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Alibaba, Warburg Want Piece of Vietnam’s Online Boom

Startups focus on building loyalty among skeptical consumers
Nation’s digital economy forecast to reach $52 billion by 2025

WATCH: The epidemic has given digital retail a boost. Vietnam’s digital economy is forecast to grow to $52 billion by 2025, luring e-commerce giants like Alibaba and Amazon. Bloomberg’s @ngxuanquynh reports from Hanoi.(Source: Bloomberg)

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By John Boudreau and Nguyen Xuan Quynh

June 1, 2021 at 9:00 PM UTC

Updated on

June 2, 2021 at 11:27 AM UTC

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Weaving through congested Ho Chi Minh City on his Honda motorbike, Ho Duc Quang zips past a statue of the city’s namesake revolutionary leader and the warren-like Ben Thanh Market to drop off toys, books and other packages to customers of online retailer Tiki.vn.

Quang, 25, needs to be quick, since Tiki guarantees two-hour delivery to its express service customers in Vietnam’s metropolis. He uses AirPods to let customers know he’s about to arrive, but there’s one thing slowing him down: Quang has to wait for customers to open packages and confirm everything is correct before speeding off on his next delivery. It’s a must for many Vietnamese still unsure if they can trust e-commerce merchants.