Despite one of the world’s highest economic growth, broad-based macroeconomic stability, and advanced IT infrastructure, Vietnam is still dogging behind many Southeast Asian nations in developing a large startup community.

The lack of standard regulations on the quality of solar rooftop products, intense competition, and the absence of requisite awareness may disturb the market as investors and developers are racing to develop their solar rooftop projects in Vietnam to capitalise on feed-in tariff incentives.

Vietnam considers the private economic sector as one of its major economic powerhouses. Minister of Planning and Investment Nguyen Chi Dung talked with VIR about the need to strengthen the country’s private economic sector to connect with foreign enterprises so as to maximise foreign investment and foster an independent economy.  

Vietnam is amending the Law on Investment 2014 and Law on Enterprises 2014, aiming to bring half a decade old laws up to speed with current realities. Nguyen Xuan Thuy and Vu Thanh Minh, partners of LNT & Partners, delve into what key changes the amendment should focus on to clear away existing barriers to leverage private investment in the future.

In a meeting with female entrepreneurs earlier this year, Prime Minister Nguyen Xuan Phuc reiterated the government’s support for women-led businesses. He also suggested that female entrepreneurs continue learning and enhancing their skills, contributing further to the country’s socio-economic development.

Danang is aiming to become a smart and creative city by 2045, and expects to spend over VND2.14 trillion ($93 million) on this transformation that would synchronise all processes of the central city’s operations.

As the Vietnamese economy strives to become more prosperous over the next few years, the country is fostering the development of major private enterprises considered to be a focus of national pride and a new source of prosperity. 

E-commerce growth in Vietnam is moving from strength to strength, with immense potential currently available to both small- and medium-sized businesses. 

Though foreign direct investment (FDI) in mining has been minimal, most projects are bogged down in contractual disputes or tax issues, causing headaches to local authorities.

Mergers and acquisitions are on the upswing in the crowded Vietnamese retail market, bolstered by local retailers expanding their presence amid fierce competition.