Nguyen Van Thanh, director of the e-commerce development center under the Ministry of Industry and Trade (MoIT) e-commerce and Digital Economy (iDEA), pointed out that although Vietnam's e-commerce growth rate is very high, in fact its growth is unsustainable.。

Market oversaturation authorities actively respond

At present, Vietnam's large e-commerce platforms Shopee, Lazada and TikTok Shop are very competitive, which is the primary reason for this development trend.。Nguyen said: "Many suppliers operate on the same platform and sell the same goods, resulting in oversaturation of the market and fierce competition.。"

Ho Chi Minh City's Department of Industry and Trade said: the strong development of the e-commerce industry has brought regulatory constraints, especially in terms of policy promotion, tax administration, origin management and commodity management;。

The spatial distribution of e-commerce population and income in Vietnam is very uneven.。Some 70 per cent of the country's population live in rural areas, but big cities such as Hanoi and Ho Chi Minh City account for 70 per cent of the country's online retail sales.。The revenue of the e-commerce platform is also mainly dependent on these two cities - Hanoi over 42 trillion VND (about 17.500 million U.S. dollars), Ho Chi Minh City over 57 trillion VND (about 23.$800 million)。

Not only that, environmental pollution caused by product packaging, limited policies and regulations, high cost of creating and maintaining stalls and inefficient logistics are also the reasons why it is difficult for Vietnamese e-commerce to develop sustainably.。

In order to improve the efficiency of e-commerce activities, MoIT will focus on reviewing laws and regulations, with the Electronic Transactions Law and the Consumer Protection Law as special attention targets, decentralizing power to local governments, and comprehensively managing online transactions.。

In the future, Vietnam's industrial and commercial departments will strengthen the management and supervision of the network environment, requiring social networks and e-commerce platforms to take the initiative to delete illegal products and information。Departments will also strengthen database sharing to enhance national management and service effectiveness。

E-commerce Momentum Unabated, Big Four Contribute Digital Power

Despite the obstacles, MoIT said that the e-commerce industry has always been one of the highlights of Vietnam's digital economy development.。Since its inception, Vietnam's retail e-commerce revenue growth momentum is particularly rapid。Revenue of $8 billion in 2018; exceeded the $10 billion mark to $10.8 billion in 2019; increased to $11.8 billion in 2020。

In 2022, this figure increased by 20% year-on-year to $16.4 billion, accounting for 7% of Vietnam's total retail sales of consumer goods and services..5%。According to statistics, online consumers in more than 54.6 million people, per capita annual online shopping amount of nearly $270。In 2023, the industry's revenue is expected to grow exponentially to $20.5 billion.。

It can be affirmed that e-commerce is one of the pioneer industries of Vietnam's digital economy, creating momentum for economic development and leading the digital transformation of the business sector.。

In the emerging wave of e-commerce platforms, Shopee, Lazada, Tiki and TikTok Shop are the four most popular applications, ranking high in the competition.。In addition, there are many potential emerging e-commerce platforms that can compete with these four e-commerce giants, such as Sendo and Mobile World.。

To anti-counterfeiting more consumer rights and interests

Tran Huu Linh, director general of Vietnam's Directorate General for Market Regulation (DMS), said e-commerce poses many new challenges in combating counterfeit goods and protecting consumers.。

Recently, DMS, in cooperation with Vietnam National University of Economics, held the Vietnam e-commerce anti-counterfeiting technology and consumer protection forum in Hanoi.。Chen Youling pointed out at the meeting that preventing cyber violations requires appropriate tools and methods。Without appropriate sanctions, the cyber environment will become a place to store, distribute and trade counterfeit goods, thereby reducing consumer confidence and hindering economic development。

Le Duc Anh, director of the Center for Information and Digital Technology (CID) under the iDEA, also said that it is necessary to apply cutting-edge technology solutions to track the origin of goods and prevent counterfeit goods.。

It is understood that MoIT functions have been working hard to improve the infrastructure, legal framework and policies of e-commerce and digital economy to promote the sustainable development of the industry.。This year, iDEA established a digital ecosystem to strengthen consumer protection, including resolving e-commerce complaints and online disputes.。

At the forum, the representative of Vietnam National Economic University proposed that e-commerce should not only prevent counterfeit goods, but also ensure all rights and interests of customers.。Therefore, it is necessary to manage the merchants who provide goods and services and organize the e-commerce ecosystem.。In addition, it is necessary to regulate the information use rights of e-commerce platforms and application providers at the legal level.。

Not only that, he also suggested strengthening the management of delivery invoices and clarifying the common responsibilities and technical solutions for anti-counterfeiting and consumer protection.。

Today, while e-commerce in Vietnam is in the midst of a wave of strong growth, the road to sustainable development also requires the joint efforts of all parties.。Balancing competition, strengthening the regulatory framework, using advanced technologies and prioritizing consumer protection have provided inexhaustible impetus for the healthy development of the country's e-commerce landscape。