Tag: Vietnam

  • Taxis, ride-hailing apps hike Tet ride charges

    Taxis, ride-hailing apps hike Tet ride charges

    Taxis are refusing to charge by the meter and ride-hailing apps have doubled ‘peak hour’ prices and added surcharges as Tet draws close.

    Monday evening, five days before the Lunar New Year (Tet), Hoang Viet requested a car on ride-hailing app Grab. He was surprised to find that his 14-kilometer trip from an office block in Duy Tan street to the Gia Lam Bus Station cost VND280,000 ($12.11), more than double the usual price.

    When he tried to request rides on other apps like Be and Fastgo, he found that the prices were cheaper, but was unable to find a driver who would accept his request.

    Many others have reported running into similar situations since last week, especially during peak hours when travel demand is high as people rush to shop before Tet.

    Ngoc Mai, another resident, said it took her half an hour to call a taxi home after taking her child to a shopping center in downtown Hanoi.

    “Before opening the door, the driver asked me for VND120,000 ($5.2) for a 5-kilometer trip. This usually costs VND60,000-70,000 ($2.6-3) on regular days,” she said.

    Mai then asked three other taxis parked around the mall, but received similarly high quotes, with drivers saying they were charging more because of traffic jams around the city. Mai ended up requesting a ride on an app, but it took 20 minutes for the driver to come to pick her up.

    During the ride, Mai’s driver apologized and explained that the roads had become heavily congested over the last few days. Despite his company charging higher fees, he was making only VND1 million ($43) from less than 10 rides, while on normal days, his revenue could go up to VND1.5 million ($65), he said.

    “It’s not that we want to reject passengers, but roads are now very busy, especially in downtown streets, where it could take an hour to go just one kilometer. Yes, we have raised prices, but Grab has done so as well,” said the driver of a traditional taxi who did not wish to be named.

    Taxi prices are expected to go even higher, with most-ride hailing firms adding a surcharge to support drivers during the Tet holiday – from January 23-27.

    From Wednesday, passengers will have to pay an extra VND10,000 ($0.43) per trip on GrabBike and VND15,000 ($0.65) on GrabCar, the Singapore-based company has announced.

    Local ride-hailing firm Be also said it was adding a surcharge of VND20,000 ($0.86) per car ride during Tet peak times, 9 a.m.-12 p.m. and 4 p.m.-11 p.m.

    Meanwhile, Indonesia-based Go-Viet has said it will charge an additional VND20,000 ($0.86) for GoBike rides for the first 2 kilometers, and an additional VND5,000 ($0.22) for every kilometer after. It will also charge an additional VND10,000 ($0.43) fee per trip during the night.

  • Sabeco reports record profits

    Sabeco reports record profits

    Post-tax profits surged 22 percent year-on-year for Vietnam’s largest brewer Sabeco, reaching VND5.37 trillion ($231.96 million), its highest annual profit ever.

    The brewer’s 2019 revenues increased 5 percent year-on-year to VND37.9 trillion ($1.64 billion), with improved business results mainly attributed to heavy investments in sales and marketing, Sabeco management said in the company’s latest annual financial report.

    Sabeco spent VND1.49 trillion ($64.33 million) on marketing last year, a year-on-year increase of 31 percent, the report said.

    Revenues in the final quarter, however, declined 7 percent year-on-year to VND9.73 trillion ($420.11 million), but post-tax profits rose 18 percent to VND1.09 trillion ($47.06 million). This was due to profits from financial investments surging 54 percent, and profits from joint ventures and associate companies rising 41 percent, Sabeco said.

    By the end of 2019, Sabeco’s total assets and liabilities were valued at approximately VND27 trillion ($1.17 billion) and VND6.9 trillion ($297.92 million) respectively.

    Sabeco is owned 53.59 percent by Vietnam Beverage, a subsidiary of Thai beverage company ThaiBev. The Vietnamese government, represented by the Ministry of Industry and Trade, retains a 36 percent stake in the company.

    According to the latest figures by securities firm FPTS Securities, Sabeco held 40.9 percent of Vietnam’s beer market by the end of 2018, followed by Heineken Vietnam with 23 percent and local brewer Habeco, with 18.4 percent.

  • Vietnam eyes 5G equipment sale to US

    Vietnam eyes 5G equipment sale to US

    Vietnam hopes to sell locally-made 5G equipment to the U.S. as it prepares the commercial launch of the telecom technology this year.

    Information and Communications Minister Nguyen Manh Hung proposed to a delegation of the U.S. House of Representatives Monday that they initiate discussions of 5G technical standards to see if made-in-Vietnam equipment could enter the U.S. market.

    Vietnam plans to commence commercial operations of 5G this year, becoming among the first countries in ASEAN to do so, he said.

    The minister had set the stage for launching the new telecommunications technology by making the first 5G phone call on January 17, using equipment manufactured by Vietnamese telecom giant Viettel.

    The military-run Viettel is set to become the sixth firm in the world to launch its own 5G equipment after Ericsson, Nokia, Huawei, Samsung, and ZTE.

    Viettel plans to commercially launch 5G services this June. It has been testing and installing equipment since last year.

    Hung, a former Viettel CEO, has been pushing 5G research in Vietnam since taking over as communications minister towards the end of 2018. He asked local firms to produce their own equipment so that Vietnam is among the first countries in the world to launch 5G technology.

    The number of 5G subscriptions in Vietnam could hit 6.3 million by 2025 or 6 percent of total mobile subscriptions, technology conglomerate Cisco has forecast.

    In ASEAN, Singapore is expected to lead the way in launching 5G in 2020, followed by Vietnam, the Philippines, Malaysia, and Thailand, according to U.S. consulting firm AT Kearney.

    5G is said to offer speeds 100 times faster than 4G and support new applications like remote medical procedures and autonomous driving.

  • Grab installs first female CEO for Vietnam operations

    Grab installs first female CEO for Vietnam operations

    Nguyen Thai Hai Van will commence her role as Vietnam CEO of Singapore-based ride-hailing giant Grab on February 1.

    Van, the first female Grab CEO in Vietnam, will oversee business strategy and operations across the country, Grab stated Monday.

    Van boasts 17 years’ prior marketing experience at the Netherlands-backed personal care products maker Unilever Vietnam ahead of joining Grab on November 1 last year. Besides, she co-chairs Vietnam Mobile Marketing Association.

    She takes over as Grab Vietnam CEO from predecessor Jerry Lim, who will return to Singapore to serve as regional head of customer experience.

    Grab has seen strong development since entering Vietnam in 2014. Payments via Moca, its e-payment partner, grew by 150 percent between January and June last year while its number of active monthly mobile users rose by 70 percent.

  • Drivers more geared towards luxury cars

    Drivers more geared towards luxury cars

    Sales of luxury cars in Vietnam surged in 2019 with the rich showing greater preference for premium vehicles in a fast-growing economy. Mercedes-Benz sold the highest number of luxury cars at 6,800 units, up 8 percent from 2018.

    The imported crossover SUV Mercedes-Benz GLC 300, priced at VND2.56 billion ($110,600), was the best-seller, accounting for 40 percent of the number of units sold by the German brand.

    With 20 models, many assembled in Vietnam, Mercedes-Benz created sales gap with the rest of the luxury market.

    Toyota’s luxury brand Lexus recorded a sales surge of 157 percent year-on-year to 1,511 units in 2019.

    Sales of the only Asian luxury brand rose after plummeting in 2018 due to a government decree limiting car imports.

    Swedish brand Volvo recorded sales of 500 units last year, up 250 percent from 2018, with the most in-demand model being the compact crossover SUV Volvo XC60 priced at VND2.85 billion ($123,200).

    Sources said most other German brands like Porsche and BMW recorded increasing sales. Audi was the only brand with decreasing sales due to import challenges, a representative confirmed.

    Insiders say Vietnam’s fast-growing economy and expanding middle class, along with rising car discounts led to the sales surge last year.

    Manufacturers plan to export new models this year to Vietnam, giving customers even more luxury options.

    Auto sales in Vietnam last year rose 11.6 percent from 2018 to 322,322 units, with 58.8 percent of them locally-assembled, according to Vietnam Automobile Manufacturers Association.

  • Liverpool FC pop-up store opens in Vietnam

    Liverpool FC pop-up store opens in Vietnam

    Liverpool FC has partnered with CRC Sports to launch a merchandise pop-up store in Vietnam.

    Located at Estella Place shopping mall in District 2, the pop up offers fans a full range of New Balance replica kit as well as authentic Liverpool FC merchandise, apparel and fashion accessories.

    “Our new store in Vietnam will enable us to continue to expand our retail operations, so all our fans can enjoy authentic LFC experiences and purchase our whole range of official merchandise,” said Mike Cox, senior VP, merchandising at Liverpool FC.

    During the Liverpool FC store’s launch event, fans were given the opportunity to meet and take photos with former Liverpool forward Luis Garcia.

  • Typo Vietnam stores open as Australian stationer stretches its Asian reach

    Typo Vietnam stores open as Australian stationer stretches its Asian reach

    Typo Vietnam has launched its second store in Ho Chi Minh City, a month after making its debut in the country.

    Located at Crescent Mall, the new Typo Vietnam store features a wide collection of gifts, decor and travel accessories.

    The Australian stationery brand also offers special products featuring characters from Disney, Marvel and Star Wars.

    Opening last month, the first Typo Vietnam store is located at the new development Aeon Mall Ha Dong in the capital city of Hanoi.

    Founded in 2009, Typo operates more than 250 stores in 14 countries and regions, as well as an online destination that ships globally. It is owned by the Cotton On Group.

  • Masan Group to shutter hundreds of Vinmart stores

    Masan Group to shutter hundreds of Vinmart stores

    Vietnam consumer-goods company Masan Group says it plans to shut down hundreds of VinMart and VinMart+ stores it purchased from VinGroup last year.

    The company said they will open 10-30 new Vinmart supermarkets and close 100-300 Vinmart+ stores this year to focus on improving profitability of existing locations instead of following the program of massive expansion followed by the previous owner.

    Masan will shift its focus to supermarkets of less than 1500 sqm that bring the best revenue, cut inefficient supermarkets in Hanoi, Ho Chi Minh City, Nha Trang and Can Tho and expand into tier 2 cities and within Vincom shopping centres.

    The VinMart+ chain operated 2888 stores last year and had targeted opening 300 to 500 new stores while closing 150-300 less efficient stores.

    Post merger, Masan aims to increase VinCommerce’s revenue to more than VND42 trillion, a year-on-year increase of 64 per cent. Masan has spent an estimated VND5.4 trillion (US$233 million) to buy a controlling stake in VinCommerce, which runs VinMart and VinMart+ stores in 50 provinces and cities and 14 VinEco hi-tech farms.

    Meanwhile, VinGroup closed its VinPro chain of appliance stores on December 31 and has since announced the closure of a network of smartphone stores trading under the Vien Thong A brand. And this week, VinGroup said it was dropping plans to launch an airline as well as it seeks to focus its business on industrial categories – including cars (VinFast), and phones and flatscreen TVs (VinSmart) – along with its Vincom shopping centres and VinPearl resorts.

  • Heineken Vietnam pays $39.7 mln in back taxes and fines

    Heineken Vietnam pays $39.7 mln in back taxes and fines

    Heineken Vietnam Brewery has paid VND917.2 billion ($39.7 million) in back taxes and fines for a 2018 transaction.

    Singapore-based Heineken Asia Pacific Pte. Ltd. had, at the end of 2018, struck a deal valued at over VND4.8 trillion ($207.7 million) with the Heineken Vietnam Brewery. Under the deal, the Singaporean firm transferred its entire stake in its Vietnamese subsidiary to the latter.

    The tax payable on the deal was VND823 billion ($35.6 million), but Heineken Asia Pacific claimed it was exempt from paying it under the double taxation agreement signed by the governments of Vietnam and Singapore.

    However, the General Department of Taxation ruled that the tax had to be paid because the real estate value in the deal was over 50 percent of the assets involved in the deal.

    The department confirmed that it has received in full the payment of back taxes and fines.

    Another major FDI corporation, Coca-Cola Vietnam, has been ordered to pay VND821.4 billion ($35.4 million) in back taxes and penalties stretching back over nine years.

    The company, which has been suspected of engaging in transfer pricing fraud to evade taxes, has paid VND471 billion ($20.4 million), or 57.3 percent of the amount, at the time of writing.

    Vietnam collected VND18.8 trillion ($813 million) last year in back taxes and fines, according to the General Department of Taxation.

  • Vietjet Announces Five New Routes to Japan and Commences Two New International Routes from Can Tho

    Vietjet Announces Five New Routes to Japan and Commences Two New International Routes from Can Tho

    Vietjet has unveiled a total of seven new routes, further expanding its international flight network. This includes the announcement of five new routes linking Hanoi, Da Nang and Ho Chi Minh City to multiple destinations in Japan, and the commencement of two new routes connecting Can Tho with Seoul and Taipei.

    The announcement of the launch of five new routes between Vietnam and Japan took place at Furama Resort’s International Convention Palace in Central Vietnam on 13 January 2020, where Vietjet took part as a member of the Keidanren (Federation of Economic Organisations in Japan). The announcement ceremony during the Japan – Vietnam Bilateral Tourism Promotion Conference, which welcomed more than 1,000 delegates from Japan, including officials from Japan’s National Assembly, the Japanese government and leaders from major Japanese corporations. Vietnam’s Deputy Prime Minister, Vuong Dinh Hue, and the Secretary-General of the Liberal Democratic Party of Japan cum President of the Japanese-Vietnamese Parliamentary Alliance, Nikai Toshihiro, were among those that attended the ceremony.

    The five new routes, Hanoi – Nagoya, Ho Chi Minh City – Nagoya, Da Nang – Nagoya, Hanoi – Fukuoka and Hanoi – Kagoshima, are expected to commence operations in 2020. With a total of ten direct routes now connecting Hanoi, Ho Chi Minh City and Da Nang to Tokyo, Osaka, Nagoya, Fukuoka and Kagoshima, the new flights will continue to facilitate positive bilateral relations between Vietnam and Japan culturally and economically while contributing to Vietnam’s goal of attracting one million Japanese tourists in 2020.

    Vietjet has also inaugurated its first two international services connecting Can Tho, the hub city of the Mekong Delta region, with Taipei and Seoul. Attending the launch ceremony on the morning of 12 January 2020 at Can Tho International Airport were President of the Vietnam Fatherland Front Central Committee Tran Thanh Man, Chairman of People’s Committee of Can Tho City Le Quang Manh, Vietjet Managing Director Luu Duc Khanh, Vietjet Vice President Do Xuan Quang and other leaders from related Ministries, Departments and Authorities. During the event, Vietjet also donated to the Fund for the less fortunate of Can Tho City to usher in the Tet season for the less privileged.

    The Can Tho – Taipei route operates four return flights per week starting from 10 January 2020. The flight departs from Can Tho at 12.40 pm and arrives in Taipei at 5.10 pm. The return flight takes off from Taipei at 6.10 pm and lands in Can Tho at 8.55 pm. All in local times.

    The Can Tho – Seoul (Incheon) route will operate three return flights per week starting from 16 January 2020. The flight departs from Can Tho at 4.50 pm and arrives in Seoul (Incheon) at 11.55 pm. The return flight takes off from Seoul (Incheon) at 2.30 am and lands in Can Tho at 6.20 am. All in local times.

    Vietjet currently operates the greatest number of routes and flights to Can Tho International Airport, with seven domestic routes and two international routes. Since the first flight that commenced in 2014, Vietjet has contributed significantly to the transformation of Can Tho’s tourism industry with an average growth rate of 30 percent of the total number of tourists in the city each year.

  • Starbucks Vietnam opens new concept outlet at Ecopark

    Starbucks Vietnam opens new concept outlet at Ecopark

    Starbucks Vietnam has opened a concept store at a new urban development called Ecopark in Hung Yen, near Hanoi, its 63rd store in the country.

    Located at the heart of Summer Park, Starbucks Ecopark features a mixture of rural and modern aesthetics, creating “a space that seeks a sense of harmony with its natural surroundings and the buildings bold structure,” the company said in a statement

    “Starbucks Ecopark is our first store opening for 2020, when we set our seventh anniversary of Starbucks Vietnam,” said Patricia Marques, GM of Starbucks Vietnam. “I believe it will be a great gathering place for family and friends.”

    Designed by local company Vietnambuilding and built by Ecotech, the new Starbucks cafe’s exterior features wooden louvers across the entire ceiling. Inside, further linear forms can be found in a low island serving counter which gives unobstructed views to an angled bar behind.

    Nguyen Duc Hiep, chief architect at Vietnambuilding, said the designers incorporated the exterior brick into space and used natural materials such as wood finishes to amplify the atmospheric mood.

    “Respecting the present landscape and green trees is our first thought when visiting the site,” he said.

    “It is also a challenge for us when we want to propose an impressive construction without interfering with the landscape or removing any tree in the garden.”

    Starbucks did not explain why it defines the new outlet as a concept store. however, it does appear to take the third-place concept into a more natural, landscaped garden environment not possible in a mall or high-street location.

  • HCMC Lottery Company profits soar

    HCMC Lottery Company profits soar

    The HCMC Lottery Company Ltd. made pretax profits of over VND1.3 trillion ($56.29 million) last year, up 13.7 percent from 2018.

    Its revenues were up 15.2 percent to VND8.9 trillion ($385.4 million), it said in a release. Three percent of its revenues came from printing and rents.

    While traditional lottery tickets accounted most of the revenues, nearly VND500 billion ($21.65 million), or over 5.6 percent, came from a new scratch card that allows customers to know the results immediately.

    Scratch tickets are growing well, exceeding management expectations, but are limited by our printing capacity,” a company spokesperson said.

    The firm targets revenues of VND10.29 trillion ($445.6 million) and pre-tax profit of VND1.2 trillion ($51.9 million) this year. It is researching a new product recently approved by the Ministry of Finance, which will allow customers to choose their own numbers.

    It is expected to help regain market share from its main competitor, American-style computerized lottery firm Vietlott, HCMC Lottery said.

    The traditional lottery involves tickets with numbers printed on them and a top prize of VND2 billion ($86,500) after it was increased by 33 percent in 2018.

  • Car prices fall as supply rises

    Car prices fall as supply rises

    An abundant supply of imports, the introduction of new models and stiffer competition have pulled car prices down, industry insiders say.

    Toyota Innova, among the most popular multi-purpose vehicles (MPVs) in Vietnam, saw its price go down 13 percent year-on-year last month to VND771 million ($33,360).

    Industry insiders said the drop of VND100 million ($4,330) was unprecedented for this model. Innova only reflected a general trend, they added.

    Prices of the Toyota Vios sedan and the hatchback Kia Morning fell 13 percent and 12 percent, respectively. In the high-end segment, the prices of BMW cars fell 18.5 percent.

    Abundant supply is said to be one of the main factors behind the falling prices.

    Car imports in the first 11 months of last year doubled year-on-year to almost 133,700 units, most of them from Thailand and Indonesia. Models with the biggest sales, MPV Mitsubishi Xpander and SUV Toyota Fortuner, were all imported.

    Tightening credit from banks last year had made it more difficult for buyers, leading to an increase in inventory that had to be reduced by lowering prices. The introduction of new models was another factor.

    Vietnam’s newest car manufacturer VinFast also intensified competition in the market with its SUVs, sedans and hatchbacks.

    Auto sales in Vietnam last year rose 11.6 percent from 2018 to 322,322 units, with 58.8 percent of them locally-assembled, according to the Vietnam Automobile Manufacturers Association.

  • Live streaming becomes a growing livelihood in Vietnam

    Live streaming becomes a growing livelihood in Vietnam

    Broadcasting video games and selling goods using live-streaming is now a real profession in Vietnam, where a tech-savvy population lives and breathes social media. Pham Thanh Nam has been “shooting” people for a living for the last five years, not in real life, but in a game, he broadcasts to thousands of viewers every day.

    Nam, or Nam Blue, one of the most popular Vietnamese streamers of the first-person shooting game PUBG, broadcast his games on Facebook for six hours a day, and now has 1.5 million followers.

    The 29-year-old who has given up his business to focus entirely on streaming says: “A decade ago most Vietnamese would have said gaming has no future, but game streaming is now a job. Many people and I take seriously.”

    Industry insiders say top streamers in Vietnam earn thousands of dollars a month from followers’ donations and ads. Many companies, seeing the rising popularity of game streaming, are now paying streamers to promote their products to young consumers.

    This makes Nam one of an increasing number of Vietnamese choosing streaming as their profession amid the country’s increasing Internet penetration and e-commerce growth.

    Broadcasting games and selling products are currently the two most popular streaming jobs. Bre Miller, a product design manager at Facebook, said in June 2019 that Vietnam has among the largest number of people in the world watching live game streams.

    Last year Vietnam had 15 million esports players and 5.2 million people who regularly watched esports streams, according to digital platform developer Appota.

    Industry insiders estimate there are thousands of Vietnamese streaming games on Facebook, thanks to the rising interest in competitive gaming.

    Each of Nam’s streaming sessions gets around 500,000 views and a peak of two million. Nam’s followers surged 2.5-fold in just over a year.

    He also manages a group of 12 other streamers. His audience comprises mostly of males aged 24-35. They could become a supporter of his page by paying VND47,000 ($2) a month in return for exclusive content.

    This rising popularity of game streaming in Vietnam is aligned with the global trend. On Facebook Gaming, the streaming time grew by 210 percent last year to 356 million hours, according to live-stream production tool provider StreamElements.

    Dang Thai Son, marketing director of Appota, said the increasing popularity of live streaming and esports among young Vietnamese means they could gradually replace traditional forms of entertainment.

    Live shopping

    Commercial streaming is also gaining traction among Vietnamese shoppers.

    Hong Quan visits a fashion store in Hanoi’s Thanh Xuan District every day, not to shop for clothes, but to film them with a phone camera and stream the images to thousands of viewers.

    Since he constantly appears in the shop’s live videos and even offers discounts, the 20-year-old university student could be mistaken for the shop owner thought he is only hired to host live Facebook videos to market the goods.

    Quan, who has been doing this job for almost a year, says: “Streaming is not a usual job for most people, but I take it seriously. It offers good pay with short working time for a student like me.”

    On the Facebook news feed, a user can find dozens of live videos in which a variety of products like clothes, footwear, sunglasses, watches, and skin care products are presented, often by a host wearing an attractive outfit and with an enthusiastic and fun attitude.

    Sellers could appear on the stream themselves, or hire someone like Quan to sell the products for two or three sessions a day, each last 90-120 minutes.

    Quan is paid VND300,000 ($13) per session, but he is usually hired for the whole month for VND10 million ($434), which includes a commission on orders, the same amount an office employee might earn.

    “I could get shop owners 20-30 orders per session, adding to their revenues from the brick-and-mortar store.”

    Since Facebook introduced its live streaming feature in 2016 small businesses in Vietnam have been taking advantage of it to promote their products just like in China and Thailand.

    Vietnam ranks seventh in the world in the number of Facebook users, 58 million, according to U.K. advertising agency We Are Social.

    It accounted for 30.9 percent of e-commerce web traffic in Southeast Asia in the third quarter of 2019, second only to Indonesia, according to Malaysian market researcher iPrice Group.

    All this means small businesses can use live streams to reach new buyers and even as their main selling channel since it saves them the cost of listing on large e-commerce websites or buying expensive target ads.

    A streamer only needs a smartphone and a good Internet connection to do the job. Advanced streamers could buy a lighting kit to better showcase products. Once the streamer has ended the session, sales staff start making phone calls to customers to confirm orders.

    While setting up a stream is simple, doing it well takes great skill and effort. Thao Sang, a senior college student in Ho Chi Minh City who sells clothes, often has to talk non-stop for three hours to keep her audience interested.

    “There were times when I lost my voice or got sick after sessions.”

    Besides, there is pressure to achieve sales targets while women streamers say they have to suffer sexual and abusive comments to earn a salary of VND200,000-300,000 ($9-13) for a 90-minute session.

    But all the effort is worth it when customers place orders. Mai Hoa of Hanoi, an avid Facebook user, has in recent months been watching four or five live streams a day from her favorite shops to find clothes and accessories.

    Last month the 25-year-old received a 30 percent discount on a skin lotion and lipsticks for just sharing the stream with three public groups.

    “It took me less than a minute to place the order, and I received exactly what I wanted three days later. The physical shop was in Saigon, but it was also beneath my fingertips.”

    Buyers say real-time interaction is what they like most about live streams, as they can ask questions or make suggestions by just typing a comment instead of having to wait for hours or days after sending a message to an inbox.

    The engagement also benefits sellers since they can ask their audience to share the stream with friends and groups to increase their reach. Streamers often reward sharers with discounts or limited products, and can thus attract 250,000 views and 20,000 comments in a session.

    Communications expert Nguyen Ngoc Long says streaming has become trendy because Facebook prioritizes live streams more than texts and regular videos, and sellers love this because they can reach more people.

    Some companies have been using celebrities and social media influencers to promote their products on live streams.

    Even Singapore-based shopping giant Lazada has been using the live streaming feature since 2017. Its app has a LazLive section for Vietnamese sellers to promote their products.

    Long says, “Live streaming will continue to be popular in Vietnam for the next five to 10 years.”

  • Malware costs Vietnam $900 mln

    Malware costs Vietnam $900 mln

    Malware caused Vietnamese users damage worth VND20.89 trillion ($900.8 million) last year, up 40 percent year-on-year.

    The surge came with the rising number of computers contaminated with malware from advanced persistent threats (APT), according to a report released Thursday by Vietnam’s cybersecurity firm BKAV.

    The number of computers infected with malware rose 3.5 percent year-on-year to 85.2 million in 2019. This means 57.7 percent of computers nationwide were infected.

    Increasing virus infections occurred via email, from 4 percent of the 2018 total to 20 percent last year.

    Another reason for the high contamination is Vietnamese users’ habit of downloading files without checking the authenticity. Eight out of 10 computers were infected with malware because of this behavior, the report stated.

    Rising threats resulted in 1.8 million computers losing data last year, up 12 percent from 2018.

    A large-scale foreign attack last year saw the hack of devices via manipulation of weak passwords.

    The attack caused 420,000 computers to be infected with dangerous W32. Fileless malware, which BKAV experts say have “invisibility” as it does not leave behind traces on hardware like other malware.

    BKAV forecast malware would become increasingly dangerous this year as hackers use them for financial benefits, like accessing bank accounts.