The Hanoitimes - The years of 2018 and 2019 have seen a new wave of Vietnam’s startups that raised US$50 million to $US100 million rounds for the first time. If this trend progresses, it is expected more Vietnamese companies would approach the US$0.5 billion and eventually US$1 billion valuation mark in the years to come. Hanoi to create breakthroughs in supporting creative startups Grab eyes Vietnam’s startups investments Investment funds commit over US$400 million to Vietnam’s startups Google supports Vietnam startups to access global markets Vietnam Silicon Valley provides US$20,000 seeding fund for early stage startups Vietnam’s Techfest 2018 expected to draw more investment in startups In only two years, Vietnam jumped from the second least active startup ecosystem among the six largest ASEAN countries (Indonesia, Vietnam, Thailand, Malaysia, Singapore, the Philippines) into the third rank, trailing behind only Indonesia and Singapore, … [Read more...] about Vietnam named third most active startup ecosystem among ASEAN-6
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BUSINESS NEWS IN BRIEF 17/11
Congress talks transforming finance in digital age The 48th World Chief Financial Officers (CFO) Congress opened in Ho Chi Minh City on November 15, focusing discussion on transforming finance in the digital age. In his opening speech, Nguyen Ngoc Bach, Chairman of the Vietnam CFO Association and head of the organising board, said the event, held for the first time in Vietnam, is a great opportunity for business leaders to gather, exchange and directly share their knowledge and practices, their intensive financial management skills with experienced finance leaders from other continents. “International financial experts will talk new trends and provide insights into the future of the financial sector and the challenges that business leaders and financial professionals are facing in this technological era,” he said. Nguyen Thien Nhan, member of the Politburo and Secretary of the HCM City Party Committee, said Vietnam and HCM City in particular are focusing on implementing … [Read more...] about BUSINESS NEWS IN BRIEF 17/11
BUSINESS NEWS IN BRIEF 9/11
HCM City works to solve difficulties facing property enterprisesThe People’s Committee of Ho Chi Minh City held a conference on November 7 to help local real estate enterprises solve difficulties.Le Hoang Chau, President of the Ho Chi Minh City Real Estate Association, said the local property market faces several bottlenecks affecting enterprises’ business and investment activities, including approval of investment intentions, ground clearance, land use feess, project acquisition, using land funds to pay for Build-Transfer (BT) contracts, and credit and financial procedure issues.The slow settlement of these bottlenecks is one reason for the significant decrease in the supply of real estate products in 2018, which is forecast to continue reducing in 2019, Chau affirmed.At the event, local enterprises shared difficulties facing them during project implementation.Chairman of the municipal People’s Committee Nguyen Thanh Phong admitted that there remain several … [Read more...] about BUSINESS NEWS IN BRIEF 9/11
BUSINESS NEWS IN BRIEF 26/10
Vietnam, Japan look to foster trade cooperation A workshop was held in Tokyo on October 22 to discuss measures to promote economic and trade cooperation between Vietnam and Japan. Held by the Department of Trade Promotion (DTP) under the Ministry of Industry and Trade and the Japan-ASEAN centre, the event attracted representatives from more than 100 Japanese and 25 Vietnamese enterprises operating in handicrafts, mechanics, plastic, home furniture and gifts. Speaking at the workshop, Doan Thi Thu Thuy, Deputy General Director of the DTP said Vietnamese goods are present in most markets around the world, and exports are shifting from raw materials to products with higher value such as electronics and smart phones. Notably, Vietnam's agriculture has witnessed a long period of stable growth with an average expansion of 4.4 percent in the last decade, with the export value of Vietnamese fruits surpassing those of rice and crude oil. Assessing Vietnam’s advantages, … [Read more...] about BUSINESS NEWS IN BRIEF 26/10