Opinion

Deputy Minister of Industry and Trade Do Thang Hai addresses the forum on enhancing the competitiveness of Vietnamese products (Photo: VietnamPlus) Hanoi (VNA) – The development of the Vietnamese “eagles” is a key task in winning the market share amid new-generation free trade agreements , heard a forum held by the Ministry of Industry and Trade (MoIT) in Hanoi on October 29. Experts and business leaders met to discuss measures to enhance the competitiveness of Vietnamese products during the global COVID-19 pandemic. Vietnamese products are becoming more attractive on the market and winning increasing trust from consumers, while the coverage of “Made in Vietnam” products is becoming broader, affirming the position of the products on the domestic market. However, amid the current intensive and extensive integration and impacts of the COVID-19 pandemic , changes have been seen in supply chains and the competitiveness of businesses, especially small- and medium-sized enterprises (SMEs). Facing risks of direct competition The results of a survey conducted by the Institute for Public Opinion Studies under the Party Central Committee’s Commission for Information and Education in 2019 showed that 88 percent of consumers said that they were interested in the movement of Vietnamese people prioritising the use of Vietnamese products, while 67 percent told themselves to prioritise Vietnamese goods while shopping, and 52 percent said that they advised their relatives and friends to use Vietnamese products. Meanwhile, the ratio of Vietnamese products sold in distribution channels has been high at 90-93 percent in Co.opmart, 90-95 percent in Satra, 96 percent in Vinmart, 95 percent in Vissan and 95 percent in Hapro. In foreign-owned distribution channels, the ratio has also kept at 65-96 percent. Deputy Minister of Industry and Trade Do Thang Hai said that the signing of free trade agreements (FTA) has helped expand and diversify the import-export …

[Read more...] about Experts share opinions on development of “Vietnamese-national eagles”

Emerging markets should be a good source of income in the years ahead, with emerging Asia looking most appealing, and Vietnam the standout performer. We have been gold bugs since 2001 (and still are). Another longtime favourite of ours is Vietnam. In 2005 we noted that it was Asia’s “other communist dynamo” (it still is). In 2007 the International Monetary Fund’s (IMF) chief economist referred to it as an “emerging China”. The IMF may have failed to forecast the global financial crisis in 2008, but that time it was on the money. Women in traditional "ao dai" dress parading in Vietnam Vietnam piqued our interest because it seemed to be following in China’s footsteps with a ten-year delay. It embraced the free market in the mid-1980s, and since then has attracted attention as a cheap manufacturing base: wages are around a third of Chinese levels. It has also moved up the value chain as foreign investment and expertise has flooded in. Most Samsung smartphones are made there and it is a major electronics exporter. Cris Heaton points out in this week's cover story , there is still considerable potential here if you tread carefully. Valuations in these emerging markets now seem to price in much of the recent turbulence. The article is reposted from MoneyWeek. Andrew Van Sickle is MoneyWeek's managing editor. …

[Read more...] about Why Vietnam is the star of Southeast Asia

Continuing the success of the August Revolution, the Vietnamese people then recorded significant victories in the resistance wars against the French and Americas as well as in the Doi Moi economic reform. The Vietnamese observe the 2nd of September every year as the National Day that Great President Ho Chi Minh read the Declaration of Independence of Vietnam at Ba Dinh Square in Hanoi, in a ceremony that formally gave the birth to the Democratic Republic of Vietnam and now is the Socialist Republic of Vietnam. This year, Vietnam also marks 75th anniversary of August Revolution that was a significant event in its national history, which broke the chains of French colonialists and Japanese fascists, and overthrew the absolute monarchy which had existed for a thousand years. Continuing the success of the August Revolution, the Vietnamese people then recorded significant victories in the resistance wars against the French and Americas as well as in the Doi Moi economic reform. Photo: Freepick.com Today, Vietnam is in pursuit of the foreign policy of independence, self-reliance, openess, diversification and multilateralization of external relations and active international integration. The diplomacy has become an important front in time of peace and made important contribution to maintaining and securing the peaceful environment and creating a favorable international environment conducive to national construction and defence, thus enhancing the position and prestige of the country in the international arena. Vietnam also implements the policy of “three nos”: No formal military alliances, no hosting of foreign military bases and no explicit alignment with any single outside actor. To continues to raise the banner of peace, cooperation and development, Vietnam is a friend, a reliable partner of all countries and an active and constructive member in the international community, striving for peace, cooperation and sustainable development, actively …

[Read more...] about Vietnam: A bright star in Asia