Online exporting represents golden opportunity for business development
|
With global consumer habits changing, the global selling ability is increasing whilst online exports have moved passed the stage of being a trend and are now firmly a reality.
According to Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry, previous import and export activities were generally only for large-scale businesses that had huge economic and financial potential. They largely became giants of their sectors thanks to import and export activities, allowing them to dominate multiple fields of production and business.
This is in contrast to the current era where cross-border e-commerce and e-commerce in general has undergone huge changes, with small and medium-sized enterprises (SMEs) seizing on this trend to enjoy an equal chance of accessing global trade.
Once a direct interaction between producers and consumers occurs, particularly with consumers who order items that lead to production, this will become a global trend, Loc says, adding that global customers represent both an opportunity and a challenge for local businesses.
Concurring with this point of view, Nguyen Xuan Hung, managing director of Iexport.vn Global Exchange, Fado Vietnam Company, states, “The biggest challenges of Vietnamese business inpiduals, especially SMEs when participating in online buying-selling, and cross-border online buying-selling, are human resources, language barriers, and an understanding of rules in this field.”
Recent years have seen businesses also start to pay greater attention to upgrading their websites with efforts to improve product images and clarify technical specification and standards, therefore providing an easier experience for international customers.
Despite this, exporting a single order is not easy as it also depends on many factors that relate to logistics conditions and payment conditions, which remains a challenge, Hung adds.
Advertisement and trade promotion
The Ministry of Industry and Trade (MoIT), the unit that is tasked with global trade promotion, has organised a range of activities to support entrepreneurs and businesses, especially SMEs, and boost cross-border trade via the internet.
Cao Quoc Hung, Deputy Minister of Industry and Trade, states the MoIT has been carrying out a broad array of measures such as issuing necessary documents and strengthening the dialogue that exists with the business community. This is being done to remove difficulties and problems faced in production and business activities, in particular import and export activities.
"We will expand and develop more online public services while implementing the motto "The Government offers better services to people and businesses". Enterprises also need to stay active in studying new trends, suitable models, and human and material resources in order to become involved in a digital transformation in import and export," Hung says.
This comes after the MoIT launched the Vietnam Export Support Platform at ECVN.com in late July, with features including the Import-Export Business Community, which will help businesses find opportunities to trade online and swiftly overcome difficulties caused by the novel coronavirus epidemic. It is highly anticipated that ECVN will help firms quickly approach and take full advantage of opportunities from new generation trade agreements such as the European Union-Vietnam Free Trade Agreement (EVFTA).
These can be considered methodical and necessary steps that create the best possible conditions for Vietnamese businesses, especially SMEs, to participate in online export and trade, further develop their brands, whilst expanding their operational scale.
Related News
Positive signal for a promising development cycle
10:50 | 23/03/2024 Import-Export
Quang Ninh Customs: Many activities to develop Customs-Business partnership
00:00 | 02/03/2024 Customs
Enterprises accelerate production and business activities after Tet holiday
10:16 | 26/02/2024 Import-Export
Deploy business support programs at the Customs unit with a turnover of "hundreds of billions of dollars"
13:21 | 08/02/2024 Customs
Latest News
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
More News
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export
Singapore is the largest foreign investor in VN in Q1
14:43 | 27/03/2024 Import-Export
Thai Binh boosts investment, trade cooperation with Germany
14:38 | 27/03/2024 Import-Export
Lifting obstacles to develop industrial parks
10:24 | 27/03/2024 Import-Export
Unlock capital flows and create favorable conditions for investors
10:22 | 27/03/2024 Import-Export
More than 300 businesses, manufacturers to attend VGMF 2024
15:55 | 26/03/2024 Import-Export
Connecting with FDI firms helps boost wood exports: insiders
15:52 | 26/03/2024 Import-Export
Doosan Vina exports nearly 2,000 tonnes of modules to US
15:51 | 26/03/2024 Import-Export
Wood processing enterprises strive to increase the proportion of individually designed goods
09:50 | 26/03/2024 Import-Export
Your care
ASEAN, RoK agree on transposition of AKFTA product specific rules
15:00 | 28/03/2024 Import-Export
Opportunities for digital technology businesses to go global
14:58 | 28/03/2024 Import-Export
Vietnam, China eye stronger border trade
14:57 | 28/03/2024 Import-Export
Improve competitiveness and sustainable development of the seafood industry
09:51 | 28/03/2024 Import-Export
Business environment reform needs further promotion: expert
14:47 | 27/03/2024 Import-Export