Business
Innovation attracts large venture capital
HÀ NỘI — This year will be pivotal for the next stage of development of innovative enterprises and Việt Nam’s digital economy to attract investment capital.
The Việt Nam National Innovation Center (NIC) and the venture capital firm Do Ventures Việt Nam jointly released the Việt Nam Innovation and Tech Investment Report on Thursday.
This is the second year that the Việt Nam Innovation and Technology Investment Report has been released.
Speaking at the ceremony, Deputy Minister of Planning and Investment (MPI) Trần Duy Đông said innovation was an inevitable trend not only in Việt Nam but also around the world.
In recent years, Việt Nam had made drastic changes in mechanisms and policies for innovation, which is reflected in the Global Innovation Ranking (GII), where the country moved from 52nd place out of 141 countries and economies in 2015 to 44 out of 132 last year, holding the number one position in the group of 29 countries with the same income level.
Last year the economy faced many difficulties because of the COVID-19 pandemic, but it was also a record year for venture investment in Việt Nam with a total investment of $1.4 billion, an increase of 1.5 times compared to the previous record at $874 million in 2019, with the appearance of two new technology “unicorns” Momo and Sky Mavis.
NIC reported that the total number of investment funds participating in Việt Nam increased by 60 per cent, evenly distributed among countries.
Among them, the country with the most active investors last year was Singapore, followed by Việt Nam and the US.
Investment activities from Japan into Việt Nam are also gradually becoming more active after two years of slowing down.
Total transactions of deals over $10 million exceeded $1 billion, up 255 per cent over the previous year.
While the capital inflow into the seed round increased to a record high in both volume and value of the deal, the capital inflow into the rounds after series A has returned to pre-COVID-19 levels.
In particular, last year saw the appearance of five transactions worth over $100 million in the fields of payment, e-commerce and gaming.
With a large number of potential early-stage companies and a favourable business environment thanks to the close support of the Government, Việt Nam’s commercial ecosystem is ready to enter a more mature stage.
Lê Hoàng Uyên Vy, CEO of Do Ventures, said that the e-commerce and start-up ecosystem in Việt Nam had made impressive recovery steps last year thanks to the persistence of businesses, as well as timely support from the Government.
“With the current momentum of development, I believe that Vietnamese founders will continue to achieve success and make Việt Nam a remarkable technology hub in the region,” said Vy.
Deputy Minister Trần Duy Đông also affirmed that the domestic innovation and start-up ecosystem has recovered and reached a new height.
“This is good news and contributes to promote the growth of Việt Nam’s digital economy, a positive sign that we are on track to complete the target group of a digital economy that will contribute 30 per cent of GDP by 2030,” said Đông. —
Source: https://vietnamnews.vn/economy/1175211/innovation-attracts-large-venture-capital.html
Business
PM orders close coordination to remove obstables to property market
He asked ministries, agencies and People’s Committees of provinces and centrally-run cities to strictly follow the Government’s resolution dated March 11, 2023 on several measures to solve difficulties for and promote the safe, healthy and sustainable development of the market.
The Ministry of Construction (MoC), the Ministry of Finance (MoF), and the State Bank of Vietnam (SBV) must coordinate closely with each other and with relevant agencies to help businesses overcome difficulties and make the market revive.
Real estate enterprises must adjust the product structure and market segments as well as offer more reasonable prices; pay special attention to the development of social housing and houses for workers that are suitable to people’s income. Competent authorities need to review housing and real estate projects to work with enterprises on measures to handle legal problems, especially in projects with corporate bonds and bank loans, and capital mobilised from buyers, the Government leader stressed.
He also urged the MoC to soon complete a project on building at least one million social housing apartments for low-income earners and workers in industrial parks in the 2021-2030 period.
The MoF was asked to carry out harmonious, reasonable and effective measures to support enterprises to restructure bond debts, interest rates, payment terms and conditions in accordance with regulations.
PM Chinh also urged the central bank to soon implement the credit programme worth around 120 trillion VND (5.1 billion USD) to assist commercial banks in providing perferential loans for investors and buyers of projects building social housing and houses for workers, and reconstructing old apartment buildings.
Local People’s Committees were required to soon approve master plans, as well as land use plans and housing development plans and programmes for five years and annually; and organise meetings with each enterprise to help them deal with difficulties.
Source: Nhân Dân
Source: https://e.nhipcaudautu.vn/real-estate/pm-orders-close-coordination-to-remove-obstables-to-property-market-3351578/
Business
Masan Group draws down first tranche of its $650 mln syndicated loan
The Vietnamese conglomerate aims to fully utilize the 2023 Syndicated Loan via a greenshoe option of $275 million later in the year. The transaction was arranged and underwritten by BNP Paribas, Credit Suisse, HSBC, Standard Chartered Bank, and United Overseas Bank.
Despite recent volatility in the global banking market, Masan was able to fully draw down the underwritten portion of the 2023 Syndicated Loan, ensuring a healthy financial profile. The loan is priced at 3.5% over the U.S Dollar Secured Overnight Financing Rate, or approximately 8.0% per annum.
With a 5-year tenor, the 2023 Syndicated Loan will extend Masan’s debt maturity profile and strengthen Masan’s liquidity ratios. As interest rates decline and the capital market stabilizes, management will continue to optimize Masan’s balance sheet, reduce interest expense, and deleverage via strategic corporate actions.
In a challenging macro environment, the ability to generate stable cash flows from the manufacturing and retailing consumer staple products (such as groceries, instant noodles, seasonings, etc.) businesses and proven track record of accessing multiple capital markets will allow the Company to win market share and invest in future growth.
With its cash position, Masan is well positioned to continue investing in new innovations as well as expanding the consumer-retail platform while maintaining a healthy balance sheet.
Source: https://e.nhipcaudautu.vn/companies/masan-group-draws-down-first-tranche-of-its-650-mln-syndicated-loan-3351607/
Vietnam – Singapore Industrial Park J.V. Co. (VSIP) on Saturday signed memoranda of understanding (MOU) with nine Vietnamese provinces to develop smart and sustainable industrial parks (IPs).
VSIP is a joint venture between Becamex IDC Corporation, under the People’s Committee of Binh Duong, just outside Ho Chi Minh City, and Sembcorp Development Ltd., a wholly-owned subsidiary of Singapore’s Sembcorp Industries, a leading energy and urban solution provider.
The signing ceremony was part of the ‘Binh Duong: Initiation – Connection – New Development’ program, attended by Deputy Prime Minister Le Minh Khai, leaders of ministries, agencies and localities, and hundreds of investors.
It was also an expansion of a broader MOU between Becamex and Sembcorp Development inked during Vietnamese Prime Minister Pham Minh Chinh’s state visit to Singapore early last month.
Smart and sustainable IPs will be considered in nine provinces, including Binh Phuoc, Tay Ninh, Binh Thuan, Khanh Hoa, Thua Thien-Hue, Ha Tinh, Thanh Hoa, Thai Binh, and Nam Dinh, based on the VSIP model in Binh Duong.
Deputy PM Khai hailed the green industrial park model, the association of industrial development with urban areas and services, and the synchronicity of traffic and social infrastructure in Binh Duong Province.
This helps Binh Duong, together with Ho Chi Minh City and Dong Nai and Ba Ria – Vung Tau Provinces, become key pillars of the southern key economic zone and contribute significantly to the state budget and Vietnam’s development.
The deputy prime minister asked the nine provinces to learn from Binh Duong’s experience in developing Vietnam-Singapore Industrial Parks in the coming time, especially in site clearance to prevent complaints and lawsuits and ensure benefits for enterprises, the state, and local residents.
Vo Van Minh, chairman of the Binh Duong People’s Committee, said the province would cooperate closely with the nine provinces and accompany investors and enterprises to develop industrial park projects soon.
They will jointly mull over the conversion from IPs in association with urban areas and services to smart service urban areas, enhance the application of science and technology to increase the added values of products, and bring practical benefits to enterprises and residents.
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| Leaders of Binh Duong Province and nine other provinces and Singaporean partners sign memoranda of understanding to develop more VSIPs in Vietnam. Photo: Ba Son / Tuoi Tre |
Earlier on the same day, Deputy PM Khai and his governmental delegation visited the VSIP 1 in Thuan An City, Binh Duong Province. This is the first VSIP which was developed in 1996 and covers an area of 500 hectares.
VSIP last month obtained approval from the Vietnamese government to set up its second IP in the north-central province of Nghe An, or its 13th IP in Vietnam.
Among the 12 operating VSIPs, three are located in Binh Duong and the remaining facilities are in Hai Phong, Hai Duong, Bac Ninh, Quang Ngai, and Can Tho, among others.
These industrial parks, with a total area of more than 10,000 hectares, have attracted about US$18.4 billion in investment from 882 investors from 30 countries and territories, and created jobs for around 288,000 workers.
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| Vietnamese Deputy Prime Minister Le Minh Khai (first row, L) and delegates listen to an introduction on the first VSIP in Thuan An City, Binh Duong Province on March 25, 2023. Photo: Q.T. / Tuoi Tre |
The Binh Duong People’s Committee on Saturday also handed over investment certificates to enterprises.
In the year to March 15, the province attracted $437 million in foreign direct investment, raising the total foreign investment so far in the province to $39.7 billion, poured into nearly 4,100 projects.
The province also concluded cooperation agreements with large domestic firms, such as Deo Ca, Sungroup and FPT, to develop infrastructure, hospitality tourism, and digital transformation.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Vietnam – Singapore Industrial Park J.V. Co. (VSIP) on Saturday signed memoranda of understanding (MOU) with nine Vietnamese provinces to develop smart and sustainable industrial parks (IPs).
VSIP is a joint venture between Becamex IDC Corporation, under the People’s Committee of Binh Duong, just outside Ho Chi Minh City, and Sembcorp Development Ltd., a wholly-owned subsidiary of Singapore’s Sembcorp Industries, a leading energy and urban solution provider.
The signing ceremony was part of the ‘Binh Duong: Initiation – Connection – New Development’ program, attended by Deputy Prime Minister Le Minh Khai, leaders of ministries, agencies and localities, and hundreds of investors.
It was also an expansion of a broader MOU between Becamex and Sembcorp Development inked during Vietnamese Prime Minister Pham Minh Chinh’s state visit to Singapore early last month.
Smart and sustainable IPs will be considered in nine provinces, including Binh Phuoc, Tay Ninh, Binh Thuan, Khanh Hoa, Thua Thien-Hue, Ha Tinh, Thanh Hoa, Thai Binh, and Nam Dinh, based on the VSIP model in Binh Duong.
Deputy PM Khai hailed the green industrial park model, the association of industrial development with urban areas and services, and the synchronicity of traffic and social infrastructure in Binh Duong Province.
This helps Binh Duong, together with Ho Chi Minh City and Dong Nai and Ba Ria – Vung Tau Provinces, become key pillars of the southern key economic zone and contribute significantly to the state budget and Vietnam’s development.
The deputy prime minister asked the nine provinces to learn from Binh Duong’s experience in developing Vietnam-Singapore Industrial Parks in the coming time, especially in site clearance to prevent complaints and lawsuits and ensure benefits for enterprises, the state, and local residents.
Vo Van Minh, chairman of the Binh Duong People’s Committee, said the province would cooperate closely with the nine provinces and accompany investors and enterprises to develop industrial park projects soon.
They will jointly mull over the conversion from IPs in association with urban areas and services to smart service urban areas, enhance the application of science and technology to increase the added values of products, and bring practical benefits to enterprises and residents.
|
|
| Leaders of Binh Duong Province and nine other provinces and Singaporean partners sign memoranda of understanding to develop more VSIPs in Vietnam. Photo: Ba Son / Tuoi Tre |
Earlier on the same day, Deputy PM Khai and his governmental delegation visited the VSIP 1 in Thuan An City, Binh Duong Province. This is the first VSIP which was developed in 1996 and covers an area of 500 hectares.
VSIP last month obtained approval from the Vietnamese government to set up its second IP in the north-central province of Nghe An, or its 13th IP in Vietnam.
Among the 12 operating VSIPs, three are located in Binh Duong and the remaining facilities are in Hai Phong, Hai Duong, Bac Ninh, Quang Ngai, and Can Tho, among others.
These industrial parks, with a total area of more than 10,000 hectares, have attracted about US$18.4 billion in investment from 882 investors from 30 countries and territories, and created jobs for around 288,000 workers.
|
|
| Vietnamese Deputy Prime Minister Le Minh Khai (first row, L) and delegates listen to an introduction on the first VSIP in Thuan An City, Binh Duong Province on March 25, 2023. Photo: Q.T. / Tuoi Tre |
The Binh Duong People’s Committee on Saturday also handed over investment certificates to enterprises.
In the year to March 15, the province attracted $437 million in foreign direct investment, raising the total foreign investment so far in the province to $39.7 billion, poured into nearly 4,100 projects.
The province also concluded cooperation agreements with large domestic firms, such as Deo Ca, Sungroup and FPT, to develop infrastructure, hospitality tourism, and digital transformation.
Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!
Source: https://tuoitrenews.vn/news/business/20230327/vsip-joins-hands-with-9-vietnamese-provinces-to-develop-smart-ips/72269.html
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