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Market brief

Vietnam

E-commerce projected at $32 billion in 2026, up from $21 billion in 2024.

Vietnam’s digital economy is projected at $49 billion GMV in 2026, with e-commerce at $32 billion. The rules are changing: low-value express imports lost their VAT exemption in February 2025, and a personal data protection law took effect on 1 January 2026.

Peacroft does not currently operate in Vietnam. This brief summarises public sources to start a conversation. It is not investment, legal or tax advice.

Ho Chi Minh City
Location of Vietnam. Map: Natural Earth (public domain), simplified.

Digital indicators

Online commerce

  • E-commerce GMV: $21 billion in 2024, $26 billion in 2025 and a projected $32 billion in 2026.1
  • Since 18 February 2025, goods imported by express with a value under VND 1 million no longer qualify for the VAT exemption.4
  • NAPAS, Vietnam’s national payment network, runs QR payment links with Thailand, Laos, Cambodia and China.6
  • The Law on Personal Data Protection took effect on 1 January 2026. Fines for breaking the rules on cross-border data transfers can reach 5% of the previous year’s revenue.5

Opportunities

  • One of the fastest-growing e-commerce markets in the e-Conomy SEA report, from $21 billion to a projected $32 billion in two years.1
  • QR payment links with neighbouring countries make regional payments simpler.6

Challenges

  • Tax and data rules changed in 2025–2026. Plan for VAT on low-value imports and for data-protection compliance.45
  • About three in ten adults had no account in 2024, so offer payment options beyond bank cards.3

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Sources

  1. e-Conomy SEA 2026: Vietnam country report(opens in a new tab)Google, Temasek and Bain & Company · Published 21 October 2026 · Accessed 14 November 2026
  2. Individuals using the Internet (% of population)(opens in a new tab)World Bank, World Development Indicators (data from ITU) · Published 11 November 2026 · Accessed 14 November 2026
  3. Account ownership (% age 15+)(opens in a new tab)World Bank, Global Findex Database 2025 · Published 2025 · Accessed 14 November 2026
  4. Viet Nam to impose VAT on low-value express imported goods(opens in a new tab)Viet Nam News · Published 15 February 2025 · Accessed 14 November 2026
  5. Presidential Office announces 18 new laws (including the Law on Personal Data Protection)(opens in a new tab)Government of Viet Nam (baochinhphu.vn) · Published 11 July 2025 · Accessed 14 November 2026
  6. NAPAS expands cross-border QR payment between Vietnam and China(opens in a new tab)NAPAS (National Payment Corporation of Vietnam) · Published 6 April 2026 · Accessed 14 November 2026

Sources checked: