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To achieve the goal, Hai requested concerned authorities to focus more on public investment disbursement. The municipal State Treasury must better coordinate with other sectors to promptly address problems in order to accelerate the disbursement progress, he said, adding that it should also effectively promote public administrative reforms and make use of information technology to cut procedures businesses and organisations are required to fulfill. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 22

HCM City (VNA) – Permanent Vice Chairman of the Ho Chi Minh City People’s Committee Le Thanh Liem hosted a reception in the city on November 14 for Joe Lonsdale, a founding partner of San Francisco-based venture capital fund 8VC. Liem said the visit affirms 8VC’s commitments to supporting startups and innovation in Ho Chi Minh City and hoped that 8VC would share its experience with the city in the field. In the near future, Ho Chi Minh City will be developing an innovative urban area and building a smart urban area, he said. The host invited representatives from 8VC to attend the Ho Chi Minh City Economic Forum slated for late November and offer ideas on smart urban development. Lonsdale, for his part, shared some information on a Canadian startup ecological model which, he said, is particularly applicable to Ho Chi Minh City. He affirmed that 8VC wants to be a long-term partner of Vietnam and Ho Chi Minh City. He said 8VC has launched several projects in Ho … [Read more...] about US-based 8VC seeks business opportunities in Ho Chi Minh City

Local residents started to produce canna vermicelli in the 1970s but sold only within the province at that time. Since the 2000s, canna vermicelli has been traded not only in the province but throughout the country and then became a local speciality of Lai Châu. … [Read more...] about Canna vermicelli producers busy as Tết nears

HCM City (VNA) - An e-commerce site for high-quality Vietnamese goods, at hvnclc.chophienonline.vn, debuted in Ho Chi Minh City on January 21. The site forms part of the second phase of the “Go Online” project, carried out under a partnership between the Business Association of High-quality Vietnamese Products and the Digital Transformation Alliance DTS. It is a trade platform for all Vietnamese products earning the “High-quality” title and for producers to promote products and trade. Each business will be provided with a virtual store on the site to share information and images of their goods, said Huynh Quang Hien, Operations Manager at the Centre for Business Studies and Assistance (BSA). He expects the site will be well-received by customers. The first online trade fair of the site will take place from January 23 to February 5, selling products for the Tet (Lunar New Year) holiday. It features high-quality products made by the Bao Minh Confectionary JSC, … [Read more...] about E-commerce site for high-quality Vietnamese goods debuts in HCM City

A rise in both the number and the value of mergers and acquisitions (M&As) in Vietnam last year and early this year have signaled that M&As are booming in the country. According to auditing firm Pricewater House Coopers (PwC)’s statistics, there were 295 M&As worth a combined 1,138 million USD in the country last year, up 77 percent over the previous year. In the first quarter of this year, the market was more ebullient with larger acquisitions: the Vietnam Industrial and Commercial Bank (Vietinbank) sold 10 percent and 15 percent of its statutory capital to the International Finance Corporation (IFC) and Canada ’s Nova Scotia Bank respectively, and VNPT Global sold 10 percent of its shares to the Singapore Technologies Telemedia (ST Telemedia). Notably, the Hung Vuong Fishery Joint Stock Company (HVG) offered to buy 3.75 million shares of the An Giang Fishery Import-Export Joint Stock Company (AGF) in a bid to raise its share in AGF to 51 … [Read more...] about M&A boom building up steam in Vietnam