Vietnam: digital economy to grow 20% annually through 2025

10 November 2023

A new report from Alphabet reveals that the digital economy of Vietnam is expected to grow 20% per year over 2023-2025 to a total of US$45 billion.

The growth will be fuelled by expectations of strong economic growth from the country. The report said that digital payments in Vietnam are being strongly supported by the government, seeing investment from commercial banks, and the use of QR codes as a payment method has gained widespread popularity. Digital payments is expected to continue to grow in Vietnam as the central bank pushes to promote cashless payment services in rural locations.