Vietnam’s digital economy estimated at 36 billion USD in 2024

Vietnam’s digital economy is projected to reach 36 billion USD in 2024, up 16% from the previous year, according to the latest e-Conomy SEA report released by Google, Temasek, and Bain & Company.

The report highlights that, Vietnam’s leadership has unveiled an ambitious digital roadmap for the year, which emphasizes AI and semiconductor technologies, alongside economic growth and improved public services.

This proactive approach by the government sets Vietnam up well for significant digital advancements, despite previous limitations in infrastructure investment.

Furthermore, Vietnam is rapidly going cashless, fueled by public initiatives and innovative financial solutions.

According to the report, the e-commerce market remains a key pillar of Vietnam’s economy, contributing 22 billion USD, up 18% year-on-year, and accounting for 61% of the total digital economy.

Vietnam’s digital payments have also seen impressive growth, with the gross transaction value rising to 149 billion USD in 2024 from 126 billion USD in 2023. The figure is expected to reach 300-350 billion USD by 2030./.