E-com to boost Vietnam's domestic market, exports: Deputy minister

Speaking at a seminar in Hanoi recently on market development for e-commerce firms in the digital transformation era, Tan said digital transformation will help Vietnamese businesses, especially small and medium enterprises (SMEs), seek a more flexible business model, save cost and optimise resources to overcome difficulties, according to a report in a Vietnamese newspaper.

Over the years, Vietnam has continuously recorded strong growth in the ratio of Internet users as well as the number of online shoppers, he said, noting that the value of online shopping through e-commerce platforms has risen sharply in the past five years. The figure increased from $5 billion in 2016 to over $10 billion in 2019 and $11.8 billion in 2020.

From the beginning of the pandemic to mid-2021, Vietnam had seen additional 8 million digital technology consumers, 55 per cent of whom were not from big cities. Ninety nine per cent of Vietnamese digital technology consumers said they will continue to use online services in the future, showing the close ties between Vietnamese consumers and digital services and products.

Fibre2Fashion News Desk (DS)