On May 15, 2020, the
Prime Minister issued Decision No. 645/QD-TTg approving the National Master
Plan on e-commerce development in the 2021-2025 period aiming to develop e-commerce
business area through changing in policy, creating favourable environment,
increasing government spending, and attracting investors participating
and setting up business in developing
e-commerce in Vietnam to transform the economy toward industry
4.0.
Specifically, the
Vietnam Prime Ministers set the following goals to be achieved by 2025: 55% of
the population participate in online shopping, the average purchase value is
600 USD/person/year; e-commerce revenue increases by 25%/year, reaching 35
billion USD, accounting for 10% of the total retail sales of goods and revenue
of consumer services nationwide; non-cash payment in e-commerce reached 50%, of
which payments made through intermediary payment service providers accounted
for 80%; the average cost for delivery and final order completion accounts for
10% of the product cost in e-commerce; 70% of purchases on e-commerce
applications have e-invoices.
Regarding e-commerce
applications in enterprises: 80% of e-commerce websites have integrated online
ordering function; 50% of small and medium enterprises conduct business
activities on e-commerce trading floor, including social network with function
of e-commerce trading floor; 40% of businesses participate in e-commerce
activities on mobile applications; 70% of electricity, water,
telecommunications and communication service providers deploy electronic contracts
with consumers.
To accomplish the above
objectives, the Prime Minister proposed specific groups of solutions,
including: perfecting mechanisms and policies to meet the needs of e-commerce
development in the context of technology revolution 4.0; improving the
management and organization of e-commerce activities, online dispute resolution (ODR),
fighting against commercial frauds, intellectual property violations.
The Prime Minister’s
policy shows the role of e-commerce in the present era. E-commerce is one of
the pioneering areas of the digital economy, where the advanced technologies of
the Industrial Revolution 4.0 are widely applied to increase the efficiency of the
business cycle, contribute to modernizing the distribution system, improve the
competitiveness of enterprises, promote the development of the domestic market
and export. Besides, identifying the overall goal when developing e-commerce in Vietnam is
support and promote the widespread use of e-commerce in businesses and the
community; to bridge the gap between major cities and localities on the level
of e-commerce development; to build a healthy, competitive and sustainable
e-commerce market; to expand consumption markets for Vietnamese goods at home
and abroad through e-commerce applications; to promote cross-border e-commerce
and transactions; to become a country with a developed e-commerce market among
the top 3 countries in Southeast Asia.
This is an opportunity
for domestic and foreign investors in the field of e-commerce as well as an
auxiliary service for e-commerce to promote business and investment activities
in Vietnam through establishment of companies providing services.
