The growing demand for products ordered via e-commerce globally, coupled with regional developments in ASEAN such as the Regional Comprehensive Economic Partnership (RCEP) create a lucrative export opportunity for ASEAN members.[1] Vietnam, in particular, is prepared to seize this opportunity owing to its export-oriented economy and its stronghold in consumer electronics exports.[2]
To unlock the e-commerce export opportunity that lies ahead, Vietnam must confront the multifaceted obstacles impeding MSMEs. These include talent shortages, regulatory complexities when exporting, high cross-border logistics costs, and a range of knowledge gaps such as a lack of understanding of foreign markets and e-commerce business models. Strategic interventions by the government, e-commerce channels, and industry bodies will be key to addressing these challenges. Crucially, fostering collaboration among these stakeholders is crucial to establishing a far-reaching and enduring impact on MSMEs in Vietnam, propelling growth within the e-commerce landscape.
Despite the increasing importance of e-commerce in Vietnam, significant knowledge gaps remain regarding related export opportunities. While e-commerce transactions within the country have been studied, there is limited research on the value and trajectory of e-commerce exports. This report seeks to bridge this gap by estimating Vietnam’s e-commerce export market size in 2023 and providing forecasts for 2028. It also analyses insights from Vietnamese MSMEs about their present and future e-commerce engagement. Lastly, the report analyses the policy landscape in Vietnam, offering policy recommendations and providing international exemplars for policies that can help bolster the country’s e-commerce industry.
With a keen focus on addressing existing barriers, and leveraging its privileged position in manufacturing in the region, Vietnam has the potential to emerge as a leader in e-commerce globally.
