Warburg Pincus Celebrates 10 Years of Investing in Viet Nam
A celebration event was hosted in Ha Noi with the attendance of Mr. Marc E. Knapper, US Ambassador to Viet Nam, and Mr. Tran Duy Dong, Deputy Minister of Planning and Investment of Viet Nam, along with senior leaders of the government agencies and business partners who have been pivotal in Warburg Pincus' decade-long journey in Viet Nam. Viet Nam is one of Warburg Pincus’ top five investment destinations globally and currently the third largest investment destination in Asia. Since 2013, Warburg Pincus has been at the forefront of investing in Viet Nam, playing a significant role in the country's economic growth and development. Its equity investments range from real estate to financial services and technology, including BW Industrial, a leading logistics and industrial real estate platform in Viet Nam; Vincom Retail, a leading retail real estate platform in Viet Nam; MoMo, a leading digital financial services platform in Viet Nam; Techcombank, a leading retail banking franchise in Viet Nam; Lodgis, a leading hospitality platform and developer in Southeast Asia, and others. Warburg Pincus in Viet NamWarburg Pincus started investing in Viet Nam in 2013.
Source:Viet Nam News
November 11, 2023 13:34 UTC
Festival promotes Vietnam-Laos cooperation in information, communications
At the opening ceremony of the Vietnam-Laos Friendship Festival. (Photo: VGP)Vietnamese and Lao delegates visit the photo exhibition during the festival. (Photo: cand.vn)- The Vietnam-Laos Friendship Festival was held in Hue city in the central province of Thua Thien-Hue on November 11.The event was part of activities to celebrate the 61th founding anniversary of Vietnam-Laos diplomatic relations (1962-2023), and 46 years of the signing of the Vietnam-Laos Treaty of Amity and Cooperation (1977-2023).Addressing the event, Vietnamese Deputy Minister of Information and Communications Nguyen Thanh Lam said that the festival aims to promote Vietnam-Laos cooperation in the field of information and communications, which forms part of the intergovernmental agreement on digital partnership, digital transformation in press activities, settlement of fake and harmful news, and enhancing digital skills for people, heading to a safe and healthy digital space, turning information to knowledge.He noted that currently, many large-scale firms of Vietnam such as Viettel, VNPT and FPT have invested in Laos , contributing to turning Laos into one of the countries with the widest 4G coverage in Southeast Asia and supplying Internet services to Lao people.In the fields of press and communications, the two sides have enjoyed fruitful cooperation. Besides providing Laos with support in facilities, techniques and training, Vietnam has assisted Laos in producing valuable communication and information products, he noted.Lao Deputy Minister of Information, Culture and Tourism Keomanyvong Phosy said that information and communications has been a bright spot in the Laos-Vietnam partnership with various collaboration projects.The official expressed her hope that the festival will become an annual event that helps promote bilateral exchanges in the field and open new chances of cooperation between the two countries.The festival will take place until November 15 with various activities, including an exhibition of 200 photos featuring the nation, people, culture of Vietnam and Laos and partnership between the two sides in many areas. New technologies in the field of information, communications and journalism will also be introduced within the event's framework./.
Source:Viet Nam News
November 11, 2023 11:50 UTC
Vietnam prepares for 11th Asia-Pacific Regional Conference of IFRC
At the Vietnam Red Cross Society (VRC) Central Committee's training course in Hanoi on November 10. (Photo: VNA)A training course on diplomatic and security activities in preparation for the upcoming 11th Asia-Pacific Regional Conference of the International Federation of Red Cross and Red Crescent Societies ( IFRC ) was held in Hanoi on November 10.Organised by the Vietnam Red Cross Society (VRC) Central Committee, which is also the host of the conference, the course provided VRC staff members and volunteers with basic knowledge about necessary reception works and skills to handle situations arising.Themed “Becoming disaster ready in Asia Pacific”, the quadrennial conference is scheduled for late November in the capital city. About 350 domestic and foreign delegates are expected to participate in a forum on young leaders’ innovation in coping with catastrophes, along with other sidelines activities.The event offers an opportunity to promote the image of Vietnam and its people, and enhance development cooperation between the VRC and international partners and organisations and businesses around the world. It will contribute to affirming the commitments by the Vietnamese government, as well as the responsibility for action of Red Cross and Red Crescent societies in the region in climate change and catastrophe response.The IFRC is the largest humanitarian network in the world, with 192 member societies./.
Source:Viet Nam News
November 11, 2023 10:34 UTC
VIETNAM NEWS HEADLINES NOVEMBER 11/2023
This was followed by Ton Duc Thang University at 138th place, Vietnam National University-Hanoi at 187th place, and Vietnam National University-Ho Chi Minh City at 220th place. Representatives from Belgium travel firms affirmed that they will continue to introduce Vietnam tourism to their customers in Belgium and Europe. Quảng Trị Province approves sea dumping areasThe People's Committee of Quảng Trị has just approved 720ha of sea area for sinking dredged materials. Vietnam's beauty, achievements showcased at Mexico City exhibitionA photo exhibition themed “Vietnam – Attraction and Dynamism” is underway in Mexico City, featuring a strong and beautiful nation of Vietnam. At the event, Vietnam Airlines and the UN Office in Vietnam signed a commitment to participate in the Women's Empowerment Principles (WEPs).
Source:Viet Nam News
November 11, 2023 04:56 UTC
US Treasury maintains stance of not listing Việt Nam as currency manipulator
HÀ NỘI — The latest semi-annual report from the US Department of the Treasury has once again excluded Việt Nam from its list of currency manipulators, according to an announcement by the State Bank of Vietnam (SBV) early this week. This report assesses the macro-economic and foreign exchange policies of the US's major trading partners based on three criteria: trade surplus with the US, current account surplus, and persistent, unilateral intervention in the foreign exchange market. The US Treasury's monitoring list of major trading partners includes six economies: China, Germany, Malaysia, Singapore, Taiwan (China), and Việt Nam. Therefore, it was named in the monitoring list. The SBV said that at its recent meetings with the central bank, the US Treasury highly valued Việt Nam’s governance of the monetary policy and foreign exchange rates, which showed the Southeast Asian country’s seriousness in addressing the US side’s concerns and maintenance of the stability of the financial and monetary markets and the macro-economy amid numerous difficulties and challenges.
Source:Viet Nam News
November 10, 2023 20:39 UTC
New salary regime to be implemented from July 2024
The National Assembly has requested that the Government implement salary policy reform under Resolution No 27 from July 1, 2024. Accordingly, officials and civil servants will be paid according to their job position instead of the current low, unmotivating salary policy. The Ministry of Home Affairs has developed six specific contents in the new salary regime, according to title and job position. There are 861 positions for public officials and civil servants, of which 137 are leadership and management positions, 665 are in specialised civil servant groups, and 22 are in support teams. The move is expected to make a drastic change in salary payment policy of Vietnam./.
Source:Viet Nam News
November 10, 2023 17:28 UTC
HKPC announces the key findings on the "Hong Kong AI Industry Development Study"
Overview of domestic and overseas AI industry development: Governments worldwide are promoting the development of AI-led industries. These reformed listing rules will attract more AI companies to list in Hong Kong and more venture capital funds to come to Hong Kong. Additionally, formulate preferential policies to encourage AI companies to relocate non-local AI tech employees to Hong Kong and attract AI talent from across the globe to develop in Hong Kong. HONG KONG SAR - Media OutReach - 10 November 2023 - Hong Kong Productivity Council (HKPC) released the key findings on their "Hong Kong AI Industry Development Study" today, focusing on the status of Hong Kong's artificial intelligence (AI) industry development, domestic and overseas competition and local corporate utility. "Please click here to view the key findings of "Hong Kong AI Industry Development Study" (Chinese only).
Source:Viet Nam News
November 10, 2023 16:03 UTC
VIETNAM NEWS HEADLINES NOVEMBER 10/2023
Vietnam committed to zero tolerance for drug crimesA representative of Vietnam affirmed that Vietnam is committed to zero tolerance for drug crimes at the 30th Anti-Drug Liaison Officials' Meeting for International Cooperation. Plenty of room for Vietnam to boost urban development: OfficialWith the current urbanisation rate of only 42.6%, there is plenty of room for Vietnam to promote urban development, Minister of Construction Nguyen Thanh Nghi said at a forum on sustainable urban development held in Hanoi on November 8. According to the Resolution, after 35 years of “Doi moi” (Renewal), Vietnam has gained important achievements in urban development, including the expansion of urban spaces and improved socio-economic infrastructure. Speaking at the opening ceremony, Australian Ambassador to Vietnam Andrew Goledzinowski said that NGOs are a key partner in Australia’s overseas development assistance globally and in Vietnam. Nguyen Ngoc Hung, VUFO Vice President said that Australian NGOs have been supporting and partnering with Vietnam from early stages.
Source:Viet Nam News
November 10, 2023 16:01 UTC
Media Future Labs to return at 2023 Global Media Congress with an expert line-up
ABU DHABI — ADNEC Group and Emirates News Agency (WAM) have confirmed the return of the popular Media Future Labs at this year's Global Media Congress (GMC), taking place at the Abu Dhabi National Exhibition Centre (ADNEC) in Abu Dhabi from 14 – 16 November 2023. These no-holds-barred discussions tackle the most pressing issues facing the global media landscape in 2023 and beyond. Bringing together leaders, operators, and innovators on the frontlines of the world's media, the Media Future Labs critically examine the challenges and opportunities faced by players across the media spectrum. We are delighted to welcome a diverse and expert line-up to six new Media Future Labs this year in what promises to be a fascinating series of discussions. Registration to join the audience for each Media Future Lab is highly recommended, as places are limited.
Source:Viet Nam News
November 10, 2023 15:19 UTC
Vietnam urges immediate ceasefire in Israel - Hamas conflict zone
MoFA Spokeswoman Pham Thu Hang speaks at a press meeting of the ministry. (Photo: VNA)– Spokeswoman of the Ministry of Foreign Affairs Pham Thu Hang on November 9 emphasised Vietnam’s appeal for an immediate ceasefire in the Israel - Hamas conflict zone.“Vietnam strongly condemns the violent attacks against civilians, humanitarian workers, journalists, and essential infrastructure facilities,” Hang responded to a reporter’s question about the escalating tension in the zone of the Israel - Hamas conflict while addressing the ministry’s regular press meeting.“In the spirit of the resolution adopted by the United Nations General Assembly at the emergency special session on October 27, we call on the parties concerned to exercise an immediate ceasefire, adhere to international law and international humanitarian law, protect civilians and civilian infrastructure, open a humanitarian corridor, and immediately release the hostages taken.“Vietnam welcomes and supports efforts by the international community to promote the parties’ self-restraint, dialogue, and settlement of differences by peaceful means on the basis of international law and the relevant resolutions of the UN to achieve a just, appropriate, and long-term solution to the Middle East peace process,” the official added./.
Source:Viet Nam News
November 09, 2023 23:13 UTC
ESG implementation key to net-zero goal and sustainability
However, integrating and incorporating ESG standards into brand development still faces numerous difficulties and challenges. He said an increasing number of foreign investors have been making the implementation of ESG a key priority in investing in Việt Nam in recent years. Vinh said businesses can use the Corporate Sustainability Index, established by VCCI in 2016, to review their ESG performance to identify weaknesses and potential. She said that once successfully implemented, ESG will play an important part in helping businesses identify key issues and realise their full potential. During the event, participants discussed difficulties and challenges in the implementation of ESG in Việt Nam, as well as international experiences and recommendations to help the government and businesses adopt the standards.
Source:Viet Nam News
November 09, 2023 20:14 UTC
Connecting trade and investment between Việt Nam and the US’ Montgomery County
HÀ NỘI — The Vietnamese-American Business Council (VABC) with support from the American Chamber of Commerce in Việt Nam organised a trade promotion programme between Montgomery County in Maryland of the US and Vietnamese businesses in HCM City on Tuesday. The event provides opportunities for Vietnamese investors and businesses to learn more about Montgomery County's strengths and opportunities for business development through co-operation with government, agencies and business organisations of Montgomery County. Within the framework of the event, many investors have shared opportunities for co-operation in the fields of technology, artificial intelligence, biotechnology. It will play a consulting role, connecting partners and information with senior government officials, business leaders and trade organisations from Montgomery County and Việt Nam. Montgomery County, Maryland, is the third largest biotechnology center in the US, with strengths in the fields of biotechnology, artificial intelligence, cyber security technology.
Source:Viet Nam News
November 09, 2023 19:11 UTC
Vietnam has necessary conditions, factors to develop semiconductor industry: Insiders
Illustrative image (Photo: baodautu.vn)Vietnam has necessary conditions and factors to develop the semiconductor industry. According to HSBC, half of Samsung's global smartphone output comes from Vietnam. This has also encouraged other tech giants, especially Apple, to expand their operations.Do Van Su, Deputy Director of the Foreign Investment Agency, said that there is a shift of capital from North American investors to Vietnam. To date, US-based Apple has completed the transfer of 11 audio-visual equipment factories to the Southeast Asian nation. The country has been increasingly attracting major semiconductor corporations from the Republic of Korea, Taiwan (China), and the US.According to her, US President Joe Biden's visit to the country in September and the jointly announced upgrade of bilateral relations to a comprehensive strategy was a demonstration of the US and Vietnam's cooperation in innovation and development of the semiconductor industry as their highest priorities.At the ongoing sixth plenary session of the 15th National Assembly, in a report on the goals and targets of Vietnam's economy in 2023, 2024 and the following years, Prime Minister Pham Minh Chinh emphasised the development of several key industries that Vietnam is aiming for, including the processing, manufacturing, and semiconductor industries.According to Minister Dung, Vietnam has a wealth of potential, opportunities and all the necessary conditions and factors to develop the semiconductor ecosystem./.
Source:Viet Nam News
November 09, 2023 15:00 UTC
VIETNAM NEWS HEADLINES NOVEMBER 9/2023
He also suggested increasing the frequency of flights between the two countries to boost people-to-people exchanges and tourism cooperation. On this occasion, he invited Eliane Tillieux and a delegation of the Belgian Chamber of Representatives to visit Vietnam. Congratulating Juan Carlos Fernandes Juarez on assuming his duty as Venezuelan Ambassador to Vietnam, President Thuong expressed his belief that during the term, the Vietnam - Venezuela cooperation will obtain new achievements. The city has also pushed ahead with the rural tourism development programme in line with the 2021-2025 new rural development strategy. The exhibitions of traditional costumes of Vietnamese ethnic groups have helped him raise funds for humanitarian projects in Vietnam.
Source:Viet Nam News
November 09, 2023 10:03 UTC
Vietnam joins 39th Havana International Fair
The 39th Havana International Fair ( FIHAV ), the largest annual event of its kind in Cuba and the Caribbean region, lasts from November 6 to 13 with the participation of over 800 businesses from 60 countries and territories worldwide. (Illustrative image - Source: Prensa Latina)Vietnam on November 8 opened its 400-sq.m national pavilion at the 39th Havana International Fair (FIHAV), the largest annual event of its kind in Cuba and the Caribbean region.The fair lasts from November 6 to 13 with the participation of over 800 businesses from 60 countries and territories worldwide.Representatives of 16 Vietnamese firms are present at the fair, with more than 50 others sending their products for display. The Vietnamese space is showcasing agricultural products, processed food, household items, construction materials, interior and exterior decorations, vaccines, and biological products.Speaking at the opening ceremony, Cuban Minister of Transport Eduardo Rodríguez Dávila expressed his gratitude to Vietnam for maintaining a strong relationship and cooperation with the Caribbean nation for over the past six decades, especially in times of hardship. He noted that the Southeast Asian country has become Cuba’s second-largest trading partner in Asia and the largest rice supplier in the world.The minister expressed his confidence that Vietnamese enterprises will continue to invest and operate steadily in Cuba for the development and benefits of the two countries' people.Deputy Director of the Vietnam Trade Promotion Agency (Vietrade) Hoang Minh Chien said bilateral trade reached 181.8 million USD in 2022.On the same day, the Vietnamese Embassy in Cuba, in collaboration with the Cuban Chamber of Commerce and relevant units, organised a Vietnam-Cuba business forum within the framework of FIHAV 2023.The event gathered more than 100 Vietnamese and Cuban enterprises with capabilities and experience in various fields such as farm produce, food and beverages, household appliances, handicrafts, agricultural and construction machinery, and healthcare./.
Source:Viet Nam News
November 09, 2023 09:27 UTC