Businesses speed up digital transformation

(VOVWORLD) - E-commerce is becoming an important factor for business’s success. It’s high time for Vietnam to adopt a detailed program to improve businesses and realize the national digital transformation targets.
Businesses speed up digital transformation - ảnh 1

Reports by Google, Temasek, and Bain & Company say that Vietnam’s e-commerce market ranked third in Southeast Asia last year with 7 billion USD, behind Indonesia (32 billion USD) and Thailand (9 billion USD). Google forecasts that Vietnam’s e-commerce will reach the highest growth rate in the region of 34% by 2025.

If small businesses don’t quickly apply digital technology, export and import will remain a playground of large corporations, while most Vietnamese businesses are small and medium sized.

At present a number of Vietnamese businesses, particularly SMEs, are not interested in digital transformation or confused by it. The main reason is Vietnamese SMEs have few opportunities to access digital technology and lack knowledge for digital-based business, understanding of customers’ habits, database, and business strategy.

Do Hoang Hai, Director of Wincom Technology Company, said a lot of businesses are unable to identify their digital transformation targets and don’t know where to start.                    

“Digital transformation has been taking place rapidly in Singapore, Malaysia, and Thailand. The governments of these countries have compiled detailed programs to help businesses access markets and offer financial support. Businesses should have a clear development strategy, not just a slogan,” Hai said.

Businesses speed up digital transformation - ảnh 2Nguyen Ngoc Dung, Vice President of the Vietnam E-Commerce Association (Photo:

Nguyen Ngoc Dung, Vice President of the Vietnam E-Commerce Association, said digital transformation is inevitable.

“E-commerce has expanded. Business has to adapt to online shopping and interaction using mobile devices or smart phones. Businesses can market their products on websites and change the whole performance to a digital eco-system, which include logistics, online export and import procedures, and delivery,” Dung said. 

Nguyen Kim Hung, acting director of the Vietnam Institute of Business Administration and Digital Economy, said businesses need policies and financial support for digital transformation.

“There has been no discussion on resources for businesses. Banks don’t give loans to technology companies because they are not sure about the company’s products. Banks also do not give loans to ordinary companies to invest in technology. Who will provide resources to them? It’s necessary to revise the government’s decree to enable businesses to access a fund for technology investment.”

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