Vietnam Among the World’s Top 10 in E-commerce Growth

On February 6, Prime Minister Pham Minh Chinh chaired the 10th meeting of the National Committee on Digital Transformation to review its 2024 activities and discuss key tasks for 2025. Reports presented at the meeting highlighted Vietnam’s remarkable progress in digital transformation across three key pillars: digital government, digital economy, and digital society.

In the digital economy, Vietnam’s retail e-commerce revenue reached 25 billion USD in 2024, up approximately 20% from the previous year. This growth places Vietnam among the top 10 countries worldwide in terms of e-commerce growth. Non-cash payment adoption also surged by over 50% annually, the highest in Southeast Asia. The digital economy accounted for 18.3% of the country’s GDP, growing three times fastest growth in Southeast Asia.

In digital government, the country climbed 15 places in the United Nations e-Government Development Index (EGDI) in 2024, reaching 71st out of 193 nations. This marks the first time Vietnam has been classified among countries with a “very high” e-government development index. The rate of end-to-end online administrative procedures reached 45%, 2.5 times higher than in 2023. The National Public Service Portal now integrates over 4,400 administrative procedures, with around 425,000 daily logins via VNeID, providing convenient access for both citizens and businesses.

E-commerce continues to solidify its position as a cornerstone of digital economic growth

Digital infrastructure also saw major improvements. Vietnam launched its sixth—and largest—submarine cable system (20 Tbps), significantly enhancing international internet connectivity. Mobile broadband speed reached nearly 87 Mbps, ranking 37th out of 110 countries, while fixed broadband reached 159 Mbps, ranking 35th out of 154. The proportion of households using fiber-optic internet hit 82.4%, surpassing the 2025 target.

In digital society, for the first time, domestic “Make in Vietnam” platforms accounted for over 25% of digital platform usage, signaling a positive shift in user behavior. Over 55 million VNeID accounts have been activated; 90% of insured citizens use digital health records; 100% of students have digital learning profiles; and all public hospitals now support non-cash payments.

Despite these achievements, some challenges remain. These include the low adoption rate of digital signatures, fragmented data systems, and an uneven distribution of digital workforce, especially in rural and remote areas.

The Vietnamese government has set ambitious digital transformation goals for 2025, with the theme: “Comprehensive Digital Transformation to Boost Economic Growth”. The goal is to sustain Vietnam’s rapid digital economic growth and achieve an overall GDP growth rate of 8-10% in 2025.

Source: Sai Gon Giai Phong News