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Vietnam’s Digital Renaissance

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Vietnam's Digital Renaissance

The rapid economic expansion in Vietnam has started growing in the technology sector.

It is not only in the IT arena but also seen with the development of new software and technology, artificial intelligence, and much more.

On the other side, a growing percentage of the population is using cryptocurrency and Fintech, which states updating the population regarding digital technologies.

Fast growth is shown in the 2018 numbers, where only one percent of the population used cryptocurrencies.

However, in 2021 the number of people that used cryptocurrency rose to 6 million Vietnamese, nearly 6.1% of the population.

Currently, the justice ministry is trying to regulate cryptocurrency transactions.

Technological advancements have influenced other areas like traveling as well.

Flights are more available and cheaper than ever before, so the time it takes to reach a destination is shorter..

It’s not a secret to anyone that there will be some requirements, but even those are easy to fulfill nowadays because of the tools available to us through digital platforms.

We found a great site that allows you to do it without complications and from the comfort of where you sit.

Check out hundreds of users’ comments that tell you about their experience applying for their visa or other travel documents with **iVisa**.

Their team of experts will give you all the information you need before leaving for Vietnam as well as all you need to do to apply for your [Vietnam eVisa].

Their simplified form will allow you to apply by following three simple steps. Just answer a few simple questions, and you’re on your way to getting your visa.

Another cool thing they have is that an iVisa expert will be assigned to guide you through the entire process of getting **Vietnam eVisa**, and [having your photo taken] without having to look for a professional photography studio.

Something convenient to have when prepping your travels abroad, so be sure to examine it.

Regarding Fintech, it was estimated that there would be USD 7.8 Billion in revenue for the year 2020, but this number wasn’t only achieved.

It rose to USD 8.6 Billion in revenue by 2021, with 188 companies operating in this sector that offer from Blockchain-based to digital payments.

Progressively, more technology giants are investing in Vietnam’s IT development because of the low cost of living and operation.

This is one of the reasons software outsourcing in Vietnam is a massive industry.  There are very few countries in the world that can offer such high-quality IT services at an affordable price, and this is attracting investment from multiple countries, most notably, the United States, Singapore, Australia, and Japan.

Human resources are more and more capable of adapting. This is due to having a very high percentage of the population young and ready to be incorporated into the new ways of living and working.

Vietnamese startups like Ami, which distributes diverse software products, or DropDeck, which implements special algorithms to classify the performance of employees and connect investors with startups.

Of course, companies in the IT and AI arenas have many advantages when investing in Vietnam, like tax reduction or even exemption for up to four years.

Regarding telecommunications and 5G technology, the sector was worth USD 15 billion in 2019, and the number of users connected to the internet increased by 10% in 2020.

Vietnam is developing 5G networks, as stated in the agreements with the rest of the ASEAN countries, to develop 5G technology. Additionally, it supplies other Asian countries with Vietnamese equipment.

Seeing the Vietnamese government’s full support for all these technological advances makes this more exciting.

The green light became evident in 2012, when the government launched a plan of scientific and technical development, as well as having eventually formed a Ministry of Information and Communication to supervise all the previously mentioned sectors.

Most of the governmental decisions are made in the vision of the fourth industrial revolution that is taking place around the globe and aiming to position Vietnam as one of the leading players shortly.

Whether it’s to invest, find work in the digital world, or just go on an amazing tourist trip, considering Vietnam your next destination is an excellent option.

The country has the perfect conditions to give ex-pats and digital nomads everything they need to enjoy a calm city, a robust technological infrastructure that allows them to work efficiently, and a cost of living friendly to every budget out there.

For travelers who like to grow and see new things when they travel and to be at the forefront of the businesses that are moving the world, this is the ideal place to be.

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