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Customs & Global Trade Alert | November 2024 | Intensified customs management for e-commerce transactions
This alert is to update the customs trends to administer the e-commerce emergence in Vietnam.
As per statistics, Vietnam has consistently positioned itself among the global top 10 countries with the highest e-commerce growth rates, achieving a total e-commerce revenue of approximately VND489,900 billion in 2023 and sustaining increasing growth this year.
While the remarkable growth adds complexity to cross-border customs management, the current regulatory frameworks lack specific provisions for e-commerce transactions. Customs procedures for e-commerce still rely on traditional transaction types such as postal, courier, road, or sea transport.
To address this issue, the General Department of Vietnam Customs is crafting a Government Decree focusing on managing customs for e-commerce activities, introducing three key updates as follows:
Establishing a coordination mechanism among competent government agencies overseeing e-commerce policies, product regulations, and payment systems
Integrating the specific function of e-commerce customs management into the National and ASEAN Single Window
Enhancing the application of information technology and applying risk management to entities involved in e-commerce transactions
The Decree has yet to be finalized due to the digital customs system project and customs sector’s meticulous review of policies and guidelines. This review aims to facilitate customs processes, stimulate goods delivery, ensure consumer protection, and support domestic production.