Exporting online has become the first choice of businesses Inevitable trend Speaking at a seminar themed “The EU-Vietnam Free Trade Agreement (EVFTA) and Digital Transformation, a new chapter for Vietnam’s exports” on November 21 in Hanoi, Doan Duy Khuong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) said that in developing countries, online export has become the first choice of businesses, and an inevitable trend, as importers around the world increasingly seek customers through the internet. The US, Europe, Japan, and the Republic of Korea (RoK) are major importers of Vietnamese goods, and the percentage of internet users in these countries and territories is high, providing relatively easy access for Vietnamese exporters to these markets. Giant e-commerce platforms like Alibaba or Amazon have been seeking to enter the Vietnamese e-commerce market, which will provide domestic firms with more digital platforms to do business. Cross-border e-commerce is forecast to increase to US$3.3 trillion in the next two years, reflecting this indispensable trend for speedy business orders. Although e-commerce cannot completely replace traditional business, firms must apply it if they are to succeed in the era of the fourth industrial revolution or Industry 4.0. Online exports The EU-Vietnam Free… Read full this story
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