Topic: Southeast Asia

Google, Temasek, and Bain & Company report paints a rosy picture for Vietnam’s digital economy.

On the occasion of the visit to Vietnam by the Danish Royal Family, the Vietnam - Denmark Sustainable Energy Summit will be held on November 1 in Hanoi with the participation of 36 leading Danish enterprises in the energy field. According to the International Energy Agency, Vietnam is the second-largest electricity user in Southeast Asia, which opens up major opportunities for foreign corporations to invest in its energy sector in general and renewable energy in particular.

The 220 kV Kien Binh - Phu Quoc transmission line, the longest offshore overhead power transmission line in Southeast Asia at 80.4 km and with total investment of over VND2.2 trillion ($90.4 million), was put into operation on October 14. The line will increase the power supply capacity for Phu Quoc Island in the Mekong Delta’s Kien Giang province by about five-fold compared to the current load and will meet needs to 2035.

To better understand the global gaming industry, VR.Space conducted a survey of gamers between the age of 16 and 24. It found that 93.6 per cent of Vietnamese internet users play games, spending an average of one hour and 19 minutes each day on the pastime.

The government and international organizations are optimistic about Vietnam’s economic growth in 2022 and 2023.

Vietnam’s game market has a great deal of potential for development, especially e-sports. The country is currently ranked seventh in the world and second in Southeast Asia in terms of game downloads. It is also ranked third in the top 10 game manufacturers in the region. For every 25 games downloaded, one is produced in a Vietnamese studio.

Last weekend in Hanoi, the NextTech Group and the Ngan Luong Company announced an investment of more than VND150 billion ($6.4 million) in the Boxme Vietnam Logistics Joint Stock Company. Boxme is the leading startup in e-commerce logistics services in Southeast Asia. With nine centers in Vietnam and the region, Boxme provides services to more than 600 renowned brands such as Panasonic, Colgate, and King Power.

Singapore’s Expara Venture Fund announced the $50-million Expara Southeast Asia Ventures Fund on August 4, investing in tech startups in Southeast Asia, with 50 per cent going to Vietnamese startups.

In a report on the implementation of Resolution No. 53-NQ/TW dated August 29, 2005, Director of the Ho Chi Minh City Department of Planning and Investment Le Thi Huynh Mai said that with a favorable geographical location and as a gateway for international exchange, Ho Chi Minh City plays an important role in attracting investment and has become a focal point for exchange with regions in the country and internationally as well as in the development of the southern region.

Vietnam has become a major regional player in e-commerce, according to analysts and observers.