HA NOI (VNS) — MOL AccessPortal Sdn Bhd (MOL) will join pioneering Vietnamese e-commerce group PeaceSoft Solutions Corporation to acquire a 50 per cent stake in NganLuong JSC of Peacesoft's on-line payments unit.

To this effect, a joint venture agreement was signed yesterday.

MOL and Peacesoft will jointly operate one of the country's first online payment and escrow platforms together with other related e-payment services in Viet Nam.

"This is an excellent combination as MOL can bring their global networks of merchants into Viet Nam, while giving the opportunity for Vietnamese merchants and publishers to sell their products and content directly to over 12 markets through MOL's growing payment network" said Nguyen Hoa Binh, CEO of Peacesoft group and also chairman of NganLuong

Viet Nam is not only one of the fastest growing but also one of the largest internet markets in Southeast Asia with more than 31 million internet users. The opportunities for e-commerce and e-payment growth in Viet Nam were great, said MOL CEO, Ganesh Kumar Bangah. — VNS