Vietnam’s e-commerce sector is expected to increase by 25 per cent this year and reach $20 billion, according to the Vietnam E-commerce Association (VECOM).

Speaking at a conference held recently to release the Vietnam E-Business Index (EBI), VECOM said the sector saw growth of over 22 per cent year-on-year in the first quarter of 2023 and growth is forecast at 25 per cent for the year as a whole.

E-commerce therefore continues to record the fastest and most stable development in Vietnam. The figure is still low, however, against the global average, according to analysts, meaning there remain huge opportunities for further development.

Business activities on e-commerce platforms and social media were among the outstanding features of the e-commerce sector in 2022 and the first quarter of 2023, according to VECOM. Sixty-five per cent of enterprises conduct businesses on social networks, with the number using platforms such as Zalo, Facebook, and Viber continuing to increase.