Sector invest

Deputy Prime Minister Trương Hoà Bình speaks at the 2019 Đắk Lắk investment promotion conference held on March 10 in the province. VNS Photo Việt Dũng Viet Nam News Xuân Hiệp & Việt Dũng ĐẮK LẮK — Deputy Prime Minister Trương Hoà Bình has urged the Central Highlands region to build a Vietnamese coffee brand capable of competing with rivals at home and abroad. Speaking at the opening ceremony of the seventh Buôn Ma Thuột Coffee Festival on Saturday night, Bình said the region should aim to become a “world famous coffee destination”.  The area is known for its basaltic land with huge rubber and coffee plantations, he noted. “The Central Highlands region has great advantages and potential for coffee plantations and exports.” Đắk Lắk Province’s coffee products, with the … [Read more...] about Central Highlands province opens coffee festival, calls for investment

Out of the 154 fintech startups, 37 operate in payments, 25 in P2P lending and 22 in blockchain and crypto and remittance, according to a survey by the Banking Technology Development Research Institute (BTI), National University of Ho Chi Minh City, released at a fintech conference in HCMC on Monday. The rapid growth of fintech has transformed the financial and banking sector by offering consumers more convenient products and services. Fintech companies in Vietnam are likely to continue encroaching on the retail market share of traditional banks, with peer-to-peer lending, e-wallets, payment and cashless payments becoming an integral part of everyday life, the report noted. However, areas such as asset management, liquidity management, investment management, insurance, and automated advisory services are still in their infancy, it added. Hoang Cong Gia Khanh, director of BTI, said: "Because 70 percent of Vietnam’s fintech companies are still startups, it will be difficult to … [Read more...] about Vietnam fintech sector in the fast lane

The cyber-physical learning factory of Festo (Photo courtesy of the company) HCM City (VNS/VNA) - Festo, a German supplier of automation technology and technical education, plans to expand investment in Việt Nam to take advantage of the increasing foreign investment and production in the country. Ansgar Kriwet, member of the management board of Festo, said Việt Nam has the fastest growing economy in Southeast Asia with a growth rate of 6.5 per cent. Manufacturing is its strongest sector and accounts for more than 50 per cent of FDI, he said. As Asia’s new manufacturing hub, Việt Nam requires strong support from motion automation, he said. Putting industry 4.0 into action means both intensively investigating new technologies and preparing employees for the challenges of future production, he added. Festo’s cyber-physical systems encompass the new developments of networked production in industry 4.0 and offer a modular smart factory system for teaching … [Read more...] about Germany automation firm Festo to expand investment in Việt Nam

Vinh Phuc has planned to develop a total of 50 industrial parks and clusters, covering a total area of ​​more than 5,890ha. — Photo banqlkcn.vinhphuc.gov.vn The northern province of Vinh Phuc has become popular among domestic and foreign investors thanks to its breakthrough on socio-economic development, favourable location, young population and abundant labour force and a high proportion of trained workers. Located close to Ha Noi, Vinh Phuc has to date attracted 752 domestically-invested projects with a total registered capital of more than VND78 trillion (US$3.34 billion). It has also lured 378 foreign-financed projects worth more than $5 billion. These impressive results are attributable to the province’s endless efforts to improve its investment climate and to facilitate investors to solve challenges to implement their projects in a timely manner. In the past, the province has always ranked high on the Provincial Competitive Index (PCI) which has been … [Read more...] about Vinh Phuc emerges as an attractive investment destination

  Vĩnh Phúc has planned to develop a total of 50 industrial parks and clusters, covering a total area of ​​more than 5,890ha. Photo banqlkcn.vinhphuc.gov.vn HÀ NỘI — The northern province of Vĩnh Phúc has become popular among domestic and foreign investors thanks to its breakthrough on socio-economic development, favourable location, young population and abundant labour force and a high proportion of trained workers. Located close to Hà Nội, Vĩnh Phúc has to date attracted 752 domestically-invested projects with a total registered capital of more than VNĐ78 trillion (US$3.34 billion). It has also lured 378 foreign-financed projects worth more than $5 billion. These impressive results are attributable to the province’s endless efforts to improve its investment climate and to facilitate investors to solve challenges to implement their projects in a timely manner. In the past, … [Read more...] about Vĩnh Phúc emerges as an attractive investment destination