This promising outlook was unveiled during a seminar co-hosted by the Vietnam E-Commerce Association (VECOM) and Access Partnership, an international research organisation specialising in e-commerce, in Hanoi on December 16.
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| Illustrative photo (Source: VOV) |
Megan Lim, Director of Economic Strategy at Access Partnership, reported that Vietnam's B2C e-commerce export value already hit VND86 trillion in 2023.
Among the MSMEs engaged in cross-border e-commerce, a staggering 93% affirmed that they could not proceed with exports without leveraging platforms like Amazon Global Selling, Alibaba or eBay. Furthermore, 65% of the surveyed firms reported that more than half of their B2C e-commerce sales came from foreign markets, and 50% anticipated a growth rate of over 20% in their total retail sales over the next five years.
However, Lim also highlighted several major barriers that hinder MSMEs from expanding their investment in this burgeoning field, including high logistics costs, a shortage of talent, and limited knowledge of foreign markets.
VECOM Secretary General Tran Van Trong said since 2017, VECOM has held several cross-border e-commerce forums with up-to-date topics that have made a significant impact. It also established the Online Export Support Alliance aimed at creating a supportive ecosystem for businesses engaged in online export activities.
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| Illustrative photo (Source: vneconomy.vn) |
The Ministry of Industry and Trade is also accelerating the building of a draft master plan on national e-commerce development from 2026 to 2030. This plan underscores online export as a crucial component of e-commerce development, outlining specific goals, policies and solutions to support MSMEs.
The Vietnam e-commerce index report 2024 by VECOM revealed that the sector's growth rate in 2023 increased by over 25% compared to 2022, reaching US$25 billion. Of this, the online retail sector amounted to US$17.3 billion, with e-commerce accounting for around 10% of the total retail sales of goods and consumer services.
Addressing environmental issues in e-commerce, a recent survey found that 79% of online customers believe the State should quickly enact and disseminate policies and laws on environmental protection in e-commerce. Additionally, 71% suggested that businesses and online sellers should disclose eco-friendly options to help customers make informed decisions, and 61% of consumers underlined the need for awareness campaigns to promote environmental protection among online shoppers.
Mekong Connect Forum 2024 opens in An Giang
The Mekong Connect Forum 2024 kicked off in the Mekong Delta province of An Giang on December 17, focusing on seeking measures to enhance economic, trade, and technological cooperation in the region, Ho Chi Minh City, and the rest of the country towards sustainable development in a new competition landscape, reported Vietnam News Agency.
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| The Mekong Connect Forum 2024 kicks off in the Mekong Delta province of An Giang on December 17. (Photo: VNA) |
First held in 2015, the forum has become an annual reputable event that serves as a solid bridge connecting Mekong Delta localities with HCM City and others across the country.
The initiative began with the regional ABCD (An Giang, Ben Tre, Can Tho, Dong Thap) Mekong linkage initaitive and now includes HCM City, with this year’s event also engaged by the provinces of Vinh Long and Hau Giang. Mekong Connect is not only a platform for exchanging ideas and initiatives but also a space for local administration, businesses, experts, and policymakers to discuss practical solutions for promoting sustainable development across the region.
This year, the two-day forum focuses on three key areas to strengthen cooperation, namely economy, trade, and technology. The aim is to promote regional economic linkages, optimise local resources, and connect with HCM City and the rest of the country, with a focus on green and sustainable development.
Le Van Phuoc, Vice Chairman of the People’s Committee of An Giang, said that along with fostering connections and cooperation, the event is expected to create opportunities for developing value chains based on better understanding of market trends, agricultural product strategies, and technology application. It is also hoped to connect tourism routes and foster Vietnam-Cambodia border trade development, he said.
Following the opening ceremony, an exhibition spotlighting cooperation among businesses of HCM City and the Mekong Delta for sustainable development was launched, making a highlight of Mekong Connect 2024.
The exhibition features products of nearly 100 businesses from HCM City, An Giang, Ben Tre, Dong Thap, Can Tho, Vinh Long, and Hau Giang. It not only showcases their economic and social values but also sends a strong message about regional integration and sustainable development in the context of new competition.
Companies leading green transition, digital transformation, and climate-resilient economic projects from the participating localities were also spotlighted at the exhibition.
Within the Mekong Connect 2024 framework, a series of events will be held, including an international green startup festival, a Livestream sales session for agricultural products from the Mekong Delta, and a workshop on developing local resources and local economies through regional linkages in the context of new competition.
Vietnam promotes traditional culture in Saudi Arabia
A large number of Saudi Arabian people flocked to Vietnamese Day in capital Riyadh to explore Vietnamese dishes, traditional culture, and art from December 13 to 15, reported the Voice of Vietnam.
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| A booth displaying nem (spring rolls) attracts a large number of visitors. (Photo courtesy of the Embassy of Vietnam in Saudi Arabia) (Photo: VOV) |
This was the first time that Vietnamese Day in Saudi Arabia has taken place as part of activities to celebrate 25 years of diplomatic relations between the two countries.
During the three-day event, booths displaying phở (noodles) and nem (spring rolls) attracted thousands of visitors.
Guests also had a chance to make tò he (toy figurines) and create Dong Ho folk paintings and lacquer paintings under the instruction of Vietnamese artisans.
They also immersed themselves with performances of traditional Vietnamese musical instruments, including flutes, two-chord fiddles, monochords, and others.
In particular, both Saudi Arabian people and foreign visitors were eager to find out about Vietnam through an exhibition showcasing its culture and UNESCO-recognised world heritages.
Furthermore, the Embassy of Vietnam in Saudi Arabia organised a space displaying export products from nearly 100 Vietnamese companies.
The cultural programme is one of the main economic diplomacy activities carried out by the Embassy in support of Vietnamese businesses as they try to penetrate into this potential market.
Over 500 luxury brands offer huge discounts at 2024 City Sale
More than 500 luxury brands will offer huge discounts in the second phase of “CITY SALE 2024” - a programme aimed at boosting the sale of branded goods – in Ho Chi Minh City from December 18, 2024 to January 1, 2025, heard a press conference on December 16, reported the Voice of Vietnam.
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| Photo: VOV |
The programme is part of the Shopping Season 2024, a series of promotional schemes taking place across the city to stimulate domestic consumption, and to elevate Ho Chi Minh City as an attractive destination for international tourists, said Nguyen Khac Hieu, acting director of the Center for Supporting Industry Development.
The programme will be divided into two stages, with the first taking place from December 18 to 25 at two locations - Union Square Shopping Center and Menas Shopping Center.
The second stage will get underway at three locations - Gigamall Shopping Center, SC VivoCity Shopping Center, and Vincom Dong Khoi Shopping Center from December 27 to January 1, 2025.
Accordingly, more than 500 high-end brands from around the world will offer huge discounts of up to 80% on numerous products, such as fashion clothing products, perfumes, shoes, handbags, suitcases, bedding, and mattresses from 2022 to present.
In particular, the event is expected to witness the presence of renowned retail corporations such as Central Retail Group and Luxasia Group.
The first 2024 City Sale took place from August 30 to September 8, drawing the participation of more than 500 international and Vietnamese brands and 200,000 visitors.
More than VND10 billion in gifts and vouchers were also given to customers at the event./.