The global race for the data economy is currently shaped by three major models. The US leads through its vast private-sector technology ecosystem. China pursues a centralised approach, treating data as a strategic production factor to support artificial intelligence (AI) development and national governance. Meanwhile, the European Union has adopted a rules-based model focused on personal data protection, privacy rights and the development of ethical frameworks for AI.
According to the International Data Centre Authority (IDCA), the digital economy now accounts for around 17.3% of global GDP, equivalent to more than 20 trillion USD. AI, data centres, cloud computing and high-performance computing infrastructure are reshaping global value chains. Countries that can effectively harness and control data will gain significant advantages in both economic competitiveness and technological sovereignty.
At the third meeting in 2026 of the Government Steering Committee on science and technology development, innovation, digital transformation and Project 06, Prime Minister Le Minh Hung, head of the committee, emphasised that: “Data and artificial intelligence are not merely tools; they are core resources and key drivers of digital transformation and economic breakthroughs.”
According to the e-Conomy SEA 2025 report published by Google, Temasek and Bain & Company, Viet Nam’s digital economy is expected to generate approximately 39 billion USD in gross merchandise value in 2025 and contribute more than 72 billion USD, equivalent to around 14% of national GDP. With growth of 17% compared with 2024, Viet Nam is currently the second-fastest-growing digital economy in Southeast Asia.
According to the e-Conomy SEA 2025 report published by Google, Temasek and Bain & Company, Viet Nam’s digital economy is expected to generate approximately 39 billion USD in gross merchandise value in 2025 and contribute more than 72 billion USD, equivalent to around 14% of national GDP. With growth of 17% compared with 2024, Viet Nam is currently the second-fastest-growing digital economy in Southeast Asia.
Dr Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy Research, said that data should now be regarded as a new factor of production, alongside capital, labour, natural resources and technology. He noted that data can only realise its full value when it is efficiently distributed and circulated throughout the digital economy.
Viet Nam is increasingly recognised as one of Southeast Asia’s fastest-growing digital economy and data centre markets. This momentum is being driven by three key factors.
First, the country’s young population and high internet penetration have generated a vast pool of consumer data through e-commerce, digital payments and social media activities.
Second, the legal framework is becoming increasingly comprehensive, centred on the Cybersecurity Law and regulations on personal data protection. These measures reflect the Government’s strong commitment to safeguarding national data sovereignty.
Third, a wave of infrastructure investment is gathering pace, with leading domestic technology firms positioning themselves to attract global capital flows and data-related investments into Viet Nam.
Major localities are also actively competing to attract foreign direct investment into digital infrastructure. In April 2026, for example, Ho Chi Minh City granted investment certificates to four high-tech projects worth more than 1.23 billion USD in the Saigon Hi-Tech Park, with a focus on digital infrastructure development.
Despite attracting billions of dollars in investment, Viet Nam’s data economy still faces significant challenges. The competition is no longer simply about data storage infrastructure, it is increasingly centred on computing power, AI capabilities and cybersecurity. If Viet Nam focuses solely on providing physical infrastructure, it risks becoming merely a global “data processing workshop”, while also facing mounting pressure on electricity consumption and transmission networks.
In the digital era, where data is closely linked to financial security, national sovereignty and government operations, the risks of data breaches and technological dependence on foreign providers present serious challenges to national data security. Achieving greater self-reliance will require Viet Nam to master core technologies and develop a “Make in Viet Nam” AI ecosystem.
Dr Nguyen Duc Hien, Deputy Head of the Central Policy and Strategy Commission, believes Viet Nam is entering an “AI transformation” phase following its digital transformation process, with data becoming the fundamental pillar of the economy. He estimates that AI could contribute between 120 billion USD and 130 billion USD to Viet Nam’s economy by 2040.
However, alongside growth opportunities come rising risks related to cybersecurity and data leakage, particularly in the financial and banking sectors, where enormous volumes of data are generated through digital payments and online platforms.
Viet Nam is entering an “AI transformation” phase following its digital transformation process, with data becoming the fundamental pillar of the economy. He estimates that AI could contribute between 120 billion USD and 130 billion USD to Viet Nam’s economy by 2040. However, alongside growth opportunities come rising risks related to cybersecurity and data leakage, particularly in the financial and banking sectors, where enormous volumes of data are generated through digital payments and online platforms.
Dr Nguyen Duc Hien, Deputy Head of the Central Policy and Strategy Commission
To achieve its ambition of becoming one of Asia’s leading “data powers” by 2045, Viet Nam’s digital economy must focus on three critical pillars: digital infrastructure, including 5G and 6G networks, data centres, cloud computing and the Internet of Things (IoT); digital talent, particularly in data science, AI, cybersecurity and digital skills; and digital institutions, including personal data protection frameworks, open data-sharing mechanisms and regulatory sandboxes.
With these three pillars firmly in place, Viet Nam will be well positioned to safeguard its digital sovereignty and strengthen its standing on the global digital economy map.
