Conference on researching the development of digital economy in Ho Chi Minh city: Efforts towards a smart and sustainable urban future

28 April, 2024

On April 26, 2024, the Department of Information and Communications of Ho Chi Minh City, in collaboration with the University of Economics Ho Chi Minh City, organized the “Conference on Researching the Development of Digital Economy in Ho Chi Minh City.” This conference is a crucial part of the research project on the Development of Digital Economy in Ho Chi Minh City, aiming to propose specific solutions for developing the digital economy – a global trend in the era of the Fourth Industrial Revolution.

Experts attain the conference

At present, digital technology has become a driving force for rapid economic and social development. The era of the Fourth Industrial Revolution, and upcoming Artificial Intelligence era, open a world where not only smart products, systems, and flexible services are prevalent, but also smart and sustainable cities become an inevitable development trend. In this context, the digital economy and its integrated economic models will be crucial factors for Vietnam’s growth in the coming decades, especially in Ho Chi Minh City, a promising and dynamic digital economy market.

Understanding the importance of this, the Department of Information and Communications of Ho Chi Minh City has led the implementation of the project “Researching Solutions for Developing the Digital Economy in Ho Chi Minh City,” with the University of Economics Ho Chi Minh City as the coordinating unit. The conference on “Researching Solutions for Developing the Digital Economy in Ho Chi Minh City” is part of this project, aiming to listen to insights from experts, research groups about lessons learned from implementing and evaluating the digital economy in Vietnam and around the world, especially in South Korea, along with proposing methods for collecting data, analyzing, and evaluating the digital economy suitable for the existing conditions of Ho Chi Minh City.

Overall of the conference

The conference was attended by Mr. Lam Dinh Thang (Director of the Department of Information and Communications), Mr. Lam Nguyen Hai Long (Chairman of the City’s Informatics Association), Dr. Jaeuk Ju (Researcher, Seoul Institute), along with representatives of the People’s Committee, universities, organizations, and industry. From the University of Economics Ho Chi Minh City, there was the presence of Prof. Dr. Su Dinh Thanh (President of UEH), Assoc. Prof. Dr. Bui Quang Hung (UEH Vice President), Assoc. Prof. Dr. Phan Thi Bich Nguyet (Chairwoman of the Strategic Advisory Council), together with esteemed professors, leaders, and faculty members, as well as researchers from the member schools of UEH.

Prof. Su Dinh Thanh sharing about objectives of the conference

From understanding the international experience in digital economy development…

Throughout the conference, the research team from the Institute of Smart City and Management (UEH – ISCM) and experts presented and analyzed the factors to propose a digital economic model suitable not only for global trends but also for the current situation of Ho Chi Minh City. The research team provided perspectives on the digital economy from smart urban development, including components, digital economic ecosystems, development strategies, and especially the influence of a co-creative community (co-creation platform) applied in the digital economic development strategy.

Not only discussing theoretical concepts and models, but the expert group also addressed approaches through evaluating digital economy – economic organization with three criteria (DESI, ADB, OECD) being applied by EU countries, Asia, OECD member countries, and its partner countries. Through this, the research team compared and identified appropriate and inappropriate characteristics concerning the digital economic situation in Ho Chi Minh City.

Dr. Trinh Tu Anh – Director of the Institute of Smart City and Management shared the solutions suggested by experts team

In addition, to provide the most realistic perspective, the conference was joined by Dr. Jaeuk Ju (Researcher, currently working at the Seoul Institute). With a Ph.D. in Economics from Cornell University, USA, Dr. Jaeuk Ju has experience in technology innovation and new industries. He is currently working at the Seoul Institute, advising and researching policies for the Seoul capital government since 1992, supporting plans for digital transformation, digital economy, housing, transportation, etc.

Participating in the program, Dr. Jaeuk Ju presented a speech related to the implementation process and evaluation of the digital economy: lessons learned in Seoul, South Korea. Having been involved in policy-making for the city government through in-depth research, collaboration with domestic and foreign research institutes, and relevant parties, providing a foundation for proposing effective economic policies for Seoul city, Dr. Jaeuk Ju discussed the methods, analysis models applied directly in Seoul, thereby drawing effective directions for the project.

Dr. Jaeuk Ju shared his experience in the conference

… To proposing solutions suitable for the situation in Ho Chi Minh City

Synthesizing research and experiences, the research team proposed solutions for developing the digital economy in Vietnam. These are solutions for data collection, analysis, and evaluation of the digital economy for Ho Chi Minh City. These proposals are not only modern, efficient, and extensively technology-applied but also ensure the locality of the city by the Saigon river. The solutions were then discussed and received feedback from delegates and guests attending the conference.

Discussion with industrials

From understanding international trends to researching the actual situation to ensure the practicality of the proposed solutions, the directions provided by the ISCM research team and experts are evidence of “Think Globally, Act Locally”.  The conference is not only a crucial step for research project on the Development of Digital Economy in Ho Chi Minh City led by the Department of Information and Communications of Ho Chi Minh City, in collaboration with the University of Economics Ho Chi Minh City, but also an affirmation of the journey to equip sustainable thinking, sustainable actions, contributing to the economic development of Ho Chi Minh City and Vietnam as a whole.

New, photos: ISCM, Marcom