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Billionaire Pham Nhat Vuong plans billion-dollar IPO in the US

April 14, 2021 by vietnamnet.vn

Vingroup’s billionaire Pham Nhat Vuong is taking an unexpected step entering the world’s largest electric car market.

Tỷ phú Phạm Nhật Vượng tính thương vụ tỷ USD ngay trên đất Mỹ

Vingroup’s billionaire Pham Nhat Vuong

Bloomberg has cited a source as saying that Vingroup Group (VIC) of billionaire Pham Nhat Vuong is considering an initial public offering (IPO) in the US for its VinFast auto company, which is expected to mobilize about $2-3 billion.

VinFast expects a valuation of at least $50 billion or even up to $70-75 billion. With this valuation, the capitalization of VinFast will surpass the famous car maker Ferrari (capitalization at $52 billion), Honda ($51 billion), Ford ($49 billion), Kia ($30 billion) … and only behind some famous brands such as Tesla, Toyota, Volkswagen, Mercedes Benz, GM, BMW and others.

This is an unexpected move, but it is in line with his aim of conquering the top market in the world.

The information was released when Vuong’s VinFast company began receiving the first orders for electric cars in Vietnam last month and had models shown on CNN, paving its way into the US market.

VinFast has also registered two electric car models in the US and will sell a number of models in Vietnam, the US, Canada and Europe from late 2021.

In the trading session on April 12, Vingroup shares (VIC) – VinFast’s parent company – increased by 5.7% to VND132,000/share, helping the group’s capitalization reach more than $19 billion to be the largest capitalized enterprise in Vietnam’s stock market.

During the morning session of April 13, Vingroup shares continued to rise by more than 4 percent, to nearly VND138,000 per share.

As the price for VIC shares soared, Vuong’s assets rose to over $9 billion and he became the 262nd richest person in the world.

If the IPO is successful, VinFast will set a new record, surpassing the record of $1.4 billion in capital mobilization in 2018 of Vinhomes (Vingroup’s real estate management company).

At that time, VinFast was also the first Vietnamese company listed in the US.

VinFast is Vingroup’s company that manufactures motorbikes, and gasoline- and electric-powered cars. The business, only a few years old, began delivering gasoline fueled cars (using engines licensed by BMW) in 2019.

In the mobile phone segment, Vingroup has achieved many positive results, with the sale of Vsmart phones in the country increasing over the past year, even though the No. 1 private corporation in Vietnam just entered the smartphone market in 2018. Vingroup has become the 3rd largest smartphone manufacturer in Vietnam, behind only Samsung Electronics and Oppo.

On the website of the leading US carrier – AT&T – an image of the first Vingroup smartphones has appeared, a testament to the group’s plan to enter the American smartphone market.

Pham Nhat Vuong has great ambition in the field of technology and industry, with Vsmart phones, Vinfast cars and electric cars.

In recent years, Vuong’s Vingroup had to withdraw from many fields, selling the retail segment to billionaire Nguyen Dang Quang and recently presenting the Youth Football Training Center to Van Lang Education Group, even though it had many achievements in these fields.

V. Ha

Filed Under: business Pham Nhat Vuong, Vinfast, Vingroup, IPO, US, stock market, electric car, Vietnam breaking news, Vietnam news, Vietnam latest news, Pham..., Billion Dollar Shave Club, one billion dollars, billion dollars, billion dollar babies, Billion Dollar Industry, 1 billion dollar house, 1 billion dollar bill, pham nhat vuong family, billion dollar buyer, Billion Dollar Roundtable, Nhat Vuong

Healthcare focus for Brit investors through UVFTA

April 14, 2021 by www.vir.com.vn

1539 p12 healthcare focus for brit investors through uvfta
Representatives of Vietnam and the UK hand over notes confirming the date when the UKVFTA comes into force. Photo: VNA

Emily Hamblin, UK consul general in Ho Chi Minh City and trade director for Vietnam, said that May 1 is the next milestone to celebrate in the United Kingdom and Vietnam’s timeline of implementing the free trade deal (UVFTA), when the agreement will legally enter into force.

However, the benefits of it have already been in place for several months, being provisionally applied from January 1. Some 65 per cent of all tariffs have already been eliminated and this will increase to 99 per cent over the next six years. This equates to tariff savings of $134.65 million per year on Vietnamese exports to the UK by full implementation, and of $42.52 million per year on UK exports to Vietnam.

Among them, there are huge cooperation opportunities in the field of healthcare. Hamblin said that in an age of growing challenges from non-communicable diseases, and emerging threats from infectious diseases such as COVID-19, digital health has the potential to offer new solutions and alleviate pressure on overstretched health systems. Digital health technology can empower patients to actively participate in their care, improve clinical outcomes, and enhance operational efficiency.

Innovation and technology have touched many aspects of life in Vietnam and healthcare is no exception. In a concerted effort to embrace Industry 4.0, the Vietnamese government has committed to a national agenda that seeks to harness the potential of digital solutions across the healthcare system. This has set a solid foundation for digital transformation in Vietnam, and the UK shares many of the same aspirations.

“We seek to utilise digital innovation to expand equitable access to quality care, in line with United Nations Sustainable Development Goal 3 on good health and wellbeing. At the early stage of digital transformation, Vietnam has plenty of opportunities to avail of innovative solutions from the UK,” Hamblin stressed.

Meanwhile, Nitin Kapoor, chairman and general director of AstraZeneca Vietnam, said, “As AstraZeneca continually strives to put patients first, we appreciate the UVFTA that is helping to ensure continued access to our innovative and high-quality medicines for millions of Vietnamese patients.

British pharmaceuticals like AstraZeneca can enjoy the increased protection and enforcement of intellectual property rights, internationalised standards and technical regulations, and enhanced transparency of policies on government procurement and reimbursement, which in turn will allow us to better serve local patients.”

Kapoor stressed that the UVFTA entering into force is especially meaningful when the UK and Vietnam are looking forward to another decade of bilateral strategic partnership, cooperating ever more closely in numerous areas, including healthcare, to strengthen the livelihoods and economic prosperity of the people.

Indeed, a number of UK healthcare investors have started to set up their presence in Vietnam. Last year London-based Real Capital London launched a $156 million Hong Anh Medical Campus project in Ho Chi Minh City. The facility will be a state-of-the-art healthcare system incorporating a 462-bed hospital, a medical training centre, a network of general practice clinics and pharmacies, and senior residencies and nursing homes, adding much needed facilities and services to Vietnam’s healthcare system.

The project is divided into four stages, with the final phase expected to be completed by 2030. The fund’s vision is to build a state-of-the-art medical campus under British standards, offering the highest standards of healthcare in Vietnam

As of present, British investors have poured $3.87 billion across over 400 projects in Vietnam and is the 15th-largest foreign investor in the country. Established British actors already here include financial services companies like HSBC, Standard Chartered Bank, and Prudential; Jardines in real estate; and healthcare companies such as AstraZeneca, GSK, and Reckitt.

In the past decade, Vietnam and the UK already enjoyed a strong growth cycle – with bilateral trade growing on average 12 per cent per year. The UVFTA is built upon that strong basis and is opening the doors to increase capital flow between the two nations, according to Hamblin.

She stressed that the UVFTA provides better market access for services, as Vietnam has committed to opening up markets beyond that set out within the World Trade Organization’s baseline, which delivers greater market access for UK service providers. These and other measures set out in the FTA represent real benefits for both businesses and consumers.

In the same vein, Kenneth Atkinson, executive chairman of Grant Thornton Vietnam and a board member of Britcham Vietnam, said that the UVFTA is one of the first signed and entered into by the UK, after leaving the European Union last year. The agreement reflects the importance both the UK and Vietnamese government place on the strategic partnership and the growing importance of the bilateral relationship.

Atkinson expected that a reduction in regulatory barriers and red tape will attract UK investors to Vietnam, particularly in the healthcare space.

By Thanh Van

Filed Under: Uncategorized Healthcare, UVFTA, UK-Vietnam Free Trade Agreement, British healthcare investors, ..., riady scion steadies lippo with focus on property healthcare, focus on healthcare

Semiconductor crisis forces top-level action

April 13, 2021 by www.vir.com.vn

1539 p11 semiconductor crisis forces top level action
Semiconductor crisis forces top-level action. Source: freepik.com

The world’s semiconductor industry sales hit $40 billion for the month of January – a rise of 13.2 per cent on-year, revealed the Semiconductor Industry Association.

Now, consumers are having to deal with price hikes and a lack of products from automobiles and videogames to TVs and smartphones as a global shortage in semiconductors grows.

The shortage in chips, the so-called “brain” within every electronic device, has been slowly getting worse since last year, according to The Guardian. Temporary delays in supplies as factories shut down due to the coronavirus pandemic caused initial issues. However, although production is somewhat back to normal, surges in the demand driven by new habits stemming from the pandemic is causing the situation to worsen.

Mainly, a boom in sales of TVs and computers, the launch of brand new videogame consoles, and arrival of 5G-enabled mobile phones have all driven the demand.

The crisis has even affected Apple, the biggest buyer of semiconductors at $58 billion annually. It was forced to delay the launch of the iPhone 12 by two months last year as a result of the shortage.

“Chips are everything,” said Neil Campling, media and tech analyst at Mirabaud. “There is a perfect storm of supply and demand factors going on here. But there is a new level of demand that can’t be caught – everyone is in crisis and it is getting worse.”

In possibly the most shocking development, Samsung – the world’s second-largest buyer of chips – last month said it might have to postpone the launch of a high-end smartphone, despite also being the world’s second-largest producer of chips.

“It is incredible that Samsung sells $56 billion of semiconductors to others, and consumes $36 billion of them itself, finds it may have to delay the launch of one of its own products,” said Campling.

Ford meanwhile recently cancelled shifts at two car plants and said profits could be hit by up to $2.5 billion this year due to chip shortages, while Nissan is delaying output at plants in both the United States and Mexico. General Motors also said it could face a $2 billion profit hit.

In February Sony, which along with other console makers has struggled with stock shortages over the last year, said it might not hit sales targets for the new PlayStation 5 this year. Its rival, Microsoft’s Xbox, forecasts supply issues continuing at least until the second half of the year.

In a bid to unblock the jam, governments are now getting involved. CNBC reported a fortnight ago that US President Joe Biden is looking to place $37 billion into the sector in an attempt to lower America’s reliance on overseas supply chains. Biden said at the end of March, “We shouldn’t have to rely on a foreign country to provide for our people. We need to sharpen America’s competitive edge by investing here at home.”

But countries including the US and Germany have also reached out to Taiwan to help remove bottlenecks in production. Along with the pandemic, the new administration believes the semiconductor shortage was exacerbated by the previous president’s actions against China.

“Manufacturing of microelectronics in the US has reached a historic low, and this is a big problem for us,” said Terry Halvorsen, IBM’s general manager for Client and Solutions Development.

Taiwan dominates the outsourcing of semiconductor manufacturing. Its contract manufacturers together accounted for more than 60 per cent of total global revenues in the field in 2020, according to Taipei-based research firm TrendForce. Much of its dominance is due to Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC), the world’s largest foundry. TSMC accounted for 54 per cent of all revenues via outsourcing of semiconductor manufacturing globally last year.

Dan Wang, a technology analyst at research firm Gavekal said, “Looking at market share, TSMC manufactures around 50 per cent of all semiconductors in the world – and I think that still understates how important it is because these are some of the most advanced chips out there.”

At the start of March, TSMC said it plans to invest $100 billion over the next three years to increase capacity. The move came after Intel Corporation’s announcement to spend $20 billion on the expansion of advanced chip-making capacity.

“Ultimately, securing the microelectronics supply chain of the US and its allies is a challenge they need to face now,” Halvorsen of IBM noted. “It’s the only way we can ensure sustainable long-term capability in this critically important area.”

The last big supply shock for the industry was a decade ago after the Fukushima earthquake damaged operations at Renesas Electronics, the number three supplier of auto chips.

By Quang Hai

Filed Under: Uncategorized Semiconductor, smartphones, automobiles, Samsung, Investing, crisis force nes rom, 01.04 forces in action, 01.04 forces in action prezi, nullification crisis force bill, semiconductor vacuum level, semiconductor donor level, low level injection in semiconductor, unrelenting force level 3, 01.04 forces in action lab, obi wan force level, hurricane force levels, post-crisis follow-up action plan

Hanoi public hospital’s executives arrested for price gouging of medical equipment

September 26, 2020 by tuoitrenews.vn

The Ministry of Public Security on Friday arrested and started legal proceedings against Nguyen Quoc Anh, former director of Bach Mai Hospital in Hanoi, and two of his subordinates at the infirmary for “abuse of position and authority” in the alleged price gouging of medical equipment.

The two subordinates are Nguyen Ngoc Hien, former vice director of Bach Mai Hospital, and Trinh Thi Thuan, former chief accountant at the infirmary.

Officers also inspected Anh and Hien’s residence on Friday evening.

While the two men were in office, Bach Mai Hospital purchased a robotic system from BMS Medical Technology Joint Stock Company.

The arrested inflated the purchase price of the system to VND39 billion (US$1.7 million) from its market price of VND7.4 billion ($319,000).

Consequently, patients had to pay VND23 million ($990) per instance of the machine’s use while the rate should have been VND4 million ($172) only.

It is estimated that the arrested appropriated VND10 billion ($430,800) from patients via more than 500 cases of the system’s use from 2017 to 2019.

Previously, the Ministry of Public Security also arrested and began legal proceedings against Pham Duc Tuan, chairman and director of BMS, Ngo Thi Thu Huyen, BMS deputy director, and Tran Le Hoang, an appraiser of VFS JSC — which had been hired by Bach Mai Hospital to appraise the robotic system, for their involvement in the case with the charge of “fraud and appropriation of property.”

Hoang is now under home arrest.

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