Internet helps increase Vietnam’s GDP

The Internet contributes 0.9 percent to total Vietnam’s GDP and 1.6 percent to the country’s total 14.4 percent GDP growth.

This is part of a report by McKinsey & Company, released at a conference in Hanoi this week.
The report, called “Online and upcoming: The internet’s impact on rising countries”, is based on a survey conducted among 30 countries.
According to the report, the Internet also helps small and medium enterprises increase business effectiveness by 19 percent.
At the conference, Deputy Minister of Information and Communication Le Nam Thang said the internet has developed strongly in Vietnam, with more than 30 million internet users out of the nation’s total population of 87 million.
He said the robust growth of the telecommunication and information technology sectors in recent years will potentially create breakthroughs for the Vietnamese economy, helping Vietnam integrate more deeply into the world.
The Vietnamese Government considers the internet as important national infrastructure, assisting other sectors, he said.
However, Shaowei Ying, Vice Director of McKinsey & Company’s Singapore office, said e-commerce in Vietnam has not been adequately invested and exploited. Vietnamese enterprises have not yet made full use of the internet to maximize their effectiveness and reach more customers.
Participants at the conference suggested that in future the government should promote investment in internet infrastructure and expand coverage to rural areas.
They also recommended that Vietnam strengthen its manufacture and exports of information technology products in order to attract more foreign investment.
VNA
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