Ho Chi Minh City allocated funding to support small and medium enterprises in digital transformation
- 11
- 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
Related news
#business environment
Practical applications of carbon credits for the economy. Part VII: Enhancing national image in the fight against climate change
Reducing carbon emissions has become a top priority. In this context, carbon credits have emerged as a crucial tool to enhance a nation's image in the battle against climate change.
ESG strategy for small and medium enterprises: From compliance pressure to growth opportunity
Amid digital transformation and increasing demands for sustainable development, small and medium enterprises (SMEs) in Vietnam are facing mounting pressure to adapt swiftly or risk being left behind.
Building tax policies to support sustainable business development
Prime Minister Phạm Minh Chính has recently directed the Ministry of Finance to research suitable policies and called on local authorities to address the challenges faced by businesses.
Why is Vietnam always attractive to foreign businesses?
Vietnam attracts foreign businesses thanks to its favorable investment environment, abundant labor, and competitive costs. Open-door policies and free trade agreements also enhance the country's appeal to global investors.
Thái Nguyên: Stimulating digital transformation for sustainable development of enterprises and cooperatives
In the first half of 2024, Thái Nguyên witnessed a surge in digital transformation with the goal of digitizing 700 enterprises and contributing 20% of the digital economy to the GRDP by 2025.
"Many South Korean enterprises investing in Vietnam have created a favorable investment ecosystem"
"Many South Korean enterprises investing in Vietnam have created a favorable investment ecosystem", said President Yoon Suk Yeol, while requesting Prime Minister Pham Minh Chinh to facilitate the participation of South Korean businesses in Vietnam's
Đọc thêm Digital
VietLeap AI Accelerator launches: A strategic springboard for Vietnam’s AI startups
The program is expected to select 10 to 15 high-growth potential AI startups with clear funding needs.
Vietnam advances cybersecurity law to boost digital sovereignty and business resilience
In a significant step towards strengthening Vietnam’s digital defenses, the National Assembly Standing Committee convened on September 23 to review the draft revised Cybersecurity Law.
Vietnam embraces digital tools to modernize public administration
Across Vietnam, local governments are turning to digital platforms, QR codes, and AI-powered assistants to modernize public services—making them faster, more transparent, and more accessible to citizens.
Administrative procedures for establishing the national technology exchange reduced to one application set
Deputy Prime Minister Nguyen Hoa Binh has just signed Decision No. 2108/QD-TTg approving the plan to streamline internal administrative procedures within the state administrative system under the management of the Ministry of Science and Technology.
Government’s plan to implement Law on Digital Technology Industry approved
The Government has approved a plan to implement the Law on Digital Technology Industry (the Law) scheduled to take effect from January 1, 2026, according to a report from the Government News.
Shark Nguyễn Hòa Bình: Hanoi will become the capital of startup innovation.
Recently, in Hanoi, the seminar “Formulating City People’s Council Resolutions to Promote Science and Technology Development in Connection with the Implementation of Politburo Resolution No. 57-NQ/TW and the Capital Law No. 39/2024/QH15” was held.
Da Nang proposes semiconductor cooperation with Oregon (USA)
Leaders of Da Nang City have proposed that Oregon (USA) and the city explore cooperation opportunities in priority sectors such as semiconductor technology, logistics, and the development of Free Trade Zone (FTZ) infrastructure.
How the UAE Transformed from Oil Wealth to AI Leadership?
Once famed as the Gulf’s “oil brain,” the United Arab Emirates (UAE) is now redefining its global standing, emerging as one of the top three nations in artificial intelligence (AI), trailing only behind the United States.
ShopeeFood and Grab dominate Vietnam’s food delivery market
As 2025 begins, Vietnam’s food delivery market is expected to remain highly concentrated, with only a few platforms dominating the space unless new players enter the fray.
E-commerce in 2025: Explosive opportunities amid fierce competition
E-commerce in Vietnam continues to grow rapidly but faces intense competition and rising costs, forcing businesses to optimize strategies and technologies to maintain profitability.