The Vietnam e-Commerce and Digital Economy Agency under the Ministry of Industry and Trade and Amazon Global Selling Vietnam on June 8 launched a cross-border e-commerce initiative in the breakthrough era.
Finance Minister Ho Duc Phoc said that the financial sector has been tightening revenue collection of e-commerce sales. The tax sector has so far collected about VND5,000 billion (US$ 219,385,102) from businesses on the internet.
Vietnam has emerged as a popular destination for industrial property projects as increased labour costs, trade disputes and COVID-19 prompt global manufacturers to vary their supply chains throughout Asia, according to CBRE.
The Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade and Amazon Global Selling introduced details of their plan on May 5 to support small-and medium-sized enterprises (SME) in Vietnam to expand their business globally and build their international trademarks.
E-commerce revenue topped VND53,870 billion (US$2.37 billion) in Ho Chi Minh City last year, increasing about 20 percent over 2016 and accounting for 5.9 percent of the total retail sales of goods and services.
The digital economy and e-commerce are opening up opportunities for micro-, small- and medium-sized enterprises (MSMEs) to connect to global value chains, allowing access to regional and global markets, experts said at a workshop held on Tuesday in HCM City.