Speaking at a conference held by HPA in Hanoi on October 6, Anh said the move aims to better the promotion of products on cross-border e-commerce platforms for Vietnamese exporters, especially small- and medium-sized enterprises.

At the conference (Photo: VGP)

According to the iDEA, the world's global e-commerce market is forecast to record strong growths, with an expected revenue of over 7.38 trillion USD by 2025.

Last year, Vietnam's e-retail e-commerce revenue rose by 16%, reaching 13.7 billion USD. The country’s B2C retail e-commerce revenue was estimated to account for 6.5% of the total retail sales of consumer goods and services nationwide.

Vietnam’s e-commerce is predicted to averagely surge 25% per year in the 2022-2025 period, hitting 35 billion USD in 2025 and marking up 10% of the total revenue from retail sales of goods and services nationwide.

According to Amazon Global Selling, B2C e-commerce exports in Vietnam are expected to reach an estimated 75.4 trillion VND (3.15 billion USD) in 2022, and 256.1 trillion VND in the next five years.

Mac Quoc Anh, Vice Chairman of the Hanoi Association of Small and Medium Enterprises (Hanoisme), said cross-border e-commerce not only creates opportunities for businesses to increase sales, but also helps them develop flexible business models, reduce costs, and optimize resources to access global supply chains.

Participants said businesses need to be fully equipped with skills in international trade and e-commerce skill in order to meet the needs of the market, and avoid risks in transaction and payment. They also pointed out difficulties facing Vietnamese businesses in registering to become a partner of international e-commerce platforms, saying that products offered on e-commerce platforms must meet strict requirements on origin and quality, and food safety and hygiene.

Source: VNA