Business

Vietnam’s e-commerce predicted to grow fastest in SEA by 2026

Vietnam’s e-commerce market will become the fastest-growing in Southeast Asia by 2026, head of Amazon Global Selling Vietnam Gijae Seong cited a recent report while addressing the launch of the Amazon Week in Hanoi on October 27.
Vietnam’s e-commerce predicted to grow fastest in SEA by 2026 ảnh 1A discussion at the Amazon Week in Hanoi on October 27 (Photo: VNA)
Hanoi (VNA) – Vietnam’se-commerce market will become the fastest-growing in Southeast Asia by2026, head of AmazonGlobal Selling Vietnam Gijae Seong cited a recent report while addressing thelaunch of the Amazon Week in Hanoi on October 27.

He said although global economies arerecovering unevenly after the COVID-19 pandemic, cross-border e-commerce in theworld, including Vietnam, has still witnessed breakthrough growth.

Statisticsshow that global e-commerce is forecast to expand by 28.4% annually between2020 and 2027. Meanwhile, revenue from business-to-consumer (B2C) e-commerce inVietnam is also expected to increase by over 20% each year.

Notably, within 12 months (fromSeptember 1, 2021 to August 31, 2022), Vietnamese sellers recorded impressivegrowth on Amazon, with nearly 10 million “Made in Vietnam” products deliveredto global buyers via Amazon, Seong went on, adding the number of Vietnamesesellers on this online marketplace also surged 80% from a year earlier.

He noted Amazon’s 2023 strategy forVietnam will focus on continuing to improve the awareness and readiness forcross-border e-commerce in the country, helping build global brands forVietnamese products, assisting logistics services to expand globally, improvingseller experience, and contributing to startup development.

Vietnam’s e-commerce predicted to grow fastest in SEA by 2026 ảnh 2Head of Amazon Global Selling Vietnam Gijae Seong speaks at the event on October 27 (Photo: VNA)
Lai Viet Anh, Deputy Director of theVietnam E-Commerce and Digital Economy Agency (iDEA) under the Ministry ofIndustry and Trade, said over the last 10 years, e-commerce in the country hascontinually grown by 25 - 30% while its size increased to 13.7 billion USD in2021. It has made up over 7% of the total flows of consumer goods and services andbecome a critically important distribution channel aside traditional ones.

Despitethe pandemic’s impacts in 2020 and 2021, e-commerce has still been flourishingin Vietnam. It is forecast to post a double-digit growth this year to rankthird in Southeast Asia, according to Anh.

Inthe time ahead, iDEA will step up cooperation with Amazon to create morechances for Vietnamese businesses and products to join the global market, theofficial added.

TheAmazon Week is scheduled to take place in Hanoi on October 27 - 28 and in Ho ChiMinh City on October 31 - November 1. It will provide up-to-date andmultidimensional information through roundtable discussions and workshops tohelp Vietnamese sellers explore export potential, expand their internationalmarket, and build up brands./.
VNA
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