Vietnam’s e-commerce thrives on Amazon

(VOVWORLD) -The number of Vietnamese businesses recording sales of 1 million USD annually on Amazon is now 10 times higher compared to five years previously, according to a conference on cross-border e-commerce (CBEC) in Hanoi on Wednesday.

Vietnam’s e-commerce thrives on Amazon  - ảnh 1A panel session with representatives of craft associations, industries, businesses and experts in cross-border e-commerce. Photo: VOV

The Ministry of Industry and Trade said that from 2019 to 2023, Vietnamese businesses strongly expanded their international business with the number of products sold on the Amazon e-commerce platform increasing threefold.

Vietnamese e-commerce is going through a period of strong growth and has become an important component of the digital economy in Vietnam, the Ministry said. Retail e-commerce sales have grown at an average rate of about 20% over the past 10 years, putting Vietnam among the countries with the fastest e-commerce growth in the region and the world.

Nguyen Van Thanh, Director of the E-commerce Development Center at the Ministry of Industry and Trade, said e-commerce is an effective solution to help Vietnamese businesses penetrate or expand their export markets.

“Vietnamese e-commerce and cross-border e-commerce in particular, especially e-commerce through the Amazon platform, is in line with global trends. We need to boost participation into the Amazon platform to have more customers importing products from Vietnam. Cross-border e-commerce can help direct manufacturers and small manufacturers participate in exporting,” Thanh said. 

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