In the last decade .their investments in Vietnam swelled by an average of 13 percent a year. By the end of last year their total investment was only around $13 billion, not enough to put Thailand in the top five list, but still managed to have large market shares in several sectors by concentrating their investment in a handful of sectors. In the retail sector, some leading supermarket chains are controlled by two Thai companies, Central Group and TCC Group. Central Group, Thailand’s leading retailer, which belongs to the Chirathivat family, started off in Vietnam as a fashion merchandiser in 2012, distributing products from brands such as SuperSports, Crocs and New Balance. In 2015, it acquired a 49 percent stake in electronics retailer Nguyen Kim through its subsidiary Power Buy. In the same year, it bought out supermarket chain Lan Chi, which operates mainly in northern rural areas. In 2016, it bought supermarket chain Big C Vietnam from France's Casino Group for over $1 … [Read more...] about Which sectors in Vietnam are dominated by Thai companies?
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The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) jumps 37 spots to enter the Brand Finance’s top 250 in rankings of the world’s most valuable banks in 2021. (Photo: VNA) Hanoi (VNA) – The Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) has jumped 37 spots to enter the Brand Finance’s top 250 in rankings of the world’s most valuable banks in 2021. According to the Brand Finance Banking 500 2021 ranking , VPBank ranked 243rd in banking brand value this year. Its brand value grew 41 percent to 502 million USD this year from 354 million USD in 2019. It also represents a nine-fold increase against 2016 when the bank’s brand value was first evaluated at 56 million USD. The 2021 ranking was calculated based on a brand’s market share, growth rate, property size, financial capacity, operating efficiency and prestige, said Lai Tien Manh from Brand Finance Vietnam. In the face of COVID-19 that has taken a heavy toll on the global financial system, … [Read more...] about VPBank breaks into Brand Finance’s top 250 value banks in 2021
The MoIT’s Import and Export Department cited statistics released by the International Trade Center (ITC) which indicate that Poland's coffee imports throughout the 2015 to 2019 period grew by an average of 6.5% annually, from 141,144 tonnes in 2015 to a total of 181,086 tonnes in 2019. During the nine-month period, the Eastern European country’s coffee imports reached 136,300 tonnes with a value of US$448.71 million, showing an increase of 2.7% in volume and 6.7% in value from the same period in 2019. Most notably, the average import price of coffee within the Polish market witnessed a surge of 3.9% to US$3,291 per tonne compared to last year’s corresponding period. Throughout the reviewed period, Poland increased its coffee imports from the majority of its regular markets, although imports from both Germany and Uganda declined. The figures indicate that the Eastern European nation increased coffee imports from Vietnam by 30.6% in volume and 27.1% in value, with the Vietnamese … [Read more...] about Poland increases imports of Vietnamese coffee
Statistics compiled by the General Department of Vietnam Customs indicate that Vietnam exported 1.57 million tonnes of coffee worth US$2.74 billion last year, representing a decrease of 5.6% in volume and 4.2% in value, while the average export price saw a slight increase of 1.4% to US$1,751.2 per tonne compared to 2019. Germany remains the largest consumer of Vietnamese coffee, importing 223,581 tonnes worth US$350.41 million, marking a decline of over 4% in both volume and turnover. Meanwhile, the average export price in the market stood at US$1,567 per tonne, a rise of 0.4%. The Southeast Asian market ranked second in terms of turnover with US$328.36 million, a drop of 8.6% in turnover, followed by the United States’ market with US$254.89 million. The MARD anticipates that there are positive signs moving forward for coffee exports as Vietnam’s coffee export markets suffered huge losses due to the COVID-19 pandemic leading to an increase in domestic demand for coffee. Despite … [Read more...] about Coffee sector to boost exports on EVFTA incentives
Myanmar refugees seized in Kangar, Malaysia in March 2019 (Photo: VNA) Kuala Lumpur (VNA) – A Malaysian court has allowed a temporary stay of deportation of 1,200 Myanmar nationals who were scheduled to be sent back homeland on February 23, according to an insider. The stay was granted until 10am on February 24, when the court will hear the groups’ application for judicial review to suspend the deportation, said New Sin Yew , a lawyer for Amnesty International and Asylum Access. The 1,200 detainees, including asylum seekers and children, were scheduled to leave on February 23 afternoon in three navy ships sent by Myanmar’s military. The court issued the temporary halt due to current political tension in their homeland. Myanmar nationals constitute the biggest population of emigrants in Malaysia./. VNA … [Read more...] about Malaysian court temporarily halts deportation of 1,200 Myanmar nationals