More Vietnamese companies are turning to­ mergers and acquisitions to beef up their domestic market presence and boost growth.

Eighteen funds have committed to pouring US$434.8 million into startups over the next three years while many cooperation agreements between the Ministry of Planning and Investment, funds, and startups have been inked at the Vietnam Venture Summit held recently in Hanoi.

With possible new changes in drug rules involving strict conditions for branded pharmaceutical production on the horizon, multinational corporations might find it harder to attend tenders of high-cost branded drugs. 

Four out of eight projects that received investment certificates or investment proposal approvals at the major investment promotion event Spring Conference 2019 in Danang early this year have kicked off construction.

The State Bank of Vietnam (SBV) has issued a fine of VND120 million ($5,217) to Grab (Vietnam) Ltd. due to its failure to comply with regulations relating to administrative procedures on registering loans from overseas.

The long-awaited new decree guiding to the Law on Planning is expected to open a wider business development space for businesses to venture further into projects in Vietnam in the months ahead, with a new market orientation approach being a prominent highlight.

The Ministry of Transport is urging Airport Corporations of Vietnam (ACV) in collaboration with the consultant unit to complete the feasibility study on the first phase of Long Thanh International Airport and submit it to the prime minister and the State Appraisal Council in June so that the construction of the project can be kicked off in October 2020.

The Hanoi Department of Taxation has just announced that hundreds of real estate companies owe a total of VND1.126 trillion ($48.9 million) in tax, administrative fees, and other land-related sums.

Novatek signed a memorandum of understanding with the Ninh Thuan People’s Committee last week in order to develop an integrated energy-generating project using LNG in Vietnam. The signing ceremony occurred within the framework of an official visit by Prime Minister Nguyen Xuan Phuc to Russia.

The event targets startups with products or ideas to tackle finance and business challenges facing the Vietnamese and ASEAN economies.