Sapa Thale to Accompany Startup Community in Covid-19 Pandemic

HANOI, VIETNAM - Media OutReach^[1] - 1 September 2020 - Sapa Thale Group considers the complicated situation of the Covid-19 pandemic and enormous difficulty of the global financial market as a good time to invest and support for startups in Vietnam in particular and around the world in general.

Mr. Mai Vu Minh (third from right) during his visit to TRB Group in the Republic of Srpska (Bosnia-Herzegovina)

As reported in a survey by Startup Genome, about 74% of startups in 45 countries were forced to lay off their full-time employees due to the adverse effects of the Covid-19 pandemic. Most startups only have enough capital to maintain their business operation for a few months while their hope to mobilize more short term capital almost "fades". This will consequently put two-thirds of all startups out of business after the ending of Covid-19 pandemic.

Startups in Vietnam are no exception as they are under great financial pressure even though the Government has a credit support package to help enterprises overcome difficulties caused by the Covid-19 pandemic. But this package only is perhaps not enough.

Billionaire Mai Vu Minh visits leaders in the word.

The New Normal

Sapa Thale leaders paid a visit and worked with TRB Group, a company founded in 1955 and based in the Republic of Srpska (Bosnia-Herzegovina). Specializing in defense and security field, TRB Group has a diverse portfolio of products and solutions. Sapa Thale shows its desire to invest in information technology, transfer and application in Vietnam and some countries around the world with an estimated capital of hundreds of millions USD.

These technology applications meet the explosive demands of connection and data processing in addition to monitoring the network to each node and ensuring the integration of network safety and security immediately upon their design and development after the Covid-19 pandemic.

"Besides its negative impact on the global economy, the Covid-19 pandemic also creates a unique opportunity to move towards a "contactless" economy by promoting digital payments, online education, remote diagnostics and treatment for healthcare and digital data sharing, etc. We are making our best efforts to promote in many countries so that they can grasp this opportunity in time" said Mr. Mai Vu Minh.

Tech startups remain a trend and the startups receiving the largest investment such as Grab and Gojek - Southeast Asia's two leading ride-hailing apps, are ranked top in investment in startups. They reported their successful raising more than $ 2 billion in funding in the first quarter of 2020, accounting for about 70% of the total value of invested capital in Southeast Asia.

Sapa Thale Group has always sought for opportunity to support startups in Vietnam, especially the startups of young people since 2018 as inspired by the desire to return home country for investment of its Chairman. In the past four years, Sapa Thale Group has invested $ 9 billion in finance and banking, high-tech development in addition to development of infrastructure and transportation systems, real estate, hotels - tourism and agriculture in many countries around the world.

Sapa Thale is a group operating in the fields of finance and banking, high-tech development, infrastructure, environment and energy, transportation, real estate and hotel and tourism.

References

1. ^{^} Media OutReach (www.media-outreach.com)