Vietnam Surges Ahead in Southeast Asia’s Digital Economy

In 2024, Vietnam’s digital economy experienced a remarkable expansion, contributing 18.3% to the nation’s GDP and achieving an annual growth rate exceeding 20%. This growth rate is triple that of Vietnam’s overall GDP and marks the highest in Southeast Asia, as reported by the Vietnam News Agency (VNA). The Ministry of Information and Communications (MIC) highlighted Vietnam’s strides in digital transformation. The country has climbed 15 spots in the United Nations e-Government Development Index (EGDI), now ranking 71st out of 193 countries, and has entered the ‘very high’ e-government development category for the first time. Recent legislative updates, such as the revised Telecommunications Law and Data Law, have tackled issues like data monopolization, promoting enhanced sharing and use of digital resources. These developments have spurred growth in AI-driven sectors and bolstered collaborations between public and private sectors in IT investment and digital governance. Additionally, new rules on social media and cybersecurity have improved Vietnam’s defenses against online fraud and cyber threats.