E-commerce boosts exports of Vietnamese products
Digital platforms have played a key role in helping Vietnamese firms take their high-quality products to the world, insiders have said.
Vice Chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) Phung Quoc Man said export revenues of wooden products and furniture via e-commerce platforms have been on the rise over the past time, reaching US$4.89 billion during January – April, up 25% against the same time last year.
The US remained the largest buyer as it spent US$2.7 billion on the products during the period, a year-on-year surge of 31.8%, he said.
Meanwhile, Standing Vice Chairman and Secretary General of the Vietnam Textile & Apparel Association Truong Van Cam stressed that cross-border e-commerce has offered a good opportunity for Vietnamese garment and textile firms to develop their brands, particularly as their products boast competitive edge due to good prices and high quality.
A report on export opportunities via e-commerce platforms conducted by Access Partnership Analytics showed that micro, small and medium-sized enterprises in Vietnam are in a prime position to reap significant benefits from the rapid growth of the e-commerce sector. They are expected to rake in VND296.3 trillion (US$11.64 billion) in e-commerce export revenue by 2027.
Despite formidable challenges, healthcare, kitchen, apparel and beauty products were on good sale on Amazon during 2020-2023.
According to head of Amazon Global Selling Vietnam Gijae Seong, Vietnamese firms have made miracles in cross-border exports, with the number of those earning sales of US$1 million a year on Amazon rising ten folds in just five years. Beyond promoting their exports, Vietnamese firms also invest in brand development for long-term growth.
Deputy Director of the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade Nguyen Thi Minh Huyen said that the agency is carrying out measures to develop the e-commerce market and improve customer confidence in the area as part of the national e-commerce development plan during 2021-2025.
It is joining hands with provincial Departments of Industry and Trade and Amazon Global Selling to roll out activities that promote regional e-commerce linkages and improve e-commerce management for localities. The aim is to assist enterprises to go digital and popularise local staples on both domestic and foreign platforms, Huyen added.
