Temu is completing procedures to register its operations in Vietnam

According to this agency’s data, Vietnamese e-commerce has an average growth rate of 25% a year. More than 61 million Vietnamese people shop online and the average purchase value per person is about 336 USD. “This data shows that Vietnam is becoming a potential country for investors, especially cross-border e-commerce,” the Department representative stated.

However, managing cross-border e-commerce is a challenge for Vietnam and many countries in the context of globalization. The management agency said that the Ministry of Industry and Trade and the Ministry of Finance proposed that the Government soon issue a Decree on customs management of import and export activities via e-commerce, to have a mechanism to separate normal and online, increasing management of foreign sellers through this channel.

They also proposed that the Government submit to the National Assembly to amend the Value Added Tax (VAT) Law so that products sold on digital platforms do not enjoy 0% tax, to prevent loss of revenue and fraud in VAT refunds.