Vietnam's digital economy is projected to reach 39 billion USD this year, positioning it among the fastest-growing in the region. Hoang Ninh, Deputy Director of the E-commerce and Digital Economy Agency, under the Ministry of Industry and Trade, announced this forecast at the Digital Transformation Forum for Industry and Trade on December 3. E-commerce remains a primary growth engine, with an estimated scale of 25 billion USD, accounting for 10% of total retail sales of goods and consumer services.

Beyond e-commerce, digital transformation in industry and smart manufacturing has also contributed significantly. It helped boost the industrial production index (IIP) by 8,4%, marking a five-year high. The Ministry of Industry and Trade reported that approximately 90% of manufacturing and processing businesses have implemented some digital solutions, 35% are utilizing robots and sensors in production, and 10-12% have achieved smart factory 3.0 status.

A customer searches for products on an e-commerce platform. Photo: Shopee.

Nguyen Sinh Nhat Tan, Deputy Minister of Industry and Trade, noted at the forum that the digital economy continues to improve, becoming a new pillar that enhances productivity, expands markets, and strengthens the economy's resilience. Dang Thuy Trang, External Relations Director for Grab Vietnam, emphasized the role of digital platforms as crucial tools supporting local digital economy development. These platforms, by offering a multi-service ecosystem, meet the daily needs of citizens and drive digital transformation in areas such as tourism, heritage promotion, culture, and cuisine.

Despite these opportunities, the digital economy faces growing risks from cyber fraud. Nguyen Nhu Quynh, Co-founder and Chief Operating Officer of the Anti-Fraud Organization, warned of increasing cyberattacks, including email spoofing, manipulation of partner information to alter payment terms, and cross-border commercial fraud. With the rapid advancement of artificial intelligence (AI) technology, new forms of attacks are emerging, ranging from voice to image and video spoofing. These more severe threats directly target individuals, who are often the most vulnerable link in cybersecurity systems.

To mitigate online fraud risks, Quynh advised businesses to establish proactive defense systems and deploy AI in cybersecurity for enhanced monitoring and early detection of anomalies. She also stressed the need for increased public-private cooperation among regulatory bodies to share data, experiences, and attack models.

Phuong Dung