On November 26, the Department of E-Commerce and Digital Economy organized an E-Commerce Connect and Development Forum for 2024, with the theme “Cross-Border E-Commerce: Export Opportunities for Vietnamese Products.”
In Vietnam, the scale of the e-commerce market has grown rapidly over the past five years. According to Ms. Le Hoang Oanh, Director of the Department of E-Commerce and Digital Economy, 2023 witnessed a proud development in e-commerce in Vietnam.
53% OF ENTERPRISES EXPORT THROUGH E-COMMERCE PLATFORMS
Cross-border e-commerce has grown by 26% compared to the previous year. These figures vividly demonstrate the enormous potential and relentless efforts of Vietnamese enterprises in leveraging digital platforms to expand their international markets.
In the context of deep integration, cross-border e-commerce has become an important channel for exporting goods and expanding the consumption market for Vietnamese products.
A survey by the Department of E-Commerce and Digital Economy shows that 53% of enterprises participate in exports through e-commerce platforms; 47% use self-built websites or applications; 60% of enterprises said that the value of imports and exports through e-commerce accounts for 10-30% of their total imports and exports.
The popular markets for applying e-commerce in export activities are South Korea (45%), Japan (40%), and China (38%). “Enterprises have acknowledged e-commerce as an effective way to boost their import and export activities in the past time,” emphasized Ms. Oanh.
According to a report by Amazon Global Selling Vietnam, more than 17 million products of Vietnamese enterprises have been exported, with a 50% increase in value and a 40% increase in the number of selling partners. The average number of buyers of Vietnamese products has increased by 55%. The number of Vietnamese products on this platform has increased by 24%.
Ms. Oanh acknowledged that cross-border e-commerce has helped enterprises expand their export markets and rapidly increase sales in a short period. Enterprises can quickly capture and respond to market demands, thereby improving products to meet those demands faster.
Especially, cross-border e-commerce helps products break free from the limitations of market scale and seasonality. It also builds and enhances brand recognition in foreign markets, creating a competitive advantage for export enterprises.
DEVELOPING SPECIALIZED LAWS FOR E-COMMERCE
Along with the economic benefits, Ms. Oanh admitted that small and micro-enterprises in Vietnam are facing difficulties and challenges in accessing and implementing cross-border e-commerce.
For example, there are limitations in digital knowledge and skills, low competitiveness, lack of market information, and issues related to legal barriers, tariffs, logistics, and payments.
Protecting consumer rights when purchasing goods, preventing tax evasion and smuggling, and safeguarding domestic enterprises from foreign competition in e-commerce are also challenges for businesses.
Additionally, keeping logistics costs low and delivering on time are significant pressures for small and medium-sized enterprises in Vietnam. There are also challenges in understanding the legal regulations of the target market, language barriers, and the requirement to provide real-time customer service.
Moreover, the dynamics of the international market, trade tensions, and the increasing demands for quality standards require a considerable effort from the business community, especially small and micro-enterprises.
To “decode” these challenges, Ms. Oanh suggested completing the legal framework, including developing specialized laws for e-commerce and a decree on managing imports and exports through e-commerce.
At the same time, strengthening the management of import and export goods through express delivery for cross-border e-commerce and connecting tax declaration for cross-border e-commerce are necessary steps.
In 2024, the Ministry of Industry and Trade must complete the National E-Commerce Development Plan for 2026-2030, focusing on developing and optimizing the logistics and payment systems serving cross-border e-commerce.
Ms. Oanh recommended that enterprises participate in reputable e-commerce platforms to take advantage of their potential without investing heavily in infrastructure, technology, and human resources when enterprises are still facing difficulties.
On the other hand, it is crucial to understand consumer preferences, import regulations, and invest in product branding in the target market.
“The Department of E-Commerce and Digital Economy is studying the development of an online export ecosystem, involving not only training and data connection but also logistics, payment, and banking services,” said Ms. Oanh.
The online export ecosystem, with specific solutions, aims to realize the government’s orientation and join hands to support Vietnamese enterprises in bringing their export-potential products to the international market through e-commerce.
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