Minister rejects claim of Vietnam’s inability to make Samsung-standard parts

The Vietnamese Minister of Industry and Trade has dismissed recent press reports that no local part suppliers are able to make even the screws and bolts ordered by South Korean electronics giant Samsung to serve its production in the Southeast Asian country. Citizens Ask - Ministers Answer program on national TV channel VTV3. The question was from a business owner, whose firm is among 200 Vietnamese part suppliers unable to grab the Samsung order to supply screws and bolts to the electronics … [Read more...]

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Vietnam fails to cash in on components for big foreign manufacturers

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A phone production line at Samsung's plant in Bac Ninh Province. Vietnam should focus on developing some supporting industries to help specific manufacturing sectors grow. FILE PHOTO … [Read more...]

Companies dispute low-productivity rate of Vietnamese workers

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VietNamNet Bridge - Many Vietnamese refuse to believe that local workers' productivity is 1/15th that of Singaporeans, as reported recently by the International Labor Organization (ILO). The report showed that Vietnamese workers' productivity is the lowest in Asia Pacific, only equal to 1/5 of Malaysia's, 2/5 of Thailand's, and 1/15 of Singapore's. … [Read more...]

Cash-strapped businesses show no interest in preferential credit package

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VietNamNet Bridge - The Vietnam Development Bank's preferential credit program offers loans to businesses investing in support industries, but it has yet to see one applicant. The government, in an effort to develop support industries, has offered many investment incentives and provided preferential loans to enterprises in the sector. … [Read more...]

Eight more enterprises receive customs preference

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GDC Deputy Director General Hoang Viet Cuong hands over the priority enterprise certificate to Soc Trang Seafood Company. … [Read more...]

Vietnam part suppliers raise white flag even on simple hi-tech items: official

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Despite given chances to join Samsung production in Vietnam, local part suppliers are not qualified to make even the simplest items of the 170 different types of parts for which the South Korean company is seeking suppliers, a Ministry of Industry and Trade official has admitted. has submitted a list of 170 different types of parts for its flagship Galaxy S4 smartphones and Galaxy Tab 7 tablets, which the company believed could be domestically manufactured, to the Ministry of Industry and … [Read more...]

Samsung Vietnam prioritizes local part suppliers, but few qualify: general director

Samsung is locating its most important production base in Vietnam, Shim Won Hwan, general director of the Samsung Vietnam complex based in the northern province of Bac Ninh, told

Samsung is willing to partner with local part suppliers but there are in fact few qualified businesses, the general director of the electronics titan's Vietnam complex has said. Tuoi Tre (Youth) newspaper in an interview published Thursday. … [Read more...]

VFF President visits Samsung Electronics Thai Nguyen

(VOV) - Vietnam Fatherland Front (VFF) Central Committee President Nguyen Thien Nhan on August 15 visited Samsung Electronics Vietnam Thai Nguyen (SEVT) in Thai Nguyen province to survey the company's operations. Nhan highlighted the achievements made by Samsung Vietnam and the group's factory in Thai Nguyen. He affirmed that the group's success was vivid proof of the solid strategic partnership between Vietnam and the Republic of Korea (RoK). The investment in the construction a modern … [Read more...]

Samsung Vina boosts home appliances business

Samsung promotion girls show off a food showcase refrigerator - Photo: Hung Le

Hung Le In the campaign, the firm introduced its flagship products like refrigerators, washing machines with smart wash, and air-conditioners with triangular design for more powerful cooling. Those hi-end products are imported from Samsung factories outside Vietnam, but in the near future they will be made at Samsung's plants in Vietnam. … [Read more...]

ICT M&As a growing trend

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By Huu Tuan … [Read more...]

M&As increasingly cover ICT market

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By Huu Tuan … [Read more...]

FDI sinks despite new projects

A mobile phone production line at Samsung Vietnam in the northern province of Bac Ninh. The Foreign Investment Agency reported that total capital disbursements from FDI firms were estimated at US$6.8 billion in the first seven months this year, increasing 2.3 per cent against the corresponding period last year. - VNA/VNS Photo Duc Tam

HA NOI (VNS )- Total registered capital of foreign direct investment (FDI) projects in the first seven months this year decreased by 20 per cent year-on-year to US$9.53 billion, according to the Ministry of Planning and Investment's Foreign Investment Agency (FIA). … [Read more...]

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...]

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...]