HCMC – Business-to-consumer sales in the e-commerce sector this year are projected to grow by almost 40% year-on-year to VND650 trillion (US$28.1 billion), according to a report by the Ministry of Industry and Trade (MoIT).
The report, jointly released by the MoIT’s Department of E-commerce and Digital Economy and the Vietnam E-commerce Association (VECOM), put B2C online sales last year at US$20.5 billion.
Rapid internet and smartphone penetration rates in Vietnam, at 70% and 60% respectively, ad the fast-growing middle class, are primary drivers of strong online shopping growth.
The Government has plans to prioritize infrastructure improvement, provide business support for e-commerce adoption, and bolster efforts to enhance consumer confidence in online transactions, as outlined in the national e-commerce development strategy until 2025.
