SCG, a conglomerate in the ASEAN region, recently announced that it would accelerate growth for its packaging business, a retail offshoot of its cement-building materials business which has displayed consistent growth.— VNS Photo SCG, a conglomerate in the ASEAN region, recently announced that it would accelerate growth for its packaging business, a retail offshoot of its cement-building materials business which has displayed consistent growth. Roongrote Rangsiyopash, president and CEO of SCG, said: “All SCG business units continue to apply core strategies to build healthy growth and act promptly when challenges need to be handled. The packaging business aims at becoming a total packaging solutions provider by establishing more packaging production bases in ASEAN, especially in markets with constant growth opportunities, and developing innovations and technologies to add value to products, services and production to fulfill the needs of enterprises and consumers’ … [Read more...] about SCG to expand packaging business
Expanding a business internationally
Why expand your Vietnamese businesses to Singapore
The main reasons to expand a Vietnamese business to Singapore are not only close and long-term diplomatic relations, but also low taxes and a favourable business climate. Singapore is an ideal destination for business expansion for a variety of reasons The investment and trade relations between Vietnam and Singapore have continued to grow ever since the establishment of bilateral diplomatic relations. The two countries have a close economic co-operation and opportunities are bilateral: both for Singaporean companies that expand to Vietnam and for Vietnamese companies expanding to Singapore. What are the main reasons to expand a Vietnamese business to Singapore? Low taxes and a favourable business climate are just two of the most important ones. Singapore, a top option for company expansion Singapore is one of the top locations in Asia to expand a business. The city-state has a favourable business climate that allows for a quick and easy company formation or expansion. It is … [Read more...] about Why expand your Vietnamese businesses to Singapore
Firms optimistic about expanding their business
Thanh Cong Group ranks first in the top 10 of FAST500 Ranking Lists 2019. — Photo tinnhanhchungkhoan.vn Nearly 70 per cent of 500 surveyed firms in Viet Nam planned to expand their businesses in the near future as most of them were optimistic about business results in 2018. This was revealed in the FAST 500 Ranking Lists 2019, drawn up annually since 2011, which was announced by the Viet Nam Report and online newspaper VietnamNet on Wednesday. The survey showed 86 per cent of firms reported higher revenue in 2018 than that of previous year while 64 per cent said their after-tax profits had increased. They said the growth in the country and the region was the biggest factor contributing to their high growth rate in the past five years, followed by the expansion of markets and improved infrastructure. The average compound annual growth rate (CAGR) in 2014-18 of the FAST 500 enterprises reached 38 per cent. Notably, the private sector played a key role as momentum for the … [Read more...] about Firms optimistic about expanding their business
Nestle to pay $7.15 bln to Starbucks to jump-start coffee business
Swiss-based food giant Nestle will pay Starbucks $7.15 billion in cash for the rights to sell the U.S. coffee chain's products around the world in a global alliance aimed at reinvigorating their coffee empires. The deal on Monday for a business with $2 billion in sales reinforces Nestle's position as the world's biggest coffee company tries to fortify its place atop a fast-changing market. Seattle-based Starbucks said it will use proceeds to speed-up share buybacks and the deal would add to earnings per share (EPS) by 2021 at the latest. Nestle said it expects the deal to sell Starbucks bagged coffee and drinks adding to earnings by 2019. It will not involve any ofStarbucks' cafes. Nestle and Starbucks are joining forces in a highly fragmented consumer drinks category that has seen a string of deals lately. JAB Holdings, the private investment firm of Europe's billionaire Reimann family, has fueled the consolidation wave with a series of deals including Douwe Egberts, Peet's Coffee … [Read more...] about Nestle to pay $7.15 bln to Starbucks to jump-start coffee business
PCI 2017: A race between provinces
(VEN) - According to the latest Provincial Competitiveness Index (PCI) report, Quang Ninh Province climbed to the top with 70.7 points, followed by the city of Da Nang, and provinces of Dong Thap, Long An, Ben Tre, Vinh Long and Quang Nam. Ho Chi Minh City (65.2) ranked eighth, and Hanoi (64.71) ranked 13th. Fierce competition Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said the average PCI in 2017 is the highest it has been since the ranking’s inception in 2005, and almost all provinces have increased their score. Promoting reforms has yielded positive results. Five direct-controlled municipalities, including Hanoi, Ho Chi Minh City, Da Nang, Hai Phong and Can Tho, have significantly improved their operations and are among the top 15. Provinces at the bottom of the list have also created breakthroughs, narrowing the gap with provinces and cities at the top. In the early years, many localities explicitly asked to exclude them from the … [Read more...] about PCI 2017: A race between provinces