DigiFrontiers Digital Technology Forum Explores Avenues for Vietnam-Australia Collaboration

Vietnam is widely recognized as the Southeast Asian nation experiencing the most rapid digital economy growth.

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On May 2nd, the Australia-Vietnam Young Leaders Dialogue Network organized a digital technology conference in Melbourne to establish guidelines for digital collaboration between Vietnam and Australia, according to VOV.

More than 160 representatives from government agencies, businesses, and organizations in both countries exchanged information on artificial intelligence, blockchain, cybersecurity, sustainable development, and education trends, emerging technologies, and development prospects.

Jonathan Saw, Australian Trade Commissioner in Vietnam, emphasized that Vietnam is a prospective market for Australian digital technology businesses, with an estimated digital economy value of between AUD 180 billion (USD 118.8 billion) and AUD 300 billion (USD 198 billion).

He underlined that the country has the fastest growing digital economy in Southeast Asia, providing Australian technology companies with substantial opportunities to participate in the country’s ongoing digitalization process, particularly in fields such as cybersecurity, financial technology, agricultural technology, educational technology, smart cities, and infrastructure.

An overview of the forum.

Tran Van Binh, chief of the Operations Management Office of the National Center for Innovative Startup Support, stated that Vietnam is concentrating on growing its digital economy and facilitating operations for businesses operating in innovation and digital technology.

He continued by saying that the event had given policymakers, businesses, and experts a perfect setting to investigate strategies to strengthen ties between the two countries’ innovation ecosystems and to strengthen ties in the digital industry going forward.

Representatives from the Vietnam Blockchain Association and the Australian Blockchain Association signed a memorandum of understanding on future cooperation during the event.

Hoang Minh Loi, Deputy Director of Financial Technology Applications at the Vietnam Blockchain Association, highlighted the development of the fintech industry in Australia, citing the use of blockchain technology by major Australian banks like CPA and NAB, particularly in cross-border money transfers through the Crypto XITnetwork. He expressed hope that this will enable Vietnamese businesses to access blockchain-based technologies that can be used in the Australian market, such as small business investment and financial management.

The Australia-Vietnam Young Leadership Dialogue (AVYLD) is a cross-border non-profit effort supported by the ASEAN-Australia Council and other partners through the Australian government. The mission of the dialogue is to cultivate relationships, foster engagement, and foster collaboration between young leaders from Australia and Vietnam from various walks of life.

The first AVYLD was held in Sydney, Australia, in May 2017. Approximately 20 delegates between the ages of 25 and 35 from Australia and Vietnam attended, along with numerous speakers and partners from various sectors, including business, education, policy, the arts, and non-profits.

Hannah Nguyen