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/ February 24, 2021

Which sectors in Vietnam are dominated by Thai companies?

In the last decade .their investments in Vietnam swelled by an average of 13 percent a year. By the end of last year their total investment was only around $13 billion, not enough to put Thailand in the top five list, but still managed to have large market shares in several sectors by concentrating their investment in a handful of sectors. In the retail sector, some leading supermarket chains are controlled by two Thai companies, Central Group and TCC Group. Central Group, Thailand’s leading retailer, which belongs to the Chirathivat family, started off in Vietnam as a fashion merchandiser in 2012, distributing products from brands such as SuperSports, Crocs and New Balance. In 2015, it acquired a 49 percent stake in electronics retailer Nguyen Kim through its subsidiary Power Buy. In the same year, it bought out supermarket chain Lan Chi, which operates mainly in northern rural areas. In 2016, it bought supermarket chain Big C Vietnam from France's Casino Group for over $1 billion. TCC Group, owned by the third richest man in Thailand, Charoen Sirivadhanabhakdi, bought convenience store chain FamilyMart in 2012 and renamed it B’s mart. In 2016, it bought wholesale chain Metro Cash & Carry Vietnam for €655 million ($796 million) and rebranded it as MM Mega Market Vietnam a year later. TCC Group also dominates the beverage industry after acquiring a 53.59 percent stake in Vietnam’s top brewery, Sabeco, in 2017. Fraser and Neave, Limited, a food and beverage company also owned by Sirivadhanabhakdi, is the biggest foreign shareholder in dairy behemoth Vinamilk. Siam Cement Group (SCG), which dominates the packaging industry, recently signed an agreement to buy 70 percent of Duy Tan Plastics , the largest manufacturer of rigid plastic packaging products in Vietnam. It now owns eight packaging companies in the country. SCG has over 20 subsidiaries in the cement and building materials, chemicals and packaging industries. In the livestock …

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/ February 24, 2021

Five Indonesian sailors anchored in Vietnam water positive for Covid-19

The Hanoitimes - Test results have shown that at least five out of 20 Indonesian sailors have tested positive for SARS-CoV-2 and one suspected case. Five Indonesian sailors aboard Ocean Amazing ship that is anchored off Vietnam’s southern province of Ba Ria-Vung Tau have tested positive for the novel coronavirus, according to the provincial Steering Board for Covid-19 Prevention and Control. Foreign sailors are tested Covid-19 upon entry into Vietnam in December, 2020. Photo: Dong Ha In the steering board’s report, the foreign ship has been on the way to deliver commodities from Indonesia since February 20. When it went across Vietnam’s waters, one of the sailors on the ship died due to an unidentified non-health-related issue. The Vung Tau province's Center for Disease Control (CDC) in coordination with related agencies have taken samples for the remaining 20 sailors on board in the first test for the novel coronavirus. Test results have shown that at least five out of them have tested positive for SARS-CoV-2 and one suspected case, the provincial CDC said. The second test is under way. If it too returns positive, the ship will be sent back to Indonesia for replacing the crew and disinfection before it can return to Vietnam with the cargo. As of February 24, the sailors were still on the ship anchored at sea, and have not carried out procedures to enter Vietnam. Ba Ria - Vung Tau province is waiting for the Ministry of Health’s direction for the case. At the time of writing, Vietnam has had 2,412 Covid-19 cases, 585 still active. …

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/ February 24, 2021

Vietnam trade surplus surges to US$2.09 billion in January

The Hanoitimes - Phones and parts posted the largest export turnover among export items during January with US$6.1 billion, up US$3.4 billion against the same period of last year. Vietnam recorded a trade surplus of US$2.09 billion in the first month of 2021, which remained a stark contrast from a deficit of US$300 million in the same period last year, according to the General Department of Vietnam Customs (GDVC). Production for exports at Garment 10 Company. Photo: Pham Hung. In January, the country’s trade turnover stood at US$55 billion, representing an increase of 48.2% year-on-year, in which exports rose by 55.1% to US$28.55 billion and imports by 41.3% to US$7.74 billion. According to the GDVC, foreign-invested sector posted a trade surplus of US$3.98 billion during the period, coming on the back of a 70% surge in exports year-on-year to US$21.57 billion, or over 75% of the country’s total export turnover. Phones and parts posted the largest export turnover among export items during January with US$6.1 billion, up US$3.4 billion against the same period of last year. In addition, electronic products, computers and components earned an estimated US$3.89 billion, up 46.2% year-on-year; garments (US$2.66 billion); equipment and parts (US$3.26 billion). The US, China, EU, South Korea and ASEAN are the five largest buyers of Vietnamese goods in January. Vietnam, meanwhile, mainly imported goods from China worth US$9.16 billion, up 64.1% year-on-year and accounting for 34.6% of the country’s total imports. South Korean came in the second place (US$4.75 billion), followed by ASEAN (US$3.18 billion) and Japan (US$1.68 billion). …

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