Vietnam needs clear AI strategy amidst global uncertainty
A study forecasts that if leveraged fully in the economy, digital technologies can create up to VND1,733 trillion (equivalent to $74 billion) in annual economic value of Vietnam by 2030.
Amid the current political and economic polarization, Vietnam needs a clear strategy and vision to guide its strategic direction and position within the global AI value chain, which is continuously evolving, said a specialist.
Ms. Asma Mhalla, a French political scientist and AI expert, highlighted the point when arguing the the challenges of AI development Vietnam is facing within a global context.
Nevertheless, France and Vietnam possess unique strengths in AI development, which can be leveraged for mutual benefit and collaboration, especially in the context of Vietnam and France navigating a polarized global landscape, the French expert told a seminar on November 12.
The event, entitled “Innovation in Artificial Intelligence: A Breakthrough Opportunity for Vietnam?”, was jointly organized by the French Embassy in Vietnam, the French Institute in Vietnam, and BK Holdings under Hanoi University of Science and Technology.
The scientific seminar aimed to facilitate exchange of knowledge and practical lessons on AI and innovation between Vietnam and France, as the former strives to become an innovation-driven economy.
In his opening remarks, H.E. Olivier Brochet, French Ambassador to Vietnam, highlighted that the newly established comprehensive strategic partnership between Vietnam and France places innovation at the heart of their bilateral relations.
“In 2021, the Vietnamese government issued the National Strategy for AI development until 2030, focusing on research, development, and application. The goal is to place Vietnam among the top four countries in ASEAN and the top 50 globally by 2025 in AI research, development, and application. France can assist Vietnam in realizing these ambitions,” the ambassador said.
According to the World Intellectual Property Organization (WIPO), Vietnam ranked 44th in the Global Innovation Index (GII) in 2024. This underscores Vietnam’s efforts to advance its development as an innovation-driven economy.
Artificial intelligence is widely recognized as a key technology in achieving this goal. Vietnam has launched its national strategy for AI research, development, and application until 2030, aiming to “accelerate research, development, and application of AI, establishing it as a crucial technology sector for Vietnam in the context of the Fourth Industrial Revolution.” This will contribute to socio-economic development and position Vietnam as a leading hub for AI research, development, and application in the region and globally.
Explaining Vietnam's commitment to AI development, Mr. Do Tien Thinh from the National Innovation Center (NIC) under the Ministry of Planning and Investment highlighted that AI enhances competitiveness for Vietnamese businesses and boosts productivity in the public sector.
The technology holds immense potential for applications in various sectors in Vietnam, including healthcare, transportation, and disaster warning systems, said Mr. Thinh.
A study on Vietnam's digital economy conducted by Google in 2021 forecasted that if leveraged fully in the economy, digital technologies can create up to VND1,733 trillion (equivalent to $74 billion(*)) in annual economic value by 2030.
However, Vietnam also acknowledges the challenges posed by AI to its economy. AI will lead to the disappearance of certain industries and significant decline in others. Mr. Thinh cited examples like advertising companies in Vietnam reporting revenue decline as clients began using AI applications to create marketing videos themselves. AI can also compose songs and design structures independently.
(*)The conversion was based on the average exchange rate in 2020, sourced from the IMF Country Database, which was 1 USD = 23,243.6 VND.
