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In their end-of-term report, JICA experts identified the urban planning for the area surrounding Lien Chieu Port, a transport connectivity plan, a plan to find suitable locations for terminals, the feasibility of a public-private partnership, a model for effective management and operation of this port, and an appropriate investment plan harmonising interests of both State and private sector. Vice Chairman of the Da Nang People’s Committee Le Quang Nam said the Prime Minister, in his decision to give the in-principle approval, requested the municipal People's Committee to promptly carry out procedures to select capable investors to build and run terminals of Lien Chieu Port in line with legal regulations. He said JICA’s participation and assistance in preparing for the project are highly necessary that will create a prerequisite for the development of this port. Shimizu Akira, Chief Representative of the JICA Vietnam Office, said Lien Chieu Port should be put into use as soon as possible, adding that the consultancy group will take into account the city’s opinions to perfect the port development plan. He also expressed his hope for continued cooperation from local authorities in this issue. The common infrastructure component of the Lien Chieu Port project was approved in principle by the Prime Minister on March 25, 2021, aiming to build infrastructure for common use in the port so as to create a foundation for developing a seaport in the Lien Chieu area. It is expected to have total investment of more than 3.4 trillion VND (147.4 million USD) and be carried out from 2021 to 2025. Source: VNA …

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Digiworld aims to grow 25 per cent on average annually in the next decade Two months ago, Digiworld’s executive told securities firms that a partner producing and assembling Xiaomi tech products is opening a plant in Vietnam’s northern port city Haiphong, and that the plant would commence operation in the second half of this year. Albeit the information was not yet confirmed by Digiworld’s leadership at the company’s recent annual general shareholders’ meeting on April 4, the company’s CEO Doan Hong Viet was quoted as saying, “This is informal information; Xiaomi and Digiworld will be making an official announcement on a suitable timing in the future.” In fact, Digiworld is the exclusive distributor of all Xiaomi products in the Vietnamese market. According to Viet, home appliances would be one of hte key segments of Digiworld by 2024 with the target of holding a "remarkable market share", in which TV sets would secure the largest share in value. The home appliances market, with teh main items being TV sets, refrigerators, washing machines, ovens, and the like, has been totally untouched by Digiworld until the present. Viet explained that the overly high import duty of about 15 per cent was the reason why Digiworld had yet to engage in importing products for distribution and wholesale in the Vietnamese market. At the recent AGM, CEO Viet also lifted the curtain on Digiworld’s intention to venture into other product segments to realise the target of reaching a market cap in the billion-dollar range. “If there was a plant assembling Xiaomi products in Vietnam, the tariff barrier would disappear, providing the bedrock for us to break into this up-and-coming segment. This will be the answer for the question how Digiworld would attain an annual growth pace averaging 25 per cent in the upcoming decade,” said Viet. On the sidelines of Digiworld’s annual general meeting (AGM), Viet said that the company will be making an official foray into the …

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However, this figure is a bit lower than the Asia Pacific and global average of 65 percent and 64 percent, respectively, according to a survey conducted by PricewaterhouseCoopers (PwC), which interviewed 2,800 family business leaders in 87 economies, including 33 from Vietnam. For 2022, 33 percent of surveyed family business leaders from Vietnam expect quick, aggressive growth, higher than the regional average of 28 percent and the global figure of 21 percent. Business expansion and technology adoption are the key priorities of Vietnamese family businesses in the coming years, the survey found. While 55 percent said they would focus on creating new products and services, 52 percent mentioned increased use of new technology. Over half (52 percent) of the Vietnamese respondents expect that the next generation to become majority shareholders within five years’ time, but just 36 percent said they have a formal succession plan in place. Vietnamese family businesses seemed to lag behind in terms of digital capabilities, with just 30 percent saying they were strong in this area against the global average of 38 percent. Family businesses are a core economic factor in any country, including Vietnam. The 100 largest family businesses contribute about 25 percent of the country’s GDP, Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), has noted. Among the 50 best listed companies in Vietnam are many family businesses, including Vietnam's biggest listed company Vingroup, budget airline Vietjet Air, major education company Thanh Thanh Cong, and Vietnam's largest ice-cream producer Kido. As many as 95 percent of Vietnamese enterprises are family businesses and the majority are led by the first generation or the first two generations, he added. …

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