Brand building and E-commerce development for SMBs in Vietnam

17:58 | 05/08/2016 Trade

(VEN) - 5th August, The Vietnam E-Commerce Association (VECOM) in collaboration with the Industry and Trade Department of Hai Phong Province organized a Verisign sponsored seminar for small and medium sized businesses (SMBs) in Hai Phong.

Brand building and E-commerce development for SMBs in Vietnam

Mr. Nguyen Thanh Hung, President of VECOM said: “In Vietnam, E-commerce has been developing rapidly in recent years and projected to grow very strongly over the coming years

The seminar aimed at providing SMBs an overview of e-commerce and its immense growth potential in Vietnam, and effective tools to create an online business, including building a website.

The presentations by leading consultants and experts in the field of website building, online payment, brand development based on domain name, online advertising, etc. have drawn the attention of hundreds of SMB participants, including members of key business associations in Hai Phong and neighboring provinces.

E-commerce is booming, globally. In Asia, Vietnam with its population of over 90 million is a potential market for e-commerce. Mr. Nguyen Thanh Hung, President of VECOM said: “In Vietnam, E-commerce has been developing rapidly in recent years and projected to grow very strongly over the coming years. Last year, online retailers posted US$4 billion in sales and by 2020, it is expected to increase to US$10 billion, which accounts for 5 per cent of Vietnam's total retail sales. Therefore, SMBs find ways to meet the market’s demand in order to retain their competitive edge in the business environment.”

As stated in the Vietnam E-Business Index 2015, the percentage of Vietnamese enterprises earning higher revenue by online sales increased by 43 per cent in 2015. Additionally, 62 per cent of Internet users in Vietnam claimed to have made purchases online in 2015 and the related online purchase value was around US$160 per person. However, the value is still low compared to the huge potential of the market. Despite having more advantages than traditional trading methods, the market has not tapped its full potential due to low customer confidence in online shopping.

Mr. Ngo Viet Cuong, Deputy Director of Nhan Hoa Software Co.Ltd: Choosing the right domain name is the first step towards building a successful and credible online presence. 


 

Mr. Ngo Viet Cuong, Deputy Director of Nhan Hoa Software Co. Ltd., one of leading domain providers in Vietnam revealed: “Choosing the right domain name is the first step towards building a successful and credible online presence. By using trusted domain extensions, there is a level of credibility awarded to these businesses which will help them gain customers’ trust. For that reason, we advise businesses to choose .com for their websites because it is the global trusted standard for doing business online. Once a business has an official online presence with .com, it can access larger markets and be visible to wider audience not only in the country but beyond its boundaries.”

Given the 100 per cent operational accuracy and stability of the .com DNS infrastructure for more than 18 years and the over 126.6 million .com domain names registered worldwide, registering a .com domain name is a great option for SMBs to develop their online presence. SMBs looking to learn more about .com, register new domain names, and set up e-commerce websites can contact one of Verisign’s local registrars like Nhan Hoa Software, or visit Verisign.com/VN for more information.

P.V

 

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