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Nguyen Tuan Anh, CEO of Grab Financial Group Vietnam, talks about strategies to help start-ups expand their markets at a recent event in HCM City (Source: VNA) HCM City (VNS/VNA) - Overcoming human resources problems, understanding local cultures and finding reliable partners are needed for Vietnamese start-ups to “go global,” the CEO of Grab Financial Group Vietnam Nguyen Tuan Anh has said. Speaking at a recent boot camp, a start-up training programme organised by VnExpress.net, Anh said reaching out to the world was not optional but imperative for a start-up to succeed. “You may not go global right away, but you must have a vision to do it in the next five to 10 years. “Vietnamese start-ups must conquer the global playground to increase the value, revenue and profit.” Anh was one of the first employees of the giant ride-hailing service when it entered the Vietnamese market in 2014 on the heels of its success in four other Southeast Asian countries, … [Read more...] about Start-ups must ‘go global’, says Grab’s Vietnam chief

Out of the 154 fintech startups, 37 operate in payments, 25 in P2P lending and 22 in blockchain and crypto and remittance, according to a survey by the Banking Technology Development Research Institute (BTI), National University of Ho Chi Minh City, released at a fintech conference in HCMC on Monday. The rapid growth of fintech has transformed the financial and banking sector by offering consumers more convenient products and services. Fintech companies in Vietnam are likely to continue encroaching on the retail market share of traditional banks, with peer-to-peer lending, e-wallets, payment and cashless payments becoming an integral part of everyday life, the report noted. However, areas such as asset management, liquidity management, investment management, insurance, and automated advisory services are still in their infancy, it added. Hoang Cong Gia Khanh, director of BTI, said: "Because 70 percent of Vietnam’s fintech companies are still startups, it will be difficult to … [Read more...] about Vietnam fintech sector in the fast lane

At the 3rd High-level Meeting and 1st Stakeholder Forum of the VEPG in Hanoi on December 10 (Photo: VNA) Hanoi (VNA) – As many as 40 policy recommendations for a sustainable energy future in Vietnam were introduced by the Vietnam Energy Partnership Group (VEPG) at the 3rd High-level Meeting and 1st Stakeholder Forum of the VEPG in Hanoi on December 10. The recommendations focus on five areas of renewable energy, energy efficiency, energy sector reform, access to energy, and energy data and statistics. According to Rainer Brohm, an international coordinator of the VEPG’s Secretariat, the VEPG Technical Working Groups have worked to give support in solar feed-in tariff (FIT) price and revised solar power purchase agreements (PPAs), as well as rooftop solar power programme in Vietnam. Besides, they also helped Vietnam develop electricity wholesale market and Direct Power Purchase Agreements (DPPA). However, more works need to be done to connect renewable energy to the … [Read more...] about Forum looks into sustainable energy development in Vietnam

Production at the Hoya Glass Disk Vietnam Company in Thang Long Industrial Park, Ha Noi. The capital city attracted $7 billion in FDI in the first 11 months this year. — Photo kinhtedothi.vn Ha Noi attracted the most foreign direct investment (FDI) in Viet Nam during the first 11 months of this year with US$7 billion, accounting for nearly a quarter of the total, according to the Ha Noi Department of Planning and Investment. This figure was higher than the $6.3 billion registered in the same period last year. Total registered investment capital for new projects and additions to existing projects reached about $2.1 billion, including $1.6 million for 788 new projects and $580 million for 160 existing projects. During the 11 months, foreign investors poured $5.3 billion into Ha Noi through capital contributions and share purchases. Foreign investors have chosen Ha Noi thanks to its good infrastructure, completed industrial zones and convenient transportation. The capital is one of … [Read more...] about Ha Noi attracts highest FDI in 11 months

At the wrestling festival  According to Deputy Chairman of the commune’s People’s Committee Nguyen Manh Ha, the 5-day wrestling festival contributes to enhancing sportsmanship and physical practice, and best wrestlers would be chosen for coming big tournaments. The festival often starts with a match between two young wrestlers. Hong Ha commune is the birth place of a number of wrestlers with outstanding achievements in different competitions. According to a legend, King Ly Nam De (503-548) chose the commune as a place to enlist and train naval troops. At that time, wrestling practice helped better both generals and troops’ strength. Gradually, such an activity was multiplied to other localities, attracting an increasing number of youths in the region. There are two ways to win a wrestling match: making rivals flat on their backs or lifting them off the ground. These regulations are somewhat different from international ones. For Hong Ha commune’s … [Read more...] about Traditional wrestling festival of Hong Ha commune opens