Vietnam’s e-commerce market is projected to grow at a compound annual growth rate (CAGR) of 16.3% from US$9.4 billion last year to US$17.3 billion in 2023, data analytics company GlobalData forecast.
E-commerce platform Tiki’s losses have wiped out a total of VND506 billion ($22 million) gaming firm VNG had invested in it.
Game distributors in Vietnam are focusing on eSports, which has had impressive growth rates in both players and viewers in the country.
The Vietnam Digital Transformation Alliance was launched by the Vietnam Software & IT Services Association (VINASA) within the framework of the Vietnam ICT Summit 2019 in Hanoi on August 8.
The targeted companies include Samsung Vietnam, Grab, Sun Group, Yamaha, Shopee, VNG, Huawei Vietnam, among others.
The high rate of technology adoption in Vietnam presents vast opportunities for growth, according to Le Hong Minh, co-founder, chairman and CEO of technology company VNG Corporation.
Online sellers now are not fighting for profit but for market share, analysts say.
Vietnam is proving difficult terrain for e-commerce players, as they keep burning money to grab a slice of the lucrative market, which results in mounting losses and, for some, their eventual demise.
TH Group may one-up Vietjet and VNG by becoming the first Vietnamese firm to have its stock listed on an overseas stock exchange. However, the IPO is planned for 2020, which leaves a lot of space for action for the other firms.
Artificial intelligence (AI) is being used in Vietnam in apps used such as face-identification technology cameras, smartphone chatbots, self-propelling vehicles, and nano robots developed by FPT Group, Zalo Brain and Zalo Assistant by VNG.
LINE expects to make a comeback to Vietnam through its investment in webtretho.com.
Flush with fresh investments, e-commerce operators and delivery firms are ramping up expansion efforts to change the landscape of e-commerce logistics in Vietnam. However, there is still a need to bridge the gap between logistics and the fast-growing e-commerce community.
After Uber sold its Southeast Asian operations to Grab, the ride-hailing market is seeing an interesting phenomenon: insiders want out, while outsiders want in.
The Chinese JD Group has announced a plan to pour money into Tiki, a Vietnamese e-commerce website.
The vigorous growth of the internet and technology in Vietnam is expected to provide a platform to support the development of a digital economy.
After working with Vietnamese authorities, YouTube and Facebook have removed 3,000 clips and over 600 accounts deemed inappropriate or slanderous toward Vietnamese individuals and organisations.
Vietnam-based internet company VNG Corporation earned more than VND3 trillion in net revenue (US$133 million) and VND543.4 billion (US$23.9million) in after-tax profit last year, according to its 2016 financial report.
Prime Minister Nguyen Xuan Phuc has expressed his wish that with its prestige and influence, the Nasdaq Stock Market would further expand cooperation with and provide stronger assistance for Vietnamese enterprises, including the VNG Joint Stock Company, to list their shares on the US stock market.
Live Entertainment, Yan Media Group, and 123Go join forces in the fields of event organisation, communication, and ticket delivery.
Following Viettel’s and FPT’s success, several information and communications technology (ICT) enterprises have started “cultivating” foreign markets.