Skip links

Markets in Vietnam returned to its vibrance in September

Masan expands to the telecommunications and digital service markets

Mobicast owns the virtual mobile network Reddi.

On September 21, 2021, a Masan subsidiary announced the acquisition of 70% of Mobicast shares. The total value of this transaction is 295.5 billion VND. Thereby, Masan officially expanded into the markets of telecommunications and digital services. Mobicast owns the Reddi virtual mobile network. This is the second virtual mobile network in Vietnam after Indochina Telecom. Reddi will enter the segment of young and modern customers. Through the mobile app platform, Reddi upholds the freedom of users’ experience and personalisation. This transaction is a step towards realising Masan’s “Point of Life” strategy. This strategy aims to digitise the retail consumer platform. This brings maximum convenience to consumers.

Vinfast penetrates the European markets

A VinFast’s showroom in the US

In the plan to enter the European and North American markets next year, VinFast has opened offices in these two regions. California is home to VinFast’s first showroom in the US. The carmaker will enter the German, French, and Dutch markets in 2022. After that, it will also enter Italy, Scandinavia, Switzerland, and Austria in 2023. VinFast also revealed its new battery technology. This technology allows charging to 80% in just 5 minutes. It uses nanoparticle anodes instead of the commonly used graphite. The carmaker has deployed and installed nearly 2,000 charging stations nationwide in Vietnam. It also signed cooperation contracts with nearly 700 locations, expected to provide about 40,000 electric car and motorbike charging stations for domestic users.

A Vietnamese NFT game raised $1.7 million

HeroVerse is a Vietnam-originated game.

HeroVerse is a blockchain-based game project headquartered in Vietnam. This NFT game project raised $1.7 million. DaoMaker, x21, AU21 Capital, Raptor Capital, IceTea Labs,… joined this funding round. HeroVerse is developed by Hiker Studio. This is a large online game company in Vietnam with 12 years of experience. HeroVerse is different from many “Play to Earn” NFT games on the market today. It attracts players with a “Play and Earn” model that balances entertainment and profits for players.

Leflair officially came back to Vietnam’s markets

Leflair’s mobile interface

At the end of June 2021, the Leflair e-commerce platform was officially acquired by Society Pass after an M&A deal. Society Pass is operating two Vietnamese platforms, Sopa and #Hottab. Leflair has started operating in the Vietnam market since September 2021, along with the new investor, Sopa. This branded e-commerce platform is recruiting a series of mid- and senior-level personnel. Leflair also officially partnered with TikiNow after two weeks of testing. This unit assumes the role of a forwarding partner.

JinkoSolar increases its investment in Vietnam

A solar panel is being manufactured in a JinkoSolar factory.

JinkoSolar is one of China’s largest solar panel manufacturers in the world. This manufacturer has increased investment in a second project in Vietnam. This $365-million project is invested by JinkoSolar Vietnam. This project is located in Song Khoai Industrial Park of Quang Yen Town in Quang Ninh Province. Vietnam is currently behind the US and China in the number of installed solar panels. 

Sources of information include Thanhnien, e27, Reuters, and VNExpress.