CSIRO's Data61, the data and digital specialist arm of Australia’s national science agency, and Vietnam's Ministry of Science and Technology have launched today Vietnam's Future Digital Economy, a report that examines the trends affecting the development of Vietnam's digital economy until 2045.

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Launched at the Science, Technology & Innovation as a Pillar for Socio-Economic Development in Vietnam conference in Hanoi, the report is part of the Australian Government's Aus4Innovation program, an AU$10 million strategic initiative designed to strengthen links between the Australian and Vietnamese innovation systems.

"The Vietnam's Future Digital Economy report provides a blueprint for Vietnam to plan for the country's digital future. It is a tremendous example of successful collaboration between our national innovation systems," H.E. Dr Chu Ngoc Anh, Minister of Science and Technology said.

H.E. Mr Craig Chittick, Australian Ambassador to Vietnam, said this report was the first major output of the Aus4Innovation partnership between Australia and Vietnam.

"It will guide our work over the next three years as we deepen the collaborative linkages between our two countries and help strengthen the Vietnamese innovation system as it adapts to the challenges and opportunities of the digital economy," Mr Chittick said.

Dr Lucy Cameron, lead author of the report and Senior Research Consultant at CSIRO's Data61, noted that Vietnam has been one of the world’s fastest growing economies and has already become one of the most dynamic countries in the East Asia region.

"The next wave of digital technologies — Artificial Intelligence, blockchain, the Internet of Things, and platforms and cloud-based services — has the potential to transform Vietnam into Asia's next high-performing economy. Vietnam will need to seize these substantial opportunities while carefully navigating a number of risks," Dr Cameron said.

CSIRO's Data61 has worked with the Ministry of Science and Technology's team to identify seven megatrends affecting Vietnam's future digital economy. These include the impact of emerging digital technologies, new export markets for Vietnam, the development of modern digital infrastructure, the push to smart cities, the rise of digital skills and services and changing consumer behaviours.

Megatrends informed the development of four potential future scenarios, which provide a blueprint for decision makers to plan for Vietnam's future digital economy.

"How the future plays out will depend on Vietnam's position in the regional digital economy, and the level of adaptation to digital products and services across government, the community and industry," Dr Cameron said.

This is the second report completed by Data61 for the Aus4Innovation program. The first report, Vietnam Today, examined the state of Vietnam's macro economy and digital economy in 2018.

To download the full report, visit: Vietnam's Future Digital Economy

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