Experts can see high risks in using money from the state budget to increase the charter capital of state-owned banks. The State Bank of Vietnam (SBV), in its additional report on monetary policy management in 2018 and the first months of 2019, has proposed to amend the current laws to allow use of state’s money to raise the charter capital of state-owned banks, except zero-dong banks. The State Bank of Vietnam's headquarter Zero-dong banks are weak banks which have been forced to transfer to SBV under the central bank’s restructuring plan. Analysts said that raising banks’ chartered capital with state’s money is the last resort and will be ineffective. Vietnam needs to restrict spending in the context of a scanty budget, while the country needs money for investment. Cao Sy Kiem, former SBV Governor, said state-owned banks are holding large market share and most of them make high profit, thus bringing benefits to the state budget. Therefore, the investment in … [Read more...] about Should the state spend money to raise capital in state-owned banks?
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With 3.3 million motorbikes bought each year, the fourth largest market in the world for motorbikes continues to grow, with manufacturers launching new models into the Vietnamese market. The Vietnam Association of Motorbike Manufacturers (VAMM) says that 3,386,097 motorbikes were sold in 2018, an increase of 3.5 percent over 2017. In Q1 2019, the total number of products sold by its five members, namely Honda, Yamaha, Suzuki, SYM and Piaggio, were 753,934, of which the sale of Honda accounted for 74.6 percent. These figures were released by foreign invested motorbike manufacturers in Vietnam. Other brands also have products sold in the market, from popular brands such as Kymco to better known ones such as Kawasaki. Soon after launching Freego, a scooter model for men in mid-May, in early June, Yamaha Vietnam introduced Latte 125 cc for women. The Italian manufacturer Piaggio introduced Vespa Sprint S and Vespa Primavera. In early June, it once again launched new models – Piaggio … [Read more...] about Vietnam motorbike market remains healthy
Vietnam’s cat chu mango is sold in Japan at higher prices than mangoes from Thailand and the Philippines though its quality is not higher (Photo: kienthuc.net) HCM City (VNS/VNA) - To gain entry to the Japanese market, Vietnamese firms should pay attention to two factors, quality and price, experts told a roundtable on “Selling products to Japanese market” in Ho Chi Minh City on December 12. Yuichiro Shiotani, general director of Aeon Topvalu Vietnam, said Japan is a dream market for many businesses around the world and is therefore very competitive. He said the value of a product is defined by its quality and price, meaning if a product’s quality improves, its value goes up. So if a foreign company wants to export to Japan, it should know how they are going to compete with the many rivals who sell the same products as them, he said. “If the quality is the same, Japanese consumers will choose the cheaper product regardless of whether it is … [Read more...] about Quality, price key to conquering Japan: experts
Economists and businesses all believe that developing the night-time economy will bring new opportunities to Vietnam. PM Nguyen Xuan Phuc recently asked relevant ministries and localities to study China's night economy policy. Nguyen Quoc Ky, chair of Vietravel Economists and businesses all believe that developing the night-time economy will bring new opportunities to Vietnam. I think Vietnam will not be able to retain foreign travelers, help locals earn more money and develop local economies if it doesn’t offer night tourism products. Phan Dinh Hue, director of Vong Tron Viet Travel Pham Trung Luong, deputy chair of the Vietnam Tourism Training Association Nguyen Cong Hoan, CEO of Hanoi Red Tours Dang Dong Ha, deputy director of Quang Binh Tourism Department Mai Lan Hue and Da Nang see drop in South Korean travelers There are signs showing a decline in number of travelers from South Korea, the biggest market for Thua Thien-Hue and Da Nang, the two … [Read more...] about How should Vietnam develop its night-time economy?