Entitled “Roaring 20s: The SEA Digital Decade”, the report states that the overall internet economy of Vietnam is expected to hit US$57 billion by 2025, a compound annual growth rate (CAGR) of 29%.
In addition, Vietnam has seen 8 million new digital consumers between the start of the COVID-19 pandemic and the first half of 2021, with 55% of them coming from non-metro areas.
According to the report, digital consumption has become a way of life in Vietnam with 97% of new consumers still using the services and 99% intending to continue doing so going forward.
Meanwhile, about 30% of digital merchants believe they would not have survived the pandemic if not for digital platforms.
Moreover, digital financial services are becoming critical enablers with 99% of digital merchants now accepting digital payments and 72% having adopted digital lending solutions.
The report said that Vietnam remains a very attractive innovation hub with more incubators, accelerators and innovation labs than most other markets in the region and global capital continues to pour into the country due to its strong growth fundamentals and growing digital ecosystem.
