Vietnam's digital economy is forecast to grow elevenfold, reaching US$220 billion by 2030, with artificial intelligence (AI) playing a significant role in this expansion.

Livestreaming is being scrutinised to discover the best methods of increasing tax management to ensure fairness and transparency in the online retail market.

With two new groundbreaking policies, the Ministry of Information and Communications (MIC) aims to popularize the national domain name ‘.vn’ to stimulate the development of a digital economy and society.

Vietnam was the fastest-growing digital economy in ASEAN in 2023, and with its potential it is on the road to becoming the second-largest by 2030, said the Hong Kong and Shanghai Banking Corporation (HSBC) in its recent report “Vietnam at a glance.”

Many digital firms complain they have encountered difficulties when trying to enter foreign markets and need support from the government and associations.

The products that men bought the most on e-commerce platforms included tech products and household appliances.

Vietnam was the fastest growing digital economy in ASEAN in 2022 and 2023 and it is expected to maintain this position until 2025, with the number of smartphones users anticipated to reach 67.3 million by 2026, accounting for 96.9% Internet users.

Vietnam has become a leading market for the digital industry for both local and international players.

Virtual asset transactions in Vietnam are currently conducted through international trading platforms or direct arrangements, which poses risks of money laundering for the individuals involved.

It aims to establish the groundwork for a digital government, foster a thriving digital economy, and cultivate a connected digital society.

Vietnam’s digital technology sector has achieved a significant milestone, with 1,500 enterprises generating US$7.5 billion in revenue from foreign markets, said Nguyen Manh Hung, Minister of Information and Communications.

The government and the Ministry of Information and Communications (MIC) have confirmed the outcomes of digital transformation in 2023.

Vietnam should be well-positioned with its sound technical infrastructure to boost its digital economy, Assoc.Prof Yen Tran, lecturer on innovation and international startup at the University of Edinburgh Business School, has said.

The digital economy is expected to make up 25 percent of Vietnam’s GDP by 2025 and 30 percent by 2030, the Politburo Resolution 52-HQ/TW states.

The number of digital technology companies in Vietnam has increased by 30% while the industry’s revenue has risen by 32% since 2019, Minister of Information and Communications Nguyen Manh Hung said on December 11.

Vietnam is enjoying the fastest growth rate of digital economy in Southeast Asia this year, with its compound annual growth rate (CAGR) in the 2022-2023 period of 19 percent. The leading position will continue in the 2023-2025 time.

E-commerce and digital economy are among the bright spots in Vietnam's socio-economic development.

Vietnam will remain the region’s fastest growing digital economy between 2023-2025, according to the 8th edition of the e-Conomy SEA Report published on November 7 by Google, Temasek and Bain & Company.

With a young population, a strong ability for digital transformation among consumers, and increasing digital consumption, Vietnam is anticipated to achieve digital economic growth of US$45 billion by 2025