UAE the biggest market for mobile phones manufactured in Vietnam

1643060-20150303083225-1

VietNamNet Bridge - Export revenue of cellphones and phone accessories made in Vietnam continued to lead other exports in February, with a total value of $2.445 billion, according to the General Administration of Customs. Cellphone manufacturing at Samsung factory in Bac Ninh. The United of Arab Emirates (UAE) continues to be the number-one market for made-in-Vietnam phones, with a turnover of more than US$391 million, accounting for nearly 16% of total export value. Other major markets include many European countries, such as Austria with $176 million; Germany, $154 million; France, $120 million; Turkey, $103 million; the UK, $90 million; Italy, $79 million; the Netherlands, nearly $69 million; Russia, $63 million; and Spain, over $61 million. Cellphones made in Vietnam are sold in most major markets around the world. Other markets are the United States with nearly $188.5 million; Indonesia, $128 million; India, $69 million; Malaysia, $58 million; South Africa, $56 million; … [Read more...]

New free trade deal to heighten economic ties with Korea

The Vietnam- the Republic of Korea Free Trade Agreement (FTA) will serve as a milestone to strengthen the two countries' economic relations, expected to reach US$70 billion in trade by 2020. This was revealed at a seminar on March 2 on economic co-operation between Vietnam and the Republic of Korea in the Post-FTA era. Under the FTA, signed in December, the two countries will remove import tariffs on more than 90% of all products once the FTA is implemented, probably in June. "This will not only expand trade and investment opportunities between the two countries, but help reinforce co-operation in various sectors, including industry, energy, agriculture and infrastructure," said Hae Moon Chung, Secretary General of ASEAN-Korea Centre. According to the latest data from South Korea, the country rose to become Vietnam's largest foreign investor last year in terms of both value and number of projects. This put it ahead of Japan, Taiwan and Singapore. Vietnam has risen as a … [Read more...]

New free trade deal to heighten economic ties with RoK

The Vietnam- the Republic of Korea Free Trade Agreement (FTA) will serve as a milestone to strengthen the two countries' economic relations, expected to reach US$70 billion in trade by 2020. This was revealed at a seminar on March 2 on economic co-operation between Vietnam and the Republic of Korea (RoK) in the Post-FTA era. Under the FTA, signed in December, the two countries will remove import tariffs on more than 90% of all products once the FTA is implemented, probably in June. "This will not only expand trade and investment opportunities between the two countries, but help reinforce co-operation in various sectors, including industry, energy, agriculture and infrastructure," said Hae Moon Chung, Secretary General of ASEAN-Korea Centre. According to the latest data from the RoK, the country rose to become Vietnam's largest foreign investor last year in terms of both value and number of projects. This put it ahead of Japan, Taiwan and Singapore. Vietnam has risen as a … [Read more...]

Vietnam seeks qualified workers for manufacturing sector

1641917-20150227094817-worker

VietNamNet Bridge – The growing tendency of multi-nationals to relocate their factories from neighboring countries to Vietnam has led to increased demand for medium- and high-ranking personnel. Manufacturing companies have replaced trade businesses to become the biggest clients of Navigos Search, a human resource service provider, in 2014. The number of orders for medium- and high-ranking personnel placed by manufacturing companies has increased sharply recently. In the fourth quarter of 2014, the orders for workers from the manufacturing sector accounted for 27 percent of the total number of orders, a sharp increase from the 17 percent in the second and third quarters of the same year. In fact, the increase in the demand for qualified workers is expected as many multinationals have decided to set up production bases in Vietnam. After taking over Nokia’s mobile phone manufacturing division, Microsoft plans to relocate factories in China, Mexico and Hungary to … [Read more...]

Tet holidays slow down industrial production

Rubbery conveyor belt production at Ben Thanh Rubber Company, HCMC (Photo: SGGP)

Long Tet holidays caused February Industrial Production Index (IPI) drop 19.2 percent against the previous month. However it still increased 7 percent over the same period last year, reported the General Statistics Office of Vietnam. In the first two months this year, the northern province of Thai Nguyen saw IPI rocket up to 578.8 percent over the same period last year as Samsung Electric Thai Nguyen Plant has come into operation and boosted production. It hiked 4.7-16.9 percent in Hanoi, Ho Chi Minh City and Hai Phong. Industrial products seeing the index increase include cell phone, TV, automobiles, steel, seafood feed, processed seafood, leather shoes, cement and electricity. … [Read more...]

Samsung Thai Nguyen wants to employ 10,000 workers

Workers assemble mobile phones at a factory of South Korea's Samsung Electronics Vietnam (SEVT) Co Ltd in the northern province of Thai Nguyen. The company is expected to recruit 10,000 more workers in 2015.

South Korea's Samsung Electronics Vietnam Thai Nguyen (SEVT) Co Ltd recently sent a document to the departments of labour, invalids and social affairs of cities and provinces. In the document, SEVT has asked that it be allowed to recruit 10,000 more workers in 2015. According to Hai Quan (Customs) newspaper, SEVT wants to recruit secondary or high school graduates to assemble electronic parts and mobile phones. Samsung will pay them a basic salary of VND3.4 million (approximately US$162) per month. If allowances and overtime pay are included, workers can earn VND7 million ($333.3) per month. The company said that while working in SEVT, its employees will have an opportunity to attend a regular college course with four majors, consisting of electronics, accounting and English and Korean languages. The firm was given an investment certificate on March 19, 2013, by the northern province of Thai Nguyen. The $2-billion project focuses on manufacturing mobile phones, electronic parts … [Read more...]

The time for 4G has come

1639202-20150214101047-1

VietNamNet Bridge – The Ministry of Information and Communications and big tech companies in Vietnam are implementing 4G, which is expected to begin in late 2015. The 4G is the fourth generation wireless communication technology, allowing data transfer with maximum speed in ideal conditions up to 1-1.5 Gbps, over 40 times higher than the highest bandwidth of 3G services. In the world, more than 300 network operators have offered the technology and the most advanced smartphone models are integrated with 4G technology. Last year there were about 450 million 4G subscribers globally, and the number is expected to reach 830 million in 2015. The deployment of 4G in Vietnam is inevitable. The issue is when the country should implement it to maximum benefit. 4G frequency to be auctioned in late 2015 Mr. Doan Quang Hoan, Director of the Radio Frequency (Ministry of Information and Communications), the said the Department has planned the 2.3 GHz and 2.6 GHz bands for mobile … [Read more...]

FDI: Does it really benefit all of Vietnam?

FDI plays an important role in national economic development

(VOV) - Although foreign direct investment (FDI) has created many jobs and stimulated competitiveness for local businesses over recent years, many citizens have raised concerns that its benefits have not been evenly distributed nationwide. Though it is generally recognised that FDI has been an important driving force for economic growth in the large metropolitan areas such as Hanoi and HCM City, legitimate questions linger about its quality and whether or not it has been equitably distributed to benefit the rural areas of the nation. Dr. Nguyen Mai, President of the Vietnam Association of Foreign Invested Enterprises recently said it was time for an objective, scientific assessment of foreign investment and a careful analysis of whether the nation is on the best course. According to his analysis, at present, 67% of exports over the past year were generated from the country's FDI. Additionally, those exports contributed significantly to the nation’s US$2 billion trade surplus … [Read more...]

South Korean businesses select Vietnam as an investment destination

After Samsung, many South Korean businesses choose Vietnam as their investment destination in 2015

(VOVworld) - Most South Korean businesses plan to expand their overseas operation this year, where Vietnam has been the most favored destination. A recent survey by the Korean International Trade Association shows that 49% of 540South Korean companies from 32 countries confirm their plan to expand operation in Vietnam this year, following major opportunities created by trade liberation deals Vietnam would join. Head of the Economic Department in East Asia, South Korean Foreign Ministry, Seo Min Jeong, says Korean businesses count on tariff reduction and market expansion commitments in the Vietnam Korean Free Trade Agreement: "Vietnam has high growth rate and abundant workforce. Both countries have seen increase trade revenues and we expect more investment from the Korea to Vietnam to benefit from favourable business climate." South Korea has been Vietnam’s largest investor with more than 4,000 projects worth 36.7 million dollars. … [Read more...]

HCMC attracts high tech for development

Samsung ordered a list of 170 parts from Vietnamese suppliers last August to increase localisation.

(VOVworld) – In recent years, Ho Chi Minh City has made a great deal of investment in building high tech parks to try to create a breakthrough in socio-economic development and international integration. The success so far suggests the city is moving in the right direction. The Sai Gon High Tech Park (SHTP) is one of three high tech zones attracting such prominent technology groups as Intel (US), Jabil (US), Nidec (Japan), and Datalogic (Italy). Le Manh Ha, Deputy Chairman of Ho Chi Minh City’s People’s Committee, says: "the high-tech park plays an important role in the city’s socio-economic development. It has become the center of high-tech production and now the US’ Intel and Korea’s Samsung, and a number of other companies in food and biological technologies have chosen to invest in the high-tech park. It is an incubator of scientific research." Last year, the SHTP lured 10 foreign investment projects with registered capital of nearly 2 … [Read more...]

US chip maker Qualcomm to offer full support for Bkav in producing first smartphone

Bkav has signed a contract with Qualcomm to use the entire group's innovations in the smartphone products they produce, Nam told newswire

The Hanoi-based technology firm Bkav will receive full support from Qualcomm in the design and testing of products, as the American firm offers to other top smartphone manufacturers, said Thieu Phuong Nam, General Director at Qualcomm Vietnam and Indochina. ICTNews late last week. Bkav is the first company in Southeast Asia to sign a contract with Qualcomm to use the entire group's patents, he said. As a result, Bkav will be entitled to use all of Qualcomm's technology for smartphones and receive direct support from Qualcomm in the design and testing of products. "Although Bkav can use all of Qualcomm's patents, when Bkav produce a certain product it will have to choose a specific chipset, and the local technology firm will have to sign more contracts for the copyright of the chipset," Nam said. However, the cost for signing the contract is small, as the main contract is more important because it covers a lot of patents, "Nam said. Last month, Bkav introduced its first … [Read more...]

January 27-February 1: Vi-Giam folk singing receives UNESCO certificate

At the ceremony announcing Vietnam’s top 500 largest enterprises in 2014 (2014 VNR500). (Credit: vietnamnet.vn)

NDO – Nhan Dan Online reviews some of the most noticeable events that made headlines in the past week. 1. Vi-Giam folk singing receives UNESCO certificate A formal ceremony was held in Vinh city, central Nghe An province on January 31 to receive the UNESCO certificate recognising the Nghe Tinh Vi-Giam folk singing as an intangible cultural heritage of humanity. Addressing the event, Deputy Prime Minister Vu Duc Dam expressed his gratitude to Nghe An and Ha Tinh people for creating the Vi-Giam folk singing, while thanking UNESCO and international organisations for their support to help Vi-Giam become an intangible cultural heritage of humanity. The deputy PM called for continuing co-operation and assistance from international organisations and asked ministries, sectors and localities to continue preserving and promoting the country’s cultural heritages, including the Nghe Tinh Vi-Giam folk singing, creating a spiritual foundation and a driving force for national … [Read more...]

Korean investors consider Vietnam as best location for business expansion in 2015

1628966-wxlo6rkq

A majority of polled South Korean firms choose Vietnam as the best location for business expansion among many emerging foreign markets in 2015, according to the survey announced by Korea International Trade Association (KITA) on Thursday. KITA said 537 Korean businesses were surveyed about the investment environment in 32 countries with an annual growth rate of more than 3 percent in the last 3 years. Regarding the result of the survey, about 49 percent of them said to have plans to develop business in Vietnam market in 2015 following a number of free trade agreements (FTA) the Southeast Asian country have concluded with their foreign trade partners, including the FTA reached between Vietnam and Korea in December last year. Indonesia and Thailand are 2nd and 3rd preferred markets for business expansion among polled South Korean firms with 37.4 percent and 30 percent, respectively, followed by Malaysia (28.5 percent) and Turkey (20.7 percent). The survey results also showed … [Read more...]

VCCI Suggest Cooperation with Samsung in Skilled Manpower Training and Supporting Industries Development

Dr. Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), recently received newly-appointed Samsung Vietnam General Director Han Myoung Sup at VCCI headquarters in Hanoi.

At the meeting, Loc appreciated Samsung’s contributions [to Vietnam] and reaffirmed VCCI’s companion and support for Samsung in promoting investment in Vietnam. He also hoped that Samsung will expand research and development (R&D) in Vietnam and cooperate with Vietnamese businesses to enable them to join more deeply into global production chains. He also suggested Samsung coordinate with VCCI to deploy three major strategic programmes. Firstly, Samsung cooperates with VCCI to carry out business executive and high-level human resources training programmes. Secondly, Samsung and VCCI jointly launch a programme on promotion of supporting industries. Thirdly, VCCI and Samsung will work together with Vietnam Television (VTV) to produce a documentary film about Vietnam - Korea friendship history. Thu Ha … [Read more...]

41 Vietnamese firms join billion dollar club

PetroVietnam earned VND745.5 trillion (US$34.8 billion) in revenue in 2014. This is its seventh consecutive year in the top position. — Photo ndh HA NOI (Biz Hub) — As many as 41 local enterprises joined the Billion US Dollar Club for recording annual revenues of over US$1 billion. They were listed among the country's 500 largest enterprises (VNR500) in 2014. According to the VNR500 2014, released by the Viet Nam Report Joint Stock Company (Viet Nam Report) on Tuesday, Viet Nam National Gas and Oil Group (PetroVietnam) secured the top spot. PetroVietnam earned VND745.5 trillion (US$34.8 billion) in revenue in 2014. This is its seventh consecutive year in the top position. Other big names included Samsung Electronics Viet Nam, VietNam National Petroleum Group (Petrolimex), Electricity of Viet Nam (EVN) and Viettel Group. The VNR500 rating is internationally standardised by Viet Nam Report, aiming to honour Vietnamese enterprises' achievements each financial year. — … [Read more...]

VNR500 sees 41 businesses’ revenues surpassing 1 billion USD

Hanoi, January (VNA) – As many as 41 local enterprises joined the "billion US dollar Club" for recording annual revenues of over 1 billion USD. They were listed among the country’s 500 largest enterprises (VNR500) in 2014. According to the VNR500 2014, released by the Vietnam Report Joint Stock Company (Vietnam Report) on January 27, the top place was secured by the Vietnam National Gas and Oil Group (PetroVietnam). PetroVietnam made total revenues of 745.5 trillion VND (34.8 billion USD) in 2014 and this is the seventh consecutive year that PVN has taken the top position. The other big names included Samsung Electronics Vietnam, Vietnam National Petroleum Group (Petrolimex), Electricity of Vietnam (EVN), and Viettel Group. The list of 500 largest private companies placed DOJI Gold and Gem Group in the first position. The Vietnam Dairy Products Joint Stock Company (Vinamilk) came in second, reaping revenues of 36 trillion VND (or 1.8 billion USD). Vietnam Report … [Read more...]

PetroVietnam named Vietnam’s largest enterprise in 2014

The Vietnam National Gas and Oil Group (PetroVietnam) topped the list of Vietnam’s 500 largest enterprises (VNR500) in 2014, which was released by the Vietnam Report Joint Stock Company (Vietnam Report – VNR) at a ceremony in Hanoi on January 27. Samsung Electronics Vietnam Co., Ltd came in second place, followed by Vietnam National Petroleum Group (Petrolimex), Electricity of Vietnam (EVN) and Viettel Group. Vietnam Report also published the 500 largest private companies in Vietnam, with DOJI Gold & Gems Group, Vietnam Dairy Products Joint Stock Company, FPT Corporation and Vingroup Joint Stock Company making the top four positions of the list. According to VNR statistics, State-owned enterprises still made up the larger proportion of 2014 VNR500. The minerals, oil and petroleum industry remained the "richest", creating 32.9% of VNR500’s total revenues, followed by the electricity sector (19%) and the banking and finance sector (10.3%). Notably, 41 of … [Read more...]

Ha Tinh Improves Business Environment and Attracts Investments

In the context of international integration, how are opportunities for Ha Tinh businesses and what are their strengths and weaknesses in the competition?

In 2014, with various changes in the world economy, the Vietnamese economy revived even with potential risks affecting the business community. Under such circumstances, Ha Tinh province has adopted several policies and improved business environment to maintain production and attract investment. As a result, the province has successfully joined the top list in attracting investment. Vietnam Business Forum interviewed Mr Hoang Van Son, Deputy Director of Ha Tinh Planning and Investment Department. Hoang Tinh reports.In recent years, in spite of world economic recession, Ha Tinh continues to attract investment, joining the leading group and occupying the 6th position in FDI. How do you evaluate this success? So far, Ha Tinh has attracted 370 investment projects, domestic and foreign, with total capital of over VND425 trillion (US$20.5 billion). The number of businesses has also increased to over 4,000 (including business branches and representative offices). In 2014 alone, there are 500 … [Read more...]

HCM City funds infrastructure for Samsung project

HCMC chairman Le Hoang Quan (R) talks to Han Myoung Sup at a meeting in the city on January 22.

The government of HCMC is spending around VND1 trillion developing infrastructure and building facilities to support the implementation of Samsung’s US$1.4-billion electronics project at the Saigon Hi-Tech Park (SHTP). HCMC chairman Le Hoang Quan unveiled the huge spending at a meeting with Han Myoung Sup, general director of Samsung Vietnam, and some senior representatives of Samsung in Vietnam in the city on January 21. Han has been appointed to head all projects of Samsung in Vietnam, including the Samsung CE Complex (SECC) at SHTP, which was licensed last October. According to Quan, the city government is urgently developing facilities on 70 hectares of land at SHTP planned for SECC, leveling the site and building roads so that Samsung can have cleared land on schedule. The budget for all these works is VND1 trillion, he said. Han said at the meeting that Samsung has implemented many projects in Southeast Asia but the project in HCMC is important. Samsung is trying to … [Read more...]

City funds infrastructure for Samsung project

HCMC chairman Le Hoang Quan (R) talks to Han Myoung Sup at a meeting in the city on January 22 - PHOTO: LE HOANG

Le Hoang HCMC chairman Le Hoang Quan unveiled the huge spending at a meeting with Han Myoung Sup, general director of Samsung Vietnam, and some senior representatives of Samsung in Vietnam in the city on January 21. Han has been appointed to head all projects of Samsung in Vietnam, including the Samsung CE Complex (SECC) at SHTP, which was licensed last October. According to Quan, the city government is urgently developing facilities on 70 hectares of land at SHTP planned for SECC, leveling the site and building roads so that Samsung can have cleared land on schedule. The budget for all these works is VND1 trillion, he said. Han said at the meeting that Samsung has implemented many projects in Southeast Asia but the project in HCMC is important. Samsung is trying to put it into operation around this time next year. The latest smart TVs will be turned out in the first phase of the project before the production of household electronic appliances. Earlier, the authority of … [Read more...]