Vietnam’s e-commerce to earn $10 billion by 2020

Vietnam’s e-commerce is forecast to gross $10 billion by 2020. Significantly, e-commerce has offered more opportunities to Vietnamese enterprises even small-scale enterprises to sell commodities to any nation with meager expense.

Vietnam’s e-commerce to earn $10 billion by 2020

In addition to traditional export, e-commerce is becoming a pivotal channel for international exporters with annual growth rate of 20 percent – 30 percent achieving thousands of billions of dollar.
Many of Vietnamese enterprises have also taken advantage of this trend.
Sharing her success in selling in Amazon, Ms. Han Nguyen, co-founder and CEO of Andre Gift Shop said that markets in abroad of the product is more enormous than Vietnam and revenue from Amazon accounted for approximately 70 percent of the company’s e-total commerce in 2018. E-commerce helps the company to get access to huge number of customers in the globe as well as saving cost of marketing. What is more, the company has learned more about how to operate professionally through customers’ feedbacks.
Meanwhile Business Deputy Director of Food Company Vo Thi Thanh Huyen applied for the program to support small-and medium-sized enterprises (SME) in Vietnam to expand their business globally and build their international trademarks jointly organized by the Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade and Amazon Global Selling.
Huyen added the company has introduced its products in Alibaba since the end of 2018 having positive sign in exporting to Japan, the US, England and Australia.
The Ministry of Industry and Trade’s statistic has shown that nearly of 700,000 Vietnamese enterprises, small-and medium-sized enterprises account for 98 percent. Though these enterprises have gradually played important role in the country’s economy, many of them bumped into difficulties in selling commodities in global markets or setting up online selling channels. The most difficulties which Vietnamese firms are facing are international logistics and quality controlling management.
To sell their commodities in e-commerce channels, Vietnamese enterprises ought to abide by origin and quality regulation. Moreover, they should take heed of service after selling goods. Brand names are qualified with after-sale services. Furthermore, enterprises should learn foreign languages as well as to build brand names to make most use of e-commerce.
VIETTRADE Deputy Director Bui Thi Thanh An said that her agency has connected with Amazon Global Selling with the aim to help Vietnamese firms to promote export through e-commerce. In 2019, the agency and Amazon Global Selling planned to organize more programs to support enterprises to sell products in Amazon.com’s retail channel as well as provide information of export and guidance of selling in internet.
With the plan, the Ministry of Industry and Trade expected to bring more opportunities for firms in the field of handicrafts, garment and textile, leather and consumer commodity.
Sale director Gijae Song said that through Amazon Global Selling , companies in the world can get access to 300 million consumers with more than 100 million VIP consumers in countries and millions of wholesale agents in the US. Europe and Japan.
Simultaneously, Amazon Global Selling has established supporting ground for participant enterprises with good logistics service and exporting facilitating international businesses via 175 centers in the world as well as helping sellers to bring products to consumers in 185 nations and regions.
Last year was a successful year of Vietnamese enterprises earning $243.48 billion on export increasing 13.2 percent year on year thanks to the government, ministries ‘s support and enterprises’ activeness in promoting and expanding markets through commerce .

BY MINH HAI - Translated by DAN THUY

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