VietNamNet Bridge - As the laws set light sanctions on violators, e-commerce websites and sellers would rather pay fines than obey the law. Several days ago, Lazada.vn, a well known e-commerce website in Vietnam, was discovered selling equipment to assemble antipersonnel guns. Lazada is not the only website that displays prohibited products. Other sites even offer to sell bows and arrows, gun accessories (such as rifles and pistol holsters), toys that affect children's psychology and personality, and sex products. How to punish Lazada? Lazada is not the only website that displays prohibited products. Other sites even offer to sell bows and arrows, gun accessories (such as rifles and pistol holsters), toys that affect children's psychology and personality, and sex products. Dang Hoang Hai, director of the E-commerce and Digital Economy Agency on February 18 told Nguoi Lao Dong’s reporters that the agency was coordinating with the police to find out if the displayed … [Read more...] about E-commerce websites continue to violate laws, operate like flea markets
Vietnam e commerce website
Amazon and Alibaba to compete in Vietnam e-commerce’s ring, source: Pinterest Amazon begun its foray into Vietnam by striking up a partnership with Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade to support Vietnamese businesses to boost exports via Amazon’s marketplaces. Vietnam is the second fastest growing market in Southeast Asia (just behind Indonesia), according to a report by Google and Temasek, and already features Alibaba. The Vietnamese e-commerce sector is worth about $2.8 billion, with an annual growth rate of 87 per cent. Simon Baptist, global chief economist at The Economist Intelligence Unit, pointed out: “Vietnam has a young population proficient in technology who are making it a habit to buy goods online, with their rising income. In addition, Vietnam is trying to promote the non-cash economy with the goal of having 50 per cent of urban households use electronic payments for daily transactions by 2020,” … [Read more...] about Amazon and Alibaba to compete in Vietnam e commerce’s ring
Vietnam’s e-commerce websites are still receiving heavy investment to develop despite big losses, but when will these projects stop losing? The Vietnamese e-commerce market is one of the leading markets in the region for investment. According to Nielsen, the annual growth speed of the e-commerce market is 22% and is expected to hit US$10 billion in annual revenue by 2022 from the current US$4 billion. The Vietnamese e-commerce market shows huge potential for development and receives great attention from new investors. In a recent report by Topica Founder Institute, e-commerce attracted US$83 million of foreign investment through 21 deals. Startup SEA (used to be Garena, which was termed as a unicorn in Asia), ranked first among investors pouring capital into Vietnamese startups in 2017. SEA spent US$64 million acquiring 82% of the shares in Foody, a food delivery website and app. CyberAgent Ventures, a Japanese venture investment fund, continues its activities in Vietnam. In … [Read more...] about When will Vietnam’s e-commerce players stop “burning money”?
VietNamNet Bridge - The failure of some e-commerce platforms does not reflect the true state of e-commerce, according to the Ministry of Industry and Trade’s E-commerce and Information Agency. The figure is expected to increase to $10 billion in the next five years. Still young, the e-commerce sector has the most desirable growth rate in Vietnam. However, a series of e-commerce floors had to shut down because of big losses. Beyeu, Deca and Lingo left the market after long period of struggling to survive. Nguyen Thanh Hung, chair of the Vietnam E-commerce Association (Vecom), said he could not see any contradictions between the closure of the e-commerce floors and the predicted high growth rate of the e-commerce market. “E-commerce has been growing very fast in the past few years with two-digit growth rates year after year,” Hung said. When building up the e-commerce index, the Ministry of Industry and Trade predicted some development periods of the business sector. … [Read more...] about Beyeu, Deca, Lingo close but Vietnam’s e-commerce still vibrant
On May 16th, Government issued Decree No. 52/2013/ND-CP under which the Vietnam E-commerce and Information Technology Agency (VECITA) is to be notified of any new establishment of websites selling goods. The new decree also bans organizations from operating a marketing network in which participants must pay an initial deposit for buying a service and receiving a commission, prize or other economic benefits in return for recruiting a new member to join the network. This decree will take effect on July 1, and replaces Decree 57/2006/ND-CP of June 9, 2006. It is aimed at a legal transparent framework for fair e-commerce transactions. … [Read more...] about Registration required for e-commerce websites