VOV.VN - Temu, a major cross-border e-commerce platform of China, said that it has refunded customers in Vietnam on request of the Ministry of Industry and Trade, after deciding to cease operations in the market.

The cross-border e-commerce platform Temu has suspended its operations in Vietnam as per requests from the Ministry of Industry and Trade (MoIT).

The Ministry of Industry and Trade (MoIT) has engaged with representatives from cross-border e-commerce platforms Temu and Shein, mandating them to complete business registration procedures within this month.

VOV.VN - Deputy Prime Minister and Minister of Finance Ho Duc Phoc said on November 5 that artificial intelligence (AI) will be used to monitor and manage revenue, transactions, and sales activities on e-commerce platforms.

A wave of cheap goods on Chinese e-commerce platforms, such as Taobao, 1688, Shein and Temu, has forced Vietnamese businesses to enhance their competitiveness in the domestic market.

A total of 115 foreign suppliers have registered and paid taxes through the electronic portal, contributing over VND18 trillion (US$711.88 million) to the state budget, according to the Ministry of Finance’s General Department of Taxation (GDT).

VOV.VN - Temu, an online marketplace operated by the Chinese e-commerce company PDD Holdings, has yet to register to operate in Vietnam, said the E-Commerce and Digital Economy Agency.