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
UAE firms encouraged to expand investment in Vietnam
Deputy Prime Minister Trinh Dinh Dung (right) and Naser Al Hajri, Mubadala Petroleum’s Senior Vice President for Operations in Southeast Asia. (Photo: VNA) Hanoi (VNA) – The Vietnamese Government will create favourable conditions for Mubadala Petroleum and other enterprises of the United Arab Emirates (UAE) to invest and expand business in Vietnam, said Deputy Prime Minister Trinh Dinh Dung. Dung made the pledge at a reception in Hanoi on October 17 for Naser Al Hajri, Mubadala Petroleum’s Senior Vice President for Operations in Southeast Asia, during which he applauded the company’s achievements as well as its future investment initiatives in Vietnam. The Deputy PM suggested Mubadala Petroleum expand its investment in other oil and gas blocks, and other areas such as renewable energy by launching new projects or cooperating with domestic and foreign firms in Vietnam. Highlighting the fruitful relationship between Vietnam and the UAE, Dung said the two … [Read more...] about UAE firms encouraged to expand investment in Vietnam
BUSINESS NEWS IN BRIEF 17/10
Hanoi Gift Show 2018 to draw more than 250 exhibitors Local airlines increase aircraft fleet Data from the Civil Aviation Administration of Vietnam (CAAV) show that the number of aircraft registered in Vietnam amounted to 175 as of September, up 14% year-on-year. Cat Lai customs work with 58 shipping firms over waste imports Customs officials at HCMC's Cat Lai Port have worked with representatives of 58 shipping companies that have transported over 3,000 containers of scrap to the port to determine their responsibilities and brief them of the Prime Minister’s Directive 27 on solutions to enhance control over imported waste, Thanh Nien newspaper reported, citing Pham Thi Leo, deputy head of Saigon Port Area 1 Customs Office. Leo said the customs agency was cooperating with these shipping companies in line with the 2014 Customs Law and 2005 Maritime Law. Shipping companies were asked to carry ineligible scrap imports out of Vietnam. They must assume responsibility for the waste … [Read more...] about BUSINESS NEWS IN BRIEF 17/10