Mekong delta promotes Agritourism with farmer participation The travel industry in the Mekong delta has lately taken off with more holiday-makers, increased revenue and more farmer participation. Dong Thap province at the heart of the Mekong Delta is one of provinces with most farmer participating in agri-tourism. Nguyen Be Tu, owner of Tu ca Linh a 3-hectare agritourism farm in Tam Nong District said in these days, many holiday-makers phoned to experience flood season in Dong Thap Muoi when they can enjoy fishing linh fish and other species of animals. Before, Tu family just work on paddy fields and lotus field. After he was sent to visit agritourism farm models in other places, he decided to invest in 3 hectare lotus field into homestay tourism farm. Visitors can live in thatched houses next to lotus fields to breath fresh air and enjoy nature and landscape. Visitors can drain ditches for fish, pick up vegetables and live with kind inhabitants. Owner Tu engaged in agritourism for … [Read more...] about BUSINESS NEWS IN BRIEF 14/10
Global supply chain definition
After 30 years, FDI still pays dividends for VN
It has been 30 years since Viet Nam promulgated the Law on Foreign Investment on December 29, 1987. This was an important milestone that made it possible for Viet Nam to open up its economy and integrate with the world. Many global leading companies have entered Viet Nam, such as Coca-cola, Intel, Canon, Samsung, Toyota, FedEx and others. More importantly, most of these corporations are looking to expand business here in the long run. A World Bank expert and representatives from foreign direct investment (FDI) enterprises, including Coca-cola and Canon, have made comments on the country’s 30 years of progress in attracting FDI Sebastian Eckardt, World Bank Sebastian Eckardt, World Bank’s Lead Economist for Viet Nam Viet Nam has been quite successful in attracting FDI ever since the country opened up to foreign investment. If we look at the impact, we can say that FDI has really contributed in various ways, including industrialisation, where a lot of investment went into … [Read more...] about After 30 years, FDI still pays dividends for VN
Changes needed in FDI attraction orientations in 4.0 era
Vietnam has undergone profound changes since opening its doors to foreign direct investment (FDI). Deputy Minister of Planning and Investment Vu Dai Thang shares his views about the role of FDI in Vietnam’s development, while stressing the need for changes in the country’s FDI attraction strategy in the 4.0 era. Deputy Minister Vu Dai Thang The national conference to summarise 30 years of foreign direct investment attraction will take place on October 4. How would you assess the role of FDI in national development during the past three decades? FDI in Vietnam has been robust since the Law on Foreign Investment came into force in 1987. Over the years, this capital flow has become an integral part of the Vietnamese economy. As of now, Vietnam has courted more than $320 billion in total FDI, more than $180 billion of which has been disbursed, making practical contributions to the national socioeconomic development cause. The effects of FDI could be felt far and wide … [Read more...] about Changes needed in FDI attraction orientations in 4.0 era
ABB powers Industry 4.0 ambitions
The so-called Fourth Industrial Revolution includes various themes and opportunities, but there is little clarity as to what it actually entails. What would be your general definition for this revolution? Every industrial revolution has driven new economic possibilities and the Fourth Industrial Revolution, or Industry 4.0, is no different, as it brings profound and positive change. It builds on previous revolutions, which began in the 18th century with the invention of the steam engine. The Second Industrial Revolution used electricity to create mass production, and the Third used electronics and information technology to automate production. The main differences between previous revolutions and the Fourth is the pace of change – breakthroughs are happening at a rate unprecedented in history – and the scale of disruption. Today, every industry is being transformed at an accelerating speed. Being digitally enabled, that is having your machines, robots, and systems feeding … [Read more...] about ABB powers Industry 4.0 ambitions
FDI – a successful part in Vietnam’s economic development: WB economist
Lead Economist for World Bank in Vietnam Sebastian Eckardt (Photo: VNA) Hanoi (VNA) – Since the Law on Foreign Investment was passed in 1987, Vietnam has been successful in attracting FDI, and the investment inflows have contributed greatly to Vietnam’s economic development, according to the Lead Economist for World Bank in Vietnam Sebastian Eckardt. Question: Please kindly assess the general impacts of FDI inflows towards Vietnamese economy in the last 30 years. Answer: So Vietnam has been quite successful in attracting FDI ever since the country opened up to foreign investment and if we look at the impact, we can say that FDI has really contributed in various ways, including industrialization, where a lot of investment went into manufacturing sector, building capacity across a range of sectors including electronics but also more traditional industries such as garment and shoe factory, and so on, really fueling Vietnam strong export performance and … [Read more...] about FDI – a successful part in Vietnam’s economic development: WB economist
China’s ZTE signed preliminary agreement to lift U.S. ban
China's ZTE signed preliminary agreement to lift U.S. ban The logo of ZTE Corp is seen on its building in Beijing, China April 19, 2018 – PHOTO: REUTERS BEIJING (REUTERS) - ZTE Corp has signed an agreement in principle that would lift a U.S. Commerce Department ban on buying from U.S. suppliers, allowing China's No. 2 telecommunications equipment maker to get back into business, according to sources familiar with the matter. ZTE ceased major operations since the seven-year ban was imposed on the company in April for breaking a 2017 agreement reached after it was caught illegally shipping goods to Iran and North Korea. A Commerce Department spokesman said on Tuesday that "no definitive agreement has been signed by both parties." ZTE did not immediately respond to requests for comment. The preliminary deal includes a US$1 billion fine against ZTE plus US$400 million in escrow to cover any future violations, sources said, adding that the terms were in line with Reuters … [Read more...] about China’s ZTE signed preliminary agreement to lift U.S. ban
China’s ZTE signed preliminary agreement to lift US ban: sources
ZTE Corp has signed an agreement in principle that would lift a U.S. Commerce Department ban on buying from U.S. suppliers, allowing China’s No. 2 telecommunications equipment maker to get back into business, according to sources familiar with the matter. ZTE ceased major operations since the seven-year ban was imposed on the company in April for breaking a 2017 agreement reached after it was caught illegally shipping goods to Iran and North Korea. A Commerce Department spokesman said on Tuesday that “no definitive agreement has been signed by both parties.” ZTE did not immediately respond to requests for comment. The preliminary deal includes a $1 billion fine against ZTE plus $400 million in escrow to cover any future violations, sources said, adding that the terms were in line with Reuters reporting on the U.S. demands on Friday. The sources requested anonymity because they were not authorized to publicly discuss the matter. The Commerce Department plans to … [Read more...] about China’s ZTE signed preliminary agreement to lift US ban: sources
How best to maintain brand value?
Companies in Vietnam have experienced fierce competition over the last few years, both qualitative and quantitative. Many have been forced to close down while others are still in business but struggling to move forward. The question is how to make a brand not only sustainable but also grow in value in the context of fierce global competition and rapid digitalization. There are many approaches to answering this question. Here I note the three key driving forces for brands: digital transformation, globalization, and brand leadership. In my observation, these forces help grow a company’s brand value if implemented successfully. Customer-centric digital transformation Unlike in the past, customers now have many brand choices for a particular product in Vietnam. Let’s take bakery goods for example. Customers would have previously mentioned Kinh Do in the south or Hai Ha in the north, but today they may name a long list of bakery brands: Top Cake, Tous Les Jours, ABC, … [Read more...] about How best to maintain brand value?
Foreign banks try new local tactics
Despite the shifts in mission among these lenders, their long-term commitments remain unchanged, continuing their strategy of growing with the local economy.In September, Singapore’s United Overseas Bank was given full licence to operate as the ninth wholly foreign-owned bank in Vietnam, and is now able to cater to the financial needs of Singaporean investors in the country, as well as help boost economic trade between the two nations.That could be the selling point of the Southeast Asian lender over the course of the year. For its Australian counterparts, such as Australia and New Zealand Bank (ANZ) or Commonwealth Bank of Australia (CBA), downsizing their business operations – namely the former’s retail arm and the latter’s Ho Chi Minh City branch – may not prove as easy as it sounds. An insider account2018 marks the 25th local anniversary of ANZ, which is based out of Melbourne. 2017, meanwhile, constituted a landmark year, as the lender recently … [Read more...] about Foreign banks try new local tactics
BUSINESS IN BRIEF 22/12
Dong Nai attracts $1.3 billion FDI in 2017The southern province of Dong Nai attracted over US$1.3 billion in foreign direct investment (FDI) in 2017, $300 million higher than the set target.According to the provincial industrial zones’ management board, it has attracted 1,733 FDI projects, so far, with total investment of $31.3 billion. Investors from 45 countries and territories have invested in the locality.South Korea is the largest foreign investor in the province, following by Taiwan (China) and Japan.The board said despite laying down stricter conditions for investment projects, FDI capital that poured into the province still increased this year. In particular, disbursement reached $1.1 billion, equivalent to 88 per cent of the total registered capital.In recent years, Dong Nai has given priority to FDI projects using hi-tech, skilled labourers and are environment-friendly.Mai Van Nhon, deputy head of the board, said investors believed in the province’s support for … [Read more...] about BUSINESS IN BRIEF 22/12