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VietNamNews

Firms should invest in e-commerce

Update: April, 11/2015 - 09:02
A screenshot of an e-commerce website. With e-commerce becoming more popular, firms are being urged to exploit their online presence and expand export markets. — VNS File Photo

HA NOI (VNS)— Vietnamese companies should seek to expand exports through e-commerce, which is becoming an effective channel for approaching importers.

Experts said that import demand from developed countries was huge and these were markets where e-commerce was dominant, adding that e-commerce could help also save costs and result in greater efficiency for exporters, compared with the traditional trade transaction channels.

However, the gap in the application of e-commerce remains considerable between developed and developing countries, experts said, urging Vietnamese firms, especially small and medium-sized companies, to grasp the chance of exploiting e-commerce to expand markets as e-commerce was growing rapidly.

According to Tran Dinh Toan, deputy director of OCB Technology and Investment Company, e-commerce is an effective tool for export firms to explore new markets and expand into them.

Toan pointed out that many export firms in Viet Nam had approached importers and signed contracts through the website Alibaba.com.

Dang Quang Vu, a representative from Hapro, which now exports products to more than 70 countries with an estimated total export turnover of VND9 trillion (US$422.5 million), said e-commerce had been an effective channel for Hapro to expand into more export markets.

Products of the Nhan Minh Company were now placed on shelves of retail channels of more than 10 countries thanks to e-commerce, the company's representative said.

Goretti Lee, marketing manager of Alibaba.com was quoted by Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times) as saying that many importers were showing an interest in Viet Nam, which was evident in the growing number of inquiries via the website. She said the application of e-commerce would help Vietnamese firms to seek more trade partners.

Currently, the potential of applying e-commerce for boosting exports had not been fully exploited by Vietnamese firms due to a lack of knowledge and human resources, experts said, adding that it was necessary for firms to invest in e-commerce. — VNS


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