Việt Nam has become an ideal eco-system for both domestic and foreign start-ups, and the effects are showing, with start-ups mushrooming all over the place. Việt Nam News’s Thu Ngân spoke to fund managers and executives at successful start-ups and asked them about the phenomenon. Peter Ryder, CEO of Indochina Capital Việt Nam’s biggest advantage is its people. The Vietnamese are among the most entrepreneurial and ambitious people I have met, which paired with Việt Nam’s exceedingly young population creates the perfect storm for start-ups to thrive. With that said, Việt Nam’s start-ups suffer from the country’s bureaucratic issues, namely the lack of laws that govern newer forms of business. While not applicable to all start-ups, many struggle to take off because of these issues and it makes seeking investment extremely difficult for these start-ups. It seems that many are quickly sold to big corporations, most … [Read more...] about Việt Nam fosters a start-up ecosystem in the region: executives
Entrepreneurial organizations seek opportunities for innovation
BUSINESS NEWS IN BRIEF 23/2
Danang to promote investment in hi-tech sectors Employees work at an automobile assembly and manufacturing plant in Danang’s Hoa Khanh Industrial Park in this file photo. Danang’s enterprises are being urged to suggest ideas for attracting investment in hi-tech sectors at an upcoming conference, scheduled for March 1 – PHOTO: VGP The central coastal city of Danang has urged local firms to pose ideas at an upcoming conference, scheduled for March 1, for attracting foreign direct investment (FDI) in sectors leveraging hi-tech applications in the 4.0 era, the Government portal chinhphu.vn reported, citing the municipal People’s Committee. The municipal government on February 20 stated that the city will prioritize receiving FDI capital for the field of hi-tech agriculture to achieve sustainable growth, alongside other hi-tech-deploying sectors. It will also prepare feasible projects to attract investors from Japan, South Korea and the United States, according to … [Read more...] about BUSINESS NEWS IN BRIEF 23/2
BUSINESS NEWS IN BRIEF 21/12
Vietnam, New Zealand networking event discusses CPTPP The Vietnam Trade Office partnered with the Wellington Chamber of Commerce and the ASEAN-New Zealand Business Council to run the Vietnam-New Zealand Free Trade Breakfast last week, discussing various trade issues. The event gathered representatives from enterprises in Wellington and Auckland doing business in or have business transactions with Vietnam together with local trade promotion agencies. It provided an opportunity to network and hear directly from key figures in Vietnam and New Zealand to gain a better understanding of the benefits of the two countries’ trade relations, particularly as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is about to enter into force. Speaking at the event, Vietnamese Ambassador to New Zealand Ta Van Thong gave the attendees an overview of Vietnam’s economy, its CPTPP commitments relating to the domestic business environment, and support … [Read more...] about BUSINESS NEWS IN BRIEF 21/12
BUSINESS NEWS IN BRIEF 15/11
Mai Linh launches cooperative to attract idle cars Mai Linh Group on November 15 will officially introduce and start the operation of Hoa Binh Xanh Taxi Cooperative in HCMC, which will call for the participation of owners of idle cars. According to the group’s press release, the cooperative is expected to offer more choices to the group’s customers. Early joiners of Hoa Binh Xanh Cooperative will be exempt from the management fee until December 31. They will also receive a uniform, free training courses and practicing certificates. After that, they will have to pay the management fee of only 13.9% of revenues for the duration of their contracts. Hoa Binh Xanh Cooperative will share Mai Linh’s taxi booking app and use call center 1055. The cooperative’s taxicabs will not be forced to have bright colors or be repainted in green, the traditional color of Mai Linh. However, they will have a lightbox highlighting the word “Taxi,” the Hoa Binh Xanh logo … [Read more...] about BUSINESS NEWS IN BRIEF 15/11
WEF ASEAN 2018: The most successful regional meeting of WEF
The World Economic Forum on ASEAN (WEF ASEAN) 2018 themed: “ASEAN 4.0: Entrepreneurship and the Fourth Industrial Revolution” held in Hanoi is the most successful regional meeting of the WEF, stated WEF Founder and Executive Chairman Prof. Klaus Schwab. The event saw the presence of General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong at its opening session. Cabinet members, including the Prime Minister, deputy prime ministers and seven ministers actively joined the WEF’s seminars to discuss and share experiences with other countries. The event with 60 sessions was attended by leaders of ASEAN member countries and partner countries, and representatives of 1,000 multinational groups and 800 domestic businesses.Prime Minister Nguyen Xuan Phuc and WEF Founder and Executive Chairman Klaus Schwab co-chaired WEF ASEAN 2018 which took place in Hanoi on September 11-13. The forum focused on discussing and proposing initiatives, … [Read more...] about WEF ASEAN 2018: The most successful regional meeting of WEF