Challenges behind the boom

Cross-border e-commerce is emerging as a powerful tool for Vietnamese businesses to access and compete in international markets. With B2C e-commerce revenue growing by over 20% annually, reaching US$3.3 billion in 2021 and projected to hit US$11.1 billion by 2026, it represents a significant opportunity for export growth.

In 2024 alone, the Vietnamese e-commerce market is expected to bring about US$25 billion in revenue, accounting for 9% of total retail sales.

Despite this rapid growth, many local enterprises remain dependent on foreign platforms, lack legal expertise, and face challenges in logistics and international data management. This leaves them vulnerable in a global marketplace that demands high standards and strategic capability.

According to the Vietnam E-commerce Index 2024, while domestic e-commerce is booming, its expansion into cross-border markets remains constrained by a persistent digital divide coupled with a shortage of skilled human resources. Data from Access Partnership in 2023 revealed that Vietnam’s B2C cross-border e-commerce exports were valued at approximately US$3.3 billion, with small and medium-sized enterprises (SMEs) contributing 26%. Crucially, 93% of these SMEs reported that they could not carry out exports without e-commerce.

Although e-commerce has helped Vietnamese goods reach global consumers, most domestic businesses still heavily rely on foreign platforms and lack control over the entire digital value chain. Many fail to meet international product standards, lack legal knowledge, and are unprepared for brand protection when entering foreign markets.

Bui Huy Hoang, deputy director of the Centre for E-commerce and Digital Technology Development under the Ministry of Industry and Trade, emphasised that succeeding in cross-border e-commerce requires more than opening a virtual storefront. It demands a shift in mindset towards mastering the full scope of digital commerce operations. Indeed, businesses must proactively build capabilities in marketing, customer service, logistics, and compliance if they are to be able to compete effectively.

A comprehensive ecosystem in dire need

Under the Prime Minister’s Decision No. 645, e-commerce is identified as a pioneering sector to modernize production systems and distribution models, improve business efficiency, and create sustainable growth momentum for exports. At Vietnam International Sourcing 2024, Deputy Minister of Industry and Trade Phan Thi Thang reaffirmed that cross-border e-commerce is an effective tool for Vietnamese enterprises, especially SMEs, to overcome geographical barriers and actively engage in the global value chain.

To achieve long-term success, experts said that Vietnam must establish a comprehensive e-commerce ecosystem that connects manufacturers, digital platforms, logistics providers, financial services, and regulatory agencies. No single entity can manage all of these components alone. Instead, a collaborative, multi-stakeholder approach is needed.

The Department of E-commerce and Digital Economy is working to build this ecosystem through initiatives focused on policy development, SME training, infrastructure upgrades (including digital payments, logistics, and AI integration), and expanding international co-operation. Pilot projects are also underway in partnership with global e-commerce platforms that seek to support Vietnamese companies in scaling up cross-border exports.

Hoang cautioned that in today’s rapidly evolving tech landscape, businesses must go beyond participation. They must learn to co-ordinate, optimise, and measure their digital commerce operations with the aim of transforming from passive sellers to active players in the global digital economy.

In short, cross-border e-commerce is not just a sales channel but is a strategic pathway which can elevate Vietnamese products on the global stage. To unlock its full potential, Vietnam needs a comprehensive national strategy and a genuine transformation from the business community.

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