In light of a boom in e-commerce across Southeast Asia, Vietnam as the ASEAN chair in 2020 is determined to encourage the growth of cross-border e-commerce across the region.

Vietnam’s B2C e-commerce revenue rose by 25 percent to 10.08 billion USD in 2019, according to the e-Commerce White Book 2020 released by the Ministry of Industry and Trade (MoIT)’s e-Commerce and Digital Economy Agency (iDEA).

Vietnam’s e-commerce saw a 30 percent growth rate from 2016 to 2020, according to the Ministry of Investment and Planning. The country aims to have 55 percent of population shopping online by 2025.

Selling goods through live streaming, which has exploded in the Chinese market, has become popular in Southeast Asia, including in Vietnam, reported Nhip Cau Dau Tu (nhipcaudautu.vn).

Attending a workshop discussing the laws held by Vietnam Consumer Protection Association in Ha Noi last week, experts said more effective solutions are needed to protect consumers.

More food products have been bought online since the COVID-19 outbreak, online sellers have said.

The merger will make the race in the e-commerce market more exciting.

Despite the impact of the COVID-19 pandemic, the retail market in Vietnam in the first quarter of this year still recorded positive results from e-commerce, online shopping and delivery services.

Following the hottest M&A retail deal of Vingroup and Masan in early 2020, the merger of Tiki and Sendo is expected to make the competition in e-commerce industry fiercer.

Vietnam is aiming to have 55 percent of its population shopping online by 2025, with average consumer spending rising to 600 USD per year, according to a master plan on e-commerce development for 2021-2025.

The e-commerce market in HCM City has developed significantly, with total online spending growth up by more than 12 percent annually since 2015, according to the municipal Department of Industry and Trade’s report on e-commerce development.

Influenced by the pandemic, many agricultural production firms and cooperatives are developing their online trading channels to boost sales.

Online markets within apartment buildings are booming during the social distancing period, as more and more people are staying indoors and buying goods from their neighbours.

The Ministry of Industry and Trade has been cracking down on profiteers for selling face masks, hand sanitisers and other items for inflating prices due to the high demand caused by the ravaging COVID-19 epidemic.

Businesses now have bigger choices for retail premises as the rent has decreased significantly.

VietNamNet Bridge - Young consumers with the habit of using smartphones are expected to be a new source of business growth. 

VietNamNet Bridge - Online shopping services are expected to boom in the next five years.

VietNamNet Bridge - A Google representative said that in the near future, Vietnam’s e-commerce performance will be ‘mobile only’.

VietNamNet Bridge - HCMC authorities are considering working with Facebook on a policy which would control revenue from sales on the social network.

 China's most valuable online finance company, Ant Financial, is looking to raise more than $3 billion in debt to fund international expansion, according to technology news website The Information.