Menu
Digital payments are now commonplace in Vietnam. Encouraged by the government and financial institutions, consumers are enthusiastically embracing this technology. QR codes have become ubiquitous in Vietnam, simplifying everyday purchases and transforming transactions into a smooth, hassle-free experience.
This trend even extends to rural areas, where the central bank is working to integrate digital payments into the daily lives of local residents. In this way, the digital revolution is not confined to metropolises, but benefits all citizens, regardless of where they live.
E-commerce is booming in Vietnam, with annual growth of 11% between 2022 and 2023. This meteoric rise is fueled by the widespread adoption of online shopping, propelled by the ease of use of digital platforms and growing consumer confidence in virtual transactions.
Forecasts are even more promising: compound annual growth of 22% by 2025 is envisaged, which could bring the total value of goods exchanged to $24 billion. This is a real economic guarantee for Vietnam, and testifies to the country's transition to a flourishing digital economy.
Beyond the traditional digital economy, Vietnam is also positioning itself as a major player in the chip manufacturing sector. This strategic industry is booming, attracting the attention of global investors, and opening up new prospects for economic growth in the country.
World-renowned companies such as Nvidia and Samsung have set their sights on Vietnam, attracted by the guarantees offered by the Vietnamese government to encourage investment in chip manufacturing. These tech giants see Vietnam as an ideal location for expanding their activities, benefiting from both abundant resources and a business-friendly environment.
To support this explosive growth, Vietnam is committed to training a highly skilled semiconductor workforce. Training programs and partnerships between universities and companies are being set up, aiming to prepare 50,000 specialized engineers by 2030.
Vietnam is reportedly considering relaxing its policy of attracting foreign experts, who have recently experienced difficulties in obtaining work permits. To this end, universities are offering semiconductor training courses in partnership with employers such as Samsung. Good news for Peers and our collaborators!
