Grab plans to invest 500 mln USD in Vietnam in the next five years (Photo: VNA) Hanoi (VNA) – Grab Holdings Inc. announced on August 28 that it will invest 500 million USD in Vietnam in the next five years to expand its services in the country. Russell Cohen, head of regional operations of Grab, said this investment reflects the ride-hailing firm’s redoubled commitment to the Vietnamese market, noting that the country’s rapidly developing economy and young, mobile-first population makes it ripe for the adoption of digital services. He noted when Grab is expanding food and parcel delivery, transport and payments business across the country, it hopes to tap and invest in new opportunities emerging in financial technology, mobile technology and logistics to bring about greater value and innovation to its customers and partners. By the end of 2019, the firm – one of the largest tech investors in Vietnam – will have invested more than 200 million USD … [Read more...] about Grab to invest 500 mln USD in Vietnam in next five years
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Illustrative image (Source: VNA) HCM City (VNA) – China approved investment projects and merger & acquisition deals worth 2.45 billion USD in the first seven months of this year, ranking third among foreign investors in Vietnam, said a Chinese official. At a trade conference within the framework of the Zhejiang International Trade Expo 2019 held in Ho Chi Minh City on August 1, Commercial Consul Li Jianliang at the Chinese Consulate General in the city said the comprehensive strategic cooperative partnership between Vietnam and China has grown in diverse areas with two-way trade exceeding the 100 billion USD benchmark last year. By the end of 2018, China had invested in 2,149 projects with a total registered capital of 13.4 billion USD in Vietnam, he said. To Ngoc Son, Deputy Director of the Ministry of Industry and Trade’s Department of Asia-Africa Markets, said Vietnam has increasingly integrated into the world economy and become one of the most attractive … [Read more...] about China ranks third among foreign investors in Vietnam
Workers at China's AKA Homewares Company in southern Long An province (Photo: VNA) Hanoi (VNS/VNA) - Chinese companies are accelerating investment in Vietnam, but some local businesses are voicing concerns. Foreign investment hit a four-year high of 16.7 billion USD in the first five months of this year, up 69 percent compared to the same period in 2018. Chinese investment made up 42.5 percent of the total according to data released by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. If including Taiwan’s investment, Chinese investors poured nearly 7.7 billion USD in Vietnam, surpassing the Republic of Korea, Singapore and Japan to become the biggest foreign investor. In its recent report, the FIA said the trade tensions between China and the US has a significant impact on the shift of Chinese investment. Investments from mainland China and Hong Kong increased from 3.7 billion USD in 2017 to 5.8 billion USD in 2018 and 7.1 billion USD … [Read more...] about Growing Chinese investment in Vietnam: time to worry?
Samsung Showcase, a technology exhibition and experience centre, was launched at the Bitexco building in Ho Chi Minh City on March 15 (Photo: VNA) HCM City (VNA) – Samsung Vietnam (Samsung Vina) officially launched the Samsung Showcase, a technology exhibition and experience centre at the Bitexco building in Ho Chi Minh City on March 15. This is the third centre of this kind of Samsung in the world, following those in New York (the US) and Frankfurt (Germany). The centre, spreading across over 1,000sq.m., is divided into 18 areas, giving visitors a chance to discover the latest breakthrough technologies of the group in mobile devices, visual-audio equipment and home appliances, as well as experimental products not yet available on the market. General Director of Samsung Vina Suh Kyung Wook said the experience space is hoped to become a symbol and a new technological destination in the city. Samsung Vietnam has total investment of over 17.3 billion USD in Vietnam and … [Read more...] about Samsung launches modern technology experience space in Vietnam
Prime Minister Nguyen Xuan Phuc (right) and Belgian Ambassador Paul Jansen (Photo: baochinhphu.vn) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has suggested Belgian Ambassador Paul Jansen contribute to raising trade turnover between Vietnam and Belgium to 3 billion USD in the time ahead. At a reception for the newly-accredited ambassador in Hanoi on November 23, PM Phuc said the Vietnam-Belgium relationship has developed fruitfully across fields. However, the two-way trade at 2.3 billion USD in the first ten months of this year has yet to match potential and strength of each side. Recalling his official visit to Belgium last October, the PM said outcomes of the visit will create a firm foundation for strengthening the bilateral relations. He expressed his hope to welcome the Belgian Prime Minister in Vietnam as soon as possible. He told Ambassador Jansen that Vietnam has actively prepared for the EU-Vietnam Free Trade Agreement (EVFTA) and called on Belgium to back the … [Read more...] about PM hopes for 3 billion USD in Vietnam-Belgium trade