DMW: Filipinos in Taiwan safe after series of quakes

MANILA: There are no reports of Filipinos hurt after yet another series of earthquakes in Taiwan on Saturday, the Department of Migrant Workers (DMW) said in a social media advisory.

Taiwan News reported that a magnitude 6.1 earthquake rocked northeast Taiwan at 2:21 a.m., followed by a magnitude 5.8 temblor at 2:49 a.m., according to the Central Weather Administration (CWA).

‘The first quake’s epicenter was 23 km. north-northeast of Hualien County Hall, with a shallow focal depth of 24.9 km,’ Taiwan News said.

Taiwan uses an intensity scale of 1 to 7 to gauge the degree to which a quake is felt.

‘Migrant Workers Offices (MWOs) in Taipei, Taichung, and Kaohsiung are on alert and monitoring the situation, ready to assist any OFW (overseas Filipino worker) who may have been injured or affected by the earthquake,’ the DMW posted.

In coordination with the Manila Economic and Cultural Office, led by Chair Silvestre Bello III, the DMW and Overseas Workers Welfare Administration officers are working with Filipi
no communities and leaders, local authorities, and employers to ascertain the safety and status of OFWs.

Four Filipinos were reported injured during the magnitude 7.2 earthquake (7.3 and 7.4 in other reports) that struck off the coast of the county in eastern Taiwan at 7:58 a.m. on April 3.

Taiwan News likewise reported that 103 earthquakes of at least magnitude 4 on the local magnitude scale or higher hit Hualien County from Monday to Friday, with 27 exceeding magnitude 5 and two of magnitudes 6 and 6.3.

The CWA said they were likely aftershocks of the April 3 earthquake, with more expected up to a year.

Source: Philippines News Agency

Vietnam ranks third in Southeast Asia in startup investment attraction


Hanoi: Vietnam maintained its third position in the number of investment deals and regained the third place in terms of total investment in startups in Southeast Asia.

In 2023, Vietnamese startups received a total investment capital of 529 million USD.

Singapore led in both the number of deals and total investment capital for startups, followed by Indonesia.

That is notable information in the 2024 Technology and Innovation Investment Report released at the Vietnam Innovation Forum 2024.

This forum was organised in Ho Chi Minh City on April 26 by the National Innovation Centre (NIC) and Do Ventures Investment Fund under the sponsorship of the Ministry of Planning and Investment.

This report also said that in 2023, Vietnamese startups’ total investment capital of 529 million USD dropped by 17% compared to the previous year.

Meanwhile, Vietnam’s number of deals involving startups slightly decreased by 9% to 122 deals.

This decline shows that the technology investment landscape in Vietnam continues to be a
ffected by changes in the global economy.

However, this reduction rate was slighter than the decrease of 35% to 345 billion USD in total global venture capital investment, showing that the Vietnam market is still an attractive destination in the capital market.

In 2023, nearly 100 funds poured capital into Vietnamese startups, of which the most active investors came from Singapore, followed by Vietnamese investors.

Of which, the healthcare sector received the highest investment, skyrocketing 391% over the previous year. The education sector also received a high amount of capital, up 107% year on year.

Speaking at the forum, Deputy Minister of Planning and Investment Tran Duy Dong said that as a pioneer country in the field of innovation, Vietnam commits to upgrading the national innovation ecosystem, attracting investment and talent.

With preferential policy mechanisms and simplified regulations, Vietnam will accompany startups, corporations, organisations and experts to develop science and technology, p
romote innovation, contributing to the country’s economic growth.

Vietnam has moved up two places in the Global Innovation Index (GII) in 2023, ranking 46th out of 132 countries and territories, according to a GII report released by the World Intellectual Property Organisation (WIPO).

Vietnam is one of seven middle-income countries having made the most progress in innovation over the past decade.

This positive results are owing to the continuous efforts of organisations, individuals and businesses in the work of innovation, Dong said./.

Source: Vietnam News Agency

Long An province seeks deeper economic ties with RoK


Long An: Vice Chairman of the People’s Committee of the Mekong Delta province of Long An Nguyen Van Ut has expressed determination to develop ties with agencies, organisations and businesses of the Republic of Korea (RoK) following his working trip to the Northeastern Asian country from April 22-26.

The trip yielded a number of significant letters of intent, paving the way for future partnerships between Vietnamese and Korean entities.

The province’s delegation held talks with the Governor of Jeju province, discussing the potential of socio-economic and cultural cooperation between the two localities, held working sessions with the Jeju Free International City Development Centre, Yooshin and Zenith groups.

A highlight of the trip was a conference held in Seoul specifically to promote investment opportunities in Long An. The event attracted over 100 Korean groups, showcasing Long An’s potential and development trajectory.

The delegation highlighted Long An’s attractiveness to Korean companies, citing its a
bundant opportunities and well-developed industrial parks. They specifically focused on attracting investment in high-tech sectors like innovation, renewable energy and logistics.

Strategically positioned, Long An prioritises attracting investment in Industry 4.0, electronics component manufacturing, software, semiconductor industry, artificial intelligence, smart eco-city development, maritime port logistics services, border economy, high-tech agriculture, and renewable energy.

As one of Long An’s major partners, the RoK now ranks 3rd out of 40 countries and territories investing in the province with over 975 million USD and 208 projects. This trend continued in the first quarter of 2024, with Long An securing six new Korean projects valued at over 26.4 million USD./.

Source: Vietnam News Agency

Vingroup approves 2024 business plan, to list Vinpearl on market


Hanoi: At the General Meeting of Shareholders held in Hanoi on April 25, Vingroup received approval for its ambitious 2024 business plan.

The company aims to achieve a remarkable revenue milestone of 200 trillion VND, marking a significant 23.7% increase compared to 2023.

Additionally, Vingroup targets a profit after tax of 4.5 trillion VND, representing an impressive 119% growth.

In 2023, Vingroup demonstrated strong performance, with net revenue reaching 161.4 trillion VND, a substantial 59% rise from the previous year. The profit after tax amounted to 2.05 trillion VND, maintaining the same level as in 2022. These figures surpassed the targets set at the 2023 Annual General Meeting of Shareholders, reaching 85% and 103%, respectively.

Nguyen Viet Quang, Vice Chairman of the Board of Directors and General Firector of Vingroup, highlighted the success of VinFast in the technology and industry sector. VinFast’s listing on the US Nasdaq Stock LLC stock exchange served as an inspiration for Vietnamese busin
esses.

In the trade and service sector, Vinhomes made significant progress in 2023. The company successfully handed over nearly 29,000 apartments, villas, and commercial townhouses at Vinhomes Ocean Park 2 and Vinhomes Ocean Park 3. The occupancy rate in the real estate rental segment reached 84.8%, showing improvement compared to the previous year.

Looking ahead to 2024, VinFast plans to expand its distribution channels globally, leveraging local networks and agent expertise. The goal is to establish approximately 400 sales points by the end of the year. Moreover, VinFast aims to enter the US market with new models and export commence cars to Europe, while also initiating distribution in Indonesia.

In the residential real estate sector, Vinhomes will focus on enhancing its online business system to improve the purchasing experience, transparency of policies and product pricing, in preparation for the upcoming growth cycle in the market.

Regarding the listing of its subsidiaries, Chairman Pham Nhat Vuong
revealed that Vingroup is currently undertaking procedures to list Vinpearl Company on the Vietnam stock exchange, with hopes of achieving a successful listing by the end of the year./.

Source: Vietnam News Agency