Ppf vietnam finance

As part of the agreement signed on March 20, IFC is providing a USD 40 million loan to SHB, which is the first step towards a total financing package of USD 120 million. This funding will help SHB support local businesses and enhance their participation in the global supply chain. The investment from IFC is expected to more than double the number of SME loans and outstanding loan volumes for women-owned businesses by 2025. Furthermore, more than one third of the funding will be solely targeted at omen-owned SMEs, with support from the Women Entrepreneurs Opportunity Facility (WEOF) and the Women Entrepreneurs Finance Initiative (We-Fi), through a performance-based incentive program which encourages financial institutions to provide financing to women-owned small businesses. This is particularly important, as SMEs generate 40% of Vietnam's gross domestic product (GDP) and 50% of jobs, yet 62% of total SME financing needs go unmet. An IFC study estimates that Vietnam’s financing gap … [Read more...] about IFC helps boost lending for Vietnam’s smaller businesses

A mission, including 52 businesses from the U.S., is scheduled to visit Vietnam this week to learn about the local market and seek business and investment opportunities. This is the largest-ever U.S. business mission to Vietnam. Ted Osius, president and CEO of the U.S.-ASEAN Business Council (USABC), told Tuoi Tre (Youth) newspaper on Monday that these U.S. firms will meet with the Vietnamese prime minister, National Assembly chairman, and ministers. Amazon is among the U.S. enterprises coming to Vietnam this week. Photo: Reuters Learning about Vietnam’s digital, green transformation potential According to Osius, USABC members stressed at a meeting with Vietnamese Prime Minister Pham Minh Chinh during his visit to the U.S. on the occasion of the ASEAN-U.S. Special Summit in May 2022 that they considered Vietnam a strategic market in the region and were committed to making investments in Vietnam and cooperating with Vietnamese partners for a long term. … [Read more...] about Biggest-ever US business delegation comes to Vietnam to seek investment opportunities

Vietnam's foreign partners, such as AmCham and EuroCham, expect to further penetrate the domestic clean energy industry. Vietnam’s renewable energy sector remains attractive to international businesses, officials said on March 19 as they urged the Government to finalize the regulatory system soon. A wind power farm in the southern central province of Binh Thuan. Photo: The Hanoi Times According to Gregory Testerman, Chairman of the Board of Governors of the American Chamber of Commerce in Vietnam, US companies are looking for solutions in renewable development, especially gas-fired power, and offshore wind projects. Gregory said that Vietnam needs to prioritize sustainable energy sources at reasonable prices, adding that the nation will need technical and financial assistance to transition energy. AmCham Vietnam hopes to reach an agreement with the Vietnamese Government on power trade to cut carbon emissions and bring the economy into a state of … [Read more...] about International partners keen on Vietnam’s renewable energy sector

Vietnam will amend regulations to simplify work permit applications for foreign workers so that work permits will be issued in the shortest possible time, said Minister of Labor, War Invalids, and Social Affairs Dao Ngoc Dung. At the 25th Vietnam Business Forum 2023 held in Hanoi on Sunday, Minister Dung said the national government had already assigned his ministry to amend and supplement Decree 152 on foreign workers in Vietnam in the third quarter of this year. Following the amendment and supplementation, work permit issuance regulations are expected to be loosened with the enhanced decentralization for agencies. However, foreign experts and managers will receive priority, the minister added. Prime Minister Pham Minh Chinh said his government will simplify visa regulations for foreigners. Regulations will be amended to support foreign laborers, the government chief said, adding that local regulations will not be strict due to several violators. Gabor Fluit, chairman of … [Read more...] about Vietnam to loosen work permit requirements for foreigners

Vietnamese property developer Novaland is continuing personnel changes as Dennis Ng Teck Yow has been named CEO of the firm from Friday to replace Nguyen Ngoc Huyen, who tendered his resignation in late 2022. Novaland, whose NVL shares are traded on the Ho Chi Minh Stock Exchange, announced on Friday morning that the firm’s board of directors decided to select Dennis Ng Teck Yow, a native of Malaysia, as the new chief executive officer. He holds a master’s in banking and finance from the University of Hull in the United Kingdom. Yow is a housing industry veteran, previously working as general director at Gamuda Land Vietnam. The Malaysian entrepreneur has nearly 30 years of experience in property and in top posts of business strategy development, project development, and financial planning and analysis at domestic and international enterprises, according to Novaland. Novaland says will complete key projects Novaland’s appointment was made while the firm is struggling with … [Read more...] about Vietnam’s Novaland appoints Malaysian as new CEO

The fact that the visit to Vietnam this time has the largest number of US companies ever indicates a shift in the investment wave to Vietnam and other ASEAN countries. A delegation of 52 US major corporations has come to Vietnam to seek investment opportunities and cooperation in high-potential fields such as innovation, the digital economy, and the space industry. Overview of the press briefing. Photo: HT The information was revealed at a press conference held by the US-ASEAN Business Council (USABC) on March 21, noting that the trip marks the 10th anniversary of the Vietnam-US Comprehensive Partnership. Senior executives from 52 U.S. companies, including Boeing, Lockheed Martin, SpaceX, Netflix, Apple, and Ford, will meet with Prime Minister Pham Minh Chinh, Chairman of the National Assembly Vuong Dinh Hue, and heads of various ministries to discuss policies related to sales, supplies, and investment opportunities. Ted Osius, President and CEO of the … [Read more...] about Largest-ever US business delegation seeks investment opportunities in Vietnam

USABC President and CEO Ted Osius (second from right) speaks at the meeting on March 21. (Photo: VNA) Hanoi (VNA) – Minister of Planning and Investment Nguyen Chi Dung has voiced his hope that US enterprises will become the biggest investor in Vietnam to seize every cooperation opportunity in the countries’ development process on the basis of equality, mutual respect, and mutual benefits. He made the remark at a meeting with a business delegation of the US - ASEAN Business Council (USABC) in Hanoi on March 21. Highlighting the two countries’ comprehensive and fruitful relations, Minister Dung said the US is currently the second largest trading partner and one of the leading export markets of Vietnam. It is also an important ODA provider and the 11th biggest among the 142 countries and territories investing in the Southeast Asian nation. Vietnam highly values the fruitful investment and business activities of US investors and hopes they will maintain their trust and … [Read more...] about Minister hopes US becomes biggest investor in Vietnam

The Mira Blockchain Center in Hanoi aims to bring blockchain technology to life through integrated technology-based physical products and high technology projects. The unit will play the role of researching, applying, deploying, and transferring blockchain technology in artificial intelligence-related technology and other sectors. Through research, Mira will create and utilize blockchain technology for ground-breaking technological solutions. The hands-on human resources training center will provide consultation services and technology deployment training for both local and international businesses. The Mira Blockchain Center's services include blockchain application services for asset management, finance, and supply chains, technology consulting services for businesses or organizations, and blockchain testing services for testing and evaluating blockchain performance in businesses. Leon Truong (Truong Gia Bao) from DTS (2nd, L) shakes hands with Ngo Van Tau from GMO … [Read more...] about Vietnam blockchain development center launched in Hanoi

The Vietnamese Government commits to creating all possible conditions for businesses to growth further, Prime Minister Pham Minh Chinh affirmed at the Vietnam Business Forum 2023 (VBF 2023) in Hanoi on March 19. PM Pham Minh Chinh speaks at the forum (Photo: VNA) Reviewing the country’s socio-economic recovery and development achievements in 2022, the PM said the macro economy remained stable, major economic balances were ensured, and notably the domestic investment and business environment was improved significantly. During the post-COVID-19 period, the foreign investment disbursement went up 13.5% as compared with 2021, which reflected Vietnam’s attractiveness in the regional and global investment maps, he said. Chinh stressed that the Vietnamese Party and State advocate green growth in order to ensure rapid, effective and sustainable economic development, contributing to implementing the 2021-2030 socio-economic development strategy. However, green … [Read more...] about PM pledges to further support enterprises at Vietnam Business Forum 2023

The ministry made this proposal in a draft law on special consumption tax that is being reviewed by other government agencies. Taxing online games was last discussed by the National Assembly in 2014 but not approved since many feared it could lower the competitiveness of domestic companies against foreign players. But the situation seems to have changed. In 2020 Vietnam had five of the 10 biggest video game publishers in Australia, New Zealand and Southeast Asia, according to ranking platform Data.ai. Out of every 25 games downloaded globally, one was made by a Vietnamese company, which put Vietnamese producers in seventh place in game downloads. In 2021 revenues from online games in Vietnam were worth $665 million, according to the Authority of Broadcasting and Electronic Information. It said many Vietnamese companies are based in Singapore, which makes it difficult to collect taxes. … [Read more...] about Finance Ministry wants online game companies taxed