Building credibility key to e-commerce: Seminar hinh anh 1Illustrative image (Photo: VNA)

Hanoi (VNA) - Building credibility is key to the development of e-commerce, experts told a seminar held by the Vietnam Institute of Economics (VIE) in Hanoi on June 2.

VIE Deputy Director Le Xuan Sang said e-commerce has become indispensable for many businesses and contributes to improving their competitiveness, especially small and medium-sized enterprises (SMEs).

He added that e-commerce development depends on the legal framework and policies, human resources, and trust.

Of a similar mind, Le Duc Anh, Director of the Centre for Information and Digital Technology at the Ministry of Industry and Trade’s Vietnam E-Commerce and Digital Economy Agency, said businesses should be rated for their credibility by both buyers and sellers, including on information verification, the settlement of complaints, delivery quality, and guaranteed payments.

Participants suggested the State promptly refine the legal framework and policies for e-commerce and cashless payments, enhance security system and information safety, and encourage links between bank card owners and goods and services providers.

Figures show that e-commerce in Vietnam grew from 4 billion USD to 8 billion USD during the 2015-2018 period, rising 30 to 40 percent each year. Nearly 40 million mobile users and internet subscribers access e-commerce and online shopping./.