Vietnam's Digital Economy on the Rise

According to the latest e-Conomy Southeast Asia report by Google, Temasek, and Bain & Company, Vietnam's digital economy is projected to reach $36 billion by 2024. This growth is largely driven by the robust expansion of the country's retail e-commerce sector, which contributed $22 billion to the GDP in 2021, marking an 18% increase from the previous year.

The report highlights that Vietnam's digital economy is expected to maintain its high growth rate, fueled by the country's strong manufacturing, processing, and export sectors. By 2030, the Gross Merchandise Value (GMV) is anticipated to range between $90 billion and $200 billion, reflecting the continuous expansion of Vietnam's digital and e-commerce markets.

With such promising growth, Vietnam's e-commerce and digital economy are poised for even stronger development in the coming years, becoming one of the key drivers of economic growth. This period presents a critical opportunity to establish new models and strategies, leveraging digital technologies to enhance the competitiveness and resilience of businesses and organizations.

Tran Minh Tuan, Director of the Department of Digital Economy and Digital Society under the Ministry of Information and Communications, emphasized that with a market of 100 million people, accounting for 1.23% of the world population, Vietnam's potential for e-commerce development remains substantial.