Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Driving Economic Progress: E-Commerce’s Role in Vietnam

Getting your Trinity Audio player ready...

Minister Nguyen Hong Dien highlighted the Ministry of Industry and Trade’s priority of bolstering consumer protection for the sustainable growth of Vietnam’s e-commerce sector. He emphasised e-commerce’s pivotal role in the economy, serving as both a vital distribution channel and a catalyst for financial innovation.

According to ministry data, Vietnam ranks among the top five countries globally for e-commerce growth, witnessing a remarkable 25% increase in 2023 compared to 2022. The retail e-commerce market in Vietnam was valued at an impressive US$20.5 billion in 2023, highlighting its significant contribution to the national economy.

“E-commerce has become an indispensable component of our economy, catalysing the evolution of financial services and payment systems,” Dien remarked. “However, to sustain this momentum, we must address the accompanying challenges effectively.”

Despite its rapid growth, the e-commerce sector in Vietnam faces several pressing challenges. Minister Dien identified three major issues: the risk of personal data breaches, rampant counterfeiting, and significant tax losses. To mitigate these challenges, the ministry has implemented a series of proactive measures.

The Ministry of Industry and Trade has mandated e-commerce platforms and websites to rigorously review, remove and lock out non-compliant online stores. As a result, over 6,200 online stores selling 23,359 violating products have been shut down. Additionally, the ministry conducted 834 investigations into e-commerce violations, imposing fines totalling VN$ 12 billion.

“One of the primary issues is the insufficient enforcement of sanctions against counterfeit products,” Dien noted. “Stricter measures are essential to deter violations and protect consumers.”

A significant legislative development is the Law on Protection of Consumer Rights 2023, set to take effect in July. This law is expected to provide robust protection for consumers in the digital marketplace, ensuring that their rights are safeguarded against fraudulent activities and data breaches.

The ministry is also collaborating with the Ministry of Public Security to draft comprehensive legislation focused on the protection of personal data. Under this proposed law, e-commerce platforms will be required to publicly disclose their policies regarding the protection of personal data, thereby enhancing transparency and consumer trust.

The ministry aims to combat counterfeit goods by increasing inspections of product origins and quality, while also encouraging local producers to improve product quality and promote Vietnamese-made goods. These steps protect consumers and enhance the reputation of domestic products.

“We are committed to rooting out counterfeit goods from our e-commerce platforms,” Dien asserted. “By improving the quality of local products and promoting them effectively, we can build a more trusted and reliable e-commerce ecosystem.”

Minister Dien stressed the need for improved tax management in e-commerce to prevent revenue losses. He proposed removing VAT and import tax exemptions on low-value imported goods, citing significant revenue potential from transactions on four major foreign e-commerce platforms.

In 2021, e-commerce tax revenues reached nearly VN$ 100 trillion, originating from nearly US$21 billion, underscoring the need for improved data connectivity and information sharing to enhance tax management and enforcement. The ministry’s proposed measures include increasing data integration and collaboration between relevant agencies to ensure more effective tax collection and compliance.

The Ministry of Industry and Trade aims to strengthen consumer protection and regulatory measures, demonstrating Vietnam’s dedication to nurturing a resilient e-commerce ecosystem. Through proactive measures and comprehensive frameworks, the ministry seeks to establish a secure and trustworthy e-commerce environment for both consumers and businesses.

“As we continue to navigate the digital age, our priority remains clear: to protect our consumers and ensure the sustainable growth of e-commerce,” Dien concluded. “With these measures, we are confident in building a vibrant and trustworthy e-commerce sector that will continue to drive economic growth and innovation.”


Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.


As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.


Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit


SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.


HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 


IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit