VTP is the second largest postal company in Vietnam with a 21% market share in 2016. VTP’s revenue recorded a 41% CAGR during 2013-2017 thanks to its exposure to e-commerce. E-commerce-related services account for c.55% of VTP’s total revenue currently. Over the last three years, e-commerce sales in Vietnam have rocketed ~87% p.a., per Temasek and Google research.