This paper explores the techno-economic factors that determine the diffusion of the Internet in Vietnam. Different statistical models have been estimated using data on Internet subscribers for the years 1997-2002. The basic findings provide strong support for the hypothesis that the adoption of the Internet follows a slightly elongated S-curve growth pattern over time. The analysis has shown that technological infrastructures and Internet access cost are relevant explanatory factors for the growth of Internet subscribers. Nevertheless, the premature saturation phenomenon suggests that other complex socio-legal and political factors emerging from Vietnamese history can contribute more comprehensive explanations for the low level of Internet diffusion.