Alibaba to double investment in emerging Vietnam market

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(VOVWORLD) -, the global business-to-business (B2B) e-commerce platform of Alibaba Group, plans to double its investment in emerging manufacturing hubs across Vietnam.
Alibaba to double investment in emerging Vietnam market - ảnh 1Roger Luo, director of Alibaba in Asia-Pacific (first from the left), speaks at the press briefing.

This information was confirmed during a recent press briefing, where an Alibaba representative unveiled the company's plans to expand its operation in Vietnam over the next three years.  

Roger Luo, director of Alibaba in Asia-Pacific, said that in addition to Hanoi and Ho Chi Minh City, the group will increase personnel in other localities such as Binh Duong, Bac Ninh, Long An, Da Nang, and Hai Phong.

Luo emphasized that's expansion in the Vietnamese market will benefit small and medium enterprises (SMEs) by leveraging the power of global e-commerce to grow beyond the domestic market.

In addition, he highlighted that currently has 47 million business buyers from more than 190 countries, making it the ideal starting point for Vietnamese SMEs seeking to enter the international market. By doubling investments in emerging manufacturing hubs, aims to attract more businesses to participate in global e-commerce.

The average number of buyers of Vietnamese products increased by 55% in March compared to the same period last year. Additionally, the number of Vietnamese products available on the platform increased by 24%, according to statistics provided by Vietnamese businesses currently have advantages in various fields, including agricultural products, food, fashion, handmade furniture, construction, architecture, and home garden products.

Reports indicate that the total number of buyer transactions during the first six months of the year increased by 33% compared to the previous year. Industry insiders believe that Vietnamese products have a positive outlook for going global, especially with the global market witnessing a growth rate of up to 91% in online traffic, particularly in emerging markets like Southeast Asia.