Telio, the first business-to-business (B2B) e-commerce platform in Vietnam, has received funding of 22.5 million USD from Vietnamese tech unicorn VNG, raising total investment that it had attracted as of September 2021 to 51 million USD.
Hanoi (VNA) – Telio, the first business-to-business (B2B) e-commerce platform in Vietnam, has received funding of 22.5 million USD from Vietnamese tech unicorn VNG, raising total investment that it had attracted as of September 2021 to 51 million USD.
One week ago, domestic e-commerce platform Tiki also mobilised 258 million USD in a funding round led by AIA Insurance Inc. The new investment could help the platform shorten its plan to organize an IPO (initial public offering) in the US, which is initially scheduled for 2025.
At the same time, Alibaba, after pouring more than 4 billion USD into Ladaza, shook hands with Baring Private Equity Asia (BPEA) to invest 400 million USD in The CrownX of Masan Group. The deal is expected to help Masan complete its online business in Vietnam.
E-commerce has emerged as a growth pillar for the digital economy of Southeast Asian countries, including Vietnam. This year, the digital economy of Vietnam is forecast to grow 31 percent to 21 billion USD thanks to a year-on-year rise of 53 percent in e-commerce, and is predicted to hit 57 billion USD in 2025.
Mitch Bitterman, Executive Vice President for E-commerce in Asia of TMX Global said that Vietnam is the third largest e-commerce market in Southeast Asia after Indonesia and Thailand. This development trend is expected to continue when the country pushes forward with its national digital transformation project, which is supported by its young population and expanding online shopping habit, he held.
Vietnam's e-commerce market has continuously received huge investment. Major players of Shopee, Ladaza, Tiki and Sendo have been pumped with capital to expand market share and business scale. At the same time, multinational firms such as Grab, Gojek and Amazon have also shown interest in the promising market.
Meanwhile, Vietnamese giants such as Masan, Vingroup, Viettel and The gioi Di dong have also switched their focus onto e-commerce.
Industry insiders held that more merge and acquisition (M&A) deals will take place in the time to come, making the Vietnamese market more attractive but with fiercer competition./.
The Government has issued Decree No.85/2021/ND-CP amending and supplementing several articles of Decree No.52/2013/ND-CP on e-commerce involving foreign traders.
Though e-commerce channels are considered one of the best solutions to sell local products amid the pandemic, legal risks from the activities remain a concern.
Vietnamese e-commerce market is forecast to continue growing in the post-pandemic period, with revenue surpassing last year's figure, according to experts.
Vietnam posted 18.3 percentage points in the Business Climate Index (BCI) in the third quarter of 2021 that was recently announced by the European Chamber of Commerce in Vietnam (EuroCham), a slight rise over the record low of 15 percentage points recorded in the most difficult time of the fourth wave of COVID-19 infections in September.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustrative image (Source: businessinsider.com) 
