Local firms missing out on supporting industry opportunities

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Local supporting industries are looking to hike their localisation rates, but doubts remain over whether local businesses are prepared to take advantage of the opportunity. … [Read more...]

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FDI, domestic businesses collaboration a prior, experts

Car assembly at a FDI company in Vietnam (Photo: VNA)

Cooperation between Foreign Direct Investment (FDI) and domestic companies should be a prior policy to create motivation for new growth, according to economic experts and policy planners on March 26. These experts were speaking at a seminar hosted by the National Economics University and Japan Policy Research Institute in Hanoi. … [Read more...]

Smartphone application to helps avoid traffic jams

With a smartphone, travelers can get access to the traffic situation in Hanoi and HCM City and check for alternative routes to avoid the jams. The red exclamation mark shows the serious traffic jams The Voice of Vietnam (VOV)’s traffic channel cooperated with Samsung Vietnam to launch the application VOV Traffic Map. The application available on Google Play Store and Samsung Apps will allow users to use it for free. Besides constant updates of congested spots, the application allows users … [Read more...]

Smart phones prices fall sharply at year’s end

The Touch Lai Q4 smart phone model has been launched by MobiiStar. Prices of several smart phones have fallen strongly in the lead up to the Tet holiday.

VietNamNet Bridge - Prices of many smart phone models have fallen strongly in the lead up to the traditional Lunar New Year holiday or Tet, making the local market much more bustling than in previous months. Doan Van Hieu Em, mobile phone sales director of Thegioididong.com, said his company had discounted prices of many kinds of smart phones sharply to stir up demand. The discounts are seen at most new mobile phone models whose prices were kept unchanged for a long time but makers and … [Read more...]

PetroVietnam tops Vietnamese company earnings for 2013

PetroVietnam tops Vietnamese company earnings for 2013   Vietnam Report Joint Stock Company has released a list of Vietnam's top 500 largest enterprises (VNR500) in 2013.

The Vietnam National Oil and Gas Group (PetroVietnam) earned revenues of more than VND772 trillion (USD37 billion) in 2013, topping domestic companies for the year. With the USD37-billion revenues, PetroVietnam came out around the 300th in Fortune Global 500. The remaining six, Electricity of Vietnam (EVN), Samsung Vietnam, Vietnam Military Telecommunications Group (Viettel), Vietnam Posts and Telecommunications Group (VNPT), VietsoPetro and Vietnam National Petroleum Group (Petrolimex), … [Read more...]

FDI: Far Beyond Expectation

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From the beginning of the year to mid-December 2013, the sources of foreign direct investment (FDI) in Vietnam reached about US$21.6 billion, up 54.5 percent from the same period of 2012 and far exceeding the initial targets set by the Ministry of Planning and Investment (MPI). The figure is very significant, particularly in the context the global and national economies having not yet recovered. Impressive figures Since early 2013, the Ministry of Planning and Investment had cited some … [Read more...]

VNR500 Company List 2013: SOEs Still Key Economic Growth Drivers

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The impressive revenue of Samsung Electronics Vietnam Co., Ltd in 2012 (approximately VND270 trillion) elevated Bac Ninh province to third place on the VNR500 2013 - the ranking of the 500 biggest companies in Vietnam. The ranking was recently announced in Hanoi by Vietnam Report Joint Stock Company (VNR) in collaboration with the online newspaper, the VietnamNet. Samsung Electronics Vietnam Co., Ltd also ranks second in the VNR500 List 2013, only after the Vietnam National Oil and Gas Group … [Read more...]

Even big guys find it hard to squeeze into smartphone market

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VietNamNet Bridge - The competition in the smart phone market has become so stiff that even big guys also have to struggle hard to push up sales. A market report showed that Vietnam consumed 1.4 million smart phones a month in 2012. Of these, 92 percent were the products of big manufacturers like Samsung, HTC, LG, Sony, Nokia, Apple, BlackBerry, Alcatel, Philips, while the other 8 percent were the products bearing Vietnamese brands. No more room for domestic brands It is estimated that … [Read more...]

Private businesses dominate Vietnam’s 500 largest firms list

The state-run oil and gas giant PetroVietnam tops the list, titled 2013 VNR500, while Samsung Electronics Vietnam comes second.

Private enterprises occupy most of the places in the list of Vietnam's 500 largest companies compiled and released on Tuesday by the Vietnam Report Co. Private Vietnamese enterprises account for 44 percent of the 500 companies in the list. 40% are state companies with the rest being foreign businesses. The remainders of the top ten are all familiar faces: Petrolimex, EVN, Viettel, VNPT, Vietsovpetro, Vinacomin, and PV Oil. This is the second year in a row Samsung Vietnam is enlisted in the … [Read more...]

Entreatment for tax incentives refused, Viettel gets disillusioned

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VietNamNet Bridge - The Ministry of Finance (MOF) has rejected the military telecom group Viettel's proposal to enjoy the tax incentives like those given to Samsung Vietnam.Viettel wants preferentials like those for SamsungPreferential tax not applicable to Viettel: MoF MOF has said "no" to the claims for the preferentialism like those for the 100 percent South Korean invested enterprise Samsung Electronics Vietnam (SEV), saying that Viettel and SEV are in different conditions, therefore, they … [Read more...]