Vietnam’s B2C e-commerce revenue rose by 25 percent to 10.08 billion USD in 2019, according to the e-Commerce White Book 2020 released by the Ministry of Industry and Trade (MoIT)’s e-Commerce and Digital Economy Agency (iDEA).
Vietnam’s B2C e-commerce revenue grows by 25 percent to 10.08 billion USD in 2019, according to the e-Commerce White Book 2020. (Photo: VNA)
Hanoi (VNA) – Vietnam’s B2C e-commerce revenue rose by 25 percent to 10.08 billionUSD in 2019, according to the e-Commerce White Book 2020 released by theMinistry of Industry and Trade (MoIT)’s e-Commerce and Digital Economy Agency(iDEA).
The number ofonline shoppers grew about 1.12 percent year-on-year to 44.8 million people last year from 39.9 million people in theprevious year, says the book.Average spending for online shopping was 225 USD per person, 23 USD higher thanin 2018.
Head of theiDEA Dang Hoang Hai said 2019 saw a big change of Vietnam’s e-commerce sector when the countrywas implementing the government’s master plan for e-commerce developmentbetween 2016 and 2020.
He noted thate-commerce has smoothed the way for the flow of goods and services andsupported firms, especially small- and medium-sized enterprises, in seekingbusiness opportunities in the era of international integration and the FourthIndustrial Revolution.
The bookprovides readers with anoverall picture of Vietnam’se-commerce industry from legal environment, logistics infrastructure, paymentto use of e-commerce among businesses, exporters and people.
Vietnam hasset a target that the e-commerce industry would grow by 25 percent per year to 35billion USD with more than half of the population shopping online by the end of2025.
According tothe e-Commerce White Book 2019, e-commerce revenue jumped 30 percent from 6.2billion USD in 2017 to 8.06 billion USD in 2018.
The size ofthe local e-commerce market was expected to reach 13 billion USD this year.
The e-ConomySEA 2019 report by Google and Temasek predicted that e-commerce in Vietnamwould expand 43 percent per year in the 2015-25 period, making it the fastestgrowing e-commerce market in the region.
Vietnam is nowthe second fastest growing e-commerce market in Southeast Asia, afterIndonesia./.
Vietnamese e-commerce platform Tiki has reported an increase of 15 percent in sales since the beginning of February, saying in a newsletter it indicates the significant increase in shopping needs since the COVID-19 outbreak began.
A workshop will take place in Hanoi on July 30 to discuss cross-border e-commerce with Amazon and opportunities for exports, according to Deputy Director of the Hanoi Department of Industry and Trade Tran Thi Phuong Lan.
A shift to digital platforms is considered an effective means for businesses to expand export markets as Vietnam integrates more deeply into the global economy, Deputy Minister of Industry and Trade Cao Quoc Hung has said.
Vietnam’s export is set to grow 5 percent annually from 2021 to 2025 to reach 340 billion USD in 2025, according to the Ministry of Industry and Trade (MoIT)’s plan on socio-economic development for the five-year period.
The COVID-19 pandemic has become a golden opportunity for e-commerce trading floors, as well as social networks such as Facebook. However, the country has lost billions of dong in tax revenue due to e-commerce as there are no specific regulations on the sector.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Vietnam’s B2C e-commerce revenue grows by 25 percent to 10.08 billion USD in 2019, according to the e-Commerce White Book 2020. (Photo: VNA)
