09-Mar-18, Nikkei Asian Review
Only a week after US e-commerce group Amazon.com revealed its intention to enter the Vietnamese market, Alibaba has made a counter-move to secure its own growth path in Southeast Asia's burgeoning e-commerce industry.
%20Reuters_Nikkei%20Asian%20Review.jpg "Alibaba counters Amazon in Southeast Asia (c) Reuters Nikkei Asian Review")
Image: Reuters / Nikkei Asian Review
The Chinese technology group said it would inject USD2 bn into its subsidiary Lazada Group, the Singapore-based online retailer, and would send one of its key executives to replace Lazada's founder CEO, part of moves to cement its leading position in Southeast Asia.
Alibaba currently owns 83% of the Singapore retailer.