AI set to drive growth in Vietnam's digital economy

Vietnam's digital economy is projected to grow 11-fold by 2030, reaching 220 billion USD, nearly half of the country's current gross domestic product (GDP).

This forecast was shared at the launch of the Build for the AI Future initiative by Marc Woo, Managing Director of Google Vietnam, Google Asia Pacific, who stressed that artificial intelligence (AI) will be a crucial factor in realising this projection.

According to Vietnamese Deputy Minister of Planning and Investment Tran Duy Dong, the implementation of the national strategy for AI research, development, and application until 2030 has yielded promising results. Vietnam ranked 55th in the world on the AI Readiness Index in 2022, up seven positions from 2021.

However, there are currently only about 300 AI specialists in the local workforce. This shortage, coupled with limited access to high-quality training programmes, exacerbates the gap between market demand and available human resources. AI startups in Vietnam also face challenges such as limited access to experts and advisors, as well as insufficient infrastructure, platforms, and tools.

To address these challenges, the initiative focuses on the two pillars of talent development and business innovation.

The first pillar includes a digital talent development programme offering 40,000 scholarships across 10 courses, including the newly launched Google AI Essentials. It aims to equip the younger generation in Vietnam, including many faculties, staff, and students from over 80 universities and colleges nationwide, with the latest AI skills.

The second pillar seeks to drive innovation and develop solutions for local startups through Google for Startups Accelerator. It will provide business knowledge for the startup ecosystem, helping promising AI startups develop, commercialise, and expand their products into new markets.

Deputy Minister of Planning and Investment Tran Duy Dong affirmed that the initiative represents a strong commitment and support from the ministry and Google to advance Vietnam's AI ecosystem. It aims to equip the workforce with essential skills to seize opportunities in the AI era and assist innovative startups based on AI technology./.