Alibaba Announces Plans to Increase Investment in Vietnam

Alibaba Announces Plans to Increase Investment in Vietnam, the global B2B e-commerce platform of Chinese tech giant Alibaba, has announced its plan to double its investment in emerging manufacturing centers in Vietnam. In addition, they will be hiring hundreds of employees to support their operations. Roger Luo, director of Alibaba in Asia-Pacific, shared this news during an event in Ho Chi Minh City.

Vietnam holds significant importance in Alibaba’s e-commerce development strategy, according to Luo. He highlighted three advantages of the Vietnamese market. Firstly, Vietnam benefits from favorable foreign trade policies and multiple free trade agreements, giving Vietnamese-made goods a competitive edge. Unlike Chinese goods, Vietnamese goods remain unaffected by the ongoing U.S.-China trade war. Secondly, labor costs in Vietnam are still relatively low. Lastly, Vietnam offers a diverse range of specialty products.

Luo emphasized that Vietnamese suppliers on Alibaba’s platform are gaining recognition among global buyers, particularly in sectors such as agriculture, food, fashion, and home garden products. The number of Vietnamese sellers on Alibaba’s platform has increased significantly, and the availability of Vietnamese products on the platform has seen a 24% surge in March compared to the same period last year.

Although Vietnam’s export turnovers experienced a 12% decline in the first half of this year, Luo expressed optimism for the second half due to decreasing inventory levels in the U.S. He urged small and medium-sized businesses to seize this opportunity by revitalizing their human resources and enhancing their digital capabilities.

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