Vietnam ranks among top 5 economies with leading e-commerce growth globally
With an average growth rate of 20% per annum, Vietnam is ranked among the top five countries recording the highest e-commerce growth in the world.
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| With an average growth rate of 20% per annum, Vietnam is ranked among the top five countries recording the highest e-commerce growth in the world. |
The information was revealed at a training workshop on promoting exports for Amazon businesses and traders in Hanoi on August 10.
Disclosing the news, Nguyen Van Thanh, director of the Centre for E-commerce Development under the Vietnam E-commerce and Digital Economy Agency (iDEA), said that cross-border e-commerce is a booming trend in many countries around the world, including in Vietnam.
In Vietnam, he said cross-border e-commerce is considered a field that has great potential and is in line with the digital economy development policy adopted by the Government. The export value of Vietnamese businesses selling items on Amazon increased by more than 45% in 2022.
According to the expert, the Vietnam E-commerce and Digital Economy Agency, an arm of the Ministry of Industry and Trade, is still promoting the implementation of projects to assist Vietnamese import-export businesses to engage in e-commerce by providing trading opportunities for the businesses through the import-export portal vietnamexport.com, as well as providing a platform for them through ecvn.com or ifair.vn.
In addition, the iDEA and Amazon Global Selling are working on the cross-border e-commerce initiative in a breakthrough era, aiming to support the development of human resources for cross-border e-commerce for Vietnamese businesses in the 2022 – 2026 period, so as to help improve the capacity and open up export opportunities for local businesses through e-commerce.
Do Hong Hanh, director of strategic partnerships of Amazon Global Selling Vietnam, revealed that many of Vietnamese goods such as home decorations, blankets, bed sheets, interior decorations and kitchen utensils are preferred on Amazon.
To win Amazon customers’ hearts, she suggested that businesses should focus on key products suitable to the tastes of international consumers, especially products derived from nature combined with the sophistication and ingenuity of artisans.
According to the latest research from Access Partnership, Vietnam’s e-commerce export revenue is likely to rise to VND296.3 trillion (US$13.1 billion) by 2027 if local businesses are fully enabled and accelerate the rate at which they adopt e-commerce to export their products and services.
The research conducted on around 300 domestic micro, small, and medium-sized enterprises (MSMEs) in Vietnam found that 86% believe that without e-commerce, they would be unable to export at all as they lack capacity. Local MSMEs are also looking towards expanding their footprint in more markets such as the US, Japan, and European countries over the next five years.
(Source: VOV)
