Vietnam is proactively advancing its digital and sustainable economic transformation, positioning itself as a leader in Asia’s dual transition. The National Strategy for Digital Economy and Digital Society Development (2025 with a vision to 2030) and the National Green Growth Strategy for 2021-2030 (with a vision to 2050) underscore this commitment.
Digital Economy Growth
By 2025, Vietnam’s digital economy is projected to contribute 25% to GDP, with an estimated value of $52 billion. Key sectors driving this growth include e-commerce, digital banking, and online gaming, presenting attractive opportunities for investors. The National Digital Transformation Program aims to enhance economic digitalization, with goals such as achieving 50% of the adult population using digital signatures by 2025.
As of 2023, 47% of Vietnamese businesses have implemented digital transformation initiatives. Internet penetration is expected to reach nearly 80% by 2024, with smartphone ownership doubling over the past decade.
Incentives for Digital Technology
The Ministry of Information and Communications is drafting the Law on the Digital Technology Industry to foster sector growth. Proposed incentives include streamlined procedures, favorable tax policies, experimental licensing mechanisms, and the establishment of ‘digital technology zones’ akin to industrial parks.
Sustainable Growth Initiatives
Vietnam is actively implementing its net-zero transition plans, with 48.7% of businesses recognizing the critical importance of this shift. The country is a leading destination for foreign direct investment in renewable energy, particularly in wind and solar power.
Renewable Energy Incentives
The Ministry of Industry and Trade has proposed incentives to attract investments in renewable energy, including exemptions and reductions in marine area use fees for offshore wind projects. Vietnam aims to achieve 6,000 MW of offshore wind power by 2030 and between 30,000 to 50,000 MW by 2050, aspiring to become a Southeast Asian offshore wind power hub.
In summary, Vietnam’s strategic focus on digitalization and sustainability is set to drive significant economic growth by 2025, offering substantial opportunities for investors in both digital and green sectors.
Cre: Vietnam’s Economic Outlook for 2025 and Key Sectors for Investors
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