The variety of forms, participants, operating processes, and supply chains for goods and services, supported by internet infrastructure and modern technology applications, is expected to position Binh Duong's e-commerce as a crucial pillar in the advancement of the digital economy.
Expand market
A report from the Ministry of Industry and Trade reveals that Vietnam's e-commerce sector surpassed the US$25 billion in 2024, reflecting a 20% increase compared to 2023. This growth highlights the significant role of the e-commerce industry and the digital economy in the overall national economy.
Mr. Nguyen Thanh Tin, Chairman of the Thu Dau Mot City Young Entrepreneurs Association, said that e-commerce is not only a trend but has become an essential sales channel, helping businesses reach a larger market and reduce operating costs. One of the prominent trends in e-commerce today is the strong development of shopping via social networks. Platforms like Instagram, Facebook, and TikTok are not only places to connect with friends but also become sales channels for many businesses and individual traders. Shopping on these platforms saves time and provides a seamless shopping experience.
THE 2024 VIETNAM E-COMMERCE INDEX REPORT HAS BEEN PUBLISHED BY THE VIETNAM E-COMMERCE ASSOCIATION (VECOM), SHOWING THAT BINH DUONG RANKS THIRD IN THE COUNTRY IN TERMS OF E-COMMERCE. |
“We always try to support member businesses of the Thu Dau Mot City Young Entrepreneurs Association to develop skills in applying Artificial Intelligence (AI) technology and big data. Today's e-commerce channels have the ability to analyze consumer behavior and preferences to provide suitable products. Personalization helps consumers find and buy products quickly, while increasing conversions for businesses. Shopping websites and applications are no longer simply places to provide products, but have become tools to help improve consumers' shopping experience," said Mr. Nguyen Thanh Tin.
Nguyen Minh Quan, lecturer at Ho Chi Minh City University of Economics, commented that in 2025, e-commerce will not only stop changes in consumer shopping behavior but will also see an explosion of new trends, creating a major turning point for the entire industry. Specifically, there will be a rapid increase in smartphones, turning this device into the main shopping channel; it is forecasted that 85% of e-commerce transactions will take place on mobile platforms, in large markets such as Ho Chi Minh City and Binh Duong, this rate may be even higher due to the young population and widespread internet penetration.
Need to improve policy
According to Mr. Nguyen Huu Tuan, Head of Policy Department, Department of E-commerce and Digital Economy (Ministry of Industry and Trade), Binh Duong has recently implemented many solutions to promote e-commerce development, supporting businesses to catch up with new business trends, especially small and medium enterprises, cooperatives, and production establishments. This is an important foundation for the province's e-commerce to break through in the coming time.
Mr. Do Manh Tien, Deputy Director of the Provincial Center for Investment Promotion and Enterprise Support, said that recently, Provincial Department of Planning and Investment organized a training course on business management on marketing and sales in the digital age, with the participation of 35 students from businesses in the province. With practical knowledge, this class creates opportunities for students to learn, share practical experiences, especially develop initiatives that can be immediately applied to practical work at their enterprise after completing the course. Through the course, businesses will understand and effectively apply digital marketing tools to improve competitiveness and open up new development opportunities.
Mr. Nguyen Huu Tuan noted that the digital economy in Vietnam, and Binh Duong province specifically, still faces several challenges. E-commerce models are becoming increasingly complex and diverse, yet the legal framework for managing these models is insufficient. Currently, livestream sales activities are governed by general e-commerce regulations, but there are no specific regulations to address this particular form of commerce.
The Ministry of Industry and Trade is collaborating with other relevant ministries and sectors to propose updates to the legal framework to effectively manage new business activities, protect consumer rights, and foster a healthy competitive environment. Additionally, the rise of counterfeit and low-quality goods on online platforms presents significant issues. Managing cross-border e-commerce activities is also challenging due to inadequate regulations.
Ms. Phan Thi Khanh Duyen, the Deputy Director of the Provincial Department of Industry and Trade, announced that, following the direction of the Provincial People's Committee and with the support and close collaboration of relevant departments, branches, and sectors, the Department of Industry and Trade will continue to organize a variety of conferences and seminars in 2025. These events aim to help enterprises, cooperatives, and business households enhance their sales skills through e-commerce channels. During these conferences and seminars, participants will receive guidance and insights on product distribution skills, multi-channel sales management solutions, digital capacity building, innovative business strategies, and anti-counterfeiting measures, among other topics. |
Reported by Tieu My - Translated by Ngoc Huynh
