The Vietnam Digital Industry and Trade Summit 2023 was held in Hanoi on November 21, and is expected to promote the connections among state management agencies, associations, organisations and businesses in the field of digital transformation and e-commerce.

An exhibition on technologies, digital transformation solutions, smart manufacturing, and e-commerce applications is held within the framework of the summit.

Speaking at the summit, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said in recent years, the Ministry of Industry and Trade has issued many documents, policies and strategies to promote the digital transformation of the industry and trade sector, focusing on building e-government, promoting the development of digital economy in the industry and trade, and e-commerce nationwide.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan speaks at the summit.

He also expressed his desire to receive recommendations from agencies, organisations, associations and businesses so that the Ministry of Industry and Trade can continue to improve the legal framework and policies to support localities and businesses to promote the development of e-commerce and digital economy.

Global economic growth is currently facing a period of sharp decline due to the tightened monetary policy, and the conflict in Ukraine continues to weigh heavily on economic activities, seriously affecting all economic and social aspects.

Similarly, the Vietnamese economy has faced many difficulties and challenges, such as the decline in orders, lack of product consumption markets and depletion of capital. In that context, e-commerce and the digital economy continue to be one of the bright spots in the socio-economic development of Vietnam.

According to a report by Google, Temasek and Bain & Company on November 1, Vietnam continues to be the country with the fastest digital economic growth in Southeast Asia for two consecutive years (2022 and 2023) and is forecast to continue to hold this position in 2025.

According to statistical survey data from the Ministry of Industry and Trade, Vietnam’s e-commerce still maintained a growth rate of 20% in 2022. It can be seen that over the past years, e-commerce in Vietnam has maintained its growth from 16-30% and is expected to reach 20.5 billion USD this year.