Tiki’s consecutive losses raise the question whether these are still planned losses or are a result of losing the e-commerce race to competition. Tiki claims the losses are part of its development strategy, an explanation that is growing strained Tiki was established in 2010 as a startup e-bookstore but has since diversified operations to sell phones, tablets, digital devices, electrical appliances, toys, and souvenirs. In August 2013, Tiki signed a strategic partnership with Japan’s Sumitomo Corporation and became the first e-commerce company in Vietnam to receive investment from the Japanese company. Under the partnership, Sumitomo would hold a 30 per cent stake in Tiki to become its second strategic investor, after Japanese investment fund CyberAgent Ventures (15 per cent). In May 2016, VNG Corporation, Vietnam's top provider of Internet content, completed a VND383-billion ($17.02 million) deal to acquire a 38 per cent stake in Tiki. Accordingly, VNG spent … [Read more...] about Tiki reports second year of losses
Investment year method
PPP infrastructure investment should be promoted: official
Encouraging investment in infrastructure in the form of public-private-partnership (PPP) is necessary to tap into domestic and foreign capital sources and technology, said Deputy Minister of Planning and Investment Vu Dai Thang. Thang cited an estimate by the Asian Development Bank (ADB) that Vietnam needs about US$16-17 billion for infrastructure investment between 2015 and 2025. The figure was forecast to be US$17.2 billion by the Hong Kong – Shanghai Banking Corporation (HSBC). However, the State budget for public investment is limited, hence the need to mobilise investment from other economic sectors, Thang said. He noted that the Ministry of Planning and Investment had made several efforts to promote PPP investment in the forms of some Decrees, such as the government’s Decree No.15/2015/ND-CP dated February 14, 2015 on PPP investment and Decree No.30/2015/ND-CP dated March 17, 2015 stipulating the execution of some articles in the Law on Bidding about the selection … [Read more...] about PPP infrastructure investment should be promoted: official
Textile-garment exports seen at $35b this year
Viet Nam News The textile and garment industry earned US$31 billion from exports last year, a year-on-year increase of over 10 per cent. The Việt Nam Textile and Apparel Association believes exports will top $34-35 billion this year helped by many positive factors. Vũ Đức Giang, the association’s chairman, talks to Việt Nam News ’s reporter Xuân Hương about this and the efforts made by the industry to enhance their competitiveness and add value to their products. What do you think about the textile industry’s export prospects this year? The textile and garment industry earned nearly $8 billion from exports in the first quarter of the year, an increase of 13.5 per cent over the same period last year. This is the highest growth rate in the first quarter in the last four years. The exports in the second quarter are expected to be $8.5 billion and we forecast exports in the first half to go up by 14 per cent over the … [Read more...] about Textile-garment exports seen at $35b this year
Alternative investment opportunities in Việt Nam
Viet Nam News by Brian Spence This week, we take a look beyond shares and bonds at some of the more unusual and potentially lucrative alternative investment opportunities. “Alternative” investments is a catch-all term for anything that is not shares, bonds, mainstream property or cash. Beyond these traditional asset classes, Vietnamese investors can invest in everything from stamps and fine wine. Of course, the fact that alternative investment opportunities exist does not mean these investments are safe or advisable. Before you even consider an alternative investment opportunity, you need to understand the risks. When you’ve understood some of the dangers, take a look at some of the alternative investment ideas below. All of them are available to Vietnamese investors, although not all are Việt Nam-based. We’ve put them roughly in order of risk, starting with the “safest” and ending with those you should definitely steer clear of. This is … [Read more...] about Alternative investment opportunities in Việt Nam
Vietnam plays active role in GMS trade, investment cooperation
Hanoi (VNA) – Vietnam has proactively participated in trade and investment cooperation activities in the Greater Mekong Subregion (GMS), which comprises Cambodia, China’s Yunnan and Guangxi provinces, Laos, Myanmar, Thailand and Vietnam, over the past 25 years. Vietnamese Prime Minister Nguyen Xuan Phuc (C) and heads of delegation of the GMS countries (Photo: VNA) The successful hosting of the 6th GMS Summit (GMS-6) and the 10th Cambodia-Laos-Vietnam (CLV) Summit on Development Triangle Area (CLV-10) in Hanoi from March 29-31, 2018 demonstrated Vietnam’s contributions to regional economic cooperation mechanisms. Key achievements A unique characteristic of GMS cooperation is that member countries share land borders, which is convenient for land transport connectivity and economic corridor development. Vietnam holds key nodes in three GMS economic corridors: the Southern Coastal Corridor (GMS-SCC) which links Thailand to southern Vietnam via Cambodia; … [Read more...] about Vietnam plays active role in GMS trade, investment cooperation