30% to GDP by 2030

/ 11:49 AM April 27, 2020

A customer scans a QR code to make a payment. Photo baotintuc.vn via Viet Nam News/Asia News Network

HANOI — Vietnam wants to raise the digital economy’s contribution to gross domestic product (GDP) to 20 percent by 2025 and 30 percent by 2030.

This is one of the targets set in the draft national strategy on the Fourth Industrial Revolution by 2030.

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According to the strategy compiled by the Ministry of Planning and Investment, Industry 4.0 had caused changes to socio-economic activities, opening up both opportunities and challenges to global economies.

Many countries have already implemented plans and policies to exploit the benefits and overcome the challenges of the Fourth Industrial Revolution to boost economic growth and improve competitiveness.

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The strategy said Industry 4.0 would help the country renew its growth model and restructure the economy as well as create breakthroughs for modernization.

It aims to bring Việt Nam into the top three digital governments in ASEAN by 2030. Meanwhile, 5G network coverage would be available nationwide.

To realize these targets, the strategy maps out six solutions including improving institution quality and policy-making ability; developing connection infrastructure and data exploitation; developing human resources; building e-Government toward digital Government; developing and improving national innovation ability; and investing and developing basic 4.0 technology.

Industry 4.0 was also expected to create 1.3-3.1 million jobs by 2030.

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TAGS: Asia, Business, Digital Economy, economic growth, Finance, GDP, technology, Vietnam
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