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PM hopes Alibaba will support local startups

Released at: 17:29, 07/11/2017

PM hopes Alibaba will support local startups

Photo: VGP

Prime Minister meets with Alibaba Chairman Mr. Jack Ma in Hanoi on November 6.

by Quynh Nguyen

Vietnam hopes that Alibaba will help establish an ecosystem for Vietnamese farmers and small and medium-sized enterprises (SMEs) to export their goods to the world, Prime Minister Nguyen Xuan Phuc said at a meeting on November 6 with Mr. Jack Ma, Chairman of Chinese e-commerce giant Alibaba.

He also stressed that Vietnam hopes Mr. Ma will support Vietnam’s startups and investing in startup funds.

This is Mr. Ma’s second visit to Vietnam, following his first in 2006, when he also attended the APEC meetings. 

Vietnam has developed rapidly over the last ten years, he believes. “After two days in Hanoi, I recognize that Vietnam has great potential to develop e-commerce and science and technology,” he said, adding that young Vietnamese are full of vitality and this is Vietnam’s strength in active integration.

The billionaire also expressed an interest in a decision from the Prime Minister on the development of e-commerce in the 2016-2020 period, with goals including 30 per cent of the population conducting online shopping and spending an average of $350 each year.

“These are challenging targets,” Mr. Ma said. “It is necessary to promote non-cash payments to achieve this goal. This also cuts transaction costs for businesses and reduces corruption.”

With a large and young population, Vietnam will face a major problem in job creation over the next five to ten years. The best solution, Mr. Ma believes, is to develop e-commerce. Along with that, Vietnam needs to promote logistics, goods transportation, customs reform, trade verification, e-commerce development, and B2C (business to consumer) activities.

He said that Alibaba hopes to support Vietnam in promoting e-commerce development and online payment methods. During his visit, Alibaba officials will sign an agreement on e-commerce and science and technology with Vietnam.

Welcoming the support of Alibaba, the Prime Minister said that its presence in Vietnam is a good sign for the development of e-commerce. He has assigned departments to work with Alibaba in realizing opportunities for cooperation.

He also asked Mr. Ma to support the construction of the Vietnam booth on Alibaba’s e-commerce application and support training for SMEs on the application of e-commerce models.  

Mr. Ma also addressed the Vietnam E-Payment Forum 2017 on November 6. Speaking with Mr. Truong Gia Binh, Chairman of Vietnam’s leading technology firm, FPT, he spoke of his experience in e-ecommerce and mobile payments and the lessons from China that can be applied in Vietnam.

Now in its third year, the annual Vietnam E-Payment Forum (VEPF), co-hosted by VnExpress and the National Payment Corporation of Vietnam, provides an opportunity for the government, experts, and businesses to sit down together and discuss the latest trends in e-payment services and the best ways to apply them in Vietnam.

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