Vietnam’s e-commerce is expected to continue to grow this year

According to a report from Vietnam’s “Vietnam News” on January 26, Vietnam’s Ministry of Industry and Trade (MoIT) plans to accelerate the implementation of the national e-commerce development master plan for 2021-2025 to keep up with the growth of digital transaction activities.

The Director of the Department of E-commerce and Digital Economy of the Ministry of Industry and Trade stated that in 2020, 53% of the population will use online shopping. Despite the impact of the new crown pneumonia epidemic, local e-commerce revenue increased by 18% to US$11.8 billion, accounting for 5.5% of the country’s total retail, consumer goods and services. With the support of electronic payment, the Ministry of Industry and Trade will focus on developing e-commerce infrastructure, establishing and improving e-commerce institutions and legal frameworks, and creating a transparent and favorable legal environment for Vietnamese businesses and consumers. He said that Vietnam is considered to be one of the fastest growing e-commerce markets in Southeast Asia. Vietnam has a population of over 97 million, with a high proportion of young people and a high Internet usage rate. The e-commerce market will continue to grow.

As one of the two major cities for e-commerce development, Hanoi plans to increase online retail sales by 20% by 2025. By then, 55% of people will participate in online shopping, and it is hoped that 50% of small and medium-sized enterprises will be on e-commerce platforms. To start business.

The relevant person in charge of the Hanoi Bureau of Industry and Trade said that they will continue to hold seminars and training courses on e-commerce for local companies, including many activities in cooperation with large digital platforms such as Google, Alibaba, and Amazon to improve their online operations. Performance.

The Bureau of E-commerce and Digital Economy of the Ministry of Industry and Trade will implement the GoOnline program in 2021 to support local enterprises. The target of the program will include telecommunications, technology and e-commerce systems, manufacturers, traders and individuals nationwide. The Ministry of Industry and Trade stated that it will strengthen coordination, inspection, review and handling of violations in e-commerce, and provide state management officials and e-commerce traders with further training on trademark protection to resolve disputes and complaints, and will help detect Counterfeit products, products of unknown origin and products that violate intellectual property rights.

Last year, after the approval of the EU -Vietnam Free Trade Agreement (EVFTA), the Ministry of Industry and Trade applied blockchain technology to track the origin of certain agricultural products in order to improve the brand and promote the export of agricultural products to developed countries. In addition, an overall solution has been established for the exchange of logistics services between logistics companies and shippers to promote e-commerce delivery services and support companies in applying technology to digital transformation.

 

 

Source: China – ASEAN Business Council