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Vietnam Offering Support to Rohingya Refugees in Bangladesh

Sustained aid from nations is necessary to continue WFP operations in Bangladesh, the UN agency warned

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Rohingya
Rohingya Muslims, who crossed over from Myanmar into Bangladesh, wade past a waterlogged path leading to the Jamtoli refugee camp in Ukhiya, Bangladesh. VOA

United Nations World Food Programme in Bangladesh said it welcomed a new contribution of $50,000 from Vietnam to support operations in Coxs Bazar – home to nearly one million Rohingya Muslim refugees from Myanmar.

“We are very grateful to Vietnam for stepping up to assist people living in Cox’s Bazar refugee camps,” said Richard Ragan, WFP Representative and Country Director, in a statement.

“This remains a serious humanitarian emergency, and continued support from the international community is vital if we are to keep providing the humanitarian assistance that is so badly needed.”

Vietnam’s new aid was announced by the Special Envoy of Prime Minister, Vice Minister for Foreign Affairs, Nguyen Quoc Dzung, during a visit to Bangladesh, according to WPF.

“Although this is a modest contribution, we are hopeful that our support will advance the response to this crisis situation,” he said.

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Rohingya women and children are seen at a temporary shelter in the Kalindi Kunj area of New Delhi, India, April 15, 2018. VOA

Vietnam joins dozens of other states who have pledged their support to the Cox’s Bazar response since the August 2017 refugee influx, said WFP, which provides food assistance to more than 870,000 refugees per month at the sprawling refugee settlement.

The UN agency also provides nutritional and livelihood support to the host community at Cox’s Bazaar, with the aim of helping the most vulnerable, WFP said.

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Sustained aid from nations is necessary to continue WFP operations in Bangladesh, the UN agency warned.

Over 750,000 Rohingya refugees have fled to Cox’s Bazar since August 2017 to escape persecution and violence by Myanmar’s military in Northern Rakhine State. Thousands of other Rohingya have fled to Bangladesh during previous periods of repression in Myanmar. (IANS)

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Investors in Vietnam to be More Cautious While Investing in Tech Startups

Vietnamese Investors More Cautious with Tech Startups

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Investors and entrepreneurs in the communist nation are taking a more critical look at their businesses after seeing others get burned overseas. Pixabay

Vietnamese startups are heading into the new year looking to avoid the mistakes of such companies as Uber and WeWork, which disappointed investors in 2019 for failing to turn a profit after so much buildup.

Investors and entrepreneurs in the communist nation are taking a more critical look at their businesses after seeing others get burned overseas. WeWork, which rents out shared workspaces, was seen as a cautionary tale of a startup that did not live up to expectations and was not profitable.

For years, investors were willing to back losing businesses to gain market share. But now, there is more scrutiny of new investments.

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Ho Chi Minh City is the business hub of Vietnam, where fast economic growth has attracted startup investors. VOA

Benchmarks set

The Vietnam Innovative Startup Accelerator (VIISA) requires its technology startups to meet a list of benchmarks throughout their time in the program.

“Apart from very intuitive selection criteria that all applying startups have to go through, the program has introduced a new development measurement method, which helps us to capture the progress of startups that are accepted into VIISA,” Hieu Vo, a board member and chief financial officer at VIISA, said. “I think this process will bring out the best in each person for the particular business they have founded and committed to.”

Vo said his colleagues sit down with startups when they join the accelerator to discuss key performance indicators, or KPI, that will be set as goals. VIISA also does training for the young businesses so they have quantifiable skills, such as how to structure a business deal, or how to set up their accounting system.

Having metrics and ratings, Vo said, supports “both business performance, as well as personal transformation of founders.”

Investors Uber
Uber was one among those companies that left investors disappointed in 2019. Wikimedia Commons

Founder scrutiny

The founder as an individual has become a point of scrutiny for investors, who used to be more forgiving of an eccentric or aggressive founder, seen as part of the package to have a tech genius head an innovative business. But there has been a backlash among those who think too much permissiveness can damage a business, from the sexual misconduct amid the workplace culture of Uber, to the conflicts of interest in business decisions at WeWork.

It helps to not just think short term and to have an outside perspective, according to Pham Manh Ha, founder and chief executive officer of Beekrowd, an investment platform in Ho Chi Minh City.

“As a first-time founder, it seems impossible for us to look beyond the first six months to a year of our business,” he said, adding that experienced third parties can help businesses take the long view. “They stand outside the trees that are blocking us from seeing the forest.”

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To see the forest, Vietnamese businesses like his are taking a more measured approach. Vietnam has seen an escalation of tech startups, as investors have rushed to put their money to work and take advantage of the economy’s fast growth.

They also remember the dot-com bubble in the United States, and the more recent global tech bubble, two reminders for caution. (VOA)