[Round-up] Facebook, Google Gaining Bigger Shares in Vietnam's Online Adversiting Market

Tuan Minh

21:28 17/08/2016

BizLIVE - Facebook and Google are dominating the online advertising market in Vietnam with an average growth of over 100% per year. Japanese air conditioner maker Daikin Industries will establish a call center in Vietnam in 2018.

[Round-up] Facebook, Google Gaining Bigger Shares in Vietnam's Online Adversiting Market

Facebook and Google are dominating the online advertising market in Vietnam. Photo: entrepreneur.com

Daikin Plans Customer Service Center in Vietnam
Japanese air conditioner maker Daikin Industries will establish new offices in Vietnam in 2018 that will serve as a call center and a place for local employees to receive sales training, according to Nikkei Asian Review.
The Osaka-based company will spend about 5 billion yen ($50 million) on the central Ho Chi Minh City facility and relocate its local sales headquarters there.
Vietnam PM Meets LG Advisor
Prime Minister Nguyen Xuan Phuc has affirmed that the Vietnamese government will provide all possible support for foreign firms, including those from South Korea, to do business in Vietnam, contributing to lifting two-way trade to $70 billion in the next five years, the Vietnam News Agency (VNA) reported.
The PM made the statement during a reception in Hanoi on August 16 for South Korea’s former Minister of Policy Coordination Yoon Dae-hee, who is in Vietnam in his role as senior advisor to LG Corporation.
Natcore Bags 200-MW Solar Job in Vietnam
Natcore Technology said on Wednesday it has won a contract to manage a 200-MW solar photovoltaic (PV) project in Vietnam.
The firm has signed a memorandum of understanding with an unnamed European developer and a Vietnamese consortium, under the terms of which the organizations will set up a joint company to execute the project in phases.
Facebook, Google Winning Larger Shares in Vietnam’s Online Ads Market
Facebook and Google are dominating the online advertising market in Vietnam with an average growth of over 100% per year, while almost all domestic rivals are facing difficulties in both market share and growth speed, according to VNA.
Facebook and Google accounted for 42.6% and 30.4% of the Vietnamese online advertising market.
Government Approves Plan to Reduce Cash Use
The Vietnamese government has approved an e-commerce development plan for 2016-20 that targets 50% of consumers switching from cash to other forms of payment.
The target has been set after factoring in the rapid increase in online shopping and electronic banking, according to VNA.
Vietnam Targets Stronger Tech Sector
The Vietnamese Ministry of Science and Technology (MoST) will create the best possible mechanisms and policies for high-tech parks as well as businesses of the Asian Science Parks Association (ASPA) to expand cooperation and improve their scientific-technological capacity in Vietnam.
MoST Deputy Minister Pham Dai Duong made the pledge at the “Business Meeting Asia” programmer in Hanoi yesterday that brought together nearly 130 domestic and foreign enterprises.
Central bank, Da Nang Top 2015 Administrative Reform List
The State Bank of Vietnam beat the Ministry of Transport to top the 2015 Public Administration Reform Index while Da Nang successfully retained its top spot among provinces and cities for a fifth straight year.
The Ministries of Home Affairs and Planning and Investment were the runners-up while he Ministry of Information and Communications was at the bottom, according to the Thanh Nien newspaper.
Saigon Beer, Alcohol and Beverage Corp or Sabeco, the largest brewer in Vietnam, will consider listing its shares on the Hochiminh Stock Exchange (HOSE), home to many large-cap companies, the Ministry of Industry and Trade (MoIT) said in a recent note.
In a response to the Vietnam Association of Financial Investors (VAFI), the ministry attributed the delay in listing to the unrealized scheme to reduce the state holding in the firm although it has submitted the privatization plan to the government four times since 2012.
Bangkok-based TCC Group plans to combine operations of hypermarket chain Big C Thailand with those of wholesale operator Mega Market Vietnam, formerly Metro Cash & Carry Vietnam, in a bid to gain larger foothold in the South East Asia.
The Vietnamese Ministry of Finance has put forward a proposal to write off 7.96 trillion dong ($356 million) in tax debts for enterprises and household-based and individual-run businesses which were dissolved or went bankrupt before January 1, 2014.
Vietnam posted a trade surplus of $2.25 billion in the first seven months of this year, compared to a deficit of $3.91 billion in the same period last year, data of the General Department of Vietnam Customs showed.
The country’s export turnover increased 5.4% year-on-year to $96.99 billion in the period, while it spent $94.73 billion on imports, sliding 1.2%.

TUAN MINH