Addressing the topic of the e-commerce platform Temu, which recently entered the market with ultra-low prices, Deputy Minister of Industry and Trade admitted that even he was "shocked." As for whether it will impact the domestic market, further investigation and research are needed.

Launched in 2022, Temu - a cross-border e-commerce platform - quickly gained attention with its model of offering low-priced goods and free shipping. Through competitive pricing, strong marketing campaigns, and supply chain optimization, Temu has made rapid progress.

The two-year-old Chinese "newcomer" has already entered markets such as the U.S., South Korea, and Indonesia. Now, it is making a significant push into the Vietnamese market, attracting attention with its extremely low-priced products, with some items priced so low they seem almost free, raising concerns.

During a regular press conference on October 23, Deputy Minister of Industry and Trade, Nguyen Sinh Nhat Tan, admitted, "Even I was surprised by how cheap the products on Temu are."

Deputy Minister Tan stated that, according to Government Decree 85 on e-commerce, platforms wishing to operate in Vietnam are required to register.

Regarding whether this e-commerce platform will affect the domestic market, further investigation and research are necessary. The Ministry of Industry and Trade has tasked the Department of E-commerce and Digital Economy to assess the potential impacts.

"The Ministry of Industry and Trade is implementing a project to combat counterfeit goods and protect consumers in e-commerce until 2025, assigning the General Department of Market Surveillance to address this issue," the Deputy Minister added.

A representative from the Department of E-commerce and Digital Economy stated that Temu has not officially announced its entry into the Vietnamese market. However, Vietnamese users can still install the app and make purchases.

The representative also mentioned that there has yet to be an assessment of the impact of Temu's ultra-low-priced products, as the platform has only recently appeared in Vietnam.

Tam An