Opportunities and challenges in digital transformation in Vietnam

To implement digital transformation, Vietnam also needs to evaluate the strengths, weaknesses, opportunities and challenges in Vietnam.

Today’s world is developing at an unprecedented digital speed. During the first two decades of the 21st century, the number of people connected to the Internet around the world increased from 350 million to more than 4 billion. During that same period, the number of mobile phone users increased from 750 million to over 5 billion. Along with the trend of everything being connected to the network, more than 90% of humanity’s data was created within the last 2 years. The speed of digitalization and technological innovation opens up new prospects, new business models, and creates new value.

About strengths:

– Correct and timely awareness and policies of the Party and Government on the fourth industrial revolution and digital transformation;

– The will and aspirations of the Vietnamese political system, businesses, and people to build a strong Vietnam;

– No pressure and major losses due to having to convert old models and old technology;

– Information technology (IT) infrastructure and technology usage rate are growing very rapidly;

– Human resources are young, smart, eager to learn, creative, adaptable and have the desire to get rich;

– Good conditions in terms of stable political position, population, geography, climate, and resources.

About weaknesses:

– Vietnam is still a developing country with a low average income, so investment resources are limited;

– Institutions, legal frameworks, and policies to promote economic and business development have not met their role as facilitators of digital economic development;

– Investment in research, technological innovation, and creativity is not high;

– Training high-quality human resources, especially information and communications technology (ICT) human resources, has not met the demand;

– The rate of businesses and people understanding and using ICT is still low.

About the opportunity:

– Digital Government helps the Government operate more effectively, efficiently, transparently, and reduce corruption;

– Digital economy promotes innovation, creates new value, helps increase labor productivity, creates new growth drivers, and escapes the middle income trap;

– Digital society helps people have equal opportunities to access services, training, and knowledge, narrow the development gap, and reduce inequality. Industries and fields are optimized and intelligentized to improve people’s experience and quality of life.

About the challenge:

– New unprecedented relationships arise, traditional relationships may be interrupted or terminated, organizations and businesses may go bankrupt or be replaced;

– There is a shortage of human resources for digital transformation, from managers to experts, engineers, and digital technology workers. People do not have enough necessary digital skills. Risk of losing jobs when workers do not receive timely retraining or advanced training to keep up with new skill requirements;

– Safety, network security, data, personal data, and personal privacy of people in cyberspace are threatened.

Thus, digital transformation opens up unprecedented opportunities for Vietnam. This is a comprehensive change, for every business, every organization, every person, every field, a historic shift. If Vietnam wants to change its world rankings, it must move quickly and take the lead to have a competitive advantage.

Digital transformation does not need many facilities, but what is needed is a change in thinking, to move quickly and take the lead, create a competitive advantage, attract resources, and mobilize the strength of the entire population in implementing digital transformation. , changing the ranking of countries in the world.

Vina Aspire is a consulting company, providing IT solutions and services, network security, information security & safety in Vietnam. Vina Aspire’s team includes skilled, qualified, experienced and reputable experts and collaborators, along with major domestic and foreign investors and partners to join hands in building.

Businesses and organizations wishing to contact Vina Aspire Company with the following information:

Email: info@vina-aspire.com | Website: www.vina-aspire.com
Tel: +84 944 004 666 | Fax: +84 28 3535 0668

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