Business Summit highlights significance of digitalisation amidst pandemic

At the Vietnam Business Summit 2020 (Photo: VNA)

Recommendations at the summit will be submitted to ASEAN leaders, who are gathering online for the 37th ASEAN Summit, so that more effective measures will be outlined to support the business community. 

Key topics discussed at the summit included logistics, agriculture and overarching investment challenges in the context of COVID-19.

In his opening remarks, Deputy Prime Minister Truong Hoa Binh underlined the outbreak together with the Fourth Industrial Revolution has brought substantial changes to the global economy. 

In that context, Vietnam should work to overcome formidable challenges and grasp all opportunities to become a new destination for investment waves in the region, he said.

Meanwhile, VCCI President Vu Tien Loc stressed the COVID-19 pandemic has pressed businesses to put forth digital transformation process, explaining it helps Vietnamese firms, especially small- and medium-sized enterprises, to develop a more flexible business model, while cutting cost and optimising resources.

Since the success of digital transformation depends much on political determination and national economic institution, not technology, it is necessary to create a modern economic institution with rational legal framework, which is able to form an ecosystem for e-commerce and digital economy, Loc said.

At the event, many scholars expressed their interest in the pandemic’s impact on global economy, prospects for the Vietnamese economy, foreign investment waves and Vietnam’s FDI attraction strategies, and IT application to improve logistics service efficiency, among others./.

VNA