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E-commerce to give firms more export chances: workshop

Vietnam has been recording strong development in e-commerce, through which businesses will have more chances to promote export, an official said at a workshop in Hanoi on October 18.

Dang Hoang Hai, Director of the E-commerce and Digital Economy Agency (IDEA) under the Ministry of Industry and Trade, said Vietnam is said to be one of the fastest growing e-commerce markets in Southeast Asia. Besides, a big population of over 90 million with high percentages of young people and internet users is a basis for the country’s e-commerce market to keep expanding in the future.

He cited his agency’s statistics as showing that the growth rate of business-to-consumer (B2C) retail sales via e-commerce soared by 30 percent in 2018. With such a continually high growth rate since 2015, Vietnam is confident that the B2C retail e-commerce sales will reach the target of 10 billion USD in 2020.

The legal framework on e-commerce is now relatively complete, Hai said, adding that with the mushrooming of e-commerce platforms and accompanied services, e-commerce is becoming a useful tool for businesses to capitalise on chances to make breakthroughs in development, giving them more opportunities to boost export.