Shipbuilding industry corporation

Improving capacity A series of giant manufacturers operating in Vietnam, among them Panasonic, Bosch, TTI, Samsung, and Klaus, are seeking additional local suppliers and increasing their localization rate in order to optimize production and business efficiency. To welcome the shift of foreign investment, numerous domestic companies have made great strides to improve their capacity in the race to become major suppliers for large international corporations. In 2019 and 2020, for example, three member companies of the An Phat Holdings Group (APH) implemented consulting programs on improvement and development of supporting industries offered by the Ministry of Industry and Trade (MoIT) and Samsung. APH's long-term goals are to improve the localization of products, develop high-tech products, expand investment, and deepen and enhance its position in the global supply chain. Dong Nai Province prioritizes investment attraction in support industries According to Le Tri …

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Reviewing production projects to ease difficulties and create export goods Vietnam's processing and manufacturing industries are highly dependent on imported input materials and components because of the country’s underdeveloped supporting industry, especially in key sectors such as electronics, textiles, leather, automobile manufacturing and assembling. Since the outbreak of Covid-19, many Vietnamese businesses have shifted to domestic suppliers to overcome global supply chain interruptions and save costs. “The move could promote the development of the manufacturing and assembly of finished products, turn Vietnamese key processing and manufacturing enterprises into big groups in the region, leading to supporting industry development,” the MoIT announced. Moreover, a large number of foreign businesses have flocked to Vietnam to access tax and investment incentives provided by various free trade agreements (FTAs) to which it is a signatory. The MoIT said foreign-invested …

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The Vietnamese economy in the third quarter of 2021 has been severely affected by COVID-19, with all facets of the economy and enterprises left in the lurch. In this context, many commercial banks have taken the initiative in reducing cost and profit targets while increasing packages of preferential loans to give more support to people and enterprises. BAC A BANK always accompanies enterprises and individuals with preferential loans In addition to its fight against the pandemic and ensuring its staff and customers at transaction spots and keeping smooth operations to serve the economy’s demands, BAC A BANK has earmarked many types of attractive incentives for individual customers within September 7 to December 31, 2021, with the loans disbursed before January 31, 2022 at all branch systems of BAC A BANK nationwide. The preferential loans are aimed to help the customers to purchase real estate and automobiles, build and/or repair houses, supplement loans, and invest …

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About 67 per cent of surveyed banks believe they will lose market share within two years if they fail to digitally transform, according to a new... Some 58 per cent of global respondents predict that they will completely cease to exist in the next five to ten years unless they change their business models. — Photo bnews.vn About 67 per cent of surveyed banks believe they will lose market share within two years if they fail to digitally transform, according to a new report from cloud banking platform Mambu and The Financial Times Focus (FT Focus). The ‘Evolve or be extinct’ report was conducted by FT Focus and surveyed over 500 senior banking executives globally to gain insights into their perception of the banking industry, now and in the future. The results illustrate the urgent need for banks to modernise their offerings, with 58 per cent of global respondents predicting they will completely cease to exist in the next five to ten years unless they change …

[Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 19

Vietnam to attend ASEM Cultural Festival 2021 Vietnam and 10 other countries have signed up to participate in the ASEM Cultural Festival (#ASEMfest), a side event of the 13th Asia-Europe Meeting (ASEM) to be hosted by Cambodia in November. The ASEM Cultural Festival 2021 is scheduled to get underway between November 22 and 26. This international cultural event will be held virtually with the main activities such as performing arts, and the screening of feature films and documentaries, as well as the exhibition which would be held in hybrid format at the National Museum of Cambodia. The festival aims to explore the cultural diversity and promote the exchange, cooperation and artistic creation between the cultures of both regions, contributing to enhancing cooperation and development between the ASEM partner countries. Joining as a founding member of ASEM in 1996 marked an important step in the implementation of Việt Nam's policy of open foreign policy, multilateralisation and …

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