Development of the digital economy in small and medium-sized businesses: the case of Vietnam

Publication type Article
Status Published
Affiliation: Kuban State University
Address: Russian Federation, Krasnodar
Occupation: Doctoral candidate, St. Petersburg State University; Associate Professor, Kuban State University
Affiliation: Saint Petersburg State University, Kuban State University
Address: 7-9, Universitetskaya nab., St. Petersburg, 199034, Russian Federation
Journal nameAsia and Africa Today
EditionIssue 3

The review article analyzes the features, directions and limitations of the digital transformation of small and medium-sized enterprises (SMEs) in Vietnam at the present stage. Currently, the country has a significant digital potential, which is poorly realized by SMEs, most of them using simpler digital tools and applications, as well as due to lack of experience and digital skills of personnel, they are limited in the wide application of the most promising supporting technologies of the digital economy (IoT, AI, cloud computing, etc.).


Special attention is paid to the identification of key incentives for the development of the digital economy in the country's SME sector, taking into account its specifics, as well as the opportunities that open up in the reality of COVID-19. The paper provides an overview of national strategies and programs aimed at activating the digital economy in SMEs. Possible directions are proposed and prospects for the digital transformation of SMEs within the framework of the export-oriented model of industrialization of the country based on FDI are considered.


The potential for the development of the digital economy in the SME sector is determined by a number of factors and conditions, including: the attractiveness of national startups for foreign capital; an educated young generation of managers who see digital technologies as the basis of their small and medium-sized companies ' business models; the speed and flexibility of SMEs in carrying out transformational digital changes in a number of industries and areas of activity; the rapid growth of Internet use and the implementation of digital tools - from online business and mobile applications to the development of digital platforms.

KeywordsVietnam, digital economy, small and medium-sized enterprises, digital technologies, digital transformation
AcknowledgmentThis article was supported by the Russian Foundation for Basic Research. Project No. 19-410-230060-r "Development of new approaches to diagnostics and forecasting the socio-economic development of small and medium-sized businesses in the Krasnodar Territory using artificial intelligence systems."
Publication date28.03.2021
Number of characters24970
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