Vietnam’s digital economy to touch $39 billion in 2025

Vietnam’s digital economy to touch $39 billion in 2025

Vietnam’s digital economy will reach $39 billion by the end of 2025, with double-digit growth across all sectors, according to the e-Conomy SEA 2025 report by Google, Temasek, and Bain & Company.

Vietnam’s digital economy continues its upward trend as gross merchandise value (GMV) is projected to reach $39 billion in 2025, up from $34 billion in 2024.

E-commerce maintains its leading role, rising 17 per cent to $25 billion. Transport and food continues its trajectory as it jumps 20 per cent to $5 billion. Online travel is set to increase 16 per cent to $4 billion, while online media is expected to grow 16 per cent to $6 billion.

The report said Vietnam’s economy has demonstrated strong resilience, largely powered by a dynamic private sector. Primary growth engines are robust export growth, fuelled by significant foreign investment in manufacturing, and a double-digit expansion in domestic retail sales.

The State Bank of Vietnam has delivered crucial support in the form of a flexible monetary policy that has maintained macroeconomic stability, it added. The effective partnership between private-sector vigour and supportive governance has enabled the country to successfully navigate global economic headwinds.

As part of a national digital transformation agenda, Vietnam has rolled out electronic IDs for all residents and businesses, streamlining access to online public services. Banks have recently completed a comprehensive verification of all digital payment accounts, an initiative that has standardised customer information and significantly curbed fraud. The passage of new laws on digital technology and data provides fresh incentives for tech firms while establishing robust legal frameworks for digital assets, AI, and data usage.

Merchant adoption of cashless options and the growth of active e-wallet accounts to 30 million set off a surge in non-cash and VietQR payments in 2024, towards a target of 80 per cent cashless transactions in e-commerce by 2030. As of this year, QR payments in Vietnam are fully interoperable with those in Thailand and Cambodia, creating new potential for tourism and economic flows between the nations.

According to the report, Vietnamese users rank first in Southeast Asia for AI engagement and trust, leading in daily interactions and willingness to share data for personalised experiences. Some 81 per cent of Vietnamese respondents say they interact with AI tools and features every day, while nearly 60 per cent say they have conversations with and ask questions of AI chatbots. Meanwhile, half of users say they expect AI to make decisions faster and with less mental effort.

Vietnam’s video commerce market has sustainable foundations, as seller and transaction numbers grow in lockstep. In 2025, Vietnam is home to 650,000 video commerce sellers and stores, a surge of 60 per cent on-year. Meanwhile, transaction volume is expected to reach $1.3 billion, an increase of 60 per cent on-year.

The top 10 video commerce sellers per category drive 20 per cent of the total category. The average order value ranges between $5.50 and $7 per order. Fashion and accessories take the lead in video commerce GMV, followed by beauty and personal care, phone electronics, and everyday supplies.

VIR