Vietnam holds huge potential to develop digital economy
Vietnam is emerging as a country with great potential to develop digital economy, as it has more than 58 million internet users out of its 90 million people and the over 125 million mobile subscribers.
Hanoi (VNA) – Vietnam is emerging as a country with great potential todevelop digital economy, as it has more than 58 million internet users out ofits 90 million people and the over 125 million mobile subscribers.
Digitalisation is present in almost allfields in Vietnam, replacing traditional business models, from businessregistration and electronic invoicing, to online retail, property and banking.
More start-up companies are beingestablished in Vietnam and many have achieved impressive business results ine-commerce, QR code payment, electronic wallet and e-banking solutions.
A report of the Vietnam E-CommerceAssociation showed that 2017 was a booming year of the Vietnamese e-commercesector when its revenue exceeded 2 billion USD, a twofold increase over theprevious year. The figure is forecast to hit 5 billion USD by 2020.
However, e-commerce accounted for only 3.6percent of total retail sales, lower than the average rate of 14.5 percent inthe Asia-Pacific region.
The Vietnam Chamber of Commerce and Industrysaid that along with opportunities, the digital economy also creates a lot ofchallenges for Vietnamese enterprises.
The first challenge is the strong presenceof foreign enterprises in many industries of the Vietnamese economy. Theinfluence of foreign technology firms such as Facebook, Google and Microsoft onVietnamese society is enormous.
Meanwhile, the high costs of IT equipment andpoor logistics services compared with regional countries are also preventingmany Vietnamese enterprises from expanding into the digital economy.
In addition, most Vietnamese consumers stilllack trust in online shopping.
Deputy Minister of Science and TecgnologyBui The Duy advised businesses to consider their business strategy and capacitywhen they want to digitise their operation.
Digital transformation does not mean buyingsoftware and hardware but concerns how to change the business model and adaptto technological transformation. Therefore, each company should have their ownway of transformation that best suits their conditions, he added.-VNA
Vietnamese agencies, businesses and organisations are constantly innovating and experimenting with the latest technologies, making every effort to keep themselves up-to-date.
The Thai Ministry of Digital Economy and Society is expediting five important projects after the government approved two-billion-baht budget to finance them with a focus on the expansion of high-speed Internet to remote areas.
Although logistics and e-commerce in Vietnam is booming, the two sectors have been hamstrung by a lack of linkages between them, said Tran Thanh Hai, Deputy Director of the Import-Export Department under the Ministry of Industry and Trade.
A workshop on Cross-border Data Flows took place in Hanoi on May 3 to discuss the importance of data access and sharing and the need to develop a legal framework on data management to boost the growth of digital economy.
VietNEST (Vietnamese Nurturing Education for Science & Traditions) is a mobile app and digital platform for Vietnamese language learning among overseas children.
The networks bring together universities, research institutes and domestic and foreign businesses. Members will work closely in training, research, and technology transfer by sharing curricula, improving faculty capacity, providing access to laboratories and research facilities, and jointly implementing science and technology projects.
The Better Choice Awards (BCA) 2025 is a key highlight in the lead-up to Vietnam Innovation Day that falls on October 1, an annual event expected to attract hundreds of innovative enterprises, research institutions, investment funds, and startups from both Vietnam and abroad.
The new line serves as a critical backup route, strategically complementing existing submarine cables and enhancing the resilience, proactivity, and security of Vietnam’s telecommunications infrastructure.
Vietnam is actively yet cautiously preparing for the construction of its first nuclear power plant in Ninh Thuan (now the south-central coastal province of Khanh Hoa). The resumption of the programme after years of suspension carries considerable significance for the nation’s development in a new era as it strives to gradually reduce and ultimately phase out coal-fired power to realise the Government’s commitment to Net Zero by 2050.
The government leader reaffirmed Vietnam’s goal of achieving self-reliance in the design, manufacturing, and test of necessary semiconductor chips by no later than 2027.
With the launching of its two-tier local administration model, the city is incorporating technologies such as artificial intelligence (AI) and blockchain to enhance service delivery for citizens and businesses, aligning with the Politburo’s Resolution 57-NQ/TW on breakthroughs in science, technology, innovation, and national digital transformation.
Vietnam has issued many key policies to support semiconductor development, notably the Politburo’s Resolution 57 on science, technology, innovation, and digital transformation. Other initiatives include the Semiconductor Industry Development Strategy to 2030, with a vision to 2050, and the Human Resources Development Programme for the Semiconductor Industry.
Vietnam is no longer just an emerging blockchain market, it is stepping into a leadership role, with global investors, developers, and experts recognising its growing potential to become a leading hub for digital assets in the region.
Taking place on August 1–2, the event features more than 20,000 attendees and over 200 speakers from Vietnam, the h Korea, Singapore, the UAE, Hong Kong (China) and the US.
Dung directed the Ministry of Science and Technology to revise the national startup scheme, ensuring it clearly defines the scope and content, grounded on strong political and legal foundations, international best practices, and well-reasoned arguments for submission to the Government.
The two-day academic forum, themed “Resilience, Sustainability & Digital Transformation in a Changing World: Perspectives from Southeast Asia”, aims to share interdisciplinary research insights, focusing on adaptive capacity, sustainable development, and digital transformation amid evolving global and regional landscapes.
With such a rapid economic growth, Vietnam must diversify energy sources and nuclear power is a rational choice to ensure the national energy security, said Associate Professor Kei Koga from the Nanyang Technological University (Singapore).
Deputy Prime Minister Nguyen Chi Dung emphasised that Vietnam has a clear strategy and ambition in this field, and is rapidly emerging as a central hub and key link in the regional and global semiconductor value chains.
According to Cushman & Wakefield’s latest Asia-Pacific Data Centre Investment Landscape report, Vietnam now ranks second in the region for data centre investment returns, with a yield on cost (YoC) of 17.5–18.8%, just behind Singapore’s 21–23%.
Vietnam is taking drastic yet cautious steps in building a culture of nuclear safety and security, with the aim of having its first nuclear power plant operational by the end of 2030 and using this specific energy source effectively and sustainably.
Vietnam’s 5G strategy has been clearly outlined in national digital technology and infrastructure policies. A wide range of solutions is being vigorously implemented to achieve the target of an average internet speed of 100 Mbps by 2025 and full nationwide 5G coverage by 2030.
The visit aimed to assess the new two-tier local government model, preparations for upcoming Party congresses at levels, and implementation of the Politburo’s Conclusion on school construction in border areas.
Under the theme “Breakthrough Era with the Development of Industrial Internet”, the event gathered over 400 delegates, including senior officials, leading Internet experts, and technology engineers from Vietnam and abroad.
Illustrative photo (Photo: internet) 
