15 027 opportunities in developing economies

A mission, including 52 businesses from the U.S., is scheduled to visit Vietnam this week to learn about the local market and seek business and investment opportunities. This is the largest-ever U.S. business mission to Vietnam. Ted Osius, president and CEO of the U.S.-ASEAN Business Council (USABC), told Tuoi Tre (Youth) newspaper on Monday that these U.S. firms will meet with the Vietnamese prime minister, National Assembly chairman, and ministers. Amazon is among the U.S. enterprises coming to Vietnam this week. Photo: Reuters Learning about Vietnam’s digital, green transformation potential According to Osius, USABC members stressed at a meeting with Vietnamese Prime Minister Pham Minh Chinh during his visit to the U.S. on the occasion of the ASEAN-U.S. Special Summit in May 2022 that they considered Vietnam a strategic market in the region and were committed to making investments in Vietnam and cooperating with Vietnamese partners for a long term. … [Read more...] about Biggest-ever US business delegation comes to Vietnam to seek investment opportunities

The interest rate hikes by the US Federal Reserve and other central banks that began to significantly accelerate in the second half of 2022 have impacted the tech industry and investors in significant ways. These hikes are expected to continue, at least in the short term, until the central banks are satisfied that inflation is under control or lose their nerve. When that happens is anyone’s guess. Eric Johnson, counsel at Freshfields Bruckhaus Deringer LLP This rapidly changing financial environment has made it more difficult for digital economy companies, especially those that are currently not profitable, to raise money in both public and private markets. Many investors have adopted a wait-and-see approach until the situation becomes clearer, and are revisiting the assumptions behind the sky-high valuations that many tech companies previously commanded. The recent failure of Silicon Valley Bank in the US has sent a shockwave through the tech and venture capital … [Read more...] about Supporting the digital economy space

Nordic countries, including Denmark, Finland, Norway, and Sweden, shared their experience in green solutions to a circular economy and waste management and policy implications for Vietnam at a seminar held in Ho Chi Minh City on Wednesday. The seminar was organized by the Embassies in Vietnam of Denmark, Finland, Norway, and Sweden and Fulbright University Vietnam to mark the occasion of Nordic Day 2023 (March 23). In his opening remarks at the seminar, Ambassador of Denmark to Vietnam Nicolai Prytz said with a long tradition of working together to find solutions to common challenges, the Nordic countries are proud to share their experience and knowledge with Vietnam. “We believe that sharing experience and best practices with our partners is essential to promoting sustainable development,” Prytz added. Meanwhile, Ambassador of Norway to Vietnam Hilde Solbakken highlighted the role of the private sector in promoting green innovation, saying, "In the Nordic region, we have seen … [Read more...] about Nordic countries share circular economy, waste management solutions with Vienam

The move comes amid concerns that this measure might undermine the competitive advantage of developing countries in attracting foreign investment through offering tax incentives. The global minimum tax was Pillar Two of the Organization for Economic Co-operation Development (OECD)’s base erosion and profit-shifting (BEPS) framework. To date, the solution drew the participation of over 140 countries and jurisdictions, including Vietnam, which aimed to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate through the establishment of a global minimum effective corporate tax rate of 15% for those with annual revenue of 750 million euros, starting from 2024. Do Van Su, Deputy Director of the Ministry of Planning and Investment’s Foreign Investment Agency, said the global situation was changing rapidly with unpredictable and complicated developments, negatively affecting the economic prospects and budget revenues of … [Read more...] about Vietnam to develop policies to adapt to global minimum tax

The Nordic Embassies in Vietnam (Denmark, Finland, Norway, and Sweden), have co-operated with the Ho Chi Minh National Academy of Politics to share their experiences on green solutions for circular economy and waste management and policy implications for Vietnam at a seminar held on March 23 in Hanoi. The Nordic Embassies in Vietnam share their experiences on green solutions for circular economy and waste management and policy implications for Vietnam at a seminar held on March 23 in Hanoi. The event, which was held in honor of Nordic Day 2023, aims to provide insight into Nordic policies, initiatives, and innovation in green transition, which can be relevant and applicable to Vietnam in eliminating waste and pollution, circulating products, and regenerating nature. Organised for the fifth time, the event is attended by policymakers from central and local government agencies; representatives from chambers of commerce; business leaders, startups, innovators; … [Read more...] about Nordic countries share solutions for circular economy and waste management

Naomi Kitahara, the United Nations Population Fund (UNFPA) Representative in Vietnam, speaks to Vietnam News reporter Thu Trang about the milestone of Vietnam's population passing 100 million next month, and the challenges and opportunities that this will bring. Naomi Kitahara. — Photo courtesy of the UNFPA What do you think about Vietnam's population passing 100 million people next month? In comparison with other countries in the region and the world over, how will be Vietnam’s population scale? Vietnam’s population will soon reach 100 million and Vietnam will become the 15th most populous country in the world. This should be seen as an important milestone for Vietnam, and I would like to congratulate the Government of Vietnam as this demonstrates a story of triumph. Vietnam, which was once a war-torn country, has successfully taken a substantial number of people out of poverty, and achieved remarkable socio-economic growth including health, education, … [Read more...] about Population of 100 million provides many great opportunities for Vietnam: UNFPA

As many as 52 large firms of the Unite States, including Boeing, Coca Cola, SpaceX, Netflix, and Apple, have come to Vietnam to seek cooperation opportunities in various fields. Representatives of the US - ASEAN Business Council and US firms at a working session with the Ministry of Planning and Investment. This is the largest US business delegation ever to come to Vietnam at a time when the two countries are celebrating 10 years of their comprehensive partnership. The trip is to show US businesses’ commitment to investing in Vietnam, said Marc Knapper, Ambassador of the US to Vietnam, at a press briefing on March 21. According to the diplomat, Vietnam is a potential market with many business opportunities, especially when bilateral relations are developing positively, with their trade expanding vigorously over the years. Sharing the view, Ted Osius, president & CEO of the US-ASEAN Business Council (USABC), noted US firms have a greater interest … [Read more...] about More than 50 US firms sound out investment opportunities in Vietnam

The ultimate goal is for Hanoi to become the capital of Culture - Civilization - Modernity, embodying high standards of culture and creativity and achieving a harmonious balance between tradition and modernity. Vice Chairman of the Vietnam Association of Historical Sciences Nguyen Quang Ngoc told The Hanoi Times his view on the capital’s cultural development ahead of the scientific conference “Promoting Cultural Values and Resources toward Developing a Modern – Cultured – Civilized Capital” held today [March 21]. Vice Chairman of the Vietnam Association of Historical Sciences Nguyen Quang Ngoc. Photos: Lai Tan How would you assess the resources available in the capital and its recent efforts to promote cultural values? The Vietnamese Cultural Outline (1943-2023) firmly established the importance of culture. At the first National Cultural Conference held on November 24, 1946, Uncle Ho stated that culture should be a guiding light for the nation. … [Read more...] about Hanoi spearheads country’s cultural development

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) on Monday announced that it has entered into an agreement with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) - a subsidiary of Sumitomo Mitsui Financial Group, Inc. (SMFG) – to issue 15 percent of equity stake through a private placement, officially welcoming SMBC as a foreign strategic investor of the bank. The investment from SMBC will help the bank raise VND35.9 trillion, or approximately US$1.5 billion, of Tier 1 capital, increasing its owner equity to around VND140 trillion from VND103.5 trillion. This comes as part of the capital raising plan that VPBank has been implementing during 2022-23 in order to enhance its long-term financial strength and support the bank to reach ambitious growth strategy over the next five years. Following the latest SMBC’s strategic investment, VPBank will become Vietnam’s second largest bank in terms of owner equity, which allows it to serve a wide range of customer needs in various … [Read more...] about Vietnam’s VPBank announces agreement to issue 15% of its charter capital to Japan’s SMBC

Cuong said that the potential for cooperation between Vietnam and the U.K., the first country in the world to institutionalize the net-zero emission target, is huge, as like the U.K., Vietnam has a long coastline and great solar power potential, especially in the Southern and South central regions as well as in the territorial waters in the South of the East Sea. Vietnam can learn from the experience of the U.K., the world leading country in clean energy, in many aspects, including policy. The U.K. has applied the Contract-for-Difference (CfD) mechanism to support businesses to develop wind power projects, which has been effective in the past 10 years. Vietnam can also partner with the U.K. in personnel training as the U.K. has leading universities in the field of clean energy. Meanwhile, Vietnam can learn from the U.K.'s measures to attract investment from world giants and build a system of industries and supporting industries for the renewable energy sector, thus become ready for … [Read more...] about Vietnam, U.K. see huge cooperation potential in clean energy development