16:26 | 31/03/2019 Companies
The Vietnam Trade Promotion Agency (Vietrade) and Amazon Global Selling will select 100 Vietnamese businesses to sell their products on the retail giant’s online network.
|Gijae Seong, head of Amazon Global Selling Singapore presents opportunities to sell products on Amazon’s ecommerce site – PHOTO: AMAZON GLOBAL SELLING|
Vietrade and Amazon experts will guide the firms how to complete export-import and customs procedures, build online shops on Amazon.com, study the US market and develop their products and brands.
The businesses will also receive training on e-commerce and selling skills on Amazon.
According to the General Statistics Office (GSO), 98.1 percent of Vietnam’s businesses are small and medium-sized enterprises (SMEs). Meanwhile, the World Bank reported that 60 percent of SMEs in 2018 could not access loans from official sources. They still cannot make appropriate investments to upgrade the quality of products for both domestic consumption and exports.
Before Amazon, Walmart carried out a campaign to seek Vietnamese suppliers. Vinamit's fruit chips are available at Walmart China, while Trung Nguyen coffee is sold at Walmarts in Chile, Brazil, Mexico and China.
Vietnam’s e-commerce value climbed to about 4 billion USD in 2015 and hit 5.1 billion USD in 2016 and 6.2 billion USD in 2017, becoming one of the fastest-growing markets in the world.
Revenue from online retail in the country is forecast to hit 10 billion USD by 2020, accounting for 5 percent of the country’s retail market.