Vietnam has huge e-commerce potential
Vietnam has huge potential for e-commerce and many young people have earned huge money from the internet but the country still hasn't been able to exploit its advantages according to a representative of Facebook Vietnam.
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The issue was discussed during a conference about the overview of e-commerce in Vietnam held on February 24 in Hanoi.
Huynh Kim Tuoc, representative of Facebook Vietnam, said that e-commerce in Vietnam is showing positive development signs. Vietnam is ranked seventh to eighth for the number of internet users on computers and mobile phones and number of people who have internet accounts for shopping.
Tuoc went on to say that Vietnam could use the internet as a shortcut to increase average incomes. "Foreign experts also have the same view, but Vietnam still hasn't been able to take advantages of the internet and technology," he said.
Tuoc said he had once talked with a 19-year-old who said he earned about USD100,000 a month. According to Tuoc, there are 50 USD millionaires in Vietnam that earned their fortunes from online businesses and this number could double in coming time.
However, most of them want to remain anonymous and didn't want to share their stories because of the lack of laws about online businesses in Vietnam.
"They aren't concerned about taxes. But that 19-year-old boy told me that problems would arise if he registered his business. He doesn't want people come to visit his house every week. He's afraid," Tuoc said.
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The issue was discussed during a conference about the overview of e-commerce in Vietnam held on February 24 in Hanoi.
Huynh Kim Tuoc, representative of Facebook Vietnam, said that e-commerce in Vietnam is showing positive development signs. Vietnam is ranked seventh to eighth for the number of internet users on computers and mobile phones and number of people who have internet accounts for shopping.
Tuoc went on to say that Vietnam could use the internet as a shortcut to increase average incomes. "Foreign experts also have the same view, but Vietnam still hasn't been able to take advantages of the internet and technology," he said.
Illustrative photo
Tuoc said he had once talked with a 19-year-old who said he earned about USD100,000 a month. According to Tuoc, there are 50 USD millionaires in Vietnam that earned their fortunes from online businesses and this number could double in coming time.
However, most of them want to remain anonymous and didn't want to share their stories because of the lack of laws about online businesses in Vietnam.
"They aren't concerned about taxes. But that 19-year-old boy told me that problems would arise if he registered his business. He doesn't want people come to visit his house every week. He's afraid," Tuoc said.
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