eCommerce platforms that raise the level of enterprises

HANOI: Cross-Border eCommerce Summit 2024 emphasizes the forward-looking approach of leveraging cross-border e-commerce as a suitable means to elevate Vietnamese enterprises and brands to the global arena, thereby strengthening import-export activities.

The event titled “Quintessential Vietnamese Goods Growing Around the World” was organized by Amazon Global Selling Vietnam in cooperation with the Vietnam Agency for E-Commerce and Digital Economy under the Ministry of Industry and Trade.

A number of promising results were also highlighted, showing that the recent explosion in e-commerce has significantly supported Vietnam’s import-export activities.

Nguyen Thi Minh Huyen, deputy director of Vedea, said retail e-commerce turnover has grown at an average rate of about 20% over the past decade, making Vietnam one of the fastest-growing e-commerce markets in the region and the world.

The global eCommerce market is expected to grow rapidly, with estimated revenues reaching $7.4 trillion by 2025.

In the context of Vietnam’s deepening integration into the global economy, coupled with opportunities from next-generation free trade agreements, the trend of shifting from traditional business to digital platforms is seen as an effective way for companies to penetrate and expand into export markets, Huyen said.

The authorities are implementing the National Master Plan for the Development of E-Commerce (2021-2025) to strengthen the eCommerce market and consumer confidence, she added. The priorities are both promoting exports and increasing domestic consumption of local products through e-commerce.

The agency is currently working with provincial governments to improve e-commerce management, support digital transformation and promote local products on platforms such as San Viet.

Gijae Song, general manager of Amazon Global Selling Vietnam, said that in just the last five years, the number of products sold by Vietnamese partners on Amazon has increased by more than 300%, while the number of Vietnamese partner companies are achieving revenue of $1 million per year on Amazon increased almost tenfold.

During the same period, 35 times more Vietnamese companies also participated in Amazon’s Brand Registry program. The benefits for Vietnamese sellers include vibrant online seller communities and significant production advantages

However, Vietnamese manufacturers are mainly focused on fulfilling large-scale, pre-planned orders, which makes it difficult to adapt to the rapidly changing demands of online retail. —Vietnam News/ANN