Vietnam's digital economy reaches $53 billion in Q1

April 29, 2022 | 09:55
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The Ministry of Information and Communications (MIC) held a meeting of the National Committee on April 27 on Digital Transformation, revealing that the country's digital economy generated revenue of $53 billion in the first quarter of this year.
Vietnam's digital economy reaches $53 billion in Q1

According to the MIC's report presented at the conference, the contribution made by the digital economy has been growing considerably over time.

Vietnam's economy has been bolstered by the digital revolution, comprising three main components: ICT, the Internet, and the digitalisation of industries.

The economy centring around the Internet has experienced a 28 per cent rise in revenue, reaching $8 billion in Q1 of this year, while the ICT sector and the digital economy of industries have experienced average revenue growth rates of approximately 15 per cent each over the same period.

The number of newly-formed digital technology companies reached over 65,000 by the end of February, representing a growth of nearly 500 enterprises on-year.

The introduction of roughly 3,500 digitally-enabled public services has also created favourable conditions in the context of the 4.0 era.

By Trung Duong

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