Adrian Chng, GoBear CEO: Fintech primed to boost financial services sector in Vietnam Vietnam is setting records. Notably, at the end of last year, it was named one of the world’s Top 20 internet users with 64 million connected people and in January this year, Vietnam claimed the title of the world’s fastest growing wealth hub, clocking in 210 per cent wealth growth between 2007 and 2017. This is the reason that Forbes declared the country ‘every keen investor’s must-watch’ for 2018. Besides, It means that Vietnam sits at the beautiful intersection where personal finance meets inevitable innovation. In the last five years alone, Vietnam has experienced the entry of over 40 new fintech players, such as online payment platforms Mobivi and Momo, as well as the country’s first fully digital bank Timo. One of these is financial products comparison platform GoBear, one of Asia’s fastest growing startups that has recently undergone leadership … [Read more...] about Fintech primed to boost financial services sector in Vietnam
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Japan to provide patrol ships to Vietnam
Japan to provide patrol ships to Vietnam The Japanese Government has decided to provide Vietnam with six used patrol boats as part of a non-refundable aid package, and hopes these vessels will be upgraded for security patrols at sea. Japanese government sources said on July 31 Foreign Minister Fumio Kishida who arrived in Vietnam the same day for an official visit is expected to announce the delivery of the vessels during talks with his Vietnamese counterpart Pham Binh Minh in Hanoi on August 1. Two of the vessels are fisheries surveillance boats and the remainder are fishing boats. They are 600-800 ton class vessels. The sources also said Japan will also supply lifeboats and other equipment to Vietnam. The non-refundable aid package is worth JPY500 million. Japanese encephalitis kills 10 children in Son La Japanese encephalitis, a mosquito-borne disease that preys on young and malnourished children, has claimed ten lives out of to 84 reported cases in Son La province since the … [Read more...] about Japan to provide patrol ships to Vietnam
Social News 15/12
Vietnam welcomes COP21's climate deal Viet Nam has welcomed the Paris Agreement, which attempts to limit the rise in global temperature to less than 2oC, saying that it will open a new chapter in coping with climate change. In a statement yesterday, Vietnamese Foreign Minister Spokesman Le Hai Binh said that the ratification of the deal at the 2015 United National Climate Change Conference on Saturday night was also an important step in global efforts in dealing with climate change. "The world community needs to have strong political determination and effective co-operation to seriously and appropriately implement the Paris deal," Binh said. "Developed countries should take the lead to limit the greenhouse effect, support and enhance capacity for developing countries to implement the deal together," he stressed. Binh noted that being among the most-affected countries, Viet Nam had actively implemented measures to cope with climate change and seriously implemented international … [Read more...] about Social News 15/12
BUSINESS IN BRIEF 20/4
China’s influence in Laos overshadows Vietnam The gathering was held at the new Laos Investment Centre, chaired by the Lao and Vietnamese governments, and attended by government and business leaders from the two nations. “Vietnam and Laos have been strategic allies since the 1970s,” said Phoikham Houngbounyuang, deputy governor of the Lao province of Xaysomboun. The Deputy Governor said though land-locked Laos is one of the poorest countries across the globe, it has one thing in abundance, access to the Mekong River and massive hydropower potential. China is the largest investor in Laos, he said and currently is eying total FDI of more than US$31.45 billion in 240 investments, principally in hydropower, with Chinese investors currently involved in four of nine dam projects in the Laotian Mekong region. Chinese companies have also committed US$7.2 billion to a railroad linking its Yunnan province to the Lao capital Vientiane as it sees its southern neighbour as an … [Read more...] about BUSINESS IN BRIEF 20/4
BUSINESS IN BRIEF 13.1
Bullet train gets a second look The Ministry of Transport is conducting a new feasibility study for the construction of North-South Express Railway, with a focus on two initial sections – Ha Noi - Vinh and HCM City - Nha Trang. The study has been initiated after the National Assembly last June rejected the complete 1,570km North-South Express Railway project, saying the cost of US$55.85 billion was prohibitive. "We have to build an express railway, but every step of the construction will be studied carefully and properly and we are conducting a new feasibility study for that," said Transport Minister Ho Nghia Dung. He told the Sai Gon Giai Phong (Liberated Sai Gon) newspaper that the study would define clearly the technology to be used, capital mobilisation, project process and construction duration as required by the National Assembly. Dung estimated the study would take two to three years to complete and would include an investigation into the country's resources and … [Read more...] about BUSINESS IN BRIEF 13.1