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The capital market, digitalization, energy transition, climate change, and strategic infrastructure are key potential fields for Warburg Pincus to focus on in Vietnam. Vietnam’s business environment and macroeconomic conditions have become more stable and favorable for foreign investors, said CEO of global private equity firm Warburg Pincus Charles Kaye at a meeting with Prime Minister Pham Minh Chinh on May 15. Prime Minister Pham Minh Chinh and CEO of global private equity firm Warburg Pincus Charles Kaye. Source: VGP Kaye said investors are concerned about the four major issues, including the capabilities of local companies, macro-economic stability, infrastructure, and the authorities' responsiveness. In this regard, Kaye said Vietnam could do more in infrastructure development as one of the measures to improve the business environment. The CEO also revealed a plan to expand the equity firm investment portfolio in Vietnam’s real estate market and … [Read more...] about Vietnam’s business environment favorable for foreign investors: Warburg Pincus

Vietnam are ranking first in Group A of men’s football at the 31st Southeast Asian (SEA) Games after defeating Timor Leste 2-0 in their last group-stage match in northern Phu Tho Province on Sunday evening. As Vietnam had already secured a spot in the semifinals, coach Park Hang Seo decided to deploy his reserve line-up in this game. Despite having the advantage over Timor Leste, the Golden Stars were unable to net any goal in the first half. Nguyen Van Tung opened the scoring for Vietnam in the 53rd minute with an accurate header following a pass from Le Van Do. Timor Leste boosted their offensive and were able to strike Vietnam’s net in the 56th minute, but the goal was disallowed for offside. Vietnam were given a corner kick in the 65th minute, allowing Ho Thanh Minh to widen the gap for the Golden Stars with another header. No more goals were scored in the remaining time of the match. The 2-0 victory helped Vietnam become the leaders of Group A with 10 points, … [Read more...] about Vietnam defeat Timor Leste to advance to SEA Games men’s football semis as group leaders

U.S. President Joe Biden said he has a lot of affection for Vietnam and promised to provide more support for the Southeast Asian country during his meeting with Vietnamese Prime Minister Pham Minh Chinh earlier this week. PM Chinh met with President Biden at the White House in Washington, D.C. on Thursday (local time) within the framework of U.S. - ASEAN Special Summit, according to the Vietnam News Agency. During their talks, President Biden said that he personally has a lot of affection for the country and the people of Vietnam. When he was still a senator, Biden and John McCain, his late friend and colleague, had lobbied to promote the U.S. relations with Vietnam, he added. As a leading developed country, the U.S. is eager to cooperate with and assist developing countries in various areas, including economic and trade development, disease prevention and control, and climate change response. U.S. President Joe Biden and leaders of ASEAN member countries pose … [Read more...] about US President Joe Biden has lots of affection for Vietnam: news agency

Vietnamese athletes amassed 29 more gold medals on Sunday, bringing their 31st Southeast Asian (SEA) Games gold tally to 66, helping the hosts stay atop the medal table by the end of the competition day. The gold medals came from duathlon, wushu, standard chess, blitz chess, dancesport, track and field, gymnastics, swimming, bodybuilding, pétanque, jiu-jitsu, fencing, and e-sport. Notably, wushu - a hard and soft and complete martial art - contributed seven golds, while dancesport and track and field bagged five each. At the time of writing on Monday, Vietnam’s medal count has included 66 golds, 46 silvers, and 43 bronzes, which is the leading achievement compared to other sport delegations, according to statistics on the 31st SEA Games’ official website. Thailand followed behind with 27 golds, 24 silvers, and 42 bronzes, while the Philippines jumped to third place with 20 golds, 27 silvers, and 37 bronzes. Indonesia fell to No. 4 and Malaysia ranked fifth, while Singapore, … [Read more...] about Vietnam continues topping medal table at SEA Games with 66 gold medals

Editor’s note: Valentin Constantinescu wrote to Tuoi Tre News to share his thoughts on his own wedding following our series on things that often ‘shock’ foreigners when it comes to traditional Vietnamese weddings. The Romanian man has lived in Vietnam since 2004 and married his Vietnamese wife in 2018. This piece has been titled, subtitled, and edited by Tuoi Tre News for clarity, consistency, and coherence. Long story short, I met my wife in 2016 in Hanoi. About six months into our relationship, we realized we would be with each other forever. In August 2018, we decided to sign the papers to be legally married in Vietnam. We moved to Ho Chi Minh City shortly after and planned to hold our actual wedding ceremony on September 17, 2021. 17th of September is our anniversary – it’s the day she agreed to be my girlfriend. She chose the year 2021 because it looks cool – 20 and 21 are consecutive numbers. Unfortunately, COVID-19 completely ruined our plans – we lost a … [Read more...] about ‘Weddings in Vietnam seem very aloof to me’

Visitors at the last edition of the Vietnam International Premium Products Fair. This year the fair will be held from June 2 to 5 at the Saigon Exhibition and Convention Centre. — Photo courtesy of Coex Vietnam HCM CITY — The Việt Nam International Premium Products Fair will be held again in HCM City after being delayed due to the COVID-19 pandemic. VIPREMIUM 2022 returns from June 2 to 5 with a mission of connecting domestic and foreign businesses in the beauty - fashion, premium food and beverages, gift and houseware, smart devices, healthy and eco-friendly items, stationery, and office items industries, according to the organisers. To be held at the Saigon Exhibition and Convention Centre, the fair will have 350 booths set up by 250 companies, and is expected to welcome 10,000 buyers and visitors. Among its highlights will be the Korea Sourcing Fair with brands from across Korea and premium consumer products. Seminars will be hosted on the sidelines by experts on various … [Read more...] about Vietnam International Premium Products Fair attracts over 250 exhibitors

The number of new Covid-19 infections continued to drop with 1,594 cases recorded on Sunday, down 301 cases from the previous day, according to the Ministry of Health. According to the ministry's report, most of the new patients are locally-transmitted cases confirmed in 53 out of 63 localities in the country with some localities seeing the highest numbers including Hanoi (461), Quang Ninh (88), Nghe An (80), and Yen Bai 80. As of Sunday evening, the number of Covid-19 patients in Vietnam has increased to over 10.70 million. The country now stands 12th among 227 countries and territories worldwide in the number of infections. On May 15, an additional 5,448 more patients recovered from the disease, raising the number of recoveries in the country to over 9.35 million. On Sunday evening, no death related to Covid-19 was announced, total fatalities stayed at 43,065. By May 14, the country had injected nearly 217 million doses of Covid-19 vaccines, including over 2.50 million … [Read more...] about Vietnam continues seeing falling daily Covid-19 infections, no death

At a Saturday conference in Harvard University on Vietnam's development strategy in the 21st century, Prime Minister Pham Minh Chinh said Vietnam's economy has expanded into the fourth largest economy in ASEAN and among the world's top 12 economies with the largest scale of commerce. The country also takes part in 15 active FTAs, he said. Economist David Dapic said Vietnam taking part in FTAs was a major success. Millions of farmers have moved on to work in factories as a result. But the fact that most materials for production are imported from China is a weakness, he added. When the Covid-19 pandemic broke out, borders were closed and there was commercial tension, Vietnam's exports were affected, Dapic said. Vietnam's trade turnover with the U.S. may reach $100 billion this year. Such a figure might be small for the U.S., but Vietnam should take note to remain in constant communication and avoid being accused of currency manipulation, he advised. Nguyen Thi Hong, head of the … [Read more...] about Avoid unworthwhile investments, try estate taxes, Vietnam advised

Vietnam's Chinese chess squad secures a gold medal with 12 points after winning all six rounds in the team's blitz chess event. (Photo: VNA) Quang Ninh - Vietnam's Chinese chess team on May 15 secured an absolute victory in the team's blitz chess event, bringing home another gold medal at the 31st Southeast Asian Games (SEA Games 31). Four teams, namely Thailand, Singapore, Malaysia and hosts Vietnam, competed in the blitz chess event with two players from each squad joining. The Vietnamese team won the gold medal with 12 points after winning all six rounds. The Singaporean team won the silver and the Malaysian squad bagged the bronze with seven and three points, respectively. On May 14, the Vietnamese squad won a gold medal in the team's fast chess event. Pham Hong Khanh, General Secretary of the Vietnam Chinese Chess Federation, said Vietnam's Chinese chess team has fulfilled the target set for the Games but witnessing what is happening the squad can dream of higher … [Read more...] about SEA Games 31: Vietnam grabs gold medal in blitz chess

Warburg Pincus is relishing its opportunities in Vietnam as the economy grows and capital markets develop, said Jeffrey Perlman, Southeast Asia chief of the private equity firm to Reuters. "It's a market that we think there's a lot of opportunity in," quoted Perlman in an interview with Reuters on March 22. "Four, five years ago, even in Vietnam there wasn't an understanding of what was private equity and what it will do to businesses." Warburg Pincus is relishing its opportunities in Vietnam. Vietnam's emergence as a large manufacturing destination next to China helped the Southeast Asian nation's economy grow at 6.8% last year, the strongest since 2010, Reuters reported.The growth is rapidly building up a huge middle class that is boosting consumer spending in a country of about 100 million. Its stock index VNI has risen 20% this year, the best performance in Southeast Asia, after surging by 50% last year. Perlman said the growth in Vietnam's capital … [Read more...] about Warburg Pincus: “Vietnam a big draw for global investor”