Vietnam’s e-commerce forecast to boom

Vietnam's e-commerce market is predicted to boom in the near future, given that more than 50 percent of the population uses the internet and smartphones.

The Ministry of Industry and Trade reported that 70 percent of Vietnam's purchases via social media were made on Facebook this year. E-commerce in Vietnam is forecast to hit 10 billion USD by 2020, giving Vietnam a great chance to develop the digital economy. The UN E-Government Survey 2018 pointed out that Vietnam has jumped to the 88th out of 193 countries and territories in the e-government development index. Analysts have forecast that around 30 percent of Vietnam's population will shop online by 2020, spending an average 350 USD per person annually.

Source: VOV5