Mobile-mad Vietnam's economy to get $5.1-bln online boost: researchers

By    August 3, 2016 | 02:52 am PT
Mobile internet is having an ever-increasing impact on Vietnam's economic growth.

Vietnam’s economy is set to gain an additional $5.1 billion by 2020 due to mobile internet growth, said researchers from Oxford Economics at a workshop in Hanoi Tuesday.

The mobile internet sector is expected to contribute an amount equivalent to 6.2 percent of GDP to the country’s economic growth, and also create 145,600 jobs for the Southeast Asian country from 2015-2020, according to the researchers.

Rapidly growing mobile internet has generated roughly $3.7 billion and provided around 140,000 new jobs for Vietnam since 2010, Oliver Salmon, senior economist at Oxford Economics, said.

Mobile subscription rates in Vietnam have doubled over the past five years and now 4 out of 10 people are active users.

According to Internet World Stats, Vietnam, with a population of over 90 million, is currently ranked 18th in the world in terms of the number of internet users, with more than 49 million people surfing the internet. 

Mobile internet helps people in remote areas to get access to the labor market and small and medium-sized companies to have more information in search of new customers and new markets.

“Vietnam represents a strong growth opportunity for mobile internet technology” and "the growth of the industry in the country seems to match with the development of the sector among Southeast Asian countries," the research found.

The mobile internet sector has created $42.7 billion and 900,000 jobs in Southeast Asia over the past five years. The business is expected to generate $58 billion and one million new jobs for the region from 2015-2020.

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