Billion dollar investments

A number of supportive policies over the past years have enabled Vietnam to create room for domestic startups to grow, especially in areas where Vietnam is on par with other countries. Vietnam has the potential to become a hub in Southeast Asia for startups thanks to its policies and the quality of its human resources, according to HSBC. The country's rapid progress in new fields, such as Metaverse and Blockchain, has helped Vietnamese startups attract investors, it said. Potential fields Airlios launches its product at the Vietnam Motor Show 2022. Photo: Airlios HSBC said Vietnam is emerging as a Southeast Asian hub for startups, behind Indonesia and Singapore. Meanwhile, ADB believed that the next unicorn in the Asia Pacific could be Vietnam. Capital invested in Vietnamese tech startups has increased in the past three years. In 2022, a record US$2 billion is estimated to be poured into Vietnamese startups, with completed deals, such as Sky Mavis with … [Read more...] about Efforts to attract investment capital into Vietnamese startups

Recent lending restrictions, investor outflow from corporate bonds, and increasing interest rates have made the residential real estate market less liquid. However, the commercial real estate market is still seen as having substantial growth potential. Vietnam's commercial property sector offers a great deal of promise since supply is restricted and demand is rising rapidly. Photo: L.T According to a recent analysis by Cushman & Wakefield Vietnam, Vietnam's commercial real estate sector is still fairly young and mostly centred on Ho Chi Minh City and Hanoi. Vietnam ranks 15 th in the world in terms of population (with almost 100 million people), and its urbanisation rate exceeds 40 per cent. Along with this, every year, a large number of migrants – particularly young people – arrive in major cities. Meanwhile, only roughly 820,000 square metres of Class A office space is available in Ho Chi Minh City and Hanoi combined. This is much less than regional office … [Read more...] about A great chance to invest in commercial property

The company currently enjoys an export turnover of $4 million per year. On the days leading up to the Lunar New Year, Lap Phuc Co.'s factory of more than 10,000 square meters in Ho Chi Minh City was still busy with the final stages of an automobile mold order for export to the United States. Factory worker Vo Nhut Han stared intently at the control panel, a satisfied look on his face as the machine operated smoothly. Operating the machine together with Han was Nguyen Van Tri, the factory's general director. "Each working day, I only spend an hour on management work, and the rest of the day is spent down on the factory floor working alongside my fellow workers," said Tri, who is now in his 60s. For him, it's as if being a worker runs in his blood. Factory worker Vo Nhut Han (L) works on a machine at Lap Phuc Company in HCMC as its general director Nguyen Van Tri observes, January 2023. Photo by VnExpress/Le Tuyet Tri is the eldest son in a family of 10 children. … [Read more...] about From zero to hero: A downsized worker who owns a million-dollar factory

A garment factory in Vietnam (Illustrative photo: VietnamPlus) Hanoi (VNA) – In its Vietnam Marco Monitoring report released in November, the World Bank (WB) noted several positive economic signs recently, including the strong rebound of FDI commitment, thanks to a jump in greenfield investment. Industrial production moderates, FDI bounces back The WB said FDI commitment bounced back strongly thanks to a jump in greenfield investment in electricity, gas, and water supply, while FDI disbursement maintained robust growth. Total investment commitment jumped to 3.7 billion USD in October, up 133% year on year and the second highest level in 2022. This improvement was driven by a lump sum greenfield investment of 2 billion USD in electricity, gas, and water supply. FDI disbursement remained strong, growing by 8.1% (y/y) in October and 15.2% (y/y) over the first 10 months. The industrial production index increased by 6.3% from a year earlier in October, … [Read more...] about FDI commitment rebound driven by greenfield investment surge

Climate change is increasing malaria infections, the executive director of the world's biggest health fund said in Davos on Monday. Huge surges in malaria infections followed recent floods in Pakistan and cyclones in Mozambique in 2021, said Peter Sands, the executive director of the Global Fund to fight AIDS, Tuberculosis and Malaria. "Whenever you have an extreme weather event it's fairly common to have a surge of malaria," he said at the World Economic Forum (WEF) annual meeting in Davos. The increase in extreme weather events, and the resulting large pools of standing water that attract mosquitoes, are leaving poorer populations vulnerable. He said climate change was also changing the geography of mosquitoes. The highlands of Africa, in Kenya and Ethiopia, are now succumbing to malaria because of a shift in the low temperatures that once made the area unsustainable for mosquitoes. Sands runs the world's largest global fund, which invests in fighting tuberculosis, malaria … [Read more...] about Davos 2023: Climate change leads to more malaria, tuberculosis up in a recession

Have you been back to enjoy Lunar New Year in Vietnam since the pandemic broke out? David Duong, CEO of California Waste Solutions and Vietnam Waste Solutions Vietnam is always in my heart and I am a nostalgic person, therefore springtime and Lunar New Year always bring out special emotions in me. Memories of Lunar New Year in the motherland flood my mind. They could be the striking yellow apricot blossoms, and delicacies, especially the sacred time of Lunar New Year’s Eve and family talks, or meeting friends and acquaintances for drinks. For the last two years I could not make it back and I miss it so much. I also miss my colleagues and employees. This year I will definitely return for Lunar New Year to fully emerge in this special atmosphere. This is an occasion for remembering the old and acknowledging the new. What did you enjoy the most in the journey of building businesses overseas over the decades? In 1980, I followed my family to the United States. One … [Read more...] about David Duong, CEO of CWS and VWS: Giving back to the motherland

Fumes rising from a factory in Saint-Avold, France. AFP/VNA Photo Hanoi - Climate change is one of the world’s biggest threats, and reducing emissions is the priority for all countries in the world and the lodestar for investment trends. Warmer temperatures are altering weather phenomena and disrupting the balance of nature, directly affecting human activities. The devastation caused by extreme weather disasters like typhoons, floods, and heat waves is worsening in many nations. And the economic damage caused by climate change is also increasing in line with global temperatures. Major storms destroy crops, costing billions of dollars, while rebuilding after each storm and flood requires a huge amount of money. The more extreme the climate, the more it damages economies. It is a positive sign that many countries have joined the fight for net zero emissions by 2050. Many people worry that it is unrealistic given the standard pace we have already set. However, an expert … [Read more...] about Financing’s role in reaching net-zero emission

Containers at Sai Gon New Port, a major port of Viet Nam. — VNA/VNS Photo Hong Dat New-generation free trade agreements (FTAs) continue to be a silver lining in Viet Nam's trade growth targeting US$1 trillion in import-export revenue by 2025. The country's trade surpassed the milestone of $700 billion in value to hit $73.5 billion in 2022, a rise of 9.5 per cent against the same period of the previous year, according to the updates of the General Statistics Office. Of the figure, exports rose by 10.6 per cent, while imports by 8.4 per cent. With a trade surplus of nearly $11 billion this year, Viet Nam registered a trade surplus for seven years in a row which contributed significantly to the balance of payments, improving foreign exchange reserves, stabilising exchange rates and other macroeconomic indicators, Deputy Minister of Industry and Trade Tran Quoc Khanh said. Thirty-nine products joined the club of over a billion US dollars in export revenue, nine of which had … [Read more...] about FTAs a silver lining for economic growth

China’s COVID-19 policy had become untenable: the virus had spread to 170 cities, and new mandatory quarantines triggered protests from exasperated citizens. On December 26, China’s National Health Commission announced it would downgrade the response level. Border crossings to enter China without mandatory isolation are now once again permitted. Patrick Lenain, senior associate of the Council on Economic Policies This is good news for Vietnam, mostly. Chinese tourists will return, though not immediately. Trade flows across the border will operate more smoothly. But Vietnam will, once again, have to compete with Chinese provinces to attract foreign invested investment. The reopening of China differs from the reopening elsewhere. In other countries, including Vietnam, the population was vaccinated and immunised, so reopening meant it was safe to interact, socialise, and travel. People regained confidence, and economic activity jumped forward, especially in sectors that … [Read more...] about The return of China: mostly positive news for Vietnam

Super-rich grab half of all new wealth in past decade: Oxfam The richest 1 per cent grabbed nearly two-thirds of all new wealth, worth $42 trillion, created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today. During the past decade, the richest 1 per cent had captured around half of all new wealth. “ Survival of the Richest ” is published on the opening day of the World Economic Forum in Davos, Switzerland. Elites are gathering in the Swiss ski resort as extreme wealth and extreme poverty has increased simultaneously for the first time in 25 years. “While ordinary people are making daily sacrifices on essentials like food, the super-rich have outdone even their wildest dreams. Just two years in, this decade is shaping up to be the best yet for billionaires —a roaring ‘20s boom for the world’s richest,” said Gabriela Bucher, executive director of Oxfam International. “Taxing the super-rich and big … [Read more...] about Super-rich grab half of all new wealth in past decade: Oxfam