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Approximately 10 million Made-in-Vietnam products were sold globally through Amazon between September 1, 2021, and August 31, 2022, heard the Cross-border E-commerce Conference (Amazon Week 2022) in Hanoi on October 27.
Amazon Week 2022 is to strengthen linkages that exist between small and medium-sized businesses across the country with the international market, while fully tapping into the potential that exists for Vietnamese cross-border e-commerce in the new era.
Specifically, the compound annual growth rate of global e-commerce is projected to reach 28.4% per year in the 2020 - 2027 period, while export revenue from B2C e-commerce in the country is also expected to increase by more than 20% annually.
He pointed out that the number of Vietnamese sellers on Amazon still increased by more than 80% against the same period from last year, while the number of Vietnamese businesses using Amazon’s Fulfillment Service (FBA) rose by over 90%. In addition, sales through FBA also inched up more than 50% on-year.
Seong noted that with available advantages such as national policies which support exports, abundant production capacity, and the rapid development of e-commerce, Vietnam is at a golden stage as it seeks to boost exports via online platforms.
Amazon Global Selling will continue its efforts and commitments to provide strong and flexible support for local firms to take full advantage of Amazon's global resources, providing a fresh impetus for the country’s economic development in the new era, he emphasised
Lai Viet Anh, deputy director of the Vietnam E-commerce and Digital Economy Agency, revealed that the agency has worked alongside Amazon Global Selling on the “Cross-border E-commerce: Breakthrough Era” initiative to support the manpower development for enterprises seeking to unlock export opportunities through e-commerce platforms over the next five years.
The agency will strive to promote co-operation with Amazon to pave the way for deeper involvement of Vietnamese products in the global playing field, she noted.
Truong Ly Hoang Phi, chairwoman of the Board and CEO of Investment Promotion & Business Support JSC (IBP), highlighted small and medium enterprises (SMEs)’s capabilities in adapting quickly to rapid market changes. As a result, Amazon Week 2022 will create opportunities that contribute to strengthening competitiveness for domestic businesses as they seek to access the global market through Business-to-consumer (B2C) e-commerce.
The one-week event is expected to be held in Hanoi and Ho Chi Minh City via both direct and online platforms.
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