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Founders of Ascend Vietnam Ventures, Binh Tran and Eddie Thai. — Photo Courtesy AVV Ascend Vietnam Ventures has said that it is looking for the next wave of globally iconic start-ups emerging from Viet Nam. It also announced that it had exceeded its US$50 million target for the flagship early-stage venture capital fund, AVV Alpha. With the new fund, AVV has been exploring a broad range of tech opportunities including those in financial inclusion, education and the future of work. It identified 10 start-ups in the last nine months, including Kilo, a SaaS and wholesale marketplace for over 30,000 micro, small and medium-sized retailers across Viet Nam; Virtual Internships, a remote internship placement and management platform for companies in over 70 countries; T&C Logistics, an e-commerce fulfilment platform in Viet Nam; and Mandu, a social commerce platform focused on reseller enablement. AVV Alpha is led by Binh Tran and Eddie Thai, who have been investing together in … [Read more...] about AVV to seek new wave of start-ups emerging in Viet Nam

Vietnamese Consul General to Vladivostok Nguyen Dang Hien meets Head of Sakha Republic Aisen Nikolaev. (Photo: VNA) Moscow (VNA) – Vietnamese Consul General to Vladivostok Nguyen Dang Hien made a working trip to the Republic of Sakha (Yakutia) from June 21-25 with the aim of promoting cooperation between Vietnam and this republic of Russia. At a meeting with the Head of Sakha Republic Aisen Nikolaev, Hien recalled the traditional friendship between Vietnam and Russia from the time of the Soviet Union. He informed the host of Vietnam’s economic recovery and development, particularly the encouraging economic indicators in the first five months of 2022. The diplomat stressed that Vietnam-Russia trade has seen remarkable growth, particularly after the Vietnam-EAEU free trade agreement took effect in October 2016, which is partly attributable to the Sakha republic’s contribution. However, Vietnam-Sakha cooperation in economy, trade, investment and tourism has not … [Read more...] about Vietnamese diplomat seeks stronger cooperation between Vietnam, Sakha Republic

National Assembly Chairman Vuong Dinh Hue (second, left) presents a gift to the Vietnamese expatriate community in the UK. (Photo: VNA) London (VNA) - The official visit to the UK by Vietnamese National Assembly Chairman Vuong Dinh Hue has come in a very opportune and important time, as the two countries are seeking ways to deepen their parliamentary and political dialogues, said Mr Wayne David MP, Chair of the All-Party Parliamentary Group (APPG) for Vietnam. Making his remarks in a virtual meeting with the Vietnam News Agency's correspondent in the UK ahead of the top legislator’s trip from June 28-30, Mr David said the visit is important not only symbolically, but in a very practical sense as well, because during the visit, the two sides will be talking about different issues important to both countries. According to the APPG Chair, Mr Hue will be meeting not only the Speaker of Commons and the Speaker of Lords, members of all political parties and the APPG, but also … [Read more...] about Top legislator’s UK visit comes in opportune and important time: APPG Chair

Illustrative image (Source: baodautu.vn) Hanoi (VNA) – A workshop themed “Vietnam as your Green business opportunities destination” was held by the Belgian Vietnamese Alliance (BVA) and the Flanders International Technical Agency (FITA) in Brussels on June 22 to introduce Vietnam’s potential in renewable energy and sustainable port development. Addressing the event, Vietnamese Ambassador to Belgium and Luxembourg Nguyen Van Thao said that although the world in general and the two regions of Asia and Europe in particular have seen positive signs of a “new normal” period after two years of being hit by COVID-19, the global economic environment has remained fragile due to various factors, including geopolitical uncertainties, new variants of the SARS-CoV-2 virus, severe disruption of supply chains, pressures from rising inflation, as well as the challenges in sustainable development and the unpredictable impacts of climate change. As a coastal country that suffers regular … [Read more...] about Vietnam, Belgium seek stronger partnership in renewable energy, port development

NA Chairman Vuong Dinh Hue (L) and his Hungarian counterpart László Kövér at the press meeting on June 27. (Photo: VNA) Budapest (VNA) – Vietnamese National Assembly (NA) Chairman Vuong Dinh Hue's official visit to Hungary has attracted attention from the media in Eastern Europe. In Hungary, Magyar Nemzet (Hungarian Nation) newspaper ran an article saying the two countries’ traditional friendship has recorded great strides, especially since the visit to Vietnam by Prime Minister Orban Viktor and a trip to the European nation by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong. Hue's visit from June 25-28 would create a stepping stone for the two countries’ comprehensive partnership to enter a new chapter in the time ahead, particularly after Vietnam and the European Union (EU) completed the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) and a free trade agreement (EVFTA), according to Magyar Nemzet. In its writing, Magyar … [Read more...] about NA leader’s Hungary visit grabs headlines on Eastern European media

Ascend Vietnam Ventures has exceeded its US$50 million target for its flagship early-stage venture capital fund, AVV Alpha. Ascend Vietnam Ventures (AVV), the fund led by Binh Tran and Eddie Thai, is seeking the next wave of globally iconic startups emerging from Vietnam. Eddie Thai is speaking at a growth event for founders. Photos: AVV The team has increased its investments in startups in Vietnam, seeding up to US$2 million into 25 startups next year and following on with checks of up to $5 million. With the new fund, AVV has been exploring a broad range of tech opportunities including those in financial inclusion, education, and future of work. AVV Alpha is backed by a mix of investors from Asia, Europe, and the US, including development finance institutions, funds, corporate VCs, and high-net-worth individuals from leading local and regional companies. It has picked ten startups in the past nine months, including Kilo (SaaS & wholesale … [Read more...] about Ascend Vietnam Ventures seeks building global startups in Vietnam

Large market potential According to the Vietnam Industry Agency (VIA) under the Ministry of Industry and Trade (MoIT), Vietnam’s mechanical engineering industry enjoys advantages in three main sub-sectors: motorcycles and motorcycle spare parts; household mechanics; automobile tools and parts. Specifically, domestic mechanical engineering enterprises such as VinFast, Thanh Cong, and Thaco now produce and assemble almost all types of vehicles including cars, trucks, and coaches. According to the VIA, domestically produced metal components have now met 85 to 90 percent of the motorcycle demand, 15 to 40 percent of automobile production needs, some 40 to 60 percent of agricultural and construction machinery, and about 10 percent of high-tech industry needs. Truong Thi Chi Binh, Deputy President of the Vietnam Association for Supporting Industries also said that mechanical and supporting industry enterprises now have great opportunities since Vietnam joined various free … [Read more...] about Mechanical industry seeks solutions to access global value chain

Hungarian Ambassador to Vietnam Ory Csaba (Photo: VNA) Hanoi (VNA) - Chairman of the Vietnamese National Assembly (NA) Vuong Dinh Hue ’s official visit to Hungary from June 26-28 will surely open up many cooperation opportunities for the two countries and their parliaments, Hungarian Ambassador to Vietnam Ory Csaba has affirmed. Talking to the press on the threshold of the trip made at the invitation of Hungarian National Assembly Speaker László Kövér, the diplomat said it will contribute to fostering the Vietnam-Hungary traditional relations and promise to bring practical effects. The visit is also an opportunity for leaders of ministries and branches of the two countries to interact and sign various agreements; and representatives of enterprises to seek investment and business cooperation chances, he added. According to the ambassador, Vietnam and Hungary share a 72-year relationship spanning different fields, particularly in education and culture. With … [Read more...] about NA Chairman’s visit to Hungary promises new cooperation opportunities: Ambassador

Talking to the press on the threshold of the trip made at the invitation of Hungarian National Assembly Speaker László Kövér, the diplomat said it will contribute to fostering the Vietnam-Hungary traditional relations and promise to bring practical effects. The visit is also an opportunity for leaders of ministries and branches of the two countries to interact and sign various agreements; and representatives of enterprises to seek investment and business cooperation chances, he added. According to the ambassador, Vietnam and Hungary share a 72-year relationship spanning different fields, particularly in education and culture. With Hungary planning to open a cultural centre in Hanoi, he wished Hue’s trip will see the sides achieving more progresses in their educational and cultural ties. Mentioning that bilateral trade reached 1.1 billion USD last year, he said he hoped the figure will grow further in the time to come. Parliamentary relations between the two countries are also a … [Read more...] about N.A. Chairman’s visit to Hungary promises new cooperation opportunities: Ambassador

Addressing the event, Assistant Foreign Minister and Head of SOM Canada Paul Thoppil affirmed that his country always attaches great importance to 45-year-ties with ASEAN, and underlined that ASEAN and the Southeast Asian region play a core role in the Indo-Pacific Strategy that Canada is going to announce. He said Canada hoped to engage deeper into regional cooperation through ASEAN-led mechanisms. In order to celebrate the 45-year partnership between the two sides (1977-2022), Thoppil proposed organizing an ASEAN-Canada Commemorative Summit in late 2022 in Cambodia and lift up their ties to a strategic partnership. The ASEAN member countries lauded Canada’s cooperation and support to the association over the years, including a commitment of contributing 3.5 million CAD (2.7 million USD) in five years to the ASEAN Fund for COVID-19 Response, 2 million CAD (1.54 million USD) to the ASEAN Coordinating Center for Humanitarian Assistance on disaster management, and 8.5 million CAD … [Read more...] about ASEAN, Canada seek ways to foster partnership