Positive signs of growth for cross-border e-commerce could enhance Vietnamese brand value.

The Ministry of Finance reported that revenue from e-commerce activities through organisations in Vietnam declared and paid on behalf of contractor tax since 2018 has reached nearly VND5.6 trillion (US$233.3 million).

Viet Nam's e-commerce revenue in 2022 maintained an increase of about 15 per cent compared to last year, according to the Viet Nam E-commerce Association (Vecom).

The e-commerce boom has opened up great opportunities. Not only large corporations but small enterprises and sellers now can sell their products to the world market.

By offering many promotions, food delivery apps can quickly gain market share, but they also end up creating unsustainable growth.

Tax revenues from e-commerce activities have risen over the years, but they are still far behind the industry’s expansion rate, the Ministry of Finance reported.

An e-commerce week will be held from November 28 to December 4 while Vietnam Online Shopping Day - Online Friday 2022 is scheduled to last from December 2-4, according to the Ministry of Industry and Trade (MoIT).

By 2030, Vietnamese goods will be put on shelves of traditional and online distribution chains in all countries which had free trade agreements with Vietnam.

International customers can easily buy many Vietnamese traditional products via e-commerce platforms.

Vietnam’s existing Law on E-transactions has many shortcomings, and several crucial points need to be added for it to contribute to the accelerating digital transformation, experts have said.

Escalating competition in the e-commerce, logistics and fast delivery sectors is causing players to speed up the IPO process.

As one of the emerging economies in Southeast Asia, Vietnam has potential for e-payments.

Vietnam’s e-commerce sector has enjoyed impressive growth in recent years, with the market scale projected to increase to US$49 billion, even $57 billion by Google, by 2025, from only $4 billion in 2015.

Vietnam has about 200,000 content creators on social networks, including 50,000 full-time creators. Many of them earn hundreds of millions of VND each month.

Vietnam’s digital economy is the fastest growing in Southeast Asia, with expected gross merchandise value growth rate of 28 percent, from US$18 billion in 2021 to US$23 billion this year, according to the report of Google, Temasek and Bain & Company.

E-commerce platforms are seeking warehouses to store goods to prepare for the year-end sales season.

For Vietnam, in 2021, revenue from the internet-based economy was $21 billion, estimated to rise to $57 billion by 2025, up about 271%.

Vietnam’s e-commerce market is predicted to record the growth of 28 percent, the highest rate among Southeast Asian nations, and reach US$40 billion by 2027.

Possessing an average growth rate of 20 per cent per year, the e-commerce retail market is now not only a private land of e-commerce platforms but also a common game of tech solutions providers such as fintech.

Vietnamese farmers are now selling more products thanks to e-commerce platforms.