Amazon to enter Vietnam

The world’s leading e-commerce player, Amazon, is planning to enter the Vietnamese market, announced the Việt Nam E-commerce Association (VECOM).

Amazon will also support Vietnamese enterprises in exporting online through the platform, VECOM chairman Nguyễn Thanh Hưng said.

Accordingly, Amazon will kick off a co-operation programme to support Vietnamese small- and medium-sized enterprises to sell and export goods through its ecosystem at the Việt Nam Online Business Forum 2018, which will be held on March 14.

According to an evaluation of VECOM and prestigious research companies in the world, the growth of Vietnamese e-commerce is at a high rate. VECOM estimates the growth rate of 22 per cent per year.

The Vietnamese e-commerce scale is predicted to reach US$10 billion in the next five years, making Việt Nam a lucrative market to many e-commerce enterprises in the world.

Before Amazon, Lazada entered Việt Nam and dominated some one third of the country’s online shopping market. Later, Alibaba paid $1 billion to buy stakes at Lazada to enter the Southeast Asian market, including Vietnam.