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Tag: asia

  • Beautytap California flagship store open door

    Beautytap California flagship store open door

    South Korean beauty platform, Beautytap, has opened its first fully fledged retail location in California.

    Located at South Coast Plaza in Costa Mesa, the store is a one-stop destination for Korean beauty education, advice, content, community engagement and products.

    The store offers premium luxury beauty products, direct from Seoul, selected by Beautytap’s team.

    The brand has also launched a website for the US market featuring community-driven content on K-beauty, intended to complement the in-store experience and educate customers.

    Alongside Beautytap’s own products, the store also stocks products from K-pop star Jessica Jung’s Blanc & Eclaire skincare line Serein Skincare, her second point of sale in the US.

    “Skincare is a passion of mine, and I chose to partner with Beautytap to carry my Serein Skincare line because they embody K-beauty as an everyday lifestyle,” Jung said.

    James Sun, founder and CEO at Beautytap, said that with 90 per cent of beauty products still being purchased in physical stores, the company knows it has to go above and beyond an online experience to build a true relationship with its customers.

    “This is where the physical element comes in, by allowing customers to come into our store so they can experience and learn about products and interact with our educated staff, in-person,” he said.

    South Coast Plaza is one of the US’ top-grossing shopping centres and features a high concentration of designer boutiques. “It was the perfect location for our first retail store,” said Sun.

    K-beauty experts will be in store at the Beautytap flagship to explain products to customers and recommend the most appropriate products for customers.

     

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  • Make or break time for Vietnamese e-wallets

    Make or break time for Vietnamese e-wallets

    Big moves by some players are exerting severe pressure on many e-wallet service providers in Vietnam.

    Twenty seven payment service providers had been licensed in Vietnam as of last March, with 20 of them offering digital wallets, according to the State Bank of Vietnam. Others provide services such as financial switching, electronic clearing and payment gateway.

    There are many reasons why banks, tech companies and fintech companies are venturing into the world of electronic wallets, including the growing global trends of digital banking and setting up financial startups.

    Besides, Vietnam has a large population of young people who are compulsive smart phone users and fond of technology but lack interest in traditional banking services.

    “Consumers are increasingly living a modern lifestyle that is accompanied by digital services,” Tran Thanh Nam, founder and director of mobile payment player Moca Technology and Services Corporation, said.

    “In addition to free social networks, they have begun to pay attention to incorporating electronic services for their daily needs. From ride hailing to food delivery, it comes with safe and convenient non-cash payments.”

    Who are offering e-wallets?

    Moca’s popular rivals included MoMo, Bankplus, Vi Viet, VTC Pay, WePay, Mobivi, and Vimo.

    As of December 2017 MoMo had more than five million users and expects to see a two- to three-fold increase this year. Vi Viet has more than two million users and hopes to increase the number to 3.5 million this year.

    Late last year Pham Tien Dung, head of the State Bank of Vietnam’s Payment Department, said only about five payment intermediaries earned profits. The rest of the market has been labeled “unstable”.

    Nguyen Dinh Thang, chairman of LienVietPostBank, which owns Vi Viet, said: “E-wallets need more time to develop to meet customer needs and market potential, and using cash cannot be changed in the blink of an eye. The market needs time to experience the utility and convenience of e-wallets.”

    Industry insiders said each e-wallet has its own development strategies and target customer segments.

    But they admitted that the failure by many e-wallets to adapt to the financial ecosystem in Vietnam and the lack of widely accepted payment gateways are holding the industry back.

    In 2017 MoMo garnered more customers by offering discounts and promotions and spending on advertising. Then, this year it decided to exploit the power of the ecosystem by signing a deal with ride hailing company Uber Vietnam. Unfortunately, Uber withdrew from Southeast Asia a few months later.

    Zalo Pay was a latecomer but achieved great success at the beginning of this year by running a “lucky money” campaign during the Lunar New Year that enabled users to gift lucky money to their loved ones using the digital wallet.

    This campaign was a huge hit also in China when WeChat and AliPay ran it.

    Zalo has an advantage over other e-wallet rivals since it already has an enormous user database from its messaging application.

    The competition is fierce

    The most recent tie-up, and one that could be a game changer, is between Moca and Grab. The CEOs of both companies are ambitious about developing their electronic wallets. Their strategy is “if we grow, we grow together”.

    More specifically, the deal indicates that those who partner with Moca e-wallets will benefit from the large number of Grab population of millions of drivers and passengers across the country.

    Grab users will soon be able to choose from all payment services offered by Moca, including bill payments, phone credit recharging, and non-cash payment at retail stores and fast food chains like 7-Eleven and McDonalds.

    A combination of Momo popularity, rising Zalo Pay and the Moca-Grab marriage are exerting great pressure on dozens of other e-wallet providers.

    Traditional mobile payment services of Vietnamese banks are also intimidated by the competitors.

    Responding to this challenge, TPBank has updated the flight ticket support service on its mobile application.

    UOB Bank Vietnam now allows in-app opening of new accounts in 10 minutes, reducing the time spent opening one at the bank by 80 percent.

    “In big cities like HCM City, four out of every five people have smart phones which can assist them in completing everyday tasks in a much faster and convenient way. We always want to develop and leverage technology so that banking services are much simpler, safer and smarter for our customers from the very first transaction,” said Harry Loh, CEO of UOB Vietnam.

  • Go-Jek Aims to Raise $2b for Southeast Asia Expansion

    Go-Jek Aims to Raise $2b for Southeast Asia Expansion

    Indonesian ride-hailing firm Go-Jek is seeking to raise about $2 billion from existing investors, including Tencent Holdings and JD.com, to fund its expansion plans in Southeast Asia, sources familiar with the matter said on Monday (17/09).

    Go-Jek’s fundraising comes as its main rival Singapore-based Grab is also building a war chest to transform itself into a consumer technology group and aggressively grow in Indonesia, Southeast Asia’s biggest economy.

    Both Go-Jek and Grab are raising billions of dollars and investing hundreds of millions of dollars in the race to gain dominance in Southeast Asia. More and more of the region’s 640 million consumers are going online, and starting to make use of smartphones to shop, commute and make payments.

    “Chinese investors have very, very deep pockets but the total amount depends on how demand shapes up,” said one source who was not authorised to speak to the media. Go-Jek’s other existing investors include private equity firms Warburg Pincus and KKR.

    Indonesia — home to 250 million-plus people — is shaping up as a battleground for global tech giants such as Alibaba , Tencent, JD.com, Google and Softbank Group in the fight for market share in ride-hailing, online payments and e-commerce.

    Launched in 2011 in Jakarta, Go-Jek — a play on the local word for motorbike taxis — has evolved from a ride-hailing service to a one-stop app through which its customers can make online payments and order everything from food, groceries to massages.

    Go-Jek said in May it would invest $500 million to enter Vietnam, Singapore, Thailand and the Philippines, after Uber struck a deal to sell its Southeast Asian operations to Grab.

    Go-Jek was last estimated to have a valuation of about $5 billion when Google, Singapore state investor Temasek Holdings and others came in as investors in its $1.5 billion funding earlier this year.

    The new funding is set to be completed later this year, the sources said.

    Go-Jek and JD.com declined to comment. There was no immediate response from Tencent.

    Go-Jek founder and CEO Nadiem Makarim said last month the company was seeing strong funding interest from its backers as it targets an aggressive expansion.

    Go-Jek is a dominant force in Indonesia, where it processes more than 100 million transactions for its 20-25 million monthly users.

    Ride hailing services in Southeast Asia are expected to surge to $20.1 billion in gross merchandise value by 2025 from $5.1 billion in 2017, according to a Google-Temasek report.

    Bloomberg reported news of Go-Jek’s fundraising late on Sunday.

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  • Morrisons seals supply deal with Big C

    Morrisons seals supply deal with Big C

    UK supermarkets group Morrisons has secured a supply partnership with Thai grocery chain Big C.

    The firm will be sending 100 branded products to feature on Big C shelves in what represents a major international partner for Morrison’s, which otherwise has a minor presence in Gibraltar and the Channel Islands. The company also previously supplied its own-label products to a Hong Kong e-commerce platform British Essentials.

    Morrison’s CEO David Potts has stated the company is not currently pursuing an international strategy – the partnership with Big C is the result of unexpectedly fast growth in the company’s wholesale business.

    Morrison’s revenues increased 4.5 per cent over the past half year compared to the same period last year. While same-store retail figures grew 2.1 per cent, its wholesale business grew 2.8 per cent.

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  • Vietnamese banks sound alarm over cybercrime

    Vietnamese banks sound alarm over cybercrime

    Many banks in Vietnam have reported about customers losing information about their accounts to criminals through phishing attacks and other methods.

    In a recent statement Techcombank said it had detected many cases of fraud and misappropriation of money by faking Western Union transactions.

    The criminals would send victims fake Techcombank messages claiming they had received money through Western Union, and tell them to go to a fake Techcombank website and log in to confirm the transaction, resulting in their account information being stolen.

    Maritime Bank has issued a statement cautioning customers about frauds in which criminals contact them through phone calls, text messages, social networks, and emails pretending to be the bank’s employees. They then ask the victims to provide their account information in return for money, promotions or prizes.

    Other major banks such as VPBank and Vietcombank have also issued similar statements cautioning customers against revealing their OTP codes to anyone, including the banks themselves, under any circumstances.

    They are also told to closely monitor their accounts to detect any abnormal activity, and report immediately to the bank if they receive suspicious calls or text messages.

    According to global statistics recently released by cybersecurity firm Kaspersky Lab, nearly 36 percent of cyberattacks in the second quarter of 2018 were targeted at financial services, including over 21 percent targeting banks and 8.17 percent targeting online shops.

    Financial experts have warned that Vietnam has become a hotbed of cybercrime, with criminals becoming increasingly sophisticated while banks still using old, insecure technologies and their customers lacking awareness of how or why to protect account information.

    To counter the increase in cybercrime, the government has issued a decree requiring banks to secure their customers’ information and not to provide such information to any third party without written consent from customers.

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  • US fashion label Henri Bendel to close after 123 years in business

    US fashion label Henri Bendel to close after 123 years in business

    L Brands is to close down its 123-year-old luxury womens fashion brand Henri Bendel.

    “We are committed to improving performance in the business and increasing shareholder value,” said L Brands CEO and chairman Leslie Wexner. “As part of that effort, we have decided to stop operating Henri Bendel to improve company profitability and focus on our larger brands that have greater growth potential. This decision is right for the future growth of our company, but not easy because of the impact to our L Brands family.”

    Henri Bendel has 23 stores operating in 11 US states, including a flagship on Fifth Avenue. It also has an e-commerce site.

    The company will implement a staged close-down, with new stock shipped for the peak holiday season and stores shuttered in January.

    L Brands predicts Henri Bendel sales to reach US$85 million this year, with an operating loss of $45 million. That figure excludes closedown expenses.

    L Brands is the parent company of Victoria’s Secret, Pink and Bath and Bodyworks.

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  • DHL Express Opens $2.98m Distribution Center in East Jakarta

    DHL Express Opens $2.98m Distribution Center in East Jakarta

    The local unit of Deutsche Post DHL, the world’s largest logistics company, has opened a $2.98 million facility in Pulogadung, East Jakarta, to accommodate growing demand and expand its presence in the capital.

    The new facility, located in Jakarta Industrial Estate Pulogadung, replaces the old one in Kelapa Gading, North Jakarta, which has exceeded its capacity.

    “The facility is proof of our commitment to meeting customers’ needs and international shipping demand. With this new strategic location, we expect to bring world-class services to our business customers,” Ahmad Mohamad, senior technical advisor at DHL Express Indonesia, said in a statement on Monday (17/09).

    The 1,800 square meter facility, which is equipped with motorized conveyor belts and weighing equipment to improve efficiency and accuracy, has the capacity to process 314,000 parcels annually. It is also equipped with an advanced security system, including 70 closed-circuit television cameras.

    The newly opened Pulogadung facility is one of several investments DHL Express has made in Indonesia.

    The company also has a gateway facility at Soekarno-Hatta International Airport in Tangerang, Banten; new service centers in Batam, Riau Islands; Solo, Central Java; and Makassar, South Sulawesi; and mobile service stations in several areas in Jakarta.

    DHL Express’s 7,000-square-meter distribution center in Cengkareng, Banten, established in November last year, is the company’s largest investment in Indonesia at Rp 60 billion ($4.03 million).

    The company, which operates in Indonesia through Birotika Semesta, reportedly plans to invest $2 million this year to expand its existing distribution centers and establish new service centers in several locations in the archipelago, while also increasing its cargo-carrying capacity.

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  • Kit Kat Bar opens in Tokyo, serves new Japanese Umeshu Plum Sake Kit Kats

    Kit Kat Bar opens in Tokyo, serves new Japanese Umeshu Plum Sake Kit Kats

    Nestle has opened a pop-up bar in Tokyo to mark today’s release of its new sake-flavoured Kit Kat bar.

    “Craft Sake Week @Kit Kat Bar” has been offering visitors a preview of the new Umeshu Plum Sake-flavoured chocolate bar paired with cocktails. The space is overseen by former soccer star Hidetoshi Nakata, now known for his work with more than 350 local sake breweries designing products to promote their rice wines both nationally and globally.

    Two Ume Sake Kit Kat and cocktail pairings served in Milano glasses are the highlight of the pop-up. The cocktails, created by noted craft cocktail designers to complement the flavours of the new Kit Kat, are exclusive to the bar.

    The pop-up, which runs to September 24, features other products both collaborated on and curated by Nakata to convey the beauty of traditional Japanese sake crafts, as well as a sake-tasting area.

    Nestle released it first premium sake flavoured Kit Kat last year.

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  • InterContinental Danang wins top World Travel Awards

    InterContinental Danang wins top World Travel Awards

    InterContinental Danang Sun Peninsula Resort has reaped a bumper harvest of prestigious awards at the World Travel Awards 2018.

    The resort, developed by the Sun Group, won Asia’s Leading Green Resort, Asia’s Leading Luxury Hotel Villa, Asia’s Leading Luxury Resort, Asia’s Leading Luxury Wedding Resort and Vietnam’s Leading Luxury Resort awards for this year.

    It also surpassed numerous other heavyweight competitors to retain the Asia’s Leading Luxury Resort title for the fifth consecutive year since 2014.The high-end property beat the winner of the previous four consecutive years, Mission Hills Shenzhen (China) and seven other competitors to become Asia’s Leading Green Resort 2018.

    In the framework of the event, the Bai Bac Bay Villa, the latest addition to the resort’s luxury collection of penthouses and villas designed by famed architect Bill Bensley, received the Asia’s Leading Luxury Hotel Villa Award for the first time.

    Combining the beauty of tropical landscapes, unique architectural space and international-standard service, InterContinental Danang Sun Peninsula Resort has been one of the ideal choices for couples to host breathtakingly luxurious weddings.Speaking at the awards ceremony held in Hong Kong earlier this month, Juan Losada, general manager of the resort, said: “Being named as Asia’s Leading Green Resort 2018 is a recognition of our efforts to maintain the sustainable development of the resort and protect the ecosystem of Son Tra Peninsula. This year’s award is a result of the world-class service and great experiences we deliver to our guests every day,” he said.

    This is a one-of-a-kind resort that redefines luxury by combining Vietnamese aesthetics with international standards. Set on 37 hectares of stepped gardens leading down to a private beach, each of the 200 rooms and villas guarantees a magnificent view of the crystal clear water of the East Sea.

    It has welcomed a veritable host of high-profile guests, including politicians and celebrities throughout the years. In October, 2017, it was selected to host the APEC Economic Leaders’ Week held in Danang.Decorated with wooden furniture and handmade silk and craft art pieces procured from many Vietnamese localities, this luxury resort was designed by star architect Bill Bensley.

    The World Travel Awards was launched in 1993 to acknowledge excellence in the travel and tourism industry and is now in its 24th year. Heralded as the “travel industry’s equivalent to the Oscar’s” by The Wall Street Journal, the awards are handed out based on votes by the public and travel professionals across the globe.

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  • India to have first cashier-free store

    India to have first cashier-free store

    The first automated, cashier-free store in India has opened its doors.

    Watasale, which has opened in Kerala, has no staff on sales or cashier duty and customers are not expected to scan products or wait in line. Shoppers carrying their smartphones can walk in and out of the store without needing to check out any items for sale. The store’s AI allows customers to purchase from the store by scanning a QR code.

    “Back in 2015, it was a time when machine learning and artificial intelligence was really coming out,” explains the firm’s COO Richu Jose. “We knew any segments can be disrupted using this technology. If you look at the market structure, the retail segment was still following the age-old technologies. We found it as a ripe ground for innovation and disruptive technologies.”

    Chief marketing officer Rajesh Malamal said that the firm believes “our systems are more economical and scalable in comparison to Amazon’s solution”.

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  • Asia-Pacific retailers plan overseas expansion

    Asia-Pacific retailers plan overseas expansion

    Asia-Pacific retailers as increasingly embracing overseas expansion, according to new research by commercial real estate company CBRE.

    The report, Rise of Apac Retailers 2018, analysed 600 openings in the region, showing the proportion of Apac retailers (predominantly F&B operators, fashion and beauty brands) had increased from 17 to 30 per cent between 2014 and last year, accounting for almost a third of new regional entrants. The strongest target markets are China, Hong Kong, Taiwan and Singapore, while the expansion itself has been shown to strengthen brands in their home markets.

    Most retailers expanding into Apac territories are from Australia, Japan and Korea.

    The firm’s  head of retail, advisory and transaction services Asia Vivek Kaul said: “Apac retailers are becoming a driving force in the region, spurred on by potential revenue growth and the need for stronger brand awareness. This expansion is not focused on one single market – instead, it reflects the diversity and dynamism within Asia Pacific’s retail sector.”

    Associate director of Asia Pacific research Liz Hung said whether they are establishing flagship stores in gateway cities or testing the waters in emerging markets, Apac brands are “increasingly adopting a savvier approach” to regional expansion.

  • US-China trade war boon for Malaysian exporters

    US-China trade war boon for Malaysian exporters

    As US is imposing new tariffs on US$200 billion (RM828 billion) worth of Chinese goods, local exporters are expected to see some increase in orders from the affected players in the two big economies over the next few months.

    It is understood that the US tariffs will take effect on almost 6,000 goods from Sept 24, starting at 10% and increasing to 25% from the start of 2019. Items taxed include everyday items such as suitcases, handbags, toilet paper and wool; and food items from frozen cuts of meat, to almost all types of fish, soybeans, various types of fruit and cereal and rice.

    Sunway Business School Economics Professor Dr Yeah Kim Leng said that he believes the affected firms in both respected countries will be looking at sourcing for other countries and relocate part of their production plants to other countries including Malaysia.

    “Of course they will be exploring and we (Malaysia) already seeing some inquiries. Based on their feedbacks, they are seeking on how they can divert some of their orders to Malaysian companies.

    “Now that the lists of goods are much more wider, they (local firms) are likely to see greater inquiries and look into securing some of the production contracts,” Yeah said, as affected companies are looking to reduce their costs due to the additional tariffs.

    He opined that while the 10% tax is less damaging, the 25% tax will add to the cost pressures for both consumers and businesses in the respective industries.

    Yeah however believes that the slowdown in global growth may deter the affected players from expanding their capacities or relocating their plants to other countries, and instead have them look at existing companies to supply their orders for those affected goods.

    “In the short term, Malaysia may also not be able to capitalise on that given our full capacity constraints.

    “There might be a capacity constraint for Malaysian companies to ramp up production but those with spare capacities will stand to benefit to complete some of the orders,” he added.

    Meanwhile, FXTM global head of currency strategy & market research Jameel Ahmad said that the US’ new tariffs has encouraged further risk aversion across the markets as expected.

    Jameel opined that this move will make investors more sensitive to the ongoing uncertain external environment and expects those currencies belong to markets with weaker external positions to be hit hardest in the aftermath of this decision.

    “The US dollar has once again strengthened on increased trade tensions, while a wide basket of different emerging market currencies is once again on the back foot due to a lack of risk appetite for emerging market assets.This probably means another blow for the likes of the Indian rupee, Indonesian rupiah and South African rand.

    “The outcome is negative for the Chinese yuan, however it has been priced in throughout recent weeks and the reaction in the yuan has not been as negative as would have been first feared. The yuan is down just over 0.10% at time of writing.
    “The ringgit and rupiah are example of two Asian currencies that are trading more negatively than the Yuan, in reaction to this news,” Jameel added.

    The local note was down to 4.146 to the dollar. The FBM KLCI was down about 10 points to 1,792.94 points.

    On another matter, Yeah said the escalating trade war will likely give greater impetus for both China and US to pursue on their respective regional trade agreements and divert them from each other economies.

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  • Vietnam sees high-speed train finally coming

    Vietnam sees high-speed train finally coming

    The trans-Vietnam high-speed rail is back on the agenda, with officials saying it can compete with aeroplanes for business.

    Government officials are also confident that the current pace of economic development will make it practical to source funding for the multi-billion dollar project in phases.

    The Ministry of Transport is working on a feasibility study for the high-speed railway project what would span 1,545 kilometers (960 miles) to connect Hanoi and Ho Chi Minh City.

    The project is estimated to cost more than $58 billion, which was the reason lawmakers had shot it down several years ago, saying the nation could not afford it then.

    It is currently envisaged that two sections of the route – from Hanoi to the north-central city of Vinh and from the south-central city of Nha Trang to HCMC – will be built first in 2020-2030 at a cost of $24 billion, and commercial operations are likely to begin in 2032.

    Questions have been asked about the advisability of pursuing the high-speed rail project in the context of Vietnam still needing a lot of capital for infrastructure projects like expressways, the Long Thanh International Airport, which is set to become the country’s largest, as also expansion of the Tan Son Nhat Airport in HCMC.

    This is countered with the argument that the high-speed railway has great advantages in a country with narrow and long terrain like Vietnam.

    Nguyen Van Thanh, chairman of Vietnam Automobile Transportation Association (VATA), said that in the next 10-15 years when Vietnam’s population rises to more than 100 million, the demand for travel would be huge.

    By then, the country will need more means of transportation, Thanh said, adding that he guessed many people would prefer the rail rather than roads on safety considerations.

    Going further, Thanh compared the high-speed rail with flying.

    “Many will choose the high-speed rail because the time for traveling would be almost the same, but unlike airports that mostly lie in suburban areas, rail stations are in the inner city, which makes it more convenient for passengers. Moreover, the procedures for flying are much more complicated.”

    Transport expert Than Van Thanh had similar thoughts.

    “Railways have been left behind for 70 years in Vietnam and the country has paid a lot of attention to developing roads; but it’s not safe to let bus drivers drive for more than 300 kilometers at a time.

    “Road transport has high logistical costs and frequent accidents. A high-speed rail will ease the overload on the roads and thus reduce traffic accidents and environmental pollution. If we let too many long distance buses operate on the road, like we are doing now, we are going in the opposite direction from the world,” he said.

    Tran Dinh Thien, a member of the Prime Minister’s advisory group, said the National Assembly used to turn down proposals on the high-speed rail because the investment was too high, but with the current speed of economic development, it was possible to raise fund for each phase of the project.

    “The demand for travel between Hanoi and Vinh is high and with a designed traveling time of 1.5 hours, high-speed trains can compete with buses and airlines. It is not right to give priority to any specific sector,” he said.

    According to a consultancy consortium comprising Vietnamese firms Transport Engineering Design Inc (TEDI), Transport Investment and Construction Consultant Joint Stock Company (TRICC) and Transport Engineering Design Incorporation in the South (TEDIS) that is hired by the government to do the feasibility study, the trans-Vietnam high-speed rail would adopt the distributed traction technology used by Japanese high-speed trains.

    Sixty percent of the tracks will be on viaducts, 10 percent underground and 30 percent on the surface, completely protected by fencing and without a single crossing.

    The entire project could be completed and operational by 2040-2045. The train ride from Hanoi to HCMC then would take eight hours, while the current one takes 24 hours.

    Vietnam’s existing 3,000-kilometer railroad network has not received any major investment since it was built 140 years ago, and does not have the capacity for high speeds.

    Investment in the railways currently accounts for just one percent of the transportation sector’s total budget.

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  • DHL e-Commerce to launch Cash-on-delivery service

    DHL e-Commerce to launch Cash-on-delivery service

    DHL eCommerce has launched a cross-border cash-on-delivery service for Southeast Asian customers.

    The service will allow sellers in China and Australia to target consumers in Malaysia, Thailand and Vietnam who do not have credit cards or even a bank account – an estimated 73 per cent of the region’s population. It enables cash collection from buyers in these regions upon delivery.

    Collected cash will be remitted to a local bank account at the destination or the billing country based on the local destination currency. Remittance will be made to sellers every fortnight and tracking visibility of the status of COD is available on the DHL portal.

    CEO of DHL eCommerce Charles Brewer said that despite growing credit card adoption in Southeast Asia, the low level of credit card penetration has forced e-commerce retailers to offer alternative modes of payment methods such as cash on delivery, digital payments and in some cases paying in-store.

    “This opens up a huge potential by reaching out to a new group of unbanked consumers and also meeting the needs of consumers who prefer to pay in cash.

    “China and Australia are huge e-commerce export markets and our DHL Parcel International Direct product provides a direct entry into high demand markets with excellent transit times of three-to-five business days with economical shipping prices. With our fully-owned domestic delivery network in Malaysia, Thailand and Vietnam, we are able to deliver on-time with secure features like cash-on-delivery.”

    CEO of DHL eCommerce’s new Vietnamese partner Sendo, Tran Hai Linh, added: “Being a home-grown company allows Sendo to have a deep understanding of the Vietnamese local market and culture. Sendo aims to support over 300,000 individual vendors, micro-entrepreneurs, and small businesses to sell their goods online and deliver them affordably throughout Vietnam. With our collaboration with DHL eCommerce, we will provide not only the sellers but also several million buyers on our platform with an international quality delivery experience in Vietnam.”

    DHL operates more than 300 ServicePoints across Vietnam accessible to Sendo, meaning buyers can choose to have their parcels dropped off at these locations instead of waiting for a pick-up and enjoy discounts of up to 20 per cent.

    DHL eCommerce Vietnam’s MD Thomas Harris said Micro, small, and medium-sized enterprises continue to play a major role in Vietnam, accounting for 98 per cent of all enterprises, 40 per cent of GDP and 50 per cent of employment.

    “However, they face unique challenges such as access to finance and international partners. DHL is passionate about supporting small businesses and we are excited to work with Sendo to support their sellers with an excellent, high quality domestic delivery network.”

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  • Half of Vietnamese youths think technology will create more jobs: survey

    Half of Vietnamese youths think technology will create more jobs: survey

    A majority of Vietnamese youths believe that technology will increase the number of jobs in future, a survey by the World Economic Forum has found.

    The “ASEAN Youth and the Future of Work” survey done by the WEF together with internet company Sea recently released said while 51.5 percent said technology would increase the number of jobs, 35.3 percent said it would decrease the number.

    These figures vary significantly in the six countries surveyed, the survey said.

    Vietnamamese youths perception of technology impact on jobsin percentageJobs will increaseJobs will decreaseNo impactWEF (2018)

    Singapore and Thailand are the most pessimistic with 53 percent in the former country and 43.6 percent in the latter saying technology would take away jobs.

    But on average, 52 percent of Southeast Asian youths were optimistic.

    Justin Wood, head of Asia Pacific, and member of the executive committee of the WEF, said: “Globally there is concern that technological change may bring rising inequality and joblessness. But in ASEAN, the sentiment seems to be much more positive.”

    The survey also showed that Vietnamese youths are most confident about the impact of technology on their future income, with 72.8 percent saying technology would increase their income, the highest of the countries surveyed.

    In terms of preference for work, the survey found that 26.5 percent of ASEAN youths are currently working for themselves.

    Most countries surveyed have a rising interest in self-employment. In Vietnam, this figure is currently 19.3 percent, but 24.8 percent want to be self-employed in future.

    Over 10 percent of ASEAN youths work for a multinational company and 17 percent would like to work for one in the future, the survey said.

    Though 16.5 percent work for a small and medium-sized enterprise (SME), only 7.4 percent want to continue their career at these companies.

    “The findings suggest that small and medium-sized enterprises (SMEs) may struggle for talent in future,” Sea Group chief economist Santitarn Sathirathai said, adding it is important to continue to enhance adoption of digital technologies by SMEs to ensure young entrepreneurs have the resources they need to succeed.

    The survey also found that Vietnamese youths spend the least time on the internet — five hours and 10 minutes a day. In Thailand, this figure is more than seven hours.

    The survey polled 64,000 respondents aged 35 or less from Vietnam, Thailand, Malaysia, Indonesia, Singapore, and the Philippines.

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