Amazon to set foot in Vietnamese e-commerce market

TIN LIÊN QUAN
	Thailand to host ASEAN's biggest event for retail business
	Korea Joins APEC Data Privacy Program

Amazon’s development strategy will be revealed at the Vietnam Online Business Forum, which will be held first in Ha Noi and then in Ho Chi Minh City. The forum will include discussions on online shopping trends, tax management, and new technologies.

Amazon is set to join Vietnam's fast-growing retail market this month by opening up its platforms to local small- and medium-sized enterprises.

The US giant is expected to sign a deal with the Vietnam E-Commerce Association at the Vietnam Online Business Forum in Ha Noi on March 14. The deal was discussed at a meeting late last year between the association and Amazon, according to Brand Finance Global Ranking.

(Photo: Reuters)

The Vietnamese e-commerce market grew by 25 per cent last year and is expected to maintain its growth in the next three years, according to the association. Revenue from online retail is forecast to hit $10 billion by 2020, accounting for 5 per cent of the country’s retail market. The thriving market has attracted global giants.

Last November, Chinese e-commerce conglomerate Alibaba signed an agreement with the National Payment Corporation of Vietnam (NAPAS) that will allow Chinese tourists to use the latter’s online payment platform when in Vietnam.

The deal came quickly after Alibaba founder Jack Ma visited Ha Noi and spoke at a prominent e-payment forum. Alibaba made a regional expansion push in 2016 by spending $1 billion on a controlling stake in Singapore-based online retailer Lazada, which also operates in Malaysia, Indonesia, the Philippines, Thailand, and Vietnam.

What if Chinese control the online retail market? Chinese online retailers are penetrating the Vietnamese market, putting pressure on domestically made products, analysts have warned.

Vietnam leads mobile e-commerce growth in Southeast Asia Vietnam is the fastest-growing market in South East Asia in terms of mobile e-commerce growth, says the latest report on Southeast Asia’s 2017 e-commerce status ...

PM Nguyen Xuan Phuc welcomes Alibaba Chairman Jack Ma Prime Minister Nguyen Xuan Phuc hosted a reception in Ha Noi on November 6 for Executive Chairman of the Chinese Alibaba Group Jack Ma who ...