The upcoming Vietnam Digital Economy Forum (VDEF) 2018 will include special sessions which focus on Vietnam’s digital economic perspectives, featuring local and international keynote speakers. The VDEF 2018, whose theme is “Challenges and strategic solutions for small- and medium-sized enterprises (SMEs) in the Fourth Industrial Revolution,” will take place on Thursday, November 1, at the Rex Hotel in District 1, HCMC. The forum is co-sponsored by the Association of Vietnam Scientists and Experts, and Quang Trung Software City, as well as by the HCMC People’s Committee. Some 20 policy makers and leading experts at home and abroad from the digital economy industry, together with 500 guests from ministries, organizations and enterprises, are expected to join this event. The Fourth Industrial Revolution has been impacting the structures that make up the foundations of the global economy and society. Every day, millions of people benefit from innovative products and … [Read more...] about BUSINESS NEWS IN BRIEF 1/11
Banks will be closed tomorrow
Encouragement from VIR’s partners
Encouragement from VIR’s partners Pereric Hogberg - Swedish Ambassador to Vietnam I met with so many impressive journalists in Vietnam. I think the best thing journalists can do is to try to listen to the real stories, to be open-minded and curious. It is about transparency, openness, curiosity, and being willing to write and discuss failures and challenges, because they are not the same as mistakes. My country, Sweden, has gone through so many failures, but we learned from them. I am most interested in real knowledge. Sometimes, I want to understand more about the fundamentals of the Vietnamese economy, what is really pushing and driving the value of the currency, inflation, and taxes. In Vietnam, it is a bit hard to know who is paying, who is paying what, and what the services are. Phyllis Tan - Senior manager, Investment List Sotheby’s Investment International Realty, Singapore As a foreign company looking to enter Vietnam, we are happy to have access to regular and … [Read more...] about Encouragement from VIR’s partners
Fintechs reshape the financial system
Fintechs reshape the financial system The rise of fintechs Tran Thanh Nam, CEO of mobile payment platform Moca, said he and his fintech startup had to make their way through hard times over the past five years in order to reach their current success. They were officially licensed by the central bank in 2016 and have just signed a co-operation agreement with their 11th banking partner for their mobile payment product. “Out of these banks, we have three state-owned ones, all of them among the four largest state-owned banks in Vietnam, joining us. These are some of the results that we’ve been longing for. For a fintech startup that is capable of surviving through the first two or three years of operation, it’s something to be proud of,” Nam said. “We started off some 10 years ago and, although the technologies and our knowledge at the time may not have been as advanced as they are now, we persevered in the face of those who doubted that we could achieve … [Read more...] about Fintechs reshape the financial system
Crossing the street alone
Viet Nam News “So your aunt and I will be gone for a few weeks. You’ll take care of the shop. In the evening Vân will be home and review the day’s trade. Don’t worry about business. You’re better off here anyway, because you don’t have anything else to do while waiting for a job offer other than wandering around inhaling traffic smoke or sitting at cafes ogling unemployed girls in short skirts and high heels. It wouldn’t be fun. You’d better look after the shop for us, or else we’ll have to close it and lose customers. Look, we can’t let customers walk away. Is there any house on the street in this whole city that isn’t used as a shop? We have to sell things. Everything. This big market which is our city is perhaps one of a kind in the world. In other cities people set aside a little land for gardens and lawns and green trees. They sell things in separate zones. But here we’re filled with shops. Which is very … [Read more...] about Crossing the street alone
Trump team demands China slash US trade surplus, cut tariffs
The Trump administration has drawn a hard line in trade talks with China, demanding a $200 billion cut in the Chinese trade surplus with the United States, sharply lower tariffs and advanced technology subsidies, people familiar with the talks said on Friday. The lengthy list of demands was presented to Beijing before the start of talks Thursday and Friday between top-level Trump administration officials and their Chinese counterparts to try to avert a damaging trade war between the world's two largest economies. A White House statement did not mention specific demands, but said the U.S. delegation "held frank discussions with Chinese officials on rebalancing the United States–China bilateral economic relationship, improving China’s protection of intellectual property, and identifying policies that unfairly enforce technology transfers." The statement gave no indication that U.S. President Donald Trump would back off on his threat to impose tariffs on up to $150 billion in … [Read more...] about Trump team demands China slash US trade surplus, cut tariffs