Data - "new resource" for Vietnam to grow strongly

In the flow of global digital transformation, data is becoming a “new resource”, an important driving force for growth and innovation in development models. For Vietnam, this is not only an inevitable trend but also a “golden opportunity” to break through and build a knowledge-based, creative and high-value-added economy.

Data - the "lifeblood" of the digital economy

If we imagine the digital world as a living organism, then data is the blood that nourishes and connects the entire ecosystem. From weather forecasting, heart rate monitoring to consumer behavior or national governance, data is present in every activity of life.

Information technology infrastructure needs to be improved by investing in upgrading digital infrastructure, especially 5G networks, big data, cloud computing...

According to Dr. Nguyen Si Dung, former Deputy Head of the National Assembly Office: “Data development is not only an inevitable requirement of the times but also a historic opportunity for Vietnam to create an economy based on knowledge, innovation and high added value”.

Data, if properly exploited and connected, will be the “fuel” for smart systems to operate, the “raw bricks” to build the technological house of the future.

In the new era, data is considered the “oil of the 21st century”. But unlike oil, which has limited reserves, data is an endless resource; the more it is exploited, the more new value it creates. This opens up a breakthrough direction for developing countries like Vietnam. Instead of competing with cheap labor or raw resources, we can rise up with knowledge and technology.

According to General Secretary To Lam, data is the “air and light” of the digital age.

To make data truly valuable, Vietnam needs to build a modern, interconnected data infrastructure system that ensures safety and security. At the same time, raising social awareness, training high-quality human resources and perfecting the legal framework are key factors to creating a sustainable digital economy.

In this regard, General Secretary To Lam pointed out three core factors that need special attention: data quality, data connectivity and data security. This is not only a technical requirement, but as analyzed above, it is also a strategic requirement at the national level.

Along with that, the task of perfecting the legal corridor, enriching data, and proactively applying core technologies such as AI, big data, cloud computing, etc. are also identified as top priorities.

The Ministry of Public Security is also finalizing the Draft Law on Personal Data Protection, contributing to creating a solid legal foundation for the data ecosystem.

Data is the lever for socio-economics

Not only the State, but also businesses are facing the opportunity to make a breakthrough thanks to data. When shared legally and exploited effectively, data helps businesses grasp customer needs, optimize operations, develop personalized services and open up new business models in areas such as finance, logistics, e-commerce, healthcare, education, etc.

At the macro level, data also helps the Government improve management efficiency, forecast risks, and allocate resources more accurately and transparently. That is the foundation of a smart State that serves the people effectively and efficiently.

Data development is a historic opportunity for Vietnam to break through to become a digital nation and a prosperous digital economy.

Socially, data helps improve the quality of human resources. Learners can access knowledge without time and space constraints; and management agencies can regulate training in accordance with labor practices.

Vietnam has many advantages to break through in the data revolution. With a population of over 100 million people, most of whom are young people who love technology; digital infrastructure is being invested heavily; and clear political commitment from the Party and State - we are facing a promising "window of opportunity".

Major General Nguyen Ngoc Cuong, Director of the National Data Center and Executive Vice President of the National Data Association, emphasized: “Vietnam needs to quickly build data infrastructure, master processing technology and create data from all life activities so as not to fall behind in the global data competition.”

Data is not only a new means of production, but also a country’s soft power. If this opportunity is well exploited, data will become a strategic lever for Vietnam to rise strongly, standing shoulder to shoulder with the powers in the global digital economy.

Source: https://thoibaonganhang.vn/du-lieu-nguon-tai-nguyen-moide-viet-nam-vuon-len-manh-161953.html