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The Ho Chi Minh City Department of Industry and Trade has collaborated with various e-commerce platforms to arrange a series of seminars addressing cross-border e-commerce and global expansion opportunities for Vietnamese enterprises.
The seminars are being held within the framework of a demand-supply connectivity conference between Ho Chi Minh City and provinces and centrally-run cities, scheduled from 21-24 December. During the events, experts and representatives from multinational e-commerce platforms have primarily focused on providing updates on cross-border online sales, discussing solutions to improve sales, and providing insights into customer needs using big data.
Participants agree that developing e-commerce channels, encouraging online connectivity, listing products on e-commerce platforms, establishing online distribution channels, and enhancing cross-border exports will enable production and business units to access both domestic and foreign consumer markets more effectively.
An industry expert noted that cross-border e-commerce in Vietnam has experienced positive and consistent growth in recent years, boasting an annual growth rate of 20%. Vietnam has achieved recognition, ranking among the top five countries globally in terms of trade growth.
Nguyen Nguyen Phuong, Deputy Director of the Municipal Department of Industry and Trade, emphasised that e-commerce is a promising sales channel that has not been fully exploited. For small- and medium-sized enterprises or local manufacturers, there are still constraints in terms of accessing the online retail market and capitalising on revenue growth opportunities in both domestic and export markets through e-commerce platforms.
This year, it is anticipated that the export value of Vietnamese businesses through one giant e-commerce platform has grown by over 50%, accompanied by a 40% increase in the number of sales partners from Vietnam. There are thousands of Vietnamese sellers doing business on the platform. In fact, 17 million products from the Southeast Asian nation were sold on the platform this year.
Vietnamese enterprises have benefitted substantially from this platform’s business support programme, which established a dedicated team in Vietnam in 2019. As OpenGov Asia reported, a report on the programme in 2022 showed that around 10 million products Made-in-Vietnam were successfully sold to customers through the e-commerce platform. These include a diverse range of items, including dried food, beverages, medicines, garments, and textiles, as well as handicrafts.
To propel local businesses onto the global stage, the Ministry of Industry and Trade (MoIT) recently unveiled an ambitious plan. It selects 100 outstanding enterprises for the “Vietnam Pavilion”, which will be held on a prominent B2B e-commerce platform.
Using the platform’s extensive network, the programme will champion a variety of Made-in-Vietnam products, fuel international trade endeavours, and facilitate seamless access for businesses to tap into the vast customer base of an established e-platform.
The e-commerce sector could achieve an estimated US$ 20.5 billion this year. The main driving force behind it is the strong consumer interest in food delivery services (60%) and online grocery shopping (54%). Among urban digital users in Vietnam, the adoption levels are the highest, with e-commerce, food delivery services, and online groceries leading the way at 96%, 85%, and 85%, respectively.
E-commerce is also powering the country’s digital economy, which is projected to expand significantly to reach approximately US$ 45 billion by 2025, generating new employment opportunities and improving the quality of life.
