GLOBAL E-COMMERCE NEWSLETTER: ISSUE 09

1. Vietnam's Rising Role in the Supply Chain Recognized by Amazon Vice President

During the 亚马逊 2023 cross-border e-commerce conference on October 19th, Mr. Eric Broussard , Vice President of 亚马逊 Group, highlighted Vietnam's growing significance in the global supply chain for e-commerce. He emphasized that Vietnam, as a burgeoning manufacturing hub in Asia and the world, boasts a robust product supply capacity, allowing for diversification of goods. Notably, the country's strong entrepreneurial spirit is poised to enhance its role within the global e-commerce supply chain (VnExpress, 2023).

2. 阿里巴巴 to Feature an Exclusive Pavilion for Vietnamese National Products

At the Industry and Trade Magazine discussion held on October 19, 2023, it was revealed that the Department of Trade Promotion is currently collaborating with Alibaba.com to establish a Vietnam Pavilion on their e-commerce platform. The initiative aims to select 100 outstanding businesses involved in cross-border e-commerce based on specific criteria groups to feature within the Vietnam National Pavilion on Alibaba.com . This endeavor presents a significant opportunity to promote Vietnamese brands and enhance international consumers' perception of the quality of products from Vietnamese businesses. Ultimately, it seeks to facilitate trade between international buyers and sellers in Vietnam through the global market (PLVN, 2023).

3. Over $80 Billion in Imports and Exports Recorded in Vietnam-U.S. Trade

The total import-export turnover between Vietnam and the United States surpassed $80 billion in the first nine months of 2023. Exports between the two nations reached $70.23 billion during this period, exhibiting a decline of approximately $15 billion compared to the previous year's figure of $85.2 billion. By the end of September 2023, imports from the United States amounted to $10.26 billion, reflecting a decrease of roughly $900 million compared to the same period last year. Among the leading export categories to the United States are machinery, equipment, tools, and spare parts, totaling $12.5 billion, followed by computers, electronic products, and components at $11.82 billion, and textile and garment exports exceeding $11 billion (Khuê, 2023).

4. Elon Musk's Social Network X Trials $1 Annual Fee for New Users

Elon Musk recently initiated a test offering new users the option to access the social network X for a nominal fee of $1 per year. This trial, which commenced on October 17th, is currently underway in New Zealand and the Philippines. The rationale behind this move is to curtail the prevalence of bots and spam messages on the platform. X emphasizes that this test is intended to bolster their ongoing efforts to combat spam, platform manipulation, and bot activity while maintaining accessibility through a modest fee. The company clarifies that it is not primarily motivated by profit in implementing this measure (Taylor, 2023).

5. Alibaba Expands Presence in Southeast Asia Through Jack Ma's Trade Initiative with Cambodia

In a recent development, Cambodia has joined Alibaba's Southeast Asia expansion plan by signing the Electronic World Trade Platform (eWTP) agreement. This significant agreement was formalized during the "Belt and Road" Forum held in Beijing last week, with participation from the Cambodian Ministry of Commerce and Alibaba Group. The agreement's overarching goal is to foster collaboration across various domains, including e-commerce, cloud computing, digital human resources, and tourism. Pertaining to e-commerce, the collaboration entails the opening of 15 stores for Cambodian sellers on the Alibaba.com e-commerce platform, granting them access to potential customers in over 200 countries (South China Morning Post, 2023).