HANOI, Nov. 13 (Xinhua) -- Vietnam's gross merchandise value (GMV) is projected to grow at a compound annual growth rate of 16 percent, reaching 36 billion U.S. dollars in 2024, Vietnam News Agency cited the ninth edition of the e-Conomy SEA report on Wednesday.

E-commerce and online travel are the primary growth drivers of GMV, said the report.

Vietnam's online travel alone is expected to grow 16 percent year-on-year, reaching 5 billion dollars in 2024, significantly contributing to the overall GMV.

Vietnam is the fastest-growing online media market in Southeast Asia, with a projected GMV of 6 billion dollars in 2024 and 11 billion dollars by 2030, according to the report.

The report also pointed out that the ride-hailing business in Vietnam is becoming more competitive due to the rise of local companies and electric vehicles.

The GMV in transport and food delivery is expected to reach 4 billion dollars in 2024, a 12 percent increase over the previous year. Enditem

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