Forum spotlights business development in digital age
Telecom and Internet providers in Vietnam have recorded 6.1 billion USD in revenue and created more than 851,000 jobs, as heard at a forum on enterprises in digital age held in Hanoi on May 17.
Scene at the event (Photo: VNA)
Hanoi (VNA) – Telecom and Internetproviders in Vietnam have recorded 6.1 billion USD in revenue and created morethan 851,000 jobs, as heard at a forum on enterprises in digital age held in Hanoion May 17.
The forum took place in conjunction withthe announcement of the Vietnam Chamber of Commerce and Industry (VCCI)’sannual report on Vietnam business for 2017/2018.
As heard at the forum, IT and telecomsector’s production value contributed over 0.7 percent to the nation’s GDP onaverage. In 2016, the number of IT/telecom businesses surpassed 11,000,accounting for 2.2 percent of Vietnam’s total figure.
Apart from the application of advancedtechnologies in traditional sectors, the digital age has given birth to anumber of non-traditional business models in Vietnam, like online car hailingand financial technology (fintech) services.
Expert said fast changes of these newmodels have sometimes left legal regulations behind, thus causing difficultiesfor their providers and benefit conflicts between them and their traditionalpeers.
VCCI Chairman Vu Tien Loc said last year,the Prime Minister issued Decree 16 on capacity building for the 4.0 industrialrevolution.
He said the decree put forth key measureson IT infrastructure development, and prioritised the building of digitalindustry, smart agriculture, and smart cities.
He noted companies ought to design their relevantaction plans and join the public sector’s efforts in building strategies forsmart governance and innovation.
Loc also acknowledged achievement of thebusiness sector last year, with the establishment of 126,859 new firms, thehighest number recorded to date.
Pham Thi Thu Hang, head of the VietnamBusiness Insight Survey – a VCCI initiative, said the year saw improvements inthe private sector, but the trend of smaller-scale firms persisted and the rateof performance failure among small scale businesses remained high.-VNA
VNA
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Scene at the event (Photo: VNA)