Vietnam's e-commerce and digital economy remain highlights of the country’s socioeconomic development, with the internet economy to reach 36 billion USD this year, marking a 16% increase compared to 2023, heard a forum on digital transformation of industry and trade in 2024 in Hanoi on November 21.
Southeast Asian startups are enjoying a boom in fundraising exercises by venture and buyout funds that are looking for bigger returns and turning away from regulatory turmoil in Chinese markets, even at the risk of slower growth, reported Reuters news agency.
Vietnam's B2C retail e-commerce revenue this year is estimated at 16.4 billion USD, marking the first year to reach this landmark, reported the Vietnam E-Commerce White Book 2022.
The acceleration of digital transformation in Indonesia can be driven through four main sectors, namely digital infrastructure, digital government, digital economy, and digital society, according to the Ministry of Communication and Informatics.
The Vietnamese internet economy could reach 220 billion USD in Gross Merchandise Volume (GMV) by 2030, ranking second in Southeast Asia after Indonesia, according to the e-Conomy SEA 2021 Report recently published by Temasek, Google and management consulting firm Bain & Company.
Vietnam’s digital economy will likely reach 52 billion USD in value by 2025, according to the e-Conomy SEA 2019 report by Google, Temasek and Bain & Company.
Vietnam’s digital economy is expected to reach 43 billion USD by 2025, according to the e-Conomy Southeast Asia report from Google, Temasek and new partner Bain & Company.
Vietnam is jubilantly enjoying “the wheel of globalisation,” said Trinh Minh Anh, Chief of Office at the National Steering Committee on International Integration in Economy.
Indonesia will require big internet companies to pay value-added taxes (VAT) on sales of digital products and services from July as part of efforts to boost revenue amid the coronavirus pandemic, according to a tax official of the country.
Cashless payments would not only increase of the circulation of capital, it would also help boost the internet economy, said Deputy Prime Minister Vu Duc Dam.
Vietnam’s startup ecosystem could develop strongly over the next five years with venture capital and government assistance, Eddie Thai, general partner of the venture capital firm 500 Startups Vietnam, said at a Startup Viet Summit held on December 2 in HCM City.
Indonesia’s digital economy is forecast to reach 40 billion USD by the end of the year, according to the e-Conomy Southeast Asia (SEA) 2019 report compiled by Google, Temasek and Bain & Company.
The Southeast Asian internet economy has expanded by 39 percent this year to hit 100 billion USD for the first time, according to a recent report by Google, Temasek and new partner Bain & Company.
The past four years have seen a busy journey for the e-commerce market in Southeast Asia and Vietnamese e-commerce growth rate ranked second, just behind Indonesia, in the region, according to Google and Temasek.
The SOM Steering Committee on Economic and Technical Cooperation, along with several other APEC committees and groups will meet on August 25 as part of the third SOM Meeting.
Seven APEC committees and working groups held meetings on February 27 – the 10th day of the first APEC Senior Officials’ Meetings (SOM 1) and related events in Nha Trang city, Khanh Hoa province.
