The report — Vietnam’s Future Digital Economy — is part of the Australian Government’s Aus4Innovation program, a $10 million strategic initiative designed to strengthen the links between the Australian and Vietnamese innovation systems.
According to the report — launched at the Science, Technology & Innovation as a Pillar for Socio-Economic Development in Vietnam conference in Hanoi — digital technologies such as artificial intelligence, blockchain, the Internet of Things, platforms and cloud-based services have the potential to transform Vietnam into Asia’s next high-performing economy and to bring up the living standards of all of Vietnam’s citizens over the coming decades.
“The Vietnam’s Future Digital Economy report provides a blueprint for Vietnam to plan for the country’s digital future. It is a tremendous example of successful collaboration between our national innovation systems,” Dr Chu Ngoc Anh, Minister of Science and Technology, said.
“It will guide our work over the next three years as we deepen the collaborative linkages between our two countries and help strengthen the Vietnamese innovation system as it adapts to the challenges and opportunities of the digital economy,” he said.
Dr Lucy Cameron, lead author of the report and senior research consultant at CSIRO’s Data61, noted that Vietnam has been one of the world’s fastest growing economies and has already become one of the most dynamic countries in the East Asia region.
“The next wave of digital technologies — Artificial Intelligence, blockchain, the Internet of Things, and platforms and cloud-based services — has the potential to transform Vietnam into Asia’s next high-performing economy. Vietnam will need to seize these substantial opportunities while carefully navigating a number of risks,” Dr Cameron said.
The CSIRO says Data61 has worked with the Ministry of Science and Technology’s team to identify seven megatrends affecting Vietnam’s future digital economy. These include the impact of emerging digital technologies, new export markets for Vietnam, the development of modern digital infrastructure, the push to smart cities, the rise of digital skills and services and changing consumer behaviours.
And megatrends informed the development of four potential future scenarios, which the CSIRO says provide a blueprint for decision-makers to plan for Vietnam’s future digital economy.
“How the future plays out will depend on Vietnam’s position in the regional digital economy, and the level of adaptation to digital products and services across government, the community and industry,” Dr Cameron said.