Vietnam’s Ministry of Trade has signed a partnership with Amazon to help Vietnamese merchants get on board the Amazon Global Selling network.

The pact entitles access to the e-commerce giant’s 300-million-strong customer base and helps Vietnamese businesses reach wholesale buyers throughout the US, Japan and Europe. It is Amazon’s first e-commerce operation in the territory.

“Vietnam has more than 700,000 businesses, 98 per cent of which are SMEs. Therefore, in addition to traditional trade promotion initiatives, developing e-commerce is critical,” said Vu Ba Phu, head of the ministry’s trade promotion agency.

Vietnam offers a huge manufacturing capacity and a thriving startup ecosystem, according to Amazon Global Selling Asia Pacific head Bernard Tay. In addition, a proposition from a Vietnamese construction firm to build a warehouse for Amazon in future remains an open possibility.