|Representatives of Alibaba (L) and Fado shake hands at a signing ceremony on March 14 in HCMC – PHOTO: LE HOANG
Local small and medium enterprises (SMEs) that do not have as enough experienced import-export employees as needed and have yet to receive insights on foreign markets can put up their products for sale on Alibaba’s online platform through the supported link at http://alibaba.fado.vn/.
Alibaba is among the world’s leading ecommerce platforms. Local businesses can promote their products to 260 million buyers from 240 countries and territories on the Alibaba platform.
Data from the General Statistics Office shows that the number of SMEs accounts for 98% of the 517,000 registered firms in the country. Further, 66% of the SMEs are super small businesses and find it difficult to export their products directly.
The cooperation between Alibaba and Fado is expected to help local SMEs gain knowledge and skills on cross-border ecommerce trading activities through training courses and workshops organized by Fado. Local firms can further export their goods using the online channel.
To export products successfully, a company should have production qualifications and professional skills related to promotions and marketing, enabling them to operate on international business-to-business or business-to-customer ecommerce platforms, according to Fado.
Earlier, in late 2018, Fado had signed an agreement with Alibaba to become its authorized partner, supporting and training local firms to introduce their products to international markets through the Alibaba platform. Fado has helped them sell Vietnamese products, such as footwear and handicrafts, to foreign buyers.