Amazon will train 100 Vietnamese businesses to develop their business on its platform. According to the Department of Trade Promotion, Amazon Global Selling will identify 100 small and medium-sized enterprises (SMEs) for its “Supporting Vietnamese enterprises to boost exports via Amazon” program. It will train the businesses in promoting exports and build brands through its website.
According to Amazon Global Selling, the program will support businesses with comprehensive export solutions and logistics infrastructure, its 175 fulfillment centers and presence in 185 countries.
“In the context of evolving global markets, Vietnam has more than 700,000 businesses, of which 98 percent are SMEs, so in addition to traditional trade promotion methods such as going to international trade fairs, promoting e-commerce is extremely necessary,” Vu Ba Phu, head of the department, said.
Bernard Tay, director of Amazon Global Selling in Southeast Asia, said his company chose Vietnam to run this program because it sees great potential for development, especially with the entrepreneurial spirit of Vietnamese youth.
“Vietnamese businesses are well known for their top production capabilities. When combined with our worldwide resources, it will create conditions for them to develop and build brands in the international market.”
But he said they need to adapt to global product trends, improve their proficiency in foreign languages and brand building expertise to derive the most from the e-commerce platform.
Vietnam’s e-commerce value climbed to about $4 billion in 2016, becoming one of the fastest-growing markets in the world.
Revenue from online retail in the country is forecast to hit $10 billion by 2020, accounting for five percent of the country’s retail market.