HANOI, June 16 (Xinhua) -- Vietnam's e-commerce revenues are projected to surge to 10 billion U.S. dollars in 2020, accounting for 5 percent of its total retail sales, from 4 billion U.S. dollars in 2016, according to the Vietnamese Ministry of Industry and Trade.
The country's e-commerce is recording an annual growth rate of 35 percent, one of the fastest rates in the world, Vietnam News Agency on Friday quoted experts as saying.
The experts said multichannel retail will surge, as many domestic and foreign retail companies continue to invest big in this field.
Vietnamese corporation MWG made online retail revenues of 148 million U.S. dollars in 2016, a year-on-year surge of 104 percent. After being successful offline, local firm Vinamilk opened an online retail channel late last year to sell dairy products.
