Vietnam's digital economy is maintaining double-digit growth, driven mainly by e-commerce and online travel, according to a report released recently by Google, Temasek, and Bain & Company.
Vietnam's digital economy is growing at the fastest pace in Southeast Asia with gross merchandise value expected to increase by 28%, from 18 billion USD in 2021 to 23 billion USD.
Vietnam takes the lead and set to post a 31% growth in gross merchandise value (GMV) from 23 billion USD in 2022 to 49 billion USD in 2025, according to the "e-Conomy SEA 2022" report released by Google, Temasek and Bain & Company on October 27.
Prime Minister Pham Minh Chinh on August 1 called on Singaporean firms and Temasek in particular to expand their investment in Vietnam, particularly in technology, strategic infrastructure development, logistics and innovative startups.
Singapore’s government-owned investment fund Temasek on January 25 agreed to acquire Element Materials Technology Group - a global provider of testing, inspection and certification services for materials and products - from Bridgepoint in a deal reportedly worth 7 billion USD.
The Singaporean Government on November 25 ordered a member of the opposition Progress Singapore Party to correct a Facebook post which authorities said could smear the reputation of state investment funds.
The BW Industrial Development JSC, a joint-venture between the US private equity fund Warburg Pincus and Vietnam’s Investment and Industrial Development Corporation (Becamex IDC), made debut in the southern province of Binh Duong on May 15.
Southeast Asia’s internet economy is estimated to reach 50 billion USD in 2017, according to a report released by Temasek of Singapore and Google of the US on December 12.
