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Amid global economic volatility, experts have repeatedly identified the digital economy as a key driver of growth for Vietnam. However, turning that potential into tangible economic expansion remains constrained by institutional, infrastructural, and implementation challenges.
On April 24 in Hanoi, the National Economics University (NEU), in cooperation with the Central Policy, Strategy Office and the Economic and Financial Committee of the National Assembly, held a National Scientific Conference titled “Vietnam’s Economy in 2025 and Prospects for 2026.” The event also saw the simultaneous release of the 2025 Vietnam Economic Assessment annual publication.
At the conference, participants examined the global economic context and its impact on Vietnam, alongside an assessment of 2025 growth results and prospects for 2026. The digital economy was highlighted as a major growth driver.
In opening remarks, Mr. Nguyen Duc Hien, Deputy Head of the Policy and Strategy Office of the Central Committee, said the global economy faces unpredictable volatility, posing risks to growth for countries including Vietnam. In that context, he noted that finding new growth drivers has become essential, with the digital economy identified as an important direction. However, he added that implementation has not yet met expectations, particularly in the diffusion and application of digital solutions in the manufacturing sector.
Professor Dr. To Trung Thanh of NEU said Vietnam’s 2025 growth remained positive despite uncertainties in the world economy, reflecting an ongoing recovery. He noted that the GDP scale continued to expand and per capita income improved, helping narrow the gap with regional peers.
According to Thanh, growth has mainly been driven by the industrial–construction and services sectors. Manufacturing and processing contributed to growth through export and production rebounds, while services growth was supported by consumption and tourism.
At the same time, he pointed to fundamental limitations: productivity, technology, and innovation have not contributed commensurately to growth, while the economy remains heavily dependent on capital and credit. He also said total factor productivity (TFP) shows signs of decline.
On the digital economy, Thanh said the sector currently contributes about 14% of GDP and continues to grow steadily. However, he noted that digital development remains concentrated mainly in services, with limited application in manufacturing.
He emphasized: “The issue is not only whether growth is fast or slow, but growth under which model and based on what drivers; the answer is to develop the digital economy.”
In the discussion session, experts focused on measures to promote the digital economy as a substantive growth driver in the near term.
From a regulatory perspective, Nguyen Vu Tien of the Ministry of Science and Technology said institutional reform is key. He highlighted the need for coherent solutions covering digital infrastructure, data, human resources, and strategic technologies, alongside expanding policy experimentation mechanisms (sandboxes) to create space for new technology models to be deployed in practice.
From the enterprise perspective, Dau Anh Tuan, Deputy General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), called for more pragmatic policies to improve technology absorption, especially for small and medium-sized enterprises. He also argued that the policy environment should be more flexible to reduce barriers and enable enterprises to proactively test and apply new technologies in production and business.
All conference participants agreed that for the digital economy to become a true driver of real growth, implementation must involve coordinated cooperation among institutions, infrastructure, and resources. They said the private sector should be at the center of the transformation, while the state should play a proactive and guiding role.
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