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Vietnam - Asia DX Summit 2025: Digital transformation supports private sector to break through
The Vietnam - Asia DX Summit 2025 takes place in Hanoi on May 27-28. (Photo: VNA)
The Poliburo’s Resolution 68-NQ/TW on private sector development features policies supporting micro- and small-sized enterprises and household businesses in digital transformation, a right move to help them adapt more quickly to this global trend, heard the Vietnam - Asia DX Summit 2025.
Under the resolution, the enterprises and household businesses will be provided with digital transformation tools free of charge such as shared accounting software, digital platforms, legal consulting services, and training in management, accounting, tax, and human resources.
Discussing at the event, organised by the Vietnam Software and Information Technology Services Association (VINASA) on May 27–28, participants said that this is a right policy that will help to reduce input costs, improve management capacity, and ensure legal compliance for small and household businesses.
Vietnam currently has about 1 million enterprises and more than 5 million household businesses. In Resolution 68, the country aims to have 2 million enterprises by 2030. Therefore, it is necessary to create conditions for business households to increase their scale and transform into enterprises.
Can Van Luc, a member of the Prime Minister's Policy Advisory Council, emphasised that Resolution 68 is considered a turning point in the development mindset as it not only affirms the key position and role of the private sector but also pledges to improve institution frameworks, remove barriers, and create conditions for this sector to make breakthroughs. Under the resolution, business households are encouraged to grow into enterprises through tax exemption and the provision of accounting and business management software, among others.
To realise this goal, Luc said it is necessary to classify small enterprises and business households into groups with appropriate support mechanisms.
Some businesses only need simple accounting software that is suitable for people who are not specialised in accounting or technology, so that they can easily enter data related to revenue, expenses, and goods. While some need training programmes to raise awareness and build digital transformation plans, others want mechanism and policy-related hurdles to be tackled, he pointed out.
Regarding a free shared software for small companies and business households, many participants perceived that comprehensive research and consideration is needed.
Nguyen Xuan Hoang, Vice Chairman of the Board of Directors of the MISA Joint Stock Company, said that during the process of digital transformation, Vietnam has built several shared models but they all failed. The reason is that when building shared software, state agencies organised bidding and selected a number of businesses to create those products and then provide them for free, which unintentionally created a monopoly.
Hoang analysed that the dependence on a few suppliers poses many risks, including data loss, poor service quality and high conversion costs when errors occur.
Using free software may also reduce businesses' motivation to proactively learn and exploit the features to the fullest because they lack initial financial investment and may use the software reluctantly.
Nguyen Viet Duc, CEO of the UNICA Solutions Joint Stock Company, said that small- and medium-sized enterprises need different software as they have very different usage and habits. Therefore, it is difficult to share a single software.
Hoang proposed that state agencies develop technical standards and provide direct financial support to end users. They can support small companies and business households through many other forms such as tax deductions to help them proactively choose suitable software, reduce cost burdens, and optimise digital transformation benefits.
Authorities should also issue preferential policies for domestic technology enterprises to develop innovative solutions that meet technical standards and diverse needs of small firms and business households./.
