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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

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”

The latest decision is expected to boost the traveling of visitors to Vietnam in the context that the country's Covid-19 infections have dropped to a 10-month low. Vietnam has removed the pre-entry Covid-19 testing requirements for all arrivals, starting today [May 15], according to a recent government’s instruction. It comes as the numbers of Covid-19 infections and deaths drop both in Vietnam and around the world. Vietnam has reported no Covid-19 related deaths over the past week while infections fell to a 10-month low of around 1,800 cases per day. In an official document issued this weekend, Prime Minister Pham Minh Chinh cited a World Health Organization (WHO)’s report that the pandemic has tended to subside worldwide, shown by the reducing number of new contractions and fatalities, and that the vaccines are still effective against variants of the novel coronavirus. In such context, many countries have been taking steps to ease Covid-19 restrictions, including removing … [Read more...] about Visitors to Vietnam no longer required Covid-19 testing

Vietnam advanced to semi-finals with all four winning matches. Vietnam continued winning in the fourth and final match of the group stage at SEA Games 31 by a 2-0 win against Timor Leste at Viet Tri Stadium, north of Hanoi on May 15, securing the first place in Group A with 10 points. Vietnam U23 players celebrate goals in match against Timor Leste on May 15. Photo: Anh Khoa The home team’s goals were scored by Van Tung, 53’, and Thanh Minh, 65. In all four matches of the group stage, the team was unable to score in the first half. In this game, Vietnam had fewer chances and more false passes than in the previous matches as Coach Park Hang-seo kept good footballers, including three overage players Hoang Duc, Tien Linh, and Captain Hung Dung for substitution. The South Korean tactician sent new faces to the match. “The players gave their best, and I am grateful to them for that. But from now on, the team has to improve its organization to be able to play … [Read more...] about SEA Games 31: Vietnam end group stage without conceding goals

Vietnam advanced to semi-finals with all four winning matches. Vietnam continued winning in the fourth and final match of the group stage at SEA Games 31 by a 2-0 win against Timor Leste at Viet Tri Stadium, north of Hanoi on May 15, securing the first place in Group A with 10 points without conceding a goal. Vietnam U23 players celebrate goals in match against Timor Leste on May 15. Photo: Anh Khoa The home team’s goals were scored by Van Tung, 53’, and Thanh Minh, 65. In all four matches of the group stage, the team were unable to score in the first half. In this game, Vietnam had fewer chances and more false passes than in the previous matches as Coach Park Hang-seo kept good footballers, including three overage players Hoang Duc, Tien Linh, and Captain Hung Dung for substitution. The South Korean tactician sent new faces to the match. “The players gave their best, and I am grateful to them for that. But from now on, the team have to improve its … [Read more...] about SEA Games 31: Vietnam end group stage without conceding a goal

AFD Executive Director Philippe Orliange (left) has recently paid a working visit to Vietnam. (Photo: VNA) Hanoi (VNA) – Responding to climate change, reducing greenhouse gas emissions and adapting to climate change impacts are among priorities of the French Development Agency (AFD)’s cooperation priorities in Vietnam, AFD Executive Director Philippe Orliange has affirmed. Such cooperation priorities completely match commitments made by Vietnamese Prime Minister Pham Minh Chinh at the 26th United Nations Climate Change Conference of the Parties ( COP26 ) in Glasgow, Scotland (the UK), last November, Orliange said in an interview with the press. The AFD Executive Director, who has recently paid a working visit to Vietnam, also lauded the Vietnamese government’s strong commitments at COP26. Under the cooperation strategy, the AFD has promoted in-depth discussions with Vietnam’s government agencies on policies regarding climate change impacts, during which … [Read more...] about Climate change response among AFD’s cooperation priorities in Vietnam