RoK technology ventures seek opportunities in Vietnam An event connecting technology ventures of Vietnam and the Republic of Korea (RoK) was held in Ho Chi Minh City on August 22 to strengthen cooperation and trade activities between businesses of the two countries. It was organised by Vuccess Co., Ltd of the RoK, with support from the State Agency for Technology Innovation of the Ministry of Science and Technology, the Vietnam Trade Promotion Agency (Vietrade) of the Ministry of Industry and Trade, along with the Korea Institute of Science and Technology and Korea Techno-Ventures Foundation. At the event, Vietnamese firms were updated on latest technology and cooperation opportunities through 11 leading businesses of the RoK in various fields, including information technology, communications, power-electronics, garment-textile, chemistry, construction, energy and environment. Bui Hoang Yen from the Vietrade said that since Vietnam and the RoK established diplomatic relations in … [Read more...] about BUSSINESS NEWS IN BRIEF 25/8
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Industrial revolutions are momentous events. By most reckonings, there have been only three. The first was triggered in the 1700s by the commercial steam engine and the mechanical loom. The harnessing of electricity and mass production sparked the second, around the start of the 20th century. The computer set the third in motion after World War II. It may seem too soon to proclaim that the fourth industrial revolution, spurred by interconnected digital technology, is upon us, but Mr. Henning Kagermann, Head of the German National Academy of Science and Engineering, did exactly that in 2011, when he used the term Industry 4.0 to describe a proposed government-sponsored industrial initiative. After missing the first three, Vietnam is now hoping to tap into the fourth revolution, though this requires action and not just words. Boundless prospects It’s not by chance that Industry 4.0 is mentioned often in State documents and speeches by government officials. The topic even … [Read more...] about VN tries to harness the change brought about by Industry 4.0.
Noticeable in the VNG Corporation’s latest financial statement was that it recorded a loss from its investment in the Ti Ki JSC (Tiki) of about $4.3 million in the last quarter of 2016. Based on figures in the VNG report, Tiki’s losses in February and March last year totaled $916,000, which climbed to $2.54 million in the second quarter and $3.4 million in the third quarter. VNG’s total losses in the Tiki investment stood at nearly $11.2 million in the eleven-month period. Founded in March 2010 by Mr. Tran Ngoc Thai Son, Tiki was one of Vietnam’s first e-commerce companies. It was initially created as an online bookstore, before becoming an e-commerce website with a fairly effective business performance that saw it attract investment from major funds. It gradually diversified into different types of technology, cosmetics, and household commodities and reported growth of 130 to 190 per cent over the last seven years compared to average growth of between 20 … [Read more...] about Uncertain times