After reaching a consensus with the People’s Committee of Tay Ninh Province, the HCM City People’s Committee has petitioned the PM and Ministry of Transport for permission to call for investment for the HCM City-Moc Bai Expressway project. The HCM City – Moc Bai Expressway is expected to improve economic development in Tay Ninh Province. — Photo tphcm.chinhphu.vn The expressway, which will be nearly 53.5 kilometres long, will link Ring Road No 3 in HCM City’s Hoc Mon District with Moc Bai, an international border gate between Vietnam and Cambodia in the southeastern province of Tay Ninh. The expressway project will be divided into two investment phases under Public-Private Partnership and Build-Operate-Transfer models, according to a statement from the HCM City People’s Committee issued earlier this week. In the first phase, the entire expressway will be built with four lanes. The total capital for the phase is expected to be nearly … [Read more...] about HCM City seeks investment for HCM City-Moc Bai Expressway project
Jeff bezos 970 million investment
Ha Noi attracts highest FDI in 11 months
Production at the Hoya Glass Disk Vietnam Company in Thang Long Industrial Park, Ha Noi. The capital city attracted $7 billion in FDI in the first 11 months this year. — Photo kinhtedothi.vn Ha Noi attracted the most foreign direct investment (FDI) in Viet Nam during the first 11 months of this year with US$7 billion, accounting for nearly a quarter of the total, according to the Ha Noi Department of Planning and Investment. This figure was higher than the $6.3 billion registered in the same period last year. Total registered investment capital for new projects and additions to existing projects reached about $2.1 billion, including $1.6 million for 788 new projects and $580 million for 160 existing projects. During the 11 months, foreign investors poured $5.3 billion into Ha Noi through capital contributions and share purchases. Foreign investors have chosen Ha Noi thanks to its good infrastructure, completed industrial zones and convenient transportation. The capital is one of … [Read more...] about Ha Noi attracts highest FDI in 11 months
Start-ups must ‘go global’, says Grab’s Vietnam chief
Nguyen Tuan Anh, CEO of Grab Financial Group Vietnam, talks about strategies to help start-ups expand their markets at a recent event in HCM City (Source: VNA) HCM City (VNS/VNA) - Overcoming human resources problems, understanding local cultures and finding reliable partners are needed for Vietnamese start-ups to “go global,” the CEO of Grab Financial Group Vietnam Nguyen Tuan Anh has said. Speaking at a recent boot camp, a start-up training programme organised by VnExpress.net, Anh said reaching out to the world was not optional but imperative for a start-up to succeed. “You may not go global right away, but you must have a vision to do it in the next five to 10 years. “Vietnamese start-ups must conquer the global playground to increase the value, revenue and profit.” Anh was one of the first employees of the giant ride-hailing service when it entered the Vietnamese market in 2014 on the heels of its success in four other Southeast Asian countries, … [Read more...] about Start-ups must ‘go global’, says Grab’s Vietnam chief
Vietnam fintech sector in the fast lane
Out of the 154 fintech startups, 37 operate in payments, 25 in P2P lending and 22 in blockchain and crypto and remittance, according to a survey by the Banking Technology Development Research Institute (BTI), National University of Ho Chi Minh City, released at a fintech conference in HCMC on Monday. The rapid growth of fintech has transformed the financial and banking sector by offering consumers more convenient products and services. Fintech companies in Vietnam are likely to continue encroaching on the retail market share of traditional banks, with peer-to-peer lending, e-wallets, payment and cashless payments becoming an integral part of everyday life, the report noted. However, areas such as asset management, liquidity management, investment management, insurance, and automated advisory services are still in their infancy, it added. Hoang Cong Gia Khanh, director of BTI, said: "Because 70 percent of Vietnam’s fintech companies are still startups, it will be difficult to … [Read more...] about Vietnam fintech sector in the fast lane
Japanese zipper-maker YKK to open second Vietnam plant
Japanese zipper-maker YKK will begin operations at its second plant in Vietnam in October, reported the Japan Times. YKK R&D Center. Photo: YKK The company plans to increase its production capacity by 40 per cent in the fiscal year through March 2021 compared with fiscal year 2017. YKK Vietnam Co., YKK’s local subsidiary, built the plant at the Dong Van III Industrial Zone in the northern province of Ha Nam, some 40 km south of Hanoi, with total investment of $59.9 million. Adding to its existing plant in the southern province of Dong Nai, the new 51,000 sq m site will shorten delivery times to garment makers in Vietnam’s north. It is also expected to respond to garment production shifting from China to Vietnam. The parent group opened an R&D Center at YKK Vietnam last year, which brought its number of development sites to 36 (eight of which are R&D centers) and its number of R&D personnel to 945 as at the end of 2018. Aside from zippers, YKK also … [Read more...] about Japanese zipper-maker YKK to open second Vietnam plant