[Jan 13 - 19, 2019] Vietnam Weekly Industrial & Logistics Highlight
Warburg Pincus invests in Vietnamese e-wallet service provider
Warburg Pincus, a private equity firm headquartered in the United States, today officially invested in Vietnamese ewallet service provider MoMo. Earlier, Momo was backed with combined investment packages of US$28 million from Standard Chartered Private Equity and Goldman Sachs in March 2016. This means the investment amount contributed by Warburg Pincus is equal to or higher than this figure.
Vietnam urged to become a factory for the world
Việt Nam must become a factory for the world and foster a good investment environment for all economic sectors in order to develop production and boost growth. This statement was made by Prime Minister Nguyễn Xuân Phúc at a meeting of the Ministry of Industry and Trade held in Hà Nội on Thursday.
Foreign firms ready to leap on logistics growth
Increasing investment by foreign services providers is transforming Vietnam’s transport and logistics industries, with enforcement of free trade agreements expected to promote further cross-border trade.
Swedish furniture giant IKEA eyes Vietnam entry
Swedish furniture retail giant IKEA plans to invest an estimated $450 million to set up a retail system and warehouses in Hanoi. They will serve the entire Southeast Asian market. The corporation is in negotiations to set up shop in Vietnam. IKEA has eyed entry into Vietnam since 2015, when its executives revealed their intention to do so within five years.
Watsons launches the first store in Vietnam
Watsons, the leading health and beauty brand in Asia and Eastern Europe, is opening its first store at Ho Chi Minh City's Bitexco Tower on January 17, marking its official entry to the Vietnamese market.
Amazon offers Vietnamese products route to global market
Amazon is collaborating with Vietnam’s trade ministry to sell the country’s products on its system globally. Vu Ba Phu, director of the Ministry of Industry and Trade’s Trade Promotion Agency, said while announcing news of the collaboration that the U.S. e-commerce company would help especially small and medium-sized enterprises (SMEs) develop their brands on its website.
Vietnam central province to get $600-million port
The My Thuy International Seaport will be built at an estimated VND14 trillion ($601.92 million) in central province of Quang Tri. The 685-ha port will have a draft of 17.5 meters, 10 berths and be able to accommodate vessels of 100,000 deadweight tons.
Vietnam Makes Pitch as an Investor Safe Haven in Trade War
A red-hot economy, business-friendly policies and a Communist party led by free-traders: that’s the elevator pitch Vietnamese Prime Minister Nguyen Xuan Phuc is delivering to global investors amid the U.S.-China trade war.
Vietnam, Hong Kong to promote trade amid US-China tensions
Speaking at a media briefing in HCM City, Terence Chiu, country head of commercial banking at HSBC Hong Kong, said that more Hong Kong investors were eyeing Việt Nam as a good destination to seize huge opportunities for investment.
APEC workshop seeks to harness digital trade for SMEs
The APEC workshop on harnessing digital trade for small and medium-sized enterprises (SMEs) is underway in Hanoi, aiming to realise one of Vietnam’s initiatives during APEC Year 2017 on facilitating trans-border e-commerce.
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