VET Exclusive
SSI: Foreign tourist numbers to rise but airlines need time to recover
SSI Securities offers predictions on the future of Vietnam’s tourism and aviation sectors.
Business
Business environment gets boost
The Minister of Planning and Investment has issued an Action Plan on improving the business environment and national competitiveness in 2022. Specific tasks include reducing the number of procedures, time, cost, and risks facing businesses, developing an innovation ecosystem, and promoting international cooperation activities, among others.
Business
Construction industry difficulties to ease
According to Mr. Nguyen Quoc Hiep, Chairman of the Vietnam Association of Construction Contractors (VACC), Vietnam’s construction industry and contractors were heavily affected by Covid-19 in 2021. In 2022, however, the difficulties facing construction enterprises will be minimized and business activities in the construction industry improved.
VET Exclusive
European enterprises optimistic about business in Vietnam in 2022
European businesses in Vietnam posted solid results in 2021 and are positive about 2022.
Digital Biz
Real estate tech platform Proptech APLUS raises $2mln
Real estate tech platform Proptech APLUS announced successful fundraising on January 19 of $2 million, led by Asia Business Builder (ABBPE FundCo), in the first seed round. With the first Plus-Living model in Southeast Asia, APLUS previously raised $8 million from the Daiwa PI Partners fund in 2020. This year it will focus on developing a tech platform to optimize residents’ experience and the apartment operations system (Property Management Software - PMS) to help investors manage and grow rental revenue.
Business
PM asked to soon announce tourism re-opening
Six aviation enterprises and five of the country’s largest tourism enterprises, together with the Private Economic Development Research Board, have sent a request to the Prime Minister proposing he announce in February that international tourism is re-opening on March 31 or April 30. This will allow preparation time for tourism recovery.
Banking & Finance
Foreign investors strongly net sell on stock market in January
In line with not-overly-optimistic forecasts regarding foreign transactions on Vietnam’s stock market in 2022, foreign investors continued to strongly net sell in January, to the tune of 218 million shares worth VND3.4 trillion ($150.19 million). Foreign investors net sold more than VND60 trillion ($2.65 billion) in 2021 as a whole, after starting to net sell in 2020 when Covid-19 broke out.
VET Exclusive
Vietnam Today
Technology transfer to continue rising
By 2030, 1,000 pieces of foreign technology will have been transferred to Vietnam and 30 decoded and mastered. The number of FDI projects with technology transfer for domestic enterprises has increased 15 per cent each year, and 70 per cent of enterprises producing key products in priority industries invest in research and development infrastructure to serve the transfer and attraction of technology.
Investment
MoT to kick-off construction of 38 projects
The Ministry of Transport (MoT) plans to begin 38 projects and complete 30 others this year. It has been assigned an unprecedented medium-term public investment plan amounting to more than VND50 trillion ($2.2 billion).
Banking & Finance
Foreign investors strongly net sell on stock market in January
In line with not-overly-optimistic forecasts regarding foreign transactions on Vietnam’s stock market in 2022, foreign investors continued to strongly net sell in January, to the tune of 218 million shares worth VND3.4 trillion ($150.19 million). Foreign investors net sold more than VND60 trillion ($2.65 billion) in 2021 as a whole, after starting to net sell in 2020 when Covid-19 broke out.
Business
Business environment gets boost
The Minister of Planning and Investment has issued an Action Plan on improving the business environment and national competitiveness in 2022. Specific tasks include reducing the number of procedures, time, cost, and risks facing businesses, developing an innovation ecosystem, and promoting international cooperation activities, among others.
E-commerce thriving amid Covid-19
When Vietnam witnessed its first outbreak of Covid-19 in February 2020, there were concerns that the pandemic would have a major impact on the growth momentum of e-commerce both in the short term and in the 2021-2025 period. The reality, however, has been the opposite, with both online consumer and merchant numbers increasing sharply.
Society
Campaign to cut single-use plastics launched
The “From the Mountains to the Sea - Beat Plastic Pollution” campaign was officially launched on January 24 under a cooperative arrangement between the UN Development Program (UNDP) and the Vietnam Administration of Seas and Islands (VASI). The campaign calls for action to recycle, reuse, and reduce single-use plastics in Vietnam.
