Singapore-based Sea Ltd wants to expand to banking, financial services in Vietnam
Singapore-headquartered e-commerce and gaming giant Sea Ltd, known for e-commerce platform Shopee, plans to expand its operations in Vietnam into banking, financial services, and modern logistics,
Forrest Li, founder, chairman, and CEO of Sea Ltd made the statement at a meeting with Vietnamese General Secretary-President To Lam last Saturday, on the sidelines of the latter’s state visit to Singapore.
For his part, To Lam agreed with the proposal to deepen cooperation and encouraged Sea Limited to enlarge activities in Vietnam, such as e-commerce growth, support for small businesses with digital transformation and sales channels, and digital supply chains integration.
The nation’s top leader also urged Sea Limited to investigate more collaboration in data, digital technology, and artificial intelligence (AI) to assist Vietnamese vendors, household companies, and small businesses in expanding their market reach and improving their operating capabilities.
Additionally, he urged the organization to advance inclusive financial solutions in Vietnam, expand digital payments and financial services, and boost cross-border e-commerce.
Shopee was the largest e-commerce platform in Vietnam as of the end of 2025, with a market share of 56 percent, down from 64 percent in 2024, according to Vietnam’s e-commerce data analyzer Metric.vn. TikTok Shop came in second with 41 percent, an increase from 29 percent in 2024. Together, Shopee and TikTok Shop controlled almost all of Vietnam’s e-commerce market.
