Vietnam’s e-commerce sector is leading Southeast Asia in optimism despite regulatory challenges, highlighted in a report published in October 2025.
This optimism suggests a robust digital economy potential, reflecting increased confidence among industry leaders and consumers amid regulatory hurdles, which may influence regional market strategies moving forward.
Vietnam has emerged as a leader in e-commerce optimism in Southeast Asia. Regulatory challenges persist, yet the e-commerce sector demonstrates strong growth potential. According to data, the sector is projected to reach $49.9 billion by 2028.
“Vietnam’s e-commerce market is entering a new phase of growth. Shoppers are more confident, diverse, and digitally savvy—from how they browse to how they pay. This report helps businesses tap into these evolving behaviors and make smarter, shopper-first decisions.” — TGM Research, Executive Statement, TGM Research TGM Research Press Release June 2025
Key players like Shopee, Lazada, and TikTok Shop dominate the market. Despite regulatory hurdles, digital buying and payment platforms continue to expand, driving a new phase of growth in Vietnam’s e-commerce landscape.
Vietnam Leads Southeast Asia in E-Commerce Optimism
85% Experts Optimistic Despite VAT Challenges
Compliance issues, notably VAT withholding, challenge the industry. However, 85% of surveyed experts express optimism about overcoming these hurdles. The rise of digital payments is gaining momentum, although cash on delivery remains prevalent.
Institutional investment supports market growth, with a focus on Gen Z and Millennials. Primary data indicates a shift towards digital payment solutions, but traditional payment methods still retain a strong foothold.
Vietnam’s E-Commerce Resilience Outshines Neighbors
Vietnam’s response to regulatory changes contrasts with past Southeast Asian experiences, such as in Indonesia and the Philippines. The Vietnamese e-commerce sector’s resilience and adaptation stand out, showing stronger optimism than elsewhere in the region.
According to Blackbox Research, Vietnam’s entrepreneurial spirit and efficient logistics networks fuel robust optimism, despite short-term challenges. The country’s strategic positioning is expected to ensure continued market expansion.
“Vietnam’s entrepreneurial dynamism, robust logistics networks, and adaptive digital businesses are powering optimism even amid short-term pain.” — Blackbox Research, Executive Summary, Blackbox Research Blackbox Report, October 15, 2025
For more comprehensive insights, explore the Vietnam E-Business Report 2025 Highlights and Key Findings.
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