Vietnam wants to see 55 per cent of population shopping online by 2025

HANOI (Xinhua): Vietnam aims to have 55 per cent of its population shopping online with an e-commerce revenue in the business-to-customer (B2C) sector reaching US$35 billion by 2025, according to a masterplan approved by its Deputy Prime Minister Trinh Dinh Dung recently.

The revenue will account for 10 per cent of Vietnam's total retail sales and service revenue and a person is estimated to spend an average of US$600 a year for e-commerce, Vietnam News Agency cited the e-commerce development plan for 2021-2025 as reporting on Tuesday (May 19).

Under the plan, cashless payments in e-commerce activities will reach 50 per cent, of which those made via third-party payment service providers will make up 80 per cent of the total.

Meanwhile, economic zones and localities aside from big cities of Hanoi and Ho Chi Minh City are forecast to account for 50 per cent of the value of the total B2C transactions across the country.

Vietnam also targets to have 80 per cent of the e-commerce websites equipped with online booking functions and 50 per cent of the small- and medium-sized enterprises operating on e-commerce platforms, according to the plan. - Xinhua