In brief: Vietnam will task three local tech firms to take market share from Facebook

The government has been drafting a code of conduct for the internet to “build a healthy and safe network environment.” In September, minister of information Nguyen Manh Hung said Vietnam should promote homegrown social media networks to compete with the likes of Facebook.

Three Vietnamese firms would be assigned the task of increasing the market share to 50 percent: a messaging app called Zalo, owned by VNG Corp; a video-sharing platform called Mocha; and an online publisher, VCCorp, which runs several news and e-commerce websites.

Source: Reuters