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
Global supply chain definition
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