A peer-to-peer lending app (Photo: VNA) Hanoi (VNA) - Vietnam will create conditions for the development of a sharing economy, Deputy Prime Minister Vuong Dinh Hue said at a recent conference about the compilation of a sharing economy model. “The approach is to facilitate the development of a sharing economy, not to let it develop freely or ban it,” Hue said. According to the Ministry of Planning and Investment (MoPI), a sharing economy is a new business model which takes advantage of technology to reduce costs and reach customers through digital platforms, and will be the trend of the future. The sharing economy model has developed in recent years around six major sectors, including transportation, room sharing, e-commerce, employment, financial services and online advertising. The ministry said that more sectors will witness the introduction of sharing economy business models. Vietnam has witnessed these developments with models like Grab in the transportation … [Read more...] about Vietnam to facilitate sharing economy
Different sectors of economy
VN to facilitate sharing economy
Viet Nam will create conditions for the development of a sharing economy, Deputy Prime Minister Vuong Dinh Hue said at a recent conference about the compilation of a sharing economy model. “The approach is to facilitate the development of a sharing economy, not to let it develop freely or ban it,” Hue said. According to the Ministry of Planning and Investment, a sharing economy is a new business model which takes advantage of technology to reduce costs and reach customers through digital platforms, and will be the trend of the future. The sharing economy model has developed in recent years around six major sectors, including transportation, room sharing, e-commerce, employment, financial services and online advertising. The ministry said that more sectors would witness the introduction of sharing economy business models. Viet Nam has witnessed these developments with models like Grab in the transportation sector, peer-to-peer lending in the banking sector, condotels and … [Read more...] about VN to facilitate sharing economy
Automobile sector accelerates economy in 2018
Besides record-breaking achievements, the automobile industry was a growth highlight of Vietnam’s economy in 2018, particularly with the introduction of a made-in-Vietnam branded car. Despite being a new enterprise, VinFast has its own advantages upon entering the market, such as owning the first automobile manufacturing technologies from Germany in Vietnam. With a sound vision and high-quality human resources, the company has quickly come to own large manufacturing factories and a nationwide distribution system. Contrary to the acquisition of domestic enterprises by foreign conglomerates in the field of fast-moving consumer goods in the automobile industry through merges and acquisitions, Vietnamese enterprises have expanded their activities, increasing competitiveness both at home and in foreign countries. According to experts, Vietnam’s automobile enterprises have many choices in choosing projects to invest in and cooperate with. There remains huge potential with a … [Read more...] about Automobile sector accelerates economy in 2018
Start-ups embrace logistics sector
The logistics sector has been the bottleneck for Viet Nam’s economic development, but offers plentiful opportunities for local startup companies with the application of technologies. In a report on the Vietnamese logistics market released by the business data and information provider StoxPlus, the percentage of logistics cost over the nation’s total gross domestic product (GDP) is 20.8 per cent, much higher than the world’s average rate of 10-11 per cent. Also in the report, the number of vehicles in Viet Nam increases by 10 per cent each year while the development of transport infrastructure and facilities grows by just 3-4 per cent per year. The area of land used for transportation rises only 1 per cent, while the total area for parking lots meets just a small part of demand. According to Chief Executive Officer of Abivin Joint Stock Company, Pham Nam Long, inappropriate urban planning and underdeveloped transportation infrastructure are among the reasons causing … [Read more...] about Start-ups embrace logistics sector
Expert: Vietnam more flexible to take advantages of 4IR
Christopher Marks, Managing Director, Head of Emerging Markets Corporate Banking Division for EMEA, MUFG Bank Hanoi (VNA) - Vietnam is one of the really special cases worldwide that will be able to take full advantages of all of the new opportunities in the 4IR, a senior financial expert on emerging markets said on September 13. Christopher Marks, Managing Director, Head of Emerging Markets Corporate Banking Division for EMEA, MUFG Bank - Japan's largest bank and one of the world's largest, with offices throughout Japan and in 40 other countries - is attending the 27th ongoing World Economic Forum on ASEAN (WEF ASEAN) in Hanoi. He grants an interview with the Vietnam News Agency on the sideline of the forum. The following is the full text of the interview. Reporter: How will Vietnam take the advantages of the fourth industrial revolution as compared to other emerging nations worldwide? Christopher Marks: Vietnam arrives at the forth revolution with less institutional constraint, … [Read more...] about Expert: Vietnam more flexible to take advantages of 4IR