Vietnamese exporters have not used websites effectively for their operations, while small and medium-sized enterprises (SMEs) have made full use of e-commerce.
A production line for Casumina motorcycle tyres in Dong Nai province (Photo: VNA)
Vietnamese exporters have not used websites effectively for their operations, while small and medium-sized enterprises (SMEs) have made full use of e-commerce.
The results of a study on the Internet, e-commerce and SMEs activities in Vietnam, released in Hanoi on October 29, showed that the Internet has not ensured higher value for all sectors, while the number of computers have considerably contributed to SMEs' operations.
The study conducted by the Central Institute for Economic Management (CIEM), the Institute of Regional Sustainable Development (IRSD) and Vietnam E-commerce Association (VECOM), and sponsored by tech giant Google, also said the Internet has helped to increase turnover and profits rapidly with the application of technology, especially in SMEs.
In addition, the Internet has also sharply reduced transaction costs and has created a level playing field for businesses.
Tran Kim Chung, CIEM Deputy Director, said he was not surprised with the results as in reality, the Internet and IT played a vital role for businesses.
"Enterprises should take advantage of the Internet to develop, while modernising the economy," Chung said.
Alex Long, country lead, government affairs and public policy, Google Asia Pacific, said the Internet could contribute great value to an economy. Vietnamese businesses could utilise the Internet to cut costs, expand their markets and improve labour productivity.
He said Google wanted to co-operate with Vietnam in helping its businesses to fully utilise the potential of the Internet.
Statistics from the industry and trade ministry's Vietnam E-commerce and Information Technology Agency (Vecita) have revealed that with up to 40 percent of its people using the Internet, Vietnam is one of the fastest growing economies in terms of Internet users.
The country's e-commerce has been growing and providing potential as well as development opportunities to SMEs.
The e-commerce turnover reached 2.2 billion USD in 2013, and is expected to touch 4 billion USD this year.
SMEs can expand their promotion, access international markets and reduce intermediate segments.
However, SMEs have also faced difficulties, especially tax issues. Businesses have had to pay about 20 percent of their turnover for e-commerce services, excluding online advertisements.
The issue of brand protection has also been a headache for enterprises as a large number of copyright violations are occurring in the country.
The study suggested that the Government should provide a more favourable legal environment to the markets' development, both in Internet services and safe e-commerce transactions.-VNA
It has become mandatory since January 20 for e-commerce or social network sellers to register their transactions in order to facilitate tax collection.
One-third of the Vietnamese consumers (34 percent) love shopping at hypermarkets, supermarkets, and other modern channels, according to the latest Future of Grocery Report prepared by Nielsen.
Vietnamese retailers should pay heed to mobile e-commerce to improve product access for consumers and promote market competitiveness, an official of the Ministry of Industry and Trade said.
After five years of implementation of the General Plan to Develop Electronic Commerce 2011-15, e-commerce has contributed greatly to the country's socio-economic growth.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
A production line for Casumina motorcycle tyres in Dong Nai province (Photo: VNA)
