Hanoi to build digital trade promotion ecosystem

Hanoi is expected to build a digital trade promotion ecosystem, including the development of apps, databases, and digital platforms, to support businesses' trade activities.

Hanoi plans to take a pioneering role among localities in Vietnam in the push for digitalization.

The move is part of an action plan set out by the Hanoi People’s Committee to realize the Government’s project on promoting IT applications and digital transformation in trading activities during the 2021-2030 period.

The city’s database for trade promotion activities, including information on markets, sectors, businesses, and products, would be incorporated into the network of the Ministry of Industry and Trade.

Under the program, Hanoi would raise the awareness of local businesses in the city on the benefits of digitalization in trade promotion and establishing partnerships with domestic and foreign companies.

The program also stressed the focus on ensuring effective management of trade databases, including safety measures for the digital trade promotion ecosystem.

“Businesses, especially local traders, should further embark on digital transformation and the use of high technologies in trade promotion activities,” stated the program.

To ensure its effective implementation, the authorities are scheduled to hold a series of training courses and conferences on IT application and digitalization for those directly involved in the trade promotion ecosystem; provide tailor-made consultation for companies, and businesses to ensure greater efficiency in trade performance.

Another priority for Hanoi is to allocate funds to upgrade the IT infrastructure, and improve data privacy and security, especially in trade promotion activities on digital platforms.

In the long term, Hanoi would continue to finalize legal frameworks and incentive policies to encourage the use of IT and digitalization in trade promotion activities; revise current regulations to ensure a favorable legal environment for different economic components joining the trade promotion ecosystem.

The financing source for the program would be allocated from the city’s budget, international donors, the business community, and other legal sources.

The Hanoi People's Committee assigned the Hanoi Promotion Agency (HPA), the unit responsible for investment, trade and tourism promotion activities in the city, the role of focal point and cooperation with other agencies in the city to carry out the program.

Under Hanoi’s digital transformation plan until 2025, with a vision to 2030, the city expects the digital economy to make up 30% of the gross regional domestic product. By 2030, Hanoi should be in the top three provinces/cities nationwide in terms of digitalization and among the leading cities in Southeast Asia in data science and AI.