(Photo: VOV)

Established last year, the Hanoi-based Eviet Global Company is a micro e-commerce business.

Tran Minh Tu, a representative of the company, Eviet Global has focused on developing fine arts handicraft products on the e-transaction platform.

“The e-commerce market is extremely large and there are always opportunities for businesses to grow without much competition with their rivals. In fact, opportunities are often greater than challenges, if we learn how to use them,” Tu said.

Many Vietnamese businesses have been well aware of the advantages of e-commerce and invested in sustainable e-commerce sectors by improving training and human resource quality as well as their legal knowledge to avoid possible trade disputes.

Nguyen Thi Minh Huyen, Deputy Director of Vietnam E-Commerce and Digital Economy Department of the Ministry of Industry and Trade, said many programs have been held to support organizations, individuals, and businesses to develop e-commerce.

She added, “Under the Government's direction to promote e-commerce and digital transformation until 2025 and the campaign calling on Vietnamese people to prioritize using Vietnamese goods, specific roadmaps have been made to achieve the goals each year. Training to raise the awareness and management capacity of enterprises are the keys because changing businesses’ mindset in management decides the development of e-commerce. Household businesses have offered their products on social networks and gained certain achievements. It’s now time for businesses to expand customers and online distribution systems.”

Over the past few years, State agencies have promoted online trading helping the public access e-transaction more quickly.

Bui Quang Tuan, Director of the Vietnamese Economic Institute, said: “According to the Government’s Decision 645, e-commerce is to improve the businesses’ competitiveness and promote exports, and businesses are the core to deploy e-commerce application. The state acts as the creator of an environment and manager of the infrastructure.”

“Vietnam targets to have 55% of its population participating in online shopping and each spending 600 USD per year, and e-commerce revenue increases 25% annually. By 2025, e-commerce will account for 10% of the total retail sales and services. But a recent research by the World Bank shows that most domestic businesses have not yet caught up with the third industrial stage. So how should we conduct digital transformation? There remain many gaps in institutions, policies, and business capacity,” said Tuan.

A professional strategy at business and national level, persistence, and flexibility to realize the plan is a must for every business and management agency.