Internet brings new spaces and new opportunities to Vietnam: Deputy Minister
This was an annual activity held by the Vietnam Internet Association (VIA) under the sponsor of the Ministry of Information and Communications (MIC) to boost Internet development in Vietnam, strengthen cooperation, and share opportunities for the Internet economy.
|An overview of Internet Day 2023 (Photo: VNA).
Deputy Minister of Information and Communications Pham Duc Long said that Vietnam is one of the countries where the percentage of Internet users who shop online for goods weekly is high, at over 60 per cent, higher than the global average of 57.6 per cent. The size of Vietnam's Internet economy in 2022 reached 23 billion USD and is forecast to reach 49 billion USD in 2025. Vietnam's online retail revenue hit 14 billion USD last year and is predicted to increase to 32 billion USD in 2025.
This is a huge opportunity that the internet has been bringing to Vietnam's development, Long said, adding that this development prospect has attracted the attention of many investors from developed countries such as the US, Germany, China, Japan, the Republic of Korea, and Singapore.
According to the official, the current lack of infrastructure will also be an opportunity for Vietnam, because there remains ample room to develop the country's infrastructure.
The MIC is building and soon issuing a strategy/plan for Vietnam's international fiber-optic cable development to ensure the safe and sustainable development of Vietnam's digital infrastructure, added Long.
VIA President Vu Hoang Lien said that despite the trend of job cuts due to the economic recession, many major technology corporations in the world are still pouring capital into Vietnam. This is an opportunity for Vietnamese information technology businesses to open a new growth space and cooperate with technology powers.
At the event, speakers shared issues about a sustainable future for Vietnam's Internet ecosystem, new technologies such as AI virtual assistants, generative AI applications in business activities, cloud computing, and electronic payment services.
On the sidelines of the event, an exhibition was organized to introduce new technologies from domestic and foreign information technology and telecommunications infrastructure enterprises.