Vietnam 

Banks allowed to expand network size in New Year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers make transactions at a LienVietPostBank office in Hà Nội. – Photo LienVietPostBank Viet Nam News Bắc Á Bank has been given permission to open seven transaction offices and four branches in Thái Nguyên, Bắc Giang, Hà Nam, Lâm Đồng, Lạng Sơn, Hà Giang, Long An and Bình Định. In the last quarter of 2018, the bank also gained approval to open five branches and 30 transaction offices across the country. On February 14, SBV Governor Lê Minh Hưng also permitted LienVietPostBank to open five transaction offices…

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Singapore’s Zilingo raises US$226 million to expand fashion site inspired by Bangkok’s Chatuchak market

Zilingo, a Singapore-based online fashion marketplace, raised US$226 million to fund an expansion into the Philippines, Indonesia and Australia. Investors in the series D financing included Sequoia Capital, Temasek Holdings, Burda Principal Investments, Sofina and EDBI, the company said on Tuesday without disclosing a valuation. The start-up is valued at US$970 million, according to people familiar with the matter who asked not to be named because the information is private. Zilingo, founded by Ankiti Bose and Dhruv Kapoor, started as a fashion and lifestyle marketplace in 2015 to help small…

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How China can avoid 2 per cent growth nightmare: cut interest rates, expand money supply and ramp up deficit spending

China’s growth slowdown is reaching crisis point. How bad could it be? Very bad, judging by the weaker signals coming out of China right now. Its 2019 GDP growth rate could end up well outside the consensus range of expectations, which has been between 5 and 7 per cent. Negative forces are building and China could hit a brick wall very soon with economic expansion collapsing, sinking to as low as 2 per cent in the worst-case scenario. A hard landing on such a scale would be unprecedented, catastrophic and…

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Vietnam 

Thanh Hóa to expand Nghi Sơn EZ – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Nghi Sơn Economic Zone in the central province of Thanh Hóa will be expanded to 106,000 ha, ten times larger than its initial planned size, in order to meet business demand and turn the area into a driving force for the socio-economic development of the province and the north-central region. The new master plan was announced by the Ministry of Construction and provincial authorities in Tĩnh Gia District on Wednesday. It includes nearly 66,500ha of land and more than 39,500ha of…

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Vietnam 

FDI firms expand in local textile-garment sector – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam had become increasingly appealing to large foreign investor groups in the textile and garment industry who wanted to seize opportunities when the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect in January next year, according to analysts. German-based Amann Group, one of the world’s top three leading producers of high-quality sewing and embroidery thread, is expanding its network to Việt Nam with a new factory being constructed in Tam Thăng Industrial Park in the central province of Quảng Nam.…

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Vietnam 

More banks permitted to expand credit growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The credit quota for Military Bank has been lifted from 15 per cent to 17 per cent for 2018. – Photo MB Viet Nam News HÀ NỘI –– The State Bank of Việt Nam (SBV) recently decided to allow more commercial banks to expand their credit growth limits in 2018. The credit quota for Military Bank (MB) has been lifted from 15 per cent allocated at the beginning of the year to its new level of 17 per cent, the Bản Việt Securities Company reported. Credit expansion…

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Vietnam 

RoK’s Lotte Group wants to expand investment in Hà Nội – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Chairman of the Hanoi People’s Committee Nguyễn Đức Chung (right) and Lotte Chairman Shin Dong-bin. — VNA/VNS Photo Lâm Khánh Viet Nam News HÀ NỘI — Chairman of the Hanoi People’s Committee Nguyễn Đức Chung had a working session on Monday with Lotte Chairman Shin Dong-bin from the Republic of Korea (RoK) on the group’s business results in 2018 and its plan to expand investment in the capital city. According to Shin, Lotte has injected VNĐ40 trillion (US$1.7 billion) into its projects in Việt Nam and created around…

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Vietnam 

AI can help small businesses expand, improve productivity – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Experts at a seminar at Sai Gon Innovation Hub urged small- and medium-sized enterprises to use AI to expand their business scale and improve productivity. — VNS Photo Xuân Đăng Viet Nam News HCM CITY— The use of Artificial intelligence (AI) by small- and medium-sized enterprises could help them expand their business, the CEO of the Social Media Command Centre said at a seminar on Thursday in HCM City. Speaking at the Saigon Innovation Hub, Lê Công Thành said SMEs in Việt Nam should first identify their weaknesses…

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Toys ‘R’ Us Asia aims to expand in the region after divorce from American parent

Toys ‘R’ Us Asia plans to expand its presence in the region, mainly in China and Japan, after divorcing itself from its US parent company which filed for bankruptcy last year. At a press conference in Hong Kong, Andre Javes, president of Toys ‘R’ Us Asia Pacific, repeatedly stressed that the Asian business is now completely separate from the troubled US entity, Toys ‘R’ Us Inc, and that its shareholders are focused on developing the market in the region. He outlined expansion plans at the event on Monday, which included…

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Vietnam 

German businesses want to expand investment in Việt Nam, says survey – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A corner of TRUMPF Việt Nam Company Ltd, a German business in HCM City. The company provides businesses with local sales, spare parts and service. — Photo baodautu.vn Viet Nam News HCM CITY — German business expectations remained largely positive in Việt Nam, according to the annual AHK World Business Outlook report compiled by the German Chambers of Commerce Abroad. The survey into German business insights in Việt Nam and around the world on current future economic development covered more than 3,500 German businesses worldwide to assess their…

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