Samsung concludes third training course for Vietnamese consultants Samsung Vietnam and the Ministry of Industry and Trade (MoIT) rounded off its third training course for Vietnamese consultants in the supporting industry with a ceremony in Ho Chi Minh City on October 19. Speaking at the ceremony, Truong Thanh Hoai, Director of the MoIT’s Heavy Industries Department, pointed out some of the industry’s weak points in terms of competitiveness and spare parts materials, attributing them to the limited management and investment capacity of local companies. He said the Government and other relevant ministries have issued many policies to support the growth of the sector, adding that Samsung’s courses are an important part of such efforts. Eight courses of this kind are scheduled to take place in 2018 and 2019, each lasting for three months, aiming to train 200 consultants in total. They are part of a memorandum of understanding (MoU) between the MoIT and Samsung … [Read more...] about BUSINESS NEWS IN BRIEF 21/10
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Malaysia’s Parkson shuts down fourth mall in Vietnam
Parkson Holdings, a Malaysian department store operator with outlets across Asia, has closed another store in Ho Chi Minh City due to a business downturn. Parkson Flemington was opened in 2009 in HCMC’s District 11, but is now the fourth Parkson center in Vietnam to close. In an announcement posted on its website, Parkson said the closing of Parkson Flemmington “will not affect the business of other department stores under the Parkson brand in Vietnam, and the privileges and benefits for Parkson membership card holders will still be preserved and applicable at all Parkson stores.” Parkson entered Vietnam in 2005 and opened eight stores in Hanoi and HCMC. The remaining outlets are all in the southern metropolis. The company suffered more than VND60 billion ($2.6 million) losses from its business in Vietnam last year, according to media reports. Aside from fierce competition on the local market, the rapid development of e-commerce is possibly another reason for the … [Read more...] about Malaysia’s Parkson shuts down fourth mall in Vietnam
Parkson closes fourth outlet in Vietnam
Malaysian department store operator Parkson has closed another outlet in Ho Chi Minh City, making a total of four closed locations in Vietnam. Parkson Flemington, located in District 11, ceased service in late January, Thuy Duong Co., which operates the brand in Vietnam, said in an announcement on Monday. All business partners at the outlet had been notified of, and agreed upon, the shutdown, according to Thuy Duong Co. The company asserted that its business remains normal at the six remaining Parkson stores in Vietnam, where customers can still enjoy benefits from their membership. In January 2015, the Malaysian chain closed its first Vietnam location, Hanoi-based Parkson Keangnam. This was followed by the shutdowns of Ho Chi Minh City’s Parkson Paragon in May 2016, and Parkson Thai Ha in Hanoi in December the same year. People move furniture out of the Parkson Flemington department store in Ho Chi Minh City on February 26, 2018. Photo: Tuoi Tre According … [Read more...] about Parkson closes fourth outlet in Vietnam