Developing for an online business in Vietnam Research Proposal

Developing for an online business in Vietnam - Research Proposal Example The online hosting makes it possible for one to establish a business, look for customers and make deals over the Internet. The integration of ICT into commercial applications has greatly changed the business sector. One can now engage in business activities with foreign countries, yet at the convenience of his / her office. Establishing, meeting and transacting business deals have now revolutionised (Phan, 2003, pp. 581–582). However, there are business ethics, conduct and regulations that must apply even to the online business dealings. As one intends to venture into this kind of trade, specific procedures are bound to apply. This ensures sanity, law and order in the execution of various business activities. Innovations in technology have not been exhaustively explored, and thus, there exist great opportunities for exploitation in business. Therefore, in the analysis of the untapped business opportunities through online trading, this business research intends to learn more of the e-business prospects existing in the country and analyse the regulations of the country and the future trends for business operations. Rationale / Thesis Trade has certainly been seen as a key pillar of any government and country’s growth and development. Exploitation of many forms of businesses is commendable in order to diversify and reduce risks of overreliance on certain sectors of the economy. Online business has been seen to thrive well in many parts of the world with the returns being enormous. However, in some regions, the field remains unexplored or underexplored. The emerging world trade trends indicate that the success of trading activities in the future may rely much on the Internet for activities such as marketing, meeting clients, striking deals and sealing up business transactions. It is thus important that the government and the people of Vietnam explore the untapped field of doing business over cyber space. Justification Many of the previous studies in t rade have concentrated more on the other modes of doing business and neglected the evolutionary trend of online business. Vietnam has in the recent past recorded commendable economic growth. Many countries, and especially the Western economies, are continuously directing their investments in trade into Vietnam. It is, therefore, of sound importance for researches to be done in order to have substantive information in this field, which would help investors in the decision making process. By having proper information on the trends taking shape in Vietnam in terms of trade, all stakeholders in the economy would be in a better position to make informed decisions as pertains to trade and business. Objectives To evaluate the effects of e-trading on the overall trade performance of Vietnam To draw policy recommendations for stakeholders in trade and development agencies Questions 1. How far has the online trade been exploited in Vietnam? 2. Who are the dominant investors in the sector: the Vietnamese or foreigners? 3. What are the other opportunities available for exploitation in terms of trade in Vietnam? 4. How are trade regulations formulated and enforced in the country and what is the role of the private sector and public sector in this? Hypothesis This research will be based on three hypotheses. These hypotheses are based on a generalisation of ideas, which will need to be substantiated by research. 1. Hypothesis: If economic performance of any economy is related to trade, then e-commerce is of importance towards