Online exports expected to be economic growth driver

Online exports are seen as a “launchpad” that helps businesses maintain sustainable revenue and increase exports in the context of rising inflation and consumers tightening their spending, according to insiders.
 Online exports expected to be economic growth driver ảnh 1Illustrative image (Photo: saigontimes.vn)
Hanoi (VNA) – Online exports are seen as a “launchpad” that helps businessesmaintain sustainable revenue and increase exports in the context of rising inflation and consumers tightening their spending, according to insiders.

Tran Thi Yen Phi, CEO of DSW Services and Trading Company Ltd, said the operation of online stores on cross-bordere-commerce platforms has helped the firm improve its revenue.

Vice Director of Proline Vitenam Production and Trading Co., Ltd Nguyen XuanHai Yen said online export is the most efficient and cost-effective way for small- and medium-sized enterprises (SMEs) to quickly reach customers.

Meanwhile, Roger Lou,National Director of Alibaba.com in Vietnam, said despite significant challenges andobstacles, a number of sectorsof Vietnam such as agriculture and food and beverage have achieved record-breakingexport figures.

The official expressed thebelief that global e-commerce can help Vietnamese SMEs increase their productionscale, and effectively exploit international markets towards further expandingtheir exports.

 Online exports expected to be economic growth driver ảnh 2Illustrative image (Photo: laodong.vn)

Amazon Global Selling’s report in 2022 showed that Vietnam’s retail revenuefrom cross-border goods reached 80 trillion VND (3.4 billion USD) in 2022, andcan hit 250 trillion VND by 2026.
Amazon Head ofGlobal Selling Vietnam Gijae Seong said Vietnam boasts advantages to promoteexports through online platforms.

Last year, nearly 10 million Vietnamese items were offered on this e-commerceplatform, up 35% compared to the same period of 2021.

In its latest survey, Access Partnership stated that Vietnam’s export revenuethrough e-commerce platforms is likely to reach nearly 300 trillion VND by 2027if domestic firms are supported to promote online exports.

Addressing a recent workshop, Lai Viet Anh, Vietnam e-Commerce and Digital Economy Agency under the Ministry of Industry and Trade, saidwith an annual retail e-commerce growth rate of over 20%, Vietnam is beingclassified among the countries with the sharpest e-commerce growth rate in theworld.

Thisis a potential industry and coming in line with the Government’s digital economicpolicy, she stressed, adding that the MoIT has been deploying programmes to supportSMEs in enhancing cross-border selling skills, and exploiting features ofglobal e-commerce platforms.

According to a report on theVietnam E-Business Index (EBI) 2023 conducted by the Vietnam E-commerceAssociation (Vecom), Vietnam's e-commerce market is expected to grow by 25% bythe end of 2023.

The booming e-commerce sector in2023 and development in the subsequent years is aided by a series of growthdrivers such as the wave of digital transformation, consumers' trust,technological infrastructure, and favourable mechanisms and policies issued bythe Vietnamese Government, the report said./. 
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