The Ho Chi Minh City-based Saigon Co.op - the operator of Vietnam's leading supermarket chain has set a target to stand among the top 500 retailers in the Asia-Pacific region by 2010. Nguyen Ngoc Hoa, general director of Saigon Co.op said in the 2007-2010 period, they would open 30 more supermarkets in Ho Chi Minh including ten outlets in 2007. Hoa said besides the target on the regional scale, the cooperative would strive to maintain their leading position among Vietnamese retailers. With a new store launched last December, Saigon Co.op now operates 17 Co.opMart stores, comprising 14 in service in HCMC, and one each in Can Tho and My Tho provinces in the Mekong Delta and central Binh Dinh province. … [Read more...] about Saigon Co.op targets to be top Asia-Pacific retailer by 2010
2010 mini cooper s
What do VIPs use super cars for?
VietNamNet Bridge - Super cars by well known brands have appeared in Vietnam, from Lamborghini, Rolls Royce to Bentley, Porche and Audi. However, it may be a surprise to manufacturers and many other people that Vietnamese businessmen do not want others to know about their cars, which they buy not for use, but for their collections. Big changes to car market after April 1 Auto market stalls, needs kick-start Car price war started by local manufacturers Nguyen Quoc Cuong, Deputy General Director of Quoc Cuong Gia Lai Corporation, has frequently appeared on newspapers these days, both on domestic and foreign, not because he is a manager of a big company which lists its shares on the bourse, but because he is the owner of an impressive collection of cars. … [Read more...] about What do VIPs use super cars for?
The door still opens widely for super cars to enter Vietnam
VietNamNet Bridge - While automobile trade companies are considering shifting to other business fields, domestic automobile manufacturing joint ventures are considering the plans which allow to import more cars to satisfy the increasingly high domestic demand for super cars. The clients, who want to buy the super cars with famous brands of Audi, Porsche, Mercedes Benz and BMW, can be easily satisfied because all the automobile manufacturers have authorized sales agents or subsidiaries in Vietnam. … [Read more...] about The door still opens widely for super cars to enter Vietnam
BUSINESS IN BRIEF 22/8
Vietnam urged to boost supporting industry Truong Thi Chi Binh, director of the Supporting Industry Development Enterprise Centre, told the Nepcon Vietnam Forum that the number of Vietnamese firms in the sector remains modest, with most of them being small or medium-sized enterprises. Only a few of them are part of the production chain of multinational companies, according to Binh. Poor production and trading competence and lack of market information are the main factors that prevent domestic firms from entering the global manufacturing chain. But with the free trade agreements the country has signed, more and more foreign investors will come to Vietnam, providing them opportunities to do so. Japanese companies are the largest auto suppliers to the US and Canada, but most of their factories are based in China. Many people think Japanese auto firms will shift their factories in China to Vietnam or open new factories here to take advantage of the Trans-Pacific Partnership. "The … [Read more...] about BUSINESS IN BRIEF 22/8
Automakers stumble in India’s policy fog
Global auto makers which have rushed to set up factories in India to feed local demand admit they have been tripped up in the last 12 months by the country's unpredictable policy-making. After a stellar 2010-2011, when car sales grew 31 percent year-on-year, the industry has faced a staggering slowdown and radically different buying patterns - bad news for giant complex companies that plan years in advance. "To say we've been wrong-footed would be an understatement," the head of General Motor's India operations Karl Slym told AFP on the sidelines of the country's Auto Expo car show last week. Shinzo Nakanishi, chief executive of Maruti Suzuki, the Japanese-owned market leader in India, admitted that "many changes have surprised us during the last year". The first factor was the Indian central bank's decision to persist doggedly with an aggressive cycle of interest rate hikes to tame inflation. It raised the cost of borrowing on seven occasions in 2011. Many customers who rely on … [Read more...] about Automakers stumble in India’s policy fog