The Development of the Digital Economy in Vietnam

Abstract

By 2020, the global economy is in decline in every sector except for the digital economy. The core of the digital economy is the digital sector (IT/ICT). However, the scope of the digital economy is even broader than that, encompassing a set of emerging digital business models such as digital services, the platform economy, the sharing economy, and more. Recently, the digital economy has had a high growth rate and is widely applied to other economic fields, especially in the period of COVID-19. This article aims to analyze the current situation of Vietnam's digital economy development through five key pillars: i) digital infrastructure; ii) digital platforms; iii) digital financial services; iv) digital entrepreneurship, and v) digital skills. Based on these assessments, the paper gives some recommendations for Vietnam in developing a digital economy.