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Investors pour money into startups, promote unicorns

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Vietnam tops the list of destinations for venture investors for the next 12 months.

Investors pour money into startups, promote unicorns

Beta Cinemas, which has sought investment capital, had to suspend operation for a few weeks because of Covid-19. The cinema chain called for investment capital in the first half of 2019 and saw results at the end of the year, but it became nearly impossible to implement the plan.

Finally, in June 2020, Daiwa PI Partners signed an agreement on investing $8 million in Beta Cinemas. With the agreement, Beta Media was valued at VND1 trillion.

Beta Media’s CEO Bui Quang Minh said Japanese investors are extremely careful about every detail and are very strict in matters of principle.

According to Minh, it takes more time to deal with Japanese investors than investors of other nationalities. US investment funds, for example, make decisions more quickly, which is attributed to the difference in risk acceptance and the principles pursued by investment funds.

Nguyen Xuan Dong, co-founder of Ecomobi, said startups need to prepare documents for different situations. The meetings with investors may last 10 minutes, two or three hours, or just 30 seconds in an elevator, so startups need to be ready all the time and need to be able to brief their situation concisely.

Despite a tough year in 2020, Vietnam’s innovative startup ecosystem is still on the rise. There are 100 venture investment funds, including 20 Vietnamese funds, according to the Ministry of Science and Technology.

Foreign and Vietnamese funds are joining forces to invest in Vietnam’s startups, which is a great opportunity for startups to call for capital. The total value of investment deals in Vietnam’s startups in 2020 reached $290.43 million, and 56 investment deals were reported.

Nurturing unicorns

“It’s now the time for investors to set foot in the Vietnamese market,” said Le Han Hue Tam from Nextrans in Vietnam.

Many investment fund directors have said they expect to see a shift in the capital flow direction in the time to come. Vietnam will replace Indonesia to become the next destination for foreign investment funds.

Hoang Thi Kim Dung from Genesia Ventures in Vietnam commented that investors have high confidence in Vietnam’s innovative startup ecosystem and believe that Vietnam will become a significant investment market in the region and the world.

Eddie Thai, of 500 Startups, said venture funds choose Vietnam instead of other emerging markets because Vietnam is a young and fast growing economy with technology indexes (such as internet and smartphone users) at high levels. The first-generation founders have succeeded, which has proved the potential of Vietnam’s market and its professionals.

Despite a tough year in 2020, Vietnam’s innovative startup ecosystem is still on the rise. There are 100 venture investment funds, including 20 Vietnamese funds, according to the Ministry of Science and Technology.

Vietnam’s advantages lie in the labor force, energy, resources and growth potential of the market.

Le Diep Kieu Trang, co-founder of the Alabaster fund, noted that Indonesia has six unicorns, while Vietnam only has one, VNG, though it has great potential, including talented engineers and more favorable logistics conditions. She believes that Vietnam’s development is still not commensurate to its potential and there is still much space for Vietnam to further develop.

Nguyen Manh Dung from CyberAgent Vietnam said Vietnam is now the destination for many investors. He believes that Indonesia is witnessing overly hot development with stiff competition and high risks. So, Vietnam is at a point when early investors have many opportunities.

“Vietnam is the next excellent destination. There are many reasons for investors to come to Vietnam right now, including the vast market with nearly 100 million people,” Dung said.

He went on to say that while it was only a dream for Vietnam’s startups to call for over $15 million worth of capital two to three years ago, it is now realistic. The fund will seek opportunities to invest in technology startups that develop products and services that bring convenience and improve consumers’ living standards.

10 technology unicorns by 2030

Do Ventures’ survey found that Vietnam tops the list of destination points for investors for the next 12 months. The excitement about making investments in Vietnam is still at a high level. It is expected that 117-200 deals will be made in the next 12 months. Around 80 percent of investors plan to make one to five deals. Education, healthcare and finance are the business fields that catch investors’ attention the most.

The government of Vietnam has set the goals of having 10 technology unicorns by 2030 and becoming a technology startup center in Southeast Asia.

Hoang Thi Kim Dung from Genesia Ventures in Vietnam said investors consider Vietnam the top priority market in Southeast Asia in 2021.

Meanwhile, Nguyen Thai Hai Van, CEO of Grab Vietnam, believes that at this time, calling for capital is one of the big challenges Vietnam’s startups are facing.

The challenges are not a lack of capital or investors’ lack of attention to the Vietnamese market. In 2019, the total investment capital in Vietnam’s technology startups even exceeded Singapore.

The real challenge lies in the capability and vision of startup founders. Vietnamese are strong in seeking ideas but weak in the implementation of the ideas. 

Duy Anh

Source: https://vietnamnet.vn/en/feature/investors-pour-money-into-startups-promote-unicorns-713742.html

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Some coastal hotels report full occupancy as tourists are on the rise

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Tourists play outdoor games at a resort. Many hotels in Ba Ria-Vung Tau Province have reported full occupancy as the number of tourists is on the rise – PHOTO: LDO

HCMC – Many hotels in Ba Ria-Vung Tau Province have reported full occupancy as the number of tourists is on the rise, though the holidays of April 30 and May 1 are still a while away, signaling good news for the tourism sector.

Nguyen Van Tuan, manager of Long Hai Hotel in Ba Ria-Vung Tau Province, told Lao Dong Online that over the past one year, the hotel saw few guests and its highest occupancy rate at a mere 20%. However, for some days last week, the number of tourists who booked rooms at the hotel surged, with the occupancy rate at 90%.

For April 17 and 18, the hotel is fully booked, and it is the first time since the coronavirus pandemic that the hotel is seeing some 100 rooms in total fully booked, Tuan said, adding that the hotel was fully booked three weeks ago for the Reunification Day, April 30.

Last weekend, many guests fully booked rooms at Vietsovpetro Ho Tram, said a representative of the resort.

Many hotels at sea tourist destinations near HCMC such as Ho Tram, Long Hai, Vung Tau and Mui Ne are seeing the number of guests soar on weekends.

Do Van Thuc, deputy director of Dat Viet Tour, said that the firm had received rising tour bookings on weekends.

Recently, Dat Viet Tour has been seeing an average 1,500 guests book weekend tours to the sea each week, some 200 kilometers from HCMC, he said.

Apart from this, since March, when the coronavirus outbreak was brought under control in Vietnam, Alo Limo, a transport firm, has become busier on weekends, said Le Gia Thanh Tam, a representative of Alo Limo.

Over the past few weeks, each week has seen some 10-15 groups of tourists book limousines for their trips, mainly to Dalat, Phan Thiet and Vung Tau, Tam said.

Source: https://english.thesaigontimes.vn/81445/some-coastal-hotels-report-full-occupancy-as-tourists-are-on-the-rise.html

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Q2 Thao Dien welcomes residents with full amenities

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Q2 Thao Dien is developed by Frasers Property Vietnam and An Duong Thao Dien Real Estate Trade Joint Stock Company, the project will be ready for handover by the end of April 2021. All apartments, office and commercial areas are completed and ready to welcome owners and businesses to move in.

High-end amenities at Q2 Thao Dien.

“Receiving homes with full amenities and service without waiting for a long time is a privilege offered to residents only at Q2 Thao Dien. A new home furnished with high-end amenities gives residents a fulfilled experience and absolute satisfaction”, said Representatives of Frasers Property Vietnam.

Just a-few-steps away from the apartment complex is the premium and stylish [email protected] office tower with a modern design, open space, high ceilings, and gorgeous river views. This architecture gives tenants space to create a unique and inspiring duplex workspace design. This tower is also fully equipped with meeting and event rooms, training/ education areas, coffee space, and professional management services. With numerous outstanding appeals, [email protected] meets the demands of an ideal working space for businesses, especially, a trend of workspace decentralisation to move from the central business districts to nearby dynamic areas.

Q2Terrace is now filled with famous brands, includes Annam Gourmet Market, Dinh Phong – The Butcher & Seafood, Wayne’s Coffee, Peekaboo Café, and Beer Studio, which will also be a place to dine, to meet and to shop, for professionals working at the [email protected]
 

Source: https://english.thesaigontimes.vn/81441/q2-thao-dien-welcomes-residents-with-full-amenities.html

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Vietnam’s Bamboo Airways plans to raise $200 million in U.S. IPO: chairman

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HANOI — Vietnam’s Bamboo Airways plans to raise up to $200 million in an initial public offering in the United States, potentially securing a market capitalisation of up to $4 billion, its chairman Trinh Van Quyet said on Wednesday.

Bamboo Airways, owned by property and leisure company FLC Group, plans to offer a 5%-7% stake in the IPO, which it expects in the third quarter of this year, Quyet told Reuters in an interview.

“The IPO will be part of our efforts to expand our services globally,” Quyet said, adding that Bamboo Airways has been working with an international auditing firm for the potential offering on the New York Stock Exchange.

The company said last month it planned to list its shares on a local stock exchange in the third quarter, but Quyet said on Wednesday that was now “a backup plan, depending on market conditions”.

Quyet said the airline will increase its fleet to 40 aircraft by the end of this year, from the current 30, adding two Boeing 787-9 Dreamliners would be among the new planes.

He said the airline wanted to launch flights to new destinations including the U.S., Australia, Germany, Japan and the United Kingdom this year if the COVID-19 pandemic situation improved.

“We will start conducting chartered flights to the U.S. in July and target the launch of non-stop commercial flights between Ho Chi Minh City and San Francisco in September, with an initial frequency of three flights per week,” Quyet said.

Bamboo Airways, which made its maiden flight in January 2019, is targeting a 25% rise in pretax profit to 500 billion dong this year he added.

Source: https://tuoitrenews.vn/news/business/20210415/exclusive-vietnam-s-bamboo-airways-plans-to-raise-200-million-in-us-ipo-chairman/60370.html

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