As soon as Temu temporarily stopped operating to complete registration procedures with the Ministry of Industry and Trade, the e-commerce platform nongsan.buudien.vn was officially launched.
Competitive advantage
Nongsan.buudien.vn is the first e-commerce platform specializing in high-quality agricultural products in Vietnam, owned and operated by Vietnam Post Corporation (Vietnam Post). This event marks a major step forward for domestic enterprises in the e-commerce market.
Experts say that the Vietnamese e-commerce market has been growing rapidly, and many new shopping trends will appear in the near future. In addition, the fact that e-commerce platforms are always launching massive shopping stimulus programs shows that the e-commerce "race" will become more and more fierce.
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| E-commerce continues to grow strongly in Vietnam. Photo: T. Tam |
A report by the Ministry of Industry and Trade shows that in the first 10 months of 2024, the growth of the e-commerce market from direct transactions between businesses and consumers (B2C) reached 18-20%, completing the target assigned by the Government.
Many people predict that by 2025, the e-commerce market will exceed the 25 billion USD mark. This is completely reasonable when the Vietnamese e-commerce market is witnessing a strong increase in taxes from business organizations and individuals.
Currently, there are 116 foreign suppliers nationwide registering, declaring and paying taxes through the electronic information portal for foreign suppliers, with a budget revenue of VND 19,774 billion. The latest data shows that the revenue directly declared through the information portal this year alone reached VND 8,687 billion, an increase of 26% over the same period; including major e-commerce platforms such as Google, Meta (Facebook), Microsoft, TikTok, Netflix, Apple...
In addition, in the 11 months of 2024, organizations and individuals with e-commerce business activities also paid about 108,000 billion VND in taxes, an increase of 22% over the same period in 2023.
Mr. Nguyen Lam Thanh - TikTok Representative in Vietnam, Vice President of Vietnam Digital Communications Association - analyzed: E-commerce is part of digital transformation in the retail sector. The statistics of over 20 billion USD in retail revenue in the Vietnamese e-commerce market are not complete, but it shows that each year in Vietnam, there is a very large number of orders on e-commerce platforms.
“ If we observe, we will see that recently, some streets that used to specialize in selling fashion items have disappeared. In some markets, small traders are also facing difficulties, as customers have decreased. Some Vietnamese goods, even famous domestic fashion brands, but if they do not promptly apply technology in general and the internet and e-commerce in particular, they will face many difficulties ,” Mr. Nguyen Lam Thanh emphasized.
The Vice President of the Vietnam Digital Communications Association also shared: Since 2024, the trend of shopping combined with entertainment has been very clear. Businesses must grasp this trend to transform. However, currently in Vietnam, many businesses still do not see the risks of not integrating into the digital transformation. If businesses ignore digital transformation in the distribution of goods and brand promotion, there will come a day when consumers will no longer know them.
Solving challenges, creating momentum for e-commerce development
As one of the powerful online tools that can help businesses develop and expand globally, however, e-commerce development will also face many challenges, especially for small, medium and micro enterprises, such as limited digital knowledge and skills; low competitiveness; lack of market information, issues related to legal barriers, tariffs, logistics, payments, etc.
In addition, fluctuations in the international market, trade tensions, and increasing demands for quality standards require great efforts from the business community.
As a corporation with a development journey of over 30 years, Mr. Tran Quoc Bao - Deputy General Director of KIDO Group, and CEO of E2E e-commerce channel (under KIDO Group) - shared: Currently, Vietnamese enterprises are facing 3 core difficulties when participating in the e-commerce market. The first is the issue of technology: E-commerce is the digital transformation of the retail industry and e-commerce is the digital transformation of distribution, both are related to technology, however, the level of adaptation of enterprises is still quite limited; the second is about perseverance; third, in the past, the brand of high-quality Vietnamese goods was a sign of Vietnamese goods development, but now it is necessary to build a recognition sign from a state agency with a larger nature and scale to bring Vietnamese goods to the world.
Sharing the same opinion with Mr. Tran Quoc Bao, many experts believe that in order to develop sustainably, it is necessary to invest in developing human resources in the field of e-commerce, because currently most of our businesses are still very small in scale compared to the world, so it is difficult to have enough resources to keep up.
In order to contribute to promoting e-commerce, recently, Prime Minister Pham Minh Chinh signed Official Dispatch No. 119/CD-TTg requesting a number of relevant ministries and localities to continue to promote state management of e-commerce.
In the telegram, the Prime Minister requested the Ministry of Industry and Trade to preside over and coordinate with relevant ministries and agencies to continue reviewing the Law on Commerce and related legal documents to promptly propose the development, amendment and supplementation of legal policies on e-commerce management; proactively develop policies to manage transactions in e-commerce activities for export and import goods; summarize and evaluate the implementation of the National E-commerce Development Master Plan for the 2021-2025 period, on that basis, research, develop and submit to competent authorities for approval of the plan for the 2026-2030 period...
Promoting e-commerce infrastructure
In fact, in recent times, the Ministry of Industry and Trade has coordinated with ministries, branches, localities and enterprises to deploy criteria and standards on trade infrastructure; focusing on promoting the development of e-commerce infrastructure, creating momentum for the development of the digital economy and e-commerce, contributing to creating new development space.
At the same time, build and operate the Vietnam Electronic Contract Development Axis with the aim of supporting organizations, businesses and individuals in checking, processing and centralizing electronic contract information of individuals, businesses and organizations in commercial activities; build and operate the KeyPay online payment support platform to develop the national e-commerce payment system, payment infrastructure to ensure support for public administrative services.
Support businesses in applying digital technology and e-commerce in production and business activities; deploy solutions to support import-export businesses in declaring C/O (ecosys.gov.vn) with Vsign form and Service to support declaration of origin of goods; deploy solutions and programs to connect consumption of goods in the domestic market, promote exports through cross-border e-commerce...; deploy the 2024 online shopping day event; build and deploy a unified e-commerce platform for 63 provinces/cities (sanviet.vn)...
However, in the context of deep integration and fierce competition, to protect consumers in cyberspace, in the coming time, the Ministry of Industry and Trade will continue to perfect the legal framework, closely follow the development of e-commerce in the world and in the country to promptly issue policies to manage and promote the development of e-commerce in Vietnam.
Proactively connect and share data between ministries, branches, and localities, coordinate with the National Steering Committee 389, the Ministry of Public Security, etc. to exploit information, prevent counterfeit, fake, and poor-quality goods; promote communication, update, and post information warning of fraudulent behavior, commercial fraud, and abuse of e-commerce to warn consumers, etc.
Source: https://congthuong.vn/thuong-mai-dien-tu-cuoc-dua-tiep-tuc-soi-dong-364259.html
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