Vietnam to be fastest-growing e-commerce market in Southeast Asia by 2026: Report
Vietnam is expected to be the fastest-growing e-commerce market in Southeast Asia by 2026, with e-commerce Gross Merchandise Value (GMV) reaching 56 billion USD by 2026, 4.5 times the estimated value of 2021, according to a report by Facebook and Bain & Company.
Hanoi (VNA) – Vietnam is expected to be the fastest-growing e-commerce market in Southeast Asia by 2026, with e-commerce Gross Merchandise Value (GMV) reaching 56 billion USD by 2026, 4.5 times the estimated value of 2021, according to a report by Facebook and Bain & Company.
In the annual SYNC Southeast Asia report which looks at the digital economy in the region, the two big market observers said located in a vibrant part of the world, Vietnam is at the forefront of driving change and seizing opportunities to thrive based on digital transformation in a post-pandemic future.
The study surveyed about 16,700 digital consumers and more than 20 C-level employees in six Southeast Asian countries, including 3,579 survey participants from Vietnam.
The report described Southeast Asia as a leader of digital transformation in Asia-Pacific and Vietnam as one of the best performers.
In Vietnam, seven out of 10 consumers have digital access and the country will have 53 million digital consumers by the end of 2021, the report said.
The number of goods categories purchased by Vietnamese online shoppers this year went up 50 percent compared to 2020, while that of online stores in Vietnam also rose by 40 percent year-on-year, resulting a 1.5-fold increase in total online retail sales nationwide.
Some 49 percent of Vietnamese consumers switched to a new online marketplace within the last 3 months, based on considerations of price incentives (45 percent), product quality (34 percent), and availability of goods (33 percent).
For the first time, the payment using cash is at risk of being dethroned with a significant decrease from 60 percent in 2020 to only 42 percent in 2021. Safety, privacy and service fees are the three main concerns of Vietnamese consumers when considering these types of payment.
🐎 This year, Vietnamese people spent most of the time on using social networks, texting, watching videos, shopping online, and emailing. They used 72 percent of their time for regular activities at home instead of going out./.
Digital technology, if exploited to the maximum, can bring over 1.733 quadrillion VND (74 billion USD) to Vietnam by 2030, with the most beneficial sectors including manufacturing, agriculture and food, and education-training.
Vietnamese Minister of Information and Communications Nguyen Manh Hung and the UK’s Parliamentary Under Secretary of State at the Department for Digital, Culture, Media and Sport Chris Philp signed a Letter of Intent on cooperation in digital economy and digital transformation on November 1 (London time).
Around 85 percent of Vietnamese banking consumers are more likely to use online and digital banking services compared to 18 months ago, according to a new report from SaaS cloud banking platform Mambu.
MobiFone has become the first telecoms company to provide Mobile Money services in Vietnam after receiving permission from the State Bank of Vietnam on November 18.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative image (Source: Aba-france.com)
