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Vietnam’s online ad market lucrative in the eyes of foreign investors

Update: 07-05-2011 | 00:00:00

VietNamNet Bridge – It is expected that by 2013, Vietnam’s online advertisement market would have the turnover of 114 million dollars, local newspapers have reported, quoting foreign sources. 

The online ad market in Vietnam is relatively big, and Yahoo! can see business opportunities in the market with great development potentials. Yahoo! expects to see the double growth rate in 2011 in terms of online advertisements. These are the comments by Doan Thanh Huyen, a senior executive of Yahoo! Vietnam about the domestic online ad market.

  

The conclusion was made by Huyen after considering the analyses by market survey firms. The market surveyors said in 2010, the turnover of Vietnam’s online ad market reached over 25 million dollars, or 3.7 percent of the total budget for advertisements.

 

“It is expected that by 2013, Vietnam’s online advertisement market would have the turnover of 114 million dollars,” Huyen said, adding that Vietnam has been witnessing very high growth rates in the number of Internet users in the last few years, and it is very likely that Vietnam will have 17 million more Internet users in the next 10 years.

 

In Vietnam, Yahoo! now has many online ad clients, from mobile phone manufacturers and motorbike manufacturers, to confectionary groups, including Nokia, K+, Yamaha, LG or Kinh Do. Huyen said on Dau tu that the clients, who are shampoo, drink and detergent manufacturers have made the greatest contribution to Yahoo!’s online advertisement’s turnover.

 

This proves to be the reason that has prompted Yahoo! to strengthen the activities in Vietnam and to strive to provide more services on the market. Most recently, Yahoo!, for the first time, has organized an Asia-Pacific clients meeting in Vietnam, which gathered more than 120 leading advertisers in the world. A senior executive of Yahoo! has affirmed that from now to the end of the year, Vietnamese clients will be able to use many new services which are designed to fit Vietnamese market.

 

Not only Yahoo! pays attention to, and can see the development opportunities in Vietnam. In late 2010, high ranking executives of Google also said that they believed the online ad market in Vietnam will grow strongly.

 

At a workshop discussing the measures to boost exports held in HCM City on December 8, representative from Google South East Asia noted that the potentials in the online ad market in Vietnam are very big.

 

Thoi bao Kinh te Saigon has quoted Ghislain Le Chatelier, the representative from Google, as saying” that more and more export companies have become interested in popularizing their products and images with online ad tools.”

 

A wooden furniture manufacturer and exporter said at the workshop that online advertisements have many advantages if compared with traditional advertisement ways. Especially, it is less costly for enterprises to use online ads, than bringing products to introduce at international trade fairs and exhibitions. Meanwhile, the results of online advertisements can be easily measured.

 

The high ranking executive of Google said on Thoi bao Kinh te Saigon, that there are about 31 million Internet users in Vietnam and the figure has been increasing steadily, which shows that Vietnam is really a lucrative market.

 

Though the representative from Google declined to reveal the turnover from online advertisements and the development strategies, he said the growth rate in the market is big enough for Google to decide on making further investments in Vietnam in the time to come.

 

According to Dau tu, Ashamanov & Partners, a Russian partner, has decided to invest in the online ad market in Vietnam by signing a cooperation agreement on developing the ad services on search engines, one of the types of content ads. The Russian investor has also affirmed that Vietnam’s online market is still a fledgling, but is really potential for foreign investors to exploit.

 

(Vietnamnet)

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