Vietnamese economy

13:09 | 23/07/2019 VGP - As of December 31, 2018, Viet Nam had 714,755 enterprises, of which more than 66% were operating in service sector, according to the White Book on Vietnamese Businesses 2019. … [Read more...] about Infographics: Facts and Figures of White Book on Vietnamese Businesses 2019

Minister and Chairman of the Government Office Mai Tien Dung speaks at the event During the event, U.S. Ambassador to Viet Nam Daniel J. Kritenbrink noted that SMEs play an important role in the country’s economic future as they greatly contribute to GDP and generate jobs. However, only a small number of SMEs are currently linked with the international supply chain. As a result, the US is committed to working alongside Viet Nam to help SMEs adapt to the global economy, stated Ambassador Daniel J. Kritenbrink. Minister and Chairman of the Government Office Mai Tien Dung emphasised that the LinkSME Project has got underway after an entire year of preparation. The event is the result of joint efforts made by the Government Office, the United States Embassy in Vietnam, the United States Agency for International Development (USAID), as well as the Ministry of Planning and Investment. The development of Vietnamese SMEs under the LinkSME project will be of great significance to … [Read more...] about U.S. kicks off US$22.1 million project for Vietnamese SMEs

Up to 9,211 imported scrap containers had still been left at Vietnamese ports by the end of June this year The highest number of unclaimed scrap containers focus on ports in the southern provinces of Ba Ria-Vung Tau, Haiphong and HCM City. To improve the situation, the Ministry of Finance has proposed Prime Minister Nguyen Xuan Phuc solutions to handle the scrap containers that have long been abandoned at local ports. … [Read more...] about More than 9,200 scrap containers stuck at Vietnamese ports

China's automobile manufacturers have a low-pricing strategy. The Z8 model of Zotye and Q7, and X65 and BJ40 of BAIC have design nearly similar to models of famous manufacturers Porsche and Mercedes Benz, but they are much cheaper. While European models have selling prices of several billion dong, Chinese cars are priced at VND700 million, though they are equipped with fashionable utilities. Chinese cars are distributed through small car dealers who import cars to order. Recently, some Chinese manufacturers opened showrooms in Vietnam and are seeking partners to work as sale agents in cities and provinces. Dong Feng Feng Xing, for example, has opened a large showroom on Highway No 13 in Hiep Binh Chanh Ward of Thu Duc District, HCMC. Next to the area for displaying cars, there is a maintenance service area with sufficient equipment. A representative of Dong Feng Feng Xing said the company is popularizing its brand to strengthen its presence of Dong Feng’s products in Vietnam. It … [Read more...] about Vietnamese remain hesitant about Chinese cars

A motorbike driver rides on the Bac Giang - Lang Son Expressway which was invested by a Vietnamese company. Photo by VnExpress/Giang Huy. But first they will have to take part in a qualifying round next month before they can bid for the work. Nguyen Danh Huy, director of the Ministry of Transport’s public-private partnership department, said local investors still need to have funds equivalent to 20 percent of the project cost, but criteria related to capability and experience are being reviewed to make them less stringent than they were for foreign investors, he told VnExpress. A number of Vietnamese investors had qualified in the recent international evaluation round, but need to be reevaluated for the new tender, he said. His department would seek to speed up tender procedures so that could begin as scheduled. The ministry on Tuesday ruled out foreign investors for the eight sections of the expressway saying only few qualified and this could lead to a … [Read more...] about North-South Expressway bids open only to Vietnamese investors