Blockchain technology creates new strides in building digital economy
Blockchain could play an important role in building the digital economy and improving the efficiency of some fields that Vietnam is still weak such as logistics services and product origin trace.
Dang Hoang Hai, director of Vietnam E-Commerce and Digital Economy Agency (VECITA) under the Ministry of Industry and Trade (Photo: VNA)
Hanoi (VNA) – Blockchain could play animportant role in building the digital economy and improving the efficiency ofsome fields that Vietnam is still weak such as logistics services and product origintrace.
The technology is also able to back the buildingof an e-government in Vietnam, said Dang Hoang Hai, director of VietnamE-Commerce and Digital Economy Agency (VECITA) under the Ministry of Industryand Trade, at the Vietnam Blockchain Summit 2018 in Hanoi on June 8.
A block chain is a continuously growing list ofrecords, called blocks, which are linked and secured using cryptography, thuseffectively preventing data modifications, he said.
Director of the Infinity Blockchain Lab (IBL) DoVan Long said blockchain is designed to withstand data changes.
Blockchain is expected to create socio-economicbreakthroughs, transactional and data-related activities that requiretransparency, information sharing and security, he said.
It could be applied in various fields such aslogistics services, trace of origin of products, and the building of the e-government.
Production, processing and distributionfacilities as well as State agencies and organisations involving in agro-foodproduction and trading in Vietnam should tap potential of this technology todevelop effectively in the future, he suggested.
According to analysts, the global blockchaintechnology market in 2024 is expected to increase 70 times compared to 2015’swith a value of up to 20 billion USD.
By 2025, up to 10 percent of global GDP will bestored on blockchain platforms.
Vietnam isnow one of the fastest-growing economies, fuelled by growing young populationwith a high rate of smart phone usage and large batches of IT graduates eachyear. In Southeast Asia, Vietnam has been dubbed “the Blockchain country towatch” thanks to the country’s high-tech literacy and abundant engineeringresources.
Some businesses such as Viettel, Napas, and TMA Solutions are deployingresearch teams or implementing blockchain trial projects.
The Government has also issued a decisionapproving the scheme on completing the legal framework for managing virtualproperty, electronic currencies and virtual currencies.-VNA
Blockchain, a new technology to help explore the various forms of crypto-currencies, could open up new attractive environment for all businesses and investors, said Nguyen Duc Cuong, head of consultancy division at Vietstock – a local financial-business media.
The development of Blockchain technology in the digital era requires new cooperation and business approaches and expertise from both local and international specialists to mitigate the risks it poses.
A press conference took place in Hanoi on May 28 to introduce the Vietnam Blockchain Summit, themed “from technology to policy”, which was slated for June 8
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Dang Hoang Hai, director of Vietnam E-Commerce and Digital Economy Agency (VECITA) under the Ministry of Industry and Trade (Photo: VNA) 
