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Cross-border e-commerce expands market for Vietnamese goods: experts
Cross-border e-commerce has become an important export channel, helping to expand the market for Vietnamese goods, according to experts at a forum that opened in Hanoi on November 26.
The 2024 E-commerce Connection and Development Forum drew the participation of over 500 delegates from ministries, agencies, localities, international organisations, trade associations, and Vietnamese and Asian enterprises.
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An overview of the E-commerce Connection and Development Forum. |
To support ultra-small, small and medium enterprises fostering online exports, the forum provides information about the government’s policies and supportive measures to promote cross-border e-commerce.
Through expert analysis, the forum will provide overall information about the Vietnamese and international e-commerce markets and shared international experience to help Vietnamese enterprises increase online exports.
Speaking at the event, Le Hoang Oanh, Director of the Department of E-Commerce and Digital Economy, emphasised that Vietnam has witnessed strong growth in e-commerce over the past five years.
Citing Amazon Global Selling Vietnam’s data, Oanh stated that over the past year, 17 million Vietnamese products have been exported, up 50% in value and 40% in selling partners.
Cross-border e-commerce has grown overall by 26% compared to the previous year.
Vietnam’s digital economy reached 30 billion USD in 2023, ranking third in Southeast Asia, and is expected to reach 45 billion USD in 2025.
Oanh noted that these figures are clear evidence of Vietnamese enterprises’ great potential and constant efforts to capitalise on the digital platform and expand their international market.
Vietnam’s e-commerce market is estimated at US$22 billion, the third largest in Southeast Asia behind only Indonesia ($65 billion) and Thailand ($26 billion).
The national e-commerce week will take place from November 25 to December 1, while the Vietnam Online Friday 2024 will run from the beginning of November 29 to noon of December 1, according to the Ministry of Industry and Trade. The events will be held on the national scale.
Along with the 4th Industrial Revolution, e-commerce has become an inevitable trend serving as a tool for businesses to diversify channels and methods to swiftly seek buyers, partners, and orders, towards creating breakthroughs in trade in the global race, according to insiders.
Vietnam’s e-commerce market has seen consistent growth, boasting an average annual growth rate of 16-30% over the past four years, the highest in the world, according to a report recently released by OpenGov Asia, a content platform dedicated to sharing ICT-related knowledge and information to better serve citizens and customers.
BAC GIANG – The People’s Committee in Bac Giang province has approved to pilot an e-commerce commune model in Phuc Hoa commune of Tan Yen district.
Vietnam and Thailand have emerged as the two fastest-growing e-commerce markets in Southeast Asia, according to a recently released Southeast Asia e-commerce report by OpenGov Asia — a content sharing platform dedicated to sharing ICT-related knowledge and information between governments.
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