Vietnam innovation network programme launched
Vietnam innovation network programme launchedThe Programme of Connecting Vietnam Innovation Network 2018, which gathered hundreds of talented Vietnamese in the fields of science and technology, was launched in Hanoi on August 19. The Programme of Connecting Vietnam Innovation Network 2018 was launched in Hanoi on August 19. The event was jointly held by the Ministry of Planning and Investment, the Ministry of Science and Technology, the Ministry of Foreign Affairs, and the Ministry of Education and Training. Currently, the ministry is working with relevant ministries and sectors to build a national strategy on industry 4.0, which comprises the establishment of innovation centres, and mobilisation of experts and scientists, he said, adding that the innovation network initiative has lured the participation of more than 100 overseas Vietnamese scientists so far. The launching ceremony was followed by a dialogue on connection of science and technology community, and policies on innovation network connection in Vietnam.-VNA
Source:VietNamNet News
August 19, 2018 11:37 UTC
Vietnamese startups struggle to seek capital
Vietnamese startups struggle to seek capitalVietNamNet Bridge - Consultants say that even startups with high capability and good business ideas are finding it difficult to call for investment. According to TechInAsia, in 2016, startups in South East Asia attracted total investment capital of $2.6 billion. Sixty percent of startups have initial investment capital of less than VND1 billion, a modest amount of capital. Regarding capital sources for startups, consultants named venture funds, angel investors and private investors. In fact, there are many examples of startups gaining big successes overseas though they could not call for big capital.
Source:VietNamNet News
August 19, 2018 09:22 UTC
PM pledges support for overseas Vietnamese scientists
PM pledges support for overseas Vietnamese scientistsPrime Minister Nguyen Xuan Phuc has promised to create favourable conditions for overseas Vietnamese scientists to participate in scientific and technological projects at home so that they can make contributions to the country’s socio-economic development. In a meeting on August 19 with overseas Vietnamese talents in science and technology who came home to attend Vietnam’s innovation network programme from August 18-24, Prime Minister Phuc thanked the scientists for their interest in developing science and technology in the homeland. The Government will focus on cooperation, investment, technology transfer, and human resource training, and continue developing innovation eco-system to ensure that overseas Vietnamese scientists can contribute to the nation’s development, he said. Pledging to accompany the government in the era of industry 4.0, which converges labourers 4.0 and culture 4.0, the scientists said that they want to coordinate with domestic colleagues in specific projects and programmes. More policies should be put in place to lure additional overseas Vietnamese intellects to devote their talent to the country, they said.-VNA
Source:VietNamNet News
August 19, 2018 08:48 UTC
Plan for new era fosters M&A market
Rick Marchese - Representative, Alliance of M&A Advisory GlobalThe M&A market in Vietnam is growing very quickly and becoming more mature. M&A transactions are mostly based on the availability of capital in the market, so I think investors will need to become more comfortable with the stock market. Right now, the M&A market is picking up, so we can expect it to go down again one day. This is because the market can go down and when it does, people are tighter with their money and the M&A market will probably slow down. I think Vietnamese companies can also have more access to European consumers, which would be a great development.
Source:VietNamNet News
August 19, 2018 07:52 UTC
North and central regions grapple with devastating floods
North and central regions grapple with devastating floodsSevere flooding triggered by tropical storm Bebinca has caused extensive loses to life and property in many localities throughout the northern and central regions. Heavy rains and floods also damaged 26 houses, with one collapsing and six others needing to be evacuated. By that time, storm Bebinca had claimed six lives, destroyed 16 houses and damaged many hectares of rice and subsidiary crops in Ky Son district, Central Nghe An province. Heavy downpours from tropical storm Bebinca have added to upstream floodwaters flowing to Central Nghe An province in recent days inundating many mountainous districts of Nghe An. Mountainous districts of Quy Hop, Quy Chau, Tan Ky, Con Cuong, Tuong Duong and Ky Son continue to be beset by heavy rains and flooding.
Source:VietNamNet News
August 19, 2018 07:30 UTC
Olympic talent shares his passion for physics
Olympic talent shares his passion for physicsNguyen Ngoc Long from the central province of Thanh Hoa is one of the two Vietnamese gold medalists at the 49th International Physics Olympiad (IPhO) held in Lisbon, Portugal in late July. This year, more than 400 students from 90 countries attended the annual international physics competition for high school students. In May 2018, Long also won a gold medal at the Asian Physics Olympiad and first prize at the National Physics Competition 2018. Nguyễn Ngọc Long won a gold medal at the International Physics Olympiad 2018. With the gold medal at IPhO, you will be admitted to the University of Science at home.
Source:VietNamNet News
August 19, 2018 07:30 UTC
Investors still cannot make profits from hi-tech agriculture production
Investors still cannot make profits from hi-tech agriculture productionVietNamNet Bridge - Hi-tech agricultural production requires huge capital and long-term investments, while the risks are high and the policies are not encouraging. Hi-tech agricultural production requires huge capital and long-term investments, while the risks are high and the policies are not encouraging. He went on to say that the entire agriculture production value chain is still small because Vietnam has to spend dollars to import input materials. In principle, the state should encourage investors in the hi-tech agriculture sector by offering incentives. The lack of land fund and land fragmentation has been mentioned recently by analysts when talking about the obstacles to hi-tech agriculture production.
Source:VietNamNet News
August 19, 2018 06:11 UTC
HCM City condo market begins to recover
HCM City condo market begins to recoverCondominiums remain the best bet for people living in big cities thanks to their affordable prices, and not surprisingly the HCM City apartment market is showing signs of recovering after the slowdown caused by the Carina Plaza fire at the beginning of this year, insiders said. Not only the primary market but also the secondary market is witnessing a recovery, which is clearly shown through rising prices. The Ministry of Construction reported that condo prices rose by 1.4% quarter-on-quarter in the second quarter of this year. CBRE Vietnam said in the second quarter, 6,200 condos were sold, down 36% from the previous quarter. The secondary market too saw an uptrend in the second quarter with a 1.7% rise in prices quarter-on-quarter against an average quarterly growth rate of 0.5% over the 2017-18 period, it added.
Source:VietNamNet News
August 19, 2018 03:22 UTC
Banks going the fintech M&A route
Banks going the fintech M&A routeVietnamese fintech companies can expect a raft of foreign financial institutions seeking a relationship with them, as the latter have found this route a promising one to access the underbanked population of the country. “They’re all looking at and studying opportunities for investment in local fintech companies,” Choi confirmed. Since then, local fintech has opened to welcome the next generation of fintech players like Weezi Digital, KIU, Wecash, Enablecode, Instant.vn, and Tradle, who were announced as winners of the recent Fintech Challenge Vietnam competition. Local banks want a piece of them as part of their digital banking strategy growth, evident in the co-operation between these winners and local banks like BIDV, Vietnam International Bank (VIB),TPBank, VietinBank, Vietcom- bank, and VPBank. Foreign banks want to get to know their apps as well and use them to tap into the underbanked population.
Source:VietNamNet News
August 19, 2018 03:22 UTC
Unclear labelling of goods upsets buyers
Unclear labelling of goods upsets buyersA number of convenience stores advertising their brands as “made in Korea” or “made in Japan” have been fined for ambiguous information on the origin of their goods, making many Vietnamese consumers feel confused and nervous. With more than 100 stores of various brands concentrated in crowded streets nationwide, these stores has made the habits of Vietnamese consumers gradually change. Other chains, including Miniso and Daiso Japan, were also found to show signs of unclear origins of their goods. Specifically, many of Daiso Japan’s goods are of Chinese origin, but not labelled in Vietnamese, and do not carry conformity to regulation (CR) stamps in accordance with Vietnamese legal regulations on goods labelling. Reflections of consumersMany Vietnamese consumers have publicly expressed their opinions on the misleading information of some brands’ advertisements.
Source:VietNamNet News
August 19, 2018 03:11 UTC
Asian Games 2018 officially kicks off in Jakarta
Asian Games 2018 officially kicks off in JakartaThe Asian Games (ASIAD) 2018 was declared open by Indonesian President Joko Widodo late on August 18 during a colourful opening ceremony in Jakarta. Right after the opening ceremony, a number of Vietnamese athletes in the sports of Taekwondo, Wushu, swimming, fencing and shooting, began competing at the Games. The hosts Indonesia participated in the ASIAD 2018 with 951 athletes, the largest number at this year’s event. The opening ceremony features cultural performances and pyrotechnics. Vietnam’s sports delegation to the gameIndonesia's natural landscape appears at the opening ceremony.
Source:VietNamNet News
August 19, 2018 03:00 UTC
Public debts rise, Ministry warns of ODA trap
Public debts rise, Ministry warns of ODA trapVietNamNet Bridge - The interest rates offered by China are twice as much as other lenders, while the lending conditions are less preferential. The ministry pointed out that Chinese preferential loans, just like export credits, are conditional loans (Chinese corporations are the contractors for projects) with conditions less favorable than loans from other donors. Chinese loans have an interest rate of 3 percent per annum on average, higher than the 0.4-1.2 percent offered by Japan, 0-2 percent by South Korea and 1.75 percent by India. Chinese preferential loans are provided via China Eximbank. Regarding the investment efficiency of projects using Chinese loans, contractors and equipment, the report says most projects proceed slowly, quality is low, and real investment capital is always higher than the estimates.
Source:VietNamNet News
August 19, 2018 02:37 UTC
Major losses at state-owned firms urge withdraw of state capital
Major losses at state-owned firms urge withdraw of state capitalVietnam National Chemical Group (Vinachem) Chairman Nguyen Phu Cuong confirmed last week that the firm was making big losses in a meeting with the State Audit of Vietnam. Vinachem, like the troubled shipbuilder Vinashin and shipping lines Vinalines, shows a disappointing performance history by state-owned firms despite benefiting from incentives. Losses in the billions and trillions of dong are familiar to the public when referring to losses at state-owned firms or projects, despite the country's GDP per capita currently stands at just VND40 million (USD1,762). And the leaders of these companies might not have thought too much about the losses as the capital is from the state budget but not from their pocket. This situation means that the withdrawal of state capital from many sectors is now an urgent task that should be done to regain public confidence.
Source:VietNamNet News
August 19, 2018 02:03 UTC
Engineer gives free training to young people
Engineer gives free training to young peopleVietNamNet Bridge – Le Van Liem was born into a poor family and had to quit school in the 9th grade to earn a living. Le Van Liem (right) teaches a trainee at his workshop. Once Liem opened a motorcycle workshop, he studied one last skill – welding, to repair simple tools for local residents. Over the past 10 years, Liem has given free training to nearly 50 young people. Liem’s work also helped promote young people’s determination to start their own enterprises, said Diep.
Source:VietNamNet News
August 18, 2018 23:26 UTC
Transport ministry works on high-speed rail proposal
Transport ministry works on high-speed rail proposalThe Ministry of Transport plans to submit a pre-feasibility study report on a high-speed north-south railway project to the government this year for consideration. They have also suggested railway construction experiences of developed countries as well as raising capital for the Ministry of Transport. Minister of Transport Nguyen Van The asked the consortium to quickly complete the pre-feasibility study report in August and work with HCM City, Nghe An and Danang on the station position and direction. The Ministry of Transport will submit the project’s pre-feasibility study report to the government for consideration this year. Vietnam has been talking about the North-South Express Railway for years, but it has been delayed due to high costs.
Source:VietNamNet News
August 18, 2018 18:22 UTC