The Department of E-Commerce and Digital Economy is leading an initiative to create a unified e-commerce platform spanning all 63 cities and provinces.
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Vietnam is one of the fastest-growing e-commerce markets in the Asia-Pacific region, driven by a young population, a growing middle class, growing Internet penetration, and rising smartphone penetration. The COVID-19 pandemic and the subsequent social distancing measures have further accelerated e-commerce growth. As a result, e-commerce sales in the country are set to grow by 30.3 per cent to reach $13.1 billion in 2020, according to a study done by data and analytics company GlobalData.
The analysis reveals that e-commerce sales are expected to increase at a compounded annual growth rate (CAGR) of 18.8 per cent between 2020 and 2024 to reach $26.1 billion in 2024.