In a recent development, Google established Google Vietnam Co., Ltd. on May 31, 2023, with a chartered capital of VND 140 billion, wholly owned by Google Apac Technology Pte. Ltd. (headquartered in Singapore)
This Vietnamese entity is based in M-Building, District 7, Ho Chi Minh City. Google Vietnam’s primary registered business is advertising, alongside various other fields ranging from management consulting, advertising, market research to general wholesale.
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Notably, Google appointed a female entrepreneur from Hai Phong as the “captain” of this entity. Ms. Hoang Thi Ngoc Diep, born in 1982, former Chairwoman of the Board of Directors of ABR Joint Stock Company (HOSE: ABR), was named the General Director of Google Vietnam. She is also a Member Lawyer and Chairwoman of DILINH Law Company LLC, alongside several other businesses operating in management consulting and logistics.
Ms. Diep served as the Chairwoman of the Board of Directors of ABR from April 2021. At that time, she was also the General Director of Quang Thai Development Joint Stock Company, and Quang Thai held 39.07% of ABR’s capital (equivalent to over 7.9 million shares). Prior to the establishment of Google Vietnam, she stepped down as Chairwoman of the Board of Directors of ABR on April 26, 2023, and left her position as General Director of Quang Thai in March 2023. Quang Thai Company also divested its entire stake in ABR following Ms. Diep’s departure.
A Significant Step
With the establishment of a local company, Google’s business operations in Vietnam have witnessed notable changes. From April 1, 2025, Google Vietnam will officially take over the entire management and advertising services from Google Asia Pacific Pte. Ltd., as per Google’s announcement.
Consequently, local clients and partners will be directly served by a local team, with invoices issued in VND and subject to the full 10% VAT as per Vietnamese law.
This development comes amidst promising business prospects in the country. According to the e-Conomy SEA 2024 report by Google, Temasek, and Bain & Company, released in November, Vietnam’s total goods value (GMV) is expected to reach a compound annual growth rate of 16%, hitting $36 billion by 2024.
Previously, in July 2024, Google also collaborated with the National Innovation Center (NIC) in the program “Shaping the Future of AI in Vietnam.”
Mr. Marc Woo, CEO of Google Asia – Pacific, believes that Vietnam’s digital economy could grow elevenfold by 2030, reaching $220 billion – equivalent to nearly half of the country’s current GDP, with AI playing a pivotal role in this development.
