Hanoi (VNA) –Vietnam is gradually shifting to a digital economy in which cross-bordertrading is becoming the core factor, an official from the Ministry of Planningand Investment (MPI) told a webinar on e-commerce held on March 22.

Nguyen Duc Trung, DeputyDirector of the MPI’s Enterprise Development Agency, said e-commerce increased18 percent in 2020, making Vietnam the only Southeast Asian nation to record adouble-digit growth rate in this regard.

Le Thi Ha, head of the policydivision at the Vietnam E-Commerce and Digital Economy Agency under theMinistry of Industry and Trade, held that despite numerous challenges caused bythe COVID-19 pandemic, enterprises that apply digital transformation still havetheir own opportunities.

She cited a survey conductedfrom January 2018 to September 2021 in 47 countries as showing that the rate ofonline spending in total global spending rose sharply, especially during thepandemic’s peak, by 14.9 percent, compared to 10.3 percent in 2019, before thepandemic broke out.

Vu Thi Thu, Chief CommercialOfficer for the Hanoi region of e-commerce platform Tiki, recommended thatinstead of hesitating, enterprises should operate on multiple e-commerceplatforms and optimise each platform’s advantages.

The firms newly present on thoseplatforms should grasp thorough understanding of their rivals, analyse themarket, develop long-term strategies, and then devise marketing plans and payattention to customer service, she noted, adding that the platforms also needto assist businesses to gain a foothold and develop.

Presenting conditions andskills for engaging in cross-border e-commerce, Trinh Khac Toan, Director forthe northern region of Amazon Global Selling Vietnam, recommended firms have specialisedpersonnel and strategies while understanding regulations in their targetmarkets, especially international ones.

Compared to 2020, the numbers of Vietnam’s small- and medium-sized enterprises (SMEs) with revenue of 100,000USD and 500,000 USD on Amazon last year increased 18 percent and 53 percent,respectively. The number of products sold by Vietnamese SMEs grew 34 percent.

At the event, participantsalso pointed out risks in e-commerce transactions and prevention measures./.