Vietnam holds potential in virtual digital economy: Deputy Minister

ABO/NDO- Vietnam has potential to become a centre of the virtual digital economy in the region and the world, said Deputy Minister of Information and Communications Phan Tam at a conference on November 7.

During the conference on the virtual convergence economy within the framework of the Vietnam-Korea Digital Forum, Tam shared that the convergence between virtual and physical worlds has driven extensive changes in all aspects of socio-economic life.

He stated that the virtual digital economy has opened a boundless digital world where all economic, social and cultural activities can take place without being hindered by space and time.

Deputy Minister of Information and Communications Phan Tam speaks at the conference.

In Vietnam the digital economy is growing strongly, accounting for 14.26% of GDP in 2022, and is expected to reach 25% by 2025. Vietnam is rated as one of the fastest-growing digital economies in Southeast Asia.

According to Deputy Minister Phan Tam, Vietnam is well-positioned to become a centre of the virtual digital economy in the region and the world thanks to a tech-savvy young population and the strong growth of its technology companies.

He added that to translate such potential into reality, the Vietnamese government has been introducing various measures to promote the rapid and sustainable development of the digital economy.

The country is also investing in human resources training with the aim to create a workforce that can adapt to a dynamic and challenging virtual digital environment.

Tam expressed his belief that cooperation between Vietnam and the Republic of Korea will help build a strong and sustainable virtual convergence economy.

(Source: NDO)