Go-Viet and other apps are integrating new functions to grow After taking the country by storm with their ride-hailing apps, the likes of Grab and Go-Viet have unveiled their ambitions of transforming into providers of multiple on-demand services. According to Jerry Lim, country head of Grab Vietnam, the firm has set itself “the lofty target of becoming a regional super-app.” The service, which has featured in the Vietnamese market for five years, has begun to add more everyday services to its ride-hailing app. For instance, last June Grab Vietnam ventured into food delivery with GrabFood. Representatives said GrabFood has grown 23-fold in delivery orders and four times in merchant partners, making Vietnam the second-fastest growing market for GrabFood in the region. In addition, GrabExpress teamed up with e-commerce partners and individual sellers to deliver parcels straight to the doors of customers. GrabExpress has recorded a 241 per cent growth in parcel delivery … [Read more...] about Upcoming everyday super apps will revolutionise the way business is done in Vietnam
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BUSINESS NEWS IN BRIEF 18/1
Vietnam attends South Asia’s Leading Travel Show in India Visitors at Vietnamese booths Five Vietnamese travel companies are currently participating in the 26th edition of SATTE, South Asia’s leading travel show, in India’s Uttar Pradesh state from January 16-18. They include Victoria Tour, Indochina Charm Tour, Go Indochina Tours, Hello Vietnam, and Asiana Travel. The fair has the participation of over 1,000 enterprises from 50 countries and territories. First launched in 2014, SATTE is one of the largest tourism and travel fairs in South Asia, run annually by India’s leading exhibition organiser UBM, the Ministry of Culture, and travel associations. The event provides a platform for countries to promote their lands, people, and traditional cultures, as well as attract foreign investment in tourism. It is also an occasion for policymakers and managers in tourism, along with experts and businesses, to share experience in the field and seek business … [Read more...] about BUSINESS NEWS IN BRIEF 18/1
Vietnamese top legislator’s visit makes headlines in RoK
Chairwoman of the National Assembly of Vietnam Nguyen Thi Kim Ngan arrives in Busan on December 4. (Photo: VNA) Seoul (VNA) – The media in the Republic of Korea (RoK) has highlighted the visit of Vietnamese National Assembly Chairwoman Nguyen Thi Kim Ngan with various articles featuring the relationship between the two countries and their future prospects. Korean daily newspaper of Busan on December 4 ran an article written by the Vietnamese top legislator noting that the relationship between Vietnam and the RoK, which began nearly 900 years ago, is developing comprehensively on the basis of historical connectivity, cultural similarities, economic growth support, and efforts of the two governments and peoples. After 26 years since the establishment of bilateral diplomatic relations, the two sides have become important partners of each other. RoK’s Yonhap news agency posted a photo of the Vietnamese NA leader with the caption saying that the leader arrived in the RoK on … [Read more...] about Vietnamese top legislator’s visit makes headlines in RoK
BUSINESS NEWS IN BRIEF 31/8
Mitsubishi plans to make electric cars in Viet Nam Japan’s Mitsubishi Corporation plans to invest in an electric automobile manufacturing factory in Viet Nam, said Executive Vice President Hiroshi Sakuma during a meeting with Vietnamese Deputy Prime Minister Vuong Dinh Hue in Ha Noi on Wednesday. At the meeting, Sakuma said his firm was evaluating the feasibility of the project and look forward to new regulations on environmental protection taxes to promote investment in the country. Hue said Viet Nam’s National Assembly would soon discuss and pass the Law on Environmental Protection Tax. There would be incentives commensurate with environmentally friendly products. The Mitsubishi Corporation is currently investing in two BOT (Build-Operate-Transfer) projects in Viet Nam, namely the Vung Ang 2 Thermal Power Plant (1,200 MW) and Vinh Tan 3 (1,980 MW) Power Plant. The corporation and Viet Nam’s Ministry of Industry and Trade signed an investment … [Read more...] about BUSINESS NEWS IN BRIEF 31/8
Masan swimming further downstream
Masan Group is working to rise higher in the global tungsten value chain M&A activities in the past 10 years have been growing more prominent in Vietnam, with the total transaction value of $48.8 billion. In 2017 alone, the value was $10.2 billion, 10 times of what it was in 2009. It has been the norm for multinational companies to acquire Vietnamese businesses due to the acquirers’ sheer size, financial capability, and clear strategy to expand their businesses in Vietnam. Despite all that, there were a small number of M&A deals involving Vietnamese companies gaining ownership in foreign ones. These rare cases usually make headlines and serve to demonstrate Vietnamese companies’ “coming of age” as they begin to expand beyond the borders and become global players. Some of the most noteworthy deals in the last decade include FPT’s purchase of a 90 per cent stake in an American consulting company, Vinfast’s acquisition of GM Vietnam’s … [Read more...] about Masan swimming further downstream