On May 15, 2020, the Prime Minister issued Decision No. 654/QD-TTg approving the Master Plan on National E- Commerce Development for the 2021-2025 period. Accordingly, specific objectives, which need to be achieved in 2025, are set out as follows:
Illustrated image (source: internet)
Regarding the market size, it is expected that 55% of the population will shop online, with the amount of consumer spending for goods and services of USD 600 per person per annum; the Business-to-Consumer (B2C) e-commerce sales (for both consumer goods and services traded online) is expected to increase by 25% p.a, reaching USD 35 billion by 2025, accounting for 10% of the total retail sales of goods and services nationwide.
On the infrastructure of supporting services for e-commerce, cashless payments in e-commerce are expected to reach 50%, of which payments through the intermediary payment service providers should account for 80%; the average costs for delivery and final order completion should account for only 10% of the product prices in e-commerce; 70% of the purchases on e-commerce websites/apps should have e-invoices; developing and putting into operation a shared database on e-commerce.
Concerning the levels of e-commerce development of different economic regions, the localities other than Hanoi and Ho Chi Minh City are expected to take up to 50% of the country's B2C transaction value; 50% of communes and administrative units across the country should have businesspeople selling goods or providing services online.
Regarding the e-commerce applications among the businesses, 80% of e-commerce websites should have integrated online ordering function; 50% of small and medium enterprises should conduct business activities on e-commerce trading platforms, including social networks with functions of an e-commerce trading platform; 40% of businesses should participate in e-commerce activities on mobile applications; 70% of electricity, water, telecommunication and communication service providers should deploy e-contracts with the customers, etc.
Also in this Decision, the Prime Mister has assigned the ministries, agencies and local authorities to implement the relevant activities in this Master Plan. Accordingly, the SBV has been assigned to take lead and coordinate with the ministries, agencies and local authorities to implement the following tasks:
Continuing to improve the mechanisms and policies to promote e-payments in order to facilitate e-commerce; establishing mechanisms for the management and supervision of payment transactions with a view to performing the state management over the provision of cross-border services related to e-commerce.
Directing the credit institutions and the intermediary payment service providers to modernize their infrastructure, provide services on mobile platforms, improve the electronic payment system to better serve the demand for electronic transactions of individuals and organizations; directing the formulation and development of the retail payment infrastructure and electronic payment services for e-commerce transactions.
Le Hang