Want to be in the loop?
subscribe to
our notification
Business News
FIRST VENTURE SUMMIT OPENS IN HN
The 2019 Viet Nam Venture Summit opens in Ha Noi on June 10, attracting the presence of representatives of foreign funds to discuss new development trends and make specific financial commitments.
Minister of Planning and Investment Nguyen Chi Dung said that there were over 3,000 start-ups in Viet Nam in 2018, making the third largest in Asia. Over the last three years, total investment in start-ups surged sharply. Start-up absorbed US$ 899 million of investment in 2018, up three times against that in 2017 and five times against that in 2016.
The Vietnamese Government regards innovation as a driving force for growth in the coming time. Vietnamese management agencies have spared no effort to provide incentive policies and reform regulations to support start-ups.
Minister Dung revealed that the MoPI is working with relevant agencies to build and develop a national innovation center.
Hence, the summit will introduce Viet Nam’s business environment, start-up ecological system and the National Innovation Centre to participants, and acquire investors’ suggestions regarding the government’s support and others.
Discussions will focus on support and demand in financial technology, artificial intelligence and e-commerce, and experience in expanding business operations globally.
Minister Dung hoped that the summit will be held annually to promote innovation and encourage domestic firms to form venture funds.
Source: VGP
Related News
CUSTOMS BUDGET REVENUE EXPERIENCES 3% DECLINE IN Q1
Vietnam’s import and export value reached a total of US$145.59 billion in the first quarter (Q1) of 2024, marking a year-on-year growth of 18.2%. However, the customs budget revenue saw a 3% year-on-year decline, amounting to VND71,520 billion in the quarter, thereby achieving 19.1% of the full-year target.
RAPID LAW IMPLEMENTATION MAY PROPEL MARKET FORTUNES
“Investors and developers are looking forward to the implementation of the new law, which will remove obstacles for a range of projects that are struggling due to stalled procedures and lack of legality. For them, the earlier the better,” he said.
NATION URGED TO BUILD ON ECO-IP MODEL
Industrial parks (IPs) involved in an initiative that aims to help push them into the realm of being classed as eco-parks have seen improvements across a string of indicators, according to a review event in Ho Chi Minh City last week.
YEN LU INDUSTRIAL PARK: NEW DESTINATION FOR INVESTORS
Bac Giang is a destination chosen by many domestic and foreign investors thanks to its locational advantages and its most opening and favorable investment policies. Assisted by local authorities, Capella Land Joint Stock Company has effectively invested in industrial zones, especially Yen Lu Industrial Park - a new destination for investors, to contribute to the province’s success in investment attraction.
OPTIMIZING LEGAL AND REGULATORY FRAMEWORKS FOR EFFICIENT PUBLIC INVESTMENT DISBURSEMENT
According to the Ministry of Planning and Investment, a 1% increase in public investment raises GDP by 0.058%, and each VND1 disbursed stimulates an extra VND1.61 from the non-state sector. However, plan implementation often falls short at around 80% annually, despite government efforts.
NATION URGED TO BUILD ON ECO-IP MODEL
For the 2020-2024 project, three IPs were selected for the transformation including Deep C Industrial Zones in the northern city of Haiphong, AMATA City Bien Hoa in the southern province of Dong Nai, and Hiep Phuoc IP in Ho Chi Minh City. Over the last four years, the level of compliance with the international framework on eco-IPs for all pilot complexes has increased in terms of environment, economy, and management.