E-commerce business helps boost domestic market, export: Experts

Illustrative photo. (Source: VNA)

Speaking at a seminar in Hanoi on November 17 on market development for e-commerce firms in the digital transformation era, Tan said that digital transformation will help Vietnamese businesses, especially small and medium-sized enterprises seek a more flexible business model, saving cost and optimise resources to overcome difficulties.

Over the years, Vietnam has continuously recorded strong growth in the ratio of Internet users as well as the number of online shoppers, he said, noting that the value of online shopping through e-commerce platforms has risen sharply in the past five years. The figure increased from 5 billion USD in 2016 to over 10 billion USD in 2019 and 11.8 billion USD in 2020.

Notably, from the beginning of the pandemic to mid-2021, Vietnam had seen additional 8 million digital technology consumers, 55 percent of whom were not from big cities. Furthermore, 99 percent of Vietnamese digital technology consumers said that they will continue to use online services in the future, showing the close ties between Vietnamese consumers and digital services and products.

At the event, many experts said that Vietnam remains an attractive innovation centre when the global capital resources have continued to flow to the country. The value of trade and investment deals surged to a record 1.37 billion USD in the first half of 2021. They held that e-commerce market has become a popular business model of businesses, which has a strong spreading capacity in the community. Particularly, amid COVID-19 pandemic, e-commerce has enabled businesses to make transactions with customers in a safe manner.

They agreed that in the time to come, e-commerce will be a new shopping trend with impressive growth speed. This is a good chance for production businesses to serve their customers at anytime and anywhere, bringing better experience to consumers, they added./.

VNA