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Vietnam’s digital economy to boom, hit $45 billion by 2025

Vietnam’s digital economy is expected to grow 20% a year in the 2023-2025 period, on track to reach around $45 billion by 2025, fuelled by strong expectations of economic growth, according to an annual report published jointly by Alphabet’s Google, Singapore state investor Temasek Holdings and global business consultants Bain & Company.

“Digital payment continues to grow in Vietnam driven by strong support from the government, investment from commercial banks, and the widespread popularity of QR codes,” the report said, adding the trend is expected to accelerate as the country’s central bank promotes cashless payment services in rural and remote areas. Reuters

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