Vietnam has been eager to reinvent itself and key among its strategies is their digital transformation. The nation is are keenly aware of the decisive role perception plays in this.
Digital platform development is a breakthrough solution to promote faster digital transformation, reduce costs and increase efficiency. The country also recognises that people are at the centre of digital transformation and that institutions and technology are the driving force of digital transformation.
According to the report “Southeast Asia’s Digital Economy 2019”, Vietnam’s digital economy was valued at $12 billion in 2019. Over the past 5 years, Vietnam’s e-commerce market grew by over 25% per year. Vietnam’s digital economy is forecasted to contribute 5% to the country’s GDP and is expected to reach $43 billion by 2025.
Vietnam has made tremendous strides in its digital economy and tech-related industry and the country has managed to attract many big investors including numerous tech giants. The overall number of ICT firms in Vietnam (both domestic and foreign-invested) are a staggering 46,000 units. Vietnamese ICT industry’s revenue in 2019 was US$ 110 billion, the B2C e-commerce contributed about US$ 10.8 billion and the digital content industry’s revenue was pegged at US$ 850 million.