Vietnam’s FPT Expands Global Footprint with Acquisition of Majority Stake in French IT Consulting Firm AOSIS

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Vietnamese technology giant FPT revealed its latest move towards global expansion by acquiring an 80% stake in the French IT consulting firm AOSIS. The strategic initiative aims to bolster FPT’s competitiveness in the European technology landscape.

This acquisition is anticipated to significantly increase FPT’s customer base and business opportunities. FPT plans to capitalize on its expertise in system application programming (SAP), data, cloud solutions, and business intelligence, particularly focusing on the aerospace, aviation, and transport sectors.

The integration of AOSIS into FPT’s global network, comprising hundreds of tech experts and four additional offices, positions the group to enhance its delivery capabilities in the French and broader European markets.

Established in Toulouse, France, in 2010 by SAP experts, AOSIS currently provides services in business intelligence, data science, big data, data governance, training, and software solutions.

Related: How to acquire a business in Vietnam as foreign investor

Pham Minh Tuan, CEO of FPT Software, a subsidiary of FPT, emphasized the company’s strategic approach to mergers and acquisitions (M&A) with leading global consulting and technology firms. This approach is designed to fortify FPT’s core competencies, consolidate its position in strategic markets, and expand its customer base.

AOSIS, with its strong reputation in the French data market, industry-specific expertise, and high-quality resources, is expected to enhance FPT’s resilience. The goal is to provide end-to-end solutions that support customers in their digital transformation journey, according to Tuan.

Europe remains one of FPT’s key markets, boasting a network of 10 offices in Germany, France, the United Kingdom, Denmark, Slovakia, and Romania. In 2023, FPT expanded its global presence by entering the U.S. market. This involved acquiring the entire IT service division of Intertec International and becoming a major investor in Landing AI, a prominent computer vision and AI software company. Additionally, FPT recently announced its acquisition of Cardinal Peak, a U.S.-based product engineering service firm founded in 2002.

The adoption of M&A strategies has played a pivotal role in FPT’s global expansion efforts. These initiatives have enabled the company to achieve its target of generating $1 billion in revenue from IT services in foreign markets by the end of the year and secure a position among the top 50 global technology companies.

Vietnam Implements New Standards for Foreign English Teachers. Here’s What to Know

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The Ministry of Education and Training in Vietnam has recently introduced a decision outlining a comprehensive training and certification initiative for foreigners engaged in teaching the English language at foreign language and information technology centers within the country.

The primary objective of this program is to equip foreigners, including native English speakers, possessing a college degree or higher, with the necessary training and certification for teaching English. Eligibility extends to foreigners with a college degree in English or higher, as well as those with a college degree or higher and a foreign language proficiency certificate rated at level 5 or higher, following Vietnam’s 6-level foreign language competency framework or its equivalent.

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The program focuses on cultivating effective and adaptable English teaching skills tailored to the cultural and contextual nuances of Vietnam. This approach is designed to address the specific training and certification needs, ultimately contributing to elevating the quality of English instruction at foreign language and information technology centers.

Upon successful completion of the training program, participants are required to meet the English teaching competency standards set by these centers. This involves the practical application of knowledge, teaching methods, and approaches to English language instruction. Trainees are expected to analyze, evaluate, and adjust content and methodologies to suit the learners, culture, and educational context of English language instruction in Vietnam.

The training curriculum comprises 10 modules covering a range of topics related to knowledge, methods, and skills. Additionally, there is a practical internship period spanning 160 lessons, each lasting 45 minutes.

Hoi An’s last remaining dog meat restaurant closed

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The Hoi An city government, in collaboration with the Global Animal Welfare Organization Four Paws, has achieved a significant milestone by successfully campaigning for the closure of one of the oldest dog and cat meat establishments in the area.

On December 6, Mr. Nguyen The Hung, Vice Chairman of Hoi An City, announced the successful campaign to close a long-standing dog and cat meat store located in Cam Pho ward, Hoi An city. The proprietor, Mr. Pham Van Quyet, revealed that his establishment, in operation for nearly 15 years, annually consumed over 350 dogs.

Following persuasive efforts by the local government and Four Paws, Mr. Quyet voluntarily agreed to adhere to Hoi An city’s policy and cease his business operations. He expressed his commitment to supporting the city’s initiative to end the dog and cat meat trade, stating, “When I learned about the project that Four Paws and Hoi An City People’s Committee aimed to end the dog and cat meat trade in the city, I felt I could contribute to reducing this situation by closing my restaurant. I will also encourage other restaurant owners to act like me soon.”

Post-closure, Mr. Quyet hopes his decision will inspire other dog and cat meat traders in the area to follow suit.

Ms. Karen O’Malley, Director of Four Paws’ Program to End the Dog and Cat Meat Trade, hailed the event as a positive step towards gradually eliminating the trade. She emphasized the potential for saving countless lives of innocent animals, stating, “With many innocent pets caught on the streets or stolen from homes, we hope that removing dog and cat meat from the diet will save the lives of thousands of animals in the future.”

Mr. Nguyen The Hung, Vice Chairman of Hoi An City People’s Committee, acknowledged the successful collaboration with Four Paws over the past two years, leading to the implementation of activities to curb the trafficking of dog and cat meat. He stated, “While we know there is still much work to be done, the closing of this restaurant marks another step forward in phasing out the dog and cat meat trade from the city of Hoi An, and we encourage other cities across Vietnam to do the same.”

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In December 2021, the Hoi An City People’s Committee signed a memorandum of understanding with Four Paws committing to eliminate the use of dog and cat meat in the area. The collaborative efforts between the two entities have included free sterilization and vaccination campaigns, along with awareness-raising initiatives.

According to Four Paws, an estimated 10 million dogs and cats are captured, transported, and slaughtered for meat annually in Cambodia, Vietnam, and Indonesia. The majority of these animals are pets or stolen from communities, with stray animals sourced from the streets to supply the trade.

Unlocking Opportunities: Private Equity Fund Types for Foreign Investors

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Private equity funds represent investment vehicles that supply capital to privately held companies in exchange for an ownership stake. These funds present an enticing avenue for investors to tap into the growth potential of companies not publicly traded, potentially yielding attractive returns.

However, it is imperative to recognize that private equity funds entail elevated risk compared to traditional investments, necessitating a comprehensive understanding of the various fund types and their operational mechanisms.

The following outlines some prevalent categories of private equity funds:

1. Venture Capital Funds:

  • Focus on early-stage companies with substantial growth prospects, often in technology, life sciences, and emerging industries.
  • Typically invest in companies that are pre-revenue or have limited revenue.

2. Growth Equity Funds:

  • Invest in established companies with proven business models seeking capital for expansion.
  • Span a broad range of industries, targeting companies with significant revenue looking to grow further.

3. Buyout Funds:

  • Concentrate on acquiring controlling interests in well-established, profitable companies with a strong market position.
  • Aim to acquire these companies at discounted prices to generate attractive returns.

4. Distressed Funds:

  • Invest in companies facing financial challenges, such as bankruptcy or substantial debt.
  • Provide financing—debt, equity, or a combination thereof—with the goal of facilitating a turnaround or restructuring.

5. Real Estate Funds:

  • Invest in commercial or residential properties, or a blend of both, generating returns through property appreciation and rental income.

6. Mezzanine Funds:

  • Offer a hybrid financing form combining debt and equity features.
  • Typically provide financing to companies outgrowing traditional debt options but not yet prepared for an initial public offering.

7. Fund of Funds:

  • Invest in a portfolio of private equity funds rather than directly in companies.
  • Provide access to a diverse range of private equity investments, mitigating risk by spreading investments across multiple funds.

While private equity funds present an avenue for investors to access high-growth companies and generate appealing returns, it is crucial to acknowledge their heightened risk. Prospective investors must comprehend the distinct characteristics and investment focus of various private equity funds to make well-informed decisions. As with any investment, a thorough evaluation of risks and rewards, along with meticulous due diligence, is imperative before committing to a private equity fund.

For foreign investors in Vietnam seeking opportunities to buy, sell, or open a company, there are multiple avenues to initiate and manage a business. GBS experts can provide valuable insights and guidance on navigating the business landscape in Vietnam.

Take advantage of GBS‘s complimentary online meeting consultation to gain a comprehensive understanding of the prerequisites and market dynamics associated with conducting business in Vietnam. Their team will furnish you with valuable insights into the requirements, offering foresight into potential scenarios. With a commitment to ensuring a seamless and stress-free experience, GBS guides you through every step of the registration process, providing expert assistance for a smooth business establishment in Vietnam.

Ha Nam honored as ‘The world’s top local cultural destination’

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Ha Nam has been honored for the first time as the “Top Cultural Destination in the World 2023” within the framework of this year’s World Travel Awards.

Ksitigarbha Phi Lai Temple is a famous pilgrimage site in Henan. Photo: Vuong Loc

To achieve this title, Ha Nam surpassed many “competitors” such as George Town (Malaysia), Gjirokastër (Albania), Kathmandu Valley (Nepal), and Oaxaca City (Mexico).

Located at the southern gateway of Hanoi, about 65km from the capital, Ha Nam is a land rich in potential for the development of spiritual, cultural, ecological, and culinary tourism, boasting historical sites, scenic landscapes, and famous craft villages.

A corner of Tam Chuc pagoda complex. Photo: Duong Nhut Long

According to the Tourism Information Center of the National Tourism Administration, the festival season in Ha Nam usually takes place from January to March every year. On the full moon day of April, there is Buddha’s birthday, suitable for tourists to visit the temples. Ha Nam owns many famous pagodas in the country such as Tam Chuc Pagoda, Dia Tang Phi Lai Tu Pagoda, Ba Danh Pagoda…

In particular, Tam Chuc is a vast spiritual scenic area, including Tam Chuc Pagoda, known as one of the largest pagodas in the world. This place not only features majestic natural landscapes but also nurtures, develops, and promotes the international cultural values of Buddhism.

Photo: Duong Nhut Long

In addition to famous pagodas, Ha Nam also owns many other scenic spots such as Ba Kien house – the prototype of Vu Dai Village, Kem Trong tourist area, Tran Thuong temple, Vu Dai fish warehouse village, Doi Tam drum village, Nha Xa silk weaving village, Den Truc tourist area – Ngu Dong Son…

Tourists coming to Ha Nam should not forget to taste specialties such as Phu Ly grilled meat rolls, vermicelli, perch rice paper, Vu Dai village braised fish, Binh Luc fish sauce, Voc Long Tuu, Dai Hoang banana. …

@SGtiepthi

Vietnamese and Cambodian tourists can scan QR codes for cross-border payments

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Vietnamese tourists visiting Cambodia or Cambodian guests in Vietnam can now scan QR codes to make payments for goods and services without the need to exchange currencies.

The National Payment Corporation of Vietnam (NAPAS) and ACLEDA Bank in Cambodia have officially completed a pilot project to interconnect retail payment using QR codes between Vietnam and Cambodia. With the successful implementation of this connection, through the Bakong app of the National Bank of Cambodia, customers of 57 Cambodian banks in Vietnam can scan VietQR codes at payment acceptance points of the first banks to implement the service, including BIDV and TPBank, to make payments from their Cambodian Riel (KHR) accounts.

Sacombank customers can scan QR codes in Cambodia when purchasing goods and services

Conversely, Vietnamese tourists in Cambodia can also use mobile apps from banks such as BIDV, Sacombank, and TPBank to make payments by scanning KHQR codes at around 1.8 million payment acceptance points in Cambodia. When using cross-border QR code payment services, tourists from both countries will enjoy favorable exchange rates instead of converting to a third currency.

In the future, NAPAS will continue to collaborate with Cambodia to expand the participation of Vietnamese banks in deploying services to meet the payment needs of tourists from both countries.

Furthermore, NAPAS and the National Payment Network Company Limited (LAPNET) in Laos have also signed a cooperation agreement to research and pilot the interconnection of bilateral retail payments using QR codes between Vietnam and Laos. Therefore, within the Southeast Asia region alone, NAPAS has extended payment cooperation beyond territorial boundaries with three key partners, including Thailand, Laos, and Cambodia.

@Thanhnien.vn

Hanoi charges the highest entrance fee of 120,000 VND

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Accordingly, the entrance fees for historical and cultural sites in Hanoi have been adjusted as follows: Temple of Literature-National University: 70,000 VND/visit/person; Ngoc Son Temple: 50,000 VND/visit/person; Hoa Lo Prison Historical Site: 50,000 VND/visit/person; Thang Long Imperial Citadel Center: 100,000 VND/visit/person; Huong Pagoda (Huong Son): 120,000 VND/visit/person (including 2,000 VND for tourist insurance).

On the afternoon of December 6, the People’s Council of Hanoi passed a draft resolution amending the regulations on entrance fees for scenic spots, historical sites, and cultural monuments in the city, as stipulated in Resolution No. 06/2020/NQ-HDND dated July 7, 2020. The new resolution adjusts and increases the entrance fees for visits and scenic attractions at various sites from 30,000 VND/visit/place to the new specified amounts.

Quan Thanh Temple and some relics will not charge fees on the 30th day of the 12th lunar month and the 1st and 2nd days of the Lunar New Year.

Accordingly, the entrance fees for historical and cultural sites in Hanoi are as follows: Temple of Literature-National University: 70,000 VND/visit/person; Ngoc Son Temple: 50,000 VND/visit/person; Hoa Lo Prison Historical Site: 50,000 VND/visit/person; Thang Long Imperial Citadel Center: 100,000 VND/visit/person; Huong Pagoda (Huong Son): 120,000 VND/visit/person (including 2,000 VND for tourist insurance).

Exempted from fees are individuals with severe disabilities, in accordance with the regulations for severely disabled persons, and children as defined by the Child Law. A 50% reduction in fees applies to individuals with severe disabilities as prescribed, senior citizens who are Vietnamese citizens aged 60 and above with identification documents, students from 16 years old and above, beneficiaries of cultural incentives, those who have contributed to the revolution, and individuals under social welfare policies.

Sites with no entrance fees include Cultural Heritage Day on November 23; additionally, Ngoc Son Temple is free on the death anniversary of Saint Giong on the 20th of the 8th lunar month and on the 1st day of every lunar month throughout the year; Huong Pagoda is free on the 30th, 1st, and 2nd days of the Lunar New Year; Buddha’s Birthday (April 15th lunar calendar); Quan Thanh Temple, Tay Phuong Pagoda, Thay Pagoda, and Duong Lam Ancient Village are free on the 30th of the 12th lunar month and on the 1st and 2nd days of the Lunar New Year.

@Cafef

Ho Chi Minh City launches new night tourism product

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With 4 experiential activities, the characteristic tour “District 1 – Night Colors” maximizes the potential of the “city that never sleeps,” offering a diverse range of sightseeing and experiences for tourists.

The event attracted a large number of attendees. Photo”: Linh Huynh

Enjoying culture and arts, night sightseeing, entertainment, and shopping, nocturnal culinary culture, and night dining services are the four aspects that tourists will experience when participating in the “District 1 – Night Colors” tour. The program has garnered attention from many tourists, especially the younger generation.

Mr. Le Truong Hien Hoa, Deputy Director of Ho Chi Minh City Department of Tourism spoke at the event. Photo: Linh Huynh.

Speaking at the event, Mr. Le Truong Hien Hoa, Deputy Director of the Ho Chi Minh City Department of Tourism, said: “In Vietnam, spending on nighttime tourism activities accounts for 70% of tourists’ expenditures. In the development plan of ‘Each district, each locality has a distinctive product,’ the city has planned to build nighttime tourism products to diversify products for tourists.”

“District 1 – Night Colors” will contribute to diversifying the city’s tourism products, increasing the number of distinctive tourism programs in Ho Chi Minh City to 60 attractive programs, Mr. Le Truong Hien Hoa added.

Many delegates attended the launch. Photo: Linh Huynh.

The proposed sightseeing program is expected to last for 5 hours. Tourists will enjoy cuisine at the Colorful Night Street, watch the A O Show – a unique and fresh circus arts performance, visit museums in District 1, check-in at the pedestrian streets Nguyen Hue and Le Loi, explore Ben Thanh Market, and relax at the end of the day with foot massage at a spa.

Moreover, tourists will have the opportunity to visit the Ho Chi Minh City People’s Committee headquarters on the last Saturday and Sunday of the month and watch the “Water Puppetry” on Fridays, Saturdays, and Sundays every week.

Additionally, locals and tourists can experience and explore activities such as strolling at Bach Dang Wharf, “Western Street” Bui Vien, admiring the Saigon River Port, riding double-decker buses, cruising on the Saigon River, savoring street food at night markets, beer alleys, cafes at the 42 Nguyen Hue Apartment…

@Znews

Hơn 1.000 sinh viên tranh tài tại Giải Bóng rổ Sinh viên TP.HCM năm 2023

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Ngày 06/12, Lễ khai mạc Giải Bóng rổ Sinh viên TP.HCM năm 2023 chính thức diễn ra tại nhà thi đấu Lãnh Binh Thăng (quận 11, TP.HCM) với sự tham gia của 62 đội bóng. Giải đấu do Sở Văn hóa và Thể thao TP.HCM cùng Liên đoàn Bóng rổ TP.HCM phối hợp tổ chức, với sự đồng hành tài trợ của nhãn hàng Nestlé MILO, hứa hẹn mang đến sân chơi bổ ích giúp các em sinh viên nâng cao sức khỏe và rèn luyện ý chí bền bỉ cùng thể thao.

Năm nay, giải đấu tiếp tục thu hút được nhiều sự quan tâm, ủng hộ từ các trường trên địa bàn thành phố. Trong hai tuần từ ngày 06/12 đến 20/12, 1.054 sinh viên đến từ 62 đội thuộc 33 trường đại học và cao đẳng sẽ cùng mang đến những cuộc so tài hấp dẫn.

Bên cạnh bóng đá, bơi lội, Aerobic… bóng rổ cũng nằm trong danh sách các môn thể thao chính thức của chương trình Năng Động Việt Nam được Nestlé MILO triển khai từ năm 2016. Bộ môn này không chỉ góp phần cải thiện sức khỏe thể chất mà còn giúp các em học được những giá trị quý báu như ý chí bền bỉ, lòng kiên trì, sự tự tin và không bao giờ bỏ cuộc, khả năng lãnh đạo cùng tinh thần đồng đội. Đồng thời, các giải đấu học sinh – sinh viên như Giải Bóng rổ Sinh viên TP.HCM năm 2023 cũng là nơi đào tạo nhiều tài năng thể thao trẻ để bổ sung vào lực lượng đội tuyển quốc gia, góp phần vào sự phát triển của bóng rổ Việt Nam.

Ông Huỳnh Trọng Khải, Chủ tịch Liên đoàn Bóng rổ TP.HCM chia sẻ: “Bóng rổ sinh viên được định hướng để phát triển dài hạn và không ngừng mở rộng quy mô cũng như sự chuyên nghiệp và sức lan toả qua mỗi năm. Từ những giải đấu thường niên như Giải Bóng rổ Sinh viên TP.HCM, sinh viên sẽ có cơ hội trải nghiệm môi trường thể thao chuyên nghiệp thông qua hoạt động giao lưu, thi đấu với các đội bóng sinh viên chuyên nghiệp trong khu vực và quốc tế. Chúng tôi đánh giá cao sự đồng hành của nhãn hàng Nestlé MILO xuyên suốt nhiều năm qua khi tích cực thúc đẩy phong trào thể thao học đường nói chung, cũng như bộ môn bóng rổ cho sinh viên và học sinh các cấp nói riêng.”

Bên cạnh Giải Bóng rổ Sinh viên TP.HCM, Nestlé MILO đã và đang tích cực phối hợp cùng các cơ quan ban ngành tổ chức thành công nhiều chương trình, điển hình là 25 năm đồng hành cùng Giải Bóng rổ Học sinh TP.HCM – một trong những sân chơi lâu đời của thể thao học đường thành phố, Giải Bóng rổ Hội khỏe Phù Đổng, Giải Bóng rổ Học sinh Tiểu học Hà Nội,… Nhãn hàng cũng đã trao tặng và lắp đặt hàng trăm trụ bóng rổ cho nhiều trường học trên cả nước, tạo điều kiện để các em học sinh thường xuyên tập luyện thể thao.

Bà Philomena Tan, Giám đốc ngành hàng MILO và Sữa, công ty Nestlé Việt Nam chia sẻ: “Chúng tôi luôn nỗ lực hướng đến mục tiêu đưa thể thao trở thành một phần không thể thiếu trong cuộc sống của thế hệ trẻ Việt Nam thông qua các hoạt động thể thao mà Nestlé MILO đồng tổ chức, từ đó giúp các em rèn ý chí bền bỉ cho một hành trình “có chí thì nên”, hiện thực hóa cam kết xây dựng Thế hệ Ý Chí cho tương lai. Sự nhiệt huyết, đam mê cũng như tinh thần bền bỉ của các vận động viên sinh viên tại giải đấu cũng là nguồn động lực để chúng tôi tiếp tục mở rộng, đẩy mạnh sự phát triển của phong trào bóng rổ nói riêng và các sân chơi thể thao cho thanh thiếu niên nói chung trong khuôn khổ chương trình Năng Động Việt Nam.”

Bên cạnh các hoạt động thể thao học đường đa dạng đã được triển khai trong năm 2023, tháng 8 vừa qua, công ty Nestlé Việt Nam và Sở Giáo dục và Đào tạo TP.HCM đã ký kết “Thỏa thuận hợp tác triển khai các hoạt động thể chất và dinh dưỡng cho học sinh TP.HCM năm học 2023 – 2024” nhằm đẩy mạnh phong trào phát triển thể chất và xây dựng Thế hệ Ý Chí nhờ nền tảng vững chắc về ý chí bền bỉ mà trẻ học được từ thể thao.

Saint Lucia Citizenship by Investment: Your Passport to Paradise

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The world is now slowly becoming chaotic, making people think of living in a place with more calmness, peace, and positivity. A place with economic stability, a future for their kids, and a good developed infrastructure.

A place that is a direct synonym for peace, calmness, beauty, and positivity is Saint Lucia, which is right now one of the most desired places to live in the world.

Termed as “the paradise on earth” by many tourist brochures, the country truly lives up to its name. Surrounded by friendly neighbors like Barbados and Martinique and beaches with white sand, it has now become a dream destination for many.

What if I tell you that getting citizenship in Saint Lucia is now easier than ever? You won’t believe me, right? Read along to learn how you can get your passport to paradise.

Why Choose Saint Lucia?

Let us hold on to our curiosity, and before knowing the ins and outs of obtaining Saint Lucian citizenship, let’s start by understanding why Saint Lucia tops the list of most desired places to live in the world.

Mesmerizing Beauty: Saint Lucia is encircled by its beautiful white sand beaches and multi-hued sea, varying in color from light green to deep blue. It has wonderful waterfalls, and not to forget Saint Lucia’s iconic twin peaks—Gros Piton and Petit Piton.

Economic Stability: Despite being a small country, Saint Lucia has managed to create and maintain a stable economy, many thanks to the opportunities in tourism and agriculture.

Location: Saint Lucia is a country placed in such a way that the location creates a very easy traveling base for other countries, including Canada and the Americas, making business, traveling, and communication easier.

No Income Tax: In St. Lucia, there is no income tax, inheritance tax, or capital income tax. This makes it a tax-friendly destination for residents and citizens to enjoy and work without worrying about any major deductions.

Powerful Passport: By obtaining Saint Lucian citizenship, you can avail the benefit of visa-on-arrival or visa-free access to over 147 countries, including Hong Kong, Singapore, the UK, and the countries in the Schengen zone.

 

How to Get Saint Lucian Citizenship

Already willing to hop on a plane, right? Before you start packing, let us know how to get a Saint Lucian passport and citizenship in a jiffy.

Gladly, it is now easier than ever to get a citizenship and passport by investment from Saint Lucia.

While there are a lot of options to get citizenship by investment, let us know in detail these options and see which one fits you the best.

 

National Economic Fund Contribution

This choice represents one of the most cost-effective and straightforward investment methods, but it comes with a drawback: it is a non-refundable investment, meaning any future profits from the investment are unattainable.

To qualify for citizenship through investment, a solo applicant is required to make a $100,000 USD donation. Cost will vary if you want to include a family member. For the primary applicant and their spouse, a contribution of $140,000 is mandatory.

For a family of four, including the primary applicant, spouse, and two eligible dependents, the total expense amounts to $150,000. Any additional dependent incurs an extra cost of $15,000.

 

Real Estate Investment

This is one investment which attracts a lot of businessmen. In this option, investors can choose to buy any government-approved real estate, such as luxury hotels, spas, or boutiques, with the lowest investment of $200,000.

By making this investment and paying a state fee that begins at $30,000, candidates and their families can gain acceptance into the program and receive Saint Lucia citizenship and their passport to paradise.

 

Government Bonds

There is another simpler option to get a Saint Lucia citizenship and passport. When individuals opt to invest in government bonds that do not accrue interest, they can invest $300,000 in government bonds.These bonds are required to be retained for a duration of five years.

Following the five-year holding period, the entire bond amount is refunded to the investor. Additionally, a government administration fee of $50,000 is applicable to this option.

 

Business Investment

This option is a rather expensive one, where candidates can invest in an eligible business venture or enterprise project as a single applicant;

A minimum investment of $3.5 million is necessary for a solo applicant, along with a commitment to generate at least three jobs.

If you have a group, then this investment category can also be extended to groups, provided the total investment amounts to $6 million, with each applicant contributing $1 million.

If you have a dependent applicant up to the age of 18, a fee of $ 25,000 will be added, and it will go up to $ 35,000 if your dependent is over 18 years of age.

It is to be noted that in all the above application options, there are due diligence fees to consider, amounting to $7,500 for the primary applicant and $5,000 for dependents who are 16 years of age or older.

Conclusion

Saint Lucia offers an alluring natural beauty, a stable economy, and appealing citizenship opportunities. It is God’s own paradise on earth, and you can have a good, peaceful living with your family through different investment options.

When considering the Citizenship by Investment program, completing the process is feasible if you have guidance from authorized agents who can navigate you through the process, enhancing your chances of success. Or else you can visit the official site of the Global Residence Index, to ensure an easy assessment of your passport from the Saint Lucia government.

Vietnam Market Watch: Stock Liquidity Reaches Two-Month High

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The total trading value on the Ho Chi Minh City Stock Exchange (HoSE) surged to nearly 27,500 billion VND, marking the highest level since late September, amid a session marked by a red VN-Index.

Today’s market activity surpassed the previous session, with liquidity reaching yesterday morning’s equivalent within the first hour alone. Before the lunch break, the HoSE witnessed over 17,100 billion VND in shares changing hands.

In the afternoon, liquidity on HoSE continued its ascent, closing at over 27,446 billion VND (exceeding 1 billion USD), marking the highest level in the past two and a half months since September 22.

Foreign investors actively participated, with sales exceeding 2,300 billion VND and purchases nearly reaching 1,490 billion VND, both showing an increase from the previous day. Overall, this group recorded a net sale of more than 810 billion VND, marking the 7th consecutive session of foreign investors being net sellers.

While liquidity increased, market scores took a downturn. The VN-Index remained in the green for approximately 45 minutes initially, only to swiftly retreat below the reference. Blue-chip stocks exerted notable pressure on the market, causing the index to breach the 1,110-point mark by the session’s end.

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In the afternoon, the market displayed signs of improvement as the red color gradually receded. The HoSE representative index reclaimed milestones and approached the reference before entering the ATC session. The VN-Index ultimately closed at 1,121.5 points, down nearly 5 points compared to the previous day.

The HoSE saw 289 stocks decreasing and 205 stocks increasing. Notably, banking and insurance were the only two sectors with increased sector indexes.

Securities and real estate stocks had a detrimental impact on the market, with VND, SSI, and VIX recording trillions of VND in liquidity despite a decrease in market prices. SSI closed 2.2% lower than the reference, while VND and VIX both decreased by 3.3%. Other stocks, including SHS, VCI, MBS, FTS, and CTS, experienced more substantial declines.

Within the real estate group, codes DIG, NVL, DXG, KBC, CII, IDC, and HDC all decreased by 2% or more, with only NVL experiencing a 4.4% decrease in market price. However, this industry saw HQC and QCG swimming against the tide, reaching ceiling prices.

Why many American businesses are doubling their investments into Vietnam

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Numerous businesses are poised to amplify their investments in Vietnam, underscoring the country’s pivotal role in the global supply chain, as per the American Semiconductor Association.

During a seminar convened by the Ministry of Planning and Investment on December 7 in Hanoi, Mr. John Neuffer, Chairman of the American Semiconductor Industry Association (SIA), emphasized the escalating demand for advanced semiconductor technology. To meet this need, collaborative efforts between nations, such as the US and Vietnam, are imperative to capitalize on emerging opportunities.

The SIA delegation’s visit to Vietnam featured industry giants including Intel, Marvell, Synopsys, Qualcomm, Ampere, and Infineon. Mr. Neuffer revealed that several of these companies have recently made substantial investments in Vietnam. For instance, Intel injected $1.5 billion since 2006 and is now embarking on the second phase of expanding its assembly and testing operations (ATM). Intel’s Ho Chi Minh City facility alone contributes over 70% of the company’s total ATM output, generating more than 7,000 jobs. Additionally, Amkor recently inaugurated a facility in Bac Ninh, while Marvell established a significant research and development (R&D) center in Ho Chi Minh City.

Mr. Neuffer remarked, “Many businesses are doubling their investments. This is a testament to Vietnam’s key and growing role in the global semiconductor supply chain.”

To fortify collaboration and bolster the semiconductor industry in Vietnam, Mr. Neuffer suggested that the country enhance its workforce. He recommended expeditiously achieving the goal of training 50,000-100,000 engineers and fostering competition to attract research and development (R&D) investments. Moreover, improving infrastructure, transportation networks, and implementing conducive trade policies were identified as key areas for development.

Photo: Olivier Ochanine

Minister of Planning and Investment Nguyen Chi Dung affirmed that Vietnam is actively preparing to welcome and collaborate with American businesses and investors in the semiconductor supply chain. The nation has implemented a one-stop mechanism, devised a project to cultivate semiconductor human resources by 2030, and established NIC Hoa Lac to facilitate investment projects in the semiconductor industry with preferential terms. The Minister highlighted that Power Plan VIII, approved by the Government, ensures a priority for a stable electricity supply for investment projects and aims to guarantee sustainable energy.

During the event, localities and the Hi-Tech Park Management Board committed to providing stable electricity and water supply tailored to the needs of semiconductor businesses. Mr. Nguyen Anh Thi, Head of the Management Board of Ho Chi Minh City Hi-Tech Park, affirmed that the city boasts a seamless ecosystem, highly qualified human resources, and a culture of innovation in the semiconductor chip industry.

Addressing human resources, Mr. Nguyen Van Phuc, Deputy Minister of Education and Training, stated that the number of students studying STEM has consistently risen in recent years, with 40 universities in Vietnam offering training in semiconductor-related fields. He expressed a desire for American businesses to collaborate closely with universities, design programs, facilitate student internships, and support the establishment of laboratories.

PRUVenture with Prudential tiếp tục khẳng định chất lượng đội ngũ tư vấn viên với chiến dịch “Táo bạo tạo ảnh hưởng”

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Trải qua 2 năm triển khai chiến dịch “Táo bạo tạo ảnh hưởng”, PRUVenture (mô hình phát triển thế hệ Chuyên viên Hoạch định Tài chính mới toàn thời gian của Prudential Việt Nam) tiếp tục là bệ phóng vững chắc, giúp hàng trăm bạn trẻ thành công trong lĩnh vực tài chính bảo hiểm, và mang đến những giá trị – trải nghiệm tốt nhất cho khách hàng của Prudential.

Dấu ấn thế hệ “táo bạo tạo ảnh hưởng”

Cuối năm 2022, Prudential đã đưa PRUVenture sang một chương mới khi triển khai chiến dịch “Táo bạo tạo ảnh hưởng”, mang đến những hoạt động không chỉ giàu tính trải nghiệm mà còn trang bị kiến thức chuyên sâu giúp tư vấn viên trẻ phát triển vững vàng với nghề bảo hiểm.

Sau một năm nhìn lại, chiến dịch “Táo bạo tạo ảnh hưởng” đã minh chứng cho việc là “bệ phóng” vững chắc cho sự nghiệp của hàng trăm bạn trẻ nhiệt huyết, năng động, sẵn sàng nắm bắt cơ hội để khẳng định bản thân. Số lượng trưởng phòng kinh doanh PRUVenture with Prudential đã tăng hơn 5 lần. 

Không chỉ tăng nhanh số lượng, PRUVenture còn phát triển mạnh về chất khi xây dựng được đội ngũ tư vấn viên tinh hoa được quốc tế công nhận. Từ 51 tư vấn viên đạt MDRT* (Million Dollar Round Table) và 2 người đạt COT (Court of Table) năm 2022, đến tháng 11 năm 2023, PRUVenture đã có 120 MDRT đạt sớm, 3 COT và con số này đang tiếp tục tăng lên, góp phần đưa Prudential vươn tới vị trí số 1 thị trường Việt Nam và thứ 6 toàn cầu về số lượng MDRT với 1.976 thành viên.

Những kết quả kể trên cho thấy “Táo bạo tạo ảnh hưởng” không chỉ dừng lại ở một chiến dịch truyền thông gây tiếng vang trong ngành bảo hiểm mà đã trực tiếp tạo ra một thế hệ tư vấn viên dám nghĩ dám làm và “làm được”. Thực tế, Prudential đã kiên trì với chiến lược tạo ra một môi trường thuận lợi để các PruPlanner trẻ phát huy năng lực bản thân, tiến nhanh và vững chắc trên con đường sự nghiệp. 

Điều gì tạo nên “Táo bạo tạo ảnh hưởng” 2023 thành công? 

Khẳng định cam kết phát triển thế hệ tư vấn viên chất lượng trong chương kế tiếp, Prudential đã tập trung nhiều nguồn lực để xây dựng các chương trình dành riêng cho PruPlanner.

Để tập trung xây dựng cho đôi ngũ PruPlanner có được kỹ năng mềm tốt và xây dựng được hình ảnh cá nhân chuyên nghiệp, trong 2 tháng cuối năm 2023, PRUVenture Talk đã được tổ chức tại TP.HCM, Hà Nội và Đà Nẵng. Ở sự kiện này, PruPlanner được giao lưu với những người trẻ thành công như người mẫu Pông Chuẩn và travel blogger Lý Thành Cơ, trong khi đi sâu tìm hiểu các chủ đề về sáng tạo nội dung trên mạng xã hội, xây dựng hình ảnh chuyên nghiệp từ thần thái tới trang phục, hay cách quay dựng video thương hiệu cá nhân bằng các phần mềm thông dụng. 

PruPlanner được hướng dẫn xây dựng hình ảnh chuyên nghiệp tại sự kiện PRUVenture Talk

Ngoài ra, tại PRUVenture còn có “Trạm yêu 90 ngày” – một quyền lợi đặc biệt cho các tư vấn viên mới vào nghề, mang đến những trải nghiệm đầy ấn tượng về môi trường và công việc tại công ty. Khi bắt đầu trở thành một chuyên viên hoạch định tài chính toàn thời gian tại PRUVenture, các bạn trẻ sẽ được dẫn dắt 1-1 bởi những tư vấn viên kỳ cựu, được hỗ trợ sát sao liên tục, để thấy rõ lộ trình phát triển sự nghiệp từ các đồng nghiệp đi trước. Nhờ đó, tư vấn viên mới sẽ phát triển nhanh chóng và tiếp tục dẫn dắt thế hệ kế cận, xây dựng đội ngũ nhân sự của chính mình.

Các PruPlanner luôn được đồng hành và hỗ trợ trong suốt quá trình xây dựng sự nghiệp tại PRUVenture

Đồng thời, các PruPlanner còn được khuyến khích tham gia các chuỗi hội thảo phát triển sự nghiệp, để thúc đẩy tinh thần dũng cảm mở rộng giới hạn của bản thân để làm nên những điều khác biệt và trở thành những nhân tố ảnh hưởng trong ngành bảo hiểm.

Qua những hoạt động đã và đang được triển khai cũng như kết quả thực tế, có thể khẳng định rằng “Táo bạo tạo ảnh hưởng” của PRUVenture là minh chứng cho một chiến dịch vừa đáp ứng được nhu cầu nhân sự chất lượng của Prudential, vừa là nơi ươm mầm, trao cơ hội phát triển cho các bạn trẻ tài năng, trong bối cảnh ngành bảo hiểm đang bước sang một chương mới đầy hứa hẹn. 

Things to know before doing a business in Vietnam as a foreigner

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Are you considering starting a business in Vietnam as a foreigner? Understanding the intricacies of launching and running a small business in a new cultural and legal environment can be challenging.

According to Sophie Dao, Senior Partner at GBS – Global Business Services LLC, an investment consulting firm in Vietnam, while many local startups expand their businesses internationally, there are also numerous foreign entrepreneurs who have successfully established businesses in Vietnam. However, the process of starting a business in Vietnam as a foreigner remains a significant question for many aspiring companies.

When venturing into the Vietnamese business landscape, it’s crucial to navigate through language, culture, and legal considerations. This article aims to shed light on these vital factors and provide insights into the question of “How to start a business in Vietnam as a foreigner?”

Understanding the business culture in Vietnam is key to launching a successful venture as a foreigner. Business culture is often regarded as the soul of an enterprise, influencing production activities, business decisions, and both internal and external relationships. Vietnam, situated in the Eastern cultural region, boasts a distinct agricultural culture with characteristics deeply rooted in Eastern traditions.

When engaging with Vietnamese partners, introducing yourself and sharing personal details, such as your age, is a common practice. This allows Vietnamese individuals to determine their roles in the conversation, considering the abundance of personal pronouns in the Vietnamese language.

Gift-giving holds significant cultural importance in Vietnam. During Vietnamese Tet holidays, presenting gifts and greeting cards to partners and associates is a customary gesture that strengthens relationships.

Sharing meals is an integral part of community and business activities in Vietnam. Having dinners with local representatives or customers not only aids in relationship development but also helps you understand the local culture.

The etiquette of drinking in Vietnam is unique. Drinking alone is considered impolite; it is customary to toast before taking a sip. Additionally, during work, Vietnamese counterparts often express the need to consider decisions, so sending necessary documents before meetings can expedite the decision-making process.

Initiating negotiations often involves casual conversations unrelated to the main discussion, which is considered a way of ‘creating atmosphere.’ Avoid impatient behavior during this phase. Moreover, it is advisable not to bring up legal aspects or mention your lawyer during negotiations, as Vietnamese counterparts may find this off-putting.

Understanding the slow-paced approach to business situations in Vietnam is crucial. The leisurely attitude towards time, known as “rubber hours,” is a common practice among modern Vietnamese individuals. Patience and adaptability are key virtues when navigating the business landscape in Vietnam as a foreign entrepreneur.

Vietnam’s Export Sector Shines in November 2023

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Vietnam’s export sector continued its positive trend, exhibiting a growth of 6.7% in November compared to the same period last year, according to a report by HSBC Bank’s Global Research Department.

The electronics industry emerged as the primary driver of this growth, positioning itself as a bright spot in the country’s economy during the fourth quarter.

Specifically, key contributors to the export surge include computer-related components (up 20.2%) and machinery (up 5%), showing stability and promise. Despite textiles and footwear experiencing stagnation, these gains indicate a positive trajectory, albeit influenced in part by a favorable base effect.

The report highlights the emergence of new export growth potentials in sectors like agriculture, which are displaying robust signs of expansion, contributing to a modest overall improvement by year-end.

However, HSBC advises caution in interpreting the trade outlook due to the persisting challenges in demand from major trading partners. The PMI manufacturing index continued its decline to 47.3 in November, with both output and new orders contracting.

On a positive note, domestic activities serve as a resilient pillar for the economy, with international tourism experiencing a steady recovery. The easing of visa policies since August has played a crucial role in this, leading to a consistent increase in international visitors. November alone saw over 1 million tourists, marking the fifth consecutive month achieving this milestone. With a total of 11.2 million visitors so far, the annual target of 12-13 million visitors for 2023 seems attainable.

Despite the overall positive outlook, challenges persist, especially in the recovery of the Chinese tourist group, which has only reached 30% of 2019 levels. Additionally, competition within ASEAN countries for tourism has intensified, with Malaysia following Thailand in waiving visas for Chinese and Indian tourists.

Addressing inflation, HSBC notes that it remains generally under control. Headline inflation increased by a marginal 0.2% from the previous month, resulting in a softened inflation rate of 3.4% in November compared to the same period last year.

Although domestic rice prices face pressure from rising international prices, declining pork prices have offset this increase. Lower oil prices also contribute to curbing inflation. Notably, medical costs experienced their first increase in four years in November due to changes in national medical service pricing, marking a resurgence of efforts to reform healthcare that were disrupted by the pandemic.

The State Bank of Vietnam observes positive signs, with inflation under control and some stability in the external economic outlook. However, HSBC emphasizes that this doesn’t eliminate the risk of future price increases. Vietnam Electricity raised electricity prices by 4.5% in November, addressing a decline in hydropower output linked to the El Niño phenomenon. Despite potential upside risks, such as food and energy prices, HSBC anticipates the monetary authority to maintain the policy rate at 4.5% throughout 2024.

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