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Economic Sector

Last updated: Thursday, December 14, 2017

 

Vietnamese Businesses Enhance E-commerce Strategy to Reach Sustainable Development

Posted: Thursday, June 08, 2017


On June 7, 2017, with the support from Ministry of Industry and Trade, Ministry of Science and Technology and Ministry of Information and communications, Vietnam Internet Association (VIA) and Adpex JSC have organized the ICT COMM seminar on “E-COMMERCE TRENDS AND LEGAL ISSUES” at Saigon Exhibition and Convention Center, Ho Chi Minh city. The seminar aimed to bring SMBs an overview on the development and trends of e-commerce in Vietnam in 2017.

The event has drawn the attention of over 200 business owners from active SMBs in HCMC. Spokesperson attending the event were well known experts in various IT related fields from leading corporations and enterprises such as Microsoft, IM Group, VNG, P.A Vietnam, Verisign, etc. The event brings businesses opportunities to understand the situations to timely adjust business strategies in line with technological and digital changes, legal issues in e-commerce and updates on new payment methods.

According to Nielsen, Vietnam is leading the world in terms of the number of people who love technological products. Survey result in 2016 showed that 90% of urban residents use smartphones and their average Internet access time per week was 24.7 hours, which was only lower that Singapore. According to the e-commerce developing plan for 2016-2020, the growth rate of e-commerce in the retail sector will reach about 20% per year and by 2020 will be about $10 billion. However, e-commerce in retail sector is rising faster and is expected to grow at 25% in 2017.

Despite the opportunities for great development, experts said that there were still obstacles that prevent the sustainable development of e-commerce which were the trust of consumers in quality of goods, services they bought online, and the security for online payment. In fact, e-commerce has not earned customers’ trust as dispute in online shopping is still available due to the difference between advertising and real images of products, wrong time delivery, no invoices, etc. Therefore, Department of E-commerce is making efforts to ensure transparency in e-commerce. If there is unfair business activity, businesses and consumers can report to the Department of E-commerce and Information Technology for support.

Mr. Vu Hoang Lien, President of Vietnam Internet Association said: “Vietnam e-commerce has grown rapidly in the last 10 years but the market size is not large and the transaction scale is rather small. Retailers need to invest in marketing and online sales, improve delivery services, and integrate online payment on their website. Businesses also need to keep up with the latest e-commerce trends to stay competitive. Particularly, building brand reputation and credibility is the prerequisite to enhance business competitiveness. For e-commerce businesses, choosing the right domain name is the first step to build a trustworthy online presence, thereby, ensures business success.

“A strong online presence requires a successful website with the right domain name. Especially for businesses with global vision, .com has always been trusted thanks to its availability, credibility and high stability for more than 18 years,” Mr. Hoc Nguyen of P.A Vietnam said.

H.N








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