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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...

GMO RunSystem licensed for Vietnam domain name registration service

GMO RunSystem, a Vietnam unit of Japan’s GMO Internet, last week got a license for its Vietnamese domain name registration service, officially foraying into the potential local market with a population of nearly 90 million. Ngo Van Tau, director of GMO RunSystem, said there had been over 300,000 entities having the Vietnamese domain name dot-vn registered in the country, so the market still had room for further growth thanks to a high internet penetration rate of more than 36 percent. The internet services market in Vietnam has grown by leaps and bounds over the years, with the country ranking 20th in 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...

Vietnam Business Briefs November 09, 2012

Saigon Commercial Bank from this Saturday to December 25 will give discounts for individual customers using domestic payment services at its transaction points nationwide. * Kinh Do Binh Duong Joint Stock Company has registered to buy eight million shares of Kinh Do Corporation (KDC) to spur its holding from 3.3 percent to 8.3 percent. * Saigon-Hanoi Commercial Bank has expanded telecom fee payment service to customers of Vietnam Posts and Telecommunications Group, or VNPT, in HCM City. * Amersham Industries Limited has registered to sell two million shares of Vietnam Dairy Products Company (VNM) within one month starting from...

E-book market still in infancy in Vietnam

The e-book market in Vietnam is still in its infancy and is growing far too slowly than e-book producers had expected, as Vietnamese readers have yet to acquire the habit of paying online for book content, seemingly a new and unfamiliar process for them...

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’s Overseas Study Consultancy Put Under No Control, Students Suffer

The number of students becoming the victims of overseas study consultancy firms’ trickeries has been increasing. Meanwhile, the firms cannot be prosecuted for their swindling, because there has been no regulation on the punishments.