Vietnam’s e-commerce and digital economy are expected to grow further in the time ahead, thus giving a boost to the country's economic development, heard a summit in Hanoi on November 21.
Vietnam has seen the highest growth in the digital economy in Southeast Asia in 2022 and 2023. (Photo: VNA)
Hanoi (VNA) – Vietnam’s e-commerce and digitaleconomy are expected to grow further in the time ahead, thus giving a boost to the country's economic development, heard a summit in Hanoi on November 21.
The Vietnam Digital Industry and Trade Summit 2023was jointly held by the Vietnam E-Commerce and Digital Economy Agency under theMinistry of Industry and Trade (MoIT) and relevant agencies.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan stressedthat it is time for Vietnam to build new economic models and strategies,adding that over the past years, the MoIT has issued many documents, policiesand strategies to promote digital transformation within the sector, as well ase-commerce nationwide.
He asked participants to seek solutions to pushahead with the e-government building and digital economy in such key areas asenergy, smart production, e-commerce and logistics.
Statistics released by the MoIT reveals that Vietnam’s e-commerce maintained its growth rate of between 16-30% over the past years, reaching 20% in 2022, and it would be valued at 20.5 billion USD this year. (Photo: thanhnien.vn)
Dang Anh Dung, deputy general director of thee-commerce platform Lazada Vietnam, cited statistics showing that 57 million Vietnameseshopped online last year, mostly in Hanoi, Ho Chi Minh City, and Da Nang, and 43%of Gen Z consumers accessed shopping apps every day.
The event featured a plenary session, twoconferences and an exhibition showcasing technologies and solutions for digitaltransformation, smart production and e-commerce with the participation of about20 domestic and foreign businesses.
According to a report released on November 1 byGoogle, Temasek and Bain & Company, Vietnam has seen the highest growth inthe digital economy in Southeast Asia in 2022 and 2023, and it is expected toshare the position with the Philippines in 2025.
Vietnam’s Gross Merchandise Value (GMV) is forecastto gain the Compound Annual Growth Rate (CADR) with a growth rate of 20% from 30billion USD in 2023 to nearly 45 billion USD in 2025.
Notably, e-commerce is projected to drive the GMVgrowth of the national digital economy in the next two years.
Statistics released by the MoIT also revealed that Vietnam’s e-commercemaintained its growth rate of between 16-30% over the past years, reaching 20%in 2022, and it would be valued at 20.5 billion USD this year./.
A national e-commerce week will be held from November 27 to December 3, while Vietnam Online Friday 2023 is scheduled to run from December 1-3, according to the Ministry of Industry and Trade (MoIT).
Small scale, limited production level and operation capacity are barriers that create difficulties in deploying sales of businesses and cooperatives in localities on digital platforms.
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.
Removing barriers hindering trans-border e-commerce activities is a current concern of many ministries, sectors and businesses, in the context that despite their advantages in export, Vietnamese firms engaging in the activities have still faced many difficulties.
The 2023 E-commerce Week and Online Friday, Vietnam's largest online shopping programmes of the year, are slated to begin later this month, heard a press conference held by the Ministry of Industry and Trade (MoIT) on November 16.
The German Chamber of Commerce Abroad (AHK) in Vietnam on November 21 released its AHK World Business Outlook – Fall 2023, which highlights Vietnam as a promising investment destination for German businesses.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam has seen the highest growth in the digital economy in Southeast Asia in 2022 and 2023. (Photo: VNA) 
Statistics released by the MoIT reveals that Vietnam’s e-commerce maintained its growth rate of between 16-30% over the past years, reaching 20% in 2022, and it would be valued at 20.5 billion USD this year. (Photo: thanhnien.vn) 
