Emphasizing the power of digital transformation, Mr. Nguyen Trung Chinh – Vice Chairman of Vietnam Association of Private Entrepreneurs, Chairman and CEO of CMC Corporation said that the more speedy enterprises implemented digital transformation, the sooner success came.
* Digital transformation is said to leverage the power of technology, but is a real challenge for many Vietnamese businesses. In your opinion, in order to keep up with this trend, what must Vietnamese enterprises do?
I think that every businesses should answer three questions as face three challenges. The first question is why we have to do that. The second one is which business issues will be solved by digital transformation. Lastly, what should be changed?
For Vietnamese businesses, I think the perception of digital transformation is very important. For example, we should recognize that digital transformation is an opportunity to reach the market in the speediest way. Vietnamese enterprises must realize that they do not have to invest in complex information technology systems but have the available tools to step into digital transformation.
Many businesses wonder how security level will be when using new technology and new tools. I assert, the system of professional suppliers is much more secure and safe than systems operated by enterprises themselves.
Similarly, depositing money in a is safer than keeping it at home as the bank has modern security and management systems. When depositing money in bank, if lost, you will be refunded. By contrast, if the money kept at home is stolen, no one will be responsible.
* Why do you think that digital economy is the only way for Vietnam to escape the middle-income trap?
In my opinion, the increasing demand for digital economy is opening great opportunities for not only Vietnam but also globally, while Vietnam has the capacity to provide a digital transformation platform for businesses.
Vietnam has a great advantage of young population and a passion for technology. The Vietnamese are gifted in natural sciences. This is an advantage that not every country has to build high quality Information and Technology (ITC) human resources.
Fortunately, in the last decade many Vietnamese enterprises, including CMC Corporation, have made good preparations in their capacity to provide IT infrastructure services. Therefore, Vietnam can completely become a digital service provider to other countries.
Vietnam has long and wide sea where many fiber optic lines pass through. It is a very important infrastructure advantage to make our country become a Digital Hub in the region. Vietnam is a relatively large market in the region with the population of nearly 100 million people, which is also a competitive advantage.
*To make digital economy efficiently contribute to the economic development, in your opinion, how do the government’s policies as well as the business itself need to change?
In the digital national construction roadmap, digital infrastructure is required to build a digital government and digital economy. Digital infrastructure includes technology devices, data, applications as well as policies and human resources. . The Government should encourage the rapid and sustainable development of digital infrastructure, building data centers, telecommunications infrastructure and smart cities.
Many Vietnamese technology corporations aim to build a technology ecosystem, turning Vietnam into a Digital Hub – a hub for data and telecommunications infrastructure connectivity in Asia – Pacific. .
In my opinion, the Government should encourage and create favorable conditions for all economic sectors, especially the private sector, to contribute to building the digital nation. Especially:
-Boost the development of digital technologies and solutions as well as participate in regional and global production and value chains by bringing digital services to the international market
– Encourage startups to make innovation, thus developing start-up ecosystems, promoting digital applications.
– Create favorable conditions for the private economy to deeply participate in the process of international economic integration and expand markets to Europe and Japan, Korea, the US, etc.
– The Government needs to create conditions to build Vietnam into a Digital Hub of the Asia-Pacific region.
*You said that you wanted to support startups to develop. So what are some actions to help them seize the opportunity of digital transformation?
– CMC determines the mission is to create the infrastructure to help other businesses harness the power of the digital economy, thereby creating their own success. With the mechanism working as a infrastructure ecosystem, we believe that the number of businesses participating in digital transformation is growing higher and higher, bringing more benefits to themselves and their partners.
For startups and small businesses, in the digital economy and digital transformation, the opportunities are equal. Startups are mostly technology companies, they need huge workloads and large human resources for digital transformation. For example, the services of moving the system from the traditional environment to the cloud have generated demand for work. I think that if startups and businesses seize such opportunities, they can have access to the digital economy.
* Can you share what CMC needs to do in 2020 to contribute to the digital transformation of businesses as well as to promote the digital economy in Vietnam?
In 2020, CMC aims to implement digital transformation in the whole corporation. To successfully turn the purpose into reality, awareness is the first step of change, we need to seek new business models, new markets as well as new products and services, taking advantages of 4.0 industrial revolution. To do that, not only me but each of us must think about what our business needs to change to meet the demands of the digital economy.
* Thank you for your sharing!
(Source: Saigon Entrepreneur)