Community development venture capital

Prime Minister Pham Minh Chinh speaks at an event on innovation held by Asia Society on May 17 (US time). — Photos baochinhphu.vn Viet Nam expects to have start-up collaboration with the US on issues of global concern like climate change, digital technology and supply chain diversification. Prime Minister Pham Minh Chinh was speaking at a forum on innovation and start-ups held by the Asia Society on May 17 (US time) in the US. He affirmed that Viet Nam identifies science and technology, innovation and entrepreneurship as important driving forces for development in the new period. All three strategic breakthroughs that Viet Nam identified namely institutions, infrastructure and human resources are related to these forces, he added. The Prime Minister expressed his wish that US partners will continue promoting cooperation activities, especially in innovative start-ups. Start-up collaboration should focus on issues of global concern that the two countries are promoting … [Read more...] about Viet Nam to work with the US to develop start-ups on climate change, digital transformation

Accordingly, the city set massive targets for housing development, including a demand of at least 6.7 million square meters of housing and an average housing floor area per person reaching at least 21.2 square meters, extending 194.6 hectares of land for commercial housing projects and 52.1 hectares for social housing projects . Regarding capital sources, the city will need around VND72,578 billion (US$3.1 billion), including VND28,435 billion (US$1.2 billion) for commercial housing projects, VND43,456 billion (US$1.9 billion) for individual houses and VND698 billion (US$30 million) for social housing projects. Besides, the city is also reviewing the land fund of 20 percent for social housing construction at commercial housing projects and new urban areas in the locality. In addition, Ho Chi Minh City also proposed the State Bank to monitor and direct the commercial banks on strictly controlling the loans in the real estate sector, money transfer from real estate to overseas, … [Read more...] about HCMC needs over US$3 bln for housing development

US International Development Finance Corporation (DFC) and Fulbright University Vietnam (FUV) recently signed a financing agreement for $37 million in DFC financing for FUV’s new campus in Ho Chi Minh City. Prime Minister of Vietnam Pham Minh Chinh witnessed the signing ceremony on May 12 on the margins of the US-ASEAN Special Summit, a testament to the ongoing partnership between the United States Government, the Government of Vietnam, and the private sector to advance economic growth and opportunity in Vietnam. With support from the United States and Vietnamese governments, this project seeks to close the gap between the demand for skilled employees in Vietnam’s workforce and educational opportunities in the country, which currently falls short of what Vietnam and the region need for further development. Through its new campus, FUV plans to support Vietnam and the region in addressing complex and cross-cutting challenges including climate change, defensive … [Read more...] about US and Vietnam partner to advance higher education and workforce development

Intel Capital, the investment arm of the world’s largest chipmaker, has announced it is pouring US$17 million into companies in Vietnam and Singapore, marking its first-ever investment in this country. The money will be split in undisclosed amounts between Vietnam Communications Corporation and Singapore’s Reebonz.com, Intel said during the World Economic Forum in Bangkok on May 31. The company called Southeast Asia one of the world’s fastest-growing markets for advanced technology, driven by robust economic growth and a rising middle class. “As a result, we’re seeing strong demand for e-commerce and cloud-based services across the region, and these investments will help to accelerate that trend,” said Gregory Bryant, vice president and general manager of Intel Asia-Pacific. Its Hanoi-based partner, an internet infrastructure and services company, declined to give a dollar figure for the investment. But, “It’s not a small sum,” the corporation’s deputy general director … [Read more...] about Intel Capital invests in Vietnam for first time

In a thank-you letter to the Lao N.A. Chairman, Hue thanked the Lao legislative leader and other leaders for the warm welcome and the sincere, straightforward and trustful discussions during his visit, which he said contribute to promoting the further development of the great friendship, special solidarity and comprehensive cooperation between the two countries in general and the two legislative bodies in particular. Earlier before leaving Laos, N.A. Chairman Hue and the high-ranking N.A. delegation called at the Vietnam Consulate General in Pakse, Champasak province, and met with representatives from the Vietnamese community in four southern Lao provinces (Champasak, Attapeu, Sekong and Salavan). The top legislator appreciated the work of the Vietnamese Association in Southern Laos in helping members develop home economy, follow local laws and contribute to local development, thus contributing to the Vietnam - Laos traditional friendship. Noting the large number of Vietnamese in … [Read more...] about N.A. Chairman Vuong Dinh Hue concludes official visit to Laos

A wind power project in the northern province of Ninh Thuan. — Photo evn.com.vn The Vietnamese economy’s unparalleled exposure to multinational corporations and the global consumer market calls for a pragmatic alignment between the country’s renewable energy strategy and the decarbonisation commitments of the global brands, according to IEEFA’s latest report on Viet Nam. “Multinational corporations responsible for up to US$150 billion of Viet Nam’s export revenues have made specific pledges on carbon neutrality or decarbonisation of varying scope and timelines,” said Thu Vu, energy finance analyst leading the Vietnamese market coverage for IEEFA. “These brands’ journey toward sustainability progress is one in which Viet Nam can not afford to ignore or miss out on.” Viet Nam is currently the largest exporter of goods in developing Southeast Asia. With nearly 60 per cent of the exports being manufactured goods for the big brands, its growing role in the global supply chain … [Read more...] about IEEFA: Viet Nam’s manufacturing future rests on a credible renewable energy game plan