AI to Boost Vietnam's Digital Economy to $220 Billion by 2030

According to Google's forecast, Vietnam's digital economy will grow significantly, reaching $220 billion by 2030, which is nearly half of Vietnam's current GDP. Marc Woo, the Managing Director for Vietnam at Google Asia-Pacific, shared this potential at the "Shaping Vietnam's AI Future" program launched by the National Innovation Center (NIC, Ministry of Planning and Investment) and Google on July 11.

Marc Woo stated that the digital economy in Southeast Asia has grown eightfold in eight years, reaching $100 billion, and is expected to rise to $835 billion by 2030, thanks to artificial intelligence (AI). In Vietnam, the digital economy is projected to grow 11 times, reaching $220 billion.

However, Woo emphasized that Vietnam is currently facing the challenge of a shortage of personnel and experts in the AI field. This shortage, coupled with the lack of opportunities to access high-quality AI training programs, is widening the gap between market demand and available talent.

In addition, AI startups in Vietnam face difficulties in accessing experts and advisors to evaluate and develop market-appropriate products. They also lack the necessary infrastructure, platforms, and tools for developing, commercializing, and scaling AI products.

The Ministry of Planning and Investment, along with the National Innovation Center (NIC) and Google, launched the "Shaping Vietnam's AI Future" program on July 11. According to Tran Duy Dong, Deputy Minister of Planning and Investment, the Ministry has always proactively advised the Government in developing and implementing solutions to help Vietnam seize the opportunities and overcome the challenges of the Fourth Industrial Revolution.

These activities include researching and submitting to the Prime Minister the national strategy for the Fourth Industrial Revolution until 2030; proposing the establishment of the National Innovation Center; developing the Vietnam Innovation Network with thousands of Vietnamese experts and intellectuals worldwide; and developing a plan for semiconductor industry human resources with the goal of training 50,000 semiconductor engineers by 2030, including 5,000 specialized in AI development.

The "Shaping Vietnam's AI Future" program will focus on two main pillars: talent development and enterprise support. The program will provide 40,000 scholarships covering 10 courses, including an AI course, to equip the young generation of Vietnam with AI skills, including many officials, lecturers, and students from over 80 universities and colleges nationwide.

Additionally, recognizing the crucial role of local startups, Google has committed to supporting the development of Vietnam's startup ecosystem, particularly in the AI era, through the Google for Startups Accelerator program. Google aims to support and promote Vietnamese startups from the early stages, contributing to building a strong and sustainable startup ecosystem.