01 Mar 2021
Vietnamese edtech startup Manabie which aims to offer Japanese education to Vietnam has raised USD 3 million in seed funding from a group of investors including Do Ventures, Genesia Ventures, and Chiba Dojo. The funds will be used for product development and strengthen its school presence in Vietnam.
Vietnam to begin construction of largest airport
04 Jan 2021
Vietnam is set to begin construction of the first phase of what will become its largest airport near the country’s economic hub of Ho Chi Minh City on Tuesday (05 January 2021). The first phase of the Long Thanh airport in the Don Nai province will cost USd 4.66 billion and is slated to begin operations in 2025, according to the Vietnamese government. The airport will include a 4 kilometer runway, a terminal and related facilities, capable of serving 25 million passengers and handling 1.2 million tons of cargo annually.
04 Nov 2020
Vietnam has granted telecom giants Viettel (Vietnam’s state owned telecom market leader), and Mobifone trial licenses to “commercially test” 5G in Ho Chi Minh City and Hanoi, the country’s two biggest cities.
Asia’s largest warehouse builder GLP launches in Vietnam with three warehouse projects
15 Oct 2020
Singaporean real estate company GLP has set up a joint venture with SEA Logistics Partners – a Ho Chi Minh City-based startup co-founded by GLP’s former China president Kent Yang – to invest in and develop logistics properties in Vietnam. The new joint venture has already secured sites in both northern and southern Vietnam.
Social Bella, Indonesia-based beauty tech startup to expand into Vietnam
15 Oct 2020
Indonesia-based beauty-tech startup – Social Bella – is set to expand into its first international market – Vietnam – through its e-commerce platform Sociolla. Social Bella is aiming to profit from Vietnam’s fast-growing online beauty and personal care market which the company says grew 80%, citing a report by Cosmetics Design Asia. “As one of the fastest-growing markets for beauty and personal care in Southeast Asia, with a young and highly digitalized population, Vietnam shares many similarities with Indonesia,” said Christopher Madiam, co-founder and president at Social Bella.
AppotaPay acquires payment intermediary license
13 Oct 2020
Vietnamese game publisher Appota Group’s fintech arm AppotaPay, became the largest fintech player to acquire a payment intermediary license from the State Bank of Vietnam (SBV), according to an announcement. AppotaPay joins 38 other other licensed e-wallet players. Founded in 2015, AppotaPay claims to have 55 million users.
Vietnam B2C e-commerce revenue rises 25% YoY in 2019
24 Aug 2020
Vietnam’s B2C e-commerce revenues rose 25% YoY to USD 10.08 billion in 2019, according to the e-Commerce White Book 2020 released by the Ministry of Industry and Trade (MoIT)’s e-Commerce and Digital Economy Agency (iDEA). The number of online shoppers reached 44.8 million in 2019, a 1.12% YoY growth from 2018 when the number of online shoppers stood at 39.9 million. Average online shopping spend rose to USD 225 per person, up USD 23 from 2018.