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Vietnam's e-com market expanded by 18% to $11.8 bn in 2020

02 Dec '21

2 min read

Pic: Thodonal | Dreamstime.com

Despite the impact of COVID-19 in 2020, Vietnam saw strong growth in e-commerce and became one of the fastest growing e-commerce markets in the Southeast Asian region, according to the Vietnam E-commerce and Digital Economy Agency under the ministry of industry and trade (MoIT). The domestic e-commerce market expanded by 18 per cent to $11.8 billion last year.

The agency said it will coordinate with domestic and foreign partners, including JD.com, Vinanutrifood, Viettel Post, VP Bank and Visa, to set up a Vietnamese National Pavilion on the JD.com e-commerce platform of China.

This will be the first Vietnamese pavilion on an international e-commerce platform to directly provide Vietnamese products to consumers in importing countries through trans-border e-commerce method, according to a newswire report.

An MoIT survey indicated that in 2020, 49.3 million Vietnamese citizens engaged in online shopping, a sharp rise from 32.7 million in 2016.

The agency will help connect businesses and give them guidelines on distributing products on the pavilion in line with regulations of the platform and the law of the importing country.

It will also seek resources from partners to promote Vietnamese products and support local firms to smoothly distribute their products on the JD e-commerce platform, thus increasing exports to China.

Fibre2Fashion News Desk (DS)

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