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Tech unicorn VNG to list on UPCoM

Vietnamese tech giant VNG Corporation is finalizing its list of shareholders to prepare for a listing on the Unlisted Public Company Market (UPCoM) exchange.

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Towards this, it has asked shareholders to complete their transactions before 5 p.m. November 28. All further transactions will be delayed until its shares are up on the UPCoM, an exchange set up to encourage companies to list their stocks.

UPCoM is one of three bourses in Vietnam, of which the Ho Chi Minh Stock Exchange (HoSE) is the biggest with the highest criteria. It requires a company to post profits within the previous two years to list.

VNG, however, posted a loss of over VND70 billion last year.

The unicorn, a startup with a valuation of more than $1 billion, has also announced that its three foreign shareholders, Tenacious Bulldog Holdings Limited, Prosperous Prince Enterprises Limited and Gamevest PTE, have reduced their stakes to below 5% each.

Tenacious Bulldog and Prosperous Prince had a 28.46% stake in VNG, while Gamevest had an 8.14% stake.

The listing on UPCoM is an unexpected move by VNG, given that it had earlier announced plans to list on NASDAQ.

In the first nine months of the year, VNG posted losses of over VND764 billion.

Founded in 2004, VNG operates Zalo, a highly popular messaging and social network platform in Vietnam.

Source: VnExpress

Source: https://e.nhipcaudautu.vn/tech/tech-unicorn-vng-to-list-on-upcom-3349253/

Sci-tech-environment

Vietnamese spends $1.1 billion on food delivery apps

In Vietnam, overall spending on food delivery services reached $1.1 billion in 2022. As of now, the most popular services are Grab and ShopeeFood.

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According to Momentum Works, Southeast Asian nations’ total expenditure (GMV) on food delivery services in 2022 reached $16.3 billion, up 5% following two years of a delivery boom due to Covid-19.

For the first time in three years, growth in the area was mostly driven by small-scale markets such as the Philippines (up $0.8 billion), Malaysia (up $0.6 billion), and Vietnam (up $0.3 billion).

As Covid-19 became an endemic illness and economies reopened, GMV in bigger markets such as Singapore (down $0.4 billion), Thailand (down $0.4 billion), and Indonesia (down $0.1 billion) dropped.

Grab and ShopeeFood are the two most popular applications in Vietnam, with 45% and 41% of the GMV market share, respectively. The remainder is split between Baemin (12%) and Gojek (2%).

As of the end of 2022 in Southeast Asia, Grab’s GMV is estimated to reach $8.8 billion, accounting for 54% of overall GMV in the area and rising by 16% year on year.

Foodpanda is estimated to contribute $3.1 billion, accounting for 19% of the region’s GMV and reflecting a 9% decrease; Gojek and ShopeeFood still maintain the same GMV level in 2021, reaching $2 billion and $0.9 billion respectively.

Source: ZingNews

Source: https://e.nhipcaudautu.vn/tech/vietnamese-spends-11-billion-on-food-delivery-apps-3350239/

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Sci-tech-environment

Apple to begin producing MacBooks in Vietnam by the mid-2023: Nikkei Asia

The American tech giant Apple plans to shift some MacBook manufacturers to Vietnam for the first time in 2023 as tensions between Washington and Beijing over technology continue to rise.

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According to Nikkei Asia, Apple has contracted with Taiwan’s Foxconn to begin producing MacBooks in the country of Southeast Asia in May 2022.

For all of its key product lines, Apple has been seeking to build production facilities outside of China. Still, the final one, the MacBook, it has taken longer due to the intricate supply chain required for producing laptop computers.

Almost two years ago, the company has planned to move some MacBook manufacturers to Vietnam, where a trial production line has already been set up. 

Apple produces between 20 and 24 million MacBooks annually, with factories situated in the Chinese cities of Chengdu, the Sichuan area, and Shanghai.

For China, the loss of control over MacBook manufacturing represents a general deterioration in its role as the world’s factory. 

Since former U.S. President Donald Trump began a trade war against China, major electronics manufacturers like Apple, HP, Dell, Google, and Meta have all announced at least some preparations to relocate production and sourcing away from the nation.

The majority of data center servers manufactured for companies with U.S. customers, including Google, Meta, Amazon, and Microsoft, are now produced in Taiwan, Mexico, or Thailand.

Apple has regarded China as its most significant assembly base for many years, but in 2022, that successful formula ended. 

Due to a lengthy COVID lockout in the spring, important MacBook and iPhone production facilities in Shanghai experienced significant interruptions. 

Apple issued a warning in November on delays in the premium iPhone 14 Pro and 14 Pro Max’s Christmas deliveries, citing labor shortages caused by the epidemic at its most significant production facility in Zhengzhou, Henan province.

AirPods, which began commercial manufacturing in Vietnam in 2020, served as the catalyst for Apple’s expansion into that country. Nikkei Asia was the first to reveal that the business moved some of the production of Apple Watches and iPads there this year. 

Source: Nikkei Asia

Source: https://e.nhipcaudautu.vn/tech/apple-to-begin-producing-macbooks-in-vietnam-by-the-mid-2023-nikkei-asia-3350198/

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Sci-tech-environment

Saigon hi-tech park earns $23 billion from exports

The Saigon Hi-Tech Park (SHTP), home to 162 projects worth over $12 billion, obtained $23 billion from exports in 2022.

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The export turnover was more than $10 billion and $20.9 billion in 2017 and 2021, respectively.

According to Le Thi Bich Loan, deputy head of the SHTP management board, the park has become a trustworthy destination for global high-tech powerhouses with the presence of over 10 international conglomerates in the field, including Intel, Jabil, Rockwell Automation, Nidec, Nipro, Samsung, and Sonion.

Established in 2002, the park has seen its accumulated production value reaching $120 billion so far. It now houses 51 foreign-invested projects worth $10.1 billion.

By 2025, the SHTP aims to become a smart technology park and the core of the interactive and innovative urban area in Ho Chi Minh’s eastern part, contributing to the city’s socio-economic development. In addition, it plans to attract investment of around $3 billion in 50 hi-tech projects and establish at least one global hi-tech enterprise.

To achieve these goals, the park is going to accelerate investment projects for its scientific space with a total surface area of 93ha.

It will increase the link between its enterprises and universities and research institutes in the region, especially the Vietnam National University-HCM City (VNU-HCM), in order to increase the proportion of hi-tech products by domestic companies.

Source: VietnamPlus

Source: https://e.nhipcaudautu.vn/tech/saigon-hi-tech-park-earns-23-billion-from-exports-3349916/

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