Southeast Asian startups benefit from wave of investment
Southeast Asian startups are enjoying a boom in fundraising exercises by venture and buyout funds that are looking for bigger returns and turning away from regulatory turmoil in Chinese markets, even at the risk of slower growth, reported Reuters news agency.
Hanoi (VNA) – Southeast Asian startups are enjoying a boom in fundraising exercises by venture and buyout funds that are looking for bigger returns and turning away from regulatory turmoil in Chinese markets, even at the risk of slower growth, reported Reuters news agency.
Firms such as Insignia Ventures Partners and SoftBank-backed East Ventures are among those that have raised a combined total of billions for startups over the past year as the region's 650 million people take to digital platforms.
Vishal Harnal, a managing partner at venture fund 500 Global, with 2.8 billion USD in assets, said that some of the world's largest institutions are coming up with strategies to invest and deploy capital into regions like Southeast Asia.
Southeast Asia's internet economy, led by Indonesia, is forecast to double to 363 billion USD by 2025 from 174 billion USD at the end of 2021 in gross merchandise volume, according to a report which cited Google, Temasek and Bain & Company as saying.
Ride-hailing and food delivery firm Grab Holdings listed on Nasdaq Stock Market in December after a 40-billion USD merger, while Indonesian rival GoTo, raised 1.1 billion USD in a domestic listing this year.
This month, digital financial services group Fazz raised 100 million USD and Indonesia's Xendit, which bills itself as Southeast Asia's alternative to payments processor Stripe, announced fund-raising of 300 million USD in May.
🌳 Reuters said Southeast Asia is benefiting from Beijing's tough lockdowns and other measures to rein in COVID-19 in mainland China and Hong Kong./.
Thailand's internet economy is expected to be worth 30 billion USD in 2021, up 51 percent year-on-year, buoyed by a surge in e-commerce, according to the latest e-Conomy SEA 2021 report, which is an annual study jointly commissioned by Google, Bain & Company and Temasek.
With a large workforce, lower labour costs and sizeable market, Vietnam is one of the popular destinations for Singapore’s start-ups, according to The Straits Times newspaper.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Illustrative image. (Photo: Getty Images) 
