Impressive Growth of Vietnamese E-commerce

In recent years, Vietnamese e-commerce has made remarkable progress. Especially during and after the COVID-19 pandemic, consumers' online shopping habits changed rapidly, promoting strong e-commerce growth.

According to Mr. Ta Hoang Linh, Director General of the European - American Market Department (Ministry of Industry and Trade), Vietnam is currently among the top 10 countries with the highest e-commerce growth rate in the world. Retail e-commerce revenue in Vietnam maintains an impressive growth rate of over 25%/year.

Amazon: A "Magic Door" for Vietnamese Goods

Amazon is one of the cross-border e-commerce platforms chosen by many Vietnamese businesses. Through Amazon, Vietnamese goods can reach more than 2 billion online consumers every year.

Remarkably, the number of products sold by Vietnamese businesses on Amazon has increased by more than 300% in the past 5 years. Thousands of Vietnamese small and medium-sized enterprises are currently exporting through Amazon, of which the number of businesses achieving annual revenue of over 1 million USD has increased nearly 10 times.

Support from the Ministry of Industry and Trade

Recognizing the potential of cross-border e-commerce, the Ministry of Industry and Trade has directed Vietnamese trade counselors abroad to regularly update consumer trends, market demand, and experience in implementing online exports, thereby supporting Vietnamese businesses to effectively participate in cross-border e-commerce.

Recommendations for Vietnamese Businesses

Mr. Tran Phu Lu, Director of ITPC, recommends that Vietnamese businesses:

• Seize opportunities: Clearly recognize the potential and opportunities that e-commerce brings.
• Improve capacity: Equip themselves with the necessary knowledge and skills to export through cross-border e-commerce.
• Comply with regulations: Understand and comply with regulations on consumer protection, information security, transaction policies, taxes, customs, and intellectual property rights.
• Build a global brand

Besides exporting products, Vietnamese businesses are also actively investing in building their brands in the international market. The number of Vietnamese sellers participating in Amazon's Brand Registry program has increased 35 times.

Cross-border E-commerce: A New Era for Exports

With the strong development of e-commerce and support from the Government, cross-border e-commerce is opening up a new era for Vietnamese exports, helping Vietnamese businesses reach out to the world and affirm their position in the international market.

Thuy Linh