AloTrip

Where do you travel?

trustpilot

Vietnam digital business classified in Break Out Group

Thu, 26 Feb 2015. Last updated Thu, 25 Jun 2015 09:00

Related stories

According to a survey carried by US researchers about digitization speed in 50 markets, Vietnam digital business is classified in Break Out Group which has great potentials in developing the strongest digital economy in the world.

To better understand the changes in digital business of each country from all over the world, an index was created to classify countries into different categories according to its level of development towards the digital economy.  This index is called Digital Evolution Index (DEI), which was created by Fletcher School of Law and Diplomacy - Tufts University basing on 4 elements including supply source (accessibility, responsiveness, and infrastructure for conducting transaction); quantity demanded (consumer behaviors and trends, knowledge about finance - Internet - social media); breakthrough capabilities (environmental loans, technology, entrepreneurship, the presence and extent of  breakthrough factors and entrepreneurship culture); and organization (effectiveness of government policies, legal systems - regulations, ability to promote the digital ecosystem). 50 countries were ranked depending on two criteria, which are the largest number of Internet users comparing to the total of 3 billion users in the world and the country which is believed as home of next one billion users. The objective of the study is to find out which country having the fastest changes to proceed to the digital economy. According to survey results, developing countries in Asia (including Vietnam) and Latin America occupy the highest positions.

 

A group of 50 countries revelas four main areas of digital readiness

 

Based on activities in a period of 2008 - 2013, the research team of Fletcher School of Law and Diplomacy classified 50 countries in 4 groups involving Stand Out, Stall Out, Break Out, and Watch Out. Stand Out Group consists of countries having the high level for developing digital in the past and continuing the upward trend.  Stall Out Group includes nations having the high level of digital development in the past but gradually falling behind. Break Out is a group of countries having great potentials in developing the strong digital economy. In spite of having low overall score, these countries are gradually going up and will become members of Stand Out Group in the future. Finally, Watch Out Group are nations having facing challenges in the development of the digital economy. These countries gain low point for both speed and level. Nonetheless, they still have good opportunities to promote the digital business. Some of them can make a breakthrough with effective measures.

 

Online shopping day in Vietnam in 2014

 

From the survey, Break Out Group includes India, China, Brazil, Vietnam, and Philippines. These countries are significant growing in terms of digital. Nonetheless, it is forecasted that the next development stage is more difficult to complete. Remaining this speed means that the countries will have to solve many challenges such as improving the infrastructure or attracting smart consumers. Meanwhile, Watch Out Group includes Indonesia, Russia, Nigeria, Egypt and Kenya. The common features of this group are institutional instability and low possibility of reforming. They have one or two elements to attract investment, in which the most outstanding one is the population.  If removing the problems of institutional instability and low possibility of reforming and taking advantage of population, these countries will make use of resources efficiently. Almost Western countries, Australia, and Japan belongs to Stall Out Group. The only way to make a lead is follow the way of Stand Out countries, try to make double breakthrough, and seek international markets.  In the future, it is expected that consumers will purchase goods by mobile devices. International influence will become more and more increasing. All are moving towards the digital planet with different speeds. 

  • View
    2563
  • Share
    0
  • Comment
    0
  • 0
  • 0
  • 0
Japan increases investment in finance and service in Vietnam
Japan increases investment in finance and service in Vietnam

In the downtrend of FDI in Vietnam, Japanese enterprises tend to pay more attention in the fields of retail, technology transfer, banking, finance and service in Vietnam instead of the manufacturing sector as before.

Vietnam economy promoted in World Economic Forum 2015
Vietnam economy promoted in World Economic Forum 2015

In the World Economic Forum 2015 in Devos, Vietnam economy was promoted in the conference. After the conference, Vietnam hopes the business and investment environment will be improved.

Vietnam - India trade promotion enhanced
Vietnam - India trade promotion enhanced

India is one of the strategic partners of Vietnam. To further develop the relation between two countries, Vietnam - India trade promotion is being enhanced significantly. Besides, other sectors are developed in the cooperation between two countries.

66 percent Japanese enterprises will expand business in Vietnam
66 percent Japanese enterprises will expand business in Vietnam

According to the survey on production and business activities of Japanese enterprises in Vietnam carried by Japan External Trade Organization (JETRO), approximately 66% Japanese enterprises still tends to expand business in Vietnam.

Vietnam Airlines sets IPO date in September
Vietnam Airlines sets IPO date in September

IPO is Initial Public Offering in which a company sells its shares to the general public for the first time. Under the plan of equitisation of State enterprises, Vietnam Airlines intends to perform its IPO in September 2014.

National action plan for Vietnam green growth strategy
National action plan for Vietnam green growth strategy

National action plan for Vietnam green growth strategy has been approved recently. This strategy aims to reduce greenhouse gases emissions, develop infrastructure, cope with climate change and drive economic growth in a sustainable manner.

Thu Thiem new urban area of Ho Chi Minh City in future
Thu Thiem new urban area of Ho Chi Minh City in future

Ho Chi Minh City decided to expand center area including the whole Thu Thiem new urban area. There are accordingly some changes in Ho Chi Minh districts as well as the city urban area.

Da Nang takes master plan on urban development
Da Nang takes master plan on urban development

Da Nang authority takes master plan to make the city into a large urban area of Vietnam and a major socio-economic hub of the Central. The plan has been recently declared to the Prime Minister for approval.

Dalat worries nuclear reactor hitting tourism
Dalat worries nuclear reactor hitting tourism

Vu Van Ninh, the deputy of Prime Minister has asked authorities of central part of Vietnam to consider proposal of Lam Dong Province on relocating the future nuclear reactor area outside the resort town in Dalat in years to come.

Cat Bi International Airport to be expanded in 2015
Cat Bi International Airport to be expanded in 2015

Project of expanding Cat Bi International Airport is one of projects on key transportation development in Hai Phong, and it is expected to finish in 2015. This project has a total capital of 3,600 billion dong.

Can Tho invites investment in Thanh Phu agricultural zone
Can Tho invites investment in Thanh Phu agricultural zone

The Department of Planning and Investment of Can Tho City stated that they are inviting foreign investment ing Thanh Phu agricultural zone in Co Do District with an area of 100 hectares.

Vietnam mergers and acquisitions market has a great potential
Vietnam mergers and acquisitions market has a great potential

On August 7, 2014, Vietnam Mergers and Acquisitions Forum 2014 took place in Ho Chi Minh City with a subject of Mergers And Acquisitions Before The Second Wave. The event was organized by an investment magazine of Ministry of Planning and Investment.

Vietnam Japan ICT Forum held in Hanoi
Vietnam Japan ICT Forum held in Hanoi

Some days ago, Ministry of Information and Communication of Vietnam and Japan Ministry of Internal and Communication held Vietnam Japan ICT Forum 2015. Through the cooperation the quality of Vietnam post will be improved significantly.

Vietnam products interest Korean market
Vietnam products interest Korean market

In a recent trade conference between Vietnam and Korea, many Korean firms expressed their desire to cooperate with Vietnam businesses in more fields. Especially, Korea takes special interest in Vietnam products including agriculture and fishery products.

Vinamilk won IUFoST Award 2014
Vinamilk won IUFoST Award 2014

On August 19, at a congress of Food Science and Technology held in Montreal (Canada), Vietnam Dairy Products Joint Stock Company - Vinamilk has been honored with the global food industry award - IUFoST 2014.

Vietnam enterprises promoting trade in France
Vietnam enterprises promoting trade in France

On June 23rd, a delegation of representatives of Vietnam enterprises has a meeting with French counterparts to introduce and promote Vietnam market as well as to seek for business opportunities in France.

First Vietnam Airlines A350 XWB tested by Airbus
First Vietnam Airlines A350 XWB tested by Airbus

In the coming time, Vietnam Airlines will welcome the first Airbus A350 XWB. Vietnam Airlines will be come the first carrier in Asia owning the latest aircraft of Airbus. At the same time, the airline will receive its Boeing B787-9 Dreamliner this month.

France cooperates to push Ho Chi Minh City economy
France cooperates to push Ho Chi Minh City economy

In the time coming, Ho Chi Minh City economy will be enhanced with the cooperation of France. By dint of the cooperation, both two countries get benefits from each other.

Vietnam industry mounts over 7% in July
Vietnam industry mounts over 7% in July

The General Statistics Office announced the index of Vietnam industry in July 2014 with positive proportion of 7.5% compared to the same period of last year. This is one of the key indicators to measure "health" of Vietnam economy in general.

Solitude Beijing and Shanghai amid Corona outbreak
Solitude Beijing and Shanghai amid Corona outbreak

Contrary to the daily bustle and business, major cities in China such as Beijing and Shanghai are exceptionally deserted during the days of coronavirus outbreaks. From the most dynamic city, Beijing has few shops or restaurants opened.

Landmark 81 – the highest building in Vietnam
Landmark 81 – the highest building in Vietnam

On December 13th, an 81-storey skyscraper named The Landmark 81, which belongs to luxury urban area Vinhomes Central Park was started construction by Vingroup. It is expected that this highest building in Vietnam will be inaugurated in 2017.

Starbucks Vietnam opens three stores in Hanoi
Starbucks Vietnam opens three stores in Hanoi

Starbucks will open its three coffee shops in Hanoi in the effort to conquer the demanding palates of residents in this city. According to a representative of Starbucks Vietnam, the first three stores will be opened in prime locations of Hanoi.

Ho Chi Minh City opens 2nd McDonalds restaurant
Ho Chi Minh City opens 2nd McDonalds restaurant

After the success of the first restaurant on Dien Bien Phu Street, District 1, McDonalds Ho Chi Minh City will open the second on May 16th. The new restaurant is located near Ben Thanh Market, on Tran Hung Dao Street.

Vietnam economy forecasted to grow in 2014
Vietnam economy forecasted to grow in 2014

As global economy is having positive changes, Vietnam economy will be definitely boosted. It is expected to increase 5.6 percent in this 2014 thanks to the recovery of the United States and Eurozone in banking reforms.

Da Nang becoming the most worth-living city in Vietnam
Da Nang becoming the most worth-living city in Vietnam

39 years after the Vietnam Liberation Day, Da Nang has developed significantly in all aspects. More importantly, Da Nang City has leave impression on tourists and residents as the most worth-living city in Vietnam.

Vietnamese middle class increases most rapidly in Asia
Vietnamese middle class increases most rapidly in Asia

According to a recent survey conducted by ANZ, it is reported that Vietnamese middle class increases most rapidly in Asia, about 2 million Vietnamese joining the middle-class of Vietnamese society every year.

Asia Park Da Nang begins forthcoming operations
Asia Park Da Nang begins forthcoming operations

Sun Group Corporation recently has celebrated groundbreaking ceremony to construct Asia Park Da Nang cultural park and recreation on 2/9 street with a total investment of $ 200 million.

Thu Thiem new urban area of Ho Chi Minh City in future
Thu Thiem new urban area of Ho Chi Minh City in future

Ho Chi Minh City decided to expand center area including the whole Thu Thiem new urban area. There are accordingly some changes in Ho Chi Minh districts as well as the city urban area.

Ho Chi Minh Vincom Center will open Kids World
Ho Chi Minh Vincom Center will open Kids World

The second Kids World will be opened on Dong Khoi Street by Ho Chi Minh Vincom Center, on April 25th. With a scale of more than 5000 square meters, Kids World is expected to be the paradise for children.

Attractive activities for Children Day in Hanoi
Attractive activities for Children Day in Hanoi

June 1st has been chosen as the International Children’s Day since 1950. On this occasion annually, a large number of attractive activities for Children Day in Hanoi will be celebrated in several attractions and amusement parks across the city.