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and Vietnam's current context, the paper suggests policies to advance Vietnam's
digital economy in the future.
The remaining sections of this article are structured as follows. The next section
outlines the study methodology and data resources, followed by the presentation of
results and discussion, focusing on digital economy policies and situations in Singapore
and Malaysia in Section 3. Section 4 presents policy implications for Vietnam's digital
economy.
2. Research methodology and data sources
Data collection involves an inductive approach to reviewing documents on the
digital economy in Malaysia, Singapore, and Vietnam. Secondary data sources include
scientific journals, books, reports, and statistics agencies in Singapore, Malaysia, and
Vietnam, as well as regional and global databases like ASEAN, the World Bank, and the
United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). These
sources, known for their high reliability, are widely used in academic studies.
Data analysis combines qualitative methods with descriptive statistics (statistics,
comparison, analysis, synthesis, inference, and induction). The article examines data on
digital economy development in Malaysia, Singapore, and Vietnam through specific
indicators such as the digital infrastructure index, e-commerce share, or digital skills index.
Additionally, this study employs a comparative analytical approach to distinguish the
digital economy development among Vietnam, Malaysia, and Singapore.
3. Results and discussion
3.1. The development of the digital economy in Singapore
Singapore has undertaken numerous initiatives to advance the country's digital
transformation. In 2014, the Singaporean government launched the Smart Nation
Initiative, focusing on harnessing technology to transform the nation into a sophisticated
digital society with a high standard of living and a conducive business environment. These
initiatives span various sectors, including healthcare, transportation, and public services.
Singapore is actively promoting transformation in key industries such as finance,
healthcare, and tourism, as evidenced by programs like the Tourism Technology Fund, the
Healthcare Transformation Map, and the Financial Sector Technology and Innovation
(FSTI) plan (Putri et al., 2023). These initiatives aim to leverage technology for digital
transformation across government, economy, and society. A significant initiative is the
introduction of Singpass, a national digital identification card, recognized as a model for a
strong foundational digital ID (World Bank Group and GovTech, 2022). Following Smart
Nation 1.0, the country unveiled Smart Nation 2.0 in 2024. While the first phase, Smart
Nation 1.0, focused on infrastructure and service digitalization, the new phase
emphasizes the human impact of technology through three main goals: Trust (creating a
Safe and Reliable Digital Space), Growth (driving the Economy and Workforce), and
Community (fostering an Inclusive Society) (Government of Singapore, 2025).
Singapore is also encouraging investment in developing advanced digital
infrastructure, including the rollout of 5G networks and high-speed broadband systems.
This effort is anticipated to support the growth of the digital economy and provide
advanced digital services to citizens.
Additionally, the government has enacted policies to foster innovation and
entrepreneurship in the digital economy. Recognizing the crucial role of small and
medium enterprises (SMEs) in GDP and employment, the government introduced the
SME Go Digital initiative in 2017. This initiative aims to help SMEs adapt to rapid changes

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