The Vietnam Cross-border E-commerce Conference 2023: "Asia’s Elite, Global Breakthrough"

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    The Vietnam Cross-border E-commerce Conference 2023: "Asia’s Elite, Global Breakthrough"
    Posted on: 23/06/2023

    Mr. Nguyen Van Phuc - Managning Partner of HM&P Law Firm in the conference Vietnam Cross-border E-commerce 2023 “Asia’s Elite, Global Breakthrough” 

    On 9th June 2023, the representative of HM&P Law Firm (“HM&P”) participated with more than 900 companies in the Vietnam Cross-border E-commerce Conference 2023 “Asia’s Elite, Global Breakthrough” organized by the Vietnam E-commerce and Digital Economy Agency (“iDEA”) of the Ministry of Industry and Trade in cooperation with Amazon Global Selling in Ho Chi Minh City.

    The conference provided updates on the latest trends and information on e-commerce, related service providers in the field and shared the success experiences of Amazon’s Asian sellers.

    Some photos of the conference

    At the conference, experts confirmed that e-commerce is a global trend and Viet Nam is no exception to it. According to a survey of more than 300 Vietnamese micro, small, and medium enterprises (“MSMEs”), 86% of them said they could not conduct export without e-commerce. 

    In general, the big picture of e-commerce in Viet Nam holds many positive statistics: more than 20%/year for the growth of e-commerce retail, a 45% increase in the export value of enterprises selling Vietnamese goods on Amazon, with 10 million products sold and 80 % increase in the number of Vietnamese sellers on Amazon. According to Access Partnership’s latest report, Viet Nam’s e-commerce export value currently stands at more than VND 80 trillion, and this figure could reach nearly VND 300 trillion in 2027 with proper support. 

    Vietnamese brands on Amazon exhibition

    However, according to the statement of Mr. Gijae Seong – CEO of Amazon Global Selling Viet Nam, the cross-border export market in Vietnam is still in its infancy. Vietnamese enterprises participating in this market should focus on building and developing global brands rather than competing prices.

    Ms. Lai Viet Anh – Deputy Director General of the iDEA said that the government has and will continue to diversify programs to accelerate the process of digitalization, refine online export policies, study barriers faced by MSMEs, and provide them with solutions. The iDEA, together with Amazon Global Selling, will continue to hold training programs and improve the skills of Vietnamese companies participating in the global e-commerce market. 

    Mrs. Lai Viet Anh (Sources: https://moit.gov.vn/)

    The conference also identified four main challenges faced by MSMEs: knowledge, skills, legality, and cost. In an exchange with representatives of companies at this conference, Mr. Nguyen Van Phuc, Managing Partner of HM&P noted that “In order to protect business operations, the first thing companies should do when preparing to enter into the cross-border e-commerce market is to thoroughly research legal regulations on export, import, e-commerce transactions, and taxes”. 

    E-commerce legal support for Vietnamese enterprises and foreign investors is one of HM&P’s key services to clients in recent years. With experience in import – export legal advice and a deep legal understanding in tax and e-commerce, HM&P vows to guide Vietnamese enterprises in readiness for the participation in the cross-border e-commerce market as well as the potential rich Vietnamese e-commerce market.

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