Tra Vinh province launches e-commerce website

NDO - Authorities of Tra Vinh province launched the Tra Vinh electronic trading platform on August 15 which can be found in the following link: http://travinhtrade.vn in a bid to boost trading activities. Nguyen Trung Hoang, Vice Chairman of Tra Vinh provincial People's Committee stated that the application of e-commerce aims to enhance the effectiveness of trade promotion activities in and outside the province. Hoang noted that the platform is an official and updated information exchange channel on goods and typical products of Tra Vinh province. Through the platform, Tra Vinh enterprises are able to promote their products, update market information, and seek market demand. Consumers will thus have a reliable address to choose quality products. Thus far, 15 enterprises with 50 typical products of Tra Vinh province have registered to participate in transactions on this platform. Tra Vinh electronic trading platform is directly managed by Tra Vinh's Department of Industry and Trade which allows local enterprises to register for free membership. According to Tran Quoc Tuan, Director of Tra Vinh's Department of Industry and Trade, Tra Vinh enterprises have not been enthusiastic with the new application of electronic trading. Tuan noted that only 250 out of 1,900 enterprises in Tra Vinh have websites, according to a recent survey conducted by the province's industry and trade sector. Meanwhile, the application of electronic trading is considered an effective tool for enterprises in big cities such as Ho Chi Minh City and Can Tho. He…... [read more]

Giving up a job as a technical official for a television company in HCM City, Tran Tue Man decided to provide a delivery service.  Man is optimistic about the new business after six months of operation. The business he set up has been recruiting new workers as the business is scaling up. “The fast delivery service market has become very competitive, but it is still a ‘blue ocean’ with great potential,” the founder of ‘Giao hang gia re’ (low-cost delivery) said. “Many online shops have arisen,” he explained, adding that the number of orders his business receives has increased by 30-50% a month. However, he said 30-50% is still a modest growth rate. “If my sale and marketing team expands, a 100-300% growth rate will be within reach,” he said. Man said his company plans to launch an app of its own in September. To compete with other delivery services, his company also is providing package services, such as marketing for online shops.  Man’s startup project is one of several delivery service firms which have been booming in the last three years.  Not only startups but big companies in some business fields have also decided to expand their business by joining the market.  As a result, the fast delivery service market, which only had 5-6 players in 2013, now has more than 50 businesses. GrabExpress of Grab taxi transport also provides goods delivery service at a very competitive fee…... [read more]

Despite the increasing number of outlets, the market share of mobile retailer The gioi Di dong, which belongs to Mobile World Investment Corporation (MWG), has stayed unchanged at 42 per cent, thus, MWG has to find ways to solve its growth problems. RELATED CONTENTS: Cambodia ops, grocery arm fail to meet MWG’s expectations Consumer electronics retail losing its appeal Thai investment fund buys MWG shares for $11m MWG 2017 growth prospects uncertain MWG plans foreign expansion Mobile World makes it into Top 50 again MWG make VND165 billion profit in two months MWG sets $1 billion revenue target for 2015 MobileWorld: the best working place in Vietnam MWG share price dives ahead of listing Mobile phone and consumer electronics outlets see no growth According to newswire VnExpress, MWG’s business report for the first half of 2017 revealed that the company’s revenue and after-tax profit were more than VND31.2 trillion ($1.4 billion) and VND1 trillion ($44 million), respectively, producing a growth of 59 and 28 per cent compared to the same period last year. Of the total, the revenue from online sales was nearly VND2.6 trillion ($114.4 million), nearly double of the corresponding period last year. This…... [read more]

They were voted by readers from a total of 95 websites selected by organisers comprising Nguoi Lao Dong (Labourer) newspaper, the Ministry of Industry and Trade, HCM City Department of Information and Communications, HCM City Department of Industry and Trade, the Young Entrepreneurs Association and HCM City television. The voters’ favourite site went to www.gnetmedia.net of Gnet Media Co Ltd., which received VND20 million. The winner for ‘the best potential site’ was www.gophatdat.com of Tien Phong JSC, which received the same amount. The prize for the most excellent website advertising business in 2008 was delivered to www.samsung.com.vn of Vina Samsung Co. Ltd., and awarded VND30 million. The best e-commerce website was www.daugia247.com of 247 Electronic Commerce JSC, which received VND30 million. Since the voting contest was launched 8 months ago, it had attracted 85 businesses with 95 websites and over 550,000 viewer votes. The contest aims to boost the development of internet-based business models, which is both low-cost and highly efficient for both businesses and consumers.... [read more]

A source from the company told news website VnExpress that it has sent a notice to its partners and will stop all business activities in Vietnam in the next five days, including shutting down the website foodpanda.vn. Food Panda, a subsidiary of German-owned Rocket Internet which manages a number of e-commerce brands in Vietnam such as Zalora, Lazada and Easy Taxi, opened an office in Ho Chi Minh City in 2012. It is now a popular food delivery service in 42 countries, including Singapore, Thailand, Malaysia and Indonesia in Southeast Asia. Food Panda said in a new statement that it will close its Vietnamese website in several days In Vietnam, the company has to face a tough competition against local rivals such as Vietnammm and Eat.vn. The company’s representative said the decision came after Rocket Internet reevaluated its operations in several countries, including Vietnam. “We have assessed that Vietnam is a potential market with good growth. But our current strategy is to focus on markets that are making profits. If we maintain the business in Vietnam, we have to invest more,” the source said, adding that there’s still a chance the service will return after a few years. Market for deep pockets Beyeu.com, a Vietnamese e-commerce website selling babies’ foods and accessories, last month also announced to put an end to its two-year business. It posted a notice saying that “E-commerce requires lots of money. Many companies will decide to stop burning. Good luck to the rest who are still…... [read more]

VietNamNet Bridge - Vietnamese startups became better known worldwide in 2016 and are expected to shine even more brightly in 2017. Startup community in tumult because of Criminal Code One of the most controversial issues among technology startups in 2016 was Article 292 of the 2015 Criminal Code on illegal provision of services on computer and telecommunication networks. The article said individuals and institutions providing services without licenses will be fined up to hundreds of millions of dong or sentenced to non-custodial reform for two years. This raised concern among startups because most technology startups deploy their business, provide services and collect money via computer and telecommunication networks. PM Nguyen Xuan Phuc at the August regular meeting proposed to remove the Article 292. Startups receive huge foreign investment As Vietnamese startups have become better known, they can catch the eyes of foreign investors. The deal in which Standard Chartered Private Equity (SCPE) and Golman Sachs poured $28 million into MoMo e-wallet was considered the most successful capital call so far. Other startups also received huge investment capital in 2016, including GotIt ($9 million), Vntrip.vn ($3 million) and Toong ($1 million). Silicon’s 500 Startups arrive In early 2016, 500 Startups, a large US-based venture fund, announced it would set up a small fund with $10 million to pour capital into 100-150 Vietnamese startup projects The fund in Vietnam will be managed by Binh Tran, the co-founder of Klout, and Eddie Thai. Both of them were born in Vietnam but have been…... [read more]

VietNamNet Bridge - December 31, 2016 was the ‘first death anniversary’ of Deca, an e-commerce site. In 2016, Vietnam’s e-commerce witnessed the departure of another name – Lingo. Many stars in the market faded after a short time of burning bright. One more left In August 2016, Maj Invest, the investor, refused to continue to pour money into Lingo. In 2015, VMG sold 6.6 million Lingo shares to Maj Invest through a subsidiary – Yellow Star Investment 3. It was initially expected that Maj Invest would inject money into Lingo in the second phase in June 2016 to take over the remaining stakes (25.09 percent) VMG was still holding in Lingo. December 31, 2016 was the ‘first death anniversary’ of Deca, an e-commerce site. In 2016, Vietnam’s e-commerce witnessed the departure of another name – Lingo. Many stars in the market faded after a short time of burning bright However, the promise was not fulfilled. As Deca and Lingo have left, only two Vietnamese companies – Tiki and Adayroi - still exist in the market and are struggling with foreign rivals Foreign competitors flock to Vietnam “I don’t want to see the Vietnamese e-commerce market swallowed by giants from Thailand, South Korea and China,” an official said. In April 2016, Chinese Alibaba took over Lazada global in a deal worth $1 billion. After buying 49 percent of stakes of Nguyen Kim retial chain in 2015, Thai Central Group moves ahead with a series of other M&A deals in retail and…... [read more]

VietNamNet Bridge - Startups and the ‘entrepreneurial spirit’ were talked about more than ever before in 2016. Government, international institutions, investors show interest The government of Vietnam chose 2016 as the entrepreneurship year, while the project on supporting a startup ecosystem by 2025 was approved by the Prime Minister. At least 2,000 startup projects would receive support. In June 2016, Deputy PM Vuong Dinh Hue commented at a big conference that Vietnam had taken a strong step in the path of entrepreneurship. However, he noted that Vietnamese startups are still facing big difficulties in capital arrangement. He suggested establishing a stock market specifically reserved for startups, assigning the State Securities Commission to draw up the plan.The government of Vietnam chose 2016 as the entrepreneurship year, while the project on supporting a startup ecosystem by 2025 was approved by the Prime Minister. At least 2,000 startup projects would receive support. The government also took action in an effort to encourage the ‘entrepreneurial spirit’. Article No 292 of the 2015 Criminal Code on providing illegal services on computers and telecommunication networks was removed, allowing startups to proceed when carrying out experiments with software products or online services. In 2016, the Vietnamese startup community had a golden opportunity to meet and talk with US President Obama during his official visit to Vietnam in mid-year.Startups receive huge investments The year saw a series of startups receiving huge investments. These included MoMo, a e-wallet which successfully called for $28 million, GotIt $9 million and Vntrip…... [read more]

VietNamNet Bridge - In a new business field like e-commerce, the competition in quality is important as it brings benefits to Vietnamese users. Tiki.vn has reported a loss of VND157 billion since the day it received investment from VNG eight months ago. But it is normal to take a loss in the first years of operation. The loss is equal to the amount of money Lingo.vn incurred which forced it to shut down. However, Tiki is different from Lingo, because the financial capability of the startup is stronger, especially after it received VND384 billion worth of capital from VNG. Tiki now needs to focus on expanding the network. Tran Ngoc Thai Son, Tiki’s CEO, said Tiki spends its money on three things. In a new business field like e-commerce, the competition in quality is important as it brings benefits to Vietnamese users. First, the scale of the e-commerce website has grown. The number of orders successfully delivered to customers increased by 3-4 times in the last year. Second, the delivery time has been improved. According to Son, the average delivery time is 2.8 days. Third, it has customer loyalty. The rate of rejected products and demand for exchange accounts for only 1 percent of total sales, an ideal figure for any online or offline retailer. Tiki’s NPS (net promoter score) is very encouraging at 81-83, which is equal to that of US retail chain Costco with NPS of 82. The satisfactory indexes announced by Tiki, as analysts commented, make its…... [read more]

FPT buys 123mua.vn from VNG Chi Thinh By Chi Thinh - The Saigon Times Daily HCMC – Sen Do Company, a member of FPT Group, on July 9 officially took over the trading floor 123mua.vn of VNG Corporation. Sen Do Company, which is operating the online trading floor sendo.vn, after taking control of 123mua.vn will continue to implement all contracts that the trading floor had signed with partners before. A source said the deal includes the network management system and the database of customers, but it is not clear whether the human resource is transferred or not. Tran Hai Linh, general director of the e-commerce floor sendo.vn, said the deal is part of the development strategy of sendo.vn. This e-commerce website will provide new services for its customers, such as goods delivery, payment by cash and online transactions through the FPT’s system. Sen Do JSC, an offshoot of FPT Online Company, was established on May 13 2014 with the legal representative being chairman Nguyen Dac Viet Dung, former general director of FPT Online Company. The e-commerce floor 123mua.vn has around six million visitors and 2,500 new stalls registered a month. It has 80,000 products on sale, mainly technology and fashion items for young people.... [read more]




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