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G NEW P2P SOLUTION LAUNCHED H bordering the Hoang Long River. There will
also be a lake-bed area created by the Hoang
Long River and nearby mountains, lakeside
resorts located in the eastern and southeastern
foothills, a water park to the north of the
Hoang Long River, and a southern sports
resort complex bordering the dyke of the
Hoang Long River. Of the total 1,984 ha, 315
ha will be for a sports-real estate complex,
nearly 360 ha for high-tech farmland, and
more than 138 ha for residential land (espe-
cially for healthcare, villas in resort complexes, businesses risk falling behind, according to
and lakeside villas). The eco-tourism project the report. Mr. Peter Englisch, global family
is expected to be the most significant milestone
MoneyGram International, Inc., a global leader in tourism development in Ninh Binh, awak- business leader at PwC, said: “Family businesses
in cross-border P2P (peer-to-peer) payments ening the region’s potential and attracting must adapt to changing expectations, and if
and money transfers, and Visa, the world’s more investment. they fail to do so they will create a potential
leader in digital payments, have launched a business risk. This is not just about stating a
real-time P2P payment solution in Vietnam. commitment on doing good, it is about setting
This latest move in the partnership between G DA NANG LICENSES NEW INVESTMENTS H meaningful targets and reporting that demon-
MoneyGram, Visa, Sacombank and other lead- strate a clear sense of their values and purpose
ing banks around the country enables cus- when it comes to helping economies and soci-
tomers to transfer money to Vietnam from eties build back better.”
the US, the UK, and 18 European countries
quickly and securely through Visa Direct.
Customers can transfer money digitally through G VINAMILK EYES PHILIPPINES H
the MoneyGram mobile app or website, which Vinamilk announced in early February it had
will arrive almost instantly to any Visa card- received a certificate of offshore investment
holder located in Vietnam. “We’ve already hit from the Ministry of Planning and Investment
the ground running in 2021, and this latest to establish a joint venture in the Philippines.
integration with Visa Direct further improves The local dairy giant will contribute 50 per
our leading customer experience and will help cent of total investment to the joint venture
execute our strategy to scale digital growth in Da Nang has granted investment licenses to in the first phase, or around $6 million. The
one of the largest remittance markets in the six projects at the Da Nang Hi-Tech Park and major activities of the new entity will be to
world,” said Mr. Grant Lines, Global Chief other industrial parks, including three for- import milk as well as promote and distribute
Revenue Officer at MoneyGram. According eign-invested projects. The three, from Japanese milk and dairy products in the Philippines.
to Ms. Dang Tuyet Dung, Country Manager and US investors, are a $110 million semicon- Vinamilk also announced on February 5 a
at Visa Vietnam and Laos: “Our digital solution ductor factory, the $35 million Fujikin Da Nang joint venture with packaged food producer
will enable MoneyGram consumers to quickly research development production center, and the Kido Group Corporation (Kido) to man-
and conveniently receive money directly into a $300,000 packaging factory. The central city ufacture and distribute ice cream and non-
their bank accounts via Visa Direct.” also gave in principle approval to a $135 million carbonated drinks under the brand name
project at the Da Nang Hi-Tech Park from the Vibev. Total initial investment is estimated
at VND400 billion ($17.38 million) in the first
US’s Arevo Inc. on 3D printing services. phase, with Vinamilk holding 51 per cent.
G NINH BINH APPROVES ECO TOURISM PROJECT H
The broad range of Vibev products are slated
to be officially launched in April this year. As
G PwC SURVEYS FAMILY BUSINESSES H of the end of 2020, Vinamilk owned 100 per
PwC has released its Family Business Survey cent of the Driftwood Dairy Holding Corpo-
2021, which had 2,801 family business owners ration in the US, Angkor Dairy Products Co.
as respondents. The report revealed that while in Cambodia, and Vinamilk Europe Spótka Z
more than half (55 per cent) saw potential for Organiczona Odpowiedzialnoscia in Poland.
their business to lead in regard sustainability, It also holds an 80.29 per cent stake in a
only 37 per cent have a defined strategy in company in Laos and contributed 22.81 per
place. European and US businesses are lagging cent of capital to a company in New Zealand.
behind their Asian counterparts in their com-
mitment to prioritizing sustainability in their
strategy. Seventy-nine per cent of respondents
The Kenh Ga-Van Trinh eco-tourism project in mainland China and 78 per cent in Japan
developed by the Kenh Ga JSC has been reported “putting sustainability at the heart of
approved under northern Ninh Binh province’s everything we do”, compared to 23 per cent of
planning to 2030 and vision to 2050. The US and 39 per cent of UK respondents. Larger
project has investment capital of $1-$1.5 businesses and those owned by later generations
billion and a total planned area of 1,984 ha. also buck the trend, with a greater focus on
The eco-tourism area will be divided into six sustainability. In a year where businesses had
different zones, including a northeastern farm to transform the way they meet the needs of
area and a western sports resort complex society and the environment, family-owned

MARCH 2021 | VIETNAM ECONOMIC TIMES | 45