Vietnamese SMEs to take opportunities by moving to e-commerce

Mat Bao Network business director Nguyen Minh Thai

The seminar- sponsored by VeriSign Inc., a global leader in domain names and Internet security- aims to support Vietnamese small and medium-sized enterprises (SMEs) as they take advantage of the growing e-commerce opportunity in Vietnam.

“Once a business has an official online presence by owning a domain name, that business can access larger markets, not only in the country but beyond the boundaries, reaching higher potential growth and increasing its profits.

Mat Bao Media CEO Huynh Ngoc Duy

“We realise that .com is preferred by e-commerce enterprises all over the world, for its popularity, availability, reliability and stability,” said Nguyen Minh Thai, business director at Mat Bao Network.

While there are many domains available, .com is one of the Internet’s original domains and is the global online standard for doing business online, with 115.6 million domain names registered worldwide at the end of 2014, and over 17 years of uninterrupted availability.

The .com is celebrating its 30th anniversary in 2015.

In fact, e-commerce has become a very popular business application thanks to its unparalleled benefits to firms and potential reach to their customers.

Nearly three billion people around the world are online today, and over $1.3 trillion in global e-commerce sales rely on the Internet.

The huge growth of Internet-connected devices, including mobile application usage, as well as the increasing use of bank cards with thousands of new cards issued daily in Vietnam, has created a favorable market for the growth of e-commerce in the country.

According to the Department of E-commerce and Information Technology, in 2014, the total value of an online purchase of a single person per year was estimated at about $145, and B2C e-commerce sales reached $2.97 billion, which accounted for 2.12 per cent of total retail sales in the country.

In 2015, e-commerce is expected to account for $4 billion in sales in Vietnam, thus providing a huge market opportunity for Vietnamese SMEs that want to evolve their businesses and become e-commerce retailers.