The deal, which includes a combination of credit cards and personal loans, represents the largest single acquisition made by Collectius to date and signifies a growing need for debt restructuring solutions in the country as loan defaults become more common. The NPLs were a joint acquisition by Collectius and the International Finance Corporation (IFC), a member of the World Bank Group. Both parties partnered in 2020 to launch the $60 million Distressed Asset Recovery Platform Programme that focuses on the acquisition and resolution of distressed assets across emerging markets. This programme helped many customers across the region meet their financial obligations and regain creditworthiness. IFC is also a minority equity shareholder in Collectius. In addition, Collectius recently acquired NPL portfolios from a leading super app in Southeast Asia, as part of a regional deal that covers five countries including Vietnam. Through these NPLs acquisitions, Collectius now serves more … [Read more...] about Collectius acquires more than $800 million of non-performing loans in Vietnam
Three million
Dairy sector milks trade agreements for greater opportunities
Trade promotion plays a key role for the dairy sector How has the dairy sector recovered from the pandemic? Despite the prolonged pandemic, the domestic dairy market still reached VND113.7 trillion in revenues in 2020 and VND119.3 trillion in 2021. The country produced about 1.77 billion liters of fresh milk in 2021, up 4.5 percent compared to 2020, while powdered milk volume saw positive growth of 13.1 percent year-on-year to 151,500 tonnes. Vietnamese dairy businesses have strengthened trade promotion activities and sought export markets. Currently, Vietnamese dairy products are available in 50 countries and territories. In 2021, the sector had a turnover of nearly US$300 million. Milk is a special product and export markets always put quality at the top. Therefore, Vietnam’s milk and dairy product exports to foreign markets are considered a great success. Tran Van Trung, chairman of the Vietnam Dairy Association What are the opportunities for the dairy … [Read more...] about Dairy sector milks trade agreements for greater opportunities
President highly values Cao Dai followers’ contribution to country
He said Caodaism is a religion coming into being in Vietnam, and during its development process, it has helped diversify the country’s traditional culture and uphold solidarity when encouraging its dignitaries and followers to stand side by side with the nation. During the resistance wars for national independence as well as national development and defence efforts at present, Cao Dai followers have always upheld their patriotic spirit and contributed to national liberation and construction, he noted, adding that the Party and State always appreciate their dedications. The Party and State have paid great attention to and given support for religious activities, including those of Caodaism. They have been working to ensure people’s right to freedom of religion and create conditions for religious followers and dignitaries to practice their religions properly, according to the State leader. President Phuc expressed his hope that Cao Dai churches and organizations will remain united … [Read more...] about President highly values Cao Dai followers’ contribution to country
Midfielder Quang Hai has first practice with French club
The practice session began at 9:30 a.m. local time amid a light drizzle, according to Pau FC. Hai, the first Vietnamese to play for a professional club in France, and his teammates were present about 10 minutes prior. Despite not being able to speak French yet, Hai greeted his teammates and was met with warm welcome in response. They had a warm-up run for 20 minutes under the instructions of coach Didier Tholot. There would be two practice sessions every weekday except for Wednesday. A press conference took place in the afternoon the same day to announce the Pau FC’s newcomers, including Hai. A friendly match with another team in Dax is expected on July 8, before the first match of the Ligue 2 on July 30. In six seasons at Hanoi FC, Hai played 126 matches, scored 35 times and won every domestic title and the Vietnam Golden Ball in 2018. He also played an important role in Vietnam winning the 2018 AFC U23 Championship's second place, the 2018 AFF Cup title and SEA Games 30 gold … [Read more...] about Midfielder Quang Hai has first practice with French club
VinShop aims for success as store connection platform
Tokopedia's success lesson Founded in 2009, Tokopedia is one of Indonesia's tech unicorns. According to CB Insights (U.S.), Tokopedia's value reached $7 billion as of June 2020, becoming the third largest unicorn in Southeast Asia, behind Grab (Singapore) and Gojek (Indonesia). Tokopedia was developed as a shopping platform where any business could easily arrange and sell its products. William Tanuwijaya, co-founder of Tokopedia, said that the company's business model is similar to Alibaba's as it combines Toko (shop) and encyclopedia. In 2018, Tokopedia launched the Mitra Tokopedia app for warungs - small family-owned businesses that usually cater to a neighborhood. Mitra Tokopedia has recorded one million downloads in the island nation that has two million warungs. Tokopedia has been successful in bringing technology into Indonesia's grocery stores. Photo by Tokopedia Mitra Tokopedia has gained popularity and is now present in more than 20 major cities, … [Read more...] about VinShop aims for success as store connection platform
One Mount honoured by Google as Best Partner in Supply and Logistics
One Mount is the only enterprise in Vietnam to receive a global award from Google Cloud For the past year, One Mount and Google Cloud have worked together to build the largest technology ecosystem in Vietnam. The strategic collaboration sees One Mount leveraging Google Cloud’s open, scalable, secure-by-design, and carbon-neutral infrastructure and services across the Group’s core lines of business in retail and real estate – including products and services like VinShop, VinID, and OneHousing. With VinShop as the local market leader in online and technology-enabled grocers, One Mount has integrated solutions from Google Cloud to digitalise and modernise the entire fast-moving consumer good supply chain in Vietnam. The move has brought great value and solved key pain points for multiple stakeholders, from manufacturers and distributors to grocers and customers. VinShop owns a modern warehouse system, managed and operated by technology The integration has been … [Read more...] about One Mount honoured by Google as Best Partner in Supply and Logistics