Vietnam to become second largest digital economy in Southeast Asia in 2025: experts

<p style="text-align: justify;">Vietnam can become the second largest digital economy in Southeast Asia in 2025, while the country’s e-commerce market will draw more large-scale businesses, forecast experts at an online seminar in Ho Chi Minh City on April 20.</p> <p style="text-align: justify;">They also said that online businesses will involve more economic sectors and more big players in the time to come.</p> <p style="text-align: justify;">Do Huu Hung, General Director of AccessTrade, held that e-commerce should be the first step, followed by logistics and delivery services to win stronger confidence among consumers and improve their shopping experience.</p> <p style="text-align: justify;">Hung said that with better logistics and delivery services, the digital economy can make up 50-60 percent of the Vietnamese economy in the future.</p> <p style="text-align: justify;">The years of 2020 and 2021 can be described as a special period with unprecedented changes under impacts of COVID-19, where online business in Vietnam enjoyed a breakthrough growth in both domestic and foreign markets.</p> <p style="text-align: justify;">According to the “E-Commerce White Book 2020”, the global revenue from B2C e-commerce activities is likely to rise by 1.5 times in the 2019-2023 period from 1.94 trillion USD to over 2.88 trillion USD. The book also predicted that Southeast Asia, including Vietnam, will see high growth.</p> <p style="text-align: justify;">Phan Binh, Director of J&T Express Vietnam, said that businesses do not need giant shops but high quality products which will be delivered to customers through suitable services.</p> <p style="text-align: justify;">Currently, many foreign firms have sought business opportunities in the potential market of Vietnam with the motto of "Think Global, Act Local". Meanwhile, online business activities have drawn a large number of companies, cooperatives, business households and individuals in both rural and urban areas.</p> <p style="text-align: justify;">Experts advised enterprises operating online business to seek seek supports in consultations and solutions to develop one-stop-shop model.</p> <p style="text-align: justify;">They also underlined the need for wider coverage of delivery services to meet the demand of the booming e-commerce sector.</p> <p style="text-align: right;">Source: <a href="https://en.nhandan.vn/business/item/11417502-vietnam-to-become-second-largest-digital-economy-in-southeast-asia-in-2025-experts.html" target="_blank">Nhan Dan Online</a></p>