Visitors try out games developed by Vietnamese companies at the Autumn Fair 2025 in Hà Nội. — VNA/VNS Photo Khánh Hoà

HÀ NỘI — Việt Nam is rapidly emerging as one of the world’s leading mobile game production hubs, but analysts say the gaming industry still lacks the professional ecosystem to build global competitiveness.

According to the Vietnam Mobile Game Industry Report 2025 released by GameGeek, Vietnamese developers launched 27,388 new mobile games in 2025, up 13 per cent from a year earlier, ranking 33rd.

Vietnamese-made games also recorded 4.9 billion global downloads last year, making Việt Nam the world’s second-largest market by mobile game downloads, equivalent to around 9,300 downloads per minute.

The report also showed the sector was shifting toward more sustainable monetisation models. In-app purchase (IAP) revenues rose around 83 per cent from 2024, while many studios began moving away from advertising-only models toward hybrid monetisation strategies combining ads and direct purchases.

Casual, puzzle and arcade games remained the dominant segments, accounting for roughly 66 per cent of total downloads.

But despite the strong headline growth, industry experts say Việt Nam’s gaming sector still faces structural weaknesses, particularly the lack of international networking platforms, specialised mentoring systems and long-term support mechanisms for developers.

Vũ Minh Hạnh, director of GameGeek, said Việt Nam is transitioning from large-scale production toward deeper and more sustainable products.

The next opportunity lies in attracting international investment and benefiting from stronger government support policies, she added.

New growth engine

The sector is attracting increasing attention from the Government in the context that Việt Nam is promoting the development of the digital economy

At the recent Vietnam GameVerse 2026, industry experts estimated Việt Nam’s gaming industry generated around US$1.66 billion in revenue in 2025, with annual growth projected at nearly 10 per cent through 2029, when the market could reach $2.42 billion.

Vietnamese titles such as Flappy Bird, Axie Infinity and Magic Tiles have already demonstrated the country’s ability to create globally successful intellectual property.

Lê Quang Tự Do, Director of the Authority of Broadcasting and Electronic Information under the Ministry of Culture, Sports and Tourism, said the current period offered favourable conditions for Vietnamese gaming companies to expand partnerships, attract investment and target international markets.

Việt Nam has identified gaming as one of six priority cultural industries eligible for state support and investment incentives, he said. Companies investing in games that incorporate Vietnamese historical and cultural content would also qualify for preferential corporate tax policies.

Statistics showed that the global gaming industry currently generates around $200 billion in annual revenue, making it one of the world’s largest entertainment sectors.

Esports, one of the fastest-growing segments of the industry, is also generating expanding economic value globally through streaming, marketing, advertising, event organisation and cultural promotion.

According to Business Research Company, the global esports market was estimated to generate around $3 billion in revenue in 2025 with a compound annual growth rate of 19 per cent.

In Việt Nam, around 28.2 million people currently participate in gaming and esports-related entertainment, equivalent to nearly 30 per cent of the population, according to Statista. Domestic esports revenue is expected to reach $10 million by 2030.

While the industry is becoming an increasingly important pillar of Việt Nam’s digital economy, policymakers and legal experts caution that rapid expansion also raises regulatory challenges, particularly around data protection and content governance.

Nguyễn Huyền Minh, senior lawyer at BMVN International LLC, said gaming companies would need clearer legal frameworks for collecting, processing and sharing user data, especially as personalised advertising and behavioural analytics become more widespread.

Workforce development would also remain critical as Việt Nam seeks to move beyond outsourcing toward building globally recognised game studios and long-term intellectual property, according to Lã Xuân Thắng, publishing director at VNGGames, a subsidiary of VNG.

Deputy Minister of Culture, Sports and Tourism Hồ An Phong recently said that Việt Nam needs to strengthen control over content creation and establish clearer regulatory direction to prevent negative consequences to ensure the right-track development of the gaming industry.

He said that alongside opening the market to international developers, Việt Nam would need stronger state support policies and closer coordination between businesses, regulators and media organisations to build a healthy and professional esports ecosystem. — VNS