The Department of E-commerce and Digital Economy under the Ministry of Industry and Trade (MoIT) has announced that the 2024 E-commerce and Digital Economy Forum will take place on November 21 in Hanoi.

Minister of Information and Communications Nguyen Manh Hung has proposed that YCH Group help Vietnam build a comprehensive supply chain platform to help small and medium sized enterprises export products.

Vietnam’s e-commerce market is estimated at 22 billion USD this year, ranking third in Southeast Asia behind Indonesia (65 billion USD) and Thailand (26 billion USD).

Vietnam’s e-commerce market remains fiercely competitive as global giants vie for dominance, with new entrants joining the fray and established players retreating.

A wave of cheap goods on Chinese e-commerce platforms, such as Taobao, 1688, Shein and Temu, has forced Vietnamese businesses to enhance their competitiveness in the domestic market.

The national e-commerce week will take place from November 25 to December 1, while the Vietnam Online Friday 2024 will run from the beginning of November 29 to noon of December 1.

Vietnam’s General Department of Taxation reported a 38% growth in e-commerce tax revenue, thanks to improved monitoring and data analysis.

The Ministry of Industry and Trade raises concerns over the potential impact of Temu's low-cost strategy on local businesses.

VN is currently among the top 10 countries with the highest e-commerce growth rate in the world with revenue reaching nearly VNĐ498.9 trillion (US$20.1 billion) in 2023.

Vietnam has one of the most dynamic live commerce markets globally, driven by its growing population, tech-savvy culture, and an expanding base of discerning young consumers, experts said.

In H1/2024, billions of USD worth of small-scale goods crossed VN borders each month, leaving a massive gap in tax revenue. As other countries close tax loopholes on small-value imports, VN faces increasing pressure to amend outdated tax policies.

Minister of Information and Communications Nguyen Manh Hung says that if farmers are accompanied by tech firms, tea production and distribution will improve, bringing higher profits to farmers.

The General Department of Taxation has gathered data from 140 million online business accounts. Tax revenues from e-commerce continue to rise, exceeding VND 50 trillion in the first half of 2024.

Digital transformation is an inevitable trend that changes the way goods and services are consumed and supplied, especially activities on digital platforms, making tax management more complicated.

Businesses have been advised to pay more attention to narrow the gap in exporting Vietnamese goods to the world through digital platforms.

Vietnam is on the cusp of an online export revolution, buoyed by supportive government policies and abundant production capacity, according to industry experts.

The Gross Merchandise Volume (GMV) on the four largest platforms, Shopee, TikTok Shop, Lazada and Tiki, reached VNĐ87.37 trillion (US$3.6 billion) in the second quarter of this year.

Vietnamese SMEs' (small and medium enterprises) online exports have been increasing, and are expected to help raise Vietnam’s cross-border e-commerce value to $10 billion by 2026.

Vietnam, along with Thailand, are the two fastest growing e-commerce markets in Southeast Asia, according to the recently released report '2024 E-commerce in Southeast Asia' by Momentum Works.