In July, the Bank for Investment and Development of Vietnam (BIDV) together with the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), the Bank for Industry and Trade (VietinBank) and many other banks officially announced the application of a new transaction authentication method called Smart OTP, applied to transactions to transfer money to other holders’ accounts (for corporate customers) and money transfer transactions to other holders’ accounts which amount to over 100 million VND (4,300 USD) per day (for individual customers). … [Read more...] about Does Smart OTP help reduce high-tech crime in banking?
Hanoi (VNS/VNA) - Vietnam has emerged as a destination for large tech firms as the trade dispute between the US and China continues to intensify with no end in sight. However, whether and how much Vietnam can take advantage of the shifting FDI flow out of China remains to be seen. “I’m afraid it doesn’t look very promising,” said Nguyen Duc Thanh, Director of the Vietnam Institute for Economic and Policy Research (VEPR), commenting on a claim by a former Japanese ambassador to Vietnam that some 20,000 Japanese businesses in China were said to be on the lookout for alternatives. Whether they go to Vietnam, India or Indonesia or elsewhere will come down to the country’s business environment and quality of labour force, he said. Among ASEAN countries, Malaysia, Indonesia and Thailand are countries with better industrial infrastructure. India enjoys a significant advantage of having English as a common language and a massive young labour force. Vietnam was … [Read more...] about High-tech FDI shouldn’t be taken for granted
With the EU-Vietnam Free Trade Agreement being set to go live this year, and the government’s supporting programme to come out in line with Industry 4.0, the FDI picture at the three high-tech parks may be brighter as technology firms from Japan, the US, South Korea, and Europe are making business and investment plans in Vietnam, on the back of their countries’ new policies. … [Read more...] about Vietnam’s high-tech parks in need of financial inspiration
The People’s Committee has green-lighted the establishment of the company with a 51 per cent stake owned by the State and the rest by State enterprises and private companies with experience in information security. – VNS … [Read more...] about HCM City moves closer to setting up Information Security Centre
Local startups are believed to start with the business in the fields of agriculture, handicrafts and traditional cultural products, which allow them to take full advantage of products in localities. This is attributed to the lack of participation and consultation from experts in the fields and the lack of programs to support and orient their business in the first phases of development. … [Read more...] about Only 2 percent of startups are ‘real’ startups: experts