South Korean oil refiner GS Caltex Corp has bought an 11.56 percent stake in car-wash startup Vietwash for $1.7 million.
Nguyen Thanh Duong, founder of Vietwash, said the money would be used to double the number of outlets to over 100 in the next few years.
It now offers car and motorbike wash services at 51 locations in Ho Chi Minh City and central Da Nang City.
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A carwash outlet of Vietwash in Ho Chi Minh City. |
Hur Joon-hong, GS Caltex executive vice president, said his company would help Vietwash develop an automatic car maintenance system and expand.
Vietwash, which began operations in 2014, claims to be the first car-wash chain in Vietnam and serve 1.3 million customers a year.
In 2016 it received an investment of $1 million from private-equity firm Vietnam Investments Group.
GS Caltex has been selling vehicle lubricants in Vietnam since 2017.
Solutions conducted to support Bac Giang youth’s startup(BGO) - The Ho Chi Minh Communist Youth
Union in Bac Giang province and the Youth Union at the Ministry of Science and
Technology on September 17 held a meeting to discuss the solutions to support the
provincial youth’s startup in the period 2020 - 2022.
Online startup amid Covid-19 pandemic turns challenges into opportunities(BGO)
– The Covid-19 pandemic has developed complicatedly. After the Prime Minister ordered
the social distancing rule, many stores and service suppliers temporarily
close. In the difficult time, several youth in Bac Giang province take the new
trend of online startup with the support from modern technology.
Startup journies in “village of guest workers”(BGO) –The mountainous village of
Tam Di in Luc Nam district, Bac Giang province recalls the homeland of numerous
guest workers to Republic of Korea, Japan or Taiwan (China). Amid the huge wage
of working abroad, several youths decided to stay at home and make their own
start-up.
Source: VnExpress
