The Asia Internet Coalition (“AIC”) submits comments to the Ministry of Finance (“MOF”) and the General Department of Customs (“GDC”) on Provisions on the management of cross-border e-commerce activities in customs operations (“Draft Decree”). We commend the MOF and GDC on formulating the Draft Decree, with an aim to stimulate the national digital economy and export promotion through e-commerce. Such industry level efforts and direction are critical, particularly at a time when cross-border trade has taken a centre stage in Vietnam’s export promotion strategy. We believe that this is a timely initiative as Vietnam multiplies its trade ties under the ambit of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP-11) and the European Union and Vietnam Free Trade Agreement (FTA). More importantly, as Vietnam leads the 2020 ASEAN Chairmanship, the country stands on a cusp of representing a model for good practices that promote the business environment not only among the ASEAN member states but globally. Vietnam’s Internet economy is booming, as it reaches for $12 billion in 2019 on a 38% annualised growth rate since 2015. With the Gross Merchandise Value (GMV) of its Internet economy set to account for over 5% of the country’s GDP in 2019, Vietnam is emerging as the most digital of all economies in the region. e-Commerce is a key driver behind the impressive numbers.
Word submission can be accessed HERE.