Reasons behind slow equitization and divestment of State capital
Banking & Finance

Reasons behind slow equitization and divestment of State capital

According to analysts, the greatest obstacle facing the process of equitization and divestment of State capital relates to land and enterprise valuations. State-owned enterprises also lack an incentive to promote the equitization process. They are also operating profitably, thanks to monopolies in important areas of the economy, advantages in land and other resources, and receiving orders from the State.
Realtor association suggests measures to promote real estate development
Property

Realtor association suggests measures to promote real estate development

The Vietnam Association of Realtors (VARS) has warned that the policy of “closing the valve” on credit and corporate bonds will negatively affect real estate supply. It therefore recommends opening up capital to all industries, including real estate, and to have more regulations on businesses attracting foreign capital, investment products such as real estate investment trusts (REIT), real estate securitization, and saving funds for housing.
Startup True Platform raises $3.5mln in seed round
Digital Biz

Startup True Platform raises $3.5mln in seed round

Vietnamese tech startup True Platform announced on May 23 it had secured $3.5 million from January Capital, Alpha JWC Ventures, BEENEXT, the FPT Group, and other investors in its first fundraising round. This was one of the largest seed funding rounds ever into a tech startup in Southeast Asia. True Platform will use the funds to focus on developing and perfecting its product ecosystem and building two important product sets for the international market, which will be launched this year.

VET Exclusive

Vietnam Today

Accounting and Auditing Strategy to 2030 approved

Accounting and Auditing Strategy to 2030 approved

Deputy Prime Minister Le Minh Khai signed Decision No. 633/QD-TTg on May 23, approving the Accounting and Auditing Strategy to 2030. The strategy works to improve the quality of human resources and services in the sector, and targets that, by 2025, all enterprises and large-scale units will have their financial statements audited, regardless of their type of operations or form of ownership.

Investment

Urgent capital allocation needed to complete Ho Chi Minh Highway

Urgent capital allocation needed to complete Ho Chi Minh Highway

On May 24, while presenting a report on the implementation plan for the next phase of the Ho Chi Minh Highway project to the National Assembly, Minister of Transport Nguyen Van The said the phase has been deployed “sluggishly” for five years, from 2017 to 2021, reaching only 8 per cent of the target, and is nearly two years behind schedule. There is 171 km in the phase needing urgent capital allocation in order to be completed by 2025.

Banking & Finance

Reasons behind slow equitization and divestment of State capital

Reasons behind slow equitization and divestment of State capital

According to analysts, the greatest obstacle facing the process of equitization and divestment of State capital relates to land and enterprise valuations. State-owned enterprises also lack an incentive to promote the equitization process. They are also operating profitably, thanks to monopolies in important areas of the economy, advantages in land and other resources, and receiving orders from the State.

Business

Agricultural scientific research needs boost

Agricultural scientific research needs boost

Science, technology, and innovation have made significant contributions to agricultural development and resulted in Vietnam being among the top 15 exporters of agricultural products. Efficiency in agricultural scientific research in Vietnam is not high, however. Most crop varieties, high-yield livestock, machinery, equipment, and agricultural materials are imported. In addition, the country’s agricultural exports are still mostly raw materials. Scientists have proposed many solutions to overcome the situation.

Society

MoLISA proposes increase to minimum wage

MoLISA proposes increase to minimum wage

The Ministry of Labor, Invalids and Social Affairs (MoLISA) has proposed that the minimum wage be increased by an average of 6 per cent, effective from July 1. Due to Covid-19, it has been more than two years since the minimum wage was last adjusted, which is normally done annually, meaning it no longer guarantees a minimum standard of living.