Delivery services to grow 30-40 percent in 2020

Update: 12:16 | 21/01/2020

The logistics sector is forecast to continue growing strongly this year, with expansion in both retail and e-commerce channels.

The Vietnam E-commerce and Digital Economy Agency (IDEA) forecasts that the Vietnamese e-commerce market will reach 10 billion USD this year.

The agency also estimated that delivery services would record a revenue growth of 30-40 percent, with the market growing 20 percent and large companies taking a bigger share.

Delivery services, logistics sector, e-commerce channels, Digital Economy, delivery services, e-payment services

The Vietnam E-commerce and Digital Economy Agency (IDEA) forecasts that the Vietnamese e-commerce market will reach 10 billion USD this year.

In a Google-Temasek report on e-commerce in ASEAN countries, the Vietnamese e-commerce market is estimated to increase from 4.6 billion USD last year to 23 billion USD by 2025.

The strong growth of e-commerce is beneficial for other supporting industries, such as logistics and e-payment services.

However, the competition in the delivery industry is high as new competitors entered the market in the 2018-19 period, such as Grab Express.

The European Union − Vietnam Free Trade Agreement (EVFTA) is expected to take effect from the second half of this year. FDI capital is expected to continue creating demand for business-to-business (B2B) transport and seaport services. E-commerce growth will increase the business-to-customer (B2C) and customer-to-customer (C2C) transport.

IDEA achievements in 2019 and tasks for 2020

Last week, the IDEA organised a meeting to summarise its work last year and deploy tasks for this year.

Assessing IDEA’s results in the past year, Deputy Minister of Industry and Trade Cao Quoc Hung emphasised that 2019 was a highlight and an important milestone for the agency as it successfully developed the general plan on national e-commerce development in the 2021-25 period and successfully organised the online shopping festival (Online Friday).

Reporting on the achieved results, IDEA Director Dang Hoang Hai said the agency had completed institutions and policies on e-commerce and the digital economy last year.

For the task of supervising and inspecting the implementation of the law on e-commerce and handling violations, the agency received 1,850 responses and handled nearly 1,570 on the e-commerce activity management portal last year.

Notably, the Ministry of Industry and Trade successfully organised 2019 Online Friday to strongly promote the development of e-commerce and the digital economy in Vietnam, contributing to the development of the economy under the Government's orientation on promoting technology and seizing the opportunity of Industry 4.0.

The event attracted more than 11.9 million interactions across the system, 35,000 downloads of mobile applications, and 1.6 million QR code scans.

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Source: VNA

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