Initiative protecting digital SME assets

Initiative protecting digital SME assets, illustration photo

A workshop on supporting such enterprises (SMEs) in developing and protecting brands and other digital assets in the digital economy held last week lured 200 representatives from ministries, government agencies, business associations and businesses, raising their awareness of the role of digital assets in their business and operations in the context of the Fourth Industrial Revolution.

It also covered the fostering of digital transformation in SMEs, contributing to objectives of the supporting enterprises’ digital transformation 2021-2025 programme, being implemented by the Ministry of Planning and Investment with the assistance from USAID’s LinkSME project since December.

Digital payments, e-commerce, data protection, traceability, barcodes, and blockchain in product traceability was discussed at the workshop between platforms and digital payments groups such as Amazon, Google, Momo, Tiki, KPMG, FPT Software, and TraceVerified, alongside government agencies.

The event was deemed of benefit for SMEs after they have been selected to provide tech assistance activities for developing and positioning of brands, application of traceability and barcodes, and facilitation of products and services to e-commerce platforms, expanding their opportunities to access new markets

Also last week, Amazon Global Selling strengthened collaboration with the Vietnam E-commerce and Digital Economy Agency (iDEA) under the Ministry of Indusry and Trade to jointly support Vietnamese sellers on developing their business through cross-border e-commerce.

At the same time, Amazon Global Selling launched the “Win Global with Local Products in the New Trade Era” campaign to further support Vietnamese sellers in going global, by helping them acquire the knowledge of cross-border e-commerce and providing assistance with their on-board and operations process on Amazon, and improving their competency in building global business.

The objective of both efforts is to jointly build a more vigorous environment for Vietnamese sellers, and equip them with knowledge on how to sell globally, grasp the chance of global e-commerce development, and expand their business internationally.

The “Win Global with Local Products in the New Trade Era” campaign will provide Vietnam entrepreneurs with broader training and education programmes on cross-border e-commerce, covering topics about how to sell on Amazon, the on-boarding process, fulfilment by Amazon, and building a brand on the platform.

“Vietnam is one of the most dynamic emerging countries in the world and has shown its resilience in the time of COVID-19 pandemic. We hope to further contribute to the development of Vietnam cross-border e-commerce and motivate more businesses to go global,” shared Gijae Seong, head of Amazon Global Selling in Vietnam. “This year, Amazon has taken a proactive approach by expanding our cooperation with local organisations, especially iDEA – an agency that has years of experience in training Vietnamese SMEs. Together we are pursuing the vision of transforming the future of Vietnamese exports and enhancing digital economy development.”

Vietnam is home to about 800,000 enterprises, 98 per cent of which are SMEs. Among all small- and micro-sized enterprises, which account for 40 per cent GDP, more than 45 per cent has not engaged well with technology, according to Ralf Matthaes, founder and managing director at Infocus Mekong research.

“However, Vietnamese SMEs lack the capital to invest in technological innovation or expansion of production scale, with poor human resources and weak links between SMEs and large enterprises,” Matthaes added.

Deputy Minister of Planning and Investment Tran Quoc Phuong noted in January that local enterprises are going through the restructuring process and that the application of digital technology is inevitable to ensure sustainable growth and prevent the risk of lagging behind regional and international peers.

The government has issued Decision No.749/QD-TTg regarding the National Digital Transformation Programme until 2025 with a vision to 2030, focusing on SMEs. In order to fulfil the missions, it will be necessary to invest in developing tech platforms to support the growth transformation of such enterprises.