The Vietnam e-Commerce and Digital Economy Agency under the Ministry of Industry and Trade and Amazon Global Selling Vietnam on June 8 launched a cross-border e-commerce initiative in the breakthrough era.
The initiative is intended to help Vietnam develop workforce for this kind of commerce in the next five years, thus raising the capacity of local enterprises and opening up export opportunities for them.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan described digital platforms as an effective solution for businesses to penetrate and expand markets as Vietnam is integrating intensively and extensively into the global economy.
E-commerce sales worldwide are expected to amount to US$7.38 trillion by 2025, he said, noting that this form in Vietnam has also made big strides over the past years, significantly contributing to spurring domestic economic development and boosting the digital economy in the post-pandemic recovery.
Last year, Vietnam earned US$13.7 billion from online retail sales, up 16%, and the value is expected to climb to US$35 billion by 2025, with the annual growth rate of 25% between 2022 and 2025.
The initiative is expected to support local firms in digital transformation and equip them with knowledge about export-import and market, and gradually build Vietnamese brands in the global market.
Gijae Seong, head of Amazon Global Selling Vietnam, said the initiative aims to help 10,000 Vietnamese enterprises with personnel development in e-commerce during the 2022-2025.
The Amazon initiative is scheduled to last for five years, with both online and in-person training courses. It will come to Ho Chi Minh City, Da Nang city and some other localities this year.
According to a report released by Amazon on this occasion, Vietnam’s cross-border retail sales increase over 20% annually, hitting VND75.4 trillion (US$3.3 trillion) last year, and is projected to reach VND256.1 trillion in 2026.
Notably, cross-border e-commerce will grow strongly in the Southeast Asian nation in the next five years.