VietNamNet Bridge - Many foreign registered investment projects capitalized at several millions of dollars each have been set up in Vietnam. Economists have warned that the existence of the micro enterprises will cause difficulties for domestic ones. In the first 3 months of 2018, Vietnam licensed 618 foreign invested projects FDI down by 30 percent Big foreign investors tend to bring satellite enterprises with them when coming to Vietnam, so Vietnamese enterprises don’t have the chance to join large corporation’s production chains. This is one of the reasons why Vietnam’s support industries remain underdeveloped. Vietnam, in attracting foreign direct investment (FDI), seeks huge foreign capital. The FDI picture in the first quarter of the year was unsatisfactory, not only because of micro projects, but also because of the lack of multi-billion dollar projects. RELATED NEWS Vietnam targets US, EU investors in new-generation FDI strategy Will … [Read more...] about Micro foreign-invested businesses flock to Vietnam
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Vietnam vows to build smart cities despite huge challenges
VietNamNet Bridge - Vietnam targets building at least three smart cities in 2017-2020. But to reach that goal, it needs to have better infrastructure, more money and a more qualified workforce. Vietnam targets buildings at least three smart cities in 2017-2020 According to the Ministry of Information and Communication (MIC), the biggest problem is that technical infrastructure cannot catch up with rapid urban development, causing traffic jams, lack of running water, flooding and pollution. The biggest problem is that technical infrastructure cannot catch up with rapid urban development, causing traffic jams, lack of running water, flooding and pollution. In Vietnam, a smart city is generally understood only as "the use of IT at a high level to improve the quality of people’s life". Sharing economy RELATED NEWS Vietnam to have more smart cities: Experts Developing smart cities must firstly base on smart planning Kim Chi … [Read more...] about Vietnam vows to build smart cities despite huge challenges
Who rules Vietnam’s coffee market?
VietNamNet Bridge - The domestic coffee market in the past was controlled by big players Trung Nguyen, Nestcafe and Vinacafe. But now the competition is stiff, with the presence of many strong brands. Vietnam is a big coffee exporter In 2013, the market began heating up with the arrival of Starbucks and other coffee chains, including South Korea’s Coffee Bene, the US’s PJ’s Coffee and Vietnam’s The Coffee House, Trung Nguyen, Highlands, Phuc Long and Passio.‘Laymen’ also grow coffee Vietnam has over 150 coffee export companies and 3,000 coffee collectors, but only one-third of enterprises have coffee bean processing factories that make products for export. This is the first state-owned enterprise in Dak Lak to be equitized.The battle of the coffee chains RELATED NEWS Vietnam’s coffee industry relies on merchants Firms aim for higher profits by selling processed coffee Chi Mai … [Read more...] about Who rules Vietnam’s coffee market?
Vietnam instant noodle market controlled by three big brands
VietNamNet Bridge - Fifty instant noodle manufacturers exist in Vietnam, but the market is controlled by three big players, namely Acecook, Asia and Masan. Consumers buy instant noodle more than one time each month A survey by Kantar Worldpanel showed that instant noodles are one of the most regularly bought fast-moving consumer goods, about 18 times a year on average. In urban areas, foreign brands are holding market share of 60 percent. Acecook alone holds 50 percent of market share. The market has grown by 8 percent in value and 3 percent in quantity in urban areas, higher growth rates than 2016. However, the rural market saw decreases in both value and quantity. RELATED NEWS Vietnam consumes 4.9 billion instant noodle packets a year Vietnam's instant noodle surges Thanh Lich … [Read more...] about Vietnam instant noodle market controlled by three big brands
Vietnam’s textile & garment industry expect big benefits from EVFTA
VietNamNet Bridge - Once the EU-Vietnam FTA (EVFTA) is signed and the tariff is cut to zero percent, textile and garment exports to the market may obtain 7-8 percent growth rate per annum, experts say. Vo Van Kien Nhan from Viet Tien Garment JSC said he is looking forward to the signing of EVFTA and puts high hopes on the agreement, though he anticipates serious competition from foreign brands such as Zara and H&M. The belief in the high export growth rate from the EU is consolidated by optimistic forecasts about the EU economy. The International Monetary Fund (IMF) predicts a 2.2 percent GDP growth rate for the EU this year. Rong Viet Securities, in its latest report, also affirmed that in the context of the world’s stable economic growth, especially in the EU, the shock to Vietnamese enterprises caused by the sharp fall orders in 2016 will not occur again. RELATED NEWS Vietnam, EU move to finalise EVFTA ratification EVFTA to be ratified in 2018 … [Read more...] about Vietnam’s textile & garment industry expect big benefits from EVFTA