The report “Việt Nam’s Future Digital Economy towards 2030 and 2045” provides economic modelling for potential growth scenarios. Photo courtesy of CSIRO HCM CITY — Risks and challenges must be identified during the digital transformation era to ensure that Việt Nam continues to grow and be prosperous, a new report has said. The report, “Việt Nam’s Future Digital Economy Towards 2030 and 2045”, notes that much has already been done through the Government’s policies on 4.0 Industry such as cybersecurity, energy and digital skills. The report was issued by Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) and Việt Nam’s Ministry of Science and Technology. Dr Lucy Cameron, lead author of the report, said that Việt Nam, as one of the world’s … [Read more...] about Australia, VN issue new report on digital transformation roadmap
Forrester digital transformation 2018
Vietnamese firms urged to embrace digital transformation
A panel discussion at a seminar on digital transformation held in HCM City on Friday. — VNS Photo Vietnamese firms should embrace digital transformation to stay afloat in the Industry 4.0 era, delegates said at a seminar in HCM City on Friday. Digital transformation is the application of digital technologies to change business models and create new business opportunities, and to increase revenue and value. It can also change operation and leadership methods, working processes and corporate culture. Ho Tu Bao, scientific director at the John von Neumann Institute of the Viet Nam National University of HCM City, said that firms that do not transform their business models to suit the digital era would lag behind. In contrast, those taking initial steps to capitalise on the trend would gain a competitive advantage. “Digital transformation is inevitable. When we cannot avoid it, it is important to understand it and map out suitable business plans,” he added. Digital … [Read more...] about Vietnamese firms urged to embrace digital transformation
Vietnam on the verge of digital transformation
Key survival issue Currently, digital transformation is taking place worldwide. According to a recent survey by International Data Group, nearly 90% of businesses have started their conversion with different steps, from research to implementation. More than 30% of business leaders surveyed considered digital transformation a vital issue, confirming the immediate effectiveness brought about by digital transformation in many aspects: superiority in customer understanding, increased productivity, ensuring competitive prices and speeding up creativity. If enterprises and organisations are slow in shifting, it will lead to consequences such as inferior labour productivity, decision-making delays, a lack of sensitivity to seize opportunities and not being closely associated with customers. In fact, there are large enterprises with a development history of hundreds of years but have not caught up with "digitalisation", or have the desire to transform but have not succeeded, have lagged … [Read more...] about Vietnam on the verge of digital transformation
Digital transformation delivers breakthrough chances to VN
The experts comment that thanks to the digitalization process, along with the impressive growth of technological advancements, all regular activities of human beings, especially commercial ones, are gradually changing. There exist a group of businesses which operate basing on real-time data, making them the leader thanks to their remarkable performance and outstanding quality. They can better serve customers, and thus increasing their own revenues while minimizing overhead costs. In fact, the digitalization process has brought precious values like profit growth, cost saving, real-time operation of complicated data systems, large-scale customization of devices. Therefore ‘digital transformation’ has been ranked in the top three prioritized issues of any business in this era. According to Mr. Truong Gia Binh, President of FPT Group, since 8 years ago, FPT has continuously received invitations from major international corporations because they are able to master cutting edge … [Read more...] about Digital transformation delivers breakthrough chances to VN
Vietnamese enterprises to boost digital transformation
Viet Nam News HÀ NỘI — Increasing profit a few hundred per cent, saving billions of dollars in technology costs, operating complex data systems in real time, transforming appropriate business models, improving operational efficiency and personalising customer experience on large-scale digital platforms at fast speed were the benefits of digital transformation, said Dr. Phương Trầm, FPT head consultant on digital transformation and former DuPont CIO at a seminar in Hà Nội this week. Digital transformation in organisations and businesses is the process of changing from traditional models to digital enterprises by applying new technologies such as Big Data, the Internet of Things (IoT) and cloud computing. It also changes operation and leadership methods, working processes and corporate culture. Digital transformation brings many benefits such as cutting operating costs, reaching more customers in a shorter time, quicker and more accurate … [Read more...] about Vietnamese enterprises to boost digital transformation