According to the 10th annual Southeast Asia Digital Economy Report (e-Conomy SEA 2025) by Google, Temasek, and Bain & Company, Vietnam’s digital economy is projected to reach a gross merchandise value (GMV) of $39 billion by the end of 2025. With a 17% year-on-year growth, Vietnam emerges as the second-fastest-growing digital economy in Southeast Asia.
Notably, this growth is fueled by a dynamic private sector, government support, and an unparalleled consumer trust in Artificial Intelligence (AI), positioning Vietnam as the regional leader in AI adoption and engagement.
Double-Digit Growth Across Digital Economy Pillars
The report highlights Vietnam’s resilience amid global economic fluctuations, driven by a vibrant private sector. Key growth drivers include robust exports (backed by substantial foreign investment in manufacturing) and rising domestic retail sales. Tourism has also emerged as a critical pillar, sustaining strong growth from 2024 to 2025.
All core digital sectors recorded impressive double-digit growth from 2023 to 2025:
E-commerce: Remains the largest contributor, accounting for two-thirds of Vietnam’s digital economy GMV, with a projected 17% increase to $25 billion.
Online Media: Estimated to reach $6 billion by 2025.
Online Travel: Projected to hit $5 billion by 2025.
Transport & Food Delivery: Expected to reach $4 billion by 2025.
E-commerce growth is further bolstered by video commerce, where both seller counts (650,000) and transactions (1.3 billion) surged 60% year-on-year.
Highest AI Trust in Southeast Asia
Vietnam’s standout feature is its consumers’ exceptional trust in AI, ranking first in Southeast Asia for engagement and confidence. A remarkable 96% of Vietnamese consumers trust AI—nearly double the 50% ASEAN average.
81% interact with AI tools daily, 59% use AI chatbots, and 43% expect AI to streamline decision-making. AI-marketed apps saw a 78% revenue surge between H1 2024 and H1 2025. Private AI investment in Vietnam reached $123 million in H2 2024–H1 2025, 5% of ASEAN’s total.
Consumers value AI for time savings (44%), 24/7 support (35%), and cost-effective deals (30%). Notably, 42% willingly share data (e.g., browsing/purchase history) for personalized experiences, showcasing deep trust in AI’s capabilities.
Robust Digital Transformation Foundation
Vietnam’s digital transformation is accelerated by government initiatives. New laws on digital technology and data establish a strong legal framework for data, digital assets, and AI use.
Under the National Digital Transformation Roadmap, all citizens and businesses now have digital IDs, simplifying online public services. Banks completed full digital verification for payment accounts, standardizing customer data and reducing fraud.
Cashless payments thrive as merchants adopt digital options. Active e-wallets reached 30 million, driving non-cash transactions via VietQR. The goal is 80% cashless e-commerce transactions by 2030, with digital payments projected at $178 billion in 2025. QR payments are now interoperable with Thailand and Cambodia, boosting tourism and trade.
Achieving the $39 billion target by 2025 underscores Vietnam’s adaptability and tech adoption. With the highest regional AI trust, a robust legal framework, and government backing, Vietnam solidifies its position as a dynamic Southeast Asian digital economy leader, poised to maximize AI-era potential.
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