Foreign investors made strong investments into Vietnam’s e-commerce industry in 2012, noted Nguyen Thanh Hung, vice chairman of the Vietnam E-commerce Association. The industry in 2012 recorded the prominent capital contribution of foreign investors in local trading websites such as Wada.vn, Vn.Hao123.com (Baidu) or Tencent (Wechat), Hung said. Investors came from many nations including Japan, Russia,... 

A report of IDC shows that Vietnamese enterprises in the digital communication industry are facing tough competition from foreign companies. For social networking, domestic websites such as Yume, tamtay and Zingme hold a 30% market share. Meanwhile, five foreign social networks such as Facebook, Twitter, Linkedin, Flicks and Youtube hold a dominant market share of a staggering 70%. Regarding online... 

E-commerce offers a wealth of potential development opportunities for both service providers and companies using online business services. Tran Huu Linh, Head of the Department for E-Commerce and Information Technology (IT) under the Ministry of Industry and Trade (MoIT), says over the past years, e-commerce has developed steadily in Vietnam and the IT sector has improved remarkably, attracting a... 

The legal framework for e-commerce needs to be strengthened to cope with the rapid development of the industry, experts have said. Speaking at a recent conference in Ho Chi Minh City to collect ideas for a new draft decree on e-commerce and the internet, Tran Huu Vinh Binh of the E-commerce and Information Technology Agency (VECITA) said “A decree issued in 2006 was the first law on e-commerce,... 

Bank for Investment and Development of Vietnam, or BIDV, and VC Corp on Wednesday signed a cooperation agreement in online payment, allowing 500,000 SohaPay users to top-up their accounts at 1,200 transaction points of the lender in Vietnam. SohaPay developed by VC Corp is one of free online payment tools. According to the E-commerce and Information Technology Department under the Ministry of Industry... 

Intel Capital, Intel Corporation’s global investment and M&A organisation, has announced it will invest $17 million in two Southeast Asian companies. The investments go to the Hanoi-based Vietnam Communications Corporation (VC Corp), an internet infrastructure and services company and Singapore-based Reebonz.com, one of the largest private sales e-commerce groups in Asia for luxury goods. “The... 

E-commerce and information technology have become essential tools for enterprises, especially in the current process of restructuring the economy, according to an official from the Ministry of Industry and Trade. Tran Huu Linh, Director of the Vietnam E-commerce and Information Technology Agency, said e-commerce has entered individuals’ daily lives and business strategies, and it is a key element... 

US Internet pioneer Yahoo! is considering trimming its stake in Chinese e-commerce powerhouse Alibaba and letting go of its share of Yahoo! Japan, the New York Times and Wall Street Journal reported on Wednesday. The publications cited unnamed sources as indicating Yahoo! might raise billions of dollars by cutting its ownership in Alibaba to 15 per cent from 40 per cent and by letting go of its 35-per... 

In addition to popularizing and applying e-commerce, Vietnam should build a legal corridor with specific regulations to protect consumers from spam, advertisements, and illegal disclosure of personal information. Toshihiro Eto from Japanese Ministry of Economy, Trade, & Industry made the proposal at an international workshop on boosting Vietnam-Japan cooperation in e-commerce, held in Ho Chi Minh... 

VNG Company on Tuesday struck a deal with Japan’s leading social game company DeNA to export social network games to the Japanese market, becoming the first digital content provider in the local market to export game products. Under the deal, DeNA will introduce the game Pig Farm developed by VNG to Japanese users of Yahoo! Mobage service, a social network game website operated by DeNA and...