Following Alibaba, Amazon to land in Vietnam in March

By Tran Dung - Mar 09, 2018 | 08:00 AM GMT+7

TheLEADERNguyen Thanh Hung, Chairman of Vietnam E-commerce Association (VECOM), said that Amazon will officially enter Vietnamese market in March through its initial investment in small and medium scaled enterprises (SME).

Following Alibaba, Amazon to land in Vietnam in March

At the Vietnam Online Business Forum (VOBF) 2018 held on March 14, Amazon and VECOM will launch a program to support Vietnamese SMEs’ sale and export through Amazon's ecosystem, Hung said.

Amazon’s specific strategies in Vietnam will soon be revealed by Gijae Seong – Amazon’s Global Sales Manager in Singapore at VOBF 2018. The cooperation between VECOM and Amazon began at the end of last year. Specifically, VECOM will support Amazon’s staffs to learn about Vietnamese market.

Amazon is the world's largest e-commerce and online retailer, with half a million employees working across the world. In 2017, Amazon's revenue reached approximately US$178 billion.

Amazon's participation will contribute to the development of the e-commerce market in Vietnam, Hung stated, adding that "Foreign firms are making the e-commerce market in Vietnam more attractive."

Alibaba, China's largest e-commerce corporation, also made moves to target Vietnam and Southeast Asia in general through the acquisition of Lazada. Earlier in November, during his Viet Nam visit, Jack Ma, founder and Chairman of Alibaba, also expressed his desire to assist Viet Nam to develop e-commerce and science technology fields in which the country holds high growth potential.

According to VECOM, Vietnam’s e-commerce is still developing strongly and will maintain at an average growth rate of 25 per cent a year in the 2018-2020 period.