Ongoing "High-Level Forum "Vietnam - Asia Digital Transformation 2022"

DNHN - On March 15, 2022, the National Committee for Digital Transformation released Decision No. 27/QD-UBQGCDS on the promulgation of the Work Plan for 2022, which included socioeconomic development targets, boosting the use of e-contracts by firms to 50%.

The High-Level Forum "Vietnam - Asia Digital Transformation 2022" officially began on May 25 and will last two days, with 18 seminars, digital transformation displays, and expert presentations on deep and ground-breaking digital transformation solutions...

"Digital Transformation Synergy for the Development of the Digital Economy"

The forum drew over 2500 delegates in person and 10,000 online, who are senior leaders of the Government, agencies, ministries, branches, and localities; leaders of economic groups, corporations, businesses, and organizations in economic sectors with a demand for digital transformation; leaders of leading domestic information technology enterprises, international business delegations, research units, experts, and media agencies. The forum is also a warm event to commemorate the Prime Minister's recent approval of "Digital Transformation Day" on October 10.

The subject of this year's Vietnam - Asia Digital Transformation Summit 2022 (Vietnam - Asia DX Summit 2022) is "Digital Transformation Synergy to Develop the Digital Economy." More than 150 speakers will participate in 18 conference sessions, including an inaugural session and 18 theme sessions organized around four axes:

Government No. 3: Community Synergy for Ministries; Community College Synergy for Localities; and College Experience in Asian Countries.

Finance – Banking; Transportation – Logistics; Medical; Education; Travel; Commerce; Real Estate; Agriculture are among the top industries emphasizing digital transformation.

SMEs, Manufacturing firms, Digital platforms - Cloud computing; Digital Human Resources, Digital Startup, and Startup-Pitching are examples of digital enterprises.

Digital transformation in Asia: featuring two sessions and information exchange from 11 Asian nations and economies on effective digital transformation projects, experiences, and examples.

In addition to the main conference sessions, there are side events such as the Digital Solution Platform Exhibition and the digital transformation supply and demand connection (live & online). The activities of the forum are intended to achieve the following goals: Introducing solutions - Sharing a vision - Of digital transformation, and connecting supply and demand.

Mr Nguyen Van Khoa, President of VINASA, stated at the Conference, "Developing Vietnam's digital economy requires synergy from all levels of government to accomplish the Prime Minister's highly hard aim. Our resources are not only a few but also dispersed. Synergies between ministries, branches, locations and localities, and enterprises and enterprises. "

These components will work together to develop systematic, focused initiatives, open and transparent rules, and appropriate and optimal digital ecosystems for Vietnamese agencies and organizations.

Digital technology companies are collaborating to create high-quality digital transformation platforms and solutions, invest in research and accelerate the application of new technologies such as AI and Blockchain, and build a digital ecosystem to aid in digital transformation for agencies, organizations, and businesses. Enterprises are dedicated and constantly ready to collaborate with the government, ministries, branches, and municipalities to advance the digital economy and accelerate digital transformation.

Early May 2022, 63/63 localities in Vietnam will have created a Digital Transformation Steering Committee, 55/63 localities will have published resolutions on digital transformation, and 59/63 localities will have released 5-year programs/digital transformation projects or plans. Simultaneously, the Government published Decision 505/QD-TTg designating October 10 as National Digital Transformation Day, emphasizing the significance of national digital transformation. In several provinces, digital transformation has resulted in positive early outcomes in development and happiness for people and enterprises.

E-contracts: Increasing company efficiency

The seminar "Role of the Government, Ministries, and Sectors in the Development of the Vietnamese Digital Economy" was conducted as part of the Vietnam - Asia Digital Transformation Summit 2022.

Mr Dang Hoang Hai, Director of the Department of E-commerce and Digital Economy (Ministry of Industry and Trade), stated at the seminar, "Along with the growing pace of e-commerce, conventional commercial transactions.  A certified electronic contract application system can assist organizations in increasing their company performance and reaching out to new consumers." 

In recent years, Vietnam's e-commerce has experienced amazing growth, with an annual growth rate of 16-17 per cent. Businesses and merchants conduct e-commerce transactions using e-commerce platforms, social networks, and direct sales websites. Despite their rapid development, e-commerce transactions always include significant risks for both customers and sellers.

Mr Dang Hoang Hai, Director of the Department of E-commerce and Digital Economy, Ministry of Industry and Trade, stated that the contract is a fundamental element of commercial transactions to ensure the safety of transactions and contract signed for entities in the e-commerce environment. Widespread use of e-contracts will boost digital commerce in particular, as well as local and foreign economic operations in general. With this important meaning in mind, the Ministry of Industry and Trade has submitted to the Government a legal framework for the authentication of e-contracts in Decrees 52/2013/ND-CP and, most recently, Decree 85/2021 /ND-CP on E-commerce, thereby officially creating the necessary legal corridor to license the activity of certifying electronic contracts in Vietnam.

According to Dang Hoang Hai, the use of E-contracts will allow contracting parties, including people, organizations, and corporations, to reap several benefits. The first is the cost-cutting problem. A typical contract might cost paper, printing, contract delivery charges, or travel costs in today's dollars. When each contract is signed electronically, the cost savings for businesses and people range from 30,000 VND to 80,000 VND. When multiplied by the current number of contracts exchanged yearly, the cost reductions for businesses and individuals are significant.

Furthermore, it is about saving time and enhancing performance. When compared to the existing paper contract method, which requires the Business Director or Leader to be present at the office to sign, the implementation of E-Contracts will save a significant amount of time in contract development. Although the unit's leaders may be on a business trip, they can nonetheless authorize and sign contracts. "This saves a lot of time and greatly enhances job efficiency," stated Mr Dang Hoang Hai.

Furthermore, with electronic contracts, third parties such as banks, organizations, and state management agencies can rely on the electronic contract with the authentication of units licensed by the Ministry of Industry and Trade, or through the Ministry of Industry and Trade's Electronic Contract Development Axis to verify the original value of the contract. This saves a significant amount of verification time while also ensuring the limitation of fraudulent and forged papers.

Mr Dang Hoang Hai believes that keeping contracts in electronic form will make it easier for businesses to maintain, lookup, and search for contracts while also assuring the safety and security of contract material.

Traditional commercial transactions utilizing verified electronic contracts can help organizations enhance company performance and attract new clients as e-commerce develops. Contribute to the advancement of socioeconomic growth by assisting a civilized society.

The National Committee for Digital Transformation published Decision No. 27/QD-UBQGCDS on Promulgating the Work Plan for 2022 on March 15, 2022, which contains socio-economic development targets and promotes growth rate. The use of e-contracts by businesses has reached 50%.

The Ministry of Industry and Trade promptly issued Circular 01/2022/TT-BCT guiding Decree 85/2021/ND-CP, the legal corridor is ready, in the first and second quarters of 2022, the Ministry of Industry and Trade has worked with businesses that submit applications for registration of providing electronic contract authentication services and are ready to provide services in June 2022, aiming to achieve the National Digital Transformation Committee's plan to build the legal corridor.

The Ministry of Industry and Trade has built the National Electronic Contract Development Axis system in tandem with the completion of the legal corridor and licensing foundation for firms (CeCA.gov.vn).

The pivot system will serve as a repository for nationwide contract authentication information for third parties, as well as a support platform that connects registered e-contract certifying organizations with a timestamp, digital signature, identification, and authentication service provider licensed by the Ministry of Information and Communications. 

The National Electronic Contract Development Axis system will be responsible for constructing and developing the actual application market for e-contracts, as well as connecting government technology platforms and trusted digital infrastructures to businesses, organizations, and users through commercial transactions. 

"Each e-contract transaction will be accompanied with regulations on dispute resolution, complaints, and the management of issues that may arise throughout the process of entering and executing the contract." Helping enterprises, organizations, people, and third parties have a trusted intermediate agency to handle difficulties that arise when entering into contracts and contracts in electronic form," stated Mr Dang Hoang Hai at the Talk.

Tran Linh