Why businesses are experiencing a digital transformation

An overview of the meeting (Photo: VNA) The meeting was held in an online format linking the Government Office with People’s Committees of provinces and centrally-run cities across the country. PM Chinh, who heads the committee, reiterated that digital transformation is an inevitable trend, an objective requirement and a must-do task in national development. He noted that during the complicated developments of the Covid-19 pandemic, digital transformation has become an urgent need in order to effectively prevent and control and pandemic while maintaining and promoting socio-economic development. The government leader affirmed that digital transformation is a big policy of the Party and State, which must be implemented regularly and continuously in a fast and effective manner. During the meeting, a report on digital transformation index rankings for ministries and provinces in 2021 will be released. Vietnamplus … [Read more...] about PM chairs third session of national committee on digital transformation

Deputy Defense Minister Senior Lieutenant General Vo Minh Luong chaired the meeting. Over the past time, under the leadership of the Party, the management of State, and the direction of the Government, the military has become a pioneering force in obeying the law, mobilizing the people to follow the Party’s guideline and the State’s  policies, and fighting against wrongful viewpoints of hostile forces. The military’s role has been displayed clearly in the law dissemination and education at the grassroots level, contributing to developing the socio-economy and maintaining political security and social safety. After the project was approved by the Prime Minister, the Central Military Commission and the Ministry of National Defense have directed affiliated units to build and implement the plans. Up to now, 100 percent of units have established steering panels for the implementation of the project while conducting numerous measures to mobilize the people to obey the law. Notably, the … [Read more...] about Defense ministry to enhance digital transformation in law dissemination and education

Participants at the program called People Ask - Government Answers The Deputy Director made the state at a program called People Ask - Government Answers with the topic ‘Reform of administrative procedures in the field of administrative law in the field of administrative law" land and construction sector’ organized by the People's Council in Ho Chi Minh City in collaboration with the Television Station and the Department of Information and Communications with the participation of Nguyen Thi Le, Chairwoman of the municipal People's Council. During the program, voters posed many problems for delegates and guests. Specifically, voter Tran Viet Trung in Thu Duc City said that people who go to administrative procedures for land are looking forward to knowing how their dossiers have been handled. In fact, some state agencies make an appointment to return the land records but they didn’t write a detailed date. Meanwhile, voter Nguyen Dinh Tue from the HCMC Union of Business … [Read more...] about HCMC to digitize land records to create shared data for all districts

The Korea and Vietnam Economic and Cultural Association (KOVECA) and the Association for Liaison with Overseas Vietnamese, along with ministries and localities, last week jointly held two Vietnam-Korea cooperation forums in both the northern and southern regions with the participation of 30 associations and 50 enterprises from South Korea. PM Pham Minh Chinh greets representatives of the RoK's associations and businesses at the dialogue in Hanoi on July 30. (Photo: VNA) The associations and enterprises are looking for investment opportunities in terms of urban and transport infrastructure, hospitals, renewable energy, high-tech, and career training. Previously, in the framework of a conference connecting the northern province of Thai Binh and South Korea in early July by Thai Binh People’s Committee, coordinated with the Ministry of Foreign Affairs and the Korean Embassy to Vietnam, an investment registration certificate was granted to South Korea’s SMT Company for the … [Read more...] about South Korean investors lavish attention on Vietnam

For one, the oil and gas industry is under immense pressure to improve operational efficiency, productivity, and worker safety; maintain cybersecurity; and, simultaneously, reduce environmental impact. In order to solve these challenges, oil and gas companies are accelerating their digital transformation. Denis Brunetti, President, Vietnam and Myanmar Ericsson As they adopt use cases around automation, smart safety and environmental monitoring, the oil and gas industry is increasingly looking to advanced cellular connectivity to help drive efficiencies, while being more environmentally sound. The industry is expected to meet the global goal of net-zero carbon by 2050. According to a McKinsey study, the use of advanced connectivity to optimise drilling and production throughput and improvements in maintenance and field operations could add up to $250 billion of value for oil and gas upstream operations by 2030. Digitalisation enabled by cellular connectivity can … [Read more...] about 4G/5G wireless networks driving digitalisation across industries

Although all the micro-economic and macro-economic advantages are available, it seems that there is no key catalyst for trending towards a new growth level at the stock market. Profits vary Initial statistics show that around 600 corporations have made public their financial statements in the second quarter of 2022. The number could be a bit higher if all the estimated figures were actively made public. Figures will continually be updated over the next few days, but the sales and profits of listed corporations will rise positively. For instance, as estimated by Vndirect Securities Corporation, considering 590 corporations listed by 26 July the total sales and profits in the second quarter increased by 25.3% and 17.9% respectively, over the same period last year. Stocks with high capitalization of more than VND 10,000 bln have recorded an average of 34.3% increase in sales and 24.9% in net profits. It is certainly normal for the stock trading market to have dark and bright … [Read more...] about Stock market showing no indication of growth

Until now, only seven out of 111 planning documents have been approved, including those on national land use and only 4 national industry planning pieces in the transportation field. It is obviously illogical since land is a valuable national resource and should be allocated to best promote the national competitiveness as well as the regional geographic advantages after identifying specific regional industry planning. He took the planning of Lien Chieu Port in Da Nang City as an illustration. It is too hard to transform this port into an international-scaled one no matter how much the local authorities wish for it to come true. Meanwhile, Chan May Port on the other side of Hai Van Pass is a more suitable place for this purpose. Considering the regional competitive advantage, it would be much better to invest in turning the latter port into an international one and building a railway to connect it to neighboring areas. As to the vision until 2050 of the newly released national … [Read more...] about National master planning needs changes in development thinking for breakthrough

As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market

Visa last week announced the launch of Eco Benefits in Asia-Pacific. It is a suite of sustainability-focused solutions that will help Visa cardholders across the region better understand the environmental impact of their day-to-day payments. Over half of Vietnamese consumers now regularly shop online and expect to be able to pay by card Banks that sign up for Eco Benefits will be able to offer these solutions to their Visa cardholders and meet the growing demand for sustainable financial services. According to a new Visa/YouGov survey, 66 per cent of consumers in Asia-Pacific expect their bank to offer eco-friendly payment solutions. Over half (52 per cent) would switch banks in order to access a product or service that helps them understand the carbon footprint of their spending. In Vietnam, Eco Benefits aligns with the National Green Growth Strategy for 2011-2030 by promoting greener lifestyles and sustainable production. The new product is also in line with the … [Read more...] about ECO-FRIENDLY payment initiative launched by Visa

Seizing the opportunity laid out by its clean energy resources and phasing out coal could be key for Vietnam’s green growth path. Vietnam’s Prime Minister Pham Minh Chinh has set a deadline for sectors to build plans for their sustainable development within the first quarter (Q1) of this year as part of efforts to materialize the country’s sustainable development. Vietnam’s Prime Minister Pham Minh Chinh speaks at COP26 in Glasgow, the UK in November 2021. Photo: VNA The PM demanded in Q2 a comprehensive program to implement Vietnam’s net-zero target that he pledged at the 2021 United Nations Climate Change Conference in Glasgow (COP26) in November 2021. Accordingly, authorized agencies are tasked with eight issues, namely energy transition, reducing greenhouse gas emissions; lowering methane emissions; developing electric cars; planting forests to absorb carbon dioxide; building construction materials and urban development suitable for green and sustainable … [Read more...] about [Net-zero strategy] Which way is possible for Vietnam’s net zero journey?