Hefty investments Among 70 countries and territories in which Vietnamese have investments, Laos, Cambodia and Myanmar are the three biggest target markets. Laos is the biggest FDI recipient from Vietnam, having accepted $5 billion worth of registered investments. In January 2017, Viettel received an investment license for setting up a telecom network in Myanmar – Mytel. BIDV in 2016 got a license to set up a branch in Myanmar – BIDV Yangon with charter capital of $85 million. The dairy factory Vinamilk built in Cambodia became operational in 2016, while the Vietnam Rubber Group began processing rubber latex in 2015. Hoang Anh Gia Lai Group is one of the biggest outward investors. In addition to a series of projects on agriculture production in Laos, in 2015 built the Attapeu international airport worth $36 million and HAGL Center worth $550 million in Myanmar. In 2016, it kicked off the second phase of HAGL Center and joined forces with Melia Hotel to run a … [Read more...] about How are Vietnamese businesses performing in Laos, Cambodia, Myanmar?
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It is estimated that around $1 trillion of annual personal consumption expenditure across Southeast Asia is still made using cash or cheques. However, a young population with rising disposable income, a relatively high level of internet penetration, and more than 300 million smartphone users, presents an opportunity to rapidly transition these economies towards digital payments. Speaking at the Vietnam Fintech Forum 2019, Adeline Kim, Visa’s head of products and solutions in Southeast Asia, said, “Everywhere we look, technology is changing the most minute elements of our day-to-day lives, helping us to get transport more efficiently, have groceries delivered straight to our homes, and connect and speak with loved ones on the other side of the world. “With the growth of the fintech industry, we’re seeing an incredible variety of businesses emerging that are working on innovative ways to make a world of commerce more accessible to people everywhere. We see this as … [Read more...] about Fintech could hold key to reducing cash reliance in Vietnam
By Minh Thu A wave pattern hand-embroidered on a royal costume in colourful blue and gold threads. Photo courtesy of Ỷ Vân Hiên Traditional costumes made with sophisticated sewing, embroidering and decorating techniques are more in the public eye than ever as they are featured in more films and television shows. A TV series directed by Huỳnh Tuấn Anh recently made a stir as the most expensive and impressive project focusing on Vietnamese feudalism and royal families. Actress Diễm My shows off one of the costumes worn by her character, Queen Lệ Thiên Anh, in Phượng Khấu. Photo courtesy of Ỷ Vân Hiên One of the highlights of the exhibition was the nhật bình dress of Princess Mỹ Lương, sister of King Thành Thái (1879-1954). Photo vov.vn Though the 18-episode series Phượng Khấu (The … [Read more...] about Experts revive traditional costumes on the screen
Two Eximbank employees are covered under umbrellas as they are escorted by police out of their office in Ho Chi Minh City as part of an investigation into a US$10.8 million fraud. Photo by VnExpress Officers from the Ministry of Public Security led Ho Thi Thuy and Nguyen Thi Thi away from the office of Eximbank in District 1 in handcuffs during the afternoon. Thuy and Thi are suspected of being involved in a million-dollar fraud committed by Le Nguyen Hung, former deputy director of the bank’s HCMC office, who has fled overseas. Police have not released an official statement. The ministry issued an international warrant for Hung a month ago after an investigation found he had forged documents to steal the money from a customer, who discovered the losses late last year. Chu Thi Binh, a seafood businesswoman, had been making major deposits at the bank since 2007. Her huge savings granted her VIP status, which meant she did not have to visit the bank every time she … [Read more...] about Vietnamese bankers nabbed in US$10.8 million fraud case
Tens of thousands of people in Phnom Penh flank a road to see off Vietnamese volunteer soldiers in June 1984 (Photo: VNA) Hanoi (VNA) - We could not turn away when the Khmer nation was facing the disaster of extinction and calling for help. We joined the Kampuchean United Front for National Salvation in toppling the genocidal Pol Pot – Yeng Sary gang, one of the most brutal regimes in the history of the mankind. The victory 40 years ago on January 7, 1979, did not only revive Cambodia but also serve as a bright model of the international solidarity. “Cambodian people believe that only the Buddha could save the people when they fall into extreme difficulty. It was when the Cambodian people were on the brink of death and all what they could do was to pray for the Buddha to come and save them that Vietnamese volunteer troops came to their help. Vietnamese volunteer troops are Buddha’s army,” said Prime Minister Hun Sen when he came to Dong Nai province on January … [Read more...] about Victory over Pol Pot regime: They died for Cambodia to revive