Digital transformation offers bright prospects for small- and medium-sized enterprises

Illustrative image. (Photo: VNA)

Hanoi (VNA) – Vietnam’s digital economy is likely to reach 50 billion USD in value by 2025, according to an e-Conomy SEA report. This makes digital transformation an important resource to promote Vietnam’s socio-economic development, thereby opening up opportunities for the sector to grow in the near future, experts said.

According to Vu Tuan Anh, an expert on startup and innovation, digital transformation plays a decisive role in the expansion of enterprises’ scale.

Without digital transformation, it will be difficult for businesses to expand their scale, he said.

Currently, most Vietnamese businesses are micro-, small- and medium-sized enterprises (MSMEs) and face challenges in digital transformation. Thus, building a digital transformation plan in each phase is an urgent requirement to help them understand, apply and successfully manage value chains, Anh said.

Pham My Hanh, Chairman of the My Hanh Group Joint Stock Company, said due to limited financial capacity and human resources in terms of technology, businesses need supportive policies to quickly access new technologies.

It is necessary for agencies and relevant units to organise training courses and career counseling on digitisation for businesses, she said.

General Director of the Mac Land Vietnam Industrial Real Estate Group Joint Stock Company Hoang Van Dai said the application of digital transformation in the real estate sector requires high-quality and qualified human resources in terms of technology to be able to utilise it at work.

The traditional real estate market is undergoing a positive transformation thanks to changes in the adoption of digital technology solutions from construction to marketing, sales and operating the system.

The management of project and customer information or common documents are carried out on the common software, creating synchronisation in the entire system, making the information exchange more coherent, he said.

To Van Hung, General Director of the Recbook Real Estate Community Joint Stock Company, said that the expansion of business scale has forced enterprises to undergo digital transformation. They have designed a single platform, like an internal social network, he said, adding that sales channels, internal working tools and operations are included.

The digitisation of information also brings about benefits as it helps control land information, ensuring its transparency. This is also one of the solutions that have been introduced after the recent “land fever” when the price of land skyrocketed due to a lack of accurate information, he said.

Vietnam currently has 785,000 small and medium-sized enterprises (SMEs), accounting for 98 percent of the total enterprises and contributing about 50 percent of gross domestic product (GDP)./.

VNA