Page 20 - VET350

BUSINESS REPORT

PHOTO: VIET TUAN
Bold approach

Vietnamese digital technology enterprises are undertaking
the mission of actively participating in the country’s industrialization
and modernization through innovating ‘Make in Vietnam’ products.

| By PHUONG ANH

t the recent fifth National Forum trap, realizing the ambition of a powerful the sector. “Developing the digital economy,
on Digital Enterprises Development and prosperous Vietnam. particularly digital applications and trans-
A 2023 (VFTE 2023), with the theme formation across industries, is crucial,”
“Innovating Digital Applications for Eco- BOOSTING ‘MAKE IN VIETNAM’ Minister Hung emphasized. “Digital tech-
nomic Development - Driving Economic TECH PRODUCTS nology enterprises will play a key role in
Growth and Labor Productivity”, Minister According to the Ministry of Information this. Developing digital applications for
of Information and Communications Nguyen and Communications (MoIC), over the industries is also synonymous with inno-
Manh Hung acknowledged the encouraging past four years, the number of digital tech- vating ‘Made in Vietnam’ products. There-
growth of Vietnam’s digital technology nology businesses in Vietnam has increased fore, digital technology enterprises must
industry over the past four years. Since the 30 per cent, while revenue in the digital view this as a research and development
inception of the National Forum in 2019, technology industry has risen 32 per cent activity. They also need to enter into various
the digital technology enterprise community and the proportion of “Made in Vietnam” industries to create digital applications,
in Vietnam has been entrusted with the products in the industry rose from 21 per facilitating digital transformation and eco-
mission of “Make in Vietnam”: researching cent in 2019 to 29 per cent in 2023. Specif- nomic development across sectors. This
in Vietnam, innovating in Vietnam, pro- ically, software production for foreign mar- process aligns with the country’s industri-
ducing in Vietnam, and contributing to kets experienced growth of 43 per cent, alization and modernization.”
lifting Vietnam out of the middle-income with over 1,400 businesses operating in In keeping with digital transformation

30 | VIETNAM ECONOMIC TIMES | JANUARY 2024 en.vneconomy.vn