Despite the impact of the pandemic on Vietnam’s economy, with GDP only forecast to grow at 2% in 2021, tech firms have prospered as businesses have been forced to modify traditional operations.

The digital economy will make up 30% of Vietnam’s GDP, and the proportion of digital economy in each industry will hit at least 20%, according to the National Digital Transformation Program to 2030. The Covid crisis and extended lockdowns have fuelled the rise of the digital transformation in Vietnam.

The Deputy Minister of Information and Communications, Pham Duc Long announced at a recent press conference that there are more than 5,600 new digital organisations in Vietnam, due to the necessity to "work online, sell goods online, and solve problems online".

In addition, the Deputy Director of the Information Technology Department at the Ministry of Information and Communications, Nguyen Thanh Tuyen said the country’s digital technology industry achieved a growth rate of over 9% last year, three times more than GDP growth.

The pandemic has resulted in a change to consumption trends, directly impacting businesses, yet it has also been a “golden opportunity” to go digital. The Deputy Minister of Information and Communications went on to say that this year there was a 5% rise in people working in digital technology in Vietnam, amounting to around 60,000 people.

Moreover, the National Forum for Development of Digital Technology Businesses 2021, with the theme "Digital transformation - The driving force for economic recovery and development", is taking place on Saturday in Hanoi, where organisers will unveil the country’s digital transformation goals.