Breakthroughs from the digital economy

The digital economy is not only an inevitable trend but is increasingly asserting its role as a crucial driving force for rapid and sustainable economic growth.

The 14th National Congress of the Party outlined 12 development orientations for the period 2026-2030, emphasizing the continued strong reform of thinking and action, with science , technology, innovation, and digital transformation as the main driving forces.

According to experts, for the digital economy to truly become a breakthrough growth engine, a comprehensive set of fundamental, long-term solutions needs to be implemented simultaneously.

Hanoi residents have developed a habit of cashless payments. Photo: VN

Key growth drivers

In recent years, the digital economy has continued to affirm its role as an important growth driver for Hanoi. The proportion of added value from the digital economy in the Gross Regional Domestic Product (GRDP) in 2025 is estimated at 17.34%, equivalent to approximately VND 275.3 trillion, an increase of 13.4% compared to 2024 and 1.76 times higher than in 2020 (higher than the proportion of the digital economy in the national GDP, ranking second among the six centrally-governed cities and fifth nationwide).

In 2025, the city launched the "Digital Booth - Elevating Capital City Merchants" program and piloted the "Hanoi Capital City Product Booth" on the Shopee e-commerce platform. Considered a breakthrough solution in digital economic development, the program aims to bring over 60% of products belonging to each OCOP product group in Hanoi (excluding fresh and processed agricultural and aquatic products in the food group) to the "Hanoi Capital City Product Booth"; and 100% of production and business establishments participating in the "Hanoi Capital City Product Booth" to apply digital technology solutions (digital signatures, electronic contracts, electronic invoices, product traceability)...

In addition, the city is also implementing "Cashless Commercial Street 4.0" and "Digital Market" models for small traders and business households; encouraging payments via QR code, and promoting the application of digital technology in the commercial activities of business households and citizens.

In particular, at the 26th thematic session on September 29, 2025, the Hanoi City People's Council officially approved the Project to establish the Hanoi Technology Exchange, expected to be operational in the 2026-2027 period. The Hanoi Technology Exchange is oriented towards operating under a "public investment, private management" model, in which the State invests in infrastructure, while selected businesses operate, exploit, and provide services. The goal by 2030 is to make the Hanoi Technology Exchange a modern intermediary institution for the science and technology market, playing a leading role in the science, technology, and innovation ecosystem of the Capital, reaching regional and international levels.

According to the Department of Science and Technology, as of October 2025, Hoa Lac High-Tech Park had attracted 111 investment projects (including 96 domestic projects and 15 FDI ​​projects), with a total registered capital of approximately VND 115,830 billion. The park has implemented investment attraction activities to form an incubation and innovation ecosystem, notably including the National Innovation Center (NIC - Ministry of Finance), the Northern Region Industrial Development Support Technical Center (Ministry of Industry and Trade), the SSI Research and Development Center, and the Hanoi Innovation and Technology Business Incubator... This ecosystem promotes the development of the digital economy in many new fields, bringing high value to Hanoi.

From a national perspective, according to Deputy Director of the General Statistics Office (Ministry of Finance) Le Trung Hieu, the proportion of added value from the digital economy in GDP has continuously increased during the 2021-2025 period, from 12.87% in 2021 to 14.02% in 2025, averaging approximately 13.2%. Of this, the core digital economy sector contributed 8.13%, while the digitalization of other sectors contributed 5.05%.

In 2025, the digital economy will continue to make a significant contribution to Vietnam's economic growth, with its value-added share estimated at 14.02% of GDP, equivalent to approximately US$72.1 billion, 1.64 times higher than in 2020 and 1.5 times higher than in 2021. Within this, several digitized sectors have high added value, such as wholesale and retail trade using digital technology (e-commerce), accounting for approximately 11.8% of the total added value of the digital economy; electricity, gas, hot water, steam and air conditioning production and distribution, accounting for approximately 4%; and financial services activities, accounting for approximately 2.6%.

"These results reflect the initial effectiveness of the National Digital Transformation Strategy, the leading role of the Digital Government, and the synchronized efforts of all levels, sectors, businesses, and people in developing the digital economy and digital society," Mr. Le Trung Hieu emphasized.

Synchronize solutions

The achievements clearly demonstrate the driving role of the digital economy in the country's economy. However, alongside the positive results, Vietnam's digital economy still faces many challenges. Domestic added value remains limited as many digitalization activities are still limited to applying technology in traditional sectors, and have not yet created many high-value "Make in Vietnam" products. The digital divide between regions and population groups is still large, resulting in uneven access to technology. Notably, there is still a shortage of high-quality human resources in technology and data, and digital infrastructure in many localities does not yet meet the requirements for rapid and secure development...

For the digital economy to truly become a breakthrough growth engine, many experts believe that investing in the synchronized development of digital infrastructure is the core foundation. Vietnam needs to continue expanding its high-speed broadband network and promoting 5G coverage nationwide, especially in industrial zones, urban areas, and key economic regions. Simultaneously, investing in the construction of large-scale, modern, internationally standardized data centers will help meet the growing demand for data storage and processing, while reducing dependence on foreign infrastructure. Digital infrastructure will only be truly effective when it is developed synchronously, seamlessly, and securely, creating a solid foundation for all digital economic activities.

Along with developing digital infrastructure, encouraging innovation in businesses is a decisive solution. According to experts, the State needs to have policies to support businesses, especially small and medium-sized enterprises (SMEs), in applying digital technology, transforming production and business models, and participating in digital value chains. Support programs in finance, consulting, digital workforce training, as well as connecting businesses with research institutes, universities, and technology startups need to be implemented effectively and substantially. At the same time, it is necessary to form and develop an innovation ecosystem where businesses can experiment with new business models and new products based on digital technologies...

An equally important solution is to build flexible mechanisms and policies that create a favorable environment for the development of the digital economy. In the context of rapidly changing technology, the legal framework needs to be open, up-to-date, and capable of removing administrative barriers while encouraging innovation and ensuring effective management. In particular, promoting public-private partnerships in the development of digital infrastructure, digital platforms, and online public services will help effectively mobilize social resources, improve service quality, and enhance the efficiency of state management.

The digital economy will only truly become a breakthrough driving force when Vietnam simultaneously and consistently implements solutions related to infrastructure, businesses, and institutions. With strong political will and the synchronized involvement of the State, businesses, and the entire society, the digital economy will make a significant contribution to Vietnam's rapid, sustainable development and proactive integration in the digital age. Building a strong digital economy will not only enhance national competitiveness but also create a foundation for sustainable and inclusive growth in the context of global integration.

Source: https://hanoimoi.vn/dot-pha-tu-kinh-te-so-734117.html