Twenty-four-year-old Ms. Trinh Van Anh, the manager of an international school in Hanoi, does not have a life insurance policy and hasn’t thought about getting one, even though her monthly salary of $1,000 is higher than most of her peers. “No one recommends I take out a policy,” she said. “No one knows what life insurance covers, what it gives the policyholder, or what the benefits are.” Like Ms. Anh, many other Vietnamese people remain confused about what life insurance can actually bring. Even though premiums in Vietnam are on track for yet another record year, the gains are coming from a very low base and foreign insurers have yet to truly crack the market despite dominating. It should take only a few more years, though, for them to make more substantial headway. Foreign insurers’ playground 2016 continued to see robust growth in Vietnam’s insurance market, with the life insurance segment reaching a ten-year high. Insurance … [Read more...] about Vietnam’s life insurance market faces challenges
Cracked apk market
Quality key to Japan seafood market
HCM CITY — Vietnamese firms should focus on food safety standards if they want to export seafood to Japan, a seminar held in HCM City on Wednesday heard. Vo Thanh Ha, deputy head, North East Asia Division, at the Industry and Trade Ministry's Asia Pacific Market Department, said: "Japanese consumers are particular about quality, durability, and convenience of products." Last year the Japanese government lifted a ban on Vietnamese dragon fruits after they began to be treated to get rid of melon flies in accordance with Japanese standards. Ha apprised delegates about Japanese Industrial Standards for industrial products and Japan Agricultural Standards. Officials from the Japan Environment Association urged exporters to apply for "Ecomark," a certification that a product does not harm the environment. Exporters need to find information about business and technical barriers in Japan from Vietnamese commercial counsellors, Japan External Trade Organisation, and trade groups to crack … [Read more...] about Quality key to Japan seafood market
Vietnamese fashion tries to crack domestic market
Many garment businesses over the past few years have only focused on exporting clothes and forgot the potential domestic market of 86 million of people. Some companies have decided to crack the market, including Viet Tien. In the last five to ten years, the country has seen many new fashion labels which sit in consumers' minds, like Ninomax, PT 2000, Blue Exchange, Viethy and Forci. However, most of them are just for the medium priced market for young fashion. High and low ends of the market are currently flooded by Chinese goods and foreign high fashion businesses. In spite of economic difficulties, the growth rate of domestic fashion consumption has been 25 percent up year on year. This is a good sign for domestic businesses to develop in their own country. However, they have met a lot of difficulties. First is materials, Vietnam has seriously lacked materials for domestic fashion commodities, as well as export items. The next problem is high expenditure for … [Read more...] about Vietnamese fashion tries to crack domestic market
South-south trade offers alternative to hard-to-crack European market
South-south trade offers alternative to hard-to-crack European market (04-12-2006) Vietnamese diplomats abroad spoke to various publications about their experiences helping Vietnamese enterprises overcome the challenges of expanding into foreign markets. Phan Thuy Thanh, head of Viet Nam's delegation to European Commission (EC) "Vietnamese trademarks needed" The European Union (EU) is one of the biggest investors in Viet Nam but the total amount of capital invested lags far behind the potential of a 25-state union. There are two reasons for this situation. One is due to the European habit of not "putting all eggs in one basket." The second reason is that they are awaiting changes in Viet Nam's investment climate after joining the WTO. In fact, investment from the EU has constantly increased, focusing on hi-tech industries, including oil and gas, electricity, water supply, infrastructure, agricultural product and food processing and telecom. Along with attracting investments, Viet Nam … [Read more...] about South-south trade offers alternative to hard-to-crack European market
PM cracks down on land management violations
The PM ordered that those who commited violations in handing over, leasing land or switching land-use purposes, land registration, granting land certificate must be punished strictly.In particular, tough punishments must be imposed on heads of organisations and units which loosen management on land encroachment, transfer, illegal land-use changes and unauthorised land handovers.Land auctions must follow regulations, especially the auction of “golden land” to avoid waste to State budget and corruption.The Ministry of Defence has been assigned to work with the Government Inspectorate, Ministry of Natural Resources and Environment and people’s committees of provinces and cities at central level to review and investigate the management and use of defence land nationwide.Any violations such as illegal use, lease or encroachment of defence land must be dealt with. Heads of organisations and units involved in violations will also be fined. Investigation results must be … [Read more...] about PM cracks down on land management violations