VNG faces difficulties this year due to Zalo Shop and Zalo Bank VNG JSC – a local game developer with market capitalisation of about $2.2 billion – this month integrated Zalo Shop and Zalo Bank into its Zalo application, allegedly without getting a license to actually launch them. The legal issue was disclosed by Dang Hoang Hai, head of the Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade (MoIT), who said that Zalo qualifies as an e-commerce application under Article 3.4 of 2015 Circular No.59/2015/TT-BCT outlining the management of e-commerce activities via applications and mobile equipment. “Therefore, Zalo is responsible for registering for a licence at the MoIT,” he said. So far, VNG has integrated six features into its Zalo platform since 2018 – Zalo Food, Zalo Travel, Zalo Taxi, Zalo Bank, e-Government, and Zalo Shop with the aim of becoming an all-in-one application. However, to date, the legitimacy of several of those features is unclear and VNG has so far refused to react to queries on the matter. While only bringing the issue to the public now, iDEA had already contacted VNG three times last year and sent its legal representative to the authority to clarify… Read full this story
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