Exporting via e-commerce: Hesitation leads to missed opportunities

An enterprise is introducing their products with export potential via e-commerce to delegates and guests.

Le Hoang Oanh, Director of the Department of E-commerce and Digital Economy (MoIT), shared her opinion at the forum “Cross-border e-commerce: Export opportunities for Vietnamese products” on November 26.

Commenting on the development trend of e-commerce, Oanh stated that e-commerce was becoming an inevitable global trend. In Vietnam, e-commerce is also playing an increasingly significant role in the economy.

Vietnam's e-commerce growth currently ranks among the top globally and regionally.

In 2023, Vietnam's e-commerce market reached US$20.5 billion, placing it among the top three in Southeast Asia. By 2025, the market size is projected to grow to US$45 billion.

According to the Director of the Department of E-commerce and Digital Economy, these statistics highlighted the dynamism of Vietnam's e-commerce market while also reflecting the readiness of Vietnamese e-commerce businesses.

According to the MoIT, cross-border e-commerce is a crucial lever for online exports. A survey by the MoIT showed that in 2023, 53% of surveyed businesses exported through e-commerce platforms, while 47% used websites or similar applications.

Notably, 60% of enterprises reported that cross-border e-commerce accounted for 10-30% of their total import-export value.

A report by Amazon Global Selling Vietnam revealed that over 17 million Vietnamese products were exported in 2023, with a 50% increase in value and a 40% rise in the number of sellers. Cross-border e-commerce overall grew by 26% compared to the previous year.

“These figures clearly demonstrate the immense potential and continuous efforts of Vietnamese businesses to leverage digital platforms for international market expansion,” said Oanh.

In the current context of deep integration, cross-border e-commerce has become a vital export channel, expanding the consumer market for Vietnamese goods.

According to experts, the outstanding advantages of cross-border e-commerce include helping businesses expand export markets and increase sales by delivering products to markets and consumers more quickly.

Additionally, the ability to quickly capture and respond to market demands through online chats, product reviews, and customer feedback allows businesses to meet market requirements more efficiently.

Furthermore, businesses have the opportunity to broaden their markets, reduce dependency on specific markets in terms of size and seasonality, and build as well as enhance brand recognition in international markets.

However, small, medium, and micro enterprises (SMMEs) in Vietnam are currently facing numerous difficulties and challenges in accessing and implementing cross-border e-commerce. These include limitations in digital knowledge and skills, low competitiveness, lack of market information, and issues related to legal barriers, tariffs, logistics, and payment systems.

Additionally, fluctuations in international markets, trade tensions, and increasingly stringent quality standards demand significant effort from the business community, particularly from SMMEs.

Oanh also recommended that businesses aiming to export Vietnamese goods should participate in reputable e-commerce platforms for support, which can reduce investment costs. Simultaneously, businesses should invest in product branding, find local partners to support logistics and customer service, understand consumer preferences, thoroughly study the regulations of the target countries, and take advantage of support programs provided by the MoIT.

Yap Kwong Weng, CEO of Vietnam SuperPort, highlighted that Vietnam’s trade activities were expected to grow significantly in the coming years, driven by the free trade agreements (FTAs), foreign direct investment (FDI), and public investments, providing a positive outlook for cross-border e-commerce.

Notably, China, the US and South Korea are Vietnam's leading trading partners, playing an important role in expanding digital trade activities.

Liu Liang, Chairman of the Yunnan E-commerce Association (China), emphasized Vietnam’s advantageous geographic proximity to Yunnan, which offers excellent logistics potential, especially for rail and road transport.

Regarding the development direction of Vietnam's e-commerce, the Chairman of the Yunnan E-Commerce Association emphasized that the core of cross-border e-commerce lies in logistics, as slow transportation cannot meet demand.

Therefore, Vietnamese businesses need to prioritize logistics and customs declaration, invest in workforce training, quickly reach customers, and deeply understand their needs.