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|Vietnamese vendors can now sell their goods on the Alibaba platform|
Cross-border e-commerce platform Fado Vietnam and its Chinese partner Alibaba signed a co-operation agreement yesterday (March 14) in Ho Chi Minh City to launch a new trading channel supporting Vietnamese firms, especially small- and medium-sized enterprises (SMEs).
Accordingly, Vietnamese firms will be able to promote their products to 260 million purchasing companies from 240 countries and territories through the Alibaba e-commerce platform.
General director of Fado Vietnam Pham Dat said the collaboration will bring great values to Vietnamese SMEs as exports play an important role in the country’s economy. In the coming time, Fado hopes to support businesses to raise their online sales as well as facilitate their trading activities worldwide.
According to the 2018 report on e-commerce in Vietnam, up to 32 per cent of Vietnamese SMEs have established co-operation deals with foreign partners through online platforms. By joining the B2B e-commerce platform, exporting firms will be able to access global consumers with lower costs of trade promotion activities.
In Dat’s opinion, the shortcoming of Vietnamese firms is that everyone understands Industry 4.0 and e-commerce business, but do not know how to do startups and do not put all their determination into business. Moreover, human resources of production firms only have experience with traditional commerce, but lack knowledge about foreign trade and have poor foreign language skills. Thereby, it is very difficult for a traditional firm to develop e-commerce capabilities.
The co-operation between Alibaba and Fado is a good opportunity and channel for Vietnamese SMEs to promote their products over the world.
Fado became Alibaba’s authorised partner in Vietnam since late 2018 to help Vietnamese companies introduce their products through the website, including the country’s staples in such sectors as footwear, handicraft, and industry.