No. 7 & 7A,
Jalan Tiara, Tiara Square,
Taman Perindustrian Sime UEP,
47600 Subang Jaya,
Selangor, Malaysia.
+603-8023 9829
+603-8023 7089
Fictron Industrial Supplies Sdn Bhd
No. 7 & 7A,
Jalan Tiara, Tiara Square,
Taman Perindustrian Sime UEP,
47600 Subang Jaya,
Selangor, Malaysia.
No. 7 & 7A,
Jalan Tiara, Tiara Square,
Taman Perindustrian Sime UEP,
47600 Subang Jaya,
Selangor, Malaysia.
Fictron Industrial
Automation Pte Ltd
140 Paya Lebar Road, #03-01,
AZ @ Paya Lebar 409015,
Singapore.
+65 31388976
sg.sales@fictron.com
Automation Pte Ltd
140 Paya Lebar Road, #03-01,
AZ @ Paya Lebar 409015,
Singapore.
+65 31388976
sg.sales@fictron.com
Vietnam's Fado Plans To Go Global
05 Aug 2019
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Fado, the first Vietnam cross-border e-commerce platform, plans to help local SMEs go global. “Vietnam has so many quality products but local suppliers don’t have an official platform to sell them worldwide,” Fado CEO Pham Tan Dat, told Inside Retail Asia. “Our mission is to create a channel for local SMEs to reach global customers.” As Alibaba’s authorised global channel partner in Vietnam, Fado plans to help 260 million SMEs access 190 countries.
In 2017, 32 per cent of Vietnam SMEs partnered with foreign online partners. Last year, the rate was 98 per cent, among which two thirds were ‘extra-small businesses’. Founded in 2011, as a cross-border shipping company, Fado improved to turn into the first cross-border e-commerce platform in Vietnam in 2014.
Officially partnered with Amazon, Fado connects Amazon suppliers with Vietnamese shoppers on a single platform. “Our services are not only legal but also convenient to customers. They do not have to get anxious about how their purchases are shipped cross border. Customers enjoy our return policies if the products are not as described on websites.
Shoppers also can buy discounted products in real time, specifically during events like Amazon Prime Day, without subscribing to membership. The platform has partnered with Proship to deliver products within its home market.
Fado’s greatest challenge is how to calculate import tax for 4 billion products before customers purchase them, chiefly during sales. “Fado builds a product database using machine learning and AI including images and description so the system can recognise them and apply the right import-tax code. Our system also recognise products banned according to Vietnamese law,” Pham added.
Vietnam’s cross-border e-commerce market is expected to generate 30 per cent each year. According to Vu Ba Phu, head of Vietnam’s Trade Promotion Agency, the global market will extend to US$3300 billion in the next two years.