With policies to encourage investment in the innovative projects of small- and medium-sized enterprises and startups, Vietnam expects to welcome a strong wave of venture investment. " With such practical regulations and legal provisions, venture investment funds will certainly find a lot of opportunities in the favourable, transparent, and stable business climate of Vietnam." -Nguyen Chi Dung Minister of Planning and Investment The Vietnam Venture Summit has been launched this week at the Sheraton Hanoi Hotel. The event is the most obvious proof of the efforts of the Vietnamese government, especially the Ministry of Planning and Investment (MPI), to promote innovation in the country and in every business. With the participation of more than 100 large-scale international and regional funds like Vision Fund, Sequoia, and VinaCapital, the Vietnam Venture Summit builds on the initiatives the MPI has been deploying to facilitate innovation, including establishing the Vietnam … [Read more...] about Venture investment for innovation
Climate investment funds
Forum seeks to promote investment in green growth
Illustrative image (Source: VNA) HCM City (VNA) – Promoting investment in green growth was the focus of a forum on sustainable finance in Ho Chi Minh City on May 28. Participants at the event, who included experts from management agencies like the Ministry of Planning and Investment, the State Bank and the State Securities Commissions, commercials banks and international and domestic investment funds, discussed measures to push the implementation of green growth strategy targets. They also looked for ways to mobilise investment capital for climate change adaptation projects as Vietnam is facing increasing challenges from climate change. The International Financial Corporation (IFC) forecasted that from now until 2030, investment in climate-related projects in Vietnam could amount to 753 billion USD, including 59 billion USD in renewable energy and 80 billion USD in green works. Experts said that investment flow and funding from the private economic sector has a crucial role … [Read more...] about Forum seeks to promote investment in green growth
Support programme improves Bến Tre start-up climate
BẾN TRE- In three years since it launched the Đồng Khởi Start-ups and Enterprise Development Programme, Bến Tre Province has adopted many policies to support start-ups, leading to a rise in the number of businesses and jobs, and economic growth, officials told a review conference held recently. Since 2016, when the programme was instituted, 1,602 businesses have been established – around 64.08 per cent of the target by the end of 2020 – Phan Văn Mãi, standing deputy secretary of the Bến Tre Province Party Committee, said. Besides, 15,039 household businesses, 95 co-operatives and 605 co-operative groups have been set up, and hundreds of training classes have been held for dozens of thousands of start-up entrepreneurs and staff. Funding worth VNĐ1.76 trillion (US$75.8 million) has been provided to 1,554 projects and start-ups by the provincial start-up investment fund, the Adaptation in Mekong Delta project and banks. Around … [Read more...] about Support programme improves Bến Tre start-up climate
Securing the necessary funding for green growth
The Workshop on Capital Market for Green Growth At the Workshop on Capital Market for Green Growth yesterday (December 19), the Vietnam Green Growth Strategy fully embraced objectives like “traditional lifestyle” and “living in harmony with nature” in its green economy paradigm. The World Bank and other multilateral development banks have been warning that since August 2015, the implementation of the Sustainable Development Goals (SDGs) will require reinforcing funding and financing efforts from billions to trillions of dollars and that only combined funding and financing from the public and the private sector side can make the goals possible, with the private sector taking the lead. According to Marc de Bourcy, chargé d'affaires of the Luxembourg Embassy, Vietnam’s leadership is well aware that the implementation of the 17 SDGs and 115 specific targets depends in a large part on resource mobilisation and the effective and credible participation of … [Read more...] about Securing the necessary funding for green growth
US accused of blocking UN climate talks amid protests
An environmental activist wearing a face mask depicting US President Donald Trump takes part in a Bangkok demonstration AFP/Lillian SUWANRUMPHA The United States, despite withdrawing from a landmark accord aimed at curbing climate change, is stonewalling vital UN talks over how to fund poorer nations as they battle against global warming, sources told AFP Saturday (Sep 8). US President Donald Trump caused global outrage by withdrawing from the Paris Accord last year but his country is still committed to the deal's roadmap, giving Washington leverage over the Bangkok conference. The issue of how funds are made available to developing nations has emerged as a key sticking point at the talks, which have made little headway since they opened on Tuesday. The Paris deal - hailed as a game-changer when struck in 2015 - promised US$100 billion annually from 2020 to poor nations already coping with floods, heatwaves and rising sea levels exacerbated by climate change. But it left room for … [Read more...] about US accused of blocking UN climate talks amid protests
Foreign funds to help domestic e payment firms with competition
Support from foreign investors is expected to help domestic e-payment firms create new things and make a difference in the competition with foreign players in the domestic e-payments market. The domestic e-payment market will become more dynamic. Photo: theleader.vn OnOnPay and VNPay receive foreign investment Vietnam remains a promising e-payment market with the increasing number of Internet users and smart phone owners. According to the State Bank of Vietnam (SBV)’s survey, the number of transactions via mobile phones over 2017’s first nine months reached 90 million, up 93 per cent against 2016, and up 153 per cent against 2015. The number is expected to increase sharply in 2018. Investment fund Fenox Venture Capital from the US’ Silicon Valley has just confirmed pouring capital into domestic e-wallet application OnOnPay, but the value of the deal has not been revealed. The US fund also stated that this is its first investment in Vietnam. … [Read more...] about Foreign funds to help domestic e payment firms with competition
European Investment Bank provides funding for Hanoi Metro
The European Investment Bank (EIB) has announced it will provide $171 million for the construction of Line No. 3 on the Hanoi Metro network and the purchase of new trains for the route. Once operational, the 12.5-km line with 12 stations will transform public transport in Vietnam’s capital, improving travel time, reducing transport costs, and cutting pollution. Bank to support $171 million in finance for construction of Hanoi Metro Line No. 3 and train purchases. The increased backing from the EU’s long-term lending institution was confirmed in Hanoi by Mr. Jonathan Taylor, EIB’s Vice President responsible for Asia, on January 10.“New investment to improve sustainable public transport and to reduce harmful emissions is essential for world cities,” he said following a visit to the urban railway line. “Daily travel for hundreds of thousands of people will be transformed by expanding urban transport in the capital and the construction of this new … [Read more...] about European Investment Bank provides funding for Hanoi Metro
Cambodia invests USD70 million to improve road network
The loan agreements were signed by Aun Pornmoniroth, Senior Minister, Ministry of Economy and Finance of Cambodia, and Samiuela Tukuafu, ADB Country Director for Cambodia. The USD70 million Road Network Improvement Project will improve 147-kilometer of road for all-weather conditions within the provinces of Prey Veng, Siem Reap, and Svay Rieng. The project will support national efforts to make the transport sector more efficient, safe, and disaster-resilient and further enhance the capacity of the Ministry of Public Works and Transport to better manage road assets through improved planning of operations and maintenance. Peoples’ awareness and observation of road safety and regulations is expected to improve. The Provincial Water Supply and Sanitation Project will help expand and improve urban water supply and sanitation services and will benefit more than 209,000 people in Battambang, Kampong Cham, Siem Reap, and Sihanoukville. It will include the construction of water and waste … [Read more...] about Cambodia invests USD70 million to improve road network
Business community voices suggestions to improve business climate
The Vietnam Chamber of Commerce and Industry (VCCI) reported that it had passed 1,152 petitions from the business community to relevant State agencies as of the end of November 2017.Of these, 954 had received replies. The information was released in VCCI’s latest document on last year’s outcome of the implementation of the government’s Resolution 35/NQ-CP on business assistance and development by 2020.The report said the businesses’ concerns mostly revolved around administrative reform, including tax and customs procedures, and environmental inspection. Firms also complained that a number of inspections were not needed or were unnecessarily prolonged, causing a waste of time and money for enterprises. Many regulations were complicated and overlapped among different ministries and sectors.They asked the State to improve the performance of funds for the development of science-technology, and small- and medium-sized enterprises. They also called for a frequent … [Read more...] about Business community voices suggestions to improve business climate
Business community’ voices help improve climate
The information was released in VCCI’s latest document on last year’s outcome of the implementation of the Government’s Resolution 35/NQ-CP on business assistance and development by 2020. Photo for illustration The report said the businesses’ concerns mostly revolved around administrative reform, including tax and customs procedures, and environmental inspection. Firms also complained that a number of inspections were not needed or unnecessarily prolonged, causing waste of time and money for enterprises. Many regulations were complicated and overlapped among different ministries and sectors. They asked the State to improve the performance of funds for the development of science-technology, and small- and medium-sized enterprises. The also called for frequent review of conditional business sectors in line with the Investment Law. The business community voiced their hope for equal access to resources and business opportunities, and asked for the … [Read more...] about Business community’ voices help improve climate