Ho Chi Minh City allocated funding to support small and medium enterprises in digital transformation
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- Digital
- 10:39 14/09/2024
DNHN - Ho Chi Minh City will provide support to small and medium enterprises (SMEs), cooperatives, and business households that meet the criteria as per regulations, with solutions and funding for digital transformation.
On September 13, the Ho Chi Minh City Department of Information and Communications (DIC) collaborated with the People’s Committee of Phu Nhuan District to organize a conference to implement the digital transformation support program. The event also piloted a survey to assess the readiness of enterprises, business households, and wholesale and retail stores in the district for e-commerce and digital transformation.
According to Tran Minh Tuan from the Department of Digital Economy and Society (under the Ministry of Information and Communications), e-commerce currently accounts for about 8% of Vietnam's total retail sales, with an annual growth rate of 20-25%. Vietnam's e-commerce retail market size is estimated to reach $20.5 billion in 2023, ranking third in Southeast Asia, behind only Malaysia and the Philippines. However, compared to other countries such as China (43%), the UK (35%), South Korea (28%), and the US (26%), Vietnam's e-commerce proportion remains relatively low, indicating significant potential for future growth.
However, Vietnam's retail sector is also facing many challenges, such as competition from foreign e-commerce platforms and risks related to product security and financial management.
To support retail stores in their digital transformation, the Ministry of Information and Communications has approved a support program, selecting Phu Nhuan District as the pilot area before expanding to the whole of Ho Chi Minh City and nationwide.
Mr. Lam Dinh Thang, Director of the Ho Chi Minh City Department of Information and Communications, stated that the city is striving to develop its digital economy, aiming to have the digital economy contribute 22% to the city's GRDP by 2024, 25% by 2025, and 40% by 2030. Key sectors such as education, healthcare, tourism, and social welfare are also being prioritized in the digital transformation process.
Ho Chi Minh City will provide support to SMEs, cooperatives, and business households that meet the set criteria with digital transformation solutions and funding, aiming to create new value and contribute to the city's socio-economic development.
Linh Anh
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