Yahoo! has seen great potential in the Vietnamese market and will pull out all the stops to promote activities here, said Rose Tsou, senior vice president of Yahoo! in Asia Pacific.
Speaking at a summit conference on marketing in Hanoi, Tsou said Yahoo! highly appreciated the Vietnamese market due to high growth rates of Internet usage among emerging markets in Southeast Asia.
This is the first time Yahoo! had organized the event in Vietnam, attracting 20 advertising businesses from Hong Kong, Indonesia, Malaysia, the Philippines and Singapore.
Yahoo! used the occasion to launch Livestand from Yahoo!, a digital newsstand for Android and iPad tablets. Yahoo! will launch more products onto the local market in the near future, Tsou added. The event will run until on Tuesday.
According to IDC’s figures, only 23% of the Vietnamese population uses the Internet while the market expects to see an additional 17 million young users within the next 10 years. Internet subscribers in Vietnam grew by 25% last year, higher than Indonesia with 11%.
Doan Thanh Huyen, business director of Yahoo! Vietnam, said Vietnam’s advertising turnover accounts for only 1% of the whole of Asia Pacific.
Meanwhile, online advertising makes up just 3.7% of Vietnam’s total advertising revenue and this is a big opportunity for Yahoo! to make inroads, Huyen said.
The Saigon Times Daily