Tech

Indonesian ride-hailing and online payment firm Go-Jek on Thursday said it would enter Viet Nam. — Photo Jakarta Post Indonesia’s ride-hailing start-up Go-Jek announced on Thursday that it will invest about US$500 million to move into four new markets in the next four months - Singapore, Viet Nam, Thailand and the Philippines. The move will heighten its rivalry with Singapore-based Grab, which already operates in Indonesia, South-east Asia’s largest ride-hailing market. The expansion into the four countries will start with ride-hailing services, but the company is also aiming to replicate its other services offered in Indonesia to its new markets, Go-Jek added. It said it is currently working with regulators and other stakeholders across the region to pave the way for the new operations. Go-Jek also said it will seek out local partners with interests and expertise in each of the new markets. Go-Jek has reportedly been in talks with Singapore taxi giant ComfortDelGro … [Read more...] about Indonesian ride-hailing firm Go-Jek to enter Viet Nam

Deputy Minister of Information and Communications Nguyen Thanh Hung speaks at the event. — Photo mic.gov.vn The Viet Nam Computer Emergency Response Centre (VNCERT) hosted the 2018 ASEAN-Japan Information Security Drill in Ha Noi, central Da Nang and HCM City on Wednesday. The Viet Nam team attended the event with 300 representatives and technicians from over 100 member units of VNCERT, IT units from ministries, sectors and localities as well as IT enterprises nationwide. At the event, deputy minister of information and communications Nguyen Thanh Hung said: “Distributed Denial of Service,or DoS/DDoS” attacks were growing in both number and complexity. According to statistics of VNCERT, Viet Nam recorded 4,035 cyber attacks this year up to May 19, with 2,661 defaming incidents, 776 malware attacks and 608 phishing scams. Therefore, drills on information security in response to relevant issues should be regularly organised, Hung said. Representatives of VNCERT said … [Read more...] about Viet Nam hosts 2018 ASEAN-Japan cyber security drill

The press meeting introduces K-Startup Grand Challenge held in Ha Noi. — VNS Photo Vu Hoa Vietnamese start-ups will have the opportunity to attend professional training courses, receive consultations from experts and seek investment capital by attending the K-Startup Grand Challenge 2018. This is a project conducted and financed by the South Korean government, said Mai Duy Quang, vice president of the Viet Nam Software and IT Services Association (VINASA), at a press conference in Ha Noi on Thursday to introduce the programme. The K-Startup Grand Challenge aims to promote the expansion of an open entrepreneurship ecosystem in Asia, he said, adding that Vietnamese start-ups will have the chance to win US$100,000 as the first prize and receive assistance from the South Korean government. Youn Jung Park, director of the Korea IT Co-operation Centre, said Viet Nam had a young and proactive start-up community with many innovative ideas. Some 80 start-ups worldwide will receive … [Read more...] about K-Startup Grand Challenge offers opportunities for Vietnamese firms

Viet Nam’s fintech market is estimated to increase from US$4.4 billion last year to $7.8 billion by 2020, driven by rising bank penetration, according to research of Solidiance. According to the white paper “Unlocking Viet Nam’s Fintech Growth Potential” released recently by the APAC-focused consulting firm, Viet Nam’s fintech market is poised for growth thanks to surging internet and smartphone penetration, burgeoning e-commerce sector, an increasingly supportive regulatory environment, and improvements in telecom infrastructure. Fintech is disrupting Viet Nam’s financial services ecosystem. As the country aims to move towards a cashless society, Viet Nam’s Government targets to reduce cash transactions to 10 per cent and increase bank accounts in the population by 70 per cent in 2020. Although bank penetration in Viet Nam is consistently growing, it still trails other Southeast Asian nations in the region. Viet Nam’s ratio of banked … [Read more...] about Việt Nam’s fintech industry to reach nearly US$8bn