Young people to be main factor in digital economy

15:41 | 29/10/2021 Science - Technology

Young people are considered to play a center role in the digital transformation in Vietnam. However, they are still facing many challenges such as legal issues, cyber security, and ensuring user privacy.

Active factor in digital economy

With a population of nearly 100 million people, Vietnam is considered as one of the countries with a good digital economy development rate in the ASEAN region. Vietnam has recorded the emergence of digitization trends in many fields and economic sectors, from commerce and payment to transportation, education, and healthcare. In addition, the e-commerce market is also growing. Vietnam's online advertising market is growing rapidly and the size of Vietnam's online advertising market is also increasing rapidly. The percentage of people using the Internet through smartphones is high and Vietnamese people are also classified as people who like technology. Vietnam proceed good conditions for a thriving digital economy. The Internet has become an essential part of commercial and service industries such as banking, transportation, and healthcare. It is estimated that the contribution of the Internet is about 2-3 percent of Vietnam's gross domestic product (GDP) and is forecast to increase to 40-50 percent of GDP in the future.

In any country, young people are always the most important force in the construction and development of the country. During the digital economy era, along with the development of the fourth industrial revolution (Industry 4.0) and the applications it brings, the role of young people becomes essential while the digital economy requires a high level of education that is more agile to capture and master new advantages, able to combine knowledge, skills and attitudes creatively, ready to adapt to innovations. It can be said that Vietnamese youth are the force that can turn the country's economy around by grasping the best and participating in timely promotion to help Vietnam really move faster in the coming decades.

According to 2020 statistics, Vietnam had about 22.609 million people aged from 16 to 30, accounting for about 23.2 percent of the country's population. Young people are placed at the center of the country’s strategy of fostering and promoting human factors and resources, and are given all stable conditions for development, study and training for Vietnamese youth to prepare and approach the fourth industrial revolution, making good use of opportunities from the digital economy based on science, technology and innovation.


However, the boom of digital economy has also put in front many challenges for young people, including legal issues, cyber security, and ensuring user privacy. The main challenges for digital workers are working conditions, regularity of work and income, and lack of access to social security.

Many businesses face challenges related to unfair competition, lack of data and pricing transparency, and high commission fees. Small and medium enterprises (SMEs) also encounter difficulties in accessing finance and digital infrastructure. Businesses in the developed world outsource work on online platforms on the web. These jobs are often performed by workers in developing countries, and they often earn less than workers in the same jobs in developed countries. This uneven growth of the digital economy causes digital divides and risks increasing inequality.

young people to be main factor in digital economy
Five students from Hanoi-Amsterdam High School win the first prize of the WICO international innovation competition with the adaptive street light system

In general, regardless of industry, the trend of the world in the coming years is also to integrate digital technologies into production to meet the maximum needs of customers. In order for the digital economy to become a "breakthrough" opportunity for Vietnam, according to experts, Vietnamese youth need to focus on their position and duties in the development of the country. Being aware of this will help each young person always carry the fire of conquering knowledge, grasping new trends, taking advantage of the fourth industrial revolution, and applying it to develop digital economy in Vietnam. At the same time, they need to integrate actively with the world and to be willing in order to absorb global knowledge and apply creatively to contribute to the development of the country in the most appropriate way. Therefore, they need to be proactive and willing to participate in startup movements and explore and develop startup ideas on the basis of interdisciplinary science (combining economics with technology and creative innovation).

Morover, young people should update new trends, observe and choose new careers, new fields to help develop the digital economy in Vietnam in line with trends. Young people are taking advantage when participating and interacting with digital economy, including digital content, digital platforms as well as digital services. A number of new job forms have emerged that have complemented traditional forms of content creation, some of the job opportunities of young people in digital economy are: Business, start-up, video, blogging, photography, art, design, music, video games…

They should also proactive in choosing a career, studying in accordance with their capacity and forte to avoid the situation of working in the wrong professional training, causing waste of time and social resources. Young people with passion and love for technological fields of Industry 4.0 are being prioritized by the state for development such as artificial intelligence, big data, cloud computing, internet of things, virtual reality, and 3D printing.

In addition, Vietnamese young people boldly propose ideas, but also need to be equipped with knowledge and understanding of how digital economy operates and rules, such as intellectual property, to protect key rights and interests, avoid being exploited on social networking platforms, and avoid unintentionally breaking laws according to domestic and international standards.

Nguyen Huu Minh Tung