AI Set to Contribute up to US$130B to the Vietnamese Economy by 2040
Vietnam’s AI economy is projected to reach US$120 billion to US$130 billion by 2040, driven by significant productivity gains and increased consumption. A report by the Vietnam National Innovation Centre (NIC), Japan International Cooperation Agency (JICA), and Boston Consulting Group (BCG) indicates that consumption-driven revenue will generate US$45 billion to US$55 billion, while productivity savings will contribute US$60 billion to US$75 billion. Key sectors like manufacturing, consumer products, financial services, and education are expected to see substantial AI contributions. This growth builds on Vietnam’s progress in AI adoption, especially in banking and healthcare, and its emerging startup ecosystem, which ranks second in Southeast Asia for generative AI startups.
Vietnam’s ambition to become a leading AI nation in Southeast Asia by 2030 is backed by a robust National AI Strategy and significant private sector engagement. The projected US$130 billion contribution to the economy by 2040 reflects a clear national commitment, with specific targets for data centers, research institutions, and AI application in government services. This top-down strategic push, combined with early adoption in sectors like banking where 74% of institutions actively deploy AI, suggests a strong foundation for growth. However, the success of this strategy hinges on addressing a critical AI talent shortage. The government’s national program to train 100,000 educators and 10 million workers in AI by 2030 is a necessary step. The real challenge will be ensuring the quality and relevance of this training to meet the demands of a rapidly evolving AI landscape, especially in cultivating the 1,500 experts needed for core technology development. International partnerships, such as Qualcomm’s R&D center in Hanoi and FPT’s collaboration with Mila, will be crucial in bridging this gap and fostering advanced AI capabilities within the country.
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