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A forum discussing how to optimise supply chains and competitiveness for enterprises in Vietnam takes place in Hanoi on August 21. (Photo: VNA) Hanoi (VNA) – A forum discussing how to optimise supply chains and competitiveness for enterprises in Vietnam took place in Hanoi on August 21. The event was held by the Institute for Brand and Competitiveness Strategy (BCSI) in partnership with Portland State University from the United States. Speaking at the forum, President of the BCSI Council Nguyen Van Nam said the concept of global supply chains is not new to Vietnamese companies. Since Vietnam’s shift from a centrally planned to market economy three decades ago, the country has set up trade relations with more than 180 countries and drawn investment from over 100 countries. However, most firms only participate in the secondary supply chain, so the products they make don’t have high added value, he said. About 21 percent of small- and medium-sized enterprises in … [Read more...] about Forum discusses optimising supply chain, business strategy

From morning to early afternoon Nguyen Van Chiem in HCM City’s District 1 is bustling with food vendors selling breakfast and lunch and customers coming to eat. A juice stall on District 1's Nguyen Van Chiem Street has QR codes for Momo and GrabPay e-wallet services. It is somewhat startling to see some of the vendors accepting payment by scanning QR codes using e-wallets since it is still a relatively new trend among street vendors in the city. Nguyen Thi Mai Huong, owner of a juice stall on the food street, told Viet Nam News that she had been accepting e-wallet payments since around Tet in early February, including Momo and GrabPay by Moca. Though not many customers used them normally, some five or six people a day would pay using e-wallets during promotions from GrabPay, she said. "It is convenient, it does not take a lot of time, I don't have to return any change and customers don't need to bring cash. It's just that there isn't really a lot of people using it right … [Read more...] about E-wallets’ latest converts: HCM City street vendors

The Vietnam Bank Association (VBA) has repeated its call for the Government to approve charter capital hikes at four major State-owned commercial banks, noting that the delay could adversely affect money supply for the economy. VietinBank employees are at work. The bank is in desperate need of a charter capital hike The credit supply of the four State banks – the Bank for Investment and Development of Vietnam (BIDV), the Vietnam Bank for Industry and Trade (VietinBank), the Vietnam Bank for Agriculture and Rural Development (Agribank) and the Bank for Foreign Trade of Vietnam (Vietcombank) – may not grow, possibly leading to declines in gross domestic product growth and tax revenue for the State, according to the VBA. Also, the capital adequacy ratio (CAR), an international standard that measures a bank’s risk of insolvency from excessive losses, may be violated, which would adversely affect the banks’ operations, international credit ratings and … [Read more...] about Vietnam Bank Association calls for raising charter capital at four major State banks

Adopting advanced technology and improving the localisation ratio of materials and accessories are textile and garment enterprises’ best chance. Visitors to VTG 2019 will be able to sample the world's newest inventions in the textile and garment industry Export milestone Statistics from the General Department of Vietnam Customs show that textile and garment exports in the first nine months of 2019 increased by 9.6 per cent on-year, reaching $24.61 billion – a new record. It is noteworthy that growth was recorded across most export markets. After three-fourths of 2019, the US was still the biggest importer of textiles and garments from Vietnam, with an import value of $11.2 billion, up 8.7 per cent on-year and accounting for 45.5 per cent of the total textile and garment export turnover of the country. Japan imported $2.91 billion worth of textiles and garments, up 10.5 per cent, while the EU (28 nations) $3.2 billion, up 4.6 per cent. South Korea reported strong … [Read more...] about VN textile-garment thrives with technology

All major lead firms in the garment, footwear and electronics industries in Vietnam have adopted a policy commitment on human rights and ethical... A panel discussion at the conference to release the baseline study on the “Implementation of the United Nations Guiding Principles on Business and Human Rights in the Garment, Footwear and Electronics Supply Chains in Vietnam” in HCM City on May 28.  All major lead firms in the garment, footwear and electronics industries in Vietnam have adopted a policy commitment on human rights and ethical issues, a baseline study on the “Implementation of the United Nations Guiding Principles on Business and Human Rights in the Garment, Footwear and Electronics Supply Chains in Vietnam” has found. Speaking at a conference to release the study in HCM City on Monday, Do Quynh Chi, a researcher at the Research Centre for Employment Relations, said: “There are two types of human rights policy commitments: one is a … [Read more...] about More Vietnamese firms adopt human rights commitments