Business

E-commerce market a haven for fake goods

E-commerce is a potential goldmine for businesses over the next two years with a potential reach of 10 billion USD.
E-commerce market a haven for fake goods ảnh 1Officials of Lang Son’s Market Watch check goods’ origin. (Photo: dantri.com.vn)

Hanoi (VNS/VNA)- E-commerce is a potential goldmine for businesses over the next two yearswith a potential reach of 10 billion USD.

But it also offers opportunities for counterfeit and smuggled goods, aconference in the north-eastern province of Quang Ninh was warned on March 4.

With the development of the Fourth Industrial Revolution and digital age,e-commerce has created a new playground for businesses to develop.

In addition more and more domestic firms are providing e-commerce services.

Statista Market Research Company says e-commerce revenue in Vietnam reached 2.26billion USD last year, 30 percent up from 2017.

Vietnam ranked 6th among the top 10biggest e-commerce countries in the world after China, the US, UK, Japan andGermany.

The growth rate this year is expected to be 35 percent. Butthe success comes at a price.

“In addition to positive development, there has been trade fraud, counterfeitgoods and violations of intellectual property rights,” said Dang Hoang An,deputy minister of Industry and Trade.

“This is a challenge for management agencies to have measures to protectconsumers.”

A representative from Hanoi’s Market Watch said in reality, they are facingdifficulties monitor websites which violate the law.

E-commerce websites usually use images of real and genuine goods for sale at amuch cheaper price and use social media sites to sell smuggled and fakecigarettes and cigars.

The department recently seized thousands of packets of fake food supplementssold online.

Vietnam Directorate of Market Surveillance TranHuu Linh said the National SteeringCommittee 389 would continue to hand out strict punishments for violationsof trade fraud and fake goods.

Meanwhile, it would improve its staffing levels to catchup with new technology applications.

In addition, Market Watch will create a database and e-invoice system tosupervise the market while improving people awareness on laws and regulationsto help consumers understand their rights and duties.-VNS/VNA
VNA
#e-commerce market a haven for fake goods #e-commerce market #fake goods #Fourth Industrial Revolution #digital age #e-commerce services #Statista Market Research Company #Market Watch #Vietnam News Agency #vietnamplus
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