Vietnam takes lead in internet economy in SEA

Vietnam takes the lead and set to post a 31% growth in gross merchandise value (GMV) from 23 billion USD in 2022 to 49 billion USD in 2025, according to the latest "e-economy SEA 2022" report released by Google, Temasek and Bain & Company.

The report said South East Asia’s top six digital economies, including Vietnam, grew faster than expected in 2022 and is set to reach 200 billion USD in total value of transactions made this year.

Southeast Asia continues to see growth in the number of internet users, with 20 million new users added in 2022, raising the total number of users to 460 million.

“E-commerce continues to accelerate, food delivery and online media are returning to pre-pandemic growth levels, while travel and transport recovery to pre-COVID levels will take time,” the report said.

Another growth driver, digital financial services, which includes payments, remittances, lending, investments and insurance, have seen healthy growth from 2021 to 2022, thanks to offline-to-online behavior shifts post-pandemic, wrote the report./.