Vietnam takes measures to tighten cross-border e-commerce

Updated: 19:06, 23/01/2025

Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade (MoIT) has been taking measures to enhance the management of cross-border e-commerce platforms.

Le Hoang Oanh, head of the agency, said that it will continue to seek solutions to ensure sustainable e-commerce, minimise environmental impacts, promote cooperation among parties, and collaborate with industry associations and businesses.

Illustrative photo.

It will also work with various ministries, sectors, and localities to strengthen regional connections in developing e-commerce. Notably, the ministry plans to submit a draft e-commerce law for consideration at its meeting in October this year.

She said the draft law states that businesses and organisations engaging in cross-border e-commerce into the Vietnamese market must apply for a licence from the MoIT and establish a representative office in Vietnam or appoint a legal entity in Vietnam as their authorised representative.

Furthermore, it sets out the responsibilities of the representative office or authorised entity in Vietnam to ensure consumer rights. The draft also includes regulations on verifying foreign sellers and compensating buyers before any violations occur on the e-commerce platforms.

The draft law also stipulates that foreign businesses and organisations selling goods and providing services on e-commerce platforms have responsibilities similar to domestic ones.

Additionally, they must provide information to the managers of intermediary digital platforms and ensure the verification of seller information and compliance with standards and technical requirements for products sold in the Vietnamese market.

Notably, foreign goods and services offered in the Vietnamese market must meet the standards and regulations applicable in Vietnam. The government will establish a list of goods permitted for import through e-commerce.

Statistics indicate that Vietnam's e-commerce continues to maintain impressive growth rates of 18-25% annually.

In 2024, the e-commerce market size reached 25 billion USD, a 20% increase compared to 2023, accounting for approximately 9% of total retail sales and consumer service revenue nationwide.

Additionally, cross-border e-commerce has developed relatively well, enabling Vietnamese consumers to become global consumers with access to a diverse range of domestic and international products.

Moreover, small- and medium-sized enterprises in Vietnam have leveraged cross-border e-commerce as an important export channel, expanding the market for Vietnamese goods.

A report from Amazon Global Selling Vietnam indicates that in over 17 million products from Vietnamese businesses were exported, up 50% in value and 40% in the number of selling partners year-on-year. Cross-border e-commerce grew by 26% compared to the previous year.

Vietnam's trade activities are expected to grow in the next five years thanks to free trade agreements (FTAs), foreign direct investment (FDI), and public investments, creating positive prospects for cross-border e-commerce. China, the US, and the Republic of Korea are Vietnam's top trading partners, playing a crucial role in expanding activities on digital platforms.