In the future, the use of digital platforms by businesses will become a decisive factor in their success, delegates said at a conference in Ho Chi Minh City on October 12.
E-commerce has rocketed in Vietnam over the past five years, with online retail sales expanding 20 percent annually, according to the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade.
The total number of national registered domain names with “.vn” reached 453,979 as of last month, an increase of 9.33 percent over the same period last year, according to the Vietnam Internet Network Information Centre.
State management bodies need to consider the market in terms of the development of new technologies and business methods, rather than using administrative procedures to intervene in the operation of auto transport businesses, said Director of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung.
The Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade on August 8 launched the ERP Store solution with the aim of helping businesses reach the goal of a paperless office.
The Ministry of Industry and Trade (MoIT) plans to publish a list of e-commerce websites and mobile applications that violate laws and regulations on online trading.
E-commerce and online shopping are forecast to become a key trend in the world, accounting for 25 percent of the global retail revenue, experts said, suggesting Vietnam promptly complete infrastructure system to boost the growth of trade.
With a growing number of Internet users in the country, Vietnam has begun to apply information technology (IT) to develop online tourism, which is also a current global trend.
Many foreign giants have invested in Vietnam’s leading e-commerce platforms even as they incur big losses, as they continue to see the long-term potential of the country’s rapidly expanding online shopping sector.
The Vietnam E-commerce Association (VECOM) and the Bangkok-based Reed Tradex Co. Ltd, an exhibition organiser, have agreed to cooperate in promoting specialised workshops and events to introduce technological solutions and platforms for Vietnam’s retail and consumer sector.
Representatives of more than 40 Vietnamese and German companies in Vietnam pledged to adopt a zero-tolerance policy towards wildlife crimes at a workshop in Hanoi on June 29.
Blockchain could play an important role in building the digital economy and improving the efficiency of some fields that Vietnam is still weak such as logistics services and product origin trace.
Hanoi has been one of the two leading localities in e-commerce for the past five years, but the trend has posed considerable risks in database, technology, transaction procedures, legal regulations and technology standards.
Vietnam is emerging as a country with great potential to develop digital economy, as it has more than 58 million internet users out of its 90 million people and the over 125 million mobile subscribers.
The e-commerce market has taken off in Vietnam thanks to booming internet usage and smartphone ownership, along with massive investments from key retail players, local media reported.
The northern port city of Hai Phong ranked third in the 2017 e-Business Index (EBI), and though local infrastructure is all set for e-commerce, few companies are ready to trade online.
Since the Internet came to Vietnam 20 years ago, the country’s e-commerce is among the fastest growing globally and has become popular, especially among businesses.
The Vietnam Online Business Forum (VOBF) 2018, the second of its kind, opened in Hanoi on March 14 to the welcome of investors following the 2017 success.
Business
XIII National Congress of Communist Party of Vietnam
