return icon Vietnamnet.vn

E-commerce serves as a gateway for Vietnamese exports

E-commerce offers businesses, especially small and medium-sized enterprises (SMEs), a direct reach to international customers, boosts their sales, speeds up the marketing process and saves costs, experts have said.

E-commerce serves as a gateway for Vietnamese exports hinh anh 1

Vietnam's e-commerce market value will increase by more than 30 percent this year, exceeding 15 billion USD and reach 52 billion USD by 2025. (Photo: congthuong.vn)

 

Industry insiders were speaking at a seminar on exporting local goods through e-commerce, held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Innovative Hub Company in Hanoi on November 24.

In the context of the COVID-19 pademic, the supply chains are disrupted and e-commerce shows its superiority and strengths that can help SMEs continue their business, maintain operations and create a breakthrough more clearly, said Pham Hoang Tien, Director of the VCCI’s Small and Medium Enterprise Promotion Center.

Sharing how Singapore has practised effective e-commerce, Zoe Zuo, CEO of Innovative Hub said Vietnamese businesses need to acquire and do some things that are considered useful in Singapore with positive values to help promote the implementation of e-commerce in the country.

Zuo advised firms to select and carefully identify customers, focus on different groups and select products suitable for them, adding they should also select e-commerce platforms and interfaces appropriate to the objectives of the business and find qualified staff.

According to the Vietnam E-Commerce Association, the country's e-commerce market value will increase by more than 30 percent this year, exceeding 15 billion USD and reach 52 billion USD by 2025.

Doan Thuy, a representative of Glovimex which produces handicrafts for export, said her enterprise has accelerated transactions through e-commerce and reported positive results.

Thuy said e-commerce platforms have helped her overcome difficulties and maintain growth amid the pandemic.

Lawyer Le Trong Thiem, from the law firm LTT & Lawyers, said e-commerce transactions bring benefits but create many potential risks of cash flow, security on international payment transactions, transaction costs, technology risks or fraud and hackers.

Thiem recommended businesses develop a full, detailed and specific sales policy, learn and grasp the rules of the game and ensure the deadline to receive money in any transaction.

He added there should be a clear agreement with the partner while the enterprises must make a careful investment in technology and have knowledge about the geopolitical situation when trading via e-commerce.

The Asian Development Bank (ADB)'s Asian Development and Outlook 2020 Report forecasts that Vietnam's economic growth will reach 2.8 percent in 2020 amid a global economic slowdown due to COVID-19. The growth was expected to increase by 6.3 percent in 2021. Notably, the report assesses that Vietnam is showing stronger resilience compared to similar economies.

Like other countries, Vietnam faces a very difficult period with more risks of cybersecurity and also the dependence on digital technologies.

Trinh Minh Anh, Head of Office of the Inter-sectoral Steering Committee for Global Economic Integration suggested that the government should give priority to developing digital identity in Vietnamese, build smart barriers and strongly develop electronic payment methods.

Vu Tu Thanh, a representative of the US-ASEAN Business Council, said the pandemic is having uneven impacts in each geographical area and business sector, by firm size and by digital transformation level, so Vietnam should take its chance to take advantage of the digital economy.

With the scale of the local internet economy of 14 billion USD, which was increasing 16 percent from the previous year despite the pandemic, Vietnam was forecasted to reach a scale of 50 billion USD in the next five years and be second only to Indonesia in the regional digital economy.

“Doing business on digital platforms with goods and services transactions over the internet is a great opportunity for Vietnam," Thanh said./.VNA

Vietnam e-commerce expected to see boom

Vietnam e-commerce expected to see boom

Despite Covid-19, online shopping in Vietnam has been growing steadily. Analysts believe that online sales will soar in the last months of the year.

MORE NEWS

Vietnamese ICT enterprises more deeply involved in global value chain

Over 10 years ago, Vietnamese software companies performed only a few stages under orders from foreign partners but the work has now expanded.

China proposes re-signing protocol for seven kinds of Vietnamese fruit

China has proposed signing protocol for seven types of local fruit exported to the northern neighbour via official channels for stricter management, as is currently applied to durian and star apples.

10-year-old translator brings scientific knowledge closer to young readers

Children’s history book series, Unstoppable Us, by best-selling author Yuval Noah Harari, has been translated from English into Vietnamese by a 10-year-old translator and published by Omega Plus.

Floods kill five in central region

Heavy downpours and floods in the central region in the past few days claimed the lives of five people as of 5pm on December 6.

VIETNAM BUSINESS NEWS DECEMBER 7

Vietnam spends nearly 190 million USD on importing pork in ten months

Vinfast faces challenges in North America

North America is a promising market, but it is not easy to be successful because there are many rivals there.

Festivities celebrate holiday season in HCM City

HCM City is preparing to launch a series of festivities to celebrate the New Year and Tet holidays (Lunar New Year).

Young driver offers thousands of free rides for poor patients

Dang Xuan Hieu, 24, has for four years given free trips to thousands of poor patients in Ha Giang Province.

Policies take effect in December 2022

Below are among new policies on import and export nomenclature, electricity generation price bracket, and licenses to manufacture tobacco products taking effect from December.

Finance Ministry to raise taxes on land and housing

Taxes on land and housing in Vietnam are far lower than those in other countries, exposing the need for higher tax rates to improve fiscal revenues.

Vietnam, RoK enter new chapter of cooperation

Vietnam and the Republic of Korea have entered a new chapter in their relationship as they upgraded to a comprehensive strategic partnership during President Nguyen Xuan Phuc's official visit to the country.

Free piano class for the elderly in HCM City

A piano class has been run free-of-charge for elderly people in Ho Chi Minh City for the past five years.

Business safety in the digital age

Vietnamese businesses are facing challenges related to cyber security and difficulties adapting to digital transformation.

Tax refunds worth trillions of VND

Tax bodies are working on problems related to VAT refunds in order to help businesses get money to invest in operations, following a dialogue held last week.
back_to_top