Leave The Private Sector To Motivate New Technology

In order to keep the private sector dynamic and motivated to apply new technology, the government needs to ensure competition when some markets are almost naturally dominated by leading businesses Digital due to holding know-how, has an exotic network and advantage of scale of 9: 00/3: 36 NAMTHEO WB, to become digital powers, Vietnam will need to facilitate In order for domestic units to apply and adapt to the new global digital technologies. Vietnam will be compared with peer opponents and are ambitious about the popularity of mobile phones such as Thailand, Korea, Singapore; People, Vietnamese enterprises are able to connect well to the Internet. More, Vietnam's digital infrastructure is quite modern, covered with provinces and cities and invested by domestic telecommunications companies. Vietnam is also the destination of some of the world's leading IT companies such as Apple, Samsung, Intel, .

.. This represents Vietnam's competitiveness and establishes a special platform for businesses and units. Domestic development - the model of Japan and South Korea applied in the 1970s and 1980s, and recently China
The most recent score report of the World Bank said that Vietnam will need to do a lot Moreover if you want to become digital powers. The government needs to focus on solving 3 failures of the market with smart solutions. First is to ensure the ability to provide digital skills. This is a key solution because there are one-third of the existing jobs in Vietnam at risk of being lost in the next 5 years due to the digitization. Digital conversion will create many new jobs, these This job will require many new skills. It is possible to expect the labor market to gradually adjust due to high demand for skilled labor will increase relative wages. This will encourage workers and enterprises to increase investment in education and training. However, according to WB, international experiences have demonstrated that employees may not have information or financial resources to head Investing in longer education paths. With the current speed, Vietnam may take 25 years to have the number of students registered into universities such as in Thailand today. The second solution is to ensure The domestic private sector is always dynamic because the renovation cycle in the digital economy is very short
To keep the private sector dynamic and motivated to apply new technology, the government needs to ensure maintenance Competition when some markets are almost naturally dominated by leading digital enterprises due to holding know-how, have an exotic network impact and scale advantage. Seeing such concentration in the broadband market fixed and increased sharply in social media (with Facebook's dominance) and digital sectors evil, such as e-commerce, fintech, digital finance and data management.do, WB said that there is a policy to reduce accession barriers and strengthen legal regulations to avoid Abuse. At the same time, in other aspects, authorities need to support businesses to start business in the country and small investors and have talented financial difficulties by providing them many funding options As has been successfully implemented in some other countries, including Singapore. Third and also the last solution is that the government needs to facilitate access to data and information. This is one Public goods for the benefit of sharing information is often higher than that cost of information collection. The government can enhance access to information by connecting the database of all levels, sectors and through open data initiatives - including sharing online public data in a friendly way With users. Government can also encourage the private sector to collect and share data because the new digital tools and platforms have reduced the monopoly of the state. All of these activities should also take into account the privacy and security of data and user data.

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