Digital Service Consumers Market Booming in Vietnam

In 2020 Vietnam recorded the highest rate of new digital service consumers among South East Asia countries. According to a report published by Google, and Temasek and Bain & Company, Vietnam’s digital economy reached a total value of USD 14 billion in 2020, an increase of USD 2 billion USD compared to the previous year. Crucially, it is estimated that 41% of all digital service users in Vietnam are new users.
The Vietnamese Government has identified telecommunication infrastructure as one of the pillars of the digital economy, including mobile and fixed broadband infrastructure.  Moreover, the country is set to test 5G on a large scale from 2021. It has been announced that domestically-produced 5G devices will be tested too. According to a study by the National Institute of Information and Communications Strategy, the contribution of 5G to the national GDP growth is forecast to reach 7.34% by 2025.
(Source: Vietnamplus)