Revenue of the e-commerce sector increased year-by-year, reaching US$2.2 billion last year. The value is estimated to hit more than $4 billion by 2015.— Photo inet.edu.vn

HCM CITY (Biz Hub) — Online shopping has developed strongly in Viet Nam in recent time and is forecast to further develop in the coming years, according to the E-commerce and Information Technology Department.

Viet Nam is one of the top three countries with the highest rate of growth of internet and mobilephone subscribers in Viet Nam, with more than four million people using internet a day, offering great potential for online shopping development, according to Tran Huu Linh, head of the department.

Revenue of the e-commerce sector increased year-by-year, reaching US$2.2 billion last year. The value is estimated to hit more than $4 billion by 2015.

Besides e-commerce companies, manufacturing firms have also sold their products via their websites.

In addition, a large number of individuals are taking part in selling goods through their social media pages.

Goods sold via the internet are diverse, ranging from factory-made to home-made ones.

Compared to open shops, selling goods via the Internet saves costs and does not require large investment capital.

Nguyen Quang Huy, chairman and general director of Caganu Retailer Group, for instance, said his company had obtained a high growth rate since joining the e-commerce market in June last year, adding that it planned to expand services to many other cities and provinces nationwide.

But while e-commerce had seen significant growth, many Vietnamese consumers had not participated in online shopping because of security fears and complicated shopping online procedures, he said.

In addition, some e-commerce sites delivered low-quality products that are not in line with what is introduced on websites, discouraging consumers to make purchases online.

Do Ngoc Binh, chairman of the Viet Nam Post Corporation, said that 38 per cent of its surveyed respondents complained about late delivery.

The e-commerce market would expand more quickly if existing problems were solved, Binh said.

The Ministry of Industry and Trade had promoted regulations stipulating e-commerce operations, Linh said, adding that it was collecting opinions for a draft circular on managing operations of e-commerce websites, including social media.

The move aimed to support the development of the e-commerce market in the coming time, he said.

Online shopping day

To promote online shopping, the department in collaboration with the Viet Nam E-commerce Association on Thursday launched the "Online shopping day 2014", which will take place on December 5 at www.onlinefriday.vn or www.ngaymuasamtructuyen.vn.

During the day, consumers would enjoy special discounts and free shipping costs and other incentives from participating businesses when they purchase items online, Linh said.

This is the first time such a large-scale event has been organised in Viet Nam for online shopping, with about 500 businesses expected to be involved. — VNS