| Vietnam E-commerce Development Conference Coming Soon E-commerce: The Pillar to Promote the Digital Economy |
Vietnam's e-commerce is experiencing a period of 10 years of brilliant development. In recent times, Vietnam's e-commerce has continuously recorded outstanding growth at 16-30%/year and the market size is expected to reach 20.5 billion USD in 2023.
Currently, e-commerce is increasingly asserting itself as an important component of the digital economy in Vietnam. Along with that, the e-commerce market in Vietnam has also formed secondary service supply systems for the market including: technology platform services supporting e-commerce transactions, marketing services, online marketing communications, delivery services... The connection and sharing of these service supply systems increasingly helps optimize the process of linking manufacturers with consumers.
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| Ms. Le Hoang Oanh - Director of the Department of E-commerce and Digital Economy mentioned 5 factors promoting sustainable e-commerce development. |
Besides positive results, e-commerce also faces many difficulties and challenges such as: ensuring the origin of goods; ensuring safety and security of personal information; e-commerce logistics infrastructure has not yet met the growth rate of the market; consumer confidence in online transactions...
To gradually solve the difficulties and challenges in e-commerce, propose solutions, share at the conference on Vietnam E-commerce Development with the theme: Sustainable e-commerce development, on the morning of December 1, organized by the Department of E-commerce and Digital Economy in coordination with the Industry and Trade Newspaper, Ms. Le Hoang Oanh - Director of the Department of E-commerce and Digital Economy (Ministry of Industry and Trade) said that for e-commerce to develop sustainably, it is necessary to ensure the following 5 factors.
Firstly , the first factor for sustainable development of e-commerce is to maintain a positive and stable growth rate of e-commerce. Lacking one of the two factors of positive or stable growth, there is no sustainability in e-commerce development. E-commerce has grown very strongly recently. Having gone through many waves of development, Vietnamese e-commerce has maintained a continuous growth rate over the past 15 years with an average of 20%/year except for the period affected by Covid-19.
Vietnam’s e-commerce market is currently rated as having a growth rate in the Top 10 worldwide and is expected to continue to rise in the next 2 years. Thus, the stable and positive growth factor can be said to be the bright spot of Vietnam’s e-commerce. There is great pressure to maintain the above speed in the coming time.
"This bright spot needs to be constantly maintained and protected through perfecting legal frameworks and regular propaganda to ensure effective law enforcement in businesses and society," Ms. Le Hoang Oanh emphasized.
In addition to the legal corridor, development policies also need to be built and implemented. Stakeholders such as large enterprises in the industry and infrastructure enterprises need to join hands with state management agencies, set an example, take the lead, and support businesses to gradually apply e-commerce to help the whole society go online, using the advantages of e-commerce to improve production and business efficiency.
The second factor needed to ensure sustainable e-commerce development is balance and harmony. Balance and harmony here means harmonizing the interests of stakeholders from manufacturing enterprises, e-commerce platforms, delivery and payment service units, consumers... At the same time, gradually narrowing the gap, moving towards balancing e-commerce development between regions. Ensuring regional linkages in e-commerce development.
This means that investment and development of supporting infrastructure such as logistics, technology infrastructure, as well as training activities and capacity building for workers, need to focus on promoting regional connectivity, advantages of raw material areas, and labor resources in the region, not just the strength of each locality. Developing regional linkage and supply chains will create overall strength for local products to be competitive enough when participating in the e-commerce market.
The third factor is green development . E-commerce is also a field that can contribute a lot to saving energy and minimizing toxic waste to the environment. By optimizing business processes and transportation processes, e-commerce will reduce a large amount of vehicle emissions into the environment, while saving wasted energy.
Together with consumers, e-commerce platforms and digital platforms can encourage green products, prioritizing the use of environmentally friendly products, from containers to products purchased and sold. Through information technology systems, businesses can also establish control processes, evaluate the implementation of green processes, and raise awareness of the entire system about environmental protection.
Next, sustainable e-commerce development cannot lack the trust factor. First of all, it is the trust of small and medium-sized enterprises participating in the e-commerce ecosystem. Small businesses need to have market trust , need a mechanism to protect them so that they can innovate without being oppressed by large enterprises and unfairly competing. As for consumers, they need to have trust in the quality of goods, believe that their rights are protected when participating in shopping in the e-commerce market.
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| Vietnam E-commerce Development Conference with the theme: Sustainable e-commerce development, morning of December 1. |
In the past 10 years, although the Vietnamese e-commerce market has grown rapidly in quantity, the biggest reason that consumers still consider as obstacles when buying online is still "Poor quality compared to advertising", "Do not trust the seller", "Difficult to verify the quality of goods". From the perspective of state management agencies, in addition to regular inspection, examination and supervision, Ms. Oanh said that in order to change this situation, it is necessary to continue: Perfecting the law on competition in the e-commerce environment; Perfecting legal regulations on protecting consumer rights; Regularly inspecting, examining and supervising to promptly detect and handle violations; Building business rules and standards in the online environment.
The last factor is human resources . E-commerce is a new field, growing rapidly, but the scale of human resources has not kept up with the development needs of e-commerce. It is estimated that only 30% of human resources at companies providing e-commerce solutions are currently formally trained. Thus, up to 70% of e-commerce personnel in these units are recruited from other training majors such as commerce, business, information technology, etc. This also makes the demand for e-commerce human resources very large and if human resources for e-commerce are not guaranteed, it will be difficult to ensure the sustainability of e-commerce.
"In the previous period, the reason could be due to weak infrastructure for e-commerce, insufficient scale or inadequate awareness of the parties. However, the Department of E-commerce and Digital Economy believes that this is the right time for us to join hands to carry out a comprehensive transformation for the Vietnamese e-commerce market," said Ms. Oanh.
At this time, along with the Government's comprehensive digital transformation policy, related digital infrastructures such as smart logistics services, electronic payments, electronic invoices, electronic contracts, and electronic identity authentication have all been undergoing rapid changes in recent years. Ms. Le Hoang Oanh emphasized that having sufficient resources and materials to build an e-commerce ecosystem that focuses on quality and protects consumers and other parties and entities participating in transactions such as sellers, e-commerce service providers, etc. is a very important factor.
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