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Vietnam's emerging startup scene is proving to be a case of right place, right time for local and international venture capital funds. Eleven “rising star” startups in Southeast Asia in September converged at the “500 Startups Demo Day” in Ho Chi Minh City to spotlight the dynamic technology landscape in Vietnam and broader Southeast Asia. “There’s more hype about Vietnam’s tech scene now than ever before, as this is an exciting time for Vietnam overall,” said Mr. Eddie Thai, General Partner at 500 Startups Vietnam. “Vietnam is fast becoming an attractive destination for local and international venture capital funds, who are hoping to capture the growing consumer opportunities and leverage the Vietnamese entrepreneurial spirit.” Rising appetite Vietnam’s startup sector is growing at a rapid clip despite the global economic slump and is closing the gap with regional leaders. In only two years, it has made a big leap … [Read more...] about Startups catching the eye

  The Empire Group could not pay annuity for its CocoBay condotel buyers since next year. Photo vneconomy.vn HÀ NỘI – Đà Nẵng authorities need to carefully review the offer to convert the Cocobay Đà Nẵng condotel project into apartments as it could harm the city’s economic development plan, experts have said. The project developer, Thành Đô Investment Development and Construction JSC (Empire Group), had guaranteed to pay 12 per cent profit on the value of investors' condotel purchases from January 1, 2020, but has since announced it cannot fulfil this commitment due to financial woes. Condotels are often sold to investors and then leased back to the developer or an operating firm to manage rentals to holidaymakers, which is where the 12 per cent profit was supposed to come from. A lack of regulations on condotel development and ownership has also harmed the project. The … [Read more...] about Tough decisions for Da Nang over Cocobay project