To: Paul Engel who wrote (104735 ) 6/22/2000 4:52:00 AM From: Paul Engel Respond to of 186894
Intel and Compaq say "Let Saigons be Bye-gones" "Compaq Computer Corp. [NYSE:CPQ] and Intel Corp. [NASDAQ:INTC] have joined with Vietnam's VASC (Value Added Service Center) to establish a Vietnamese electronic marketplace for local businesses. The B2B marketplace will be Internet-based, built on Intel hardware, and with software written by VASC - an IT services subsidiary of state-owned Vietnam Posts and Telecommunications Corporation (VNPT). " Paul {==========================}newsalert.com June 21, 2000 21:02 Computer Giants Join Vietnamese B2B Venture HANOI, VIETNAM, 2000 JUN 21 (NB) -- By Adam Creed, Newsbytes. US-based computer giants Compaq Computer Corp. [NYSE:CPQ] and Intel Corp. [NASDAQ:INTC] have joined with Vietnam's VASC (Value Added Service Center) to establish a Vietnamese electronic marketplace for local businesses. The B2B marketplace will be Internet-based, built on Intel hardware, and with software written by VASC - an IT services subsidiary of state-owned Vietnam Posts and Telecommunications Corporation (VNPT). Local companies will be able buy or sell products over the Internet. While business-to-consumer transactions are attractive to the partners, Intel believes that Vietnam is at an early stage of e-commerce and lacks the Internet, banking and regulatory infrastructure necessary. News service VNS quotes a VASC executive saying that the Vietnamese state-owned banks are too slow to respond to changes in world business practices, although there is hope awareness is growing. "In fact, they are reluctant to participate in our e-market due to their low awareness of the concept as well as poor technological capabilities," the VASC executive said, adding that it would take Vietnam a long time to develop e-business as most companies face a shortage of finance, poor infrastructure, a poorly developed banking sector and a lack of legal safeguards. Reported By Newsbytes.com, newsbytes.com