Driving dual transformation

The report focuses on simultaneous digital and green transformations, providing an overview and updates on the global and Vietnamese digital transformation landscape. It aims to offer businesses multidimensional perspectives on the dual transformation trend, providing valuable insights to empower them on their journey of innovation and business improvement towards sustainable success.

The report is an annual publication within the framework of the business digital transformation support programme for 2021-2025 period, led by the ministry's Agency for Enterprise Development with support from the German government through GIZ.

Nguyen Duc Trung, deputy director of the Agency for Enterprise Development, said, “This year's publication aims to provide concepts and trends of dual transformation happening globally to enhance awareness within the business community and government regarding the potential impacts it may have on Vietnam. This publication will offer a comprehensive overview and updates on the digital transformation landscape worldwide and in Vietnam, helping businesses gain additional multidimensional perspectives on the dual transformation trend. This is a trend that businesses around the world are currently implementing as part of the digital transformation process.”

Nguyen Duc Trung, deputy director of the Agency for Enterprise Development under the Ministry of Planning and Investment, delivered a speech at the conference

The report highlighted that in Vietnam, digital technology and digital transformation are expected to drive the success of transitioning to a green economy model, realising strategic goals for green growth.

The analysis of business readiness, especially for small and medium-sized enterprises in 2023, indicates that aspects related to strategic direction show the highest readiness level for digital transformation. This reflects businesses' proactive efforts in learning, updating, and accessing trends, solutions, and technological innovations to apply in their operations.

Limitations in standardising process systems, operating policies, data collection, storage, analysis, infrastructure connectivity, and IT systems, as well as investment resources for small and medium-sized enterprises, lead to low readiness levels in supply chain and ICT and data management aspects.

The results of the report show significant improvement in scores, all surpassing the average threshold (>2.5) with increases ranging from 0.7 to 1.4 points compared to the previous year. This indicates that businesses in all sectors recognise the importance of digital transformation in their development strategies, and enhancing necessary resources, especially leadership personnel or investing more in digital transformation projects. This is a positive sign showing that businesses are ready for this breakthrough and comprehensive digital transformation.

Although businesses have sufficient awareness and knowledge of digital transformation, they may struggle to implement this comprehensive change independently. Therefore, having policies and consulting services on digital transformation roadmaps and suitable solution applications are indeed necessary for businesses to excel.

Digital transformation to drive circular economy A programme focussing on digital applications for visualising material cycles and resource efficiency and their role in advancing the circular economy in Vietnam was held on January 24 in Hanoi. It was led by the Resource and Environment Communication Center (RECC) in partnership with Japan's Environmental Renewal and Material Circulation Bureau.

PM urges FIEs lead the way on green transformation Seeing foreign-invested enterprises (FIEs) as an important driving force behind innovation, Prime Minister Pham Minh Chinh has called on them to help Vietnam implement its green transformation and sustainable development strategies.

Net-Zero: Challenges and opportunities for Vietnamese businesses The process of the net-zero green transformation is urgent for Vietnamese enterprises, yet many are still mulling over where to start.