Amazon will offer support to Vietnamese businesses to help them reach global markets. Photo by Reuters
These businesses will receive offline or online training, with in-depth support from Amazon and discounts from local service providers, according to a statement jointly released Wednesday by the Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Finance and Amazon Global Selling.
The program aims to help local businesses, especially in handicraft, textile, footwear and consumer goods, improve their export capabilities through selling on Amazon.
They will also have the opportunity to participate in the second stage of the program, which will help them develop their brands.
Other sellers who are interested can also join an online training program starting next month to get equipped with the basic knowledge of selling on Amazon.
Bernard Tay, Amazon’s regional director for Southeast Asia, said that the young, tech savvy population in Vietnam and strong development of the manufacturing sector generate great e-commerce potential in the country.
However, a lack of knowledge and experience prevents them from reaching out to the global market, he said.
Vu Ba Phu, director of VIETRADE, said that the support program will open up new potentials for local companies in expanding their businesses internationally.
There are 300 million Amazon accounts in 185 countries and territories at present. Amazon also has 175 fulfillment centers worldwide.
Vietnam has more than 700,000 businesses, of which 98 percent are small and medium enterprises, according to VIETRADE.
The country’s e-commerce market grew by 25 percent in 2017 and is expected to maintain this growth momentum over the next three years, according to the Vietnam E-commerce Association (VECOM).
It also estimates online retail revenues to hit US$10 billion by 2020, accounting for five percent of the country’s retail market.