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Vietnam Briefings 2020: Telecom giants Viettel and Mobifone receive 5G test licenses

Last updated on January 4th, 2021 at 11:09 pm

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.