Making Industry the Key in Socio-economic Development


Over recent years, the industry sector of Lao Cai has enjoyed strong growth. By the end of 2015, the value of industrial production is expected to reach VND5,960 billion, 2.7 times the figure in 2010 (VND2,169 billion). To learn more about the efforts behind this development, Vietnam Business Forum interviewed Mr Do Truong Giang, Director of Lao Cai Industry and Trade Department. Ngo San reports.2015 is the last year of the Five Year Plan 2010-2015, what do you think about the development Lao Cai industry has made in recent years, notable achievements as well as weaknesses? Although Lao Cai is still facing difficulties in infrastructure, disadvantageous location far from economic centres and poor industrial products, the provincial industry has worked hard to achieve remarkable results. Especially in the 2010-2015 period, Lao Cai industry has become a key player making breakthrough in the socio-economic development of the province, elevating Lao Cai as the centre of metallurgy and … [Read more...]

Satisfying Demand for Capital for Economic Development


In recent years, despite challenges to the world and national economy affecting business and production activities of the enterprises, the State Bank of Vietnam in Lao Cai province (SBV Lao Cai) has actively implemented effective and timely mechanisms and policies to ensure the sustainable and effective operation of the banks in the province in the process of international economic integration. Until now, the local banking network has expanded to 11 commercial banks, many branches, transaction units, ATMs, POS devices, etc. Credits have been implemented in all villages in the province. During implementation, the commercial banks, financial institutions and People's Credit Funds are committed with directions and solutions of the SBV's monetary policy for socio-economic goals of the province. Therefore, the operation of the banking system in the province continues to grow stably to meet demands for capital at appropriate interest rates and better support for the business production and … [Read more...]

Tapping Potential, Sharing Opportunities

What measures has Hai Duong province taken to attract new investors and take care of existing businesses?

Hai Duong province has very favourable advantages for socioeconomic development. Specifically, the province is located at the centre of the Hanoi - Hai Phong - Quang Ninh northern economic triangle where trading activity is very convenient, ranked 10th in the country for its synchronous modern infrastructure system formed by investor-keen industrial zones placed along National Road 5 and National Road 18, and has an abundant, qualified workforce. Besides, in recent years, the province has endeavoured to improve the business and investment climate, create "soft advantages" like open investment mechanisms, policies and administrative procedures to provide the easiest and quickest access to public services. The overall picture is increasingly positive. Vietnam Business Forum interviewed Mr Nguyen Manh Hien, Chairman of Hai Duong Provincial People’s Committee on investment potential and opportunity in the province. Ngo San - Vu Thuy report.What the government and people of Hai Duong … [Read more...]

Nghe An Ready to Welcome Investors


As the newly formed unit, the Authority of Dong Nam Economic Zone has faced a lot of difficulties and challenges in mobilising investment capital for the economic zone in the face of overall economic difficulty. However, the authority has overcome all difficulties to achieve its tasks of promoting and attracting investment capital into the economic zone and industrial zones. The economic zone has drawn big projects like Hoa Sen steel sheets, Masan MB Industrial Centre and Hanoi - Nghe An Brewery. Besides, the authority has also built essential infrastructure for Dong Nam Industrial Park.Speeding up infrastructure investment Attracting more investment capital into Nghe An province and its economic zones is now priority development orientation of Nghe An province. Therefore, the province is seeking resources for better infrastructure construction and ensuring favourable conditions for investors. At present, the Authority of Dong Nam Economic Zone is speeding up infrastructure … [Read more...]

Hai Phong Paint: Keep Innovating


The 6th term of the Vietnam Chamber of Commerce and Industry (VCCI) has set up new huge challenges for innovation and creativity for the VCCI and enterprises. In order to acquire opinions and feedbacks from enterprises about the new tasks of the VCCI and enterprises in the upcoming time, Vietnam Business Forum interviewed Mr Nguyen Van Vien, Chairman of Hai Phong Paint Joint Stock Company. Ngo San reports.How do you assess the activity of the VCCI in the last term? What do you think the VCCI will have to do in the next term to further promote its role? During the past term, the VCCI has tried its best to accompany businesses in the process of restructuring and innovating growth model. The position and role of the VCCI has been increasingly improved; it acts as both a pioneer and a bridge connecting business. The most remarkable imprint is that the VCCI, as the representative of the enterprise community, drafted, developed and submitted Resolution 09/NQ-TW on "Building and promoting … [Read more...]

TRUNGDO: Innovation for Consumer Benefits


The domestic market of granite, porcelain, ceramic and cotto tiles is like a "battlefield." But, in this context of fierce competition, TRUNGDO has still powerfully grown up to be one of leading manufacturers in central Vietnam, secured a stable domestic market and looked to foreign markets. The secret to the robust growth of TRUNGDO remains unknown. The following conversation with Mr Nguyen Hong Son, Chairman of TRUNGDO Joint Stock Company, will help readers learn more about development strategies of this leading brand, especially its plans to conquer foreign markets like Taiwan, Thailand and the Middle East. Ngo San reports. Could you please talk about TRUNGDO’s major achievements in 2014? Last year, like many other businesses, TRUNGDO faced a lot of difficulties, but with the effort of the entire staff, the company still managed to achieve encouraging results, achieving 10 percent revenue growth, 20 percent profit growth, 20 -25 percent dividend payout ratio, and stable … [Read more...]

Hoa Sen Group: Integrating Business with Social Responsibility


"Integrity - Community - Development" is the core business values of Hoa Sen Group. To learn more about Hoa Sen Group’s operations and future orientations, Vietnam Business Forum interviewed Mr Le Phuoc Vu, Chairman of Hoa Sen Group. Ngo San reports.October 4, 2014 marked an important milestone when Hoa Sen Group commenced construction of Hoa Sen Nghe An Steel Sheet Plant. The project is divided into three phases with a total investment capital of VND2,360 billion and scheduled to be completed by 2018. The first phase of the project is expected to be launched officially in March 2015. Why did Hoa Sen Group choose Nghe An province as the investment destination? What did you expect from this investment? With our current business development strategy, Nghe An is determined as a potential market. In my opinion, this market gathers all conditions for robust development. Firstly, with the forecasts of Vietnam’s economy in 2015, Nghe An will contribute significantly to … [Read more...]

Nghe An Attractive Tourist Destination


With a long coast and a favourable transport system consisting of roads, railways and airways, particularly Vinh Airport to be upgraded to an international airport, Nghe An province is an attractive destination for tourists. Visiting Nghe An, tourists can not only swim at beautiful beaches but also join tours to Kim Lien village - the homeland of Uncle Ho, Hoang Muoi spiritual monument and many beautiful attractions. Nghe An is home to many historical monuments and landscapes as well as unique cultural works. The folk tradition of Vi Dam singing was recognised as the "Intangible Cultural Heritage of Humanity." With these potential and advantages, the government of Nghe An province is focusing on sustainable tourism development and considering tourism a key economic sector. Nghe An has now become an attractive destination for domestic and international tourists.Attracting more high-end international tourists In the coming time, the province will increase high-end international … [Read more...]

Nghe An More Open for Higher Development


After one year of implementing Resolution 26-NQ/TW of the Politburo on Nghe An development directions and tasks to 2020, under the close guidance of the central government, Nghe An province has made constant efforts to achieve important socioeconomic development results. On the sidelines of the 2015 Lunar New Year Meeting with investors, Nguyen Xuan Duong, Chairman of Nghe An Provincial People's Committee, granted an exclusive interview to Vietnam Business Forum. Ngo San reports.How do you think about economic development results of Nghe An province in 2014? In spite of many tough challenges, Nghe An province’s economy still developed well in 2014. In 2014, the total value of products reached VND56,689 billion, an increase of 7.24 percent over 2013. Of the sum, the production value of agro-forestry-fishery was VND14,337 billion, up 3.85 percent year on year; industrial and construction value was VND18,496 billion, up 8.72 percent; and services value was VND23,856 billion, up … [Read more...]

Outcome from the Resonance


In 2014, Nghe An started a number of investment projects with a major impact on socio-economic development. That's the bright spot in the bleak picture of attracting investment of the country. This result is due to the direct attention of the Central and the continuous efforts of the provincial government in 2014 and earlier years. The main achievement is the result of the above factors, Nguyen Van Do, Director of Nghe An Planning and Investment Department, confirmed to Vietnam Business Forum. Ngo San reports.How do you evaluate the results of attracting investment in 2014? As of November 15th 2014, Nghe An province had granted and adjusted investment certificates for 127 projects with a total registered capital of VND27,384 billion, of which granting certificates to 105 new projects with a capital of VND18,522 billion and adjusted 22 projects to increase more VND8,862 billion. The highlight is that Nghe An had attracted capital in a large number of projects such as Dong Van … [Read more...]

Dai Thanh Company: Lodestar in Quang Binh Rural Economy

With a team of young, dynamic, well-trained and enthusiastic management staff, a scientifically operated management and production system, a Board of Directors with rich experience in export garment industry, strong resources and broad network with trustworthy, visionary partners, and more than 200 employees with extensive experience in export garment production in modern factories in Ho Chi Minh City and Binh Duong province, Dai Thanh Joint Stock Company is confident to be a powerful business with important contributions to the general development of the rural economy in Quang Binh province. Dai Thanh Garment Export Factory is the first garment factory of Dai Thanh Joint Stock Company, built from May 2011 and put into operation in October 2012. The facility covers an area of 30,000 squ. metres, including 1,500 squ. metres for workshops. The plant can be expanded to 10 sewing lines (currently operating four sewing lines, two cutting lines, four ironing line and one packaging … [Read more...]

Deploying Consistent Export – Import Facilitation Solutions


The Bac Giang Customs Office responsible for managing industrial zones officially deployed the Vietnam Automated Cargo and Port Consolidated System and Vietnam Customs Information System (VNACCS/VCIS) from April 7, 2014. The VNACCS/VCIS system will directly improve the efficiency of export and import customs clearance, thus helping facilitate trade and enhance economic competitiveness. Vietnam Business Forum's reporter has an interview with Mr Vu Danh Hai, Director of Bac Giang Customs Office responsible for managing industrial zones, on this issue. Ngo San reports.In 2014, customs offices nationwide have actively deployed the VNACCS/VCIS system to support enterprises to carry out electronic customs clearance. How has the VNACCS/VCIS system worked since it was brought into operation in April 2014? … [Read more...]

SBV Bac Giang: Supporting Businesses to Overcome Difficulties

Recently, the State Bank of Vietnam - Bac Giang Branch (SBV Bac Giang) has been actively implementing solutions on monetary policy of the Central Bank to ensure reasonable credit growth to stabilise the money market and foreign exchange. Besides, SBV Bac Giang focused on directing local credit institutions to reduce costs and adjust lending rates downward in line with the macroeconomic situation and the direction of the SBV, which helps remove the difficulties of enterprises. Than Van Minh, Deputy Director of SBV Bac Giang, said that in 2013 and early 2014, to remove difficulties for enterprises, SBV Bac Giang has been actively revising down interest rates in line with the economic realities. In addition to the significant reduction of the interest rates for new loans, the bank has asked commercial banks to consider adjusting the interest rates on existing loans of less than 13 percent per year and exempting or reducing the interest of the payable for loss of assets that resulted in … [Read more...]

Bac Giang City: New Look, New Stature


In recent years, Bac Giang has made strong and continuous transformation that helps the province achieve new outcomes, contributing to its overall development. These achievements across all areas in the reform process have created momentum and are an important prerequisite for Bac Giang to continue to achieve better performance. This helps Bac Giang become a big city with strong potential for the future.New look … [Read more...]

Bac Giang: Vibrant Investment Promotion Activities


In recent years, Bac Giang Province has adopted many measures to enhance the exploitation of resources of many sectors and people for socio-economic development. The province has also issued a number of policies to encourage investment as well as implemented administrative reforms to create an open, attractive business environment for domestic and foreign investors, said Mr Bui Van Hai, Chairman of Bac Giang's People Committee to the Vietnam Business Forum. … [Read more...]

Entrepreneur Nguyen Van Vien: Lifelong Devotion to the Growth of Haiphong Paint


Today, Haiphong Paint is not only a pioneer of the Haiphong business community and of the Vietnamese paint industry but is also a leading private company in the country with three paint plants and eight subsidiary companies. It is little known that this achievement is originated from a near-bankrupt three decades ago. The key to the miraculous successes of Haiphong Paint is President and CEO Nguyen Van Vien, who has overcome mechanism barriers and market challenges to grasp opportunities for his company. … [Read more...]

“Golden Rose in the Sand”


Luckily, we had the chance to meet Ms Hoang Thi Hong, an executive member of VCCI term 5, Chairwoman cum CEO of Hai Binh Trade and Tourism Joint Stock Company, to discuss the outputs of the Vietnam Chamber of Commerce and Industry (VCCI), its uncompleted tasks, and the new expectations for the next term. Instead of meeting at the office, she arranged an appointment with us at the Kim Co Temple for worshipping Tam Queen, nickname of talented Nguyen Phi Y Lan located on Duong Thanh street right in the city centre. This is one of the typical historical-cultural relics belonging to the memorial monument system of Nguyen Phi Y Lan in Hanoi and surrounding areas. Ms Hong has gone through difficulties and obstacles in life to become a successful businesswoman, and is referred to as a strong-willed person. When asked about the efforts of VCCI in supporting business community in recent years, she affirmed that in the context of the difficult economy, with the roles of connecting the state and … [Read more...]

Thai Nguyen Confidently Implementing New Development Goals


Entering 2014, amid many difficulties and challenges, central and local government departments are carefully setting goals for socio-economic development. But in the mountainous province of Thai Nguyen, they are quite confident in setting the goals: economic growth of 15 percent, industrial production value increased by 55 percent, and exports reaching US$1 billion - increased 5.8 times compared with 2013. What is the reason for the confidence of the provincial authority in targeting those figures and what will they do to implement the goals of socio-economic development in 2014? To learn about this issue, Vietnam Business Forum interviewed Mr Duong Ngoc Long, Chairman of Thai Nguyen People's Committee. Ngo San - Tien Dat report. 2013 coming to an end is a time when we can recognize our efforts during the past year. How do you assess the situation of socio-economic development of Thai Nguyen province in the past year? We all know that in 2013, Vietnam's economy faced many … [Read more...]

Story on ‘Weird’ CEO


If you are lucky enough to meet Mr Nguyen Van Vien, General Director of Haiphong Paint Joint Stock Company, you would hardly imagine that he is nearly 70 years old. With a brilliant face, bright eyes, a well-built body, a weathered appearance, maturity and dexterity, he will surprise you immediately. Passion and enthusiasm never diminish in the thoughts of this venerable businessman. Ambition - bold investment He used to teach at Haiphong Industry School before being promoted to the deputy director of Personnel Division of the school. He is now the chairman of the Board of Directors of VLC Group. Looking back on his career, his extraordinary talent, enthusiasm and bravery are admired by many people. Any of his changes affects VLC Group. It is little known that the today's VLC success is mainly resulted from "gold and weird" investments by this CEO since the very beginning. As a strategically visionary CEO with far-reaching aspirations, he enterprisingly advocated creativity and … [Read more...]