Trans-border e-commerce helps expand potential markets
The e-commerce market of Vietnam has expanded strongly in recent years, becoming a popular business method among enterprises and consumers.
According to the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade (MoIT), despite negative impacts of COVID-19 in 2020, Vietnam still saw strong growth in e-commerce activities and became one of the fastest growing e-commerce markets in the Southeast Asian region.
The Vietnam E-commerce White Book clarified that last year, the local e-commerce market expanded 18% to US$11.8 billion, making Vietnam the only Southeast Asian country to enjoy two-digit growth in the field.
A MoIT survey indicated that in 2020, 49.3 million Vietnamese people engaged in online shopping, a sharp rise from 32.7 million in 2016.
The involvement in the online import-export system as well as trans-border e-commerce activities will give Vietnamese firms opportunities to complete their products and improve their competitiveness and product value, while bringing Vietnamese goods closer to consumers in more countries in the world.
The Vietnam E-commerce and Digital Economy Agency said that it will coordinate with domestic and foreign partners, including JD.com, Vinanutrifood, Viettel Post, VP Bank and Visa to set up a Vietnamese National Pavilion on the JD.com e-commerce platform of China.
This will be the first Vietnamese pavilion on an international e-commerce platform to directly provide Vietnamese products to consumers in importing countries through trans-border e-commerce method.
The agency will help connect businesses and give them guidelines on distributing products on the pavilion in line with regulations of the platform and the law of the importing country. At the same time, it will also seek resources from partners to promote Vietnamese products and support local firms to smoothly distribute their products on the JD e-commerce platform, thus increasing exports to China.