Gov't issues action plan on digital economy development for 2024-202

Standing Deputy Prime Minister Truong Hoa Binh has signed a decision issuing an action plan on digital economy development for 2024-2025. 

The move aims to realize the National Strategy for digital economy and digital society development through 2025, with an orientation towards 2030.

The plans highlights the importance of developing information and communication technology industry as a foundation to promote digital economy.

The Government targets to promote the readiness, integration and sharing of high-quality databases; stimulate digital platform based consumption and digital governance at central and local levels.

Under the National Strategy approved in 2022, the Government targets to raise the share of digital economy to GDP to 20 percent and its proportion in each industry to at least 10 percent by 2025.

The proportion of e-commerce in total retail sales is expected to reach over 10 per cent, the rate of enterprises using e-contracts over 80 per cent, the rate of small and medium-sized enterprises (SMEs) using digital platforms over 50 per cent, and the percentage of digital economy workers over 2 per cent of the workforce.

Viet Nam's digital economy is projected to post a compound annual growth rate (CAGR) of 16 percent, reaching US$36 billion in 2024, with e-commerce and online travel as the primary growth drivers, according to the 9th edition of the e-Conomy SEA report "Profits on the Rise, Harnessing SEA's Advantage" released by Google, Temasek, and Bain & Company.