Alibaba to double investment in emerging Vietnam market
VOV.VN - Alibaba.com, the global business-to-business (B2B) e-commerce platform of Alibaba Group, plans to double its investment in emerging manufacturing hubs across Vietnam.
This information was confirmed by an Alibaba representative at a press briefing on July 26 to unveil the group’s plans to expand operations in Vietnam over the coming three years.
Apart from staff based in Hanoi and Ho Chi Minh City, the group will also move to increase personnel in localities such as Binh Duong, Bac Ninh, Long An, Da Nang, and Hai Phong, said Roger Luo, director of Alibaba in Asia-Pacific.
The expansion of Alibaba.com's operations in the Vietnamese market will help small and medium enterprises (SMEs) to utilise the power of global e-commerce to grow beyond the domestic market, said Luo.
Moreover, Alibaba.com will also seek to recruit local human resources in order to provide proper services and support to Vietnamese exporters in these regions.
“Alibaba.com currently has more than 47 million buyers who are businesses from over 190 countries. With specially designed digital tools, Alibaba.com is the starting point for Vietnamese SMEs looking to enter the international market,” stressed Luo.
“Through doubling investment in emerging manufacturing hubs, we believe this move will attract more businesses to participate in global e-commerce,” he added.
According to Alibaba.com’s statistics, the average number of buyers of Vietnamese products increased by 55% in March compared to the same period from 2022, while the number of Vietnamese products available on the platform also increased by 24%.
At present, Vietnamese businesses enjoy advantages in fields such as agricultural products, food, fashion, handmade furniture, construction, architecture, and home garden products.
It was reported that the total number of transactions of buyers during the first six months of the year increased by 33% year on year.
Industry insiders pointed out that with the global market also witnessing a growth rate of up to 91% in online traffic, especially in emerging markets like Southeast Asia, there is a positive outlook ahead for Vietnamese products to go global.
