The Vietnam E-commerce and Digital Economy Agency (IDEA) forecasts that the Vietnamese e-commerce market will reach 10 billion USD this year (Photo: kiotviet.vn) Hanoi (VNS/VNA) -The logistics sector is forecast to continue growing strongly this year, withexpansion in both retail and e-commerce channels.
The Vietnam E-commerce andDigital Economy Agency (IDEA) forecasts that the Vietnamese e-commerce market willreach 10 billion USD this year.
The agency also estimated thatdelivery services would record a revenue growth of 30-40 percent, with themarket growing 20 percent and large companies taking a bigger share.
In a Google-Temasek report one-commerce in ASEAN countries, the Vietnamese e-commerce market is estimated toincrease from 4.6 billion USD last year to 23 billion USD by 2025.
The strong growth of e-commerceis beneficial for other supporting industries, such as logistics and e-paymentservices.
However, the competition in thedelivery industry is high as new competitors entered the market in the 2018-19period, such as Grab Express.
The European Union − VietnamFree Trade Agreement (EVFTA) is expected to take effect from the second half ofthis year. FDI capital is expected to continue creating demand forbusiness-to-business (B2B) transport and seaport services. E-commerce growthwill increase the business-to-customer (B2C) and customer-to-customer (C2C)transport.
IDEA achievements in 2019and tasks for 2020
Last week, the IDEA organised a meeting to summariseits work last year and deploy tasks for this year.
Assessing IDEA’s results in thepast year, Deputy Minister of Industry and Trade Cao Quoc Hung emphasised that2019 was a highlight and an important milestone for the agency as itsuccessfully developed the general plan on national e-commerce development inthe 2021-25 period and successfully organised the online shopping festival(Online Friday).
Reporting on the achievedresults, IDEA Director Dang Hoang Hai said the agency had completedinstitutions and policies on e-commerce and the digital economy last year.
For the task of supervising andinspecting the implementation of the law on e-commerce and handling violations,the agency received 1,850 responses and handled nearly 1,570 on the e-commerceactivity management portal last year.
Notably, the Ministry ofIndustry and Trade successfully organised 2019 Online Friday to stronglypromote the development of e-commerce and the digital economy in Vietnam,contributing to the development of the economy under the Government'sorientation on promoting technology and seizing the opportunity of Industry4.0.
The event attracted more than11.9 million interactions across the system, 35,000 downloads of mobileapplications, and 1.6 million QR code scans.
Entering 2020, Hai identifiedthe key tasks of the year, which are to continue gradually improving the legalframework for e-commerce and the digital economy; supervise and inspect theimplementation of the e-commerce law; promote online public services; modernisethe handling of administrative procedures; continue implementation of thee-commerce development programme and programmes to support enterprises applyinge-commerce; and strengthen international co-operation in the field ofe-commerce./.
VNA
