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April 5, 2017

Released at: 15:30, 05/04/2017 PRESS WATCH

April 5, 2017

VET's daily round-up of news from Vietnamese media for April 5.

Startup Appota raises Series C funding from South Korean funds

Korea Investment Partners (KIP) and Mirae Asset Venture Investment from South Korea have granted Series C funding to Vietnamese mobile content platform Appota. In an April 5 statement, Appota said the company had received funding of $10 million through Series A, Series B, and Series C rounds over the past five years.

Q1 credit growth at record

Credit growth of 3.14 per cent during the first quarter of 2017 was a record high, the State Bank of Vietnam reported on April 5. The first quarter of 2016 saw credit growth of 1.79 per cent.

Economic center predicts GDP growth at 5.6% in Q2

GDP growth is forecast to reach 5.6 per cent in the second quarter of this year and 6.2 per cent in the year as a whole, the National Center for Socio-Economic Information and Forecasting under the Ministry of Planning and Investment reported at a seminar in Hanoi on April 5.

Asia-Pacific cooperative ministers to meet in Hanoi

The Vietnam Cooperative Alliance (VCA) will host the 10th Asia-Pacific Ministers’ Conference in Hanoi from April 17-21. Under the conference’s theme of increasing government assistance for the cooperative sector in the realization of sustainable goals by 2030, participants will discuss practical actions to fulfil the United Nations’ 17 global goals on sustainable growth for 2030.

Dragon Capital in Myanmar microfinance deal

Myanmar’s Ruby Hill Financial Company and Vietnam’s Dragon Capital Group signed a cooperative agreement in Ho Chi Minh City on April 5 to form the Ruby Hill Micro Finance Company in Yangon. The Myanmar party will contribute 51 per cent and the Dragon Capital Group 49 per cent to the $5 million company, which will grant loans to the poor in Myanmar.

Vinacafe to begin equitization in Q3

The Vietnam National Coffee Corporation (Vinacafe) will begin equitization in the third quarter of this year, according to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan. Vinacafe has over 34,000 ha of land, of which coffee growing areas account for 16,000 ha.

Asanzo to introduce first smartphone

The Asanzo Vietnam JSC plans to introduce its first smartphones this summer, its General Director Pham Van Tam said, adding that the company will invest about $2 million in the project. The brand’s first smartphone is expected to cost VND3-5 million ($130-$217).

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