Manufacturers like VinFast must keep pace with innovations in the automotive industry, Photo: Le Toan Lee Jae Seung, CEO of auto parts maker PHA Vietnam, said, “Once our automotive parts manufacturing project comes online in September, our products will serve big car manufacturers like Volkswagen, BMW, Audi, Ford, and Hyundai.” PHA Vietnam is led by a group of Pyeong Hwa Automotive, YMP Plus, Dong Yang Vina Industry Co., Ltd., and MiChang Vietnam. They started construction of four automotive parts manufacturing plants with the total investment capital of $32.3 million in the northern city of Haiphong’s DEEP C Industrial Zones late last year. The move aligns with the Vietnamese government’s policies on promoting investment in the local supporting industries. Gaining a competitive edge Daniel Doni Sundjojo, business development manager at JATO Dynamics, which globally provides data for analysis of market trend vehicles and cars, said, “When we talk about … [Read more...] about Pedal to the metal in auto production
Ideal auto imports
BUSINESS NEWS IN BRIEF 30/12
Vietnamese ride-hailing FastGo launched in Myanmar FastGo Viet Nam on Friday officially launched its service in Myanmar, becoming the first Vietnamese firm in the ride-hailing sector to expand its operations to foreign markets. FastGo plans to introduce its services in big cities in Myanmar in 2019, with 2 million users and 100,000 drivers. In addition, it would continue to invest and call for investment to develop new services in the market. It would maintain its competitive advantage of no commission for driver partners and not increasing fares during peak hours or adverse weather conditions. Speaking at the launch ceremony, Nguyen Huu Tuat, FastGo’s general director said with the foundation of global technology and service operation know-how, FastGo would continue to invest to develop new services in Myanmar. “We expect to become a part of Myanmar and a trusted partner,” he added. He said the company chose to launch in Myanmar first as they have a partner – … [Read more...] about BUSINESS NEWS IN BRIEF 30/12
BUSINESS NEWS IN BRIEF 20/11
New trends in Vietnam’s rice exports 2018 is witnessing new trends in Vietnam’s rice export sector, notably the priority of exporting high-quality rice through international bidding as well as stricter and more diverse trade barriers from importing countries. Preliminary data by the General Department of Customs shows that Vietnam exported 264,500 tonnes of rice in October, generating a revenue of US$135.56 million, up 22.96% in volume and 31.8% in value, compared with the same month last year. The total volume of rice exports in the first ten months of 2018 was 5.15 million tonnes, worth US$2.6 billion, representing year-on-year increases of 6.62% and 21.49% in volume and revenue respectively. What is notable during the period is that the price of Vietnamese rice has now surpassed that of Thailand, averaging at more than US$500 a tonne, up about 15%. In 2016, Vietnam exported 4.8 million tonnes of rice, bringing in US$2.1 billion. The respective volume and revenue figures … [Read more...] about BUSINESS NEWS IN BRIEF 20/11
Developing new value for 30 years
Developing new value for 30 years, photo: shutterstock Mikio Masawaki-General director, Sapporo Vietnam Sapporo officially entered the Vietnamese market in 2011. At the beginning, we invested more than $50 million into building Long An Brewery to Japanese standards to ensure the quality of Sapporo products in Vietnam. Beside Japan, this is our first overseas brewery. Vietnam is one of the most interesting and dynamic beer markets in the world, with high potential growth supported by many beer lovers. With the mission, “Contribute to enriching Vietnamese cuisine,” Sapporo Vietnam offers consumers safe and high-quality beer products according to Japanese standards and also the best match to Vietnamese consumers’ taste. According to our Brand Health Research in 2018, our flagship brand – Sapporo Premium Beer – is trusted by nearly 100 per cent of target customers, and it is gradually becoming a unique brand in the premium beer segment. Sapporo Premium Beer … [Read more...] about Developing new value for 30 years
BUSINESS NEWS IN BRIEF 14/8
Hong Kong calls for investment from Vietnam Hong Kong is currently an ideal destination for Vietnamese firms to expand operations abroad, heard a round-table seminar in Ho Chi Minh City on August 13. Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch, held that Vietnam and Hong Kong are key major trade partners of each other with bilateral trade reaching 9.2 billion USD in 2017, up 22 percent from 2016. As of June 2018, Hong Kong was the sixth largest foreign investor in Vietnam with a total capital of nearly 19 billion USD, he said. With the ASEAN-Hong Kong free trade agreement, trade and investment between Vietnam and Hong Kong are both expected to grow fiercely in the near future. Vietnam is encouraging firms to expand investment abroad to popularise Vietnamese products across the world. Thanh hailed Hong Kong as a free, developed economy with a strategic location, modern infrastructure, and large capital … [Read more...] about BUSINESS NEWS IN BRIEF 14/8