Abstract
Over the past time, the dramatic growth of e-commerce has made Vietnam as one of the most potential markets in ASEAN. Vietnamese businesses as well as consumers are facing great opportunities from the industrial revolution 4.0. However, in addition to those significant developments, e-commerce in Vietnam also faces many challenges and barriers. Therefore, this research gives an overview of the current situation of e-commerce development and recommendations based on the findings of significant effect generating from PESTLE issues to further development of the online trading platforms in Vietnam.
Highlights
According to the 2018 White Book of E-commerce, recently released by the Department of E-Commerce and Digital Economy, the Ministry of Industry and Trade, in 2018, the entire e-commerce industry of Vietnam reached $ 8.06 billion, up 30 percent compared to 2017, including goods and services
There is a lot of potential for development, e-commerce in Vietnam still has obstacles as well as challenges in the development process (Nguyen & Khoa, 2019)
The results have yielded the scales of Political factors (POL) (0.86), Economic factor (ECO) (0.88), Social Factor (SOC) (0.79), Technological factor (TECH) (0.85), Environmental factor (EVN) (0.77), and LEL (0.84)
Summary
Vietnam is currently considered as one of the potential e-commerce markets with the fastest growth in the world. E-commerce is a newly developed field in Vietnam. This is a very specific field, which is the combination of technology and market, which occurred parallelly in-between realistic and virtual factors, existing and digital entities. Completing policies and laws on e-commerce, building an ecosystem for e-commerce and digital economy is an important content that needs to be determined to orient e-commerce development in the near future (John, 2018). For e-commerce to develop in a healthy way, it is necessary to improve the legal environment through the enactment and enforcement of laws, as well as the governing commercial activities, adapting to international legal and practice on e-commerce transactions (Thu & Nhung, 2019)
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