The COVID-19 pandemic has put the brake on Vietnam’s economic growth over the last two years but, on the other hand, it has also fueled a significant uptick in e-commerce which recorded a 16% growth to 13.7 billion USD in retail revenue in 2021, according to the White Book on Vietnamese E-business 2022.
Hanoi (VNA) – The COVID-19 pandemic has put thebrake on Vietnam’s economic growth over the last two years but, on the other hand, it has also fueleda significant uptick in e-commerce which recorded a 16% growth to 13.7billion USD in retail revenue in 2021, according to the White Book onVietnamese E-business 2022.
Last year, the economic growth hit the lowest in 30 years, at just 2.58%, with key services sub-sectors experiencing downturn.
Data from the General Statistics Office showed thatretailing and wholesaling declined 0.21% year-on-year, causing the economy todecrease 0.02 percentage point. Warehouse and logistics plunged 5.02% andlodging and catering services 20.81%, leading to a drop of 0.3% and 0.51%,respectively, to the GDP growth.
Meanwhile, the share of turnover from e-retailing to lastyear’s total retail sales of goods and services was 7%, a year-on-year rise of27% from 2020.
E-retailing is forecast to surge 20% this year to 16.4billion USD, compared to 5 billion USD in 2015. A 2022 study by big data analysiscompany Metric.vn indicated that Vietnam is emerging as the second largeste-commerce market in Southeast Asia, only after Indonesia.
The White Book on Vietnamese E-business 2022 also reportedthat with online marketplaces now a vital distribution channel in the eraof digitalisation, Vietnamese enterprises are investing more on expanding theirpresence on these platforms.
Those doing business on social networks, such as Facebook,Zalo and Instagram, spurred 41% in 2021 and 57% in 2022, according to thebook./.
The explosion of online shopping and the increasing numbers of internet and smartphone users have contributed to market growth in Asia-Pacific, including Vietnam.
Vietnamese firms are urged to use online platforms to expand their market reach in the UK now that the UK-Vietnam Free Trade Agreement (UKVFTA) has come into effect, experts said.
Global growth investor Warburg Pincus with headquarters in New York, the US, has decided to invest in a cross-border e-commerce project in the southern province of Binh Duong.
The fast-growing e-commerce sector is making big money but its tax payments are not commensurate with its revenues, exposing the need for a better tax policy to prevent losses, according to insiders.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Illustrative image. (Photo: vneconomy.vn)
