In his remarks at the Da Nang Department of Information and Communications-hosted seminar on boosting digital transformation in the financial and banking sector on Tuesday, municipal People’s Committee Vice Chairman Tran Phuoc Son said the digital economy was increasingly becoming a special feature and an important development trend that many countries worldwide, including Viet Nam, have been conducting research and developed.

Vice Chairman Son added Da Nang was one of the country’s cities boasting developed information technology. This is a prerequisite factor for promoting the development of financial technology and digital technology activities in the financial sector.

In addition, the city has issued a number of preferential policies for both domestic and foreign investors investing into the field of information technology and communications, and the training of human resources for this industry. Also, the city has always facilitated for units to conduct research and develop technology applications in the city’s socio-economic fields.

Over the past time, the city has issued important policies to promote digital transformation, specifically a project on digital transformation in the city by 2025, with a vision towards 2030, including many targets set for in the fields of finance - banking, and e-commerce. The project is identified as one of the motivational projects for the city development.

Mr. Son, therefore, highlighted the necessity of the seminar in helping the city get more consultations from experts and scientists in the process of concretising major undertakings and policies in the coming time.

During the event, participating experts shared information on digital transformation in banks; and current status and trends in the field of digital finance.

According to Deputy Director of the municipal Department of Information and Communications Tran Ngoc Thach, the aforementioned project identified 67 targets, of which 6 are in the finance - banking field.

Specifically, the proportion of the digital economy in the fields of finance - banking and e-commerce will be 20% by 2025 and 30% by 2030. The rate of enterprises having their own e-commerce accounts and using non-cash payment in e-commerce will be 90% by 2025 and 100% by 2030.

The proportion of population participating in online shopping will be 50% by 2025 and 80% by 2030. Meanwhile, e-commerce sales between companies and consumers (B2C) are likely to account for 10% by 2025 and 30% by 2030 of the city's total retail sales of consumer goods and services.

Also, by 2025, 100% of people aged 15 and over will have transaction accounts at banks or other authorised organisations, and all enterprises will use e-invoices

Reporting by M.QUE - Translating by M.DUNG