The size of Vietnam’s online business market grew by over 30 percent to about 7.8 billion USD in 2018, compared to only 4 billion USD in 2015, according to an official of the Ministry of Industry and Trade.
A press conference held on March 12 to introduce the Vietnam Online Business Forum 2019 (Photo: VNA)
Hanoi (VNA) – The size of Vietnam’s online businessmarket grew by over 30 percent to about 7.8 billion USD in 2018, compared toonly 4 billion USD in 2015, according to an official of the Ministry ofIndustry and Trade.
If the growth rate is sustained at 30 percent in2019 and 2020, the market size will hit 13 billion USD next year – higher thanthe target of 10 billion USD in 2020 set in the master plan for e-commercedevelopment, said Nguyen Ky Minh – Director of the e-commerce developmentcentre (EcomViet) under the ministry’s E-Commerce and Digital Economy Agency(iDEA).
However, a favourable environment and ecosystemare necessary for the development of e-commerce, he said, noting the importanceof advanced telecom and IT infrastructure to facilitate people’s internetaccess via mobile devices and boost their trust in online transactions.
Minh also underlined the need to developlogistics services and improve online firms’ access to public services andcapital sources.
At a press conference in Hanoi on March 12, theiDEA and the Vietnam E-commerce Association (VECOM) announced that the VietnamOnline Business Forum 2019 will take place in central Da Nang city on March 15,in Hanoi on March 26, and in Ho Chi Minh City on March 28.
Chief of VECOM’s Office Tran Van Trong said theforum will focus on trends in the e-commerce market; e-commerce supportsolutions in an era that consumers want to receive products they shop online injust some hours; the impacts of technology, especially artificial intelligence,on businesses; and decisive factors for online startups.
Experts will also discuss other hot issuesdirectly affecting many companies like competition, the legal corridor, and theFourth Industrial Revolution. Additionally, young startups can learnexperiences relevant to e-commerce shared at the forum.
The Vietnam E-commerce Index 2019 will also bereleased at the forum, Trong added.-VNA
E-commerce has rocketed in Vietnam over the past five years, with online retail sales expanding 20 percent annually, according to the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade.
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A press conference held on March 12 to introduce the Vietnam Online Business Forum 2019 (Photo: VNA) 
