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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

In accordance with a resolution to improve the effectiveness of state companies signed by Deputy Prime Minister Le Minh Khai, Vietnam will have at least 25 state-owned businesses with either a stockholder's equity or a market capitalization of $1 billion. Among these, at least 10 businesses must reach over $5 billion in capitalization. Within the next five years, these companies would contribute 5-10 percent more to the national budget compared to the 2016-2020 period. All state-owned businesses would shift their investments towards projects that utilize green technologies and reduce carbon emissions. State-owned businesses now account for around 0.08 percent of all businesses in Vietnam, but possess around 7 percent of assets and 10 percent of equity of all businesses in the market, according to the Ministry of Finance. They also account for around 26 percent of stockholders' equities and over 23 percent of the value of fixed assets and long-term financial investments of active … [Read more...] about Vietnam targets 10 $5 bln state-owned firms by 2025

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

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

Defence Ministers Phan Van Giang (L) and Samdech Pichay Sena Tea Banh salute Border Marker No. 69 on the Vietnam - Cambodia borderline on May 15. (Photo: VNA) Binh Phuoc (VNA) – Vietnam and Cambodia held the first border defence exchange in the border areas of Loc Ninh district of the former’s Binh Phuoc province and Snuol district of the latter’s Kratie province on May 15. Co-chairing the event, Vietnamese Minister of National Defence Gen. Phan Van Giang and Cambodian Deputy Prime Minister and Minister of National Defence Samdech Pichay Sena Tea Banh saluted Border Marker No. 69, planted friendship trees, witnessed a joint patrol, cut the ribbon to open a military - civilian medical centre in Loc Ninh, and visited two primary schools in the districts. At the following talks, Giang said this was the first border defence friendship exchange between the two countries at the ministerial level. It became even more meaningful as 2022 is the two countries’ Friendship Year … [Read more...] about Vietnam, Cambodia hold first border defence exchange

He was speaking during a meeting with the US business community in Washington DC on May 12 (US time), as part of the Vietnamese leader’s trip to the US. The meeting was held by the US-ASEAN Business Council and the US Chamber of Commerce. PM Chinh affirmed that Vietnam always considers the US as a leading, important partner. He said the impressive growth of bilateral trade of between 17-20 per cent a year proves that there remains ample room for economic development between the two countries. Prime Minister Pham Minh Chinh meets US investors and business leaders in Washington DC on May 12 (US time) — VNA/VNS Photo Vietnam is the ninth largest trading partner of the US. Two-way trade turnover between the two countries in 2021 reached nearly US$112 billion in spite of difficulties caused by the COVID-19 pandemic, the PM said. PM Chinh added that Vietnam is focusing on technology renovation, digital transformation and diversification of the supply chain. The … [Read more...] about PM Chinh meets US business community

Decisive factors Cybersecurity plays an important role in accelerating the national digital transformation process. According to Trinh Ngoc Minh, a member of the Executive Committee of Vietnam Information Security Association’s (VNISA) southern branch, Vietnam has significantly improved its data privacy protection capabilities and was listed among the top 25 countries and territories (out of 194) in the 2020 Global Cybersecurity Index (GCI). Minh said investment and interest in Vietnam's cybersecurity have been growing, with spending in this field increasing 50 percent and numerous domestically developed information security products put into use. Minh explained that a cybersecurity powerhouse is able to affect the world's cybersecurity system, pointing to the US, Russia and Israel as outstanding examples of such powers. Sharing Minh’s view, Vice Chair of VNISA and Deputy Chair of Bkav, Ngo Tuan Anh, said Vietnam boasts a highly qualified IT (information technology) … [Read more...] about Vietnam’s path to becoming a cybersecurity powerhouse

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”

Hardy Diec, Managing Director of FedEx Express Indochina. Photo by FedEx Express What’s the status quo with the logistics industry? Supply chains have never been more important. More than that, reliability and accuracy in these supply chains have now become even more paramount. During this pandemic, the logistics industry has proven to be vital, whether in delivering critical healthcare shipments including vaccines and medicine, or delivering huge volumes of e-commerce shipments to end consumers. The pandemic has shifted consumer behavior greatly. The boom in e-commerce will continue to be a powerful engine of the global economy. We’re witnessing how essential supply chains are to business survival, success and growth - they are not just an opportunity to reduce cost. Businesses are rethinking their supply chains, moving to a "just in case" approach for inventory management to counter unplanned scenarios. Being able to receive products and critical components either by … [Read more...] about Innovative logistics models in great demand: FedEx director