Daily visits to local e-commerce sites top 3.5 million: VECOM Business

Daily visits to local e-commerce sites top 3.5 million: VECOM

Online shopping traffic in Vietnam so far this year rocketed over 150 percent against a year earlier, with daily visits to e-commerce sites growing to 3.5 million, Nguyen Ngoc Dung, Deputy Chairman of the Vietnam e-Commerce Association (VECOM), told a workshop on November 10.
Handling fake goods on e-commerce platforms Business

Handling fake goods on e-commerce platforms

About 30,000 e-commerce stores were taken down in the first nine months of this year due to trade fraud, counterfeit and contraband goods, and the scale of the problem is looking daunting.
Mechanism needed to boost cashless payments Business

Mechanism needed to boost cashless payments

Bolstering the use of e-payments is a key trend within Industry 4.0 but experts acknowledge that use in Vietnam is yet to be widespread due to a long-held preference for cash and the lack of a specific legal framework for such payments.
E-commerce booming but hard to control Business

E-commerce booming but hard to control

E-commerce in Vietnam is growing, however many individuals and businesses are taking advantage of online platforms to sell poor quality and fake goods, harming customers and causing lost tax revenues.
Vietnam accelerates non-cash payment Business

Vietnam accelerates non-cash payment

Non-cash payments bring enormous benefits for individuals, banks and others, helping increase transparency while reducing social expenses relating to using cash.
E-commerce looks towards sustainable development Business

E-commerce looks towards sustainable development

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.
Businesses willing to pay more for mobile ads Business

Businesses willing to pay more for mobile ads

Although the mobile advertisement market in Vietnam is still modest as compared to regional countries, businesses are said to splash out 200 million USD on advertisement on mobile platform in 2020, much higher than the amount of 78 million USD recorded in 2017.
Finance Ministry proposes tax law changes Business

Finance Ministry proposes tax law changes

The Ministry of Finance has proposed amendments to the Law on Tax Management, aiming to enhance efficiency of tax collection from multinational companies, cross-border transactions and online businesses.