Gao Yujia, a professor at the National University Hospital in Singapore, delivered a keynote speech on convergence of 5G and AI in healthcare during the event, themed on empowering digital economy growth in the new era.

Over the past 5–10 years, the world has witnessed an exponential increase in the application of AI in healthcare, according to Yujia.

“Indeed, the AI revolution in healthcare began with simple applications such as medical imaging diagnostics. AI is used to analyse X-ray and MRI scans to significantly reduce reading times for doctors. Meanwhile, early-warning systems in emergency departments adopt AI to improve detection rates and recommend potential interventions,” Yuija said.

The revolution in wearable devices has brought significant changes to health behaviours and health practices, Yujia added. “Data from smartwatches have encouraged people to better take care of their health, surpassing any initiatives to educate and raise health awareness in place over the past decade,” Yuija said.

The boom in telehealth during the pandemic marked a major turning point in healthcare innovation. Telehealth has gradually transformed into a primary care option. At the same time, the use of surgical robots has grown, not only within individual hospitals but also through cross-border collaboration. For instance, a surgeon in China can operate a surgical robot to treat a patient in Greece.

The concept of the medical metaverse, including VR/AR and mixed reality, is building momentum, and the technologies are increasingly being applied to simulate environments in three dimensions.

Today, large language models and generative AI are now widely used, but the enormous amount of data they rely on raises a critical question: how to utilise these resources responsibly and sustainably in a highly connected world.

“Another concept is spatial AI, or spatial computing, where AI operates within three-dimensional space rather than only processing two-dimensional or structured data. Through the use of geospatial data to improve spatial awareness, coupled with computer vision–based analysis, we are moving into the next phase of AI integration in healthcare,” Yujia said. “All these advancements in healthcare require solid network infrastructure to support data transmission, data processing, and analysis through cloud computing, enabling AI systems to function in daily clinical practice.”

Meanwhile, the National University Hospital in Singapore has begun deploying 5G within its healthcare system. The 5G network is implemented as a private virtual network, and allows the hospital to leverage public infrastructure while maintaining a secure, enterprise-level private network that can be accessed from anywhere in Singapore.

In practice, the National University Hospital in Singapore now has nationwide 5G coverage. The hospital has also deployed numerous AI applications from physical workstations and moved them to the 5G network.

VIR conference targets the next wave of digital growth VIR is set to host a major conference on Vietnam’s digital economy, bringing together policymakers, international organisations, and business leaders.

Empowering digital economy growth in new era A conference on the digital economy is taking place this morning (November 25) featuring a policy dialogue between government agencies and the business community, offering a platform for stakeholders to share concerns and explore cooperation opportunities.

Vietnam boasts potential to develop medical tourism With reasonable costs, advanced equipment, a team of good doctors, and a patient-centred care model, Vietnam has great potential to become a prestigious medical tourism destination in Southeast Asia.

Vietnam’s digital economy continues its upward trend as gross merchandise value (GMV) is projected to reach $39 billion in 2025, up from $34 billion in 2024.

E-commerce maintains its leading role, rising 17 per cent to $25 billion. Transport and food continues its trajectory as it jumps 20 per cent to $5 billion. Online travel is set to increase 16 per cent to $4 billion, while online media is expected to grow 16 per cent to $6 billion.

The report said Vietnam’s economy has demonstrated strong resilience, largely powered by a dynamic private sector. Primary growth engines are robust export growth, fuelled by significant foreign investment in manufacturing, and a double-digit expansion in domestic retail sales.

The State Bank of Vietnam has delivered crucial support in the form of a flexible monetary policy that has maintained macroeconomic stability, it added. The effective partnership between private-sector vigour and supportive governance has enabled the country to successfully navigate global economic headwinds.

As part of a national digital transformation agenda, Vietnam has rolled out electronic IDs for all residents and businesses, streamlining access to online public services. Banks have recently completed a comprehensive verification of all digital payment accounts, an initiative that has standardised customer information and significantly curbed fraud. The passage of new laws on digital technology and data provides fresh incentives for tech firms while establishing robust legal frameworks for digital assets, AI, and data usage.

Merchant adoption of cashless options and the growth of active e-wallet accounts to 30 million set off a surge in non-cash and VietQR payments in 2024, towards a target of 80 per cent cashless transactions in e-commerce by 2030. As of this year, QR payments in Vietnam are fully interoperable with those in Thailand and Cambodia, creating new potential for tourism and economic flows between the nations.

According to the report, Vietnamese users rank first in Southeast Asia for AI engagement and trust, leading in daily interactions and willingness to share data for personalised experiences. Some 81 per cent of Vietnamese respondents say they interact with AI tools and features every day, while nearly 60 per cent say they have conversations with and ask questions of AI chatbots. Meanwhile, half of users say they expect AI to make decisions faster and with less mental effort.

Vietnam’s video commerce market has sustainable foundations, as seller and transaction numbers grow in lockstep. In 2025, Vietnam is home to 650,000 video commerce sellers and stores, a surge of 60 per cent on-year. Meanwhile, transaction volume is expected to reach $1.3 billion, an increase of 60 per cent on-year.

The top 10 video commerce sellers per category drive 20 per cent of the total category. The average order value ranges between $5.50 and $7 per order. Fashion and accessories take the lead in video commerce GMV, followed by beauty and personal care, phone electronics, and everyday supplies.

Empowering digital economy growth in new era A conference on the digital economy is taking place this morning (November 25) featuring a policy dialogue between government agencies and the business community, offering a platform for stakeholders to share concerns and explore cooperation opportunities.

VIR conference targets the next wave of digital growth VIR is set to host a major conference on Vietnam’s digital economy, bringing together policymakers, international organisations, and business leaders.

Vietnam strengthens 5G to unlock digital economy The Asia-Pacific’s digital transformation landscape is witnessing Vietnam steadily asserting its position as a rising force, drawing recognition from global industry players.

On November 25, at the Digital Transformation 2025 conference organised by VIR, leading Vietnamese technology and telecommunications enterprises together with international organisations demonstrated that Vietnam’s digital economy has expanded at a remarkable speed, as AI and 5G open a new chapter for the country’s digital future.

Nguyen Phong Nha, deputy general director of the Authority of Telecommunications under the Ministry of Science and Technology, said that Vietnam now possesses an advanced telecommunications infrastructure that fully meets the needs of the digital economy, with technologies on par with developed nations.

“The rapid expansion of 5G and fibre-optic networks reflects the strong efforts of Vietnam’s telecom operators. Cloud computing technologies are also ready to support national infrastructure, forming a modern, resilient, and well-covered telecommunications backbone,” he added. “This proves that Vietnam’s infrastructure can fully meet the needs of businesses and economic sectors, and is prepared for foreign investors seeking to enter the Vietnamese market.”

Nguyen Phong Nha, deputy general director of the Authority of Telecommunications under the Ministry of Science and Technology

To further accelerate national digital economic development, four new strategic resolutions, including Resolutions 57-NQ/TW, 59-NQ/TW, 66-NQ/TW, and 68-NQ/TW, have been adopted. This four-pillar framework focuses on science and technology, international integration, legal reform, and private-sector development, creating new room for enterprises and markets to grow.

Assessing this policy momentum, Nha noted that the resolutions have been translated into sector-specific actions, with the Ministry of Science and Technology (MST) playing a crucial role in promoting innovation.

“From a policy perspective, institutional improvements and legal reforms have advanced rapidly. New policies are being put into practice within a short timeframe, enhancing transparency and facilitating trustworthy, efficient digital-based economic activities,” he said.

Beyond policy support, Nha highlighted how telecom enterprises have acted swiftly to enhance infrastructure resilience. For example, networks in storm-affected areas were restored within just 48-72 hours.

“Foreign high-tech firms investing in Vietnam’s telecom infrastructure are also committed to providing safe, disaster-resilient equipment, while small- and medium-sized enterprises and startups are building applications on digital platforms,” he emphasised.

From a European perspective, Yves Vanderstraeten, vice-chairman of the Digital Sector Committee at EuroCham, stressed that Vietnam is advancing rapidly, with strong momentum in its digital economy and online trade. He noted that the Vietnamese government has shown clear commitment to digital transformation.

“The UN e-government index shows Vietnam rising 15 places, from 86 to 71, which is the proof of strong commitment and tangible progress achieved in a relatively short time,” he said.

“EuroCham’s quarterly surveys show that European investor confidence in Vietnam is significantly higher than two years ago. We remain very optimistic about future investment opportunities,” he added.

From an enterprise standpoint, Hoang Van Ngoc, chief of the strategy division at Viettel, identified four major trends currently shaping the landscape of Vietnam’s digital economy.

“First is the AI-isation of everything, which is driving the digital economy. Second is the rise of data: data extraction, analysis, utilisation, and building ecosystems around data. Third is the shift to cloud computing. And fourth is innovation across digital platforms and data-driven ecosystems,” Ngoc stated.

Hoang Van Ngoc, chief of the strategy division at Viettel

Reflecting on Vietnam’s position in the global digital era, the Viettel representative described Vietnam as one of the fastest-growing digital transformation nations. The government aims for the digital economy to contribute 30 per cent of GDP, and Vietnam’s annual digital-economy growth rate of 25-30 per cent is among the highest in the region.

“Vietnam enjoys several advantages: a dynamic and open government committed to institutional reform; a large and expanding base of digital subscribers; and one of the most advanced telecommunications infrastructures in the world. Viettel alone will operate 28,000 5G stations by the end of 2025, with 90 per cent population coverage,” the representative noted.

“Vietnam also has strong IT talent, and importantly, we have transitioned from being digital-product consumers to digital-product creators, with the potential to export these solutions,” Ngoc added.

Sharing the perspective of another major telecom-digital enterprise, Le Xuan Son, deputy general director of VNPT-IT, emphasised the central role of human capital in executing the digital-economy agenda.

“Vietnam can now be fully confident about its infrastructure. Issues such as submarine cable incidents have greatly diminished, and cybersecurity remains secure. The newly issued resolutions act as a powerful catalyst: Resolution 57 serves as the locomotive guiding technological direction, Resolution 66 provides the institutional railway tracks, Resolution 69 supports international integration, and Resolution 68 empowers private-sector dynamism. Together, they form a machine driving digital economic development,” he said.

Le Xuan Son, deputy general director of VNPT-IT

However, Son also acknowledged existing limitations that must be addressed. For instance, Vietnam’s sandbox mechanisms remain underdeveloped, and while “Made in Vietnam” digital platforms are encouraged, their presence remains limited.

“In our view, digital economy progress cannot be measured merely by internet penetration or GDP growth. The digital economy is fundamentally data-driven; when data becomes a core asset and is effectively governed, growth potential becomes immense. Technology provides the tools, but people are the decisive factor in execution,” Son noted, adding that human capability will determine the success of the four strategic resolutions.

Bui Kim Thuy, vice-president of the President Club, noted that while citizens may not fully grasp the conceptual details of the four resolutions, they clearly perceive the outcomes: Vietnam’s internet and 5G quality is among the world’s best, yet prices remain among the lowest.

“Nearly all citizens have access to high-speed internet, including free access in many public spaces. This leaves a very positive impression among both domestic users and foreign experts,” she said.

Discussing sandbox implementation under the new resolutions, Thuy pointed out the unique challenges facing state-owned enterprises.

“The dual mandate of generating business results while fulfilling state responsibilities means they cannot take risks the way private firms can. In a recent discussion with leaders of a major state-owned economic group, they noted that private firms can operate at a loss for years, whereas a single year of losses would be disastrous for SOEs. This makes sandbox experimentation extremely difficult without special mechanisms approved by the government or the Politburo,” Thuy stated.

She further emphasised the critical importance of 5G, calling it the backbone of the digital economy.

“Many large corporations are already deploying 5G to optimise real-time production. Vietnam’s top enterprises are surpassing national standards in technology adoption. The biggest challenge now lies within small- and medium-sized enterprises, where digital technology adoption remains limited, creating significant disparities in implementation capacity,” she added.

Overview of the panel discussion

Empowering digital economy growth in new era A conference on the digital economy is taking place this morning (November 25) featuring a policy dialogue between government agencies and the business community, offering a platform for stakeholders to share concerns and explore cooperation opportunities.

AI and 5G harnessed to revolutionise healthcare The convergence of AI and 5G is transforming healthcare, enabling innovations that enhance connectivity, efficiency, and patient-centred care, as heard at a VIR conference in Hanoi on November 25.

Vietnam has the talent to excel in digital age: Ericsson Ericsson’s leader in Vietnam has explained how a strong 5G foundation will allow every business to operate with the speed and precision.

At a conference on the implementation of a circular economy in Vietnam on November 11 in Hanoi, Phi Vinh Tuong, deputy director of the Institute of World Economics and Politics, said that the topic has become a global trend as countries confront rising sea levels, climate change, and resource crises.

“For Vietnam, the circular economy is no longer an option but an inevitable pathway to meet sustainable development goals, fulfill its net-zero emissions commitment by 2050, and concretise the nation’s action plan on the issue by 2035,” he asserted.

Tuong pointed out numerous challenges in developing the circular economy in Vietnam, both in policy and implementation, warning that Vietnam risks being excluded from global value chains if it does not rapidly adopt relevant practices.

“Although several relevant economic development policies have been issued, they remain fragmented, lack sector-specific guidance, and lack mechanisms for intersectoral coordination. Recycling infrastructure and national material-flow databases are still weak, while enterprise capacity, especially among small and medium-sized enterprises, also remains limited,” he said.

Proposing solutions to accelerate development, Tuong explained the need to immediately improve governance frameworks for the circular economy, establish intersectoral coordination mechanisms, and prioritise relevant models in key sectors such as agriculture, processing and manufacturing, and urban development.

“Designing green financial mechanisms, encouraging related investment, and developing green credit systems and circular economy funds to support enterprises are also needed,” he said.

At the same event, Le Van Loi, president of the Vietnam Academy of Social Sciences, said the government’s approval of an action plan on the issue towards 2035 is a strategic step to translate key directions in the Law on Environmental Protection 2020, the green growth strategy, and the national climate change strategy into practice.

“The circular economy is becoming the architectural foundation for national development amid the dual transition of digitalisation and green transformation. It provides a pathway to reduce dependence on resource extraction, optimise energy use, and create economic value chains built on recycling, reuse, and technological innovation,” Loi said.

Meanwhile, Bui Quang Tuan, vice president of the Vietnam Economic Scientific Association, highlighted another limitation: Vietnam’s growth model still relies heavily on cheap labour, with limited spillover effects from foreign-invested enterprises, particularly in technological capabilities.

“Notably, contributions from science, technology, and innovation to economic growth remain modest. Vietnam has yet to participate deeply in global value chains, and its economy is not truly green. The circular economy is still in its early stages in certain sectors such as agriculture and eco-industrial parks,” he said.

Nguyen Dinh Dap of the Vietnam Academy of Social Sciences noted that most domestic enterprises lack the resources needed for the transition. Such development requires innovation, scientific application, and access to advanced technologies.

“To develop the circular economy, enterprises need teams of skilled experts capable of addressing challenges across the entire value chain. Therefore, the biggest puzzle for enterprises is securing financial resources to pursue green production and suitable business models,” he said.

To provide practical support, Dap suggested that the government should introduce incentives such as VAT reductions, tax exemptions, and subsidies to encourage circular business models. Initial financing support for enterprises is also essential to facilitate their transition towards relevant business practices.

Over the past decade, Vietnam has gradually built a policy foundation for the development of green banking, particularly following the government’s net-zero commitments made in 2021. The State Bank of Vietnam (SBV) has played a central role since issuing the green banking development scheme in 2018.

The scheme aimed that by 2025, at least 10 commercial banks had officially implemented green banking models and green credit accounts for at least 5 per cent of total outstanding loans in the economy.

According to the SBV, by the end of 2024, total outstanding green credit in Vietnam’s banking system reached approximately $25.5 billion, accounting for 4.5 per cent of total outstanding loans, 1.6 times higher than in 2021. State-owned commercial banks accounted for about 60 per cent of total green credit, demonstrating a clear shift in lending portfolios towards environmentally friendly sectors.

However, it was acknowledged at the November 11 event that implementation still faces limitations. Some guiding documents remain inconsistent across agencies, while appraisal procedures for green projects lack uniform standards. Additionally, Vietnam still lacks specific regulations on environmental, social, and governance disclosure, making monitoring and transparency difficult.

According to Vietnam’s action plan for the circular economy towards 2035, the country aims to build a sustainable production and consumption system, and promote efficient resource use. The roadmap prioritises the 2025-2030 period to reduce resource extraction and increase resource efficiency, achieving indicators comparable with leading ASEAN countries. The goal for 2035 is to establish a comprehensive and competitive circular economy and position Vietnam as a regional innovation hub in related development. Key targets include reducing the exploitation and use of non-renewable resources and water resources; improving the efficiency of resource, material, and energy use; and achieving ASEAN-leading indicators in the efficient use of land, water, and minerals.

MoF Deputy Minister Nguyen Duc Tam

At the Sustainable Development 2025 Conference on November 27 in Hanoi, MoF Deputy Minister Nguyen Duc Tam said that Vietnam has proactively implemented extensive strategic reforms to adapt to evolving realities and pursue sustainable development.

The Party and the government are working to promote a new growth model with key priorities.

First, promoting the private sector by positioning it as one of the most important drivers of the economy, and creating a favourable environment for businesses to grow and innovate.

Second, fostering innovation and advancing science and technology by increasing investment in research and high-tech applications to enhance competitiveness and economic efficiency. This marks a pivotal breakthrough that enables the private sector to expand strongly and become a pillar of the economy.

Third, driving deeper structural transformation. Vietnam is implementing a development strategy based on the “four-pillar framework”, the priority orientations set by the Party and the government. Numerous resolutions have been issued by the Politburo to support economic development and help the country achieve double-digit growth in the coming years.

In addition, 2025 marks a significant milestone in Vietnam’s development history, a starting point for a new era, as the national administrative map undergoes major changes.

“Promoting digital transformation and green transformation is one of the ways the MoF affirms its position and role as a pioneering force in national economic reform and development,” the deputy minister said.

Accordingly, the MoF has been implementing sector-wide digital transformation, placing citizens and businesses at the centre. The MoF continues to accelerate innovation, develop the digital economy and digital finance in line with Resolution No.57-NQ/TW, aiming to build a modern, transparent, efficient, and highly adaptive finance sector based on digital technology and data, meeting the requirements of public financial management and the development of the digital economy and digital society.

“The MoF has consistently recognised science and technology as the foundation, innovation as the driver, digital infrastructure as the prerequisite, and data as a strategic resource,” he emphasised. Digital transformation must be linked with administrative reforms, ensuring that all sectoral databases, from taxation, treasury, customs, securities, state reserves, pricing, insurance, public debt, public assets, state capital in enterprises, shared electronic catalogues, financial-banking data, accounting and auditing, social insurance, public procurement, enterprises, public investment.

Alongside digital transformation, green transformation is a strategic priority that the Vietnamese government is steadfastly pursuing. Following the Prime Minister’s directives, the MoF has issued and implemented a green taxonomy, a crucial policy tool designed to identify, assess, and promote environmentally friendly projects.

The taxonomy includes 45 project types across seven key economic sectors such as renewable energy, green transport, sustainable construction, circular agriculture, and environmental services. “This marks a major step forward in establishing an institutional framework for the green finance market, helping mobilise domestic and international resources for sustainable development,” he said.

Since the beginning of the year, the total value of green bond issuance in the domestic market has increased by more than 60 per cent on-year, signifying investors’ strong confidence in the government’s and Vietnamese businesses’ green development commitments.

“Green transformation is not only a global requirement, but also an opportunity for Vietnamese enterprises to restructure development strategies, mitigate risks, improve energy efficiency, and expand their international market presence,” the MoF deputy minister noted.

Sustainable Development 2025 Conference with the theme “Motivators for a Sustainable Era”

However, both digital and green transformation face numerous challenges, including institutional barriers, financial constraints, technological infrastructure limitations, and workforce capacity. Many small- and medium-sized enterprises, which account for 97 per cent of all domestic businesses, still struggle to access green finance, new technologies, or digital data.

For this reason, the MoF, and relevant ministries and agencies, are working to improve the financial policy framework to provide stronger momentum for the private sector. “We are implementing tax incentives, preferential credit, and innovation support funds, while also studying public-private partnership mechanisms for digital infrastructure and renewable energy projects. These are concrete solutions aimed at encouraging businesses to invest, innovate, and actively participate in the dual transformation process,” he said.

In addition, the MoF continues to promote the development of the green finance market, the carbon market, and sustainable financial instruments. Our goal is that by 2030, Vietnam will establish an effective domestic carbon market connected with regional and global markets. This will be an important platform for Vietnamese enterprises to further integrate into global green supply chains and leverage domestic and international financial resources.

“Digital and green transformation are not two separate goals, but parallel processes that reinforce and complement each other. If digital transformation provides the technological foundation for efficient, transparent, and rapid governance, green transformation gives us a sustainable, humane, and future-oriented development pathway,” he said. “When combined, these two processes create powerful synergies that will enable Vietnam to advance confidently towards industrialisation, modernisation, and deeper global integration.”

“I firmly believe that with the strong political will of the Party and the state, combined with the efforts of the business community and the support of the people, we will successfully achieve this dual transformation, positioning Vietnam as a developed, green, digital, and prosperous nation.”

VIR to host forum on innovation-led sustainable development As Vietnam’s new growth drivers are increasingly shaped by the private sector, innovation, and science-technology, VIR is hosting a conference that will provide a platform for businesses to share implementation experiences and co-develop solutions that amplify sustainable value amid global volatility.

Circular economy becoming architectural foundation The circular economy is increasingly becoming a driving force and playing a central role in Vietnam’s dual transition towards digitalisation and green transformation, serving as an essential pathway to achieving sustainability goals.

Businesses key on Vietnam’s path to a digital and net-zero economy Sustainable Development 2025 Conference is taking place this morning (November 27) in Hanoi with the participation of more than 200 representatives, providing richer, more multidimensional perspectives on the responsibilities and actions needed to strengthen the resilience of enterprises and the economy.