The number of Vietnamese using ride-hailing services has increased rapidly in recent years, signaling the potential for the development of the sharing economy in the country.

Ride hailing has become increasingly popular in Viet Nam thanks to its convenience and attractive promotions. (Source: baodautu.vn)

According to the e-Commerce White Book which the Ministry of Industry and Trade published recently, the percentage of surveyed participants booking a ride via ride-haling platforms on their mobile devices rose to 83 percent in 2019 from 45 percent a year ago.

Respondents said that ride-haling services were fast, convenient and safe as drivers’ information was clear while there were a lot of promotions which made the fees reasonable.

The survey also found that a majority of Vietnamese had demand for participating in sharing economy business models.

Statistics showed 69 percent had demand for sharing or leasing their idle assets, up from 56 percent in 2018. In addition, 55 percent had demand for using or borrowing idle assets.

The percentage of respondents who said that did not know about sharing economy models fell from 20 percent in 2018 to 11 percent for those having demand for leasing and 18 percent for those having demand for borrowing underused assets.

The book also highlighted the rapid development of e-commerce in Viet Nam.

The country’s business-to-consumer e-commerce revenue rose by 25 percent to 10.08 billion USD in 2019.

The number of online shoppers grew about 1.12 percent year-on-year to 44.8 million people last year from 39.9 million people in the previous year. Average spending for online shopping was 225 USD per person, 23 USD higher than in 2018.

The book provides readers with an overall picture of Viet Nam’s e-commerce industry from legal environment, logistics infrastructure, payment to use of e-commerce among businesses, exporters and people.

Viet Nam has set a target that the e-commerce industry would grow by 25 percent per year to 35 billion USD with more than half of the population shopping online by the end of 2025.

According to the e-Commerce White Book 2019, e-commerce revenue jumped 30 percent from 6.2 billion USD in 2017 to 8.06 billion USD in 2018.

The size of the local e-commerce market was expected to reach 13 billion USD this year.

Source: VNA