Digital economy - the future for VN development

A digital economy is an inevitable step for development as the traditional economy is being saturated, said Nguyen Thanh Hung, Deputy Minister of Information and Communications at the 2016 Internet Day event in Hanoi.

 

The Vietnam Internet Association on December 21 organised the event under the theme “How digital content contributes to an Internet economy?”

“Many countries have defined the digital economy as a new developmental driving force for their socio-economic growth and development, as well as enhancing the national competitive capacity on a global scale,” Hung said.

 

In recent years, the digital content industry in Vietnam has seen remarkable development, playing a more important role in the country’s IT sector.

 

The industry’s revenue increased from 480 million USD to 1.4 billion USD in the 2008-2014 period with a yearly growth rate of about 20 percent. It attracted more than 4,500 enterprises, creating 70,000 jobs.

Until now, Vietnam has built a diverse digital content industry, including online products for education, entertainment and content for mobile devices, Hung said.

 

With advantages such as young human resources, competitive labour costs, a sharp increase in smart phones and 3G subscriptions and a developing Internet infrastructure, Vietnam is evaluated as one of the potential markets of the digital industry, said Hung.

 

Internet Day is an annual event initiated by the Vietnam Internet Association. It is an occasion for enterprises operating in the Internet field, association members, domestic and international technology companies, government representatives and state management agencies to meet, exchange and share experience to develop the Internet, and accelerate application, content and technology services.

 

(Source: VNA)