Attracting venture capital investment

Employees work at Samsung Electronics Vietnam Co. Ltd. in Yen Phong Industrial Park in Bac Ninh Province (Photo: VNA) Hanoi (VNA) – Vietnam has become one of the leading countries in Southeast Asia in attracting foreign direct investment ( FDI ), according to an article published on September 21 on the website gfmag.com of Global Finance Magazine. The writing attributes it to a range of advantages of the country, including its favourable demographics as 40% of Vietnam’s population of 100 million are under 25. In addition, it has tariff-free access to the Southeast Asia region with 800 million people thanks to being a member of the Association of Southeast Asian Nations (ASEAN). According to Thierry Mermet, CEO of Source Of Asia (SOA), a consultant to companies looking for business opportunities in Vietnam and ASEAN, the 2023 outlook for the business environment in Vietnam shows promising signs of improvement. He cited foreign direct investment capital reaching about 10 … [Read more...] about Vietnam – poweful magnet for foreign direct investment

Amid the current financial landscape, how do you see the investment appetites of global investors evolving? From the escalating interest rates that echo the world’s financial concerns to brewing geopolitical tensions, uncertainty seems to be the new norm. Louis Nguyen, chairman and CEO of Saigon Asset Management This environment has led many investors to tread with caution. A conservative streak is becoming more apparent, with a pronounced shift towards liquidity. Increasingly, investors, whether individual or institutional, are preferring the relative safety of cash holdings over more volatile investments. Vietnam, too, reflects this broader sentiment of caution. But for this Southeast Asian nation, the complexities run deeper. Beyond the external geopolitical and economic factors that influence global investment behaviours, Vietnam grapples with its own unique set of challenges. Recent internal events and policy indecisions have contributed to an atmosphere … [Read more...] about Compelling business model essential for success

People at the " International TECHFEST in Australia " held in Melbourne. (Photo: vneconomy.vn) Sydney (VNA) – The Ministry of Science and Technology (MoST) and Australia’s Monash University on September 20 organised the first “International TECHFEST in Australia”, aiming to attract international resources to develop Vietnam’s innovative startup ecosystem. The event saw the participation of Vietnamese and Australian officials and over 100 experts, investors, and investment funds from the two countries. Minister of Science and Technology Huynh Thanh Dat said that the event is an opportunity to promote the image of Vietnam's open and dynamic creative startup ecosystem. It’s also a bridge connecting businesses and organisations with international resources around the world. Vietnam calls on overseas Vietnamese, intellectuals, entrepreneurs, technology experts, and foreign startups to come to Vietnam and work with Vietnamese partners to solve local and global challenges, he … [Read more...] about Vietnam joins first “International TECHFEST in Australia”

Held on the 50 th anniversary of diplomatic relations between Vietnam and Australia, the international TECHFEST in Melbourne marks a new step forward for Vietnam's innovative startup ecosystem in the global playground. The event was attended by Vietnamese Minister of Science and Technology Huynh Thanh Dat and Australia's Treasurer and Minister for Trade and Investment Tim Pallas, as well as over 100 experts and investment funds from the two countries. Vietnamese Minister of Science and Technology Huynh Thanh Dat giving his speech at TECHFEST in Australia The Vietnamese minister said the MoST organised the international TECHFEST in Australia – a country with an advanced and dynamic startup ecosystem – to celebrate 50 years of diplomatic relations between the two countries, and to promote deeper cooperation by connecting the nations' businesses. “We are determined to build an open ecosystem, encouraging foreign incubators and startups to come to test new … [Read more...] about Vietnam hosts TECHFEST in Australia for first time

People at the "International TECHFEST in Australia" held in Melbourne. — Photo vneconomy.vn The Ministry of Science and Technology (MoST) and Australia’s Monash University on Wednesday organised the first “International TECHFEST in Australia”, aiming to attract international resources to develop Việt Nam’s innovative start-up ecosystem. The event saw the participation of Vietnamese and Australian officials and over 100 experts, investors, and investment funds from the two countries. Minister of Science and Technology Huỳnh Thành Đạt said that the event is an opportunity to promote the image of Việt Nam's open and dynamic creative start-up ecosystem. It’s also a bridge connecting businesses and organisations with international resources around the world. Việt Nam calls on overseas Vietnamese, intellectuals, entrepreneurs, technology experts, and foreign start-ups to come to Việt Nam and work with Vietnamese partners to solve local and global challenges, he said, adding … [Read more...] about Việt Nam joins first “International TECHFEST in Australia”

Vietnam is always ready to participate responsibly in bringing innovative solutions to worldwide economic, social, and sustainable development issues. Vietnam's innovation startup ecosystem is dynamic, highly open, and ready to integrate with international standards, according to Tim Pallas, Australia's Treasurer and Minister for Trade and Investment. Tim Pallas made the remarks at the 2023 International Techfest, co-hosted by Monash University, the Vietnamese Ministry of Science and Technology (MoST), and the National Agency for Technology, Entrepreneurship and Commercialization Development. The event was part of a working visit to Australia by a Vietnamese delegation led by Minister of Science and Technology Huynh Thanh Dat to attend the Global Entrepreneurship Congress 2023 in Victoria this week. Techfest, Vietnam’s largest annual event for innovative start-ups , was held for the first time in Melbourne, Australia, on September 20 to mark the 50th anniversary of … [Read more...] about Vietnamese innovation startup ecosystem is dynamic and open

Giants lead green packaging future, illustration photo/ Source: freepik.com About 450 businesses from more than 30 countries and territories will gather for the 16th edition of ProPak in Ho Chi Minh City in November to establish a panorama of equipment and new technology in future food processing and packaging. The exhibition will offer a dynamic business platform that is shaping the future of the processing and packaging industries, particularly in an industry closely impacting the environment like packaging. Food packaging currently accounts for 30-50 per cent of the total packaging industry space, according to statistics from the Ministry of Industry and Trade, leading to a strong symbiotic relationship between the two fields of food and packaging. According to German data provider Statista, the packaging sector has been growing on-year with an average rate of 15-20 per cent, in parallel with the average increase of about 10 per cent of the food and beverages market over … [Read more...] about Giants lead green packaging future

Covering an area of 20,000 hectares, the South Haiphong Coastal EZ will span the districts of Do Son, Kien Thuy, An Lao, Tien Lang, and Vinh Bao. It will be the second coastal EZ in the city, following Dinh Vu-Cat Hai EZ, which was founded in 2008. Haiphong People’s Committee has assigned tasks to relevant units and expects to receive government approval for the project by 2025. Haiphong anticipates leveraging existing assets and infrastructure, connecting with neighbouring economic zones like Thai Binh, Quang Yen, and Van Don to create a cohesive network of coastal economic zones that will drive the socioeconomic development of the entire region. Nguyen Dinh Cung, former director of the Central Institute for Economic Management also asserted, “Developing EZs will create growth and attract new-generation investors.” In mid-September, the city celebrated 30 years of the development of its industrial parks and economic zones. Haiphong currently has 14 EZs on a total area of … [Read more...] about Haiphong to develop 20,000-hectare economic zone