Great potential for cross-border e-commerce
According to a report by Cognitive Market Research, the global cross-border e-commerce market is expected to reach $791.5 billion by 2024 and will grow at a compound annual growth rate (CAGR) of 30.50% from 2024 to 2031. To maximize the opportunities from the boom of cross-border e-commerce, many countries, including Vietnam, are focusing on building and perfecting policies to support businesses in applying and deploying cross-border e-commerce as a better market expansion tool.
Vietnam is an export economy, increasingly integrating deeply with the regional and world economy, and has strengths in textiles, footwear, rice, agricultural products, etc., so the room and potential for cross-border e-commerce is huge.
According to Lai Viet Anh, Deputy Director of the Department of E-commerce and Digital Economy (Ministry of Industry and Trade), one of the tasks set out in the National E-commerce Development Master Plan for the 2026-2030 period (the Ministry of Industry and Trade is submitting to the Government for promulgation) is to develop e-commerce in the direction of exporting "Made in Vietnam" products to international markets, while at the same time, supporting small and medium enterprises and manufacturers to improve their competitiveness to be able to promote sales to the global market.
In the context of Vietnam's increasingly deep integration with the world economy, along with opportunities from new generation free trade agreements, participating in the online export and import system and cross-border e-commerce channels is an effective solution, opening up many opportunities for Vietnamese enterprises to expand their customer base, increase market access, improve business capacity and the quality value of goods originating from Vietnam, bringing Vietnamese brands to consumers in many markets around the world.
Cross-border e-commerce gives Vietnamese products wings to go further
Through cross-border e-commerce platforms such as Amazon, eBay, Alibaba, Shopee, Lazada, etc., Vietnamese businesses can connect with billions of consumers around the world, especially developing countries and large economies such as the US, China, Europe, and ASEAN countries. Mr. Jason Bay, Country Director (Vietnam market), Sea Limited Group, said that Vietnamese e-commerce sellers really have a cost advantage when bringing products to foreign markets, especially for price-sensitive customers, and Vietnam has great potential to promote export growth through cross-border e-commerce.
E-commerce not only helps reduce costs and increase efficiency in export activities, but also creates opportunities to expand global markets, helps businesses easily connect with international customers and improve export processes. This is an effective tool to help businesses, especially small and medium enterprises, penetrate and develop international markets.
E-commerce plays an important role in promoting export activities.
Regarding the situation of 5 years of implementing online exports via Amazon, CEO of Amazon Global Selling Vietnam Gajae Seong said that Vietnamese businesses have always created miracles in cross-border exports when in just 5 years (from 2019 - 2023), the number of products sold by Vietnamese sales partners on Amazon has increased by more than 300%.
In the context of integration, free trade agreements (FTAs) that Vietnam participates in such as CPTPP, EVFTA, or RCEP bring tariff incentives, helping Vietnamese enterprises export products more easily and compete better in the international market. Thus, along with export incentive policies on tax, finance and export from the Government, taking advantage of incentives from FTAs will help Vietnamese enterprises reduce risks when participating in cross-border e-commerce. From the many outstanding advantages above, it can be affirmed that cross-border e-commerce has created a launching pad for enterprises of all sectors and scales to successfully do business and build global brands. Taking advantage of international e-commerce platforms will help Vietnamese enterprises not only develop domestically but also reach out to the world, creating many opportunities and the ability for sustainable growth.
Source: https://moit.gov.vn/tin-tuc/chuyen-doi-so/thuong-mai-dien-tu-dong-vai-tro-quan-trong-trong-viec-thuc-day-hoat-dong-xuat-khau.html
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