e-Conomy SEA 2025 Report: How Vietnam's Digital Economy Fared Last Year

It’s been a while since we last covered the e-Conomy SEA 2025 report. While Indonesia, Singapore, and Thailand continue to hog all the limelight for their excellent digital performances, Vietnam has made significant strides in video commerce and AI engagement over the last year. In this blog, we shall take a look at how Vietnam is slowly cementing its place as a major player in Southeast Asia in the AI sector and how it has performed in other sectors.

Here are the major highlights of the report.

1. 17% Growth in Digital Economy

Although Vietnam’s digital economy of $39B pales in comparison to that of Indonesia’s $99B digital economy, it’s worth noting that Vietnam has registered strong double-digit growth across all sectors, including e-commerce (17%), online travel (16%), online media (16%), and transport and food (20%).

While the country’s digital economy has done exceptionally well on all fronts, much of its growth is fueled by strong performance in the e-commerce sector, which currently sits at $25B. Vietnam’s digital economy is expected to reach almost $90B by 2030, with its e-commerce sector breaching the $60B-mark in the next 4 years.’

2. Digital Transformation Accelerates With Government Support

Vietnam witnessed a strong growth in digital payments as the government pushed for cashless payments. As part of a national digital transformation agenda, Vietnam has rolled out electronic IDs for all residents and businesses, streamlining access to online public services.

Banks have recently completed a comprehensive verification of all digital payment accounts, an initiative that has standardised customer information and significantly curbed fraud. The passage of new laws on digital technology and data provides fresh incentives for tech firms while establishing robust legal frameworks for digital assets, AI, and data usage.

Merchant adoption of cashless options and the growth of active ewallet accounts to 30M set off a surge in non-cash and VietQR payments in 2024, towards a target of 80% cashless transactions in ecommerce by 2030. As of last year, QR payments in Vietnam are fully interoperable with those in Thailand and Cambodia, creating new potential for tourism and economic flows between the nations.

3. High AI Engagement and Trust

Vietnamese users ranked first in Southeast Asia for AI engagement and trust, leading in daily interactions and willingness to share data for personalized experiences.

81% of Vietnamese AI users interact with AI tools and features every day. In fact, 43% of the surveyed Vietnamese AI users said that they expect AI to make decisions faster and with less mental effort. As a result, the country saw $123M of private funding in AI, which means Vietnam accounts for 5% share of all the AI investments across Southeast Asia.

4. Sustainable Foundations in the Video Commerce Market

The video commerce market in Vietnam has been witnessing a surge with a transaction volume of $1.3B at a 60% year-on-year rise. Fashion, beauty, and personal care accounted for over 50% of Vietnam’s video commerce market.

The average value for each order was $5.5-$7. Also, the number of sellers and stores increased exponentially by 60% year-on-year to reach 650k.

5. Adapting to a Shifting Mobile Gaming Market

As the global gaming market matures, Vietnam’s developers are shifting their strategy from maximising downloads to building sustainable revenue. Studios are focusing on increasing monetisation through in-app purchases and creating games designed to drive deepened long-term engagement.

Concurrently, many are leveraging their mobile expertise to diversify beyond gaming and pursue new avenues for growth. This strategic pivot is essential for navigating market shifts and ensuring the long-term success of the country’s dynamic developer sector.

Bottom Line

Vietnam’s showing in the e-Conomy SEA 2025 Report points to a digital economy that is quietly but confidently coming into its own. Rather than relying on sheer scale, the country’s progress is being shaped by deep user engagement, strong institutional support, and a growing level of trust in emerging technologies like AI.

At the same time, steady advances in video commerce, digital payments, and mobile innovation signal a market building durable foundations for the long term. As Vietnam continues to align policy, platforms, and user behaviour, it is steadily positioning itself as a serious digital contender in Southeast Asia.

To delve deeper into the report, click here to read the full report.

We’ll be back with more insightful blogs on the e-Conomy SEA 2025 Report. Till then, stay tuned!