The Philippines has announced that it will put the ride-sharing service provider Grab into the anti-competition watchlist after its acquisition of rival Uber’s Southeast Asia business (Photo: Channel NewsAsia) Hanoi (VNA) – The Philippines has announced that it will put the ride-sharing service provider Grab into the anti-competition watchlist after its acquisition of rival Uber’s Southeast Asia business. In a statement, the Philippine Competition Commission (PCC) said it will closely monitor the deal as the Grab-Uber acquisition is likely to have a far reaching impact on the public transport and transportation services. anti-competition watchlist while Singapore announced earlier that it is investigating the Grab-Uber deal. Grab ’s existing platform. Philippines , Thailand and Vietnam. VNA … [Read more...] about Philippines investigates Grab-Uber deal
Grab uber southeast asia
SIHUB – EXPARA Accelerator batch 4 – 2022 started
The startup accelerator program, SIHUB - EXPARA Accelerator batch 4 - 2022, has officially been launched. (Photo: SGGP) At this event, SIHUB and EXPARA officially introduced the sixth investment fund, Expara Southeast Asia Ventures, with a scale of up to US$450 million. Of which, one-third of the fund is for the Vietnamese market. When attending SIHUB - EXPARA Accelerator batch 4 - 2022, startups will have the opportunity to expand their network of partners, seek investors, learn from the experience sharing of CEOs, advisors, and guests, and have a chance to receive funding of up to $150,000. Investment enterprises that receive data from startups with growth potential can consider investing in and expanding that model. In addition, large enterprises can look for profitable investment opportunities through Expara Southeast Asia Ventures. Expara Southeast Asia Ventures is an early-stage (seed stage) venture capital fund that primarily invests in next-generation technology … [Read more...] about SIHUB – EXPARA Accelerator batch 4 – 2022 started
Stock market to benefit from unexpectedly strong domestic growth: VinaCapital
Viet Nam has the cheapest valuations and second highest EPS growth in Southeast Asia, as this table shows. — Source VinaCapital “Viet Nam’s economy is even stronger than we had expected at the beginning of the year, but that strength is not reflected by higher stock prices due to the [US’s] aggressive rate hikes and the recent regulatory crackdown in Viet Nam,” Michael Kokalari, chief economist at VinaCapital, has said in a report. “That said, we expect over 20 per cent [company earnings] growth in 2022, which should support a recovery in the VN-Index by the end of 2022.” July economic statistics have not only reinforced VinaCapital’s forecast of 7.5 per cent GDP growth in 2022 but also make it look like the economy would grow by a stunning 10 per cent year-on-year in the current quarter, he said. “Our expectation that Viet Nam’s economy will grow by at least 7.5 per cent this year (and by at least 10 per cent in Q3) leads us to believe that the consensus forecast for 16 per … [Read more...] about Stock market to benefit from unexpectedly strong domestic growth: VinaCapital
Thailand’s Kasikornbank opens first branch in HCM City
The bank has served Vietnamese customers via its two representative offices in Hanoi and HCM City since 2015. Speaking at the opening ceremony held on August 5, Thai Ambassador to Vietnam Nikorndej Balankura said that Thailand is currently the 9th largest foreign investor in Vietnam and also the largest trading partner of the country in the Association of Southeast Asian Nations (ASEAN) region. The opening of a branch by KBank in HCM City is an important milestone reflecting the bank’s strategic vision in strengthening economic ties between Thailand and Vietnam, he said. Nguyen Van Dung, Deputy Director of the State Bank of Vietnam, HCM City branch said putting into operation of KBank branch in the city will raise the number of foreign bank branches in the city to 32, contributing to diversifying the activities of the credit institutions in the locality. Sharing about the potential of the Vietnamese market, Kattiya Indaravijaya, CEO of KBank said that Vietnam is a rising star … [Read more...] about Thailand’s Kasikornbank opens first branch in HCM City
EVFTA underpinning growth in Vietnamese tech market
As Vietnam steps into the post-pandemic era, experiences and learnings from the pandemic serve as a reminder of the importance of digital transformation and its crucial technology component. Eunjung Han, consultant at Rouse Legal Vietnam and vice chair of the Digital Sector Committee of the European Chamber of Commerce in Vietnam Despite COVID-19’s negative economic and social impact, Vietnam remains an attractive destination to European investors. According to the European Chamber of Commerce (EuroCham) 2021 White Book, Vietnam’s stable macro-economic climate, with inflation in the single digits, continues to increase investor confidence in the country’s trade and investment environment. Only adding to that, the EU-Vietnam Free Trade Agreement (EVFTA) is paving the way for continued foreign direct investment (FDI) from the EU and is viewed as a means for shared recovery and economic rebound. As the first comprehensive FTA between the EU and a developing country in … [Read more...] about EVFTA underpinning growth in Vietnamese tech market
[Net-zero strategy] Which way is possible for Vietnam’s net zero journey?
Seizing the opportunity laid out by its clean energy resources and phasing out coal could be key for Vietnam’s green growth path. Vietnam’s Prime Minister Pham Minh Chinh has set a deadline for sectors to build plans for their sustainable development within the first quarter (Q1) of this year as part of efforts to materialize the country’s sustainable development. Vietnam’s Prime Minister Pham Minh Chinh speaks at COP26 in Glasgow, the UK in November 2021. Photo: VNA The PM demanded in Q2 a comprehensive program to implement Vietnam’s net-zero target that he pledged at the 2021 United Nations Climate Change Conference in Glasgow (COP26) in November 2021. Accordingly, authorized agencies are tasked with eight issues, namely energy transition, reducing greenhouse gas emissions; lowering methane emissions; developing electric cars; planting forests to absorb carbon dioxide; building construction materials and urban development suitable for green and sustainable … [Read more...] about [Net-zero strategy] Which way is possible for Vietnam’s net zero journey?
