The company’s website recently updated information indicating that local advertisers will now handle tax procedures through Google Vietnam Co., Ltd., replacing the previous arrangement with Google Asia Pacific. This transition will take effect from April 1. Meanwhile, partners are subject to a 10% tax rate as per Vietnamese regulations starting March 1.  

A Google spokesperson confirmed the company's presence in Vietnam on December 6, stating that a local team is now in place to better serve advertisers and support the country's digital transformation.

According to Vietnam’s tax code registry, Google Vietnam, headquartered in Ho Chi Minh City, was registered in May 2023.

Marc Woo, Google’s managing director for Vietnam and the Asia-Pacific region, revealed that he has relocated from Singapore to Ho Chi Minh City. A Google-branded office has been set up in District 1, Ho Chi Minh City, and the company is currently recruiting for various positions related to Google Cloud, Applications, and Games.  

Vietnam is regarded by Google as a rapidly growing digital economy and one of the leading markets in Southeast Asia. Additionally, there has been significant interest from both users and the government in artificial intelligence (AI) throughout 2024.  

The e-Conomy SEA 2024 report, published in November by Google, Temasek, and Bain & Company, projects that Vietnam’s gross merchandise value (GMV) will grow at a compound annual growth rate of 16%, reaching 36 billion USD by 2024. Specifically, the domestic online media sector is on track to hit 6 billion USD, with a 14% compound annual growth rate compared to last year, and is expected to reach 11 billion USD by 2030.  

“Vietnam’s digital economy continues to achieve double-digit growth despite global economic uncertainties,” remarked Marc Woo. He noted that Vietnam’s online media sector is the fastest-growing in Southeast Asia, with an increasing number of Vietnamese developers gaining global recognition for their popular applications used worldwide.