E- commerce growing by leaps and bounds

14:22 | 27/01/2017 Information Technology

(VEN) - Deputy Minister of Industry and Trade Ho Thi Kim Thoa said recently that Vietnam sees potential in e-commerce development, and is striving to reach e-commerce revenues of US$10 billion by 2020.

e commerce growing by leaps and bounds
E-commerce in Vietnam has seen great advances

E-shopping boom

According to Deputy Director Lai Viet Anh of the Ministry of Industry and Trade’s Vietnam E-commerce and Information Technology Agency, e-commerce has seen remarkable advances. This was reflected well in the results of the biggest online shopping day in Vietnam among the Ministry of Industry and Trade’s National E-commerce Development Program on December 2, 2016.

More than 700,000 online customers visited the websites of the firms that took part in the “shopathon”. Over 3,000 businesses took part in the event by providing discounts on 360,000 products and services.

According to preliminary statistics, sales by the 30 large companies participating in the event reached VND644 billion, a more than three-fold increase compared to a year ago.

E-commerce has helped Vietnam rank among the top 20 countries in the world in terms of the number of internet users. More than 60 percent of internet users are aged 16 to 45, an age group typified by high demand for consumer goods available through e-shopping.

The Vietnam E-commerce and Information Technology Agency’s data shows that internet and electronic devices play a key role in online shopping. More than 40 percent of Vietnam’s population currently use the internet, and 58 percent of them have participated in online transactions. Moreover, nearly two-thirds of 120 million mobile subscribers have used their devices for online shopping.

Seven goals

“In addition to the state’s support, businesses need to be more active. A goal is set for Vietnam to reach e-commerce revenues of US$10 billion, accounting for five percent of the country’s retail sales by 2020,” said Lai Viet Anh.

Deputy Minister of Industry and Trade Ho Thi Kim Thoa noted that the prime minister issued Decision 1563/QD-TTg dated August 8, 2016 approving an overall plan for e-commerce development during the 2016-2020 period.

The decision covers seven goals: e-commerce policy and legislation improvement; e-commerce development and management improvement; construction and improvement of essential infrastructure for e-commerce; e-commerce human resource development; development and application of new technologies in e-commerce; e-commerce development in key regions and fields; and promoting international cooperation in e-commerce.

The policy guidelines call for businesses to play an important role in e-commerce development, and for the state to implement management, develop infrastructure and create a favorable environment for e-commerce.

Three Online Friday events are scheduled for 2017, including encouraging e-payments in May, promoting shopping via mobile platforms in September, and holding the biggest online shopping day in December.

Anh Lan