Additionally, the government has prioritized digitization initiatives that will enable the growth of the country’s digital economy, including tax incentives for high-tech sector investments, e-governance and administration, fiber connectivity expansion, and 5G rollout. An example is the implementation of data localization norms, which came into effect on October 1, 2022. Recent regulations emphasize the importance of data sovereignty, safeguarding personal information, and bolstering cybersecurity measures. The landscape of opportunities within Vietnam’s digital economy is vast and undergoing significant transformations driven by evolving regulations and the impetus for greater digitization. These figures, however, only tell part of the story. Vietnam had 77.93 million internet users in January 2023, with a 7.3 percent increase from 2022.
This projected growth is underpinned by a compound annual growth rate (CAGR) of 10.68 percent, spanning the period from 2022 to 2028. Vietnam’s data center economy is poised for steady expansion, with the sector forecast by Research and Markets to reach US$1.03 billion by 2028, a substantial increase from the US$561 million recorded in 2022. SeptemPosted by Vietnam Briefing Written by
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