The state of e-commerce in Vietnam

While other industries are continuously going through many different stages, the e-commerce industry still achieves tremendous results even though the local economy has been seriously affected by COVID-19 pandemic. In Vietnam, e-commerce industry is currently considered one of the key factors to promote the fast-growing economy not only in the local country but throughout Southeast Asia.

At the end of 2019, Jack Ma – the founder of Alibaba successfully signed a deal between Alipay and Vietnam national payment corporation – NAPAS. In addition, the local e-commerce business Tiki also received $44 million (US Dollars) in funding from the competitor of Alibaba, which is JD.com. This makes Tiki become the leading enterprise in e-commerce industry in Vietnam.

Meanwhile, other e-commerce companies such as Zalora Vietnam was acquired by Central Group of Thailand in 2016, and recently was renamed as Robins Vietnam, and The Gioi Di Dong also just completed the acquisition of The Gioi Ky Thuat So Tran Anh company.

Southeast Asia is currently the third largest region in the world by the number of internet users, and the number of people who are online is even greater than the entire population of the United States. For that reason, Vietnam is one of the fastest growing tech hub and e-commerce market in the region, and is becoming a hot spot for international investment.

In overall, even though it’s a new industry, e-commerce is expected to become a key industry not only in Vietnam’s economy but also in Southeast Asia region, especially the era after the COVID-19 pandemic.

Photo on Pikwizard