Google opens company in Vietnam

Google's website updated information that domestic advertisers will carry out tax procedures through Google Vietnam Co., Ltd., instead of the previous Google Asia Pacific. The transition will be implemented from April 1. Meanwhile, partners will implement the 10% tax rate according to Vietnam's regulations from March 1.

"We now have a team on site to better serve advertising customers in Vietnam and support the country's digital transformation," a Google communications representative said, confirming the company's presence in Vietnam.

According to information on the tax code lookup page, Google Vietnam was established in May 2023, located in Ho Chi Minh City.

Marc Woo, Google's Managing Director for Vietnam and Asia-Pacific, also said he has moved from Singapore to Ho Chi Minh City. An office with the Google logo has also been set up in District 1, Ho Chi Minh City. The company is also recruiting for many positions related to Google Cloud, Applications and Games.

Vietnam is considered by Google to be a market with a strongly developing digital economy, among the top in Southeast Asia. In addition, users and the Government are also very interested in AI in 2024.

The e-Conomy SEA 2024 report released by Google, Temasek and Bain & Company in November showed that Vietnam's gross merchandise value (GMV) is expected to grow at a compound annual growth rate of 16%, reaching US$36 billion in 2024. The domestic online media industry alone is on track to reach US$6 billion, with a compound annual growth rate of 14% year-on-year, and is expected to reach US$11 billion by 2030.

"Vietnam's digital economy has maintained double-digit growth despite the global economic uncertainty," said Marc Woo. According to him, Vietnam's online media sector has the fastest growth rate in Southeast Asia and more and more Vietnamese developers are making a global impact with popular applications for users around the world.