Asia pacific business review

Permanent Deputy Prime Minister Trương Hoà Bình delivered a keynote speech at a high-level session of the 10th Regional Conference of the Anti-Corruption Initiative for Asia-Pacific, themed “Preventing and Combating Corruption in Infrastructure Projects in Asia-Pacific”, in Hà Nội on Friday. — VNA/VNS Photo HÀ NỘI — Deputy Prime Minister Trương Hoà Bình has asked the Government Inspectorate to learn from international experience in combating graft, especially in infrastructure projects, in order to ensure the country's sustainable development. He made the remark on Friday at the closing ceremony of the four-day 10th Regional Conference of the Anti-Corruption Initiative for Asia-Pacific, which was started in 1999 by the Asian Development Bank (ADB) and the Organisation for Economic Co-operation and Development (OECD), and was hosted this year by the Government of Việt Nam … [Read more...] about Corruption-free infrastructure key to sustainable development: Deputy PM

Vietnam's emerging startup scene is proving to be a case of right place, right time for local and international venture capital funds. Eleven “rising star” startups in Southeast Asia in September converged at the “500 Startups Demo Day” in Ho Chi Minh City to spotlight the dynamic technology landscape in Vietnam and broader Southeast Asia. “There’s more hype about Vietnam’s tech scene now than ever before, as this is an exciting time for Vietnam overall,” said Mr. Eddie Thai, General Partner at 500 Startups Vietnam. “Vietnam is fast becoming an attractive destination for local and international venture capital funds, who are hoping to capture the growing consumer opportunities and leverage the Vietnamese entrepreneurial spirit.” Rising appetite Vietnam’s startup sector is growing at a rapid clip despite the global economic slump and is closing the gap with regional leaders. In only two years, it has made a big leap … [Read more...] about Startups catching the eye

The State Bank of Viet Nam (SBV) has instructed local banks to better control risks in corporate bond investment, especially bonds of real estate firms. According to the SBV, after reviewing the business performance of banks in the first half of this year, it saw the corporate bond investment of some banks facing risks as the ratio of such investment was high and is continuing to rise. Notably, the amount of bond investment in construction and real estate firms at some banks accounted for a large proportion of the banks’ total assets while the real estate market has not yet recovered firmly and the business performance of realty firms still faces many difficulties. In addition, some banks also invested in bonds with other purposes, such as to restructure debts of issuers, which have high risks. In order to ensure the safety of the banking system and limit risks in corporate bond investment, under the direction, SBV required banks to review their internal regulations related to … [Read more...] about VN banks warned about risks of real estate corporate bonds

During a reception in Hanoi on December 6 for OIF Secretary General Louise Mushikiwabo, Binh said as an active Francophone member in Asia-Pacific, Vietnam will keep working to increase Francophone presence in the region, especially launching initiatives to enhance collaboration between Francophone countries in Africa and those in the region, as well as between OIF, the Union of African States and the Asia-Pacific, and with ASEAN in particular. He affirmed that Vietnam highly values the OIF’s efforts to seek solutions to political conflicts in its member countries, build trust, expand solidarity and joint work in economy, culture and languages. Permanent Deputy Prime Minister Truong Hoa Binh (R) and OIF Secretary General Louise Mushikiwabo Vietnam wants the OIF to continue building and implementing people-oriented policies, encourage the active involvement of Francophone businesses, women and youths in economic cooperation while promoting South-South cooperation … [Read more...] about Vietnam commits to partnering with OIF member states: Deputy PM

Illustrative image (Photo: VNA)   Hanoi (VNA) – Permanent Deputy Prime Minister Truong Hoa Binh delivered a keynote speech at a high-level session of the 10th Regional Conference of the Anti-Corruption Initiative for Asia-Pacific, themed “Preventing and Combating Corruption in Infrastructure Projects in Asia-Pacific”, in Hanoi on December 6. In his speech, Binh said Vietnam considers infrastructure building as one of the three strategic breakthroughs to turn itself into a modern-oriented industrialised nation. To such end, he said Vietnam will focus on four tasks, including fine-tuning laws and policies, effectively using resources for infrastructure development, especially in land, construction, investment, construction, investment, bidding; pooling non-State resources for infrastructure development, especially in the form of public-private partnership; prioritising investment in national defence-security or projects that fail to call for investment; and … [Read more...] about Deputy PM addresses conference on anti-corruption initiative