Logo of Phnom Penh Post newspaper Phnom Penh Post - First-ever ASEAN online sale day kicks off, SMEs in limelight

First-ever ASEAN online sale day kicks off, SMEs in limelight

First-ever ASEAN online sale day kicks off, SMEs in limelight

The first-ever ASEAN Online Sale Day (AOSD) was launched on Saturday at aseanonlinesaleday.com, gathering some 150 regional firms who offer goods and services at promotional prices.

Initiated by Vietnam as chair of ASEAN this year, the event marks the founding anniversary of the bloc (August 8) and aims to promote cross-border e-commerce within the grouping, Vietnam’s Ministry of Industry and Trade’s Department of E-Commerce and Digital Economy.

This is a good chance for businesses from ASEAN member countries to introduce their products and increase sales through e-commerce amidst the Covid-19 pandemic.

This is also an opportunity for consumers in ASEAN to experience online shopping in an open, safe and quality market under the supervision of governments.

Experts have predicted that ASEAN’s e-commerce sector will triple its scale to $300 billion in 2025.

In the context of the pandemic, e-commerce is a bright spot of growth as more consumers and businesses are switching to online transactions.

The AOSD aims to encourage the trend and increase interaction between consumers and businesses for more transactions in a safe manner, while assisting efforts of member countries to create optimal conditions for trade and e-commerce, and increase the digital integration as well as the confidence of ASEAN businesses, including small and medium-sized enterprises (SMEs).

According to a survey by Bain&Company in 2017, ASEAN’s digital economy will make up 8.5 per cent of regional gross domestic product (GDP) in 2025, much higher than 1.3 per cent in 2015.

AOSD will be held annually on August 8 as a chance to promote digital trade in the region and strengthen cooperation among relevant parties, including the partnership between state agencies, businesses and consumers.

VIET NAM NEWS/ASIA NEWS NETWORK

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