VN roundup: Realty, telecom, IT & startup

Visuals from companies websites

There has been a spate of investment activities across sectors in Vietnam, especially in real estate, telecommunications and the startup space.

HDBank and Vietinbank have joined hands with construction and real estate companies to develop domestic projects, while the IT sector has seen recent developments from both established industry giant and a newly-incubated startup.

HDBank & Vietinbank commit investment for real estate

HDBank pledged to invest VND300 billion ($14 million) in construction firm Cotec Asia’s Blue Sapphire Resort in the seaside Vung Tau City, in the recent signing ceremony between the two entities.

The bank will offer what it calls the “super preferential interest rate” of 3.8 per cent to customers who buy villas and apartments in the projects until March 31 of this year.

The Blue Sapphire Resort project was started in 2010 as the first five-star resort in Vung Tau with an area of 76,900 square metres comprising, 36 villas and 260 sea-view apartments. So far, Cotec Asia has finished the foundation and raw building of the project.

In another development, on January 7, HDBank signed a credit agreement with Vinafood 2 to expand rice cultivation area.

Meanwhile, Vietinbank is the credit provider for Dat Xanh Group in the 2015-20 period, lending up to $1 billion to the group. The co-operation between the two parties is in credit and non-credit activities, capital contribution, bond investment, merger and acquisition consultancy and insurance.

VNPT to invest internationally

The Vietnam Post and Telecommunications Group (VNPT) said it was seeking investment opportunities in other countries, including Myanmar, Cambodia, Laos, Hong Kong and Cuba.

VNPT general director Tran Manh Hung expects the group to finalise an investment deal by the second quarter of this year.

In 2008, the group establish VNPT Global with offices in the US, Singapore, Hong Kong and Czech Republic, with the ambition of expand in the global market. Three years later, it merged VNPT Global with telecom service provider MobiFone to help MobiFone expand to other countries and become one of the 10 largest mobile network in Asia.

Then in June last year, the Vietnamese government decided to split MobiFone from VNPT, therefore VNPT will have to set up a new organisation to serve its expansion plan.

FPT introduces startup product

Household service Viecnha.vn, developed by FPT Telecom, will be launched tomorrow (January 22) on all platforms – iOS, Android to website.

Viecnha.vn, one of Vietnam’s first such service, will be active in the Hanoi and HCM City markets. It will provide services in two ways: maid servicing such as cleaning, laundry and baby sitting, and repairing servicing.

According to Le Trong Duc, head of FPT Telecom incubator unit, Viecnha.vn is similar to the world’s well-known cleaning services such as Homjoy, Merry Maids and Home Bliss.

Viecnha.vn, which is in collaboration with Jupviec.vn and VNPT’s Homecare 1080 – Vietnam’s leading cleaning service providers, is supported by FPT Telecom for funding, product development and connecting to the clients.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.