#16 | Vietnam and a strong transformation in the digital economy – Guest Dr. Chen, Vice President of Qualcomm
Several of the largest e-commerce platforms are losing customers, but Amazon Global Selling Vietnam (AGS) is one of the few that continues to aid Vietnamese progress in the field of cross-border e-commerce.
Mr. Gijae Seong, Head of Amazon Global Selling Vietnam, continues to deliver amazing energy to entrepreneurs prepared to grow into the worldwide market on The Next Power Talkshow.
In episode 10, prepare yourself with the best gear for your next cross-border e-commerce journey.
Mr. Gijae Seong, Head of Amazon Global Selling (AGS) Vietnam, was the guest on The Next Power’s episode 10. Mr. Seong has been with Amazon since 2015 and has worked in three countries: Korea, Singapore, and Vietnam. He is also one of the pioneers for Amazon Global Selling in these countries. Also, he is currently in charge of managing and operating AGS Vietnam projects, as well as recruiting and managing Amazon Global Selling Vietnam partners.
Amazon Global Selling, which was launched in the Vietnam market in 2019, plays an important role in the commercial activities of Vietnamese businesses in the multinational market. AGS currently has two teams in Ho Chi Minh City and Hanoi to support business partners and develop Amazon products. AGS has also successfully published more than 50 Vietnamese language courses, 70 seminars, and training programs to assist Vietnamese businesses in taking the first steps toward bringing made-in-Vietnam goods to the rest of the world.
Mr. Seong previously stated that “Vietnam is demonstrating advantages to welcome the new normal’s e-commerce and cross-border e-commerce .” Mr. Seong clearly recognizes the potential for cross-border e-commerce development in Vietnam; however, this is still a relatively new field with numerous challenges for Vietnamese businesses.
E-commerce has always intrigued people’s interest in recent years. Amazon has officially established Amazon Global Selling Vietnam, recognizing the development potential of Vietnamese businesses in the international market. Cross-border e-commerce has enormous potential for Vietnam.
Due to cross-border e-commerce, merchants no longer need to invest $1 million to open a physical store in the United States and ship goods to every corner of the world. “Cross-border e-commerce represents a greater level of innovation. It allows you to sell to countries where you’ve never been before without having to open a physical store,” Gijae Seong explained.
Also, Mr. Seong recognized that manufacturers are focusing on Vietnam, therefore assisting Vietnam in becoming the production center of Southeast Asia and an important manufacturing country in the global economy. The Head of AGS Vietnam also praised the country’s economic stability, as well as the Vietnamese government’s efforts to support exports and create favorable conditions for Vietnamese sellers in the global marketplace in the coming period
According to Amazon Global Selling statistics, Vietnamese sellers excel in five categories: household appliances, kitchen products, clothing fashion, health care and personal care products, and tools for home repairs and small home gadgets. The distinct advantage of Vietnam and made-in-Vietnam products have distinct advantages of being environmentally friendly, having a unique design, and being distinct from products from other countries.
E-commerce offers equal opportunities for small businesses and large enterprises, whether they are from Vietnam, from the US or any other country. It provides sellers with comparable resources, technologies, and information. In Vietnam, products of big brands such as Minh Long Porcelain, Trung Nguyen, or small products such as helmets, 3D cards, cashew nuts, etc. have been successfully sold on Amazon’s platform.
However, there are still many obstacles preventing Vietnamese goods from complying with standards and regulations, such as export regulations or documents and procedures. Brand protection is another vexing issue for Vietnamese businesses.
Mr. Seong also advises sellers that if they want to take advantage of sales opportunities at major global events, they should plan ahead of time by decorating online booths and interacting with customers early to gauge their reaction. and thus optimize the product according to regional tastes.
According to Amazon Global Selling, nearly 7.2 million Vietnamese SMEs’ products were sold to Amazon customers worldwide in the last year, resulting in a 34% increase over the same period last year. Amazon predicts that cross-border e-commerce revenue in Vietnam will reach $11 billion by 2026.
Mr. Seong stated at The Next Power that by 2022, the number of sellers on Amazon will have tripled. These figures are the result of internal innovation at multinational e-commerce platforms such as Amazon.
The Amazon Global Selling Vietnam team was formed in the last 2-3 years, with the initial goal of localizing the language and improving the experience of Vietnamese sellers on Amazon by identifying their “pain points.”
Amazon’s central and long-term mission in Vietnam, according to the Head of AGS, is to raise awareness and train sellers on cross-border business. Amazon not only conducts interactive online activities on social networks, but also creates hundreds of Vietnamese courses in the form of small-themed video modules to help sellers improve their skills.
Last June, Amazon Global Selling Vietnam announced the initiative “Cross-border E-commerce: A Breakthrough Era” in collaboration with the Department of E-commerce and Digital Economy (Ministry of Industry and Trade), demonstrating its commitment to developing human resources for cross-border e-commerce in Vietnam over the next five years and expanding export opportunities for businesses.
According to Gijae Seong, Head of Amazon Global Selling Vietnam, cross-border e-commerce will be the door that opens up many opportunities for many brands to position their names in the international market.