Capital attraction

Impressive growth According to Deputy Minister of Planning and Investment Tran Duy Dong, in recent years, Vietnam has adopted many mechanisms and policies for innovation, as reflected in the Global Innovation Index (GII), on which Vietnam jumped from 52 nd place (out of 141 countries) in 2015 to 44 th (out of 132) in 2021. It also tops the group of 29 countries with the same income level. The Vietnam Innovation and Technology Investment Report 2021 was jointly released by Vietnam National Innovation Center (NIC) under the Ministry of Planning and Investment (MoPI) and the venture capital firm Do Ventures, providing an overview of investment in innovation and startups. It reported that 2021 was a record year for venture investment in Vietnam with total investment of US$1.4 billion, compared to the previous record of US$874 million in 2019. Last year also saw the appearance of two new technology “unicorns” - Momo and Sky Mavis. NIC reported that the total number of … [Read more...] about Capital investment in Vietnam’s innovation almost doubles

The Hanoi government will improve mechanisms and policies to encourage the participation of the private sector in the field of high-tech agriculture. Hanoi needs to remove two barriers of capital and land to attract businesses to invest in high-tech agriculture, according to local media. Applying high-tech in agriculture is inevitable for the capital city’s farming sector, especially in face of the Industrial Revolution 4.0 which has strong impacts on socio-economic life. In order to remove the agricultural development hindrance, the Hanoi government has implemented a number of solutions such as providing businesses, cooperatives, cooperative groups, farms, and households with money from the city's funds for processing and conservation of high-tech agricultural products. Tending hydroponic vegetables at Duc Phat High-tech Agricultural Cooperative (Thanh Tri district). Photo: Ba Hoat In particular, under the Hanoi Agricultural Sector’s restructuring plan … [Read more...] about Hanoi needs to remove barriers to develop high-tech agriculture

Kevin Coppel, Asia-Pacific managing director (left ) and Christine Li, Asia-Pacific head of research for Knight Frank in Singapore When the US-China trade tensions bubbled over in 2018, corporates found it increasingly difficult to carry out business in China due to sourcing uncertainties and rising costs. This trend only worsened in the face of the pandemic and resulting border closures. Businesses responded by pursuing opportunities to set up bases outside of China while still retaining a stake in one of the world’s strongest economies. The China+1 strategy thus emerged. It is based on diversifying its supply base into other countries in order to minimise the risk of disruptions arising from geopolitical tensions, trade wars and tariffs, as well as rising labour costs. These companies are not abandoning China but rather giving themselves options, enjoying the best of what China and other economies have to offer. In pursuit of the China+1 strategy, the spotlight is naturally … [Read more...] about Will Vietnam become a big geopolitical beneficiary?

The pandemic has pushed forward the trends of e-commerce in Vietnam 2-3 years earlier than forecast with the sector growing in size four times over last year, according to a 2021 Lazada report. “Some of the e-commerce trends we expected would happen in 2025, such as in edutech and fintech, have already happened in 2022,” noted Nguyen Huy Hoang, chief business officer at OnPoint E-commerce. “Hence, all e-commerce platform companies are investing hugely in Vietnam.” However, as shopping centres and small brick-and-mortar stores are now reopened, many investors are concerned that the boom in e-commerce was just a short-term fad and the majority of consumers could quickly shift back to offline shopping. On May 12 at the Vietnam Online Business Forum, the general consensus amongst experts was that e-commerce will continue to boost the economy after the pandemic. Specifically, in the first quarter of 2022, the industry saw more than 8 million new online consumers. A survey … [Read more...] about All to play for in e-commerce rise

An overview of the conference. (Photo: VNA) Hai Phong (VNA) – A conference was held in the northern port city of Hai Phong on May 25 to promote French investment in the locality. investors and enterprises. Kien said the city expects to attract investment from the European Union ’s enterprises in the fields of electronics manufacturing, high technology, automobile industry, agriculture, renewable energy, education and training, among others. Nicolas Warnery, French ambassador expressed his wish for a stronger partnership between the city and French businesses. By the end of April, the city had been home to 64 foreign direct investment businesses from EU member countries with a total capital of 932.1 million USD. Their revenue neared 50 million USD and they contributed 190 billion VND (8.1 million USD) to the state budget./. VNA … [Read more...] about Hai Phong promotes investment from French enterprises