Vietnam's e-commerce scale to exceed 20.5 billion USD in 2023

Within the framework of the National E-commerce Week Program and the 10th Vietnam Online Shopping Day - Online Friday, this morning, December 1, the Department of E-commerce and Digital Economy ( Ministry of Industry and Trade ) organized the Vietnam E-commerce Development Conference with the theme: Sustainable E-commerce Development. Speaking at the Conference, Deputy Minister of Industry and Trade Do Thang Hai said that e-commerce, from a concept that was still quite unfamiliar to consumers, now Vietnam's e-commerce has continuously recorded outstanding growth at 16-30%/year and the market size is expected to reach 20.5 billion USD in 2023. In his speech, he said that from the early days of the Vietnamese e-commerce market with simple interfaces, product, service and store displays, it has now continuously recorded outstanding growth, becoming an important component of the digital economy in Vietnam. Besides positive results, e-commerce also faces many difficulties and challenges such as: Ensuring the origin of goods; ensuring safety and security of personal information; logistics infrastructure has not yet met the growth rate of the market; consumer confidence in transactions...

Deputy Minister of Industry and Trade Do Thang Hai spoke at the Conference.

Over the past 10 years, the Ministry of Industry and Trade has always accompanied to solve difficulties and challenges in awareness, trust, supporting technology infrastructure, ... thereby promoting the rapid and strong development of the Vietnamese e-commerce market. Referring to solutions for sustainable development of e-commerce in our country, Director of the Department of E-commerce and Digital Economy Le Hoang Oanh added that sustainable development for any field must include all factors such as: Stable and positive growth; ensuring balance and harmony of interests of related parties; meeting the trend of green development, environmental protection; human resources and especially protecting consumers, building trust from consumers.

Ms. Le Hoang Oanh - Director of the Department of E-commerce and Digital Economy mentioned 5 factors promoting sustainable development of e-commerce.

Also at the conference, representatives of the National Competition Commission informed about the policy of protecting consumer rights in the online environment. Difficulties and challenges in the field of e-commerce from the perspective of local management agencies, banks, payment organizations, e-commerce platforms, delivery businesses, etc. were also clarified. Many opinions at the conference also said that to promote the e-commerce market, the important factor is to build trust. For consumers, they need to have faith in the quality of goods, believe that their rights are protected when participating in shopping in the e-commerce market. In the past 10 years, although the Vietnamese e-commerce market has grown very rapidly in quantity, the biggest reasons that consumers still consider obstacles when buying online are "poor quality compared to advertising", "not trusting the seller", "difficulty in verifying the quality of goods".

Signing ceremony of cooperation, participation in digital ecosystem, protection of consumer rights and subjects participating in e-commerce transactions.

Therefore, in addition to regular inspection, examination and supervision, opinions say that to change this situation, we need to continue: Perfecting competition law in the e-commerce environment; perfecting legal regulations on consumer rights protection; regularly inspecting, examining and supervising to promptly detect and handle violations; building rules and standards for doing business in the online environment. Within the framework of the conference, cooperation agreements were signed, participation in the digital ecosystem, and consumer rights protection between management agencies, e-commerce platforms, payment intermediaries and banks.