The State Bank of Viet Nam (SBV) licensed 27 non-bank institutions to provide intermediary payment services by the end of August, of which 20 offered e-wallets, including well-known names such as MoMo, Bankplus and Vi Viet. — Photo momo Foreign investors have poured into Viet Nam’s e-wallet sector as they see huge growth potential in the market in the wake of the Government’s plan to reduce cash payments to below 10 per cent of the total payment transaction by 2020. The State Bank of Viet Nam (SBV) licensed 27 non-bank institutions to provide intermediary payment services by the end of August, of which 20 offered e-wallets, including well-known names such as MoMo, Bankplus, Vi Viet, VTC Pay, WePay, Vimo, Ngan Luong and Payoo. Most of the institutions have foreign investments, such as South Korea’s UTC Investment holding a 65 per cent stake in VNPT Epay, NTT Data holding 64 per cent in Payoo, Hong Kong’s Champion Crest holding 51 per cent of Amigo … [Read more...] about Foreign investors eye Viet Nam’s e-wallet market
10th c b s e result 2014
Hungarian President Janos Ader (Photo: EPA) Budapest (VNA) – Hungary considers Vietnam the most important partner in Southeast Asia and will work to strengthen the comprehensive partnership with the country, Hungarian President Janos Ader has said. The Hungarian President made the statement during his meeting with General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong in Budapest on September 10. Ader affirmed Trong’s visit is an important event, opening up a new stage in bilateral relations in all areas. He expressed his pleasure with achievements in bilateral relations, especially Hungary's preferential credit for, and water and environment projects in Vietnam. He underlined the importance of protecting water resources and the water environment, suggesting enhanced cooperation in training, including those working in the water sector. The President said Hungary is willing to provide Vietnam with water retention technology for drought … [Read more...] about Hungary considers Vietnam most important partner in S.E. Asia
The top three e-commerce platforms in Vietnam are Facebook, Shopee and Lazada (Photo: VNA) Hanoi (VNS/VNA) - The consumer-to-consumer (C2C) market in Vietnam will become a space for global tycoons following many recent investment deals with Vietnamese enterprises. Regarding business-to-business (B2B) and C2C e-commerce models in Vietnam, without the participation of Amazon, the top three e-commerce platforms are Facebook, Shopee and Lazada. The three companies make up 60 percent of total market value. The rest belongs to Sen Do, Tiki, Vat gia, En Bac, Cho Tot, Zalora, Adayroi and Foody. According to experts, Vietnamese e-commerce trading floors are gradually becoming a playground for global corporations. Billionaire Jack Ma has invested 4 billion USD in Lazada. Garena (now called Sea), Shopee’s holding company, is also generous in spending money in key markets of Singapore, Malaysia, Indonesia, Thailand, Philippines, Taiwan and Vietnam. China’s largest … [Read more...] about Foreign players eye Vietnam’s e-commerce
Prime Minister Nguyen Xuan Phuc ordered the implementation of online public services to benefit people and firms, Source: Government Office At Estonia’s e-Estonia showroom based in the capital city of Tallinn’s own ‘Silicon Valley’, IT expert Onnik Indrek showed off an electronic identity card, which, he said, can help him do almost everything in life. According to him, Estonia, known as one of the most advanced “e-states” of the world, is home to the most highly developed national ID card system in the world. Much more than simply a legal picture ID, this mandatory national card serves as a digital access card for every secure e-service in Estonia. The chip on the card carries embedded files using RSA 2048-bit public key encryption, which enable it to be used as definitive proof of identity in an electronic environment. The electronic ID card was introduced in 2002, and by 2015, more than 94 per cent of Estonian residents were carrying one. The … [Read more...] about Vietnam’s e government plan needs a big push
Vietnam’s e-commerce websites are still receiving heavy investment to develop despite big losses, but when will these projects stop losing? The Vietnamese e-commerce market is one of the leading markets in the region for investment. According to Nielsen, the annual growth speed of the e-commerce market is 22% and is expected to hit US$10 billion in annual revenue by 2022 from the current US$4 billion. The Vietnamese e-commerce market shows huge potential for development and receives great attention from new investors. In a recent report by Topica Founder Institute, e-commerce attracted US$83 million of foreign investment through 21 deals. Startup SEA (used to be Garena, which was termed as a unicorn in Asia), ranked first among investors pouring capital into Vietnamese startups in 2017. SEA spent US$64 million acquiring 82% of the shares in Foody, a food delivery website and app. CyberAgent Ventures, a Japanese venture investment fund, continues its activities in Vietnam. In … [Read more...] about When will Vietnam’s e-commerce players stop “burning money”?