Vietnam holds potential in exports from e-commerce
Amazon report shows that Vietnam’s B2C exports are set to grow into the future.
Vietnam’s cross-border retail sales of goods have posted positive results in recent times and are expected to grow strongly into the future, according to the “Local Sellers, Global Consumers: Capturing Vietnam’s E-commerce Export Opportunity” report from Amazon.
The annual value of Business-to-Consumer (B2C) e-commerce in Vietnam is expected to grow by over 20 per cent and reach VND256.1 trillion ($11.1 billion) by 2026 from VND75.4 trillion ($3.3 billion) in 2021, according to the report. If B2C e-commerce was an export category, it would be the fifth-largest in Vietnam. The report also notes that 64 per cent of this value could be earned by micro, small, and medium-sized enterprises (MSMEs).
About 88 per cent of companies surveyed for the report feel that e-commerce is critical for their ability to export. Local MSMEs also anticipate greater sales growth overseas than domestically, at 42 per cent versus 11 per cent.
However, the report also revealed key challenges facing enterprises, including barriers in cost, regulations, information, and capability.
More than 80 per cent of surveyed companies acknowledge they lack information on relevant regulations in foreign countries while 85 per cent believe they lack the ability to compete with other merchants globally. The report is expected to provide insights for authorities, policymakers, and industry players to determine comprehensive recommendations and solutions supporting e-commerce exporters.
