Officials of Lang Son’s Market Watch check goods’ origin. The National Steering Committee 389 would continue to hand out strict punishments for violations of trade fraud and fake goods. — Photo dantri.com.vn E-commerce is a potential goldmine for businesses over the next two years with a potential reach of US$10 billion. But it also offers opportunities for counterfeit and smuggled goods, a conference in the north-eastern province of Quang Ninh was warned on Monday. With the development of the Fourth Industrial Revolution and digital age, e-commerce has created a new playground for businesses to develop. In addition more and more domestic firms are providing e-commerce services. Statista Market Research Company says e-commerce revenue in Viet Nam reached $2.26 billion last year, 30 per cent up from 2017. Viet Nam ranked 6th among the top 10 biggest e-commerce countries in the world after China, the US, UK, Japan and Germany. The growth rate this year is expected to be 35 per cent. But the success comes at a price. “In addition to positive development, there has been trade fraud, counterfeit goods and violations of intellectual property rights,” said Dang Hoang An, deputy minister of Industry and Trade. “This is a challenge… Read full this story
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