Conference discusses e-commerce toward digital economy

The Party Central Committee's Economic Commission on Wednesday held a conference to promote e-commerce in Vietnam.

Participants said 4 e-commerce trends are expected to grow strongly: mobile users, price competitiveness, social network e-commerce, and cash-on-delivery payment. Le Xuan Thanh, Chief of the Industry Department of the Central Party Economic Commission, said: Vietnam's e-commerce potential is great but to realize it will require consistent policies and measures, particularly applications of Industry 4.0. Today's conference will discuss ways to create optimal conditions for Vietnam's e-commerce to grow.

Hanoi and Ho Chi Minh city account for 70% of Vietnam's e-commerce transactions. Experts say Vietnam needs to do more to boost e-commerce in other provinces. Tran Hai Linh, Director General of the Sen Do Technology Joint Stock Company, said: Many Vietnamese are not familiar with online transactions, some delivery systems are not good enough, and 70% of transactions are in cash. The Vietnamese market has room to grow over the next 5 to 10 years. Young entrepreneurs in e-commerce and related industries are very active and eager to learn. The biggest challenge will be to create a favorable investment environment to attract foreign investment and talents.

Source: VOV5