Reporting and analysis on retail, e-commerce, and consumer trends in Vietnam, updated continuously by our newsroom.
Vietnamese fintech startup Infina has raised $2 million in seed funding from five global venture capitalists. The investors are Japan’s Saison Capital, Indonesia’s Venturra Discovery, Singapore’s 1982 Ventures, the U.S.’s 500 Startups, and Korea’s Nextrans.…
Vietnamese coffee chains are moving to establish themselves in foreign markets as part of expansion plans as well as a strategy to deal with increased domestic competition. Tea and coffee chain Phuc Long has just announced plans to open its first store in…
Ride-hailing firm Grab plans to launch electric car services in Vietnam and Indonesia after piloting a program in Singapore at the end of this year. Grab is partnering with South Korea’s automotive manufacturer Hyundai Motor to encourage the adoption of…
E-commerce platform Tiki has raised VND1 trillion (nearly $43.5 million) over the last three months by issuing corporate bonds. Issued from 16 March to June 13, the bonds are non-convertible with a fixed interest rate of 13 percent per annum, one of the…
Singaporean lender United Overseas Bank (UOB) forecast Vietnam’s GDP would grow by 6.7 percent this year. It said Vietnam’s economic growth trajectory remained on track, with exports in the first five months growing 35.5 percent year-on-year, while imports…
Vietnam Railways (VNR) is seeking a VND800 billion ($34.82 million) loan to fund operations amid plummeting demand for its services because of the Covid-19 pandemic. The state-owned company has requested the government for the funds, saying that if the…
Vietnam’s so-called mutant orchids are being turned into unique digital assets and being sold for up to thousands of dollars online. On the digital goods marketplace OpenSea.io, hundreds of items are displayed when a user types the keyword “Orchidaceae.”…
Fintech startup Mfast has raised $1.5 million in its Pre-Series A funding from a group of investors led by Do Ventures. Mfast is a fintech platform that enables Vietnamese to access, use and introduce financial and insurance service packages as well as other…
An interest-free loan of VND4 trillion ($173.9 million) will be soon disbursed to national flag carrier Vietnam Airlines, which is on the brink of bankruptcy over Covid-19 impacts. The legal procedures for an aid package designated for the local aviation…
Vietnam imported 9,400 vehicles from China in the first five months of the year, 6.5 times higher than in the same period last year, according to the customs department. Of them, nearly 5,600 were special purpose vehicles and 2,840 were trucks, with passenger…
Barbers in Hanoi and HCMC are going to customers’ homes to make a living as their shops remain closed due to the Covid-19 pandemic. For a month now Nguyen Thai Hoang, 27, a hairdresser in Hanoi’s Long Bien District, has had his business disrupted, and he has…
The textiles and garment sector is likely to be impacted by the Covid-19 situation getting more complicated across Vietnam. Industry insiders say the pandemic situation in HCMC, in particular, will drag the sector down in the remaining months of the year. The…
Coworking space operators in Vietnam have launched a number of Covid response services and even prepared for expansion after the pandemic is controlled. This month Dreamplex, which has five coworking spaces in Hanoi and HCMC, unveiled a service called the…
Bank credit growth from January 1 to June 15 was 5.1 percent, double the rate recorded in the same period last year. The jump came despite the fourth wave of Covid-19 because the State Bank of Vietnam made monetary policy more flexible and directed banks to…
Global giants Amazon and Alibaba are racing to recruit more Vietnamese vendors on their platforms seeking to boost their share of a booming e-commerce market. Amazon saw the number of Vietnamese merchants exporting at least $1 million worth of goods from…
Bamboo Airways officially entered into cooperation with the International Air Transport Association (IATA) to trial the IATA Travel Pass, laying a solid foundation for the airline’s reopening of international routes. In coordination with IATA, Bamboo Airways…
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