Vietnam targets 30% of population to shop online by 2020

The targets are part of the general plan for e-commerce development during the 2016-2020 period, which has been recently approved by the prime minister.

The government also aims for an average growth rate of 20% per year for business-to-customer transactions to reach US$10 billion by 2020, accounting for 5% of total retail and consumer service value.

Under the plan, business-to-business value is expected to make up 30% of total imports and exports in 2020.

Over the next five years, 70% of electricity, water and telecommunications service providers are expected to provide electronic payment options without the need for cash, and half of residents in major cities will complete their shopping transactions using non-cash payment methods.

To promote a cashless society, the government expects by 2020 all supermarkets, shopping centres and modern delivery facilities to be equipped with electronic points of sale.

The government also seeks to build a delivery network covering all cities and provinces throughout the country and tailor the legal framework to suit the development of e-commerce models.