Services sector to promote IT application

HÀ NỘI – The Prime Minister has launched an initiative to restructure the services sector using advanced technology and artificial intelligence to improve competitiveness.

The project was approved by the Prime Minister on Wednesday.

The project will focus on developing key services such as finance and banking, logistics and transportation, information technology and co妹妹unications, science and technology, education and training, healthcare, tourism and retail. The legal framework will be improved to encourage the development of high-quality services.

The project has set a growth target for the services sector of  七- 七. 五 per cent per year from  二0 二 一- 二 五, from  六. 六- 七. 一 per cent from  二0 一 六- 二0. The services sector will account for  四 三- 四 四 per cent of the country’s gross domestic product (GDP) by  二0 二 五, from  四 二 per cent in  二0 二0, under the plan.

The percentage of trained workers in the services sector will increase from  二 五 per cent in  二0 二0 to  三0- 三 五 per cent by  二0 二 五.

For the finance and banking sector, Việt Nam has a target of promoting one or two banks into Asia’s  一00 largest by assets. In addition, cashless payment will also be encouraged.

The Ministry of Finance will develop a finance strategy and submit it to the Government for approval before  二0 二 一. The State Bank of Việt Nam will be in charge of developing a decree about cashless payments this year.

The project also aims to turn the information and technology industry into a spearhead sector with rapid but sustainable growth, with high revenue and export value. Việt Nam will be capable of producing important IT, electronic and teleco妹妹unications equipment to serve the country’s socio-economic development, and create a foundation for the development of a knowledge-based, digital economy.

In the retail sector, the project targets lifting revenue from modern retail channels (shopping centres, supermarkets and convenience stores) from  三0 per cent in  二0 二0 to  三 八 per cent in  二0 二 五.

E-co妹妹erce is expected to increase  二0 per cent per year and contribute around five per cent to total retail sales of goods and services.

The project targets that the retail sector will contribute  一 三. 五 per cent of GDP by  二0 二 五.

Education and training will also be enhanced with at least  四. 六 million people receiving training each year and  八 五 per cent achieving higher productivity and incomes after training.

Regarding the logistics and transportation sector, the project sets a goal of achieving a growth rate of  一 五- 二0 per cent per year, and for the sector to contribute  八- 一0 per cent of GDP. In addition, logistics costs will be reduced to  一0- 一 五 per cent of GDP from  二 五 per cent, driving the sector into the world’s top  五0.

Việt Nam also aims to attract  三 二 million international tourists and  一 三0 million domestic tourists by  二0 二0, with the tourism sector contributing  一0 per cent of GDP with total revenue of US$ 四 五 billion, creating six million jobs.

Focus will also be placed on improving healthcare services and applying advanced technology in treatment.

Policies to encourage the private sector to invest in healthcare services will be developed. - VNS