- March 15, 2020
-- Japnit Singh, Deputy Chief Executive Officer of Spire Group, shared his insights on scope and opportunities.
Japnit discussed how the ICT sector in Vietnam holds lucrative opportunities. The country boasts the fastest growing economy in South-East Asia with around 13% GDP (Gross Domestic Product) growth for manufacturing from FDI (Foreign Direct Investment) in 2018.
With the 4th fastest download speed in ASEAN, Vietnam's digital economy continues to grow. E-commerce growth is expected to be 14% from 2019 to 2023, with 97% of online purchases executed through mobile phones.
The government's Digital Economy 2020 plan aims to promote smart cities across the country by 2030. Regulatory reform aims to ease digitization in the government and encourage local businesses to adopt technology. To that end, the government plans to issue more 3G and 4G network licenses. Moreover, the government's National Strategy for Industry 4.0 is focusing on connectivity especially in the 4G network.
By 2020, Vietnam's 235 universities and 153 ICT educational institutes will add 50,000 ICT graduates each year to meet the human resource needs of the sector.https://www.spireresearch.com/newsroom/events/spire-speaks-on-ict-sector-at-the-gates-vietnam-ict-channel-summit-in-da-nang/