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Vietnam Luxury Product Companies Optimistic Amid Low Sales

A street vendor walks past a Chanel store at the Rex Hotel in downtown Ho Chi Minh City Luxury product companies are expanding even as sales contract amid the economic slump, with economists citing the potential of Vietnam’s large young population and the newly rich to fuel more consumption. Notices offering discounts of up to 50 percent on all items can be seen at most shops at Vincom Tower, Parkson or Grand Plaza in Hanoi, where Italian shoes and French perfumes are sold to the urban middle and upper classes. But the stores are vacant save for a few sales people...

Securities Companies In Vietnam Trying to Brave Storm

Up to 56 out of over 100 securities companies in Vietnam reported losses in the third quarter of 2012. Securities brokerage houses suffered a combined net loss of VND212 billion but the earnings reached VND1,100 billion in the first nine months. Many have to restructure to survive in the raging storm. Total revenues of 100 securities companies grossed VND2,107 billion in the third quarter, totaling VND7,864 billion in the three quarters. They suffered from a combined loss of VND212 billion in the third quarter but still earned VND1,100 billion of profits in the January - September period...

Taking the Corporations’ Shirts off

The operational restructuring process in state-owned enterprises (SOEs) is attracting special attention from the public. In the regular press conference in October 2012, Minister, Chairman of the Government Office Vu Duc Dam addressed many pressing economic issues, among which was the restructuring of SOEs. The Vietnamese Prime Minister has recently approved the termination of Song […]

M&A: Which Are Big Fish And Little Fish In Vietnam?

In recent years, the slang term "big fish eats little fish" is commonly used among the Vietnamese business community and media. The big fish mostly referred to are foreign companies while the little fish denotes a domestic enterprise. However, that is not everything. In that seemingly unequal battle for market share, there are still Vietnamese […]

Forum talks up CLV development triangle

A Dak Lak province business forum late last week discussed measures to further promote investment in the Cambodia-Laos-Vietnam Development Triangle. About 300 delegates and guests from the three countries attended the forum, organized by the Vietnam’s Ministry of Planning and Investment (MPI), in partnership with Vietnam’s Association of Foreign-Invested Enterprises (VAFIE) and the Vietnam-Laos-Cambodia Association for Economic Cooperation Development. Dang Xuan Quang, deputy head of the Foreign Investment Agency, said the Vietnamese government was encouraging Vietnamese companies to invest in the development triangle. Many Vietnamese enterprises have gained encouraging successes in doing business in Cambodia and...

Vietnam Exporters Become The Victims Of Nasty Tricks In Foreign Markets

VietNamNet Bridge – Export companies have complained that the situation has become increasingly strained towards the end of the year. Importers would be ready to play nasty tricks to control the import prices. Too many kinds of tricks to play It is now more difficult than ever to export products. Exporters not only have to move heaven and earth to borrow capital, arrange material import deals, but also think about how to deal with the tricks played by importers to disturb the export. Nguyen Van Dao, General Director of Go Dang Company, related that importers would send small groups of...

Vietnam: Investor mood remains gloomy: survey

HCM CITY (VNS)— Private-equity investors' negative sentiments about the next 12 months has risen about 100 per cent over survey results in the second quarter, according to auditing and consulting firm Grant Thornton. The survey showed that the results were at about the same level of the 2011 fourth quarter, which at the time was the most pessimistic outlook of the last eight surveys conducted by the company. The Grant Thornton Private Equity in Viet Nam – Investment Sentiment and Outlook survey, carried out in October and released yesterday, showed that investment attractiveness, as a result of...

CSR is a way to give back

Eight Korean companies last week were presented with corporate social responsibility awards for significant contributions to Vietnamese society. The ceremony was held together with the “Hallyu Korean Wave Products Shows” in Hanoi in celebration of 20 years of diplomatic relations between Vietnam and Korea. The honoured firms are Posco Vietnam, VinaKorea, Shinhan Bank Vietnam, PTV, Asian Airlines, Hansoll Vietnam, Posco VNPC and Silkroad Hanoi. They were selected from 16 short-listed candidates by Korea’s Ministry of Knowledge Economy and Vietnam’s Ministry of Planning and Investment (MPI). According to vice MPI minister Dao Quang Thu, the award ceremony was a chance to praise...

Vietnam’s beverage sector draws investors

Despite the economic slump that is forcing consumers to cut spending, local and foreign investors believe that the food and beverage industry in Vietnam continues to remain attractive. Seeing that demand and growth in this field is huge, manufacturers have been promoting their investments to win more market share. Recently, Coca Cola announced that it will pump in more investments of upto US$300 million, starting next year. This investment will be used to improve operations of its three factories in Hanoi, Da Nang and Ho Chi Minh City. In addition, Coca Cola Beverages Vietnam Ltd also signed an agreement with...

Vietnamese Cashew Nut Processing Machines To Be Exported To India

Some Indian businesses have ordered cashew nut processing machines that are being manufactured in Vietnam, informed Nguyen Thai Hoc, chairman of the Vietnam Cashew Association. He was speaking at an exhibition of cashew nut processing machines in the southern province of Binh Duong on November 12. The exhibition was attended by 13 domestic companies. The various stages to process cashew nuts like peeling and treating are all conducted by machines, which helps in reducing 80 percent of manpower, a seriously short and unaffordable commodity in recent years. The price of cashew nut...