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Digital economy to make up 25% of HCM City's GDP by 2025

Thanh Truc Monday | 09/12/2022 15:52

Experts believe Vietnam is the fastest-growing digital economy in the Asia Pacific (APAC).

By 2025, the local government expects that Ho Chi Minh City's digital economy would contribute 25% of the southern hub's GRDP.

The Standing Board of the local Party Committee issued a directive outlining the objective. It intends to accelerate digital transformation and create a smart city in HCMC.

The government will prioritize educating the public about digital transformation, planning the implementation of tasks related to digital transformation, and completing the digital government. In order to assist modern-oriented governance and the socioeconomic recovery and development following COVID-19, authorities will seek to integrate and effectively exploit data.

Thu Duc city, part of the HCMC municipality, will prioritize resources for digital transformation, helping to a highly interactive innovation city to the east of the southern hub. Businesses, particularly those engaged in the information, communication, and science and technology sectors, will be urged to actively invest in and participate in the process of digital transformation as well as offering crucial digital services.

The GRDP of the city in 2021 was about $8.3 billion USD, or 14.41% of the total, according to the HCMC Institute for Development Studies (HIDS). In 2022, 15% is predicted to be the rate.

HIDS aimed to establish HCMC as a financial technology hub, create a support and consultation center for digital transformation, and create testing policies (sandbox) on digital transformation (DXCentre).

Nguyen Gia Phong, the deputy director of the HCMC Department of Information and Communication, emphasized that young people will be necessary to the nation's digital transformation. Each individual in their community has received advice from the groups on how to use digital media.

According to OpenGov Asia, there are already 9,950 members across 209 community-based digital technology organizations at the communal level and 1,891 groups at the village level. Local anti-COVID-19 organizations served as an inspiration for the creation of those organizations.

The provincial HCYU committee has been urged to collaborate with local administrations to establish and maintain community-based digital technology groups by the Department of Information and Communication.

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