Tech investments

Hanoi (VNA) – Politburo member and Secretary of Hanoi’s Party Committee Vuong Dinh Hue asked foreign hi-tech groups to consider investing in the city’s existing industrial zones, including the Hoa Lac Hi-Tech Park, while receiving representatives from FDI enterprises operating in the high technology industry on January 19. Hue encouraged the Kinh Bac City Development Holding Corporation (KBC) to invest in industrial zones in Soc Son and Dong Anh districts to attract more foreign businesses. He expressed his hope that major technology groups will set up search and development (R&D) and innovation centres in Hanoi in the way the Republic of Korea’s Samsung Group has done. The official highlighted the fact that the capital city is home to 82 percent of universities, 65 percent of scientists and 80 percent of key scientific and technological research potential of the country. At the working session, leading officials of Heesung Electronics, Goertek … [Read more...] about Hanoi calls on foreign firms to invest in industrial zones

“The investment will be used to grow users based on the existing ecosystem, develop strategic technology solutions and people investment with the mission to bring convenience, security and happiness for Vietnamese people by providing platforms in financial services on mobile devices,” the Vietnam News Agency quoted Nguyen Thuan Chat, co-founder and CEO of Gpay, as saying. … [Read more...] about Vietnam’s e-wallet Gpay draws funding from S.Korean financial firm in Series A investment

For example, by imposing business conditions or other restrictions on new businesses, the state agency can reduce the competition faced by SOEs. Policies and institutional structures that constrain competition are not in the national interest. While constraints to competition can make individual SOEs more profitable, the resulting lack of competition stifles innovation and productivity growth. “This hurts consumers because of higher costs and less innovation and variety; hurts workers because reduced productivity growth means reduced growth in wages; hurts other investors whose firms are being constrained, and hurts the government because of increased opportunity for corruption,” Mallon explained. … [Read more...] about Reshuffle underway to further stimulate revival of economy

According to the Foreign Investment Agency under the Ministry of Planning and Investment, FDI commitments to Vietnam dropped by 13.7 percent in the first eight months of the year compared to the same period last year due to the impact of the Covid-19 pandemic. However, Vietnam is hopeful that free trade agreements, especially newly implemented EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) will provide opportunities for Vietnam to promote economic recovery. … [Read more...] about Bright outlook for Vietnam’s economy despite Covid-19 setback

Steelmaker HPG rose 0.2% to VND41,700 and was the most actively traded stock in the group of large-cap stocks, with 37.9 million shares changing hands. Bank stocks STB and TCB also had good liquidity, with 34.4 million and 25.77 million shares transacted, respectively. … [Read more...] about VN-Index recovers slightly after steep fall