Amazon teams up with T&T and SHB to develop cross-border e-commerce

Under the agreement, Amazon Global Selling, T&T Group, SHB will cooperate to support Vietnamese enterprises exporting goods on e-commerce platform through the banking system, according to information heard during Wednesday conference in Ho Chi Minh City.

Amazon, T&T Group, SHB will cooperate with two main contents including human resource training and supporting Vietnamese enterprises to export products though e-commerce platform.

The American retail giant will also coordinate with Vietnamese government in establishing a platform for advertising and promoting Vietnamese products and brands. 

At the first cross-border e-commerce conference organized by Amazon and Ministry of Industry and Trade, Susan Pointer, vice president of Amazon, said that the retailer will support Vietnamese enterprises to export goods, building brands, training and others.

As of end-2018, Vietnam's e-commerce market reached $7.8 billion, up from $4 billion in 2015. Average annual growth was estimated at 30%. The market value is expected to reach $13 billion in 2020, said Do Thang Hai, deputy minister of Industry and Trade.

Photo: nytimes.com

E-commerce was a great opportunity for enterprises to export goods and promote Vietnamese products to the world. The cooperation will contribute to Vietnam's export growth and the development of Vietnamese enterprises, Hai remarked.

Vietnam's e-commerce market is entering a growing period with an annual increase of 30-35% while global's total value of cross-border e-commerce is seen at $994 billion by 2020. Asia accounts for 40% of the total transaction value, said Lai Viet Anh, deputy director of Department of E-commerce and Digital Economy under Ministry of Industry and Trade.

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Source: VietnamFinance