Vietnamese coffee is expected to be a key export product which will achieve the highest export turnover for Vietnam as a whole.However, there still remain challenges such as the tough competition in the world market, and the overstretch of cultivated areas.A VOV reporter interviewed Nguyen Van An, President of the Thai Hoa Corporation, about the challenges facing Vietnam’s coffee sector.VOV: What is the current situation of the domestic coffee market?Mr. An: Coffee is transacted at a very high price of VND42-46 million per tonne. So, businesses find it difficult to buy coffee from farmers because many of them are stockpiling coffee in the hope of selling at higher prices.VOV: Vietnam’s Robusta coffee is said to fetch a rather high price this year. What’s your opinion about that?Mr. An: In London and New York markets, Vietnam’s Robusta coffee is sold at US$2,250 per tonne, much cheaper than Arabica coffee, which is transacted at US$5,600 per tonne. The … [Read more...] about How to come up smelling of coffee
Import export how to start a business
VCCI in conjunction with Institutional Investor will organize the Vietnam Investment Forum in New York on September 25, 2009 on the occasion of President Nguyen Minh Triet’s visit to the United States. A Vietnam Business Forum reporter interviewed VCCI President Vu Tien Loc on the cooperation between Vietnamese and American businesses, especially VCCI activities in promoting economic and trade relations between the two countries in the coming years. Please, tell us about the cooperation in investment, trade and business activities between Vietnam and the US in recent years? Since the establishment of official diplomatic relations between Vietnam and the US on July 12, 1995, the bilateral relations have been increasingly enhanced and developed. The two sides have exchanged high ranking delegations and signed several economic agreements such as copyrights relations; bilateral trade agreements; science and technology cooperation; apparel, airlines, economic and technology … [Read more...] about Another Channel for Vietnam-US Businesses
Up to 97.6 per cent of active enterprises in Vietnam are small and medium enterprises (SMEs). The SME sector plays an important role in economic development of any locality or nation. However, Vietnamese SMEs find it harder to develop largely because they face more difficulty in expanding production and business operations. SMEs face numerous difficulties The survey of the provincial competitiveness index (PCI) 2015 announced recently by the Vietnam Chamber of Commerce and Industry (VCCI) showed that the business environment in Vietnam improved. According to the report, most SMEs are established by families. Many have grown up from initial household production and many business individuals form a corporate entity when they find the opportunity. Up to 77 per cent are micro-enterprises and 69 per cent of small enterprises grow up from business households. In general, education qualifications of SME owners are relatively high and diverse. A majority (nearly 60 per cent) … [Read more...] about SMEs: How to Grow?
The world coffee consumption demand in the coming years is predicted to increase by 2 million bags a year. The world demand is estimated to reach 140 million bags by 2018. Can the coffee industry of Vietnam make use of this gold opportunity?According to the Vietnam Coffee and Cocoa Association, if the coffee industry has good capital investment to improve the added value of Vietnam’s coffee, it is completely feasible to obtain the export turnover of more than US$2 billion a year. At present, Vietnam has 500,000 hectares of coffee, only ranked behind Brazil in terms of exported coffee quantity. Vietnam’s coffee has been introduced to nearly 80 countries and territories with the output of around 1 million tonnes a year (in 2007, the amount of coffee exported from Vietnam exceeded 1 million tonnes). The coffee exporting market is judged to be basically stable. Germany continues to be the number-one customer of Vietnam’s coffee, followed by the United States, Spain, and … [Read more...] about How to Improve Competitiveness of Vietnam Coffee?
A Vietnamese supermarket in Poland The forum set its agenda over the alliance among Vietnamese enterprises in the context when Eastern Europe is gradually merged into EU and Schengen Treaty for easier trade between the East and West of Europe. Through the forum, the enterprises could exchange their experience in order to optimize cost, ensure fundamental rights, and assist Vietnamese community in the era of EU and global integration. In addition, they also shared valuable knowledge to penetrate into the European capital markets, have an insight in the EU’s import procedures, and know how to start doing business. Some enterprises brought to the forum their ongoing or possible projects in Europe and Việt Nam . Addressing the Forum, Deputy Minister of Industry and Trade Lê Danh Vĩnh briefed Việt Nam’s current economic situations as well as its close ties with the EU. He highly appreciated the efforts made by the Vietnamese … [Read more...] about Overseas Vietnamese hold 3rd business forum
ĐÀ NẴNG — Việt Nam has been an open trade hub in the past and is striving hard now to become a trustworthy and potential trade partner in the world business community, Prime Minister Nguyễn Xuân Phúc said on Tuesday. Addressing more than 2,000 delegates attending the first-ever Việt Nam Business Summit (VBS), he affirmed Việt Nam’s determination to build a growth-enabling and action-oriented Government to serve people and enterprises, to strengthen international integration, maintain macro-economic stability, and reform institutions and legal policies. Themed “Việt Nam: We Mean Business”, the VBS is an initiative of the Việt Nam Chamber of Commerce and Industry (VCCI) that aims to help the country make optimal use of investment promotion opportunities. Reviewing Việt Nam’s socio-economic achievement, the Prime Minister noted that a GDP growth rate of 6.7 per cent was expected this year. … [Read more...] about We seek to become a trustworthy trade partner: PM
The Southeast Asian entrepots and finance centers topped the surveyfor the eighth straight year, with New Zealand, the United States andDenmark rounding out the top five, as a year ago. The lower ranks of the 189-country list was populated with Africancountries like Chad, the Central African Republic and Libya holding. But a rising African country, Rwanda, took honors as the mostimproved since 2005, praised for its efforts to boost propertyregistration and for simplifying trading and tax procedures. China, which was furious to receive a ranking of 91 last year and haspressured the World Bank to drop the 11-year-old study, fell fivenotches this year to 96th place and was leapfrogged by Russia. The "Doing Business 2014" report said many countries are making iteasier for people to start and run a local business, with low-incomeeconomies moving more quickly than larger ones to improve. "Regulation is a reality from the … [Read more...] about World Bank: Singapore, Hong Kong best for business
The semiconductor industry is a growing sector in Viet Nam and has attracted many foreign investors. Viet Nam News reporter Thu Ngân talks with Ng Kai Fai, president of SEMI Southeast Asia, about the industry and the upcoming 2017 SEMICON Southeast Asia Penang, Malaysia.How do you see the potential of the Vietnamese semi-conductor industry?A lot of people are talking about the potential of the country’s electronics industry, including semiconductors.In think for the next five years everybody is projecting a compounded annual growth rate of almost 15-16 per cent. That is pretty significant. I think there is a lot of potential in Viet Nam in the electronics supply chain. Viet Nam’s electronic exports are almost 30 per cent of its total exports. That is huge.The foreign direct investment inflow into electronics is significant as well.I think for the next phase of Viet Nam’s growth, there is a need to nurture and enhance the talent and capabilities of local … [Read more...] about Semi-conductor expo to reap a growth of 15 per cent
The State Bank of Viet Nam has said no to the Viet Nam Gold Trading Association (VGTA)'s proposal to mobilise privately owned gold.An anonymous SBV official told Saigon Times Daily that it would be very risky in terms of the price movements it might cause, claiming there has been no precedent by any government in the world in this regard.One of the VGTA's most important suggestions was that the central bank and Ministry of Finance should soon set up a national transaction floor for physical gold.Since the Government issued Decree 24 on management of gold trading in 2012, which enables the central bank to directly intervene in the local gold market, the market has become very stable while the number of gold traders decreased sharply from 12,000 units then to 38 now.Under the decree, bullion trading is only permitted by gold firms and credit institutions licensed by the central bank.To be licensed, however, a firm must have chartered capital of at least VND100 billion (US$4.8 million), … [Read more...] about How to mobilise public gold for development?
Shifting from debt in 2012, Thang Long Cement JSC produced 2.48 million tonnes of cement and clinker last year to post a year-on-year growth before interest and taxes of estimated 30 per cent. The company has set a goal of becoming a leading cement group in Viet Nam by 2030. Viet Nam News spoke to Mukhamad Saifudin, general director of Thang Long Cement JSC, about this target.Positive signs were seen last year in the domestic economy and real estate market. How have they influenced your company's performance?In 2014, in line with macroeconomic stability and policy improvements, the domestic cement market showed better signs than the year before. One encouraging sign was that the domestic cement demand increased by about 10 per cent compared with 2013, according to the Viet Nam Cement Association (VNCA). It means the cement industry saw positive growth last year.Despite positive growth in 2014, cement manufactures in Viet Nam still had a lot of excess capacities. For our company, we had … [Read more...] about Thang Long Cement strives to become a sector leader