SMEs’ online trading activities to see strong development
The Vietnam e-business index report showed that 32 per cent of Vietnam's SMEs have established businesses with foreign partners through online channels.
Joining B2B (Business to Business) e-commerce platforms will help export enterprises directly approach customers, thereby expanding opportunities to access the global market and reducing costs relating to traditional trade promotion such as fairs and exhibitions, and open offices in target markets. Meanwhile, businesses could deal with customers through online channels or e-commerce websites.
According to a representative from the E-commerce Development Centre under the Ministry of Industry and Trade (MoIT)'s Vietnam E-commerce and Information Technology Agency (Vecita), Vietnamese enterprises have used online trading floors to find foreign partners and customers.
In fact, for traditional trading channels, besides cumbersome procedures, many businesses see huge expenditure when finding foreign partners or implementing trade promotion programmes.
Therefore, the online import and export channel is a great opportunity to reduce costs and time for businesses, especially SMEs looking for business partners, doing trade promotion, marketing products and implementing transactions and payments, according to the representative.
However, according to experts, the local enterprises, especially SMEs in Vietnam, still had difficulty accessing online trading activities because about 66 per cent of SMEs are of a tiny scale.
Nguyen Ngoc Dung, vice chairman of the Vietnam E-commerce Association, said the enterprises still had limitations in information and knowledge about e-commerce, especially cross-border e-commerce, leading to difficulties and inefficiencies in joining online export activities.
Sharing reasons on not really popularising the online export-import channel, Dung said that enterprises did not have enough skills to confidently sell their products online. The association had worked with many providers and consulting companies to support businesses in accessing websites to export products.
The association hoped businesses would have more experience in online trading activities to gain new customers, Dung said.
To support businesses applying e-commerce for import-export activities, the Vietnam Export Support Alliance had been established to seek support service packages to find customers and improve competitiveness in some neighbouring markets for local businesses, reported phapluatxahoi.vn.
Dung said cross-border e-commerce was becoming an important channel for businesses in export, he said that Vecom would strengthen promotion and training activities to make products from traditional craft villages available online.
In 2019, the MoIT plans to organise programmes to support businesses to enhance export capacity in online retailing and provide them with information on export opportunities.
Besides, the ministry will guide enterprises to improve their products’ designs and complete administrative procedures for export.
According to the ministry’s Vietnam E-commerce and Digital Economy Agency, Vietnam’s e-commerce has had strong growth with the highest rate of 30 per cent in 2018 rising to US$7.8 billion revenue from $4 billion in 2015.
If the growth rate of 2019 and 2020 continues to be at 30 per cent each year, the revenue by 2020 will reach $13 billion.
Related News
It is necessary to build a national database on cross-border trade and transport
15:23 | 29/03/2024 Regulations
Accelerate development of Stock market in 2024
00:00 | 02/03/2024 Finance
Positive economic outlook in 2024
10:15 | 07/03/2024 Headlines
Combating tax loss in e-commerce transactions
10:53 | 05/03/2024 Finance
Latest News
Domestic retailers eye export-quality products
17:37 | 18/04/2024 Import-Export
Textile and garment exports recovered positively
10:26 | 18/04/2024 Import-Export
Launch of FDI Annual Report 2023
16:25 | 17/04/2024 Import-Export
Vietnam has opportunities to attract, develop the offshoring market
16:11 | 17/04/2024 Import-Export
More News
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors
16:09 | 17/04/2024 Import-Export
Be proactive and flexible with production materials
09:02 | 17/04/2024 Import-Export
Cooperate to build leading and "rich in vitality" state-owned enterprises
08:59 | 17/04/2024 Import-Export
Garment & textile sector tries to keep growth momentum
14:16 | 16/04/2024 Import-Export
Businesses capitalize on recovery momentum to explore market expansion
10:01 | 16/04/2024 Import-Export
Access to the Chinese market is increasingly convenient
15:12 | 15/04/2024 Import-Export
China, US, Japan – largest importers of Vietnam’s fishery products in Q1
15:04 | 15/04/2024 Import-Export
Vietnam’s agricultural products appeal to foreign customers
15:03 | 15/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Your care
Domestic retailers eye export-quality products
17:37 | 18/04/2024 Import-Export
Textile and garment exports recovered positively
10:26 | 18/04/2024 Import-Export
Launch of FDI Annual Report 2023
16:25 | 17/04/2024 Import-Export
Vietnam has opportunities to attract, develop the offshoring market
16:11 | 17/04/2024 Import-Export
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors
16:09 | 17/04/2024 Import-Export