Digital transformation and data investment: the future trend
Three out of top ten Vietnamese domestic brands have demonstrated commendable business performance in 2022, closely linked to their extensive digital transformation activities, according to the Vietnam Customers Experience Excellence (CEE) report by KPMG for the year 2022.
Vietnam has set a target to achieve a contribution of 20% to the GDP from the digital economy by 2025. (Photo: VNA)
Hanoi (VNS/VNA) - Three out of top ten Vietnamese domestic brandshave demonstrated commendable business performance in 2022, closely linked totheir extensive digital transformation activities, according to the VietnamCustomers Experience Excellence (CEE) report by KPMG for the year 2022.
Specifically, Viettel Group, for example, has announced that the total revenuereached 163 trillion VND, with pre-tax profit exceeding 43 trillion VND. Thesenumbers represent a growth rate of 6% and 3% respectively compared to theprevious year, marking the highest profit level for the group in the past fiveyears.
The Phu Nhuan Jewelry Joint Stock Company (PNJ) achieved a net revenue of 33,876billion VND in 2022, a substantial increase of 73% compared to the same period.Sacombank also reported a pre-tax profit of over 6.3 trillion VND, showing asignificant increase of 142%.
Businesses in Vietnam and around the world in general are making stronginvestments in technology, including automation on data platforms, analytics,and artificial intelligence. These investments have two main objectives - toincrease operational efficiency while reducing costs, and to enhance values andcustomers’ experiences.
Vietnam has set a target to achieve a contribution of 20% to the GDP from thedigital economy by 2025, and 30% by 2030.
However, during the process of digital transformation, businesses are facingbarriers such as the leadership's awareness and mindset towards digitaltransformation; negative attitudes of employees, group interests, fear ofmultitasking; or concerns about data loss and security, among others.
Such obstacles are evident in the cases of clients that are consulted bySyllog, a Singapore-based company that provides consulting services in digitaltransformation and technology implementation, from 2021 to 2023.
"The most important aspect of digital transformation for a company, inaddition to creating a culture of utilising data and automating processes on adata platform, is to establish a foundation and save resources for the companyto transition to the data analysis and artificial intelligence phase, enabledby a standardised data system" said Hanh Nguyen, co-founder of Syllog.
“When properly advised and implemented, digital transformation enablesbusinesses to unlock their potential, optimise resources, and achievesustainable development,” she added./.
Revenue per available room (RevPAR) for four and five-star hotels and resorts showed a sharp increase in H1 compared to a year earlier, rising 13.7 percent to 69.1 USD.
The appearance of 11 Vietnamese brands in the list of Asia’s top 1,000 this year has demonstrated domestic firms’ increasing awareness about building and affirming their own brands.
The customs sector should be one of the pioneering industries in promoting the application of science and technology, and digital transformation, Deputy Prime Minister Tran Luu Quang said at the opening ceremony of the Technology Conference and Exhibition of the World Customs Organisation (WCO) in Hanoi on October 10.
Agricultural product brands of each farmer and enterprise must be on the digital map so as to affirm their value and reach out to the international market, Minister of Agriculture and Rural Development Le Minh Hoan said.
The Ho Chi Minh City People’s Committee on October 17 opened the municipal Digital Transformation Week 2023 in response to the National Digital Transformation Day 2023 (October 10).
The Ho Chi Minh National Academy of Politics (HCMA) and the Paris-headquartered Association of Vietnamese Scientists and Experts (AVSE Global) on October 25 co-organised a seminar on the driving force of innovation in the digital transformation context.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
Vietnam has set a target to achieve a contribution of 20% to the GDP from the digital economy by 2025. (Photo: VNA) 
