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.
A discussion at the Amazon Week in Hanoi on October 27 (Photo: VNA)He said although global economies are recovering unevenly after the COVID-19 pandemic, cross-border e-commerce in the world, including Vietnam, has still witnessed breakthrough growth.
Statistics show that global e-commerce is forecast to expand by 28.4% annually between 2020 and 2027. Meanwhile, revenue from business-to-consumer (B2C) e-commerce in Vietnam is also expected to increase by over 20% each year.
Notably, within 12 months (from September 1, 2021 to August 31, 2022), Vietnamese sellers recorded impressive growth on Amazon, with nearly 10 million “Made in Vietnam” products delivered to global buyers via Amazon, Seong went on, adding the number of Vietnamese sellers on this online marketplace also surged 80% from a year earlier.
He noted Amazon’s 2023 strategy for Vietnam will focus on continuing to improve the awareness and readiness for cross-border e-commerce in the country, helping build global brands for Vietnamese products, assisting logistics services to expand globally, improving seller experience, and contributing to startup development.
Head of Amazon Global Selling Vietnam Gijae Seong speaks at the event on October 27 (Photo: VNA)Despite the pandemic’s impacts in 2020 and 2021, e-commerce has still been flourishing in Vietnam. It is forecast to post a double-digit growth this year to rank third in Southeast Asia, according to Anh.
In the time ahead, iDEA will step up cooperation with Amazon to create more chances for Vietnamese businesses and products to join the global market, the official added.
The Amazon Week is scheduled to take place in Hanoi on October 27 - 28 and in Ho Chi Minh City on October 31 - November 1. It will provide up-to-date and multidimensional information through roundtable discussions and workshops to help Vietnamese sellers explore export potential, expand their international market, and build up brands./.
You should also see
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
See more
Business
Vietnam-Singapore trade on the rise since start of 2024
Trade between Vietnam and Singapore topped 2.54 billion SGD (1.87 billion USD) in March, rising 4.29% year on year, according to the Trade Office of Vietnam in the city state.
Business
Petrol prices decrease slightly on April 25
The retail prices of petrol were adjusted down from 3pm on April 25 by the Ministry of Industry and Trade and the Ministry of Finance.
Business
Vietnamese canned sugarcane juice favoured in US
The first cases of Vietnamese canned sugarcane juice have hit supermarket shelves in Miami, the US state of Florida.
Business
Labels on foods exported to Singapore must be accurate: Trade counselor
Counsellor Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, has advised Vietnamese exporters to pay attention to labeling pre-packaged food products to ensure their credibility and image of businesses when exporting to the Singaporean market.
Business
April 25 gold bullion auction cancelled
The State Bank of Vietnam (SBV) has announced that it canceled the gold bullion auction scheduled for April 25 morning as only one business submitted its bidding form.
