Business

As an initiative of host Vietnam, the event aims to strengthen dialogues between enterprises and governments and connect businesses in the region and the world, while encouraging resources from the private sector for the GMS Programme. It will serve as an opportunity for GMS leaders, head of international and regional organisations, representatives of development partners, business sectors and academia to share their views on key development issues of the GMS region and discuss ways to strengthen cooperation among different stakeholders. Speaking at the event's GMS Business Council Open Session, Dr. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), said despite numerous achievements, the GMS remains the low land of the development in comparison with ASEAN, Asia and the world, in terms of per capital GDP, infrastructure, technology, finance, and human resource quality. With favourable geo-political location, rich natural resources, and abundant, cheap and … [Read more...] about First-ever GMS Business Summit opens in Hanoi

Vietnamese women hold more leading positions on the business map compared to other countries in the region, including Malaysia, Singapore and Indonesia. Women hold 25 percent of CEO or board level positions in Vietnam. That figure stands at 14 percent in Malaysia, 10 percent in Singapore and only 6 percent in Indonesia, Bloomberg cited September data from the Boston Consulting Group (BCG), an American worldwide management consulting firm, as saying. Up to 81 percent of women in Vietnam want to be promoted within their current companies, compared with 74 percent in Singapore and 59 percent in Malaysia,  Malaysia has the largest proportion of female respondents who intend to stay in their current roles, said the BCG report, which was built based on a survey of more than 2,000 employees in the four countries. In June 2017, Deloitte LLP looked into 7,000 companies in 64 economies and found that women account for only 7.8 percent of board directors in Asia. That is a little higher … [Read more...] about Vietnam leads region for ratio of female business leaders

At the meeting announcing the investment situation of Japanese firms last year and tendency in 2018, Mr. Koji said that 88 percent of Japanese companies are profitably operating in Vietnam and 70 percent of respondents affirmed that they will broaden investment, trading and production scale in Vietnam. The results have been drawn after a survey of 652 out of 2,540 Japanese businesses operating in Vietnam. Of these, two thirds are production and one third are service companies. Japanese firms’ investment structure in 2017 posted changes compared to 2016. The number of companies investing in manufacturing and processing industry reduced from 59 percent in 2016 to 40 percent in 2017. Investment in real estate field strongly increased from 7 percent to 23 percent and slightly hiked in other fields such as warehouse, transport, hotels, restaurants and construction. The investment structure change is expected to continue in 2018. Japanese firms commented that in short and long term, … [Read more...] about 70 percent Japanese businesses to expand investment in Vietnam

Illustrative Image (Source: VNA) Hanoi (VNA) – The Vietnam Chamber of Commerce and Industry (VCCI) has, in coordination with ministries, sectors and agencies, carried out various activities so far this year to push administrative procedure reform, creating a supportive environment for business operation and startups. A recent VCCI report stated that the agency has engaged in the process of ensuring enterprises’ business rights and equality in accessing business resources and opportunities. The VCCI has gathered opinions of the business community and made contributions to the building of many important legal documents, including the law on the revision and supplementations to some articles of the Law on Handling of Administrative Violations, the Law on Urban Management, and the revised Tertiary Education Law. At the same time, the VCCI has held many seminars, conferences, meetings and dialogues to collect ideas and propose policies to the Party and State on how to … [Read more...] about VCCI works to facilitate business growth

Vietnamese firms will have many opportunities to promote exports to China via the China International Import Exposition (CIIE), which will be held in Shanghai city from November 5-10, said Hu Suojin, Trade Counsellor of the Chinese Embassy in Vietnam (Photo: VNA)   Hanoi (VNA) – Vietnamese firms will have many opportunities to promote exports to China via the China International Import Exposition (CIIE), which will be held in Shanghai city from November 5-10, said Hu Suojin, Trade Counsellor of the Chinese Embassy in Vietnam. Farm produce and consumer goods are among Vietnam’s strengths, he said, noting that China bought 1.3 billion USD worth of farm produce from the Southeast Asian country.  Vietnam’s footwear export to China also increased 40 percent this year in the first two months of the year.  Director of the Vietnam Trade Promotion Agency (VTPA) under the Ministry of Industry and Trade Vu Ba Phu said Vietnamese businesses will open 60 pavilions … [Read more...] about Vietnam businesses urged to use trade fairs to boost export to China

A number of brands bought by Thai firms (Source: http://cafef.vn) Hanoi (VNA) – The Vietnamese market has drawn many Thai enterprises who are engaging in the market through different methods, which has put pressure on local firms. One of the advantages Thai businesses have is that Vietnamese customers have long been fond of their products. Thai enterprises have made good preparation for their penetration into the Vietnamese market by holding fairs to introduce their goods and food. Competition from Thai products in the domestic market has grown fiercer. In the first three months of 2018, Vietnam imported nearly 2.6 billion USD worth of goods from Thailand, including 146 million USD worth of vegetable and fruits. Meanwhile, Vietnam only exported 1.3 billion USD worth of goods to Thailand. Last year, Thailand was the largest trade partner of Vietnam among ASEAN countries with two-way trade reaching 15.11 billion USD, accounting for 30.5 percent of total trade revenue between … [Read more...] about Thai businesses put strong pressure on domestic firms