University of Economics Ho Chi Minh City Successfully Hosts National Scientific Conference on "Foundations for Digital Economy Development" in Nghe An

05 Feb, 2024

On January 24, 2024, in Vinh City, Nghe An Province, a scientific conference on "Foundations for Digital Economy Development" was held. The event was part of the research plan for the national-level science and technology project titled "Digital Economy Development: Orientations and Policy Solutions," code KX.04.22/21-25, under the National Science and Technology Program on Political Theory Research for the 2021-2025 period. The conference was co-hosted by the University of Economics Ho Chi Minh City (UEH), the Central Theoretical Council, the Nghe An Provincial Party Committee, Vinh University, the School of Economics at Vinh University, and the UEH Institute of Business Research.

An overview of the "Foundations for Digital Economy Development" conference.

Representing UEH were Prof. Dr. Nguyen Dong Phong – Chairman of the University Council; Dr. Dinh Cong Khai – Vice President of the University; Prof. Dr. Vo Xuan Vinh – Dean of the UEH Institute of Business Research; Mr. Le Dong Du, M.A. – Deputy Head of the UEH Office; and Assoc. Prof. Dr. Tran Dang Khoa – Director of the Management Training Program at UEH.

From Vinh University, attendees included Dr. Nguyen Ngoc Hien – Chairman of the University Council; Prof. Dr. Nguyen Huu Bang – Rector of Vinh University; Assoc. Prof. Dr. Nguyen Hoa Du – Vice Chairman of the Vinh University Council; Assoc. Prof. Dr. Nguyen Thi Thu Cuc – Vice Rector of Vinh University; and Assoc. Prof. Dr. Thai Thi Kim Oanh – Dean of the School of Economics at Vinh University.

Distinguished guests included Mr. Le Ngoc Chau – Vice Chairman of the Ha Tinh Provincial People's Committee; Mr. Thai Ba Minh – Deputy Director of the Nghe An Statistics Office; along with representatives from various departments, agencies, and businesses in Nghe An province.

In his opening remarks, Prof. Dr. Nguyen Huy Bang, Rector of Vinh University, stated: "In the context of strong globalization and the Fourth Industrial Revolution, mastering and developing the digital economy has become a decisive factor in the prosperity of every nation. The digital economy is a primary driver of global economic growth. The rapid development of information and communication technology (ICT) has brought about profound changes in how we produce, manage, and distribute goods and services, as well as in how we communicate and interact with one another."

Prof. Dr. Nguyen Huy Bang delivers his opening remarks.

Speaking at the conference, Dr. Dinh Cong Khai, Vice President of UEH, noted: "The digital economy not only opens doors to new opportunities but also poses challenges for nations, businesses, and workers in adapting and innovating. To develop a sustainable digital economy, it is undeniable that proper investment in technological infrastructure, high-quality human resources, and a suitable legal and regulatory framework is essential. A transparent and competitive business environment also plays a crucial role in encouraging innovation and attracting private investment. Through today's scientific conference, we expect the shared and discussed content to establish a scientific foundation for the digital economy, which will serve as a basis for surveying, assessing the current situation, and proposing orientations and solutions for digital economy development in Vietnam."

Dr. Dinh Cong Khai speaks at the conference.

The conference's presiding committee included Prof. Dr. Nguyen Dong Phong, Dr. Dinh Cong Khai, Prof. Dr. Vo Xuan Vinh, and Assoc. Prof. Dr. Nguyen Thi Thu Cuc.

The presiding committee of the conference.

Opening the conference sessions, Prof. Dr. Vo Xuan Vinh introduced the research topic, stating: "The National Strategy for the Development of the Digital Economy and Digital Society to 2025, with an orientation to 2030, approved by the Government on March 31, 2022, outlines three key development perspectives, all of which emphasize the digital economy and digital society. This scientific conference aims to provide the foundational arguments for this digital economy development orientation."

Prof. Dr. Vo Xuan Vinh – Dean of the UEH Institute of Business Research.

The conference focused on establishing a scientific foundation for the digital economy, which will serve as a basis for surveying, assessing the current situation, and proposing orientations and solutions. In his presentation, "An Overview of Digital Economy Development," Assoc. Prof. Dr. Tran Dang Khoa clarified concepts related to resources, processes, structures, and business models, and highlighted the difficulties in collecting data on the added value of the digital economy for statistical purposes.

Assoc. Prof. Dr. Tran Dang Khoa – Director of the Management Training Program at UEH.

In his presentation on "The Digital Economy Development Model in Vietnam," Mr. Nguyen The Lan, M.A., a lecturer at the School of Economics, Vinh University, noted that the digital economy accounts for 39% of GDP in some leading nations. He cited examples such as China's acceleration with 6G, Israel's 6,000 startups, and advancements in cybersecurity, fintech, and health-tech, and proposed several solutions to promote Vietnam's digital economy.

Mr. Nguyen The Lan, M.A. – Lecturer at the School of Economics, Vinh University.

Mr. Nghiem Tien Vinh, Founder/CEO of Gostream, pointed out that "data is the cornerstone of the digital economy, which is characterized by constantly evolving business models, subscription-based online services, cashless transactions, and livestream shopping. He also emphasized the importance of learning to use AI in digital business models for the media industry."

Mr. Nghiem Tien Vinh – Founder/CEO of Gostream.

Mr. Thai Ba Minh, Deputy Director of the Nghe An Statistics Office, reported that the digital economy contributes between 12.66% and 12.88% to the national GDP. For Nghe An, the figure is between 6.66% and 7.4%. In contrast, provinces like Bac Ninh and Bac Giang have digital economies accounting for 45.18% and 34.5% of their GDP, respectively, largely due to contributions from major tech companies like Samsung.

Mr. Thai Ba Minh – Deputy Director of the Nghe An Statistics Office.

Regarding the challenges, Mr. Le Ngoc Chau, Vice Chairman of the Ha Tinh Provincial People's Committee, noted the difficulty in accurately measuring the added value of the digital economy, as current statistical methods are not yet comprehensive. He also raised questions about the feasibility of national targets, such as achieving a 20% digital economy contribution to GDP by 2025, and whether all localities should pursue the same development models, especially in sectors like agriculture where digitalization remains low.

Mr. Le Ngoc Chau – Vice Chairman of the Nghe An Provincial People's Committee.

In his closing remarks, Prof. Dr. Nguyen Dong Phong emphasized: "The development of the digital economy has opened up many opportunities, but it also presents challenges for the Party and Government. There is a need to unify institutional viewpoints, measurement standards for local economies, and address issues of digital infrastructure, cybersecurity, and digital human resources. We need to establish theoretical foundations, practical evidence, and learn from the experiences of countries with developed digital economies."

Prof. Dr. Nguyen Dong Phong delivers his closing remarks.

The conference concluded successfully, providing valuable research insights for the development of the digital economy in Vietnam. The event holds significant and multifaceted importance for the business community, enterprises, and researchers, helping to identify key trends and shape development strategies for both individual businesses and the nation as a whole. The robust foundations established at this conference will support the decision-making process of the Party and Government, contributing to the nation's goal of building a strong and sustainable digital economy in the coming decade.

Other images from the conference: