15 June 2017

Vietnam’s support industry viewed as boasting huge potential

  • SBV says interest rates now reasonable

SBV says interest rates now reasonable Tu Hoang HANOI - Interest rates of 6-11% per year for Vietnam dong loans and 3-4% for those in foreign currency are reasonable, according to the State Bank of Vietnam (SBV). Delivering a report at a meeting between the Prime Minister and private business in Hanoi on May 17, SBV governor Le Minh Hung said that compared to regional countries, those rates are acceptable as the rate is 13% in Myanmar, 11.9% in Indonesia, 6.3% in Thailand and 5.4% in Singapore. The central bank received a total of 29 proposals from businesses in the…... [read more]

  • Samsung Vietnam back to high export growth path

Samsung Vietnam back to high export growth path Le Hoang HCMC - Samsung Vietnam’s export growth has regained some momentum as it looks to obtain US$11 billion from exports in the second quarter of 2017, said general director Han Myoung Sup. At his meeting with Prime Minister Nguyen Xuan Phuc at the Government Office in Hanoi on Tuesday, Han briefed the Government leader on his company’s business performance, the Government news website reports. Samsung Vietnam expects to fetch total revenue of US$60 billion this year, including more than US$50 billion from exports. Samsung Display Vietnam (SDV), a subsidiary of Samsung…... [read more]

  • When will Vietnam’s support industries flourish?

VietNamNet Bridge - PEGA, the owner of HKBike electric bicycle brand, announced that 35 percent of bicycle components are made in Vietnam by 30 Vietnamese companies, drawing public attention to the development of support industries. At the product launching ceremony held in late April, PEGA’s CEO affirmed that the company doesn’t intend to compete with foreign brands by reducing selling prices, but it controls the production cost by increasing the localization ratio of products. This is also the way for PEGA and other companies to generate jobs for Vietnamese, and to compete with foreign brands. Experts, while applauding PEGA, commented…... [read more]

  • Economists warn of Vietnam's growing trade deficit towards South Korea

The Republic of Korea has surpassed China, becoming Vietnam’s biggest import market. According to statistics recently released by the Ministry of Planning and Investment, in the first four months of this year, Vietnam’s trade deficit towards China totalled at $9 billion, while it was $9.3 billion towards Korea. Hence, the Republic of Korea (ROK) is the new champion trading partner of Vietnam, taking over China, despite the fact that the largest portion of Vietnamese imports is still sourced from the latter. Specifically, in the first four months of the year, Vietnam imported $17.6 billion worth of products from China, an…... [read more]

  • Misumi automates production

In recent years, automation has revolutionised the way products are manufactured and assembled, shifting the production paradigm to a more mechanical approach. General director of Misumi Vietnam Co. Ltd., Yasuo Shimokura, spoke with VIR’s Phuong Thu about industrial production trends and trade in Vietnam. As the leading manufacturer and distributor of standard components for factory automation, what is your company’s strategy in Vietnam? Misumi is a one-stop solution provider for various manufacturing needs. We are proud to be the leading manufacturer and distributor of standard components for factory automation, press dies, and plastic moulds. Furthermore, we have expanded our scope…... [read more]

  • Samsung contributes significant investment in Vietnam

The Hanoitimes - Foreign-invested enterprises, including Samsung Complex Vietnam (Samsung Vietnam) of the Republic of Korea (RoK), are an important component of Vietnam’s economy, Prime Minister Nguyen Xuan Phuc told Han Myoung-Sup, General Director of Samsung Vietnam at a meeting in Hanoi on May 16. PM Phuc highlighted Samsung’s significant contributions to Vietnam’s export turnover and job generation. Applauding Samsung’s investment expansion in the country, the leader suggested the group support Vietnam in training and technology transfer, thus enabling local support industry firms, especially small and medium-sized ones, to enhance links and join the supply of materials and components, tourism…... [read more]

  • Samsung contributes significantly to Việt Nam’s economy: PM Phúc

HÀ NỘI - Foreign-invested enterprises, including Samsung Complex Vietnam (Samsung Vietnam) of the Republic of Korea (RoK), are an important component of Việt Nam's economy, Prime Minister Nguyễn Xuân Phúc told Han Myoung-Sup, General Director of Samsung Vietnam at a meeting in Hà Nội yesterday. PM Phúc highlighted Samsung's significant contributions to Việt Nam's export turnover and job generation. Applauding Samsung's investment expansion in the country, the leader suggested the group support Việt Nam in training and technology transfer, thus enabling local support industry firms--especially small and medium-sized ones--to enhance links and join the supply of materials and components, tourism…... [read more]

  • Samsung contributes significantly to Vietnam’s economy: PM

PM Phuc highlighted Samsung’s significant contributions to Vietnam’s export turnover and job generation. Applauding Samsung’s investment expansion in the country, the leader suggested the group support Vietnam in training and technology transfer, thus enabling local support industry firms, especially small and medium-sized ones, to enhance links and join the supply of materials and components, tourism services and other services for Samsung. He asked the group to accelerate the implementation of the Samsung Research and Development (R&D) centre in line with pledged progress so as to help promote R&D activities in electricity and electronics in Vietnam. Vietnam will continue supporting Samsung’s…... [read more]

  • Economists warn of growing trade deficit towards South Korea

South Korea has surpassed China, becoming Vietnam’s biggest import market. Vietnam’s main imports from South Korea serve the purposes of manufacturing, processing products for exporting. Photo: manufacturing at Doosan Vina RELATED CONTENTS: Slipping deeper into the red According to statistics recently released by the Ministry of Planning and Investment, in the first four months of this year, Vietnam’s trade deficit towards China totalled at $9 billion, while it was $9.3 billion towards Korea. Hence, South Korea is the new champion trading partner of Vietnam, taking over China, despite the fact that the largest portion of Vietnamese imports is still sourced…... [read more]

  • Economists warn of growing trade deficit towards ROK

According to statistics recently released by the Ministry of Planning and Investment, in the first four months of this year, Vietnam’s trade deficit towards China totalled at $9 billion, while it was $9.3 billion towards Korea. Hence, the Republic of Korea (ROK) is the new champion trading partner of Vietnam, taking over China, despite the fact that the largest portion of Vietnamese imports is still sourced from the latter. Specifically, in the first four months of the year, Vietnam imported $17.6 billion worth of products from China, an increase of 19.4 per cent, while the import turnover from ROK was…... [read more]



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