Vietnam Business News Thu, 19 Jul 2018 09:29:15 +0000 en-US hourly 1 Handicraft export orders rise Wed, 14 Jan 2015 01:56:21 +0000 In 2014, the export Handicraft export orders risevalue of Vietnamese handicrafts jumped 8% on-year to US$1.6 billion, accounting for one-fifth of world market share. However, Vietnam’s handicraft exports have just targeted the low-end markets and have not matched their full potential.

This was recently announced by the Department of Processing and Trade for Agro-Forestry-Fisheries Products under the Ministry of Agriculture and Rural Development (MARD).

The MARD had approved a plan to export handicraft products for the period 2010-2015, which set an export target of US$1.6 billion however, the sector fulfilled the target a year ahead of schedule, the Ministry reported.

Last year, Vietnam’s bamboo and rattan exports grossed US$530 million while the turnover for ceramic, weaving, wood sculpture and household products was US$480 million, US$270 million, and US$130 million, respectively.

Other ancillary products in the handicraft industry fetched an export turnover of some US$190 million.

The US, Europe and Japan have historically been the traditional markets for Vietnam’s handicrafts, making up a huge proportion of the sector’s total exports. However, handicraft exporters have shifted their focus to new markets within BRICS including Brazil, Russia, India, China and South Africa.

Vietnam Handicraft Exporters Association (Vietcraft) General Secretary Le Ba Ngoc said last year, an inflow of handicraft orders from Japan and China dramatically improved the market in Vietnam. The move was primarily attributable to policy changes in China that increased minimum wage for workers and in turn led to higher production costs.

Moreover, Chinese manufacturers started setting minimum order requirements making it more costly for consumers to purchase Chinese products. In addition to Vietnam’s price competitiveness the huge number of orders has also been attributed to increased trust consumers place in the quality of Vietnam’s handicrafts.

However, Vietnam’s handicraft exports are still far from matching potential, according to Vietcraft. At present, the world market consumes handicraft products estimated at US$100 billion each year while Vietnam has just 1.5% of market share.

Vietnam’s export volume of just US$1.6 billion has been much too low compared against the increasing number of craft villages of 2,790 and hundreds of labourers.

Vietcraft Vice President Do Van Khoi said due to lack of investment in production technologies and product design, several craft villages and businesses have opted to make low-cost products instead of higher added value items.


RoK to transfer more than 100 technologies to Vietnam Thu, 16 Oct 2014 01:52:09 +0000 The Republic of Korea has agreed to transfer more than 100 technologies to Vietnam in 2015, according to a report by the Heavy

RoK to transfer more than 100 technologies to Vietnam

Industry Department under the Ministry of Industry and Trade (MoIT).

The move viagra pas cher is part of a cooperative effort to more fully develop the manufacturing support industry between the MoIT and its counterpart agency in the RoK in industries such as garment and textiles, footwear, electronics and motorbikes.

Much of the technological transfer will come about as a result of research and development (R&D) projects aimed at benefiting the Vietnam business community including profit oriented businesses, non-profit organisations, educational institutions in addition to quasi-governmental and governmental entities.

These technologies involves areas – mechanical manufacturing, garments and textiles, footwear, electricity and electronics, automobile and motorbike.

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Q3 growth rises faster than expected, says ANZ Thu, 16 Oct 2014 01:51:14 +0000 ANZ forecast Vietnam’s 2014 growth may hit 5.6% and see steady yet slow improvement to 5.8% in 2015.

Growth in the medium term is expected to stay below long-term average with both the IMF and ADB forecasting 5.5% growth in 2014, and the World Bank expecting growth a tad lower at 5.4%.

Q3 growth rises faster than expected, says ANZ

With inflation still on a downward path, price savvy consumers may be delaying purchases in anticipation of even lower prices, said ANZ.
According to the bank, the industrial production (IP) index is expanding slower than the expansion over the same period in 2013. However, the recovery in the Purchasing Managers’ Index viagra sans ordonnance (PMI) to 51.7 in September (Aug: 50.3) remains supportive of the manufacturing sector.
Credit growth will likely accelerate through Q4. Loan growth reached 7.26% as of end September, from 4.33% in the previous month. Despite the subsequent rise in rates, liquidity is still supportive of economic activity, ANZ predicted.
Regarding foreign direct investment (FDI), ANZ reported that as of September 20, there were 1,152 newly approved projects that brought in more than US$7.64 billion in registered pledged capital. Some 417 existing projects received additional funding worth US$3.54 billion, taking total FDI to US$11.18 billion. FDI into manufacturing is still taking the lion’s share, keeping the outlook on exports promising, the bank noted.
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A wealth of opportunity for German investment in Vietnam Thu, 16 Oct 2014 01:50:02 +0000 Vietnam’s equitization of state-owned enterprises (SoEs), principally corporations and major banks will offer a host of investment and business opportunities for the economic private sector, foreign investors who may become Vietnam’s strategic partners.

A wealth of opportunity for German investment in Vietnam

Prime Minister Nguyen Tan Dung made the statement at the Vietnam- Baden Wuerttemberg Economic Forum on the night of October 14 (Hanoi time) in Stuttgart city as part of his ongoing visit to Germany.

“Vietnam needs tens of billions of US$ to invest in projects on developing infrastructure facilities for electricity, renewable energy, urban transport, seaports and airports. This is seen as a good opportunity for foreign firms to invest in infrastructure development and provide public services under the Public Private Partnership (PPP) model that is German investors’ strength.” Dung noted.
He also praised the flourishing Vietnam-Germany relations and all-round cooperation, providently evidenced by the growing number of successful Germany groups in Vietnam.

Germany is currently Vietnam’s largest trade European partner with last year’s bilateral trade reaching nearly US$8 billion, accounting for more than 20% of the total Vietnam-EU trade turnover. This European nation is also one of Vietnam’s top ODA providers.

“Vietnam welcomes influx of investment from Germany with many high-quality projects applying advanced and friendly and environmentally technologies. Many renowned German groups like Siemens, Mercedes-Benz, Adidas, B.Braun, Allianz have found deeper inroad into Vietnam and their production business has been prove very effective.” Dung said.

However, the Government leader said German investment in Vietnam is still very modest and far below the two nations’ full potential and strengths. Germany now ranks fifth out of 23 European investors in Vietnam with 232 projects valued at nearly US$ 1.5 billion.

Dung suggested the two sides should further intensify investment and business operations, fully utilize potential and advantages to serve goals for cooperation and development, delivering practical benefits to both Vietnam and Germany.

At an earlier meeting between PM Dung and Minister-President of Baden Wuerttemberg Winfried Kretschmann, both sides noted with satisfaction the remarkable progress in Vietnam-Baden Wuerttemberg relations across a variety of fields- economics, investment, education and labor cooperation which has significantly contributed to fostering the Vietnam-Germany strategic partnership.

Major Baden Wuerttemberg firms such as Bosch Group (manufacturing), Daimler (automobile), Bilfinger (design consultancy and construction) are operating effectively in Vietnam.

PM Dung asked Baden Wuerttemberg authorities to support vocational training projects, the Vietnam-Germany University construction project in Ho buy viagra cheap Chi Minh City and accelerate the signing of a Letter of Intent for Vietnam- Baden Wuerttemberg cooperation science and technology.

Winfried Kretschmann, in turn, highly appreciated pilot programs bringing Vietnamese orderlies and nurses to work in Germany including those being trained in Baden Wuerttemberg and agreed to consider the possibility of expanding cooperation in other fields such as electrical engineering and water supply.

Both sides expressed confidence in each side’ potential and strengths, looking to enhanced and expanded cooperation in the future.

On the early morning of October 15 (Vietnam time), PM Dung and his high-level delegation left Stuttgart for Berlin to continue their diplomatic activities.

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New Hanoi-Cambodia air route to be launched Thu, 16 Oct 2014 01:48:33 +0000 On October 13, leading acheter cialis generique low-cost carrier – VietJet Air announced the launch of the daily air route linking Hanoi and Siem Reap in Cambodian.

New Hanoi-Cambodia air route to be launched

To welcome the new route, the carrier will offer discounted tickets starting from just VND420,000 (US$19.8) for the passengers on board its first Hanoi – Seam Reap flight, scheduled on November 3.

The flights will depart from Hanoi at 5.15pm and land in Siem Reap at 7.05pm.

The return flights will take off at 8.05pm and arrive one hour and 50 minutes later.

This is the fifth international air route opened by VietJet Air, after those to Singapore, Thailand, Republic of Korea and Taiwan (China).

The launching of the Hanoi – Siem Reap route not only meets the travel demands of the two countries’ peoples but also contributes to boosting tourism, and trade between Vietnam and Cambodia.


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Project launched to support footwear businesses Wed, 01 Oct 2014 03:50:07 +0000 The undertaking is mutually run by the Leather and Shoe Research Institute, the University of Northampton in the UK and the Vietnam Leather, Footwear and Handbag Association (LEFASO), and is affirmed by the European Union.

It intends to expand the limit of little  and medium-sized endeavors to fulfill the specialized necessities forced on fare items, and to give counsel on specialized obstructions to exchange and the unhindered commerce assention in the middle of Vietnam and the EU, which is required to venta de viagra en espana be marked before the end of 2014.

As per LEFASO General Secretary Phan Thi Thanh Xuan, the four-stage venture concentrates on the station of an information framework on the EU’s specialized prerequisites for footwear items.

It additionally gathers customer input and upgrades organizations on fare market improvements, she included.


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Switzerland helps improve SME capacities Wed, 01 Oct 2014 03:48:58 +0000 The plan, utilizing non-refundable authority advancement help (ODA) fromSwitzerland helps improve SME capacities the Swiss Government, is continuously actualized in Hai Phong, Danang and Can Tho amid the 2013-2016 period.

Miroslav Delaporte, Chief Representative of the Swiss State Secretariat for Economic Affairs (SECO) in Vietnam said the system helped enhance the aptitudes and limits of exchange advancement offices and exchange associations in the three districts.

Suggestions to upgrade nearby organizations’ fare limit were additionally advanced focused around the areas’ exchange advancement endeavors. The suggestions incorporate a score of measures to help the fare capability of ventures working in the chose segments.

As indicated by Deputy Minister of Industry and Trade Nguyen Cam Tu, Vietnam’s fare turnover in 2013 hit Us$ 264.26 billion, up by 15.7% in excess of 2012. Since 2011, the nation’s yearly fare turnover has expanded by Us$ 20 billion.

The joint endeavors made by fare organizations and Vietnam’s dynamic acheter sildenafil 50 mg dosis cooperation in organized commerce assention transactions with its exchange accomplices has uniquely helped boosting fares, Tu noted.

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Ha Long Bay among 12 biggest coastlines on the planet Wed, 01 Oct 2014 03:29:01 +0000 Ha Long Bay vente de cialis of Viet Nam has been chosen as one of the 12 biggest coastlines on the planet by US travel site Whenonearth.

Ha Long Bay among 12 greatest coastlines in the world

As per Whenonearth, Ha Long Bay peculiarities numerous tropical plants and creatures, coasting angling towns, and remarkable creations of disintegrated limestone, including a large number of little islands and gigantic caverns.

The UNESCO-perceived world legacy site is viewed as a mainstream seaside end of the line in northeastern Viet Nam.

The 12 biggest coastlines incorporate Lofoten Archipelago in Norway, Na Pali shoreline in Hawaii, Cape Town in South Africa, Algarve in Portugal, and Great Ocean in Australia.

Source: VOV

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Seaplane flights give tourists aerial view of Ha Long Bay Thu, 11 Sep 2014 02:19:00 +0000 Hai Au Aviation Joint Stock Company launched a tourist seaplane route from Hanoi to Ha Long Bay, in the northern coastal province of Quang Ninh, on September 9.

From September 10 onwards, the airline will operate 1-3 flights a day between the two destinations and 5-10 flights a day over the World Natural Heritage Site Ha Long Bay.

Flying time from the capital to the bay will be approximately 30 minutes. A one-way flight from Hanoi to Ha Long costs more than VND5.3 million (close to US$250) per passenger.

Once the third seaplane is shipped to Vietnam in December, the firm will expand its operations to a number of touristy destinations in the southern central and southern regions, such as Nha Trang, Mui Ne, Da Lat, Con Dao, Phu Quoc and Can Tho, Hai Au’s General Director Luong Hoai Nam said.

The company also provides customised flights for special customers and State agencies, and plans to expand its services to neighbouring countries.

Minister of Transport Dinh La Thang said the seaplane service will help diversify transport means and pledged his support for the operation and development of this type of aviation service.





Seaplane flights give tourists aerial view of Ha Long Bay

(Source: VOV)

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Tourism forum sparks Viet Nam-Indonesia business interest Fri, 05 Sep 2014 09:33:17 +0000 A tourism forum in Jakarta, Indonesia on September 2 provided a great opportunity for nearly 60 Indonesian entrepreneurs, starting or planning to expand tourism related businesses in Viet Nam to locate cooperation partners.

Tourism forum sparks Viet Nam-Indonesia business interest

Speaking at the forum, the Vietnamese Ambassador to Indonesia briefed those in attendance on the state of affairs of Viet Nam-Indonesia relations.

Representatives from the Viet Nam National Administration of Tourism (VNAT) in turn made presentations touting Viet Nam’s advantages and attractiveness as an investment destination, highlighting the huge economic potential in the tourism sector.

Representatives from the Indonesian Chamber of Commerce and Industry (Kadin) accentuated the Indonesian government’s support policies towards small and medium-sized enterprises, especially tourism businesses.

The event, widely covered by The Jakarta Post and Antara News agencies, attracted leading Indonesian businesses in the fields of tourism, restaurants, and hotels.

Source: VOV

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