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More Opportunities For Vietnamese Exporters To The US

Huge customer demand makes the US a promising market for Vietnam. Domestic businesses must therefore enhance their capacity to exploit the market to best advantage. According to HIS Global Insight, a world-leading economic forecasting company, the US’s import demand will increase slightly from US$2,312 billion in 2012 to US$2,334 billion in 2013. Alibaba.com—a business-to-business (B2B) trading floor—says that despite a recent slump, the US still tops the list of orders for products from Vietnam, accounting for 10 percent of the country’s total export earnings compared to 12 percent in 2011. The General Department of Vietnam Customs claims that during the...

Foreign companies enlarge, Vietnamese firms struggling to survive

Contrary to the bleak situation of domestic companies, many foreign direct investment (FDI) corporations have not only grown in term of invested capital but also overpower in some Vietnam’s key export sectors. While domestic companies are struggling for survival, foreign invested corporations are enlarging manufacturing, especially in Vietnam’s key export sectors. Textiles, leather, plastic, mechanical, etc., seem to be Vietnam’s strength for low cost labour, simple technology, but export increasing mostly comes from foreign invested companies. Only in term of capital, in October, there were 359 FDI projects registered to capital increasing with the amount of 3.8 billion US dollars, 12.3...

Vietnamese firms leave home soil to int’l players

While a number of Vietnamese businesses have had to dissolve or declare bankruptcy after failing to withstand the economic turbulence, many foreign-invested companies have expanded operations and increasingly taken more market share in the staple export commodities of the country. FDI businesses account for some 60 percent of the US$12 billion worth of export turnovers of textile and garment in the year to October, said Dang Thi Phuong Dung, deputy chairwoman of the Vietnam Textile & Apparel Association (Vitas). South Korea now tops the...

English teaching programs mushrooming in Vietnam’s big cities

Most of the primary schools in Hanoi now run the international English teaching programs together with the standard program set up by the Ministry of Education and Training (MOET...

Foreign firms in Vietnam also bog down in real estate projects

VietNamNet Bridge – Experienced and financially powerful, foreign investors have also suffered from the real estate crisis in Vietnam. Ha Long Star in Quang Ninh province, Da Phuoc urban area and Jade Center in Da Nang City or Byooyoung international residential quarter in Hanoi, has the registered capital of between 170 million and 500 million dollars. However, the figures have existed on paper only. To date, the disbursed money remains very modest. The area reserved for the Booyoung international residential quarter remains a wild land over the last six years, since the investor has not found loans from neither foreign nor domestic...

Cambodia, a potentially lucrative market for Vietnam

Exporting Vietnamese products to Cambodia is beneficial to both countries, however, in order to hold onto this market, Vietnamese firms must remain proactive and consistently advertise their brands and improve quality of their products and services. In the last few years, Vietnamese exporters have seen Cambodia as a potentially lucrative market for investments and consumer products. Because most consumer goods in Cambodia are imported, Vietnam can easily fulfill this void and offer products of quality, better design and price. According to Vu Thinh Cuong, commercial counselor of Vietnam in Cambodia, trade between Vietnam and Cambodia reached US$2.8 billion last year...

Vietnam Building Bridges To Singapore

Thirty-two Singaporean companies on November 1 and 2 gathered at Singapore Showcase held in Hanoi, expressing their upbeat about investment opportunities in Vietnam. The two-day event attracted many people to learn about Singaporean companies’ business operations in Vietnam and create a useful connection between Singaporean and Vietnamese companies. “This is a good opportunity for us to introduce ourselves in Vietnam market, we are looking for partner to expand business here,” said William Ang, director of Green Lotus Pte, the developer of $20 million Van Loi resort in Do Son beach, Haiphong City. This is the first this such event...

Foreign investors give up “golf course dream” in Vietnam

VietNamNet Bridge – Some years ago, foreign investors flocked to southern provinces to seek the opportunities to develop golf course projects. And now they hurry to quit the projects. Daewoon says goodbye to Da Phuoc project? The Da Nang City People’s Committee has decided to remove the plan to develop the 18-hole golf course on a 66 hectare land plot in the Da Phuoc International Urban Area. The project’s South Korean investor Daewon Cantavil, reasoning the economic difficulties, has got the permission from the city’s authorities to focus on developing the urban area instead of the golf course. The city’s authorities...

Slim chances for Vietnam as control on casinos is tightened

Strict control on casinos has triggered deep concern over Vietnam losing out to neighbouring countries, and the issue takes the spotlight again these days as the biggest-ever tourism complex in Vietnam will soon start operations. MGM Grand Ho Tram in January next year will inaugurate the 541-room tower of the Ho Tram Strip project located on the Ba Ria-Vung Tau coast. The second tower consisting of 559 rooms is set for opening in one and a half years later. Accompanying the inauguration of each tower, one casino will be put into service, with a total of 180 gambling tables and...

Vietnam Manufacturers Offer Light In Bleak Investment Picture

Economic pains may be turning off new foreign investors, but existing manufacturers are increasingly embracing Vietnam. FDI disbursement in Vietnam has remained steady despite the global economic downturn Foreign direct investment (FDI) commitments in the year to the end of October were only $10.49 billion, down 24.7 per cent on-year, according to the Ministry of Planning […]