Grab purchased 3.523 per cent of e-wallet startup Moca’s shares A rising trend among giants Over the past time, the local market has seen giants like Vingroup, Singapore-based Grab, and Sea Group joining hands and acquiring local startups. Grab purchased 3.523 per cent of e-wallet application Moca’s shares from Access Venture Capital for hundreds of thousands of US dollars. Besides, Shopee’s parent company – Sea Group – also spent $64 million to acquire 82 per cent of the shares of Foody Corporation – the owner of food delivery firm Now. The firm also purchased the local delivery firm Giaohangtietkiem at an undisclosed price. In addition, Malaysia-based real estate company Property Guru acquired its online real estate searching website batdongsan.vn after years of investment. Evidently, local conglomerate Vingroup could not miss the trend. Several months ago, its subsidiary VinID JSC completed procedures to buy up the e-wallet platform MonPay. … [Read more...] about Startup M&A deals booming to raise big firms’ position
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HCM CITY — The open-ended mutual fund market has developed rapidly in recent years, with quarterly growth averaging 17.6 per cent since 2016, a workshop on investors and open-ended funds heard in HCM City on Wednesday. Open-ended funds are ideal for investors who do not have knowledge or expertise in securities and can instead benefit from the experience and expertise of fund managers. Bùi Ngọc Luân of VinaCapital Fund Management JCS said globally open-ended funds account for more than 60 per cent of total securities trading. Thái Thị Hồng, a training expert at VCFM, said 26 such mutual funds have been issued in the country since 2013. “In the last four years, the assets under management by open-ended mutual funds have grown by 70 per cent a year,” she added. It is likely to grow even faster rate in the coming years, she said. The overall market is currently worth VNĐ17.5 trillion (US$754.2 million) while a single fund … [Read more...] about Workshop on open-ended mutual funds seeks to educate young investors
PM Nguyen Xuan Phuc attended the VEF 2019 The Vietnam Economic Forum (VEF), organised by the Central Economic Commission and some co-organised units such as Aus4Reform, opened on January 16-17, 2019 under the witness of Prime Minister Nguyen Xuan Phuc and over 250 delegates from government agencies, domestic and international businesses, and international organisations. Themed “Strengthening the fundamental drivers for rapid and sustainable economic development,” VEF 2019 looked into opportunities as well as the difficulties and challenges facing the Vietnamese economy. "In 2018, Vietnam's economic growth reached the record high of 7.08 per cent since 2008. Many economic indicators surpassed the targets to break records. In particular, the country's export turnover hit $245 billion, up 13.7 per cent. Vietnam also attracted $35.5 billion worth of FDI, while its FDI disbursement reached an impressive $19.1 billion, up 19.1 per cent," said Nguyen Van Binh, head of the … [Read more...] about Vietnam Economic Forum 2019 seeks new drivers for sustainable growth
Workers inspect parts at a factory in Hanoi. (Photo: hapi.gov.vn) Of them, some 400 would be eligible to have production systems and their products in line with international standards, as well as have sufficient supply capacities in global production networks from multinational corporations in Vietnam, the department said. Top priority should be given to fostering trade promotion, cooperating with foreign firms and encouraging them to invest in the city’s supporting industries, the department’s deputy director Dam Tien Thang said. Local firms should innovate and seek ways to improve their competitiveness and getting access to multinational businesses in order to gain a better understanding of their partners’ product requirements, according to Thang. He added that supporting industries, which have played a crucial role in the city’s industrial restructuring progress, are expected to make significant contributions to enhance competitiveness, … [Read more...] about Hanoi strives to have 900 firms in supporting industries by 2020
Happy Birthday to our dearest VIR! 28 years of deep and dynamic journalism Luc Mandret - General manager MSLGROUP Vietnam VIR is a very trusting partner for MSL, as one of Vietnam’s top tier business media outlets. We are thrilled to partner with VIR for the quality of the holistic understanding of the business, with the most updated economic news, and insightful in-depth articles. VIR is an essential reading for business leaders, investors, and decision-makers in Vietnam. And for MSL as a communication agency, we really appreciate highlighting our clients’ prospective and financial news. It’s always a pleasure to work with VIR journalists: they are proactive, knowledgeable, and reliable in reporting accurate news and analysis. For us, VIR has been one of our key media partners. We highly appreciate the hard-working and dedicated reporters from VIR, who have supported us in many events and business stories for our clients in diverse sectors such as … [Read more...] about Happy Birthday to our dearest VIR!