Vietnam sets up a digital trade ecosystem

With a general goal of strengthening IT application and digital transformation in trade promotion, the project aims to develop an ecosystem with all trade promotion organizations and give more than 200,000 businesses accounts by 2025 with 50% of them having transactions and sharing information on the system. A trade promotion database with 10 major export items will be established and connected with the database of 10 major export markets.

All trade promotion agencies and more than 100,000 businesses, cooperatives, and business households will be trained in IT use and digital transformation in trade promotion activities and information security.

The digital trade promotion ecosystem will be completed by 2030. Three major solutions to realize the project include building and developing the digital trade promotion ecosystem, fine-tuning mechanisms and policies, and improving awareness and capacity.

At the Vietnam Export Promotion Forum 2021 in Hanoi last month, Tran Thi Hong Minh, Director of the Central Institute of Economic Management, said in order to adapt to the new normal brought about by the COVID-19 pandemic, businesses need to be flexible and accelerate digital transformation. She said it’s important to strengthen links between business, technology, and human resources to create new breakthroughs.

Ms. Minh said, 'Digital transformation in trade and export promotion will create new momentum for traditional trade promotion. But it’s important to ensure adaptability and connectivity of digital transformation of trade and other trade sectors. In addition, we need to integrate traditional measures with e-commerce and digital transformation to enhance trade promotion activities.'

The highlight and also the focal point of the project is to design, develop, and operate the digital trade promotion ecosystem called “Decobiz-Digital Ecosystem for Businesses”.