American Express Bank announced the launching of its first representative office in the Ho Chi Minh City Wednesday. William J Blomquist, deputy chairman of American Express Bank - an international banking arm of the American Express Company - said in a statement that with the lender's 76th worldwide office it aimed to assist Vietnamese banks in developing international business. The rep-office, the company's second in Vietnam after its initial Hanoi branch opened in 1995, will play an important role in bringing global banking services and products to the local banks, according to Ramachandra Kundar, the head of HCMC office. … [Read more...] about American Express branches out in southern Vietnam
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BUSINESS IN BRIEF 10/7
Vietnam cocoa splashes into organic market The global demand for organic cocoa products has been soaring over the past few years, while the supply side has faced challenges keeping up, says the Vietnam Coffee and Cocoa Association. Organic cocoa has more nutritional benefits than its nonorganic counterpart such as more fibre, iron, magnesium, copper, manganese and other minerals. In addition, it contains plentiful antioxidants, which helps to protect skin. Currently, the Dominican Republic dominates the global organic cocoa market in terms of production, holding roughly a 70% market share while Peru, Ecuador and Mexico collectively control around 20% of the market. The remaining 10% is held primarily by other South American countries including Bolivia, Ghana and Brazil with other parts of the world meeting only a miniscule portion of the world’s demand. Speaking at a recent conference in Ho Chi Minh City, Luong Van Tu, chairman of the Association, said market conditions are right … [Read more...] about BUSINESS IN BRIEF 10/7
BUSINESS IN BRIEF 25/6
Hanoi centre irradiates first tonnes of lychees for export The Hanoi Irradiation Centre (HIC) on June 23 for the first time irradiated two tonnes of lychees which are to be shipped to Australia. The centre is expected to help lychee exporters save transport costs and time rather than shipping lychees to the south for irradiation treatment, said Dam Quang Thang, Director of Agricare Vietnam – one of the two companies that are having lychees irradiated at the HIC. The same day, Rong Do manufacturing, commerce and services company also brought lychees to the HIC for treatment. The cost of irradiation in Hanoi is 6,000 VND (0.27 USD) per kg while it amounts to 11,000 – 12,000 VND in Ho Chi Minh City. Le Son Ha, head of Plant Protection Department’s plant quarantine office, said the plant quarantine staff will offer all possible support to firms. The HIC, which got the official certification from Australia’s Department of Agriculture and Water Resources on June 20, … [Read more...] about BUSINESS IN BRIEF 25/6
Tech tools that make doing business internationally easy
Doing business internationally isn't just for the big enterprises anymore. Once-emerging markets such as India, China and Singapore now demand services that only smaller firms can provide. But those are far from the only technologies that can help a small company do big business overseas. From shipping to electronic payments to navigating confusing regulations, the following tools can help make doing business internationally easier. Shipping overseas? There's an app for that. One of the biggest hurdles to doing business overseas is getting your products where they needs to go. Luckily, major shippers including UPS, FedEx and the U.S. Postal Service offer Web apps that track global shipments, estimate costs and check for compliance with country-specific rules, laws and tariffs. For instance, UPS offers a free international shipping tool called TradeAbility that shippers can use to estimate costs, look up duty fees and view international trade restrictions and other regulations. … [Read more...] about Tech tools that make doing business internationally easy
London Games spark tourist numbers debate
Tour operators organising trips to Britain are seeing an average 90 percent downturn in bookings during the London 2012 Olympics, a survey by an industry group said, with sports fans failing to compensate for those wanting to avoid a packed city. Commuters walk past the Olympic Rings, the symbol of the Olympic Games, at St Pancras international station in London March 3, 2011Photo: Reuters The warning has sparked a debate about the immediate impact on tourism of the July 27-August 12 2012 Games and its longer-term effects. The European Tour Operators Association (ETOA) surveyed 28 of its members, responsible for two million tourists per year, and estimates that approximately 3.5 billion pounds ($5.6 billion) could be lost to the UK economy during this time for both satellite venues and the capital city. "The expectations of visitor numbers currently circulating within the hotel industry are hugely inflated," said Tom Jenkins, … [Read more...] about London Games spark tourist numbers debate