Vietnam well poised to become digital economy: report

By Nguyen Quy   January 23, 2020 | 01:03 pm GMT+7
Vietnam well poised to become digital economy: report
Vietnamese people use smartphones at Tao Dan Park in Ho Chi Minh City. Photo by Shutterstock/An Nguy.
Vietnam is better prepared than several of its Southeast Asian peers to become a digital economy, a new report says.

The country is ranked 70th among 141 economies and is classified in the high stage of acceleration in a report on digital readiness prepared by U.S. tech firm Cisco.

The ranking measures 141 countries based on seven criteria: basic human needs, business and government investment, ease of doing business, human capital, start-up environment, technology adoption, and technology infrastructure.

Singapore was the world’s most digital-ready economy, followed by Luxembourg and the U.S. Denmark came in fourth while Switzerland rounded the top five.

Vietnam scored an overall 12.06 points out of 25, surpassing the global average of 11.9. It performed better than Southeast Asian neighbors Indonesia (73rd), the Philippines (81st), Cambodia (102nd), Laos (107th) and Myanmar (111th).

In Southeast Asia, Vietnam is behind Singapore (1st), Malaysia (38th) and Thailand (55th).

Vietnam scored highest in terms of human capital, ranking 28th globally, the report said.

Vietnam was ranked 47th in ease of doing business, 55th in start-up environment, 74th in basic needs and 79th in technology adoption. 

The country was not well placed in terms of technology infrastructure, standing at 93rd globally. Its business and government investment was also the weakest among seven criteria used in determining the economy’s digital readiness, standing at 127th.

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