By Pham Van  February 12, 2019 | 02:07 pm GMT+7 Logivan has raised $5.5 million in the latest funding round. Photo by Logivan Logivan, a web platform that helps trucks connect with potential customers, said it has raised $5.5 million in the latest funding round. The investment comes from two Asian angel investors and Indonesian venture capitalist Alpha JWC Ventures. One of the angel investors is David Su, a founding managing partner at private equity firm Matrix Partners China, who invested through his family office. He said: "Vietnam is the next rising star in the growing Southeast Asia region and it is well poised to experience a similar growth trajectory as we witnessed over the past years in China. "Vietnam’s logistics industry is highly fragmented, logistics costs make up 23 per cent of Vietnam’s GDP, with 90 per cent of trucks in Vietnam being owned by individuals. Given the success of Manbang (a Chinese truck-hailing firm), we believe that … [Read more...] about Vietnamese logistics startup raises $5.5mln in latest funding round
Funding types for startups
According to Topica Founder Institute (TFI), a startup accelerator programme in Vietnam and Thailand, the year 2018 saw an explosion in startup investment. Total deal value surpassed $889 million, tripling from the $291 million of 2017. Of these, the 10 biggest deals were upwards of $40 million in value. These agreements included Yeah1, which received $100 million from a group of investors, Topica, which received $50 million from Northstar Group, and Sendo, which gained $51 million, and seven undisclosed deals valued at about $533 million. The sectors of fintech, e-commerce, traveltech, logistics, and edtech have attracted investors’ eyes. Of these, fintech sat in the first place in both deal value and deal count, with eight deals for $117 million. E-commerce came in second, with significantly fewer deals (only five, against 21 in 2017) worth approximately $104 million. They are followed by traveltech ($64 million), and logistics and edtech (three or four deals valued at over $50 … [Read more...] about Vietnam in crosshairs for South Korean startups
According to a 2018 report by the World Bank, Vietnam's credit access index ranks 29th out of 190 economies surveyed, higher than the average of the Organization for Economic Co-operation and Development (OECD) and East Asia & Pacific. But Vietnamese small and medium-sized enterprises (SMEs) said it is a big challenge for them to access credit. According to the Vietnam Chamber of Commerce and Industry (VCCI), only 30 percent of SMEs in Vietnam have access to loans from the formal sector, with the rest having to use their own funds or depend on unregulated loans. This makes it hard for them to find business opportunities and solve other problems with respect to cash flow, working capital, and debts. The VCCI has drawn up a list of loans types and the challenges each segment faces. Bank loans Many banks have made it possible for SMEs to get access to credit. In the past few years most joint stock banks have earmarked tens of trillions of dong ($1=VND23,381) for priority sectors. … [Read more...] about Who do Vietnam’s small and medium-sized enterprises turn to for funds?
PM calls for closer cooperation among ASEAN countriesBy Thuy Dung Prime Minister Nguyen Xuan Phuc speaks at the opening ceremony of WEF ASEAN 2018 - PHOTO: VGP HANOI – Speaking at the opening ceremony of the 2018 World Economic Forum on ASEAN (WEF ASEAN 2018) in Hanoi today, September 12, Prime Minister Nguyen Xuan Phuc called for stronger connectivity among ASEAN countries to strengthen the region’s competitive advantages amid the Fourth Industrial Revolution (IR4.0). PM Phuc stressed that the region holds high potential for hi-tech and digital economy development, adding that the ASEAN’s digital economy will develop significantly to reach US$200 billion by 2025. IR4.0 has presented ASEAN countries with numerous opportunities, especially in five sectors: electronics; chemicals, oil and gas; consumer goods; food; and pharmaceutical products. Besides this, small and medium enterprises (SMEs) have opportunities to grow, while artificial intelligence, robotics, … [Read more...] about PM calls for closer cooperation among ASEAN countries
Investors met with Deputy Prime Minister Vuong Dinh Hue (right) at Vietnam M&A Forum 2018 with the focus of discussing the future growth of Vietnam’s M&A market, Photo: Le Toan Choosing the right investors At last week’s Vietnam M&A Forum 2018 in Ho Chi Minh City, senior officials, experts, businesses, and investors discussed the future growth of Vietnam’s mergers and acquisitions (M&A) market. After 10 years of booming M&A activities in the country and 30 years of foreign direct investment attraction, many believe that now is the time for Vietnam to map out a plan for the next phase of growth. According to Minister of Planning and Investment Nguyen Chi Dung, in the new era, Vietnam will become much more selective about M&A inflows from overseas. Specifically, foreign investors should be willing to help with Vietnam’s environmental preservation plans and protecting Vietnam’s natural resources. “We’d like to attract … [Read more...] about Plan for new era fosters M&A market