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Vietnamese Ambassador Le Linh Lan in Switzerland speaks at the launching event. — VNA/VNS Photo The Vietnamese Embassy in Switzerland recently held a ceremony to launch the non-profit Switzerland-Vietnam business group (SVBG), which aims to promote exchanges and investment and trade co-operation between enterprises of the two nations. Based in Lausanne, the SVBG, the first of its kind founded by Vietnamese expatriates in Switzerland, will focus on offering trade information via workshops, forums, and internal bulletins; providing legal consultations and guidance; developing links for technological transfers and improvement; and introducing quality human resources. It will also make recommendations for a more favourable business climate to agencies of both nations while organising socio-cultural activities serving its goals. Speaking at the debut ceremony, Vietnamese Ambassador Le Linh Lan said the group came into being at a special time as Viet Nam has placed the COVID-19 pandemic under control and prepared the best conditions possible to welcome Swiss investors. Lan said the would embassy support the operation of the SVBG. According to the diplomat, Switzerland is the sixth-largest European investor in Viet Nam, with its investment totalling US$2 billion, mostly in manufacturing – processing and electricity. Currently, close to 100 Swiss firms are operating in Viet Nam. Meanwhile, Viet Nam is the fourth-biggest trade partner of Switzerland in ASEAN, with bilateral trade exceeding $3.6 billion in 2019. Since 2012, Viet Nam and the European Free Trade Association (EFTA) – the intergovernmental organisation of Iceland, Liechtenstein, Norway and Switzerland – began negotiations for a trade deal which is expected to be signed this year. — VNS …

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The index started off strong with a gain of nearly 10 points in the morning to hit the 1,990 range and stayed in the green mostly before plunging in the afternoon and closing with a 0.44-point increase, its fourth gaining session in a row. Trading volume on the Ho Chi Minh City Stock Exchange (HoSE), on which the index is based, fell 4.7 percent to VND15.22 trillion ($659.5 million). The bourse saw 227 stocks gain and 190 lose. The VN30 basket, comprising the 30 largest capped stocks on the HoSE, saw 12 tickers gain, led by TPB of private TPBank, up 6.3 percent to a new all-time high of VND29,750. The ticker has surged 8.8 percent in the last three sessions. HDB of HDBank followed with a 3.5 percent gain. But unlike other private banking blue chips, the ticker has not been able to climb back to this year’s peak that it reached on January 15. It is still 4.5 percent away. VRE of retail real estate arm Vincom Retail gained 1.3 percent, and HPG of steelmaker Hoa Phat Group rose 1.1 percent to another new peak of VND46,700. VJC of budget airline Vietjet rounded off the top five with a 1.1 percent gain to its highest price since January last year, showing that it is now approaching pre-pandemic figures after going through major slumps in March and July last year. On the losing side, GAS of the state-owned PetroVietnam Gas Jsc had a 1 percent fall, followed by MBB of Military Bank, down 0.9 percent and POW of electricity distributor PetroVietnam Power Corporation, down 0.8 percent. Foreign investors were net sellers for the eighth session in a row to the tune of VND731 billion, highest in the last 11 sessions. Selling pressures were strongest on VNM of dairy giant Vinamilk, HPG and MSN of conglomerate Masan Group. The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 1.76 percent, while the UPCoM-Index for stocks on the Unlisted Public Companies Market gained 0.4 percent. …

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Pham Hong Quat, director general, NATEC and Leon Cai, regional director (Ho Chi Minh City), Enterprise Singapore The Vietnamese agency (NATEC) and Enterprise Singapore (ESG) have renewed their cooperation for another two years. What will be the focuses in the next stage? How will it benefit the innovation landscape for Singapore and Vietnam? Pham Hong Quat: Singapore is considered to be the hub of innovation as well as a “paradise” for startups, with startup-friendly policies including subsidies and a range of incubation schemes. With its advanced IT infrastructure, strong government support, intellectual property laws, and deep tech talent pools, Singapore has become a world-leading technology innovation centre. Thus, the cooperation between NATEC and ESG will provide an open space for best practices and know-how sharing, particularly on the crafting and execution of startup and innovation supporting policies, as well as building and operating startup hubs. Through market access programmes and joint events, Vietnamese startups will have a chance to experience and benefit from peer-to-peer learning with their counterparts. Operating in the world’s leading and most vibrant ecosystem, Singaporean startup founders and teams have admirable skills and qualities, for example, creative thinking; entrepreneurship and management skills; fundraising and management; as well as research and development (R&D). Moreover, there will be a high chance that our startups can find great partners or clients in a new market. One of the biggest concerns for Vietnamese startups might be how to get funding from venture capital funds or angel investors and how to manage them wisely, especially during the crisis. Thus, what they need to focus on is acquiring valuable know-how and skills from their counterparts and taking any opportunity to interact and learn from experienced investors and mentors. Leon Cai: The renewed MoU will build on existing partnerships between …

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