Digital transformation tops Vietnam CEO Summit 2019

Nguyen Manh Hung, Deputy Minister of Information and Communications, speaking at the summit

The event attracted the participation of famous and leading experts in the field, including David Bray, executive director of People-Centered Internet; Keith Davies, director, Energy and Resources at Monitor Deloitte Singapore; Jeffrey Saviano, EY Global Tax Innovation Leader; Douglas Abrams, CEO of Expara; as well as powerful enterprises in Vietnam among many others.

“Digital transformation opens big opportunities for Vietnam. Digital transformation is a revolution of policies and institutions rather than a technology revolution. The key driver of digital transformation is to change mind-*set,” said Nguyen Manh Hung, Deputy Minister of Information and Communications “This year, Vietnam will announce the Strategy on National Digital Transformation towards becoming a digital economy and society. The five key drivers are institutions, infrastructure, cybersecurity, platforms, and education,” he added.

During the annual summit, the participants discussed strategies that enable businesses to successfully conduct a digital transformation and prosper.

Especially, leaders of powerful Vietnamese firms shared and discussed with leading experts about the sectors that draw early benefits from digital transformation.

“Enterprises must adapt and achieve digital maturity to operate effectively in this new world,” said Keith Davies, who focused his presentation on digital transformation and customer experience.

According to Keith Davies, the eight great traits of digital business are think "exponential", create "agile execution", "acquire capabilities" to catalyse the culture, "protect the people", "customer first", new ideas to solve old industry issues, and focus on value.

The summit also saw discussions about digital drivers to spur growth and increase competitiveness, Vietnam’s 2030-2045 vision guiding development policies and creating value from global trends, especially the Fourth Industrial Revolution and global integration.

The agenda also included solving tax problems with advanced technologies and digital technology solutions – and developing these modern growth drivers in corporations.

At present, the majority of businesses are still concerned about how to apply blockchain, the application scale, value, and others. Experts agreed that blockchain has potential applications in many fields such as banking and finance, retail, manufacturing, and telecommunications.

With Vietnam’s priority policies to develop IT into a spearhead industry, the country is expected to become a favourable destination for blockchain to grow.

As part of the summit, this year's Top Ten Commercial Banks in Vietnam, Top Ten Insurers in Vietnam, Top Ten Technology Firms in Vietnam, and Top Ten Listed Firms in Vietnam were also announced.

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