Digital transformation delivers breakthrough chances to VN

Such concepts as ‘digital transformation’, ‘business model breakthrough’, ‘business digitalization’ have become popular in global economic forums as well as giant technological enterprises. This is also the major focus of Vietnam, in hope of obtaining more tremendous opportunities for development, according to technology experts.

Viettel has eagerly participated in the digital transformation process to create new values. Photo by K.Thanh
Viettel has eagerly participated in the digital transformation process to create new values. Photo by K.Thanh

The experts comment that thanks to the digitalization process, along with the impressive growth of technological advancements, all regular activities of human beings, especially commercial ones, are gradually changing.

There exist a group of businesses which operate basing on real-time data, making them the leader thanks to their remarkable performance and outstanding quality. They can better serve customers, and thus increasing their own revenues while minimizing overhead costs.

In fact, the digitalization process has brought precious values like profit growth, cost saving, real-time operation of complicated data systems, large-scale customization of devices. Therefore ‘digital transformation’ has been ranked in the top three prioritized issues of any business in this era.

According to Mr. Truong Gia Binh, President of FPT Group, since 8 years ago, FPT has continuously received invitations from major international corporations because they are able to master cutting edge technologies like Cloud Computing, Big Data, Artificial Intelligence, or Deep Learning. Until now, FPT has around 700 customers globally, 100 of which belong to the Top Fortune 500.

Similarly, the Vietnam Post and Telecommunications Group (VNPT) obtained satisfying results from its digital transformation in 2018, namely ‘VNPT 4.0 Strategy’ for the development in the period from 2018 – 2025 with a vision to 2030, said its General Director Pham Duc Long. In details, VNPT is going to switch from a traditional telecommunications service provider to a digital service one.

The company is now developing digital solutions and services based on its current digital platforms like media platform and television services, e-government platform, integrated smart city platform, or Internet of Things (IoT) platform.

Regarding Viettel Military Industry and Telecoms Group (Viettel), the contribution rate of digital services such as Content, Media, IoT, and Fintech is particularly impressive at the moment. In 2018, these services accounted for 7.1 percent of the total revenues.

In the upcoming time, Viettel is going to perfect its model of telecoms and digital service enterprise. It has already proposed to the government to allow its participation in digital payment methods like financial switch and digital compensation, sharing payment accounts, telecommunications accounts for minor digital payment.

“To achieve success in the digital transformation process, it is necessary to have the two deciding factors. The first one would be a feasible and comprehensive legal environment. This means the government needs to quickly prepare a national digitalization strategy to be the foundation for businesses. The authorities should also form and strengthen the institution as well as basic policies for the construction of an e-government / digital government. The second factor would be high quality and widespread telecoms infrastructure. To obtain this, the Ministry of Information and Communications should logically plan related frequencies and then pilot the 5G network for national implementation”, said Mr. Le Dang Dung, temporary President and General Director of Viettel.

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