While sustainable smart cities are considered a solution to sustain international business investments, for Vietnam experts have advised local cities and provinces to prioritise building them to attract FDI. According to the World Bank, Vietnam is amongst the fastest-growing economies globally, with an average GDP growth rate of 6.31 percent from 2000 to 2020, adding that it has been an attractive destination for international businesses for the last 30 years due to its rapid economic reforms, rich resources and high population.
Read more: VN: Smart and sustainable cities to attract quality FDI
Vice Chairman of Hung Yen provincial People's Committee Nguyen Hung Nam on December 13 handed over a decision on establishing a clean industrial park, and an cooperation agreement on smart city development to the Korea Land and Housing Corporation (LH) of the Republic of Korea (RoK) in the framework of the Vietnam - Korea Business Forum.
The forum, which was held in both face-to-face and online forms by the Ministry of Planning and Investment, the Vietnamese Embassy in the RoK and tthe Federation of Korean Industries (FKI) on the occasion of Vietnamese National Assembly Chairman Vuong Dinh Hue’s ongoing official visit to the RoK, attracted representatives from 500 enterprises of the two nations.
Read more: VN: RoK real estate firm develops smart city in Hung Yen
Digital transformation will be the focus to effectively control the pandemic and restore socio-economic development over the next two years, Vietnam Prime Minister Phạm Minh Chinh has confirmed.
He made the remark while attending the third edition of a national forum on the development of Vietnamese digital enterprises in Hanoi on Saturday (Dec 11)
Digital transformation in the economy is expected to contribute significantly to the policy of improving efficiency in Vietnam.
According to the World Bank, the use of digital platforms, e-commerce sites, social networks and specialized applications in Vietnam has increased sharply in response to the COVID-19 epidemic, from 48% businesses in June 2020 to 73% in January 2021. During the same period, the rate of enterprises investing in digital solutions - such as installing equipment and software for business operations - quadrupled from 5% to 21%.
Since 2010, Da Nang has identified information and communication technology as one of the three strategic breakthroughs in socio-economic development.
The central city of Da Nang topped the Digital Transformation Index (DTI) rankings in 2020 for localities nationwide in all three key pillars of digital government, digital economy and digital society, according to the DTI 2020 Report released several days ago by the Ministry of Information and Communications.
Read more: VN: Why has Da Nang taken the lead in digital transformation?