Chinese online retail platform Temu submits papers for Vietnam operations
Chinese online retail platform Temu has submitted a document to Vietnamese authorities for registering its Vietnam operations.
The document was submitted Thursday to the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade.
Under Vietnamese law, cross-border online retail platforms that have Vietnamese domain names, display Vietnamese language, or conduct over 100,000 transactions annually from Vietnam are required to register their operations with the trade ministry.
The Department of E-commerce and Digital Economy has confirmed that Temu is a cross-border e-commerce platform displaying Vietnamese language and as such, is required to register its operations with Vietnamese authorities.
Temu e-commerce platform. Photo courtesy of the government's news portal.
Temu is owned by China's PDD Holdings, the parent company of the Pinduoduo e-commerce site, which specializes in low-cost goods.
Although Temu has not been officially launched in Vietnam, users have been able to access app stores on their phones to download the app, make purchases and pay using the Vietnamese version of the platform.
With a low-cost strategy, Temu attracts users with its "Shop Like a Billionaire" tagline.
However, experts have warned that the low-cost products could exert significant competitive pressure on domestic goods.
The department has proposed to Prime Minister Pham Minh Chinh a program to enhance state management of e-commerce, including the development of a specialized e-commerce law.
The trade ministry has directed its functional units, including the General Department of Market Management and the General Department of Customs, to collaborate on strengthening supervision and control of goods and products traded on cross-border platforms.
The National Competition Commission has been tasked with protecting consumer rights in cyberspace, disseminating timely information to consumers, and raising awareness about potential risks associated with purchasing goods from cross-border e-commerce platforms.
The commission will also work with the Ministry of Information and Communications to implement appropriate technical measures to prevent violations.
Additionally, a draft prepared by the trade ministry for the Prime Minister urges the Ministry of Finance to explore plans for monitoring and managing imported goods circulating through e-commerce platforms that do not comply with Vietnamese laws.
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