About 3,000 businesses will offer their best products and services at lower prices on the Online Friday 2016 (Photo: VNA)

Hanoi (VNA) – About 3,000 businesses will offer their best products and services at lower prices on the Online Friday 2016, the year’s biggest e-commerce event held on the first Friday of December.

They include electronic device producers and official importers (Samsung, Intel, Asus, Oppo, Maison JSC, and Hoang Phuc International), along with Omni-channel retailers (The gioi di dong, Nguyen Kim, HC, Pico, Mediamart and Tran Anh).

E-commerce firms, online travel companies, delivery businesses, start-ups, banks and payment services providers will also join in the Online Friday, according to the Vietnam E-Commerce and Information Technology Agency (VECITA).

They are set to offer 200,000 products at discount prices, expecting a total revenue of over 1 trillion VND (44.8 million USD), said Lai Viet Anh – Deputy Director of VECITA under the Ministry of Industry and Trade.

The online shopping day on the first Friday of December (December 2 this year) is a highlight among a series of related events that include both online and offline activities, such as the autumn online shopping day on September 30, an e-commerce forum in November, and a BigOFF event from December 1 – 3.

Regulations on the transparency of product quality and discounts have been issued to protect consumers’ rights and ensure the events’ success, the ministry said, adding that any company that commits violations will be eliminated from the Online Friday, and must compensate consumers and pay fines up to 300 million VND.

E-commerce is now attractive to both enterprises and consumers in Vietnam. With a young population, Vietnam ranks sixth in Asia and 17th in the world in terms of the growth rate of Internet users, who make up 48 percent of its population, according to VECITA.-VNA