The Hanoitimes - The digital economy is creating opportunities for Vietnamese firms, which apply technology in their operations, to attract big inflows from venture investments funds, experts said. After receiving foreign investments, Yeah1 Group successfully listed on the bourse According to investment fund VinaCapital, the inflows are growing rapidly at a ‘dizzying’ rate and the trend is forecast to continue at least in the next few years. Sean Maher, a founding member of economic strategy and analysis firm Entext Economist, said that investment funds last year poured about US$290 million into Vietnamese firms that apply digital tech. He forecast the value will reach US$2-3 billion over the next 2-3 years. VinaCapital was among investment funds pouring significantly in Vietnamese digital firms. It has launched the DFJ VinaCapital to invest in digital media firms Yeah1 Group, Chicilon Media, and Vietnam Online Network. One of DFJ VinaCapital’s successful … [Read more...] about Vietnam’s digital firms capture big foreign investments
Foreign investment
Yen Bai works hard to attract more foreign investment
Yen Bai organised an investment promotion conference in Seoul, the Republic of Korea, in early 2017 (Source: VNA) Yen Bai (VNA) – Foreign direct investment (FDI) has helped boost socio-economic development in the northern mountainous province of Yen Bai, contributing to shifting the economic structure, creating more jobs and improving locals’ living conditions. To attract more FDI, the mountainous province has continuously promoted its strengths in natural resources and preferential policies to enterprises, especially those with foreign investment. The Foreign Investment Law was issued in 1987, but Yen Bai did not see any project coming until nine years later. The first FDI project was on limestone exploration, exploitation and processing at Mong Duong mine in Yen Binh district with a registered capital of 7.6 million USD. At that time, Yen Bai was not attractive to foreign investors as the building of preferential policies remained limited. FDI flow into the province … [Read more...] about Yen Bai works hard to attract more foreign investment
Vietnam cuts red tape to attract foreign investment in education
The Hanoitimes - Vietnamese people spend around US$3 billion on overseas education annually. Vietnam has amended two decrees on foreign cooperation and investment in education in a move to develop the sector which gets roughly 5% of the country’s gross domestic product (GDP) annually. Illustrative photo. The Ministry of Education and Training has so far cut 24 and simplified four out of 212 conditions on doing business in education, the government portal reported. Accordingly, state agencies have removed requirements on granting business liciences, setting up foreign-invested education establishments, and representative offices of foreign education establishments in Vietnam. According to Deputy Minister of Education and Training Nguyen Thi Nghia, so far this year the ministry has cut 57.1% of total regulations on business conditions in the education sector. Simplifying investment procedures is part of efforts to attract foreign capital flows into the education … [Read more...] about Vietnam cuts red tape to attract foreign investment in education
Decree 86 expected to fuel foreign investment in education
The Government’s Decree 86/CP, which took effect on August 1, is expected to stimulate investment in education with a new regulation allowing foreign-funded schools to enroll more Vietnamese students. Pupils at the British International School Hanoi (Photo: nordangliaeducation.com) The decree raised the ceiling for the rate of Vietnamese students at kindergartens, primary, secondary and high schools to 50 percent from the previous quotas of 10 percent for the primary level and 20 percent for secondary and high schools. Troy Griffiths, Deputy Managing Director at real estate company Savills Vietnam, said with a young population of over 94 million, Vietnam has advantages to develop the education sector. He said Ho Chi Minh City is among 27 cities worldwide which house more than 50 international schools, adding that it reflects the big appeal of the local education market. The limit on Vietnamese student enrollment was once a barrier to overseas capital flow into the … [Read more...] about Decree 86 expected to fuel foreign investment in education
PM urges more high-tech foreign investment, promises better incentives
Prime Minister Nguyen Xuan Phuc speaks at the conference PM Phuc was addressing an October 4 conference entitled, “30 Years of FDI Mobilization in Vietnam: New Vision and Opportunities in New Era” held by the Ministry of Planning and Investment. Employment for millions Minister of Planning and Investment Nguyen Chi Dung said in the three decades since the Law on Foreign Investment took effect, the FDI sector has increasingly proven its pivotal role in the national economy. As of the end of August 2018, Vietnam had attracted 26,500 valid FDI projects with total registered capital of US$334 billion. Of the sum, roughly US$184 billion have been disbursed. FDI has contributed important capital to total social investment. The share of FDI in total social investment capital increased to 23.7 percent in 2017, while its contribution to the country’s GDP surged to 19.6 percent in 2017. In addition, state budget revenues from the FDI sector have recorded remarkable growth, … [Read more...] about PM urges more high-tech foreign investment, promises better incentives