E commerce

Founders of Dutycast (Photo: VNA) HCM City (VNA) – VinaCapital Group ’s technology start-up venture fund VinaCapital Ventures (V2) has recently announced its investment in Dutycast, an assistant in cross-border online shopping. The global e-commerce market was estimated at nearly 994 billion USD (43.2 million USD) in 2020, which is forecast to surge to 2 trillion USD by 2026 with an annual compound growth of around 17.4 percent. Via Dutycast, users could shop from multiple stores in different countries and check out once. They could pay in their local currency via trusted payment methods and without having to worry about foreign exchange fluctuations. Dutycast was founded in 2020 by a group of experts in technology, global trade and consumer goods, including Nguyen Le Hoa, Dang Vu Tam, Doan Tran Thai Son and Tran Dinh Dat. Earlier in mid-September, VinaCapital Ventures poured capital into GlobalCare, an insurtech company that provides solutions for the sales … [Read more...] about VinaCapital Ventures acquires stake in Dutycast

Illustrative image (Source: VNA) Hanoi (VNA) – Vietnam is spreading a message among domestic and foreign business community that the country will not let COVID-19 to hold back its pace of development and Vietnam has been and will continue to be the top destination for investors, said Vu Tien Loc , President of the Vietnam International Arbitration Centre (VIAC). Speaking at an online meeting between Prime Minister Pham Minh Chinh with businesses and localities on September 26 on measures to support them amid COVID-19, Loc, who was President of the Vietnam Chamber of Commerce and Industry (VCCI) in the previous tenure, held that the adjustment of COVID-19 response strategy from no COVID-19 to safely and flexibly adapting to and effectively controlling the pandemic is a sound and timely decision. The amendments in vaccine strategy as well as efforts to increase supply and speed up injection speed as well as the definition of prioritised groups have brought about … [Read more...] about Vietnam not let COVID-19 hold back its pace: former VCCI leader

The Dutycast team Dutycast is a browser/app value-added extension that enables customers to purchase goods from selected global e-commerce sites and marketplaces with ease. In some countries, cross-border shopping can come with hidden surprises around foreign exchange rates, customs duties and local taxes, as well as shipping and other logistics fees (e.g., crating and handling fees, insurance), making the online shopping experience unexpectedly expensive than planned and creating significant challenges for consumers. Dutycast eliminates those surprises as well as other common hindrances such as language and payment methods. This innovative transaction processing tool provides users with a secure and transparent, end-to-end international shopping experience. They can shop multiple stores in different countries and checkout once, paying in their local currency via trusted payment methods and without the worry of FX fluctuations. The global cross-border e-commerce market was … [Read more...] about VinaCapital Ventures takes stake in Dutycast

At a factory of Nestle in Hung Yen province (Photo: baodautu.vn) Hanoi (VNA) – Recent announcements made by foreign investors on additional investment to expand production in Vietnam reflect their trust in Vietnam’s prospects for economic recovery, reported the Dau tu (Investment Review) newspaper. The Swiss company Nestle said it is pouring an additional over 130 million USD, raising its total investment in Vietnam to 730 million USD to carry out a number of its projects in the next two years. Urs Kloeti, Factory Manager of Nestle Bong Sen, was quoted by the newspaper as saying that his company believes in Vietnam’s role as an international and regional manufacturing hub in the future. Alongside Nestle, other foreign firms have committed to maintaining operations in Vietnam despite the fourth wave of COVID-19 outbreaks that have forced various localities to apply stringent preventive measures. Tetra Pak of Sweden has confirmed that it will pump 5 million EUR (5.86 … [Read more...] about Foreign investors keep trust in Vietnam’s recovery

Ninja Van has secured $578 million in a Series E funding round backed by Alibaba The funds from this round of investment will be allocated towards infrastructure and technology systems that will support a sustainable long-term cost structure, as well as the quality and consistency of Ninja Van’s operations. Funds will also be invested in Ninja Van’s suite of micro-supply chain solutions to help Southeast Asian businesses optimise e-commerce opportunities. “The quality of investors joining us in this round of investment is a clear signal that the market recognises the emerging opportunities for e-commerce logistics in Southeast Asia and how as an entrenched player in the region, Ninja Van is positioned to take a central role in meeting the shifting demands of both businesses and consumers,” said Lai Chang Wen, co-founder and CEO of Ninja Van Group. On the same note, Kenny Ho, head of Investment for Southeast Asia at Alibaba Group said, "We strongly believe in the potential of … [Read more...] about Ninja Van secures $578 million in a Series E funding round backed by Alibaba