Vietnam

“I expect Vietnam’s economy to continue to be one of the world’s fastest growing in the coming years,” said Dr. Frank Jurgen, Chairman of the Horasis in an interview with VietNamNet’s Lan Anh. Vietnamese Deputy PM Trinh Dinh Dung and Dr. Frank Jürgen Richter, Chairman of  Horasis - Photo: VGP This is the second time that the Horasis Meeting will be organized in Vietnam. What are the key messages and solutions to be given at the meeting? How do you think foreign investors view Vietnam? Vietnam is stuck in the middle of the US-China trade war. What are the advantages and challenges that Vietnam faces? Vietnam's economy in the past 30 years has been growing rapidly and is one of the best in the world. However, other economies have also been growing fast and strongly. Do you think that Vietnam has a chance to catch up with those economies? What are the areas that Vietnam needs to change? How long do you think the US-China trade war … [Read more...] about Vietnam – a destination for foreign investors

A new e-wallet launched in Vietnam on Monday has raised the number of mobile payment service providers in the Southeast Asian country to nearly 30, but only a few key players have managed to assert their presence in the fiercely competitive market. Alibaba-owned online marketplace Lazada debuted its own digital wallet, eM, in Vietnam on the e-commerce firm’s biggest annual sale event on Monday, becoming the newest competitor in the market. According to data by the payment department at the State Bank of Vietnam, Payoo, MoMo, SenPay, Moca, and AirPay were the five largest e-wallets in Vietnam by account balance as of August 2019, making up more than 80 percent of the country’s total market balance. The five e-wallets also account for 95 percent of transaction value in the whole market, the online news site VnExpress reported. Meanwhile, AirPay, MoMo, SenPay, Moca, and VTC Pay lead the number of accumulated issued accounts. Driven by e-commerce Truong Hong Lien, … [Read more...] about ‘Top dogs’ powered by e-commerce share Vietnam’s e-wallet market

Meeting barriers in loyal markets, Vietnam’s businesses have begun eyeing Nepal, the Democratic People’s Republic of Korea and Islamic countries in an effort to diversity export markets. The Halal Certification Office in Tan Binh district in HCMC confirmed that hundreds of Vietnam’s businesses have come to the office to receive training and follow procedures to obtain certificates on meeting Halal standards for Muslims (with no pork, dog meat, alcoholic ingredients and prohibited additives in the content). The businesses include big names such as Orion Vina Food, Vinamilk, Nestle Vietnam, Cai Lan Vegetable Oil, Tien Giang Food and Friesland Campina. Many certificates were granted to seafood companies, including Minh Phu, An Phu and Hung Ca. Nguyen Thi Ngoc Hang, head of marketing division of the office, said Vietnam has great advantages in exploiting Halal market because it has abundant farm and seafood materials. The businesses include big names such as Orion … [Read more...] about Vietnam’s businesses try to exploit unfamiliar markets

With 3.3 million motorbikes bought each year, the fourth largest market in the world for motorbikes continues to grow, with manufacturers launching new models into the Vietnamese market. The Vietnam Association of Motorbike Manufacturers (VAMM) says that 3,386,097 motorbikes were sold in 2018, an increase of 3.5 percent over 2017. In Q1 2019, the total number of products sold by its five members, namely Honda, Yamaha, Suzuki, SYM and Piaggio, were 753,934, of which the sale of Honda accounted for 74.6 percent. These figures were released by foreign invested motorbike manufacturers in Vietnam. Other brands also have products sold in the market, from popular brands such as Kymco to better known ones such as Kawasaki. Soon after launching Freego, a scooter model for men in mid-May, in early June, Yamaha Vietnam introduced Latte 125 cc for women. The Italian manufacturer Piaggio introduced Vespa Sprint S and Vespa Primavera. In early June, it once again launched new models – Piaggio … [Read more...] about Vietnam motorbike market remains healthy

By increasing processed and high-tech products and taking advantage of free trade agreements, Vietnam’s goods are being increasingly chosen by consumers in the world market. The Ministry of Industry and trade (MOIT) reported that raw exports are on the decrease, while processed and hi-tech industrial products are on the rise, especially farm produce, phones and electronic components. By the end of April 2019, phone and electronic export turnover had reached $16.01 billion, of which the exports to the EU alone brought $.438 billion. Meanwhile, Vietnam earned $3.32 billion from the US market, an increase of 94.4 percent, and $1.67 billion from South Korea, an incraese of 8.1 percent compared with the same period last year. As for textiles and garments, the export value in the first four months of the year was $9.46 billion, increasing by 10.2 percent. According to the General Department of Customs (GDC), the US remains the biggest textile and garment importer, consuming $4.42 … [Read more...] about Vietnam’s exports see more opportunities in world market