Vietnam: Government approves plan to reduce cash use

• Aug 16, 2016

Vietnam: Government approves plan to reduce cash use

Tuesday, 16 August 2016 – The Government has approved an e-commerce development plan for 2016-20 that targets 50 per cent of consumers switching from cash to other forms of payment.

The target has been set after factoring in the rapid increase in online shopping and electronic banking.

However, the plan acknowledges the need to significantly improve network security to convince residents to switch from cash.

E-commerce turnover $10b by 2020

The Government has set targets of 30 per cent of the population shopping online and spending US$350 a year each and Read More?