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COVER STORY
N
E-COMMERCE IN VI E T N AM
-COMMERCE IN VI
E-COMMERCE IN VIETNAM
E-COMMERCE IN VI
E
2
021
2015-2020
2021 2 2015-2020015-2020 as of Jan 2021as of Jan 2021
Active
Active
Size of internet E-commerce e-commerce
Size of internet
Size of internet
E-commerce
E-commerce
e-commerce
e
economy
economy share of total retail penetration
hare of total retail
share of total retail
s
conomy
penetration
5.5%
$21 billion
$21 billion 5.5% 78.7%
78.7%
$21 billion
In May 2020, the Prime Minister released Decision No. 645/QD-TTg
In May 2020, the Prime Minister released Decision No. 645/QD-TTg
In May 2020, the Prime Minister released Decision No. 645/QD-TTg
approving the National Master Plan for E-commerce Development
approving the National Master Plan for E-commerce Development
approving the National Master Plan for E-commerce Development
b
b
be
b
b
be the fastest-growing
b
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i V V V V V V V V V V V V Vietnam is expected to b
Vietnam is expected to be the fastest-growing
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in the 2021-2025 Period, with two objectives:
in the 2021-2025 Period, with two objectives:
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e-commerce market in Southeast Asia by 2026, with a a a a ememmmemerc rc rerc reomomc c c o m m erce m a a a k k k k k r rk k r r r rk k r r ke e e e et t t t t t
e e e- e e-commerce market in S
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Sou Southeast Asia by 2026, with
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o ro r g gr g g g g gross merchandise valu
o o o o ro ro r r gr gr g g g g os
gross merchandise value (GMV) reaching $56 billion m e e er r c c h h ha nd d d d d dis s s s s is s s e e e e e e v va a a a a lue (GMV) reaching
ss
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v v va
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th es estimated value in 2021.
y y y y
b b b b b by 2026; t t t t t t 5 i t t s s s s t th e 02
by
by
y y y y y y 2
by 2026; 4.5 times the estimated value in 2021.
b b b b by
20
y y y 2 2 2 2
20
20
2
20
2
02
2
t
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t
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0
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t
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6 4.5 times
0
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02
6 6 6
n
n
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n
55% of the population Business-to-Consumer
Business-to-Consumer
55% of the population
(B2C) e-commerce revenue
are to regularly shop online, (B2C) e-commerce revenue
are to regularly shop online,
(for both online goods and
with an online trading value (for both online goods and
with an online trading value
services) is to increase
services) is to increase
of $f
o of $600 per person services) is to increase
per person
$600 per person600
25% per year and account
per year.
per year. 25% per year and account
10%
of total retail sales
for
Vie
Vi tnam’s e-ccom
et
Vietnam’s e-commerce market value is for 10% of total retail sales
t
and consumable service
and consumable service
fo ecast to reeac $39 billion revenue in the country.
fore
forecast to reach
$39 billion by 2025,
revenue in the country.
rankking it seccond
ranking it second in Southeast Asia,
y after Inddone
only after Indonesia.
only
International e-marketplaces such as Singapore’s
International e-marketplaces such as Singapore’s ANNUAL GMV OF VIETNAM’S INTERNET ECONOMY
International e-marketplaces such as Singapore’s
International e-marketplaces such as Singapore’s
ANNUAL GMV OF VIETNAM’S INTERNET ECONOMY
ANNUAL GMV OF VIETNAM’S INTERNET ECONOMY
ANNUAL GMV OF VIETNAM’S INTERNET ECONOMY
ANNUAL GMV OF VIETNAM’S INTERNET ECONOMY
Shopee and the Alibaba-owned Lazada
S
and the Alibaba-owned
Lazada currently
hopee
hold the leading positions in Vietnam’s e-commerce
hold the leading positions in Vietnam’s e-commerce
market. There has also b been an increasing number
2021
2021
2020
2020
2020
The Gioi Di Dong
2015
2015
$21 billion
sp ces. $21 billion
$16 billion
$16 billion
$3 billion $16 billion
$3 billion
2019
2019
2026
2026
$12 billion
$12 billion (forecast)
(forecast)
$56 billion
$56 billion
$56 billion
10 | VIETNAM ECONOMIC TIMES | JUNE 2022 www.en.vneconomy.vn
