Logistics is expected to be a game changer for the Vietnamese e-commerce market in 2018. — Photo vietnamnet.vnViet Nam News HCM CITY — The e-commerce market has taken off in Việt Nam thanks to booming internet usage and smartphone ownership, along with massive investments from key retail players, local media reported. Việt Nam is one of the world’s fastest growing e-commerce countries, according to Lại Việt Anh, deputy director of Việt Nam E-commerce and Information Technology Agency (Vecita) under the Ministry of Industry and Trade. “The country’s e-commerce is growing 35 per cent per year, 2.5 times faster than Japan,” Anh said. The number of Vietnamese businesses capable of taking advantage of the internet and technology has grown 2.1 times faster than those with less use of the internet. Small- and medium-sized enterprises (SMEs) that spend more than 30 per cent of their budget on technological innovation are growing nine times faster than those spending less than 10 per cent of their budget. Việt Nam’s e-commerce retail sales growth in the 2016-20 period is estimated at 20 per cent per year, and the country’s total retail e-commerce sales is expected to reach US$10 billion by 2020, Anh said. However, e-commerce has faced… Read full this story
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