DIGITAL ECONOMY APPROACHING WAY AND GENERAL INTRODUCTION

Abstract

This paper explores the concept of the digital economy as defined by the International Telecommunication Union (ITU). Following a comprehensive analysis, the discussion extends to examine the key drivers and challenges of digital economic development, with a particular emphasis on strategies to promote sustainable growth in this sector. The paper highlights the necessity of digitizing the economy as a fundamental step towards fully embracing the digital economy, which is understood as the economic domain encompassing digital goods and services. The article highlights Vietnam’s approach to the digital economy, as outlined in Decision 1354/QD-BTTTT, noting that it adopts a push policy approach. This approach is contrasted with the ITU’s perspective, and the article points out the difficulties in determining strategies, plans, and roadmaps for digital economic development within this framework. The article offers a comprehensive 360-degree perspective on the digital economy, including policy recommendations for Vietnam. It argues that the digital economy should not replace the traditional economy but should instead enhance its efficiency and effectiveness. This approach is proposed as a way to increase motivation for digital economic development in Vietnam