Vietnamese consumers spend an average of 7 hours a day online. 90 per cent of the urban population and 50 per cent of the rural population use smartphones. — Photo doanhnhansaigon.vn E-commerce in Viet Nam is growing, however many individuals and businesses are taking advantage of online platforms to sell poor quality and fake goods, harming customers and causing lost tax revenues. The statement was made by Dam Thanh The, Chief of the Standing Office of National Steering Committee 389, at a conference held in Ha Noi on Thursday. The said authorities had not been able to control fraud on such platforms as there was a lack of regulations over the e-commerce sector. In addition, the legal framework lagged behind the development of technology and sanctions were not strong enough to deter violations. E-commerce boom According to data released by German market research firm Statista, in 2018, Vietnamese’s e-commerce revenue reached nearly US$2.27 billion and was on the list of the six most developed e-commerce countries. Statistics compiled by Nielsen Viet Nam and Miniwatts Marketing Group showed that 85 per cent of the Vietnamese population uses the internet, ranking 13th among the 20 countries with the highest proportion of internet… Read full this story
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