Vietnam: E-commerce forecast to make breakthroughs this year

Hanoi, February 16 (VNA) – E-commerce is projected to continue thriving and creating a momentum for economic growth in 2022, according to experts. It also opens up chances for Vietnamese firms to build new business strategies and access modern distribution channels in a bid to expand market and recover in the post-pandemic period. To facilitate e-commerce’s development, Dang Hoang Hai, Director of the Vietnam E-Commerce and Digital Economy Agency (IDEA) under the Ministry of Industry and Trade, said the IDEA will expand the virtual programme promoting Vietnamese products and arrange training on e-commerce for firms nationwide. The agency will work to complete an e-payment system and improve quality of transport and delivery services, strengthening consumers’ trust in e-commerce in the 2022-25 period. Consumers have become familiar and favoured cashless payment over the past two years, with the number of payments made via e-wallets surging 10-fold. It is noteworthy that half of Vietnam’s population are using e-commerce. Purchase volume on major online marketplaces like Tiki and Lazada surged 40-100 percent on the threshold of the Tet (Lunar New Year) holiday. Experts in the field also hope for policies conducive for e-commerce’s development. They also stressed the need to reduce inconsistent and overlapping regulations stipulated by different ministries and sectors./.