Vietnam forecast to be fastest growing digital economy in South-east Asia: report

E-commerce, one of the main contributors to Vietnam's digital economy, is forecast to grow 22 per cent to reach US$24 billion in 2025. - VNA/VNS

HANOI (Xinhua): Vietnam will remain the South-east Asian region's fastest-growing digital economy between 2023 and 2025, Vietnam News Agency reported Wednesday (Nov 8), citing the latest regional digital economy report by Google, Temasek and Bain & Company.

According to the 8th edition of the e-Conomy SEA Report, Vietnam's digital economy will grow at 20 per cent in two years, the same level as the Philippines, and followed by Thailand, Indonesia, Malaysia and Singapore.

Vietnam's gross merchandise value is expected to near US$45 billion by 2025, the third highest in the region after Indonesia ($109 billion) and Thailand ($49 billion).

E-commerce, one of the main contributors to Vietnam's digital economy, is forecast to grow 22 per cent to reach 24 billion dollars in 2025.

According to the report, Vietnam also records the fastest growth in digital financial services in the region.

In 2022, Vietnam ranked first in the group of six leading digital economies in South-east Asia in terms of growth rate.

The country's e-commerce recorded the highest growth rate in the region last year. - Xinhua

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