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Vietnamese startup KiotViet raises $45 mln from a global investment firm KKR

Injecting $45 million in a Series B funding round, global investment firm KKR has become the biggest investor in KiotViet, a store management enabler, according to a from the investment firm.

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BuyMed raises $9 mln Series A after posting 4X revenue growth in the past year

BuyMed, the operator of Thuocsi.vn, Vietnam’s largest online pharma distribution marketplace, has raised $9 million through Series A financing round, according to the company’s statement.

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Vietnam’s FDI inflows slightly fall to $19 billion in eight months

Foreign investment inflows to Vietnam reached $19.12 billion in the first eight months, down 2.1 percent against the same period last year, according to the Ministry of Planning and Investment.

News

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Firms urge Ho Chi MInh City to reopen economy soon

Businesses want HCMC to reopen its economy soon to ensure their survival after over three months of social distancing amid prolonged Covid-19 outbreaks.

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CAAV proposes measures to partly resume domestic flights amid COVID-19

The Civil Aviation Authority of Vietnam has proposed the classification of domestic airports depending on COVID-19 risks for the re-opening of regular domestic flights amid the pandemic.

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Ports see increase in goods handling despite COVID-19

Thanks to the adoption of drastic COVID-19 prevention measures at ports, volume of goods that passed through ports in the first eight months increased by 18 percent year-on-year to 16.8 million TEUs

Economy

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Vietnam’s State budget expected to rise by 8.3 percent in 2022

Total State budget in 2022 is expected to reach VND516.7 trillion ($22.6 billion), up 8.3 percent against 2021’s plan, according to the Ministry of Planning and Investment.

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Eight-month credit in Hanoi rises 8.3 percent

By the end of August, the total outstanding credit of the banking system in Hanoi reached $104 billion, up 1 percent over the previous month and 8.3 percent year-on-year.

Companies

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Entering into telecommunications and digital services play, what competitive edge does Masan offer?

The Sherpa, a Masan subsidiary, has acquired 70% of Mobicast shares. What advantages does this group offer to enter into telecommunications and digital services game which is dominated by telecom giants?

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Masan acquires 70% stake of a mobile network operator Mobicast

The Sherpa, a subsidiary of Masan Group has announced its entry into telecom after closing the acquisition of 70% of Mobicast JSC for a total cash of VND295.5 billion ($13 million).

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Masan subsidiary forms strategic partnership with De Heus Vietnam

Masan MEATLife Corporation, a unit of Masan Group signed an MOU with De Heus Vietnam to form a strategic partnership to raise the productivity of the Animal Protein Value Chain, statement said.

Market

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Finance ministry announces roadmap to reorganise stock market

Minister of Finance plans to rearrange the securities trading market in a newly-promulgated Circular, a move towards the merging two national stock exchanges into one named the Việt Nam Stock Exchange.

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Masan gets approval to remove foreign ownership limit

Vietnam’s private conglomerate Masan Group has got approval from the State Securities Commission to raise foreign ownership limit to 100%, according to a statement posted on its website.

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Casino operator stock skyrockets despite sustained losses

Ticker RIC of the Royal International Corporation has surged 755 percent since January despite the company reporting losses for years.

Real Estate

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BW Fosters a Culture of Giving Back

As BW Industrial Development JSC (BW) continues on its growth trajectory, CEO Lance Li discusses the company’s commitment to supporting Vietnam in the fight against COVID-19.

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Nam Long partners with Hankyu Hanshin Properties Corp to build $814-million city in Dong Nai

Nam Long Group plans to build a 170-hectare city with 3,000 townhouses in Southern province of Dong Nai under a strategic cooperation with Osaka-based Hankyu Hanshin Properties Corporation, the Vietnamese realtor said.

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BW and ESR convert warehouse into COVID-19 field treatment centre

BW Industrial Development JSC and ESR Cayman Ltd accelerated the completion of a 40,000 sqm facility in the My Phuoc 4 Industrial Park which will serve as a makeshift COVID-19 treatment centre.

Life & Art

World

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Jeff Bezos to Step Down as Amazon CEO; Andy Jassy to Take Over

The company announced changing roles as it reported that revenue in the fourth quarter soared 44% to $125.56 billion

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China failed to buy agreed amounts of U.S. goods under ‘phase one’ trade deal

China has so far failed to meet its committed purchases of U.S. goods under the “phase one” trade deal that it struck with the Trump administration.

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Signal and Telegram downloads surge after WhatsApp says it will share data with Facebook

Downloads of privacy-focused messaging apps Signal and Telegram got a boost as users looked for alternatives to Facebook-owned WhatsApp over concerns about changes to the service’s privacy policy.