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Deputy PM: Digital economy a leading factor in growth

Released at: 11:42, 19/10/2017

Deputy PM: Digital economy a leading factor in growth

Photo: Hai Van

Deputy Prime Minister Vu Duc Dam makes comment at Vietnam ICT Investment Forum 2017.

The digital economy is one of the leading factors in Vietnam’s growth and development, Deputy Prime Minister Vu Duc Dam told the Vietnam ICT Investment Forum 2017 (VIF 2017), held by the Ministry of Information and Communications, the Ministry of Planning and Investment, and related organizations on October 18.

It’s also becoming increasingly important in the global economy, he added, not only in Vietnam, as the foundation for increasing productivity in industries as well as in creating innovative opportunities.

“In the process of attracting investment, Vietnam has become a destination for foreign IT investors,” he noted. In order to continue to attract foreign investors in the digital economy and during the fourth industrial revolution (Industry 4.0), a review and updating of policies to attract investment should become an important focus.

He also noted that in the current digital economy, data is one of the most important resources. Governments and industries are doing a lot of work to collect data, creating a common resource for all to explore and seek opportunities. The human factor, however, remains key.

The aim of the conference was to consult on investment attraction policies in the information and communications sector, create a favorable business environment, and promote sustainable development in the process of transforming the digital economy.

It also sought to attract more foreign investment to Vietnam and connect foreign investors with Vietnamese enterprises operating in the field of information and communications technology, especially e-commerce, smart cities, the Internet of Things (IoT), and startups.

The conference had three main activities: the Forum, an ICT Exhibition, and Business Networking. The Forum was a direct channel for dialogue between State management agencies and ICT enterprises and associations and was divided into two sessions: ICT Policies to Attract Investment in the Digital Economy, and Digital Marketing: Challenges and Opportunities.

The ICT Exhibition was held in parallel with the forum, including booths from leading multinational corporations and ICT enterprises in Vietnam, as well as services in the fields of economics, smart cities, IoT, telecommunications and internet infrastructure solutions, e-commerce, and startups. There were also booths from localities such as Hanoi and northern Thanh Hoa province to introduce local ICT applications.

Over 500 were in attendance, including representatives from ministries, sectors, IT enterprises, embassies, and international organizations. The Business Networking event saw the involvement of 50 domestic and foreign enterprises and aimed at connecting investors, businesses, and localities, and discussing solutions, technology, investment models, and finance.

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