Establishing an E-commerce Business in Vietnam for Foreign Investors

Vietnam’s e-commerce market reached USD 20.5 billion in 2024 and is projected to exceed USD 40 billion by 2028 — the fastest-growing in Southeast Asia, with a CAGR above 20%, 78 million internet users and 65% smartphone penetration.

Legal: Foreign investors may own 100% of e-commerce businesses. E-commerce platforms must register with the Ministry of Industry and Trade. Importantly, Vietnamese user data must be stored in Vietnam under the Personal Data Protection Law (effective 1 January 2026).

Capital & timeline: Minimum capital of USD 30,000–100,000; establishment in 30–45 days. Integrate licensed payment gateways (VNPay, Momo, ZaloPay) and consider platforms such as TikTok Shop and Shopee before building a standalone marketplace.