Vietnam Has Huge Potential for E-Commerce: Jack Ma

Tuan Minh

15:28 06/11/2017

BizLIVE - The Chinese billionaire will talk with Vietnamese young people to inspire entrepreneurship.

Vietnam Has Huge Potential for E-Commerce: Jack Ma

PM Nguyen Xuan Phuc shakes hands with Jack Ma at a meeting in Hanoi on Nov. 6. Photo: Quang Hieu/VGP

Vietnam seems to have huge potential for the development of e-commerce and science-technology, said Alibaba Chairman Jack Ma told Vietnamese Prime Minister Nguyen Xuan Phuc at a meeting in Hanoi on Monday morning.
“I was so eager to come to Vietnam this time,” the chairman of the Chinese e-commerce giant said.
Jack Ma showed interest in the Vietnamese government’s e-commerce development master plan, under which it aims to get 30% of the population involved in online shopping, with an average annual transaction value of $350 per capita.
He suggested Vietnam encourage cashless payments, logistics, reshuffle the customs system, boost cross-border e-commerce and B2C commerce.
The Chinese billionaire affirmed that Alibaba wants to support Vietnam in boosting e-commerce and online payment methods. The Chinese firm will sign deals to aid Vietnam in e-commerce and science-technology during Jack Ma’s trip.
Expressing his delight to receive Jack Ma in Vietnam, Prime Minister Phuc asked Jack Ma to help Vietnam establish a store on Alibaba’s e-commerce app and provide technical assistance to Vietnam’s medium-, small- and micro-sized enterprises.
“Vietnam very much wants Alibaba’s help to set up an ecosystem that enables Vietnamese farmers and merchandisers to export their farm produce to the world,” the prime minister said.
Vietnam expects Jack Ma to support Vietnam’s startup movement as well as invest in funds for startups, Prime Minister Phuc added.
This is the second time Jack Ma has come to Vietnam, with the first taking place in 2006 when Vietnam hosted the APEC summit for the first time. Ma and the Vietnamese prime minister met at the World Economic Forum in Switzerland earlier this year.
Jack Ma on Monday morning attended the Vietnam E-Payment Forum and is slated to give a speech to 3,000 Vietnamese students in Hanoi later in the afternoon to inspire entrepreneurship and startup spirit.
The following day, he will join world leaders at the Asia Pacific Economic Cooperation (APEC) Summit in Da Nang.

TUAN MINH

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