Mexico to face fierce competition from Vietnam: Mexican economists Mexican economists have shared the view that once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect, Mexico will have to face fierce competition from Vietnam in many sectors, such as garments and textiles, leather and footwear, and electronic equipment. Arnulfo Gomez, a foreign trade expert, said Vietnam has successfully implemented a commercial strategy that helps improve the quality and competitiveness of its products on the international market by reducing spending on materials and applying technology in production. With such advantages, Vietnam has more capacity than Mexico to utilise opportunities generated by the CPTPP, he said. The experts suggested that the Mexican Government set forth new measures to raise the competitiveness of domestic businesses, thus avoiding adverse impacts from the deal. Statistics of the Mexican Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 16/12
Vp strategic partnerships
Looking beyond the Grab-Moca tie-up
Looking beyond the Grab-Moca tie-upBy Ngoc Lan The Grab-Moca partnership does not violate the law and benefits both sides - PHOTO: THANH HOA Big foreign enterprises have various tactics to penetrate the Vietnamese market. An example of such manipulations is the recent partnership for digital payment for transport services between the ride-hailing service firm Grab and the digital payment service provider Moca. The final conclusion of the Competition Administration’s (under the Ministry of Industry and Trade) official investigation into Grab’s alleged economic concentration act after its acquisition of Uber Southeast Asia and Vietnam is not yet available, as the investigation is still underway. However, the case seems not to affect much Grab’s operation in Vietnam. To expand and diversify its business, the firm has cooperated with Moca Technology and Service Company in developing the payment service GrabPay by Moca. Since the current rule does not allow direct … [Read more...] about Looking beyond the Grab-Moca tie-up
Vice President visits Vietnamese embassy in Russia
Vice President Dang Thi Ngoc Thinh paid a visit to the staff of the Vietnam Embassy and representatives of the Vietnamese community in Russia on September 18. VP Dang Thi Ngoc Thinh speaks at the meeting The visit was made within the framework of her attendance at the ongoing Asia-Europe Women's Forum in Russia. Speaking at the meeting, Vietnamese Ambassador to Russia Ngo Duc Manh informed the Vice President on the embassy’s operations, expatriates’ affairs, and the development of the Vietnam-Russia comprehensive strategic partnership, particularly after the visit to Russia by Party General Secretary Nguyen Phu Trong earlier this September. For her part, VP Thinh spoke highly of the past efforts made by the embassy staff which have significantly contributed to fostering and developing the time-honored bilateral relations between the two countries. In the first nine months of 2018, Vietnam’s economy grew at a rate of 7.08 pct, the highest in 11 years, she … [Read more...] about Vice President visits Vietnamese embassy in Russia
BUSINESS NEWS IN BRIEF 30/8
E-commerce key for farm exportersVietnamese enterprises should take advantage of e-commerce development to boost exports of farm produce to China, experts said at a meeting on Sunday in HCM City.Wen Xi Chen, economic counselor at the Chinese Consulate General in the city, said Vietnamese enterprises should cooperate with well-known Chinese e-commerce enterprises to open online stores of high-quality farm produce for export to China.While e-commerce has narrowed the production and consumption gap, and extended consumer markets, traditional sale channels have not updated market information regularly, he said.To develop e-commerce for agricultural products, logistics service, traceability and human resources should ensure product quality, he added.Nguyen Hoang Anh, member of the Advisory Council for Reform, who is also vice president of the Digital Agriculture Association (DAA) Viet Nam, said China remained a major market for agricultural products exported from Viet Nam due to similarity … [Read more...] about BUSINESS NEWS IN BRIEF 30/8
Eximbank receives international banking award
US-based Bank of New York Mellon on July 9 granted Eximbank the Straight Through Processing Award (STP Award). Senior management team from BNY Melllon presenting the STP Award to Eximbank The award was presented to Nguyen Ho Hoang Vu, Eximbank’s deputy CEO cum CFO, by BNY Mellon’s senior management team, including Arnon Goldstein, MD, regional head, relationship management–APACMs, and Sharon Quek, VP, regional manager, relationship management. The annual STP Award is given by international banks to correspondent banks who have Nostro accounts with them for international ‘straight-through-processing’ (STP) electronic payment services. This is the eighth consecutive year Eximbank is granted this award, not only by BNY Mellon for its high rate of “straight through processing” messages that are recognised at 97 per cent during 2015-2017, but also from other international banking giants like HSBC and JP Morgan Chase at 99 per cent and 98 … [Read more...] about Eximbank receives international banking award