The e-Conomy SEA 2023, compiled by Google,Temasek Holdings, and Bain & Company has been released here’s what it says about Vietnam’s digital economy: Vietnam’s digital economy gross merchandise value, 2021 – 2030 2021 2022 2023 2025 2030 (US$ = Billions) US$ US$ % US$ % US$ % US$ Overall digital

Starlink pursuing Vietnam market access, but clear challenges exist

the-shiv October 31, 2023

Elon Musk’s satellite internet service, Starlink, is currently on show in Hanoi at the Vietnam International Innovation Expo 2023, VN Express is reporting. This is on the back of SpaceX representatives making overtures to the government last month with respect to making the service accessible in Vietnam. Point of note:

Data center development may not be keeping pace with demand in Vietnam

the-shiv October 30, 2023

An ‘investment rush’ into data centre development has not been enough to keep pace with growing demand, The Investor is reporting. The publication estimates Vietnam will need to build at least five new facilities each year with at least 2000 racks. Note that recently passed data localisation laws require firms

Amazon Prime Video set to exit Vietnam market

the-shiv October 17, 2023

Amazon Prime Video has decided to exit the Vietnam market at the end of the month, VN Express is reporting. Amazon doesn’t seem to have explained exactly why but the speculation is that Vietnam’s regulations on cross-border media providers may be the reason. More detail: In recent years Vietnam has

Cross-border firms with local offices face stricter supervision, more red tape

the-shiv October 11, 2023

Concerns have been raised that foreign cross-border service providers may be reluctant to open local offices in Vietnam due to the recent investigation of TikTok by the Ministry of Information and Communications (MIC), Vietnamnet is reporting. The article notes that the MIC has set out to assuage these concerns with

Results of Vietnam’s TikTok inspection announced

the-shiv October 6, 2023

The Ministry of Information and Communications has announced the outcome of an investigation of TikTok’s practices in the country finding a number of breaches of Vietnamese law, VN Economy is reporting. Most of the breaches relate to the censoring of content on the platform and the removal of sensitive content.

Unusually low startup funding reported for Vietnam in Q3

the-shiv October 3, 2023

In the third quarter of this year, Vietnamese tech startups received US$50.1 million in funding the Vietnam Investment Review is reporting citing data from Tracxn. The publication is saying this is a 504 percent increase on Q2 startup funding, however, Deal Street Asia put startup funding in Vietnam in Q2 of

Vietnam’s strengths and weaknesses from Global Innovation Index report

the-shiv September 28, 2023

Vietnam is up two places on the Global Innovation Index, now ranked 46 out of 132 countries, state media is reporting. The article focuses on input and output performance but misses the table below that lays out Vietnam’s innovation strengths and weaknesses. Full report. Strengths Weaknesses Rank Indicator name Rank

Vietnamese tech giant US IPO delayed

the-shiv September 24, 2023

Vietnam’s once-tech-unicorn VNG has announced that it will postpone its IPO in the US possibly until next year, VN Express is reporting. ‘Unfavourable conditions’ have seen VNG reassess its situation, according to the publication. For context: This is yet another in a series of on-again-off-again IPO announcements from VNG dating

Meta is looking to make metaverse hardware in Vietnam

the-shiv September 20, 2023

Facebook parent company Meta, is looking to make hardware for its Metaverse in Vietnam, according to VN Express. This comes as the Prime Minister of Vietnam met with Meta executives in California on Monday. Why it matters: Facebook has flourished in Vietnam and has become an integral part of the

Intellectual property, skilled human resources key challenges to US investment in Vietnam

the-shiv September 11, 2023

Despite US FDI into Vietnam topping US$11.4 billion there is still room for more investment with key obstacles yet to be resolved, Tuoi Tre is reporting. The article specifically mentions human resources and intellectual property protections as being inadequate–see comments below. Mai Nguyen, president of the Association of Foreign Investment

Vietnamese English education app gets US$20 million from Singapore investment firm

the-shiv September 11, 2023

UOB Venture Management has invested US$20 million in ELSA, an English education app, made in Vietnam, Deal Street Asia is reporting. The apps primary focus is improving English pronunciation through what it claims is AI. Why it matters: There is a huge appetite for learning foreign languages in Vietnam, particularly

Anticipated technology transfers from FDI to local firms not happening in Vietnam

the-shiv September 8, 2023

Technology transfers from foreign to local firms are not happening, Tung Dinh Dang, Deputy Director of the Department of Technology Assessment, via Tuoi Tre. Instead, foreign firms are only transferring technology to their Vietnamese subsidiaries. Dang says, the workers often using the technology do not have the skills or education

Samsung ‘reluctant’ re: semiconductor chip factory in Vietnam

the-shiv September 1, 2023

Samsung is ‘reluctant’ to build a semiconductor chip factory in Vietnam, Nikkei Asia is reporting. The publication goes on to detail Vietnam’s falling exports of smartphones and outlines some of the arrangements Samsung has with the Vietnamese authorities in order to ensure their operations run smoothly. Some context: Vietnam has

Vietnamese tech firm files for IPO in US

the-shiv August 30, 2023

VNG Corp, a Vietnamese tech firm most well known for a slew of popular video games and social messaging app Zalo has filed to list on the US stock exchange, according to Vietnam Net. VNG has been talking about listing for a long time now–in 2017 it signed an MOU