Whether this is enough to mount a serious challenge to the web giant remains to be seen
I usually use Google to search for Vietnamese sources, even without using diacritical marks, with great success.
The problem is < www.alibaba.com > and when you go there it is presenting the whole spectrum of countries with China usually first, which isn't much use when you are sourcing in VietNam.
There is another web site I use for VN and that is < www.PanPages.com > which indexes suppliers both with and without web sites which is very beneficial since Vietnamese don't usually use the InterNet for sourcing. Often, to source something you have to use reverse and lateral techniques.
Even the countries largest supermarket, which has weekly paper-based promo's, doesn't up date it's web site every week.
For example, I needed to locate someone with a polycarbonate heating oven. I inquired of a polycarbonate wholesaler and learned from them the name of a polycarbonate manufacturer. Contacting the sales department, and explaining my dilemma, they gave me a few names of their customers who were volume purchasers. After contacting three, I located one with an oven of sufficient capacity.
I think Wada has a good chance of success as even manual sorting/categorising is cheap over here given the salaries paid.
I have a CNC shop offering laser and water jet cutting and we have recently gone to 24/7 operation as business is so good - all without a web presence - and I am a partner in a web site authoring company! We simply cannot handle more work without a new premises.
WADA filling a needed void!