Vietnam

For the last several days I have been the guest of IDG Vietnam run by Le Thanh Tam who has to be one of the most hardworking and enthusiastic IDG country managers. The company was founded in 1992 with the launch of PCWorld. This week, IDG Vietnam hosted the CIO INDOCHINA CONFERENCE & AWARDS  and the Banking Vietnam conference. IDG has also made a major Venture Capital Commitment in the region through IDG Ventures Vietnam and is considering further investments.

IDG Ventures Vietnam, a limited partner of the International Data Group (IDG), is mulling over investing in two more Vietnamese enterprises, raising the number of Vietnamese enterprises that it has invested in to four.  Details about the two enterprises will be revealed on June 1, when IDG Ventures Vietnam will open its office in Hanoi. With $100 million under management, IDG Ventures Vietnam has a plan to invest $80 million in between 30 and 40 young Vietnamese enterprises. Of the capital, 30% will be invested in telecoms and mobile phone companies, 25% in software firms and 20% in e-commerce. "IDG will invest $500 million in Vietnam over the next 20 years," said IDG chairman Patrick McGovern. IDG Vietnam opened its office in Ho Chi Minh City on March 25, 2005. The first two Vietnamese enterprises that IDG Ventures Vietnam has chosen to invest in are Peacesoft and iSphere software companies.

I’ve been meeting with colleagues from our Asia Pacific Region, including representatives from China, Japan, Korea, India, Hong Kong, Malaysia, Phillipines,Thailand and Singapore. One of the central themes of the meeting is the growth of online and events  and the importance of the Asia Pacific region to our business in the years ahead. The dedication, enthusiasm, work ethic and just wonderful personalities of this group is impressive. I’ve shared ideas but received much more in return. Meetings such as this remind me of the global power of IDG as a provider of information on Information Technology. With the pace of change going on around the world, the decentralized culture of IDG provides us with an experimental environment on a worldwide basis that is hard to beat. It is amazing to learn first hand of the developments on mobile devices and broadband from colleagues from Korea and Japan.

I’ve been checking out blogging in Vietnam which is in its infancy but the momentum is starting  - see also Vietnam Journalism 

The trip over also gave me a chance to catch-up with Dan Gillmor on his way to the 12th World Editors Forum in Seoul coverage of which can be found here.

The importance of brand, content and community at IDG is a theme running through all our discussions. The power, trust and credibility of our brands is key but so is engaging our communities It was articulated well by Pat McGovern

“We regard ourselves as providers of information services. The most valuable information for us comes from other people, from the users. We create a community where people talk together. We focus not only on the distribution of information, but also, and more importantly, on sharing it.”

Pat’s vision and world view is unique. His diplomacy and ability to work with officials at the highest level is legendary but you’ve got to experience it in action to fully appreciate its impact !

Also impressive is Lore Harp-McGovern’s work as a director of Human Rights Watch which I got to learn more about during the 17 hour trip to Hanoi. I recommend you check out the work of this excellent organization.

The opportunity and growth in the Indochina region of is quite stunning as is the beauty of this region. The dinner tonight was at the Ly Club - a Vietnamese restaurant and theatre right in the heart of Hanoi - where a truly wonder banquet was accompanied by traditional music and performance art.

Vietnam is a definite for a vacation visit.

Comments

[chinaguy]

Amen. I have worked in China for 8 years in the tech/media field and my first trip to Vietnam was 2 years ago. It's economically where China was 10 years ago, and therefore lots of opportunities. Though the market is incredibly small compared to China, the food, culture, and people make it worthwhile to invest. I would argue that Saigon and the south are much more advanced than Hanoi and the north of the country and would put my dollars around Saigon.

[Colin Crawford]

Agreed, which is why we've also opened offices there. The whole region of Indochina, including Laos and Cambodia is really starting to open up. Goodness know what they will do once everyone gets a car !

[Hugo E. Martin]

Colin,

I can not agree more. Viet Nam it is a very fascinating country with professional, very eager and very friendly people. Hope Pat's and IDG investment works well for IDG and for Viet Nam!

Before the Asian crisis started, I did some publishing there and we had further plans in IT (CHIP) and Automobile business - until 1997. I always found good partner and well educated staff, committed to do the best job possible and learn from the rest of the world.

With some I'm still in contact ... and hope to go back there in the not so far future.

[Paul Woodward]

Colin - Greetings from Hong Kong. Very good to see Vietnam get some coverage. With 70 million+ people, it is one of the really under-exposed markets of SE Asia. Lots of potential there for all types of businesses and very little media activity has yet taken root, particularly from the international players.