Vietnam is among the top 10 markets with the largest e-learning growth in the world. With an estimated value of US$2 billion and an enormous growth potential, Vietnam's online education market (e-learning) is attracting a big investment capital from foreign funds. Everest Education was the latest Vietnamese education start-up to successfully raise US$4 million in a Series B round led by Hong Kong private-equity fund Hendale Capital late last month. The round also saw the participation of venture capital fund Viet Capital and Singapore’s Nullabor. Early last month Singapore- and India-based education fund manager Kaizen Private Equity (Kaizen PE) also decided to invest US$10 million in YOLA, a Vietnamese ELT (English Language Teaching) service provider backed by local PE firm Mekong Capital. Earlier, Vietnam edtech company KYNA also raised second funding from SEAF Women’s Opportunity Fund (SWOF), CyberAgent Capital and other investors. Previously, KYNA received the first … [Read more...] about Foreign investors flock to Vietnam’s exponential growth e-learning market
Global growth fund
Source: e-Conomy SEA report 2019 With the gross merchandise value (GMV) of internet economy set to account for over 5% of the country’s GDP in 2019,10 Vietnam is emerging as the most digital of all economies in ASEAN, according to a research report by Google, Temasek and Bain. According to the report, Vietnam’s Internet economy is booming, as it reaches for US$12 billion in 2019 on a 38% annualized growth rate since 2015, and projected to increase to US$43 billion by 2025. Overall, the Southeast Asian Internet economy has leapt nearly 40% from last year to exceed $100 billion in GMV in 2019 across the online travel, e-Commerce, online media and ride hailing sectors. The region is on track to hit US$300 billion in 2025, US$60 billion more than previously estimated. With all sectors taken into account, the GMV of the Internet economy amounted to 3.7% of Southeast Asia’s gross domestic product (GDP) in 2019, up from 1.3% in 2015. It is projected to exceed … [Read more...] about Vietnam emerged as most digital of all ASEAN economies: Google & Temasek
Hanoi (VNS/VNA) - Vietnam is expected to attract more investors as its economy is developing at a stable rate, with GDP growth of 7 percent. The country’s competitiveness has increased by 10 places in the 2019 Global Competitiveness Index , which was announced this week. The information was released by VinaCapital Co-Founder and CEO Don Lam at the two-day 2019 VinaCapital Investor Conference held in Hanoi earlier this week. He said after four consecutive years of holding its investor conference in Ho Chi Minh City, this year Vinacapital chose Hanoi because the capital city was becoming a leading destination for foreign direct investment in Vietnam. “Most investors come from the Republic of Korea and Japan, showing that the wave of Asian capital flow is interested in the Vietnamese market,” Lam said. VinaCapital, a leading investment management firm, plans to launch the VinaCapital100 ETF (exchange-traded fund) by the end of this year, with initial … [Read more...] about Vietnam’s outlook positive for investment attraction
All banks in the country have to adopt the standard version of Basel II and then switch to the advanced version by 2025. — Photo baokiemtoannhanuoc.vn In 2016 the State Bank set a deadline of January 1, 2020, for 17 banks to meet Basel II norms under a national banking sector development strategy. Also, by 2025 all banks in the country have to adopt the standard version of Basel II and then switch to the advanced version. Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. It comprises minimum capital requirements, supervisory review and market discipline to enhance competition and transparency in the banking system and make banks more resistant to market changes. Basel II requires banks to have a capital adequacy ratio (CAR) of at least 8 per cent. However, the SBV has allowed 10 banks to adopt Basel II standards earlier than the 2020 deadline. They are Joint Stock … [Read more...] about Basel II deadline rapidly approaching, are banks on course to meet norms?
Tran Minh Triet, deputy rector of HCM City’s University of Science (Source: VNA) HCM City (VNS/VNA) - Human - centered artificial intelligence (AI) is an approach that aims not to replace people but to enhance human life,Tran Minh Triet, deputy rector of HCM City’s University of Science, said at a recent conference in HCM City. The AI field is expected to see major breakthroughs in the next 10 years, he said, adding that the Government aims to make AI a top priority in its growth policies. Among the most important tasks are improving training quality in higher education, building Industry 4.0-tech training institutes, and encouraging technological application, business reform, and investment in science-technology research. “I think that Vietnam has people capable of participating in research, development and AI application for human life,” Triet said. "However, we have … [Read more...] about Human-centered AI has great potential in Vietnam