YY Group Announces Strategic Entry Into Vietnam's Booming Labour Market Within The Hospitality Industry
Portfolio Pulse from Benzinga Newsdesk
YY Group Holding Limited (NASDAQ: YYGH), a company specializing in intelligent labor matching services and smart cleaning solutions, has announced its strategic entry into Vietnam's hospitality industry, projected to be worth $5.16 billion in 2024. Leveraging its technology and digital platform, YYGH aims to supply skilled manpower to Vietnam's hospitality sector, building on its success in Singapore and Malaysia. The YY Circle Super App, with 400,000 downloads and 150,000 active users, facilitates this expansion. Vietnam's hospitality market is expected to reach $9.91 billion by 2029, offering significant growth potential for YYGH.
May 02, 2024 | 12:39 pm
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YY Group Holding Limited announces strategic expansion into Vietnam's hospitality industry, leveraging its YY Circle Super App to meet the growing demand for skilled manpower. The market's projected growth to $9.91 billion by 2029 highlights significant potential for YYGH.
YYGH's strategic entry into Vietnam's hospitality market is a significant move, given the industry's projected growth and the company's successful track record in similar markets. The expansion is likely to be viewed positively by investors, as it represents a tangible growth opportunity in a new and rapidly expanding market. The use of their YY Circle Super App for manpower matching in the hospitality industry, combined with the market's robust CAGR, suggests potential for increased revenue and market share, contributing to a positive short-term impact on YYGH's stock price.
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