TikTok Shop在越南加速前进｜SEA Now

Technology knows no boundaries, but it also has its own unique process. Here, we will review with you what events have happened in the field of science and technology Internet in Southeast Asia and other overseas regions this week (2024.04.08-2024.04.14).

Although TikTok Shop has encountered many storms in Southeast Asia recently, in Vietnam, the platform is also quietly exploding.

According to a recent data released by foreign media, the number of merchants and average sales of TikTok in Vietnam have tripled during 2023. At the same time, after entering the Vietnamese market in February 22, the report also pointed out that based on TikTok Shop's share of 67 million users in the local area, the platform has also become the second largest e-commerce platform in Vietnam, ahead of Lazada and second only to Shopee.

TikTok Vietnam officials said that one of the reasons for this explosive growth is that Vietnamese shoppers are becoming more accustomed to online shopping. Judging from the earlier data, this momentum may also be an inevitable embodiment. In the half year to March '23, TikTok Shop's GMV in Vietnam increased by 11 times, with the number of orders increasing by 6 times.

At present, some data point out that by 2025, the GMV of Vietnam's digital economy is expected to double from US$30 billion in 23 years to US$43 billion - and the explosion of e-commerce will provide a non-negligible growth momentum for this, and its share will also increase from US$16 billion to US$24 billion. And from this point of view, it is not difficult to expect that TikTok Shop will have more highlight moments from it.

Okay, without further ado, let's get to the point of this issue.

Industry & Dynamics

Malaysia's smartphone shipments surged by 10% in February 2024: According to data released by Canalys, in February 2024, Malaysian smartphone shipments increased by 10% to 687,000 units. In the fourth quarter of 2023, manufacturers took measures to increase sales volume and normalize inventories, creating room for growth in the first quarter of 2024. Driven by the peak of smartphone shipments in 2021 and the natural replacement cycle, the smartphone market will grow further in 2024.

Temasek opens office in Paris: Singapore's state-owned investment arm, Temasek, has further strengthened its investment in Europe, the Middle East and Africa by opening a new office in Paris on Wednesday. Temasek said the Paris office will work with the existing London and Brussels offices to enhance investment and collaboration opportunities. It is understood that this expansion also brings Temasek's footprint to 9 countries (involving 13 offices) around the world. As a backdrop, since 2011, Temasek's investments in EMEA have nearly fivefold to S$47 billion (US$34.73 billion) as of 31 March 2023, representing 12% of its portfolio.

VinFast to sell e-bikes in the U.S.: Vietnamese NEV company VinFast announced this week that it will sell its e-bike VF DrgnFly in the U.S. market by the end of this month. It was revealed that the bike is priced at $2,599 and has a range of 110 kilometers on a single charge and a top speed of 45 kilometers per hour.

Vietnamese authorities ask Netflix to stop providing game services by April 25: According to foreign media reports, Vietnamese authorities have told Netflix to stop promoting and providing video games in the country by April 25. The Vietnam Broadcasting and Electronic Information Administration (ABEI) said the directive was due to Netflix's lack of a gaming service license in Vietnam. It is reported that Netflix entered the gaming world with the launch of Netflix Games in November 2021. However, Vietnamese law stipulates that only companies that are locally incorporated and registered as video game services can provide this service in their country.

TikTok Shop's sales and average sales in Vietnam tripled last year, according to relevant reports, the number of merchants and average sales of TikTok in Vietnam tripled during the last year. TikTok Vietnam representatives said the surge in sales was partly due to the popularity of items such as VinFast motorcycles and Samsung phones, as local shoppers became more accustomed to online shopping. As a backdrop, as of the beginning of 2024, the number of TikTok Shop users in Vietnam has reached 67 million.

Malaysia to launch Single Window Scheme to Strengthen Startup Ecosystem: Malaysia's Ministry of Science, Technology and Innovation (MOSTI) is reportedly launching a project called the Single Window Initiative to strengthen the country's start-up ecosystem by streamlining processes and consolidating resources on one platform. Malaysia's Minister of Science, Technology and Innovation Chang Lih Kang said in a statement that the initiative aims to remove bureaucratic hurdles and speed up approvals, making it easier for entrepreneurs to navigate their entrepreneurial journey. According to the statement, Malaysia is committed to incentivizing the development of local start-ups and striving to become one of the top 20 start-up ecosystems in the world by 2030.

Investment and financing

Peptobiotics, an agritech company, raises $6.2 million in funding: Founded in 2020, Peptobiotics is committed to helping the livestock and aquaculture sector reduce reliance on antibiotic drugs through recombinant antimicrobial peptide technology. According to reports, the bioactive peptide is a natural bacterial inhibitory protein, which can achieve the same effect as antibiotic feed additives while avoiding bacterial resistance in the user.

Tyre ordering platform WYZauto secures $2.25 million in funding: WYZauto was launched in Thailand in 2021 and landed in Malaysia in May '23. According to reports, WYZauto aims to provide online procurement services for car owners and tire brands (covering two-wheeled and four-wheeled vehicles) through its online trading platform.

In terms of market performance, WYZauto noted that its platform has been downloaded by more than 3,000 vehicle service centers and can generate more than $1.6 million in GMV share per month. In addition, WYZauto also emphasized that the platform has accumulated the largest inventory of tires in Thailand.

Perspectives & Observations

From giants to cross-border integration, London is leveraging the second spring of artificial intelligence: on April 7, Microsoft announced that it will open a new artificial intelligence center "Microsoft AI London" in London for its recently launched consumer AI division, as a way to promote the team to work closely with partners such as OpenAI, promote the development of cutting-edge language models, and create the world's leading basic model tools. Meanwhile, Microsoft said Microsoft AI London will be led by former Deepmind co-founder and Microsoft AI executive vice president and CEO Mustafa Suleyman and AI scientist & engineer Jordan Hoffmann (Hoffmann also previously worked at Deepmind as a research scientist), and Suleyman will also report directly to Microsoft CEO Nadella.

So far, the world's top AI giants, including Google (via DeepMind) and OpenAI, have converged in the "old city" of London under the current wave of technological innovation with generative AI technology as the sail. From this point of view, it seems that the new chapter of artificial intelligence opened by London has only just begun.

activity

Call for Speakers|Leading Asia, Exploring a New Chapter of Climate and Low-Carbon Technology!: As Asia's top annual technology event, BEYOND Expo has always led the trend of industry development in the past three years, and the organizing committee is honored to invite a series of forward-looking guests, including:

Former Indonesian Finance Minister Bambang Brodjonegoro, Member of the United Nations Sustainable Development Goals Impact Global Steering Committee, Chair of the Social Value Investment Alliance, Director of Menglang Sustainable Digital Technology, Prof. Saifur Rahman, IEEE 2023 Chair, Siddharth Chatterjee, UN Resident Coordinator in China

and other heavyweight guests gathered together to discuss the challenges facing global sustainable development, and share experiences and strategies to promote low-carbon development, providing new ideas and directions for the participants, and injecting new vitality and impetus into the future development of the industry.

BEYOND WEEK|AWS DeepRacer Macau Super AI Racing Challenge, a feast of technology and excitement, May 25!: The AWS DeepRacer Macau Super AI Racing Challenge will be held on May 25, 2024 at The Venetian Macao's Cotai Expo and Convention Center. The competition aims to nurture local technology professionals, enable participants and Macao students to have a deeper understanding of artificial intelligence and machine learning, and at the same time encourage international visitors to participate in and experience Macao's science tourism, thereby enhancing Macao's image of technology development.

Say goodbye to DEMO DAY: A New Era of Extreme Rapid Investing and Win the "Battle of Chips" for 100 Investment Institutions: This year, BEYOND Expo will continue to expand its exhibition area and promote the deep integration of cutting-edge technology and the industry through exhibitions and summits. The investment and financing sector will also usher in a new upgrade. We will provide investment and financing docking services for scientific and technological innovation enterprises and investment institutions with more novel venue services, faster interactive methods, and cooler display stages.

「 Fund at First Pitch Expected to be invited 150 world-renowned investment institutions and investors

, provide high-quality project resources, and increase the opportunity for two-way choice, and build an efficient communication bridge between innovative enterprises and capital.