Vietnam’s e-commerce market is estimated at 22 billion USD this year, ranking third in Southeast Asia behind Indonesia (65 billion USD) and Thailand (26 billion USD).
A person shopping online via an e-commerce platform (Photo: nld.com.vn)
Hanoi (VNS/VNA) – Vietnam’s e-commerce market is estimated at 22 billion USD this year, ranking third in Southeast Asia behind Indonesia (65 billion USD) and Thailand (26 billion USD).
The market has grown by 18% from last year, the third fastest rate behind the Philippines (23%) and Thailand (19%), according to the e-Conomy SEA 2024 report by Google, Temasek and Bain & Company.
Vietnam’s market is forecast to maintain this growth rate, averaging over 19% annually and reaching 63 billion USD by 2030. At that point, it is projected to surpass Thailand, ranking second in the region, just behind Indonesia.
E-commerce accounts for over 60% of Vietnam’s digital economy this year, establishing it as one of the two main growth drivers alongside online tourism.
Retail e-commerce platforms, including Shopee, TikTok Shop, Lazada, Tiki, and Sendo, have recently been joined by cross-border giants like Shein, further expanding market choices.
This shift has propelled live streaming and affordable goods to the forefront of e-commerce trends.
According to the report, the number of consumer brands in Vietnam with video channels has increased by 5% over the past two years.
TikTok Shop has seen high growth in gross merchandise value (GMV), driven by the effective combination of shopping and entertainment.
On October 10, the top 100 TikTok Shop accounts drew more than 11.7 million views and nearly 500,000 engagements, according to statistics from VeenaMedia and Stickler technology platform.
Artificial Intelligence (AI) is also playing an increasingly dominant role in shaping consumer shopping habits and behaviours.
🐭 Google's AI Interest Index, calculated based on search volumes related to AI, is particularly high in Ho Chi Minh City and Hanoi. A Lazada survey reveals that 88% of respondents in Southeast Asia reported making purchase decisions based on AI-generated content and product suggestions./.
Ho Chi Minh City’s Department of Industry and Trade has announced that it plans to inspect businesses selling on online platforms which show signs of violating regulations.
In the era of globalisation, e-commerce is rapidly becoming a popular shopping channel in Vietnam. However, the strong presence of international e-commerce giants, particularly from China, poses significant challenges for Vietnamese enterprises.
Vietnam has one of the most dynamic live commerce markets globally, driven by its growing population, tech-savvy culture, and an expanding base of discerning young consumers, experts said.
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.
