An insider’s look at Vietnamese ecommerce from one of the sector’s pioneers

About four years ago, the Vietnamese government took a solid step to strengthen a major sector in the country: ecommerce.

It announced the creation of the Master Plan on National E–commerce Development, which outlined what the government wanted to achieve in the sector by 2025. This included objectives such as 55% of the population participating in online shopping and 50% of small- and medium-sized enterprises doing business on ecommerce platforms.

As such, it’s become abundantly clear that the country is willing to pump a significant amount of resources into ecommerce to fulfill this Master Plan, which should bode well for consumers and businesses that can capitalize on these developments.

Linh Tran Hai, CEO of Sendo / Photo credit: Sendo

At Tech in Asia’s upcoming Saigon Summit, Linh Tran Hai, CEO of ecommerce platform Sendo, will share how he’s scaling his startup and the golden opportunities that will crop up in the sector.

Ahead of the event, we had a one-on-one chat with him to learn more about his thoughts on Vietnam’s ecommerce scene.

The following interview has been edited for clarity and brevity.

How did you become a founder?

Sendo is actually my third startup. The first time I co-founded a company was in 2009.

After my tenure as the head of Lenovo Vietnam and Indochina, I realized that mobile phone screens were getting larger while laptop screens were getting smaller. My bet was that the two devices would “collide,” and that smartphones would probably emerge the winner. So my co-founder and I quit our respective jobs, and started one of Vietnam’s first non-game mobile app companies in 2009, when Nokia was still a dominant player in the market.

My subsequent startups were founded the same way – we spotted a new, irreversible trend in the market, and we went all in.

What are current opportunities for ecommerce in Vietnam?

We have seen the proliferation of marketplace ecommerce and social commerce during the last few years and it’s now mainstream in Vietnam. Nowadays, it’s much easier for a producer to start their own ecommerce service and sell directly to consumers. There’s also a growing number of well-recognized sellers who even sell products through their own mobile apps.

Photo credit: Sendo

Niche markets are emerging as well, such as groceries, furniture, and sport products. Ecommerce is now integrated seamlessly into other sectors too, like online travel agencies, insurance, and banking. With better support services like payments and logistics, the basket size for the ecommerce industry has been consistently growing.

How has your job changed since you first founded your company?

The job of the CEO remains the same. As the company evolves, the tasks and requirements change with it, but ultimately it is the CEO that is responsible for the most challenging questions that the company faces.

Above all, your team is always your most important asset. The goals will always change, but as long as you have a good team, you will eventually get there.

What advice do you want to give to aspiring entrepreneurs?

Be brave, be bold, and always be humble to learn.

What will you be speaking about at Tech in Asia’s Saigon Summit and why is it important?

I will share about Sendo’s journey going through the Covid-19 pandemic, and how the environment opened up an untapped opportunity for the company, leading us to create Sendo Farm. I hope that our story can help the audience understand a bit more about the Vietnamese startup community, and the vast opportunities available in this country.

Hear from Linh, as well as a host of other exciting speakers, at Tech in Asia’s upcoming Saigon Summit. Held on May 30 at GEM Center, Ho Chi Minh City, we’re bringing together some of Southeast Asia’s best and brightest to chart Vietnam’s tech future together.

We’re currently running a 5.5 flash sale on tickets to Saigon Summit, which will end on May 8, 11.59 p.m. SGT, or when all discounted passes are redeemed.  Get your tickets to Saigon Summit today.

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This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.