Vietnamese companies, especially small and medium-sized enterprises,need to use e-commerce more to strengthen their competitiveness inforeign trade, Le Dang Doanh, an economist and former member of theGovernment Advisory Council, has said.
Speaking at the 4th annualSupplier Day event organised in HCM City on March 31 by leading globalwholesale online platform Alibaba.com, he said e-commerce has becomemore important with the Vietnamese economy's regional and globalintegration.
This year Vietnam is likely to conclude a series of multilateral and bilateral trade agreements.
Many free trade agreements will possibly be signed this year – likethe Trans Pacific Partnership, EU-Vietnam FTA, Republic of Korea-VietnamFTA, Vietnam-European Free Trade Association FTA, andVietnam-Russia-Belarus-Kazakhstan Customs Union.
The low tax rates as part of these FTAs will expand Vietnam's foreign trade.
The Vietnam Textile and Garment Association expected the TPP to yieldan additional 30 billion USD in textile exports by 2020 and 55 billionUSD by 2030.
"Domestic businesses at that time will become global businesses with easy access to partners around the world".
E-commerce will be a key in helping businesses reduce marketingexpenses, eliminating distances and do 24/24 online transactions withcustomers in various forms like B2B, B2C, and B2E.
Timothy Leung, head of global business development at Alibaba.com - oneof the B2B websites with the greatest participation by Vietnameseexporters – said: "We see significant growth in the number of registeredmembers from Vietnam (129 percent) providing valuable products tobuyers in different countries including the US, India, and China."
On average, 6,600 new members registere per month, he said.
Alibaba.com is an English-language global wholesale platform withregistered users in over 240 countries and regions and thousands ofproduct categories in more than 40 industries.
Leungadded that in the near future new tools such as AliSourcePro to helpsuppliers identify quality buyers and Alibaba Biz Circle tool forAlibaba.com members to exchange ideas and enable suppliers and buyers tobetter understand each other to explore new business opportunities willbe launched.
Doanh said e-commerce revenues inVietnam are set to hit 1.3 billion USD this year. But if e-commerce isto develop, Vietnamese consumers need to change their habit of usingcash for payment.
Tran Dinh Toan, Deputy Director ofOSB Co., said e-commerce is a useful tool for businesses to explore andexpand markets and take advantage of untapped opportunities for globaltrade in the context of a fast-changing global economy.
By the end of last year Vietnam was seventh in Asia in terms of internet growth and 18th in the world.
According to the Internet World Stats, by June last year 43.9 percentof the country's population or 41 million people had access to theinternet.
Supplier Day brought together over 300 businesses and experts who discussed how to grow their businesses globally.-VNA
Speaking at the 4th annualSupplier Day event organised in HCM City on March 31 by leading globalwholesale online platform Alibaba.com, he said e-commerce has becomemore important with the Vietnamese economy's regional and globalintegration.
This year Vietnam is likely to conclude a series of multilateral and bilateral trade agreements.
Many free trade agreements will possibly be signed this year – likethe Trans Pacific Partnership, EU-Vietnam FTA, Republic of Korea-VietnamFTA, Vietnam-European Free Trade Association FTA, andVietnam-Russia-Belarus-Kazakhstan Customs Union.
The low tax rates as part of these FTAs will expand Vietnam's foreign trade.
The Vietnam Textile and Garment Association expected the TPP to yieldan additional 30 billion USD in textile exports by 2020 and 55 billionUSD by 2030.
"Domestic businesses at that time will become global businesses with easy access to partners around the world".
E-commerce will be a key in helping businesses reduce marketingexpenses, eliminating distances and do 24/24 online transactions withcustomers in various forms like B2B, B2C, and B2E.
Timothy Leung, head of global business development at Alibaba.com - oneof the B2B websites with the greatest participation by Vietnameseexporters – said: "We see significant growth in the number of registeredmembers from Vietnam (129 percent) providing valuable products tobuyers in different countries including the US, India, and China."
On average, 6,600 new members registere per month, he said.
Alibaba.com is an English-language global wholesale platform withregistered users in over 240 countries and regions and thousands ofproduct categories in more than 40 industries.
Leungadded that in the near future new tools such as AliSourcePro to helpsuppliers identify quality buyers and Alibaba Biz Circle tool forAlibaba.com members to exchange ideas and enable suppliers and buyers tobetter understand each other to explore new business opportunities willbe launched.
Doanh said e-commerce revenues inVietnam are set to hit 1.3 billion USD this year. But if e-commerce isto develop, Vietnamese consumers need to change their habit of usingcash for payment.
Tran Dinh Toan, Deputy Director ofOSB Co., said e-commerce is a useful tool for businesses to explore andexpand markets and take advantage of untapped opportunities for globaltrade in the context of a fast-changing global economy.
By the end of last year Vietnam was seventh in Asia in terms of internet growth and 18th in the world.
According to the Internet World Stats, by June last year 43.9 percentof the country's population or 41 million people had access to theinternet.
Supplier Day brought together over 300 businesses and experts who discussed how to grow their businesses globally.-VNA
