At the panel discussion “Digital Transformation, Technology Transformation – Breakthrough for Progress”, Nguyen Nhat Quang, a founding member of VINASA (Vietnam Software & IT services), raised a question: “Digital transformation and new technology applications bring many benefits to businesses, so why do businesses need government support to adopt them?”

Dau Anh Tuan from VCCI (Vietnam Chamber of Commerce and Industry) noted that all countries have programs to support SMEs (small and medium enterprises) and some even have laws specifically for SMEs. The reason is that SMEs often lack readiness, knowledge, and resources; supporting businesses to carry out digital transformation is a smart investment by the state.

“By helping SMEs with digital transformation, the state enables them to grow. This leads to higher tax revenues. Additionally, better management of cash flow and business revenue improves tax collection,” Tuan explained.

At the seminar “Addressing Bottlenecks, Creating Incentives for Technology Mastery and Breakthrough Development” held on May 27, Thanh said: “In economics, the demand is as crucial as the supply. Today, I want to stress the need for special incentives to stimulate demand to drive the development and application of digital technology.”

“We often focus on supply, i.e., supporting businesses with capital, technology, resources, skilled labor, and even talent attraction. Meanwhile, the demand, or the market where businesses and consumers interact has not been adequately emphasized,” Thanh said.

Vo Tri Thanh outlined four key policy solutions: creating a competitive, fair, and transparent business environment; implementing policies to expand or create markets and demand for businesses, including government procurement; fostering policies to connect supply and demand, supporting startups and SMEs to bring products to market through professional investment funds; and building innovation ecosystems where universities play a key role as entrepreneurial hubs, generating real value for national growth and development.

Doan Manh Ha from Bkav AI noted that many businesses hesitate to adopt AI as it is a new technology and businesses are not sure about its efficiency. In Singapore, the government subsidizes up to 70 percent for businesses implementing AI systems, while in Japan, the government and businesses both spend to deploy AI systems at 50:50 costs.

“For Vietnam, we recommend policies to stimulate demand, meaning the government should partially fund or subsidize organizations and businesses implementing AI systems. With such support, businesses will be more confident in adopting AI,” Ha said.

Trong Dat