Vietnam’s digital tech sector hits $198b revenue

Vietnam’s digital technology industry exceeded its 2025 targets, according to a report from the Ministry of Science and Technology.

The sector reported total revenue of US$198 billion, a 26% rise from 2024 and 16% above the annual goal.

Its contribution to GDP reached nearly US$40.9 billion, up 10% year-on-year.

Hardware and electronics exports hit US$178 billion, up 35% from 2024 and 12% higher than targeted.

Ecommerce revenue was estimated at US$36 billion, three times the 2020 figure, with annual growth between 22% and 25%.

The number of active digital technology firms reached 80,052, a 10% increase over the previous year.

🔗 Source: Vietnam News

🧠 Food for thought

Implications, context, and why it matters.

FDI firms held about 98% of US$126.5 billion in 2024 electronics exports, led by Samsung and Intel 1.
Domestic firms operate near 64 percent of frontier set by foreign peers with no catch-up since 2011 1. Tech transfer stays thin as designs remain offshore 1. Many Korean and Japanese investors keep closed supplier networks, while ASEAN, Chinese partners are more open 1.

Vietnam’s data center market could reach $2.6 billion by 2029 from $2.2 billion in 2025 as rules allow 100% foreign ownership and local data storage starts in January 2026 2.
Samsung C&T (Samsung’s engineering, construction arm) teams with CMC (a Vietnamese technology group) and a G42-led consortium (an Abu Dhabi–based AI, cloud company) eyes $1.3 billion/$2 billion hyperscale builds 3 4.
Evolution Data Centres formed a joint venture (JV) with HITC (a local infrastructure operator) for sites in Vietnam 5. LG CNS (LG’s IT services arm) signed a memorandum of understanding (MoU) with VNPT (state-owned telecom Vietnam Posts and Telecommunications Group) for a hyperscale AI facility 6.
Hanoi and Ho Chi Minh City hold 51 MW versus Singapore at 1+ gigawatts (GW), while e-commerce hit $36 billion in 2025 with 22 to 25% annual growth 3 7.
Binh Duong and Hoa Lac are hotspots with industrial land rents near $177 per square meter (sqm) in the south, with $132 per sqm in the north; access to renewables gives operators an edge 4 3.