Vietnam's e-commerce market to reach $43 billion by 2025

It is understood that one of the focuses of this target program is to rate Vietnam's e-commerce websites to increase customer trust in purchasing and payment activities in the online environment.

Previously, a 2019 e-commerce report on Southeast Asian countries released by Google , Temasek and Bain & Company predicted that Vietnam’s e-commerce market will have an average growth rate of 29% from 2015 to 2025 .

Vietnam's e-commerce is expected to reach US$43 billion by 2025, ranking third among Southeast Asian countries .

Vietnam's Ministry of Industry and Trade said the country's overall e-commerce development plan aims to support and promote the widespread use of e-commerce in businesses and communities; narrow the gap in e-commerce development between large cities and local areas, and build a healthy , competitive and sustainable market.

The plan also aims to expand the consumer market for Vietnamese goods within and outside Vietnam through e-commerce . It will also promote cross-border e-commerce transactions and help Vietnam become one of the three leading e-commerce markets in Southeast Asia.

These goals are why the Ministry of Commerce asked iDEA to study and propose key solutions to achieve the goals, thereby strengthening the protection of consumers' legitimate rights and interests in the e-commerce environment.

iDEA will continue to improve the legal framework , develop plans , policies and solutions to encourage ratings of e-commerce websites and rating platforms.

MoIT said iDEA plans to develop an e-commerce ecosystem amid the COVID-19 pandemic and the booming online shopping market .

In the next five years, in addition to formulating policies, the E-Commerce Trust Platform will also become a tool for evaluating e-commerce businesses , and the rating will be provided to consumers as a reference.

In addition, other goals of Vietnam's e-commerce market from 2021 to 2025 include establishing a guaranteed payment system , resolving online disputes, applying electronic vouchers in commerce , and applying standard delivery services in e-commerce.

The Ministry of Industry and Trade will also deploy a series of activities to develop e-commerce and support well-known Vietnamese manufacturers , while iDEA will launch the GoOnline program in 2021 to help companies enter the e-commerce environment.

Cross-border e-commerce market

Southeast Asia