On November 6, in Hanoi, the Department of E-commerce and Digital Economy (Ministry of Industry and Trade) organized the Vietnam E-commerce and Digital Technology Application Forum 2024. The forum aims to promote the application of digital technology and e-commerce in the economy, supporting businesses to improve their competitiveness and sustainable development.

According to Ms. Lai Viet Anh, Deputy Director of the Department of E-commerce and Digital Economy, in recent times, the Government has strongly promoted digital transformation through Decision No. 749/QD-TTg implementing the "National Digital Transformation Program to 2025, with a vision to 2030," Decision 645/QD-TTg approving the Master Plan for National E-commerce Development for the 2021-2025 period, helping the application of Digital technology become more and more popular in life.

Vietnam's e-commerce growth fastest in Southeast Asia

Vietnam's e-commerce growth fastest in Southeast Asia
Vietnam and Thailand lead the growth trajectory with total value of goods on e-commerce platforms increasing by 52.9% and 34.1% respectively compared to the same period in 2023.

Positive changes from State management, business operations to people's consumption habits through e-commerce have marked a remarkable step forward for digital transformation and e-commerce in Vietnam.

The July 2024 report at the Government Conference on digital transformation showed that Vietnam's e-commerce revenue in 2023 reached 20.5 billion USD, putting Vietnam in the group of countries with the highest e-commerce growth rate in the region.

Many large technology corporations have invested in new fields such as electronics, semiconductor chips, R&D, AI, etc. Cashless payments are also widespread, with the rate of adults with payment accounts reaching 87%, exceeding the target for 2025. Currently, e-commerce is not only developing in urban areas but also expanding to remote areas thanks to the strong development of the delivery system.

“The Forum is a connecting space for diverse businesses in the fields of manufacturing, e-commerce, distribution, trade, international import and export, technology, and providing digital transformation solutions, from large to small scale. This will be an opportunity for businesses to exchange, learn, and improve their capacity to apply technology, e-commerce and digital transformation, thereby improving governance and competitiveness,” said Ms. Lai Viet Anh.

Ms. Lai Viet Anh, Deputy Director of the Department of E-commerce and Digital Economy, spoke at the Forum. (Photo: PV/Vietnam+)
At the seminar, representatives of leading enterprises in the fields of technology, digital finance and e-commerce such as Shopee, TikTok, Vietnam Post and BIDV, together with representatives of the Thai Nguyen Provincial Trade Promotion Center, participated in discussions on solutions and challenges in the field, providing multi-dimensional perspectives and practical solutions to promote the development of the e-commerce market in Vietnam in the coming period.

According to opinions at the seminar, e-commerce is not only a bridge to help local goods reach consumers nationwide, but also supports expanding the influence of Vietnamese products in the international market.

For local manufacturing enterprises, e-commerce opens up opportunities to reach a large number of potential customers nationwide, no longer dependent on traditional sales channels or geography. Thanks to that, local specialties, handicrafts, and agricultural products are better consumed, contributing to increasing income and promoting regional economic development.

However, to promote more balanced development, practical solutions are needed to support local businesses to overcome difficulties and promote advantages. Local manufacturing enterprises should proactively participate in trade events, seek cooperation opportunities, and update new technology solutions to meet market demand.

With a common vision of promoting the e-commerce market and digital technology applications in provinces and cities, at the Forum, the Vietnam Software and Information Technology Services Association (VINASA) together with the Department of Industry and Trade of Bac Giang province and the Trade Promotion Center of Thai Nguyen province signed a memorandum of understanding on cooperation to promote the development of e-commerce and digital technology applications for local businesses.

Along with that, the Vietnam Coconut Association and Ratraco Transportation Solutions Limited Company signed a Cooperation Agreement to promote the export of coconuts and coconut products to foreign markets through international trade and cross-border e-commerce.

This is an important opportunity for organizations and businesses to connect and expand cooperation, contributing to promoting digital transformation and developing the digital economy in Vietnam. This event marks the beginning of a strategic partnership, aiming at the goal of comprehensive and sustainable development for e-commerce, promoting the export of goods as well as accelerating the digital transformation process in Vietnam./.