Indochina’s e-Commerce Affair: Vietnam to attain US$6b transactions by 2015

Vietnam’s e-commerce is estimated to attain US$6.0 bil. worth of online payment transactions by 2015, according to economists attending the IT business support seminar held by the Chamber of...

mobile commerce

Vietnam’s e-commerce is estimated to attain US$6.0 bil. worth of online payment transactions by 2015, according to economists attending the IT business support seminar held by the Chamber of Commerce and Industry of Vietnam (VCCI).

As the Vietnamese authority continue to follow-up with the Doi Moi reforms, US, German and Russian investors are pouring into Vietnam, culminating in the birth of IDG ventures.  In September 2011, they’ve unveiled a US$60.0mil. deal.  The investors have announced the establishment of MJ Group at a ceremony in Ho Chi Minh City, to provide support to e-commerce startups.

As some of you may know, IDG Ventures has been an early believer, supporter and investor in Vietnam and Vietnam’s technology and media community. We believed in the opportunity in Vietnam and in the Government’s plan to prioritize, promote and build the sectors,” says Tom Tran of MJ, which has now nearly 500 employees in Hanoi and Ho Chi Minh City, after the merger of Diadiem (leading location and navigation services provider in Vietnam) with Nhommua (popular e-commerce platform in Vietnam).  MJ also includes Two.vn, a mobile apps company, and Two Media, an online advertising consultant.

Currently, some 30 million Vietnamese use the Internet, 58% of whom use it to research information on products before purchasing.  This opens perspectives for development of e-commerce in Vietnam.  In this context, providing secure payment solutions for consumers potentially allows companies to increase their sales.

The Vietnamese are also mobile savvy, with increasing number of mobile subscribers in Vietnam creating huge potential for “m-commerce”.  Local mobile operators have shaken hands with banks over developing e-commerce apps for mobile subscribers, with online payment companies such as VinaPay providing m-payment services.

Most Vietnamese e-commerce providers have been leaning on foreign investment to meet the huge capital funding required at the start-up stage.  Two leading e-commerce sites in Vietnam that have gained success with financial support of their foreign partners are Vat Gia and Cho Dien Tu.

Vat Gia director Nguyen Ngoc Diep said at the entry market stage, an e-commerce website developer must attract foreign backers for financial support.  Each website would need around US$2.0mil. to US$3.0mil. to successfully pass the startup stage.  Without funding from partner IDG Ventures, Vat Gia would not be able to weather the market entry stage.  The company reportedly had an expenditure of $3.0mil. from 2007 to 2010, with most of this funding coming from IDG Ventures.

Nguyen Hoa Binh, director of Peacesoft, the company behind Cho Dien Tu, shares the same opinion.  Peacesoft currently holds three major investors; IDG Venture, Japan’s Soft Bank and eBay.  As of August 2011, eBay holds 20% of Peacesoft’s shares (worth US$2.0mil.), while firms like Amazon and Rakuten have also approached local e-commerce providers over potential stake purchases or partnerships.

Founded in 2001, Hanoi-based Peacesoft provides online content management software, video-conferencing in Vietnam, besides operating an online auction website.  Under the agreement, eBay will have a representative on the Vietnamese company’s board and guide its expansion plans.

Categories
World News
76 Comments on this post.
  • Douglascep
    30 November 2020 at 10:17 am
  • Brianrog
    3 December 2020 at 7:59 am
  • Brianrog
    3 December 2020 at 4:07 pm
  • Brianrog
    3 December 2020 at 11:55 pm

    ed medication Cipro natural cure for ed

  • 60 mg vidalista effective
    4 December 2020 at 3:55 am
  • Brianrog
    4 December 2020 at 8:20 am
  • Brianrog
    4 December 2020 at 7:16 pm

    how long does 20mg cialis keep in system buy cialis show cialis working

  • Brianrog
    5 December 2020 at 4:15 am
  • albuterol 90 mcg
    5 December 2020 at 7:11 pm
  • cialis chewable tablets
    6 December 2020 at 12:11 pm
  • PhilipBaill
    7 December 2020 at 5:36 am
  • generic dapoxetine walmart pharmacy
    7 December 2020 at 10:42 am
  • PhilipBaill
    7 December 2020 at 2:06 pm

    erectile dysfunction medications: natural ed ed medicine online

  • DanielJaf
    9 December 2020 at 5:31 pm
  • DanielJaf
    10 December 2020 at 1:49 am
  • DanielJaf
    10 December 2020 at 10:11 am
  • DanielJaf
    10 December 2020 at 6:16 pm
  • DanielJaf
    11 December 2020 at 2:21 am
  • DanielJaf
    11 December 2020 at 10:16 am

    cheapest ed pills online canadian pharmacy legal to buy prescription drugs without prescription

  • DanielJaf
    11 December 2020 at 6:27 pm
  • plaquenil in mexico
    12 December 2020 at 6:40 am
  • Alleninefs
    12 December 2020 at 12:50 pm
  • Alleninefs
    12 December 2020 at 8:42 pm
  • Alleninefs
    13 December 2020 at 4:55 am
  • WilfredNib
    15 December 2020 at 2:04 pm
  • WilfredNib
    15 December 2020 at 10:49 pm
  • WilfredNib
    16 December 2020 at 6:49 am
  • WilfredNib
    16 December 2020 at 6:32 pm
  • HaroldJam
    17 December 2020 at 1:16 pm
  • how long does dapoxetine take
    17 December 2020 at 4:05 pm
  • HaroldJam
    18 December 2020 at 1:35 am
  • HaroldJam
    18 December 2020 at 1:17 pm
  • HaroldJam
    19 December 2020 at 1:14 am
  • HaroldJam
    19 December 2020 at 1:25 pm
  • HaroldJam
    20 December 2020 at 1:32 am
  • HaroldJam
    20 December 2020 at 1:22 pm
  • HaroldJam
    21 December 2020 at 1:07 am
  • IsaacPex
    21 December 2020 at 2:43 pm
  • IsaacPex
    22 December 2020 at 2:29 am
  • IsaacPex
    22 December 2020 at 2:28 pm
  • Johnnypauct
    23 December 2020 at 6:28 pm
  • Johnnypauct
    24 December 2020 at 7:17 am
  • Johnnypauct
    24 December 2020 at 8:01 pm
  • Johnnypauct
    25 December 2020 at 8:30 am
  • Johnnypauct
    25 December 2020 at 9:00 pm
  • Johnnypauct
    26 December 2020 at 10:44 am
  • Jamesber
    29 December 2020 at 9:28 pm
  • Jamesber
    30 December 2020 at 2:43 pm
  • Jamesber
    31 December 2020 at 7:59 am
  • Jamesber
    1 January 2021 at 1:09 am
  • Jamesber
    1 January 2021 at 6:30 pm
  • GeorgeItaTs
    3 January 2021 at 7:09 pm
  • GeorgeItaTs
    4 January 2021 at 12:33 pm
  • Khthcory
    9 January 2021 at 2:02 am
  • Aqwshaify
    11 January 2021 at 2:08 am
  • Lokuhaify
    11 January 2021 at 7:19 am
  • Fwsxhaify
    11 January 2021 at 2:00 pm
  • DavidApose
    11 January 2021 at 3:18 pm
  • Nllpreete
    12 January 2021 at 8:29 am
  • DavidApose
    12 January 2021 at 2:41 pm
  • Fgvdreete
    12 January 2021 at 5:08 pm
  • DavidApose
    13 January 2021 at 3:31 pm
  • DavidDausy
    15 January 2021 at 9:02 am
  • DavidDausy
    16 January 2021 at 8:41 am
  • Robertfom
    17 January 2021 at 2:51 pm
  • Kbctcory
    18 January 2021 at 9:06 pm

    cialis professional ingredients overnight pharmacy 4 u cialis viagra, cialis levitra online [url=http://mycialedst.com/]kГ¶pГ¤ cialis[/url] ’

  • Michaelwer
    19 January 2021 at 5:32 pm

    cialis tolerance cheap cialis slumjtda expired cialis 3 years

  • Michaelwer
    20 January 2021 at 6:37 pm
  • Aqbvhaify
    20 January 2021 at 9:03 pm

    viagra vancouver viagrarx viagra free delivery uk [url=http://acialaarx.com/]viagra for penis[/url] ’

  • how to buy prescription drugs without doctor
    20 January 2021 at 10:03 pm
  • how to buy prescription drugs without doctor
    20 January 2021 at 10:03 pm
  • Lcxhaify
    21 January 2021 at 1:27 am

    viagra with dapoxetine over the counter buy viagra au best deals on genaric viagra [url=http://genqpviag.com/]substitute viagra uk[/url] ’

  • Fsbxhaify
    21 January 2021 at 8:25 am
  • Nlbxreete
    21 January 2021 at 12:02 pm

    buy cialis from canada comprar cialis online dapoxetine real cialis [url=http://cialijomen.com/]canada cialis trial[/url] ’

  • Jbdchaify
    21 January 2021 at 8:07 pm

    viagra toronto discount viagra viagra on line singapore [url=http://llviabest.com/]buy viagra in canada toronto[/url] ’

  • Fbdhreete
    21 January 2021 at 8:13 pm

    viagra vs cialis side effects cialis payment paypal cialis side effects women [url=http://21cialismen.com/]tadafil cialis[/url] ’

  • Leave a Reply

    *

    *

    RELATED BY