In the following two years, e-commerce will account for the majority of the value of Vietnam's goods.

DNHN - Based on findings from Google, Temasek, and Bain & Company, the e-commerce industry is anticipated to drive the expansion of the digital economy in Vietnam over the next two years, as measured by the total value of goods.

Google, Temasek, and Bain & Company have all reported that Vietnam remains a bright spot in Southeast Asia due to its digital economy expanding at the fastest rate. It is noteworthy to mention that Vietnam has held this position for two consecutive years (2022 and 2023), and it is anticipated that it will continue to do so until 2025, thereby sharing the top spot with the Philippines.

The compound annual growth rate (CAGR) of total merchandise value (GMV) in Vietnam is projected to reach 20% between 2023 and 2025, rising from 30 billion USD in 2023 to nearly 45 billion USD in 2020. The e-commerce industry is specifically recognized as the primary catalyst for the exponential expansion of the digital economy.

The Ministry of Industry and Trade's statistics further validate the noteworthy growth rate of e-commerce in Vietnam, which is projected to attain 20% by 2022. The growth rate of this industry has remained consistently stable in recent years. It has grown by 16–30% annually and is projected to reach 20.5 billion USD this year.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan stated that Vietnam's e-commerce market and digital economy will continue to expand at a rapid rate in 2023 and subsequent years, generating economic development momentum. Additionally, Vietnam should develop new models and strategies at this time. This will facilitate the recovery of enterprises and the growth of markets after the resolution of the challenging circumstances.

As per Deputy Minister Nguyen Sinh Nhat Tan, the Ministry of Industry and Trade has issued numerous policies, documents, and strategies in recent years to facilitate the digital transformation of trade and industry sectors; bolster the Ministry of Industry and Trade's e-government infrastructure; foster digital economic development in the trade and industry sectors; and expand e-commerce on a national scale.

To attain targeted initiatives and resolutions for the advancement of e-commerce and the digital economy, augment the impact of digital transformation on the future progress of industry and trade, as well as the Vietnamese economy as a whole. Deputy Minister Nguyen Sinh Nhat Tan requested that forum attendees, amidst the prevailing challenges, direct their attention towards deliberations concerning technology application trends in the realm of digital transformation, with a specific emphasis on the digital transformation of the industry and trade sector. The agenda items should include strategies to advance e-government and foster the growth of the digital economy in critical sectors including energy, smart manufacturing, e-commerce,

Concurrently, offer solutions to facilitate the expansion of regional connectivity, bridge the digital divide, and sustainably construct e-commerce markets; solutions to foster the growth of e-commerce and the digital economy within local industries and trade sectors.

P.V (t/h)