The report by Reputa shows that TikTok Shop has made a significant impact in the Vietnamese e-commerce market, surpassing established players like Tiki and Sendo to become one of the top three most popular e-commerce platforms on social networks, along with Shopee and Lazada. 

According to the Ministry of Industry and Trade, the scale of Vietnam’s retail e-commerce market in 2022 was estimated at $16.4 billion, which accounted for 7.5% of the country’s revenue of consumer goods and services. Shopee emerged as the most popular e-commerce platform with a total score three times higher than the second-ranked platform, Lazada. 

Meanwhile, TikTok Shop made its debut in the ranking and came in third, with a total score of 13.56, surpassing Tiki. Reputa’s report also ranked the most popular e-commerce companies and industries in Vietnam, with Meta Online Network Joint Stock Company being the most popular e-commerce company and the “Beauty – Health” industry being the leading industry in terms of discussion. 

The e-commerce market in Vietnam is expected to grow rapidly, with the growth rate of e-commerce in Vietnam expected to increase rapidly in 2023 and the market forecasted to reach $49 billion by 2025.

According to Momentum Works, Southeast Asian nations’ total expenditure (GMV) on food delivery services in 2022 reached $16.3 billion, up 5% following two years of a delivery boom due to Covid-19.

For the first time in three years, growth in the area was mostly driven by small-scale markets such as the Philippines (up $0.8 billion), Malaysia (up $0.6 billion), and Vietnam (up $0.3 billion).

As Covid-19 became an endemic illness and economies reopened, GMV in bigger markets such as Singapore (down $0.4 billion), Thailand (down $0.4 billion), and Indonesia (down $0.1 billion) dropped.

Grab and ShopeeFood are the two most popular applications in Vietnam, with 45% and 41% of the GMV market share, respectively. The remainder is split between Baemin (12%) and Gojek (2%).

As of the end of 2022 in Southeast Asia, Grab’s GMV is estimated to reach $8.8 billion, accounting for 54% of overall GMV in the area and rising by 16% year on year.

Foodpanda is estimated to contribute $3.1 billion, accounting for 19% of the region’s GMV and reflecting a 9% decrease; Gojek and ShopeeFood still maintain the same GMV level in 2021, reaching $2 billion and $0.9 billion respectively.

Source: ZingNews

The export turnover was more than $10 billion and $20.9 billion in 2017 and 2021, respectively.

According to Le Thi Bich Loan, deputy head of the SHTP management board, the park has become a trustworthy destination for global high-tech powerhouses with the presence of over 10 international conglomerates in the field, including Intel, Jabil, Rockwell Automation, Nidec, Nipro, Samsung, and Sonion.

Established in 2002, the park has seen its accumulated production value reaching $120 billion so far. It now houses 51 foreign-invested projects worth $10.1 billion.

By 2025, the SHTP aims to become a smart technology park and the core of the interactive and innovative urban area in Ho Chi Minh’s eastern part, contributing to the city’s socio-economic development. In addition, it plans to attract investment of around $3 billion in 50 hi-tech projects and establish at least one global hi-tech enterprise.

To achieve these goals, the park is going to accelerate investment projects for its scientific space with a total surface area of 93ha.

It will increase the link between its enterprises and universities and research institutes in the region, especially the Vietnam National University-HCM City (VNU-HCM), in order to increase the proportion of hi-tech products by domestic companies.

Source: VietnamPlus