Six leading Israeli fintech companies came to Vietnam to attend the “Fintech – accelerating digital transformation through AI & Automation Technologies” seminar, joining around 100 representatives from firms, banks, and insurance companies from Vietnam. Nadav Eshcar, Ambassador of Israel to Vietnam, delivered a speech at the fintech seminar The seminar was held in Hanoi by the Embassy of Israel Vietnam in co-operation with Israel Export and International Cooperation Institute and the Israeli Ministry of Economy and Industry. Addressing the seminar, Nadav Eshcar, Ambassador of Israel to Vietnam said that Israel’s fintech is now super powerful. “There are more than 500 fintech companies in Israel offering a variety of solutions which are extremely relevant to Vietnam, particularly to the financial sector. We carefully chose only six of them to invite to Vietnam this time,” said the ambassador. He also hoped that the businesses from … [Read more...] about Israeli companies seeking co operation in Vietnamese fintech
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Top startup trends in Vietnam confirm hi-tech bias
A report recently released by Topica Founder Institute (TFI), a startup accelerator program in Vietnam and Thailand run by Hanoi-headquartered multinational educational technology company Topica, says 92 major investment deals totaling $889 million were struck in Vietnam last year. The investment in Vietnamese startups tripled from 2017. Among these, the top five areas in attracting funding were Fintech, E-Commerce, Travel Tech, Logistics and Education Tech. Fintech Fintech ranked first with eight deals worth $117 million last year, according to TFI. Experts have said that Vietnam has a lot of potential for fintech development. According to a report by consulting firm Solidiance, the value of Vietnam’s fintech market is set to increase from $4.4 billion in 2017 to $7.8 billion in 2020. But fintech remains a new category in Vietnam with a small-scale ecosystem compared to other ASEAN members like Singapore and Indonesia, it said. While most startups are currently operating in … [Read more...] about Top startup trends in Vietnam confirm hi-tech bias
Bettering new social insurance policy on foreigners
Bettering new social insurance policy on foreigners, Photo: Shutterstock One of Vietnam’s leading English-language training centres, Apollo Education and Training Organisation (Apollo) has more than 400 foreign teachers working across the country and is one of the most hard-pressed to apply Decree 143. Nguyen Kim Dung, head of Apollo’s Legal, Compliance and Government Relations, told VIR that the procedures to pay insurance after foreign labourers are very complicated and are causing the company concerns. For instance, is examination in public hospitals possible for non-Vietnamese speakers? Does the insurance agency pay for foreign-language prescriptions? And do procedures to get death benefits have to be notarised and translated? “We worry that the complications may undermine the government’s policy on insurance for foreign workers. It is necessary to issue simple and convenient guidelines and procedures for foreign labourers to really enjoy the benefits of … [Read more...] about Bettering new social insurance policy on foreigners
Korean aircraft engine parts factory presents tech transfer opportunity
Technology transfer The project broke ground on September 21, 2017 and went into operation in December 2018. It will churn out the first batch of parts this month. After being granted an investment registration certificate, Hanwha Aero Engines sent Vietnamese technicians to take a crash technical course in the Republic of Korea. In addition, more than 40 Hanwha Group technicians are present at the factory to train about 200 Vietnamese technicians. Speaking at the inauguration ceremony, head of the Party Central Committee’s Economic Commission Nguyen Van Binh emphasized the Hanwha Aero Engines factory would become a typical example of technology transfer from Korean enterprises to Vietnam, opening up access to key technologies and enhancing the country’s technological capacity. According to Nguyen Van Binh, the Hanwha Group has invested in projects in Vietnam’s Bac Ninh, Long An, Hanoi and Ho Chi Minh City with total investment of about US$1 billion. With the … [Read more...] about Korean aircraft engine parts factory presents tech transfer opportunity
IREX pursues Munich Re’s PV Insurance
As the solar power insurance market is experiencing hot development, IREX Energy JSC, which has been exporting “Made in Vietnam” solar PV to the world, is teaming up with Munich RE to get PV insurance and protect itself against manufacturer’s risk. IREX and Germany-based Munich RE have agreed to insure the performance of every solar panel order manufactured by IREX. The move follows the recent co-operate with BIDV Insurance Corporation and is in line with IREX’s target by 2020 to obtain the Tier 1 standard of the Bloomberg New Energy Finance ranking system. A Tier 1 solar panel is expected to produce power for the entirety of its roughly 25-year lifespan. Thus, getting the deal with Munich RE is expected to help IREX to persuade banks to co-operate. Under the agreement, after several rounds of testing, Munich RE will supply a Sales and Buyers Insurance Policy for IREX dedicated exclusively to each PV project or energy buyer and including client’s … [Read more...] about IREX pursues Munich Re’s PV Insurance