Speeding up digital economic transformation for small and medium enterprises in Vietnam

Abstract

Compared with other countries in the region and the world, small and medium enterprises (SMEs) in Vietnam still have many limitations: The major of SMEs are doing in field of services, a few SMEs take part in production activities; small annual revenue, slow growth, a rising toll of bankruptcy; access to official resources remains limited ... In the wave of the industrial revolution 4.0 and the impact of the transition to the digital economy, this kind of enterprise faces many challenges and seems to be lagging behind compared to large enterprises, state owned enterprises or the foreigninvested business sector, requires urgen solutions for SMEs to catch up with the recent development trends. Based on the synthesis and analysis, the article aims to clarify the role of digital economic development SMEs in Vietnam, point out the challenges, thereby introduce solutions to promote transforming the digital economy for SMEs in Vietnam in the future.