This is the first post of “Now in Vietnam“, where TechNode visits Vietnam’s leading companies, to explore the next startup ecosystem to emerge among Southeast Asian countries. Vietnam’s GDP growth could surpass China by 2020 according to Turicum Investment Management

Vietnam is now following the footsteps of China to bring physical retailers to go online. Just like how Alibaba helped China to become the best mobile payment, nearly 50 times greater than those in the US last year, NextTech is becoming a gateway in Vietnam to digitize traditional business into e-commerce. Apart from its mission, NextTech has many similarities with Alibaba, such as its focus on e-commerce, starting in the similar period of the early 2000s, and investor SoftBank.

“As you stroll the streets in Hanoi, you find out the most of the shops on the street are traditional ones. We want to digitize them and create a platform for commerce, fintech, logistics, incubation, and investment,” Nguyen Hoa Binh, chairman of NextTech told TechNode.

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com