Small business investing

The event will draw participants from 17 Korean industrial manufacturers and suppliers. — YONHAP/VNA Photo A trade promotion event connecting South Korea’s fundamental industrial manufacturing enterprises (PPURI Industry) and Vietnamese importers will be held online during July 4-8 by the Korea Trade and Investment Promotion Agency (KOTRA). The event will draw 17 Korean manufacturers and suppliers focusing on machine tools and accessories, industrial robots, industrial cleaning machines, building materials, chemistry, automotive parts and industrial supplies for railway and shipping industries. These are high-quality products that have been widely used in Korea and exported to many countries around the world. Nearly 60 online meetings have been arranged and confirmed by KOTRA for the trade week. This event is expected to open up new cooperation opportunities for Vietnamese and Korean businesses in the field of industrial production. — VNS … [Read more...] about Vietnam-Korea Industrial Business Trade Week slated for early July

Many Vietnamese airlines have proposed that the ceiling prices of domestic air tickets be further increased or removed as they have suffered heavy losses due to wildly soaring fuel costs. Even though air tickets have been rising, even higher than before the COVID-19 pandemic, carriers argued that they have to make up for relentlessly rising fuel expenses. Round-trip airfares of economy class for the Hanoi - Ho Chi Minh City route are fluctuating around VND3-5 million (US$129-214) per ticket and those for business class are VND8-17 million ($343-729), an increase of 20-50 percent compared to periods with passenger shortages due to the COVID-19 pandemic. Airfares to famous tourist destinations, such as Da Nang and Phu Quoc, have even changed hourly, and customers can hardly find cheap tickets even though for early morning or late-night flights. Many customers commented that many airlines might have taken unfair advantage of higher fuel prices, triggered by rising world oil … [Read more...] about Vietnamese airlines want domestic airfare caps raised, even removed, amid fuel cost hikes

Ascend Vietnam Ventures has exceeded its US$50 million target for its flagship early-stage venture capital fund, AVV Alpha. Ascend Vietnam Ventures (AVV), the fund led by Binh Tran and Eddie Thai, is seeking the next wave of globally iconic startups emerging from Vietnam. Eddie Thai is speaking at a growth event for founders. Photos: AVV The team has increased its investments in startups in Vietnam, seeding up to US$2 million into 25 startups next year and following on with checks of up to $5 million. With the new fund, AVV has been exploring a broad range of tech opportunities including those in financial inclusion, education, and future of work. AVV Alpha is backed by a mix of investors from Asia, Europe, and the US, including development finance institutions, funds, corporate VCs, and high-net-worth individuals from leading local and regional companies. It has picked ten startups in the past nine months, including Kilo (SaaS & wholesale … [Read more...] about Ascend Vietnam Ventures seeks building global startups in Vietnam

Talking to Prudential Chairwoman Shriti Vadera, the N.A. leader congratulated the firm on its successes in the world as well as in Vietnam, expressing his hope that it will continue operating successfully in the country and fulfill its social responsibility. He affirmed that the Vietnamese Government and N.A. are ready to consider and deal with the problems facing businesses, including those from the U.K., when operating in Vietnam. Vadera said Prudential is delighted to be part of the country’s development, and it can help with this process by issuing long-term bonds. The insurer pledges to cooperate with the Vietnamese Government in green investment, insurance technology, and development of Ho Chi Minh City into an international financial center, she noted, affirming that it will concurrently develop its business and fulfill social responsibility. At the meeting with Chairman of Standard Chartered Jose Vinals, Hue thanked the enterprise for helping the Vietnamese Ministry of … [Read more...] about N.A. Chairman receives leaders of British enterprises in London

The 26th ASEAN-RoK dialogue was held in Seoul on July 1. (Photo: VNA) Seoul (VNA) – The Republic of Korea (RoK) affirmed the importance it attaches to relations with the Association of Southeast Asian Nations (ASEAN) during the 26th ASEAN-RoK dialogue in Seoul on July 1. The RoK’s Deputy Minister of Foreign Affairs Yeo Seung-bae and Ambassador Vu Ho , acting Head of ASEAN SOM Vietnam, co-chaired the event, the first in-person dialogue between ASEAN and a partner after a two-year hiatus due to the COVID-19 pandemic. The two sides reviewed their relationship, outlined cooperation orientations and compared notes on regional and international issues. The RoK said it backs ASEAN’s centrality and pledged to coordinate with the bloc in implementing the ASEAN Outlook on the Indo-Pacific through practical cooperation programmes and activities. The country spoke highly of ASEAN’s contributions to peace, cooperation and prosperity in the region over the past years, saying … [Read more...] about RoK attaches importance to relations with ASEAN