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Update news e-commerce
The E-commerce Index Report shows that Vietnam has over 500,000 small and medium enterprises (SMEs), but only 32 percent of businesses have joined global trade through digital channels.
With an annual growth rate of 30 percent, Vietnam’s e-commerce market is expected to have value of $15 billion by 2020.
As Vietnam strives to forge a digital economy, there is a growing need to protect intellectual property rights.
For the first time since launching in the market, Vsmart has surpassed Apple in retail revenue.
In recent years, craft villages in Ho Chi Minh City have introduced their products on online trading platforms. This has helped the villages trade efficiently and assert their brand value.
The General Department for Market Surveillance has recently set up a working team on e-commerce to deal with the increasing number of trade violations online.
The investment capital poured into Vietnam’s fintechs in 2019 accounted for 36 percent of total capital into Southeast Asia. The figure was zero percent in 2018.
Amid the current coronavirus epidemic, the fast-moving consumer goods and e-commerce sectors have experienced a tumultuous period.
The few e-commerce players which survive the stiff competition in the market are all backed by big foreign firms in the region.
E-commerce and fintechs accounted for four-fifths of the total number of big calls for capital in 2019. The biggest deal was worth $300 million.
If Tiki and Sendo successfully carry out the merger, the Vietnamese e-commerce market will be the playing field for three major players. Two of them, Lazada and Shopee, are foreign invested.
Many local SMEs have seen exports surge after teaming up with global e-commerce platforms.
While many industries have suffered from Covid-19 epidemic, taxi drivers and shippers are earning more money.
An expected co-operation deal between Tiki and Sendo has surprised the merger and acquisition arena in Vietnam, coming hot off the heels of the announced partnership between Vingroup and Masan late last year.
Delivery units operating under the franchise mode have been expanding thanks to the strong development of e-commerce.
Tiki and Sendo may be in talks over a potential merger to break the dominance of Shopee and Lazada and their foreign backers.
The digital sector is expected to contribute 30% to Vietnam's economy by 2030.
Vietnam is the fastest-growing digital economy in the region, largely due to investment inflow which is still on an unprecedented rise, The Business Times has reported.
The logistics sector is forecast to continue growing strongly this year, with expansion in both retail and e-commerce channels.
A lot of events happened in 2019, including merger and acquisitions (M&As). Meanwhile, some e-commerce websites stopped their operation.