, Vietnam
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Vietnam tops SEA in e-commerce growth confidence despite regulatory hurdles

Vietnam ranks high in logistics, platform strength, and innovation.

Vietnam’s e-commerce sector is showing the strongest growth optimism in Southeast Asia, even as it faces some of the region’s toughest regulatory challenges, according to a new report by Blackbox Research titled “The Next Leap for E-Commerce in Southeast Asia.”

The report found that 69% of experts believe new tax rules, particularly those involving Value-Added Tax (VAT) withholding, have created short-term operational difficulties for smaller online sellers.

However, 85% of respondents remain confident in Vietnam’s long-term e-commerce prospects, citing the country’s entrepreneurial dynamism, robust logistics networks, and adaptive digital businesses as key strengths.

Experts rate Vietnam more competitive than its regional peers in several areas that drive digital growth, including logistics and fulfilment infrastructure (84%), platform competitiveness (77%), and buyer experience innovation (70%).

Despite these strong fundamentals, only 39% view Vietnam’s regulatory framework as competitive, reflecting the gap between rapid business innovation and slow policy adaptation.

Whilst new compliance requirements have caused short-term disruption, experts believe these measures could ultimately improve transparency and establish a more stable foundation for cross-border trade—especially if paired with continued capacity-building initiatives to help micro, small, and medium enterprises (MSMEs) adapt effectively.

Vietnam’s challenges also mirror broader regional issues. Across Southeast Asia, 48% of experts cite regulatory fragmentation—characterised by inconsistent and overlapping policies—as the biggest barrier to e-commerce growth.

This is followed by high logistics costs (37%), limited MSME resources and digital capabilities (28%), and low consumer trust (17%).

In Vietnam, these pressures are particularly visible. Around 80% of the country’s e-commerce revenue comes from Hanoi and Ho Chi Minh City, underscoring a significant urban–rural divide.

Inconsistent customs and tax rules create friction for small businesses trying to expand regionally, whilst frequent policy changes contribute to ongoing uncertainty.

The report identifies five key areas that could unlock Vietnam’s next stage of digital growth.

Experts urged greater platform investment to evolve e-commerce marketplaces into ecosystem builders that connect sellers to logistics, payments, and compliance systems.

They also cited the need for service innovation, particularly through artificial intelligence, to enhance fulfilment, inventory management, and customer service, helping smaller sellers compete more effectively.

Stronger collaboration between government, platforms, and MSMEs is another priority. Over half of experts surveyed said joint investment in logistics, digital payments, and SME capability-building is essential to sustaining growth.

Additionally, improving logistics infrastructure—through expanded last-mile delivery networks and inter-provincial fulfilment capacity—would also help lower costs and improve nationwide inclusion.

Moreover, experts highlight the importance of smarter and more agile regulation. Simplifying tax and customs procedures, piloting regulatory sandboxes, and promoting evidence-based policymaking can help Vietnam balance innovation with fairness and trust.

The report said that Vietnam’s e-commerce ecosystem stands at a critical turning point. If regulators can align reforms with the innovative momentum of local sellers, the country could become a model for ASEAN’s digital integration, where agility, trust, and inclusivity converge.
 

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