The COVID-19 pandemic has caused a serious effect to the economy, but it has helped accelerate the race for banks to go digital.
VOV.VN - It is estimated that approximately 55% of the country’s population will shop online by 2025, with the average citizen spending US$600 per year in line with the Government's goals.
While the COVID-19 epidemic has basically been controlled in Vietnam and business activities have resumed, the retail space market in Hanoi is gloomy with rentals down from 20-30 %.
While many workers in several industries in Ho Chi Minh City lost jobs in the first quarter amid the COVID-19 pandemic, recruitment demand in other fields rose.
VOV.VN - In recent years, craft villages in Ho Chi Minh City have introduced their products on online trading platforms. This has helped the villages trade efficiently and assert their brand value.
Recently, the online distribution channel of most supermarkets has posted fairly good growth as consumers have been avoiding going outside due to the Covid-19 outbreak.
The size of Vietnamese e-commerce market is likely to hit 13 billion USD this year thanks to a large percentage of young residents and internet subscribers, according to insiders.
Vietnam is planning to launch a VND136 billion (US$5.8 million) trade promotion programme in 2020, focusing on expanding key markets and enabling Vietnamese firms to join global value chains.
VOV.VN - The application of new technologies - artificial intelligence, big data, cloud computing and Internet of Things - is taking place across the globe.
The Vietnam E-Pavilion on e-commerce platforms was rolled out by the Ministry of Industry and Trade (MoIT)’s E-Commerce and Digital Economy Department in Ho Chi Minh City on December 2.
Sendo, Vietnam’s second-most visited online market place, has secured $61 million in the latest Series C funding round.
To dominate the cross-border e-commerce market, Amazon has set up a representative company in Vietnam, while Alibaba has organized a series of workshops.
The Ministry of Industry and Trade (MoIT) is building infrastructure for the national digital transformation process, focusing on smart manufacturing and smart energy, to develop the digital economy. Head of the MoIT’s E-Commerce and Digital Economy Department Dang Hoang Hai speaks with Vietnam News Agency about the ministry’s action plan in this area.
Despite non-stop spending, Lazada remains overwhelmed by local platforms Sendo and Mobile World, in addition to other players Shopee and Tiki.
VOV.VN - Vietnam is regarded as one of the fastest growing e-commerce markets in Southeast Asia, said Dang Hoang Hai, Director of the E-commerce and Digital Economy Agency (IDEA) under the Ministry of Industry and Trade at a workshop in Hanoi on October 18.
Despite the robust development of e-commerce, traditional trade channels have maintained their domination in Vietnam as they satisfy shopping habits of local consumers.
Under the influence of the fourth industrial revolution, the local retail sector is changing quickly and following four main trends, heard attendees at a recent seminar in Hanoi.
Vietnam’s internet economy is booming, as it reaches for US$12 billion in 2019 on a 38% annualized growth rate since 2015, and projected to increase to US$43 billion by 2025.
Hai Duong should focus on developing telecom and IT infrastructure to serve the development of e-Government, e-commerce and digital economy, Minister of Information and Communications Nguyen Manh Hung said on October 1.
As online commerce has boomed, agencies fear that it will be difficult to prevent banned goods, goods restricted for import and export, and origin fraud.