Vietnam seeks ways to expand cross-border e-commerce growth
An international workshop discussing opportunities to connect and expand markets for Vietnamese exports via cross-border e-commerce partnership with Amazon was jointly held by the Ministry of Industry and Trade (MoIT) and the People’s Committee of Ho Chi Minh City on September 14.
As part of the Vietnam International Sourcing 2023, the event offered a venue for e-commerce experts and businesses to discuss and share experiences, helping Vietnamese entrepreneurs and young human resources quickly acquire knowledge and directly engage in introducing and selling Vietnamese products on global cross-border e-commerce platforms.
Addressing the event, Ta Hoang Linh, director of the European-American Market Department under the MoIT, highlighted the increasingly important role played by cross-border e-commerce in the global market, saying that Amazon is a modern e-commerce model and one of the global leading retailers with extensive experience in connecting producers and consumers globally.
Amazon has been partnering with the MoIT since 2019 and has provided opportunities for many Vietnamese companies, especially small and medium-sized enterprises (SMEs), to introduce Vietnamese products to global consumers via its cross-border e-commerce platform, Linh said.
Throughout the workshop, Vietnamese businesses will gain a more specialised understanding of e-commerce, and have additional opportunities to join the e-commerce market on Amazon, thus encouraging businesses to accelerate their engagement in international business activities to bring Vietnamese products and brands closer to global buyers through e-commerce, he added.
Gijae Seong, CEO of Amazon Global Selling Vietnam, acknowledged that exports have been a crucial driver of Vietnam's economy for many years, noting that this is the opportune time for Vietnam to further boost its exports by spurring digitisation and e-commerce application in export activities.
Amazon Global Selling Vietnam is working to promote and support the development of SMEs through cross-border e-commerce. It provides local businesses with the latest information and updates on online exports, product development ideas, and ways to find and connect with supplier networks to unlock opportunities and speed up business-to-customers (B2C) e-commerce exports.
According to economic experts, Vietnam is emerging as a global manufacturing and supply hub with the capacity to provide internationally standardised products at competitive prices.
A report from Access Partnership estimated that Vietnam's B2C e-commerce retail exports reached US$3.5 billion in 2022, demonstrating the significant potential of cross-border e-commerce in export growth.
Amazon reaches global consumers in 200 countries and territories worldwide with nearly 300 fulfillment and sort centres, hundreds of millions of Amazon Robotics units, dozens of transport aircraft, along with continuously innovating services and tools that help sellers manage and optimise their businesses, according to Nguyen Hong Hanh, senior account manager at Amazon Global Selling Vietnam.
According to the MoIT, Vietnam's retail e-commerce market is estimated to reach US$16.4 billion, accounting for 7.5% of the country's total consumer goods and services revenue. With a growth rate of 20% per year, Vietnam was ranked among the top five countries with the world's top e-commerce growth by eMarketer.
