Ascend vietnam ventures

Vietnam only currently boasts wind farm projects in operation near the shores. Meanwhile, offshore equivalents are rather new. What does your company consider the challenges to be in the energy transition in the Vietnam market? Riccardo Felici, country manager for renewables consultants OWC Vietnam Every emerging market has challenges to overcome, and these cover different sectors of the industry. Our benefit is to have seen these challenges in several emerging markets such as Taiwan, Japan, South Korea, and Poland. The main challenges that can be foreseen for a truly offshore industry development are policy stability, including remuneration schemes, power grids, and supply chain. Offshore projects are complex projects developed from several miles up to a hundred miles off the coasts. The benefit is better wind resources and larger spaces that allow for very large turbines to be installed. As the size of the projects is significantly larger than onshore projects, … [Read more...] about Localisation the key for offshore venture victories

Vietnam Airlines signs a strategic cooperation agreement with T&T Group and SHB Bank (Photo: VNA) Hanoi (VNA) - The national flag carrier Vietnam Airlines has signed a strategic cooperation agreement with T&T Group and SHB Bank; and a Memorandum of Understanding (MoU) with T&Y SuperPortTM - a joint venture between T&T Group and YCH Group of Singapore. The agreements are expected to not only boost business efficiency and affirm the position and competitiveness of the signatories but also contribute to expanding the strategic cooperation between Vietnam and Singapore. Under the deals, the parties will prioritise using each other's products and services and jointly exploit the potential and strengths of each party to create outstanding synergistic values for the Vietnamese businesses and economy. Vietnam Airlines will provide international standard air transport services on the basis of promoting its strength as a modern fleet of over 100 aircraft , and its … [Read more...] about Vietnam Airlines expands partnerships to boot multi-sector business

Danny Le, CEO of Vietnam’s Masan Group, shared some insights on how the group could successfully achieve digital transformation and gave advice on where businesses should start to accomplish such goals. The COVID-19 pandemic changed consumer behavior and accelerated the digitization process, and the most resilient businesses are those that quickly applied necessary technology to boost their digital transformation. During the discussion session on developing the digital economy at the Business Forum 2022 organized by Forbes Vietnam, CEO of Masan Group Danny Le shared some insights on where businesses should start in their journey to achieve digital transformation. Where to start? Starting as a fast-moving consumer goods company, Masan entered the retail sector in 2019 and aims to transform into a consumer technology business in 2022. However, the technology factor is not enough to become an independent business model at Masan because it does not create enough of a use case … [Read more...] about Vietnam’s Masan focuses on digital transformation to boost consumer retail

The region’s largest market was Indonesia with an estimated $1.6 billion annual turnover. Thailand came in second with $749 million, according to a study by Singapore-headquartered venture outfit Momentum Works and digital payments solution firm Qlub. Turnover in the Southeast Asian market last year accumulated to $3.66 billion, it added. As of April 2022, Vietnam had 439 bubble tea shops, with over half located in Ho Chi Minh City, a survey by German data portal Statista and Vietnamese market researcher Q&Me showed. Bobapop, a local brand, was the leader in terms of locations with 89 stores. It was followed by three foreign players, Tiger Sugar (48 stores), The Alley (47) and Gong Cha (42). … [Read more...] about Vietnam third largest market for bubble tea in Southeast Asia: study

Solar panels of a power plant in Vietnam (Illustrative photo: NA) Tokyo (VNA) - JERA Inc. , a power generation company of Japan , has signed a deal to buy a 35.1% stake at Vietnam’s Gia Lai Electricity Joint Stock Company (GEC) to tap the Southeast Asian nation's growing demand for electricity and further its own decarbonisation efforts, Nikkei Asia reported. JERA, a joint venture between Tokyo Electric Power and Chubu Electric Power, will invest 15 billion JPY (112 million USD) in the Vietnamese renewable energy company. The purchase comes as JERA aims to increase its renewables generation capacity to 5,000 MW by 2025. The stake in GEC will add 190 MW, bringing the company's total renewables capacity to 1,900 MW. JERA will also consider jointly developing solar and onshore wind projects with GEC. JERA has already participated in renewable energy projects across Asia, including India and Thailand. It has operated a gas-fired power plant in Vietnam since 2005. … [Read more...] about Japanese firm buys 35.1% stake at Vietnam’s power company

TOKYO -- Japan's biggest power generator JERA said on Tuesday it will spend about 15 billion yen ($112 million) to buy a 35.1% stake in Vietnamese renewable energy company Gia Lai Electricity JSC (GEC) to expand its overseas business. The acquisition of an affiliate of Vietnamese conglomerate TTC Corp comes as the Japanese utility steps up its decarbonisation efforts to help tackle global climate change. The deal is aimed at contributing to both economic growth and decarbonisation in Vietnam, JERA said in a statement. Under the deal to be completed by October or November, JERA will buy about 14% stake in GEC from International Finance Corp and about 21% from Armstrong Asset Management Pte, JERA said. GEC, which holds about 600 megawatts (MW) of wind, solar and hydroelectric power assets, including projects under construction, aims to expand its power generation assets to 1.7 gigawatts (GW) by 2025, mainly solar and wind power, according to JERA. After the acquisition, JERA's … [Read more...] about Japan’s JERA to buy 35% stake in Vietnam’s renewable energy firm for 15 billion yen

LDG Group is a developer with many unfinished projects that cannot be deployed in Ho Chi Minh City because of legal issues and cash flow. To solve the situation, chairman Nguyen Khanh Hung in June said he wants to mobilise capital from outside, and a merger and acquisition (M&A) is one potential method. Vietnam boasting buoyant real estate M&A activities “We are looking to finish legal documentation for two projects of the High Intela and the West Intela with a total of around 800 units which can be taken into M&A for other potential partners. This would be a good solution for LDG because these projects are small in scale, and LDG should leave them to drive focus towards improving its governance and construction capacity,” Hung said. According to Do Duy Thanh, manager of Savills Hanoi Investment Advisory Department, M&As are considered a safe and beneficial solution for both parties because the domestic enterprise can solve the capital shortage, while … [Read more...] about M&A route lends appeal for delay-ridden ventures

The race for mergers and acquisitions (M&As) in the real estate industry has continuously increased, with foreign investors sealing many deals in recent months. Vietnam boasting buoyant real estate M&A activities CapitaLand Development revealed on July 14 that it was acquiring a prime mixed-use site in Thu Duc district of Ho Chi Minh City, with an estimated gross development value of $720 million. This 8-hectare project will provide 1,100 apartments and will go into operation in 2027. A couple of weeks previously, Thai retail giant Central Retail also announced that it would invest an additional $869 million in the Vietnamese market, including developing complex projects and commercial centres over the next five years. The group also said that in the coming time, it will maintain the M&A target to accelerate its expansion in the retail real estate sector. Olivier Langlet, general director of Central Retail Vietnam, said, “We see Vietnam as one of the key … [Read more...] about Vietnam boasting buoyant real estate M&A activities

The challenge received a total of 101 incredible applications through the UpLink platform. 48 shortlisted candidates were carefully assessed by academic researchers, corporate sustainability practitioners, innovators, and climate & circular economy specialists. The selected innovators will receive partnership building opportunities, mentorship, increased visibility, access to networks, and grants to scale their solutions. “Working in partnership with the Global Plastic Action Partnership and the Alliance to End Plastic Waste, The Incubation Network is committed to support solutions that will enhance waste management ecosystems and accelerate the move towards a circular future for plastics,” said Simon Baldwin, Global Head of Circularity, SecondMuse. “We are very excited. The selected innovators have demonstrated a compelling opportunity for growth and economic & environmental impact!” Urgent sustainable solutions are needed to combat the ever-growing global plastic … [Read more...] about Vietnam startup among top five innovators

Kent Yang, founding managing partner of SLP Early this year, GLP announced the establishment of GLP Vietnam Development Partners I (GLP VDP I) with a total investment value of $1.1 billion. How will SLP activities be deployed in the Vietnamese market SLP is an industrial and logistic facility development and operation platform backed by GLP – one of the leading logistics infrastructure providers and operators – and three founding partners. Even though SLP is in a joint venture format, since its inception, it has been an extension of GLP in Southeast Asia and Vietnam. We closed the GLP VDP I fund earlier this year – in less than a year. For funds of this size, it's considered very fast. The ability to close this fund in such a short period is due to the fact that Vietnam is an extremely favourable market and our institutional investors trust GLP as a partner. With a size of $1.1 billion, we have raised one of the largest logistics development funds in Vietnam. Since the … [Read more...] about SLP aims to dominate Vietnam’s markets