Vietnam’s small businesses have emerged as Asia-Pacific leaders in adopting artificial intelligence (AI) and digital technologies, according to CPA Australia’s latest Small Business Survey.
The 2024 survey, which covered 11 Asia-Pacific economies, found Vietnam ranked first in the region for AI investment and adoption among small enterprises. Nearly 44% of Vietnamese small firms said AI was their biggest tech investment last year – double the rate in 2023 – and almost half are now using AI tools for business guidance. This aggressive embrace of AI is well ahead of regional peers; as CPA Australia CEO Chris Freeland noted, Vietnamese entrepreneurs’ willingness to quickly integrate new technologies like AI is “positioning them as regional leaders”
Tech-Savvy Entrepreneurs Driving Rapid Adoption
The survey highlights that Vietnam’s tech-savvy, youthful entrepreneurs are spearheading a broader digital transformation in the small business sector. Vietnamese SMEs (small and medium-sized enterprises) rank at or near the top region-wide in all key tech metrics – from online commerce and social media engagement to offering digital payment options . Over 90% of Vietnam’s small businesses now earn more than 10% of their revenue through online channels, and 84% receive a significant portion of sales via cashless payment platforms . Local e-wallets such as MoMo, Moca and ZaloPay have become ubiquitous tools for these companies to reach customers and facilitate transactions. The payoff from going digital is clear: 88% of Vietnamese small businesses reported that their tech investments in 2024 directly improved profitability  – one of the highest rates among the surveyed economies.
Freeland attributes Vietnam’s strong tech adoption to its dynamic business culture. “Vietnam’s small business sector is driven by dynamic and youthful entrepreneurs that embrace technology and innovation. Their ability to adapt quickly and invest in digital solutions is positioning them as regional leaders,” he said. This mindset has kept Vietnam’s SMEs ahead of the curve in e-commerce, social media marketing and fintech usage, giving them a competitive edge in both local and foreign markets.
E-Commerce Boom and Digital Payments Dominate
The digital economy’s rise in Vietnam is evident in the online sales figures. A vast majority of small businesses have integrated e-commerce into their operations – 91% of Vietnamese firms said over 10% of their revenue now comes from online sales. This is a sharp increase from the previous year and underscores how platforms from Facebook shops to e-marketplaces are driving growth. Equally notable, 84% of Vietnam’s small businesses received at least 10% of their sales via digital payment platforms, reflecting the country’s rapid shift toward cashless transactions. Services like MoMo, Moca and ZaloPay are commonly used by these businesses to streamline payments. By leveraging social media and online marketplaces, even the smallest companies can reach nationwide customer bases, contributing to Vietnam’s leading position in the region for e-commerce and digital integration.
The benefits of this online shift are clear in the bottom line. Business owners report that selling online and adopting digital payments have expanded their customer reach and improved efficiency. It’s one reason Vietnamese SMEs saw robust performance in 2024 and remain bullish on the future. “Small businesses in Vietnam are at or among the top in the Asia-Pacific region in all indicators of technology adoption,” Freeland observed, pointing to their outperformance in online sales and digital engagement . The ability to capitalize on internet-driven opportunities has been a vital growth engine for these firms.
Cybersecurity Risks Rise with Digital Growth
The flip side of rapid digitalization is heightened exposure to cyber threats. 60% of Vietnam’s small businesses reported losing time or money to a cyberattack in 2024, a troubling figure that is the second-highest among the surveyed Asia-Pacific markets (the regional average was just 40%). As companies put more of their operations online, criminals have taken note – from phishing scams targeting e-commerce operations to ransomware attacks on digital payment systems. In response, a majority of Vietnamese SMEs have been shoring up their defenses; 62% reviewed their cybersecurity measures in the latter half of 2024. Yet concerns remain elevated. A whopping 68% of Vietnam’s small businesses expect to be targeted by cyberattacks in 2025, the highest level of cyber-attack expectation in the region .
Freeland cautions that cybersecurity needs to become a top priority alongside business growth. Given Vietnamese SMEs’ widespread tech use, “proactively enhancing security measures is essential to protect growth and maintain customer trust,” he emphasized. Analysts note that many small firms, in Vietnam and elsewhere, often lack dedicated IT security staff, making regular security audits and employee training vital. The survey’s findings have prompted calls for greater awareness and investment in cybersecurity tools to ensure Vietnam’s digital success story isn’t derailed by cyber losses.
Record Optimism and Global Ambitions for 2025
Thanks in part to their tech-fueled gains, Vietnamese small businesses are entering 2025 with record-high optimism. An overwhelming 92% of SMEs expect to expand their business in 2025, the highest proportion among the 11 Asia-Pacific economies surveyed. Confidence in the broader economy is similarly unmatched – 93% of Vietnamese small business owners believe the national economy will grow this year, far above the regional average of 67% . This sunny outlook is backed by concrete expansion plans. Many companies are eyeing overseas markets for growth: 28% of Vietnam’s small businesses anticipate a strong increase in international sales in 2025, up from just 15% in 2024. The jump in expected export revenue signals that even micro and small enterprises are starting to think beyond domestic borders, aided by e-commerce and Vietnam’s integration into global supply chains.
Industry observers say Vietnam’s youthful entrepreneurs and their adaptability are key drivers of this confidence. By embracing technology and innovation, they have not only rebounded strongly from the pandemic years but are setting their sights higher. The survey results show that Vietnam’s small firms have the digital savvy and ambition to punch above their weight internationally. “Vietnam’s small businesses are increasingly willing to experiment and integrate technologies like AI into their operations,” Freeland said, praising their innovative spirit. If these trends continue, Vietnam’s small business community is poised to remain a regional powerhouse – leading in tech adoption, prospering in the digital economy, and confidently expanding on the world stage.
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Source: Vietnam Insider