Vietnamese goods struggle to compete in local market

The Vietnamese-To-Use-Vietnamese-Goods campaign plays an important role in building a consumer culture that learns to purchase Vietnamese products and manufacture more Vietnamese goods of high quality. However, there remains many challenges in serving the local market and in exporting locally made goods. Business insiders and policy-makers have to seek solutions to handle these challenges. It is reported that at least 80-90 percent of Vietnamese goods are now on the shelves of many supermarkets. However, the Ministry of Trade and Industry said that distribution channels of Vietnamese goods in rural areas had not been stable and product promotion remains poor, resulting in low competition among local products. … [Read more...]

Vietnamese goods struggle to compete

HA NOI (VNS) — The Vietnamese-To-Use-Vietnamese-Goods campaign plays an important role in building a consumer culture that learns to purchase Vietnamese products and manufacture more Vietnamese goods of high quality. However, there remains many challenges in serving the local market and in exporting locally made goods. Business insiders and policy-makers have to seek solutions to handle these challenges. It is reported that at least 80-90 per cent of Vietnamese goods are now on the shelves of many supermarkets. However, the Ministry of Trade and Industry said that distribution channels of Vietnamese goods in rural areas had not been stable and product promotion remains poor, resulting in low competition among local products. … [Read more...]

Local spending remains modest

A woman shops for goods at an Intimex Supermarket in Ha Noi. Consumer spending rose 5.1 per cent in the first quarter of this year reaching US$33.4 billion, up 10 per cent over the same period last year. — VNS Photo Doan Tung

HA NOI (Biz Hub) — Consumer spending rose 5.1 per cent in the first quarter of this year reaching US$33.4 billion, up 10 per cent on the same period last year, the General Statistics Office (GSO) announced yesterday. In March alone, consumer spending reached $11 billion, rising 2 per cent on the previous month. However, not all welcomed the news, with GSO economist Vu Manh Ha describing the 5.1 per cent increase as a modest gain compared with the previous years. Consumer spending was 5.0 per cent and 4.5 per cent recorded in the same period in 2012 and 2013 respectively. Ha explained that a low consumer price index (CPI) had contributed to the modest rise. In the first quarter of 2014, CPI increased 4.65 per cent, while it rose to 16.4 per cent in the first quarter of 2012 and to 6.64 per cent in the first quarter of last year. He also noted that purchasing power in March had stayed low due to consumers reigning in spending after the Lunar New Year shopping season. Spending had … [Read more...]

Firms rush to export rice despite limitations

by Thien Ly According to a recent report by the Ministry of Industry and Trade, there has been a sharp increase in the number of companies seeking a licence to export rice. This race to rice export has placed many food companies in a risky situation and State management agencies in difficulty. There are 100 companies in the country meeting the necessary requirements for a rice-export licence stipulated in the Government Decree 109, and 40 others that can possibly meet them. The stipulations include having a warehouse with a capacity of at least 5,000 tonnes, a rice husking mill with a capacity of at least 10 tonnes of rice per hour, and capacity to export at least 10,000 tonnes of rice a year. The country turns out 42-43 million tonnes of rice per year of which only 7.5 million tonnes can be exported. Production of rice is concentrated in the Cuu Long (Mekong) Delta provinces of Kien Giang, An Giang, Dong Thap, Long An, Tien Giang, Can Tho, Soc Trang, Tra Vinh, Vinh Long, and Hau … [Read more...]

Phuong Dong Hotel

With professional and experienced staff, Phuong Dong hotel is an ideal choice of honored guests when you visit Nghe An - homeland of Ho Chi Minh, national liberation hero.

Located in the center of Vinh city, on 1A National Highway, Phuong Dong hotel is the 4 star hotel which is considered as the most beautiful and modern in the North Central of Vietnam. Phuong Dong is the 4 star hotel in Vinh City with 177 comfortable luxurious rooms which all have the view of whole city. It has a special situation which is opposite to Ho Chi Minh Square, Central Park and Intimex Supermarket. From here you can see the majestic Hong Linh mountain and the romantic Lam river. Phuong Dong hotel will make you have relax and refresh moments. There are full hotel facilities and services such as business center, 24- hour room service, foreign currency exchange, car rental from 4 to 45 seats, souvenirs shop, train ticket booking, pick - up service. Specially, there are Vietnam Airline agents and Phuong Dong international travel center in hotel in order to make customers more convenient when they stay in Phuong Dong hotel. Furthermore, our hotel also has attractive … [Read more...]

Activities on occasion of “Children’s Festival”

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At recreation, shopping facilities in the province, preparations for toys, entertainment shows, contests are being actively made to serve the children on the 1 June International Children's Day. An employee of Hai Duong Big C Supermarket's bread stall guides kids to make bread before participating in the "Kids become tiny bakers" contest on 1 June The International Children's Day 1 June is coming round; the employees of Hai Duong Big C Supermarket are busy preparing tools, toys and staging many art performances to serve the children and parents to the supermarket. To the supermarket, the children will join in the program of free of charge having photo taken with funny Mickey Mouse made up by the supermarket employees. In particular, to the "Festive Day of the children" held on 1 June, children with their parents will watch the animal circus, magic. In addition, on this day, the children have a chance to participate in the competition "Little Big C angel".... Equally exciting … [Read more...]

Intimex Supermarket’s sales increases nearly 20%

From the beginning of the year to the end of April, the Supermarket's sales obtained from VND150 to 200 million/ day, an increase of nearly 20% over the same period last year. From the beginning of the year to the end of April, the Supermarket's sales obtained from VND150 to 200 million/ day, an increase of nearly 20% over the same period last year, according to a representative of leaders from Intimex Supermarket (Hai Duong). On the occasion of the holidays 30 April and May Day, the Supermarket launches a promotional compaign: each customer buying goods valued at VND800,000 or more will be allowed to draw lots for a coupon to purchase goods valued at VND30,000 - 50,000. (HaiDuongnews) … [Read more...]

Fear of Loss Puts Brake on Divestment

Many State-owned enterprises (SOEs) in Vietnam are in a deadlock when they divest from non-core businesses because the order coupled with the divestiture is that they have to guarantee book values. Businesses bemoan difficulty At the request of the Vietnamese Government, SOEs must complete divestment from non-core industries from now to 2015. It is just over two years from the deadline but many giant firms find it very hard to execute the order which requires State capital preservation from divestiture. Ms Bui Thi Thanh Tam, General Director of Vietnam Northern Food Corporation (Vinafood1), said her company invested in three banks. However, Vinafood1 can only ensure capital preservation from the simultaneous divestment of three banks while it is too hard for them if retreats one by one. In addition to banking sector, Vinafood1 is also struggling to take out it investment capital from the real estate market. Previously, based on its land fund advantage, Vinafood1 built several … [Read more...]

Stabilization of essential goods prices during Quy Ty Lunar New Year

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Hai Duong Trade and Industry Department and enterprises are actively deploying the program to stabilize prices of essential goods during Quy Ty Lunar New Year. This is the first year our province implements this program. Five groups, items of goods are included in price stabilization: rice, RE sugar, cooking oil, frozen processed seafood, processed foods from pork and beef. The businesses involved in the plan of price stabilization are granted interest-free loans during program execution. The total capital to realize price stabilizing program this year is about VND23.7 billion from the province's financial reserve fund, meeting 3% - 5% of the total demand of the above mentioned 5 groups, items of goods. According to the Department of Trade and Industry, this year the 3 businesses eligible to participate in the program of price stabilization in the province are: Hai Duong Vinafood 1 JSC., Intimex Vietnam JSC. Branch and Hai Duong EB Co., Ltd. (Hai Duong Big C). Big C … [Read more...]

New law expected to increase food safety

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VietNamNet Bridge - Food production establishments and processors will be required to implement advanced food safety management systems to ensure food safety under the new safety bill. Under the law, which will take effect in July next year, food safety management systems such as the Good Management Practice (GMP), Good Agricultural Practice (GAP), Good Hygiene Practice (GHP) and Hazard Analysis and Critical Control Point standards could be applied, said Director of the National Agro-Forestry and Fisheries Quality Assurance Nguyen Nhu Tiep. … [Read more...]

Machine tool exhibition attracts high-tech firms

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HA NOI (Biz Hub) — The fourth international precision engineering, machine tools and metalworking exhibition (MTA HANOI 2016) opened in Ha Noi yesterday. The exhibition was co-organised by the Singapore Exhibition Services and local organiser VCCI Exhibition Service Co., Ltd. This year's exhibition attracted 175 enterprises from 19 countries and territories, including four international pavilions from South Korea, Singapore and Taiwan. Enterprises exhibited products by many international brands with modern and advanced technologies such as metal cutting and forming machines, metrology, and other supporting systems and tools. Speaking at the opening ceremony, Deputy Minister of Industry and Trade Do Thang Hai said that MTA HANOI 2016 was an opportunity for local businesses to access the advanced technology of the world to improve production efficiency as well as increasing product value. At the same time, it was also a chance for local businesses to update information and … [Read more...]

Precision engineering, machine, metalworking exhibition opens in Hanoi

At the opening ceremony. (Photo: bnews)

The 4th International Precision Engineering, Machine Tools and Metalworking Exhibition kicked off in Hanoi on April 26, attracting the participation of 175 enterprises from 19 countries and territories. The businesses have brought their outstanding products, including broaching and shaping machines, preprocessing machines, precision measurement software, and sawing and cutting machines, to the exhibition. The event not only offers a chance to boost trade connectivity among foreign companies but also helps local businesses seek potential customers, thus contributing to developing industrial production in the north of Vietnam. Speaking at the opening ceremony, Deputy Minister of Industry and Trade Do Thang Hai affirmed that the exhibition is also a chance for domestic enterprises to approach advanced technologies in the world so as to improve their production efficiency and increase product value. He told participants that the Vietnam mechanical development strategy for 2001-2010 … [Read more...]

National brand key to integration

Deputy Minister of Industry and Trade Đo Thang Hai speaks at a forum on national branding held by the Ministry of Industry and Trade's Viet Nam Trade Promotion Agency yesterday in Ha Noi. - Photo dangcongsan.vn

HA NOI (Biz Hub) - Developing a national brand is a critical part of the country's international integration efforts, Deputy Minister of Industry and Trade Do Thang Hai said. Hai made the statement at a forum on national branding held by the Ministry of Industry and Trade's Viet Nam Trade Promotion Agency yesterday in Ha Noi. "The development of a national brand is key to cultural identity confirmation, especially in the context of integration," Hai said. The National Branding Programme, approved in 2003, requires long-term strategies and specific routes to accumulate experiences in promoting a national trademark. In addition to efforts by the Government and ministries, the business community should also accelerate effective measures to build and advertise their own products' brand names. Hai said the business community has gradually increased its awareness about building brands and has become more involved in national branding. He attributed this improvement to close and … [Read more...]

VN aiming for sustainable exports

Agricultural products being processed for export at An Giang Fruits, Vegetables and Foodstuff Joint Stock Company in southern An Giang Province. Viet Nam is seeking measures to become a more reliable and sustainable exporting nation. — VNA/VNS Photo Vu Sinh

HA NOI (Biz Hub) — Local businesses, managers and economists sat together to discuss how to improve Viet Nam's position as a trustworthy, reliable and sustainable exporting country at a trade promotion forum in Ha Noi yesterday. This year, the Vietnam Trade Promotion Forum 2016 was designed to exchange and discuss measures on export promotion, production development and market development, aiming to boost the production and exporting capacity of Vietnamese enterprises. Speaking at the Vietnam Investment Promotion Forum, Deputy Minister of Industry and Trade, Do Thang Hai, described trade liberalisation as the main momentum of global trade over the past decades, especially in Asian countries, including Viet Nam. Since joining the World Trade Organisation in 2007, the country's total trade turnover has increased threefold, from US$111.3 billion to $327.8 billion in 2015. Import revenue expanded 2.6 times and export value climbed 3.3 times to $165.7 billion and $162.4 billion, … [Read more...]

Vietnam aims to become sustainable export country

The forum

Businessmen, managers and economists discussed how to turn Vietnam into a trustworthy and sustainable exporting country at a forum in Hanoi on April 14. Speaking at the Vietnam Export Promotion Forum, Deputy Minister of Industry and Trade Do Thang Hai described trade liberalization as the main momentum of global trade over the past decades, especially in Asian countries, including Vietnam. Since joining the World Trade Organization (WTO) in 2007, the country’s total trade turnover increased threefold, from USD 111.3 billion in the year to USD 327.8 billion in 2015. Of these figure, import revenue expanded 2.6 times and export value climbed 3.3 times to USD 165.7 billion and 162.4 billion, respectively, he said. These numbers demonstrate that Vietnamese businesses have made the best use of opportunities afforded by integration and trade liberalization to deliver their products abroad, the official noted. However, the integration process has exerted diverse impacts on … [Read more...]

Economic highlights – March 13-20

VGP - Thailand pouring nearly US$8 billion in VN and Singapore taking the lead among foreign investors in Viet Nam in two months, five Vietnamese corporations entering Asia300, exports of cuttlefish, octopus rising up nearly 10% are economic highlights from March 13-20. Thailand pours nearly US$8 bln in VN in two months Thailand poured US$7.88 billion in 428 projects in Viet Nam in the first two months of 2016, ranking 11th among 112 nations and territories investing in Viet Nam. Thai investors mainly invested in the manufacturing and processing industry, with 200 projects worth US$7 billion, accounting for 47% of the total number of projects and 88% of the total capital. They were also interested in agriculture, forestry and aquatic sectors, with 31 projects, valued at US$235.4 million. Singapore leads foreign investors in Viet Nam in January-February There were 1,569 valid Singapore-invested projects with a total registered capital of more than US$36 billion in Viet Nam up to … [Read more...]

VN, India look to up textile trade

NEW DELHI (Biz Hub) — Viet Nam and India made significant progress in the textile and garment trade last year, Deputy Minister of Industry and Trade, Do Thang Hai, said at the third meeting of the Viet Nam-India Joint Sub-Commission on Trade last week. Opening the meeting in New Delhi, India's Secretary of Commerce from the Ministry of Commerce and Industry, Rita Teaotia, hailed the strong ties between Viet Nam and India. She also spoke highly of Viet Nam as the current co-ordinator between India and the Association of Southeast Asian Nations (ASEAN) in the 2015-18 period. The partnership between the two countries had expanded into multiple fields, such as textiles and garments, she said, while noting that little progress had been made in pharmaceuticals. Teaotia said the two sides should enhance information exchange, particularly in trade and commerce, as well as strengthen connections in air and sea transportation. Deputy Minister of Industry and Trade Do Thang Hai said … [Read more...]

Vietnam, India discuss trade investment cooperative promotion

The 3rd meeting of Vietnam-India Joint Sub-Commission on Trade was held on March 15.   (Photo: VNA)

(VOVworld) – The third meeting of the Vietnam-India Joint Sub-Commission on Trade opened in New Delhi on Tuesday. Opening the meeting, Indian Commerce Secretary at the Ministry of Commerce and Industry Rita Teaotia hailed the strong ties between Vietnam and India. She also spoke highly of Vietnam as current coordinator between India and the Association of Southeast Asian Nations (ASEAN) from 2015-2018. Teaotia said Vietnam is India’s 28th partner, expressing her hope that bilateral trade cooperation will strongly develop in the years to come. Deputy Minister of Industry and Trade Do Thang Hai put forward some proposals to increase bilateral trade and economic cooperation. He suggested that India consider opening a bonded warehouse in Vietnam to reduce costs and increase competitiveness for its products. … [Read more...]

Press digest – March 15

VN, Iran need new leverage to optimize economic potential Viet Nam and Iran need a new leverage, their leaders’ political resolve and businesses’ will and actions to fully tap into their economic potential, said President Truong Tan Sang. The Vietnamese leader made the remark while attending a VietNam – Iran business forum in Tehran on March 15. The function was co-organized by the Viet Nam Chamber of Commerce and Industry and Iran’s Trade Promotion Organization. On this occasion, President Truong Tan Sang witnessed the signing of a letter of intention on cooperation between the PVN and Iran’s Ghadir Group, and a memorandum of understanding on cooperation between the State Bank of Vietnam and the Central Bank of Iran. Plan issued for MoU on labor recruitment with Malaysia The PM has issued a Plan to implement the Memorandum of Understanding (MoU) signed between the Governments of Viet Nam and Malaysia on recruiting and using laborers. Accordingly, … [Read more...]