Fado Vietnam inks deal with Alibaba to support domestic firms

15:30 | 30/03/2019 Companies

Cross-border e-commerce platform Fado Vietnam and its Chinese counterpart Alibaba signed a cooperation agreement on March 14 in Ho Chi Minh City to launch a new trading channel supporting Vietnamese firms, especially small- and medium- sized enterprises (SMEs).

At the signing ceremony - Source: congthuong.vn

Under the cooperation deal, Vietnamese firms will be able to promote their products at international markets through Alibaba via access to the website alibaba.fado.com.

General Director of Fado Vietnam Pham Dat said the collaboration will bring great values to Vietnamese SMEs, in the context that exports play an important role in the country’s economy.

In the coming time, Fado is hoped to support businesses to raise their online sales, as well as facilitate their trading activities worldwide.

Through alibaba.com, one of the world’s leading e-commerce websites, Vietnamese firms will have the chance to promote their goods to 260 million purchasing companies of 240 countries and territories.

According to the 2018 report on Vietnam’s e-commerce, up to 32 percent of Vietnamese SMEs have established cooperation deals with foreign partners through online platforms. By joining the B2B e-commerce platform, exporting firms will be able to access global consumers with lower costs of trade promotion activities.

Fado became Alibaba’s authorised partner in Vietnam since late 2018 to help Vietnamese firms introduce their products through the website, including the country’s staples in such sectors as footwear, handicraft, and industry.

Theo VNA