The Executive Yuan Organisation Reform Act was passed by the Legislative Yuan, and the Ministry of Science and Technology officially initiated Organisational adjustment, transforming it into a “National Science and Technology Commission”. Its Organisational positioning is similar to that of the National Development Commission.
The policy coordinates Taiwan’s digital development and industrial innovation and cooperates with the Ministry of Digital Development, the Ministry of Economic Affairs, the Ministry of Health and Welfare, the Agricultural Commission, and the Ministry of Culture, etc., to lead Taiwan’s software and hardware integration and innovation in the form of cross-ministerial associations and cross-industry-university-research institutes.
Resources improve the implementation and management of science and technology policies, and the responsibility of accumulating technology and talents, we hope to join hands with various ministries and associations and all sectors of industry, academia and research to improve and lead the country’s future scientific and technological development.
After the transformation of the National Science and Technology Commission (hereinafter referred to as the new National Science and Technology Commission). Unlike the old National Science Association which focused on the energy construction at the upstream end, the new National Science Association connects the technological development and industrial application of the upstream, midstream and downstream.
The establishment of the “National Science and Technology Committee” will be more conducive to deepening basic research and connecting upstream, midstream and downstream technological development and industrial applications, leading various ministries to conduct forward-looking research on science and technology, focusing on supporting my country’s strategic layout, promoting social innovation, and cooperating Formulate policies to promote the cultivation, recruitment and retention of talents, and work together to develop the scientific research and industrial innovation ecosystem.
Different from the limitations of the Ministry of Science and Technology in terms of communication and coordination, the new National Science and Technology Association, at the height of the Executive Yuan, fully exerts the coordination function of cross-regional and cross-ministerial associations and concentrates the powers and responsibilities of scientific and technological development affairs.
In order to strengthen the communication and connection between the upper, middle and lower reaches of inter-ministerial committees and cross-fields, and comprehensively plan the development strategy of science and technology, the “National Science and Technology Commission” will introduce across regional participation mechanism, gather the heads of agencies and scholars in various fields, experts, to create an organisation that surpasses the position of ministries and committees.
The commission has clear inter-ministerial communication and coordination functions and responsibilities, elevates the decision-making of science and technology policy to the level of the Executive Yuan, strengthens the integration ability of China’s science and technology research and development, and maintains and enhances China’s international competition force.
The new National Science Council will effectively assist the Executive Yuan in grasping the scientific and technological resources of all ministries, properly allocate scientific and technological funds and optimise the use efficiency. The “National Science and Technology Commission” will increase its responsibilities for planning, coordinating, reviewing, resource allocation, and management assessment for the country’s overall scientific development, technology research and application.
More than 463,000 people have used Mobile Money as of 11 February, over one month after the Viettel Military Industry and Telecoms Group (Viettel) and the Vietnam Posts and Telecommunications Group (VNPT) launched the cashless payment service, according to data from the Ministry of Information and Communications (MIC).
So far, 77,200 establishments have accepted the payment method nationwide, the Ministry has stated. To popularise the service to the public, Viettel has set up 80,000 points to provide consultations and support customers in registering and using the service. Mobile Money is expected to be a push towards cashless payment in Vietnam, a country where only 50% of the population has a bank account, and most people pay for goods valued at less than VND100,000 VND (US$4.41) by cash.
The development of Mobile Money will help promote digital transformation and expand the use of cashless payment services to most people, especially those in remote, mountainous, and rural areas. The Ministry will build mechanisms to promote, manage and supervise the deployment of Mobile Money services this year. It will also continue to encourage telecom service operators to transform telecommunications infrastructure into digital infrastructure, which will significantly contribute to developing e-government, the digital economy, and digital society.
The country’s telecom market currently has about 126.3 million subscribers, of which the three largest carriers and those licensed to pilot Mobile Money account for more than 97% of the market share. A Viettel representative said the fact that all three operators are licensed to pilot Mobile Money will help increase the coverage of the service. Many people still do not have access to digital payments and digital finance is a huge space. Viettel has built and accumulated the digital financial ecosystem for more than ten years.
The organisation hopes that the Mobile Money service will contribute to the development of a comprehensive financial system in Vietnam and the goal of making non-cash payments a habit of the people. Additionally, it expects that people who have never had access to bank accounts, digital payment electronic services could access this type of digital payment more easily, improving knowledge and bringing digital utilities to change lives.
The COVID-19 pandemic has greatly boosted the e-commerce market, with non-cash payments accounting for 70% of total retail transactions in Vietnam last year. According to a survey of 15,000 retailers, cashless payments in 2021 made up 72.8% of total transactions, up 9% year-on-year. As OpenGov Asia explained, payments through bank accounts became the most popular method, accounting for 36.5% of total transactions at retail shops, restaurants, and cafés followed by cash (29.8%), e-wallets (14.8%), QR code (9.9%), bank cards (8.5%), and payment gateways (0.5%).
Notably, 89.3% of retailers have positive assessments on non-cash payments, considering them a trend at present and in the future. New cashless payment tools are expected to be launched in the time to come to reduce difficulties that retailers currently face. The regional e-commerce market reported a 24-fold increase over the last six years, from US$5 billion in 2015 to US$120 billion in 2021. It is forecast to reach US$234 billion in 2025.
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