Corporate News

The signing ceremony marking the first overseas project of Lilama that covers a complete course of material, equipment and human resources supply. — VNA/VNS Photo Viet Nam’s Lilama Corporation has signed a contract to manufacture and install mechanical equipment for a fertiliser plant in Brunei. The signing marked the first overseas project of Lilama that covers a complete course of material, equipment and human resources supply. The 23-hectare A/U fertiliser plant is located at the Sungai Liang Industrial Park, 100 km away from Bandar Seri Begawan, the capital of Brunei. Under the freshly signed contract, Lilama will carry out about 80 per cent of the plant’s mechanical workload, which might increase during its working course of 23 months starting December this year. Director General of Lilama Corporation Le Van Tuan said the project has strict requirements on quality, progress, and labour safety. He revealed that during intensive periods of the project, Lilama … [Read more...] about Lilama secures mechanical installation deal in Brunei

Lazada launches the Lazada Seller Club. – VNS Photo Online shopping platform Lazada.vn has launched the Lazada Seller Club as a large-scale connectivity platform to support sellers and efficiently develop the online business. Tran Xuan Thuy, seller management and development director of Lazada Vietnam, said: "With the rapid growth in e-commerce, the number of e-sellers on Lazada is also growing non-stop. This speed is also a challenge for Lazada to balance between quality and quantity, to ensure that all sellers are equipped with the best skills, are supported and listened to throughout sales terms. That is why Lazada Seller Club was born." Sellers joining the club will benefit from free up-to-date information about e-commerce trends and gain from other members’ experience in doing e-commerce and their support. An experienced member on Lazada has been voted to lead the club in each city. Launched in 2012, Lazada is the largest online shopping site in Southeast Asia with … [Read more...] about Lazada launches club for sellers in Viet Nam

From now until September 4 Sheraton Grand Đà Nẵng Resort offers a family package of two nights’ stay in deluxe connecting rooms, including a free room for kids. — Photo courtesy of Sheraton Sheraton Grand Da Nang Resort is offering a family package of two nights’ stay in deluxe connecting rooms, including a free room for kids, starting at VND6.8 million ++ (US$295) per night. From now until September 4 customers booking this package can eat daily breakfast (maximum two parents and two children) at Table 88 Restaurant, get a round trip to the UNESCO world heritage site of Hoi An, kayak for one hour, check out until 3pm, get free wi-fi, complimentary daily ice cream for the kids and welcome drinks. The free room is offered only to children aged under 12 subject to availability. Children will also be offered daily access to the Kid’s Club and free meals from the kid’s menu when dining with their parents. This exciting package is available for … [Read more...] about Sheraton Grand Da Nang Resort offers exciting family package

Nestlé has launched its first Maggi fish sauce products in Viet Nam. It is also its first ever entry into the global fish sauce market. — VNS Photo Nestlé Vietnam has entered the fish sauce market by launching its first Maggi fish sauce products. The company said the sauces are made from natural ingredients like Phu Quoc black anchovy essence and Ba Ria sea salt and are free of preservatives. According to a study by Kantar World panel, 97 per cent of Vietnamese families in urban areas use fish sauce in their meals and per capita consumption is around 11 litres a year. The market is worth over VND8 trillion (US$347.8 million) a year, with 500 million litres consumed, making it large and lucrative enough for the company to enter, Nguyen Thi Minh Nguyet, food division director at Nestlé Vietnam, said. The products come in two options, one designed for southern consumers and the other for northern consumers. Maggi has been well-known to Vietnamese consumers since … [Read more...] about Nestlé enters fish sauce market for 1st time

The first Vietnamese experts graduated from the supporting industry consultant training course programme. — VNS Photo Vu Hoa Samsung Electronics Viet Nam (SEV) aims to increase the number of Vietnamese enterprises serving as tier-1 vendors from the current 29 to 35 by the end of this year, 42 in 2019 and 50 in 2020. SEV increased the localisation rate of its products in Viet Nam from 35 per cent in 2014 to 58 per cent at present. In order to reach the target, SEV in co-operation with the Ministry of Industry and Trade in March launched a supporting industry consultant training course programme to train 200 Vietnamese experts. The consultants can help Vietnamese firms become Samsung’s vendors as well as further participate in the global value chain. After graduating, the 200 experts trained under the programme will be sent to work for Vietnamese firms across the country. SEV and the ministry yesterday organised the closing ceremony for the first 25 Vietnamese officers in Ha … [Read more...] about Samsung VN aims to increase local tier-1 vendors

Clients study Liberty Insurance’s products. — VNS Photo Liberty Insurance has been named among the top 10 non-life insurers in Viet Nam for 2018. It is also the only limited liability company and the first 100 per cent foreign direct investment company to be ranked in this list, according to independent research compiled by Vietnam Report. Insurance firms were selected based on financial capacity, media credibility and client satisfaction. “Vietnam Report’s research shows the new trends in the insurance industry; technology, product development and networks. This aligns perfectly with the strategic vision Liberty has been developing to optimise product and service experience for our customers," the company said in a statement. Liberty Insurance is a member of Liberty Mutual Insurance, a Boston-based diversified global insurer established in 1912. As of December 31, 2017, Liberty Mutual Insurance had US$125.6 billion in consolidated assets and $38.3 billion in … [Read more...] about Liberty Insurance ranks in top 10 best non-life insurance companies in 2018

An outlet of The Coffee House. The company plans to open 100 more cafes in the next 18 months. — VNS Photo The Coffee House has announced plans to double its number of cafes to 200 in the next coming 18 months. CEO Nguyen Hai Ninh said to achieve the goal the company would invest in improving services and developing human resources. The Coffee House is one of the few food and beverage companies to have their own delivery service, he said. Since the service was launched last year it promises delivery to customers within 30 minutes. An unavoidable trend in the food and beverage industry, the service would be expanded further, Ninh said. The company would also expand its Ren’s Tea bubble tea stores. The Coffee House, launched in August 2014, has outlets in HCM City, Ha Noi, Da Nang, Dong Nai, Hai Phong, and Vung Tau and serves some 60,000 customers daily. Last February it acquired Cau Dat Farm, which grows and processes coffee. Last year it became a franchisee for … [Read more...] about The Coffee House to double number of cafes

Representatives of Chubb Life Insurance and Viet A Bank sign a bancassurance agreement in HCM City yesterday. — VNS Photo Chubb Life Insurance and Viet A Joint Stock Commercial Bank have entered into a bancassurance partnership, with the latter distributing Chubb’s life insurance products exclusively for 10 years. Lam Hai Tuan, chairman and country president of the Swiss insurance company, said: “One of Chubb Life’s objectives is to expand and diversify our distribution network to better serve our customers with life insurance solutions. The Vietnamese market has witnessed a rapid growth of bancassurance in recent years, which opened up many opportunities for insurers and banks to bring more benefits to consumers.” Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, it provides commercial and personal property and casualty insurance, personal accident and supplemental … [Read more...] about Chubb Life signs bancassurance deal with VietABank

A school built by Cargill Cares Council in Quang Tri Province’s Huong Hoa District. Cargill Cares Council Viet Nam has raised over VND6 billion for community projects since June last year. — Photo khoahocphothong.com.vn Cargill Cares Council, Cargill Incorporated’s international charity fund raiser, has mobilised over VND6 billion (US$261,300) for community projects in Viet Nam’s poor rural areas since June last year. Since its establishment in 1997, the employee-led Cargill Cares Council has raised over VND120 billion in Viet Nam and built around 87 schools in 47 provinces and carried out other community projects such as digging wells to supply clean water. It recently built two schools in Quang Tri and Nam Dinh provinces and plans to build another in Quang Tri in August. Stoney Su, chief representative of Cargill Viet Nam, said the school building programme is “now providing quality education to about 14,000 students a year.” Cargill Cares … [Read more...] about Cargill charity raises over VND6 billion

Home Credit employee introduces its products to a customer. — VNS Photo Fitch Ratings has assigned Home Credit Vietnam Company Limited a long-term issuer default rating of ’B+’ and a short-term rating of ’B’. The assignment shows a stable outlook for the company. Home Credit’s ratings are based on Fitch’s assessment of its standalone credit profile and reflect its financial performance and position in a growing market that is more prone to business and economic volatility. In May the company was assigned a B3, or stable, credit rating by Moody’s. It is the first non-banking financial institution (NBFI) in Viet Nam that Fitch and Moody’s have rated and the first in the country to get international credit ratings. Home Credit is a consumer credit company that has been operating in Viet Nam since 2008. It is headquartered in HCM City and has branches in Ha Noi and nine representative offices in other provinces and cities. — VNS … [Read more...] about Fitch assigns stable rating to Home Credit Vietnam