Hong kong economic and trade office

The Chinese finance hub is pivoting to embrace crypto despite high-profile failures in recent months, including the meltdown of trading platform FTX, which wiped out more than $1.5 trillion in the market. Hong Kong launches retail-friendly rules for crypto exchanges/ illustration photo/ Source: freepik.com China has had a strict crypto ban since 2021, but in Hong Kong -- which operates on a separate legal framework -- trading has been allowed though unregulated, meaning individual investors use unlicensed platforms. The regulatory regime launched Thursday means that after a one-year transition period, all crypto exchanges in Hong Kong must be licensed, and will be able to take on retail clients. "(The sector) fundamentally is going to stay despite all the risks... These activities have to be allowed in a regulated way," the city's financial services and treasury chief Christopher Hui told AFP. The new rules have an emphasis on investor protection measures, like … [Read more...] about Hong Kong launches retail-friendly rules for crypto exchanges

Raffles Family Office, an award-winning multifamily office with a full suite of wealth management services for ultra-high-net-worth individuals headquartered in Hong Kong and Singapore, is intensifying its commitment to private equity (PE) transactions within Southeast Asia, leveraging this approach as a means of bolstering its portfolio diversification. This strategic move is partly driven by ongoing geopolitical tensions and regulatory risks emanating from China, further compounded by concerns surrounding rising interest rates, inflation, and the spectre of recession. According to Dealstreetasia , Raffles Family Office has allocated between 10-15 per cent of its considerable assets under management specifically for investments in the PE realm, as revealed by Jo Huang, the firm's head of Private Equity. Huang emphasised the value of geographical and sectoral flexibility as a risk mitigation measure for the company's investment undertakings, expressing a desire to expand its … [Read more...] about Raffles Family Office bolsters private equity focus in Southeast Asia

Annually, many international business delegations visit and have working sessions with Haiphong management authorities. In March and April alone, dozens of business delegations from China, Taiwan, South Korea, and several other countries visited Haiphong for a market survey to learn about the local investment environment, and explore partnership prospects. This has ushered in multiple opportunities for collaboration in promising domains such as logistics, renewable energy, technology transfer, green growth, among others. “The city's investment promotions with international businesses create tremendous opportunities for both parties. For Nam Dinh Vu Industrial Park (IP), we have the chance to increase exposure about the image and benefits of the IP, as well as its infrastructure and amenities to investors,” said Nguyen Thanh Phuong, general director of Sao Do Group , the developer of Nam Dinh Vu IP. “Earlier, we reached the investors through invites or using VR software, which … [Read more...] about Sao Do Group intensifies on-spot investment promotion

Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. - Prime Minister Pham Minh Chinh on May 30 visited educational institutions for disadvantaged children in Hanoi on the occasion of International Children’s Day (June 1) and Action Month for Children. At the SOS Hermann Gmeiner School, established in 1994 with its construction funded by the SOS Children’s Village, Chinh presented gifts to the school and its outstanding students. Read full story - A Child Rights and Business Forum was organised in Hanoi on May 30 by UNICEF Vietnam and the Vietnam Chamber of Commerce and Industry (VCCI), emphasising the need for responsible business practices that respect child rights and prevent adverse human rights impacts. Read full story - The national steering committee for green growth should work out specific solutions to realise green growth targets based on the country’s socio-economic conditions, Deputy Prime Minister and head of … [Read more...] about ☀️ Morning digest May 31

After weeks of brinkmanship, Democrats and Republicans came together to push through an agreement to lift the debt ceiling in rare bipartisan cooperation. Passage of US debt bill boosts equity markets, Fed now in view, illustration photo/ Source: freepik.com Hardline Republicans had warned they would shoot the deal down, saying it did not have enough spending cuts, and some Democrats were also angry at the reductions made. The bill now goes to the Senate before President Joe Biden can sign it off, allowing the government to borrow more cash to service its mammoth debts. Failure to do so before the cash run out -- said to be June 5 -- would have resulted in a default that many warned would hammer the global economy and markets. After the vote, Biden said in a statement: "Tonight, the House took a critical step forward to prevent a first-ever default and protect our country's hard-earned and historic economic recovery. "The only path forward is a bipartisan … [Read more...] about Passage of US debt bill boosts equity markets, Fed now in view

Hanoi (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. - The 15th National Assembly's fifth session continued its ninth working day in Hanoi on May 31, under the chair of NA Chairman Vuong Dinh Hue. Moderated by NA Vice Chairman Nguyen Duc Hai, the NA convened a plenary session to discuss the supplementary assessment of the implementation of the socio-economic development plan and State budget for 2022, as well as the performance in the early months of 2023. Read full story - Deputy Prime Minister Tran Hong Ha welcomed Dutch firms and partners to join in the pilot scheme for rooftop solar installation in Vietnam during a reception in Hanoi on May 31 for Dutch Ambassador to Vietnam Kees van Baar. Deputy PM Ha said Vietnam and the Netherlands are strategic partners in climate change adaptation, water management, sustainable agriculture and food security. Read full story VUFO President Ambassador Nguyen Phuong Nga receives … [Read more...] about ☀️ Morning digest June 1

The clearance of 200-300 coal wagons per day via the La Lay border gate in the central province of Quang Tri is being deemed impractical, affecting Logistics PTS Vietnam’s future aim of importing five million metric tonnes of coal annually. “Transportation and warehouse infrastructure is scarce, and so we can only remove about 100 vehicles per day,” said PTS general director Nguyen Quang Huy. According to him, if Vietnam fails to strengthen infrastructure, improve National Highway 15D, and invest in warehouses, it will miss the chance to compete with Thailand in purchasing coal from Laos. In February, Laos’ energy ministry announced findings of coal field surveys in the provinces of Sekong and Saravane, indicating that reserves may be as high as 500 million MT. Coal still with part to play in energy mix, Source: evn.com.vn Vietnam may experience a power scarcity if the availability of coal becomes constrained. According to Electricity of Vietnam (EVN), the total … [Read more...] about Coal still with part to play in energy mix

Deputy Governor of the State Bank of Vietnam Pham Thanh Ha In the remaining months of 2023, monetary policy management is forecast to continue facing many challenges, as both the world and domestic economies are still experiencing complicated developments. The State Bank of Vietnam (SBV) continues to closely monitor economic and monetary developments at home and abroad in order to proactively and flexibly use monetary policy tools to control inflation and support economic growth. Deputy Governor of the State Bank of Vietnam, Pham Thanh Ha, spoke with the media about the management of monetary policy. How have external difficulties and challenges, as well as within the country, affected monetary policy management in the first five months of the year? What solutions has the central bank implemented to ease the pressure? In the first months of 2023, many countries continued to face the risk of economic recession and high inflation. The trend of monetary tightening is … [Read more...] about SBV encouragse banks to reduce lending interest rates

Vietnam's Direct Investment Abroad & in Myanmar debuts for first time On May 31, International Investment Study Institute Co., Ltd. (ISC) launched the new book, which is a remaking of the first book providing an overview of outward foreign direct investment by Vietnamese businesses. The book focuses on analysing Vietnam's current direct investment situation, both in overview form and focusing on particular countries and territories. It is based on an in-depth analysis of the production and business results of many selected enterprises, representing each specific industrial sector, as well as each region. The book also analyses the legal and policy systems of the host countries, as well as those in Vietnam that target outbound investment and international investment practices, to highlight the opportunities and the difficulties for Vietnamese enterprises when investing abroad. The book offers recommendations on improving the current laws and policies on Vietnam's outbound … [Read more...] about Vietnam’s Direct Investment Abroad & in Myanmar debuts for first time

Australian Prime Minister Anthony Albanese will pay an official visit to Vietnam on Saturday at the invitation of Vietnamese Prime Minister Pham Minh Chinh, according to the Ministry of Foreign Affairs. This will be his first visit to Vietnam since he took office in 2022. The Australian prime minister’s visit will be made two months after Australian Governor-General David Hurley’s state visit to Vietnam. His two-day visit is aimed at marking the 50th anniversary of diplomatic ties between Vietnam and Australia. Australian Prime Minister Albanese will meet several top Vietnamese officials during his trip, said the Australian Embassy in Vietnam. “The leaders will come to the table about measures to deepen the partnership in trade, investment, education, energy, and environmental protection," the embassy said. “Vietnam is one of Australia’s key strategic economic partners in Southeast Asia, which is a focus of Australian Prime Minister Albanese." “My first official visit to … [Read more...] about Australian prime minister to visit Vietnam this weekend