Jointly held by the Vietnam Textile and Apparel Association (VITAS) and the IEC Group of Australia, the event focused on measures to help Vietnamese textiles and garment enterprises increase exports to Australia. At the workshop. Photo: kinhtevadubao.vn According to Nguyen Phuc Nam, Deputy Director of the Department of Asia-Pacific Market under the Ministry of Industry and Trade, Australia is a potential market for Vietnamese textiles and garment exporters, while the market share of Vietnamese products in this market remains small. Truong Van Cam, Vice Chairman and Secretary General of VITAS, said that the current growth of textiles and garment exports to Australia is just below 10 percent, but with the signing of the CPTPP, the rate is expected to reach a double-digit growth. Reports delivered at the workshop showed that total textiles and garment import turnover of the CPTPP member countries exceeded 53 billion USD in 2017, of which Australia was the third biggest … [Read more...] about CPTPP likely to lift Vietnam’s garment exports to Australia
The Vietnam Trade Promotion Agency (VTPA) under the Ministry of Industry and Trade introduced the event during a press conference in Ho Chi Minh City on April 13th.Processing farm produce for exports (Photo: VNA)VTPA Director Vu Ba Phu said the expo will create an excellent opportunity for Vietnamese businesses to make inroads into the market, helping narrow the trade gap with China, as well as expand cooperation with Chinese partners and hundreds of other participating economies.To boost exports to China, businesses need to increase the quality of products, build brand names, and improve packaging and designing. At the same time, they need to update information about the market, import-export policies, and customers’ demand in different Chinese localities.More than 100 countries are expected to join the CIIE 2018 with over 150,000 customers in and outside China. The business exhibition area of the expo will cover 210,000 square meters, consisting of two sections: goods and … [Read more...] about Vietnam to attend China International Import Exposition
Hanoi (VNA) – The Government of Vietnam is committed to implementing initiatives of the Greater Mekong Sub-region (GMS), including those on high-tech organic agriculture, said Prime Minister Nguyen Xuan Phuc. Prime Minister Nguyen Xuan Phuc addresses the plenary meeting of the GMS Business Summit in Hanoi (Photo: VNA) Addressing the plenary meeting of the GMS Business Summit in Hanoi on March 30, Prime Minister Phuc also pledged to create a favourable environment and put in place preferential regulations for investment in advanced technology, supporting industries and hi-tech organic agriculture. Taking advantage of Industry 4.0 Science-technology is a path to green and high-value agricultural development, Vietnamese Minister of Agriculture and Rural Development Nguyen Xuan Cuong said in his speech at an agricultural session in the framework of the GMS Business Summit. The fourth industrial revolution (Industry 4.0) presents an opportunity for … [Read more...] about Vietnam commits to realising GMS high-tech agriculture priority
Washington and Beijing are going toe-to-toe in a trade spat, and Vietnam is set to become embroiled in the conflict, for better or for worse. The row is likely to deal a blow to export-reliant Vietnam, as its overseas shipments form part of China’s value chain. “If the U.S imposes high tariffs on China’s broader cross-border supply chain, Vietnam, which exports goods that serve as inputs for China’s exports, will be badly hit,” said economist Le Dang Doanh. It’s unclear whether Washington will tax Chinese firms alone or their wider supply networks. About 2.2 percent of Vietnam’ shipments abroad are part of China’s value chain, Bloomberg quoted date from RHB Bank Bhd as saying. Sharing the same opinion, Steven Schwartz, senior director of sovereign ratings for Asia at Fitch Ratings, said South Korea, Taiwan, Vietnam and Malaysia, all of which export goods – such as machine parts and components for communications equipment … [Read more...] about What does Vietnam have to lose or gain from US-China trade war?
The 2018 Summit of Amazon Website Services (AWS), the world’s most comprehensive and broadly adopted cloud platform, opened in Singapore yesterday, attracting hundreds of customers and partners, including interested Vietnamese businesses. The 2018 AWS Summit attracted hundreds of partners and customers On the occasion, FPT Vietnam was recognised as the first ASEAN-based premier partner for its key role in helping customers drive innovation and build solutions on the AWS Cloud. “With the award, FPT Software and AWS will enter deeper relations, enabling us to approach more influential groups as well as important projects globally, thus contributing to reaching our $1-billion revenue target by 2020,” Nguyen Thi Dan Phuong, chief marketing officer of FPT Software, told VIR. FPT’s major markets are Vietnam, Japan, Australia, Singapore, Malaysia, and Indonesia. Also, during the annual AWS Partner Summit and on the eve of the AWS ASEAN Summit, the AWS Partner … [Read more...] about FPT Vietnam recognised as first premier partner of AWS in ASEAN
VietNamNet Bridge - Vietnam has one of the highest proportions of import/export turnover to GDP in the region, over 180 percent. The growth of import/export turnover is considered an important target Analysts and policymakers point to the close relations between foreign trade and economic growth, saying that the growth of import/export turnover is considered one of the most important targets by the National Assembly. Vietnam’s proportion of import/export turnover to GDP is higher than the 120 percent of Thailand and Malaysia, and higher than the 40 percent of China, which has been the fastest growing economy in the world in the last four decades. Pham Van Dai, an analyst, in his article in Thoi Bao Kinh Te Sai Gon, pointed out that Vietnam is an outsourcing economy with limited domestic input materials (mostly natural resources such as land, water sources, minerals and cheap labor force). RELATED NEWS Oil & gas loses the ‘throne’ as the biggest … [Read more...] about What is a suitable growth rate of foreign trade for Vietnam?
VietNamNet Bridge - Unable to compete with foreign manufacturers in the home market, Vietnamese mechanical engineering enterprises have to do outsourcing to survive. Vietnamese mechanical engineering companies do the outsourcing to survive A large trade fair taking place in HCM City early next month has 800 stalls booked. The enterprises displaying products are from different industries, including electrical engineering & electronics, technological toys, and machinery. An exhibition on five metals and hand tools will also take place at the same time. To survive, Vietnamese enterprises make components for large companies. However, they also have to compete with foreign invested enterprises and are at a disadvantage. Chair of HAMEE Do Phuoc Tong admitted that Vietnamese mechanical engineering enterprises are meeting difficulties in the home market. They have problems in making complete machines and machine components. RELATED NEWS Vietnam’s mechanical … [Read more...] about Mechanical engineering enterprises do outsourcing to survive
Software outsourcing posts high growthHa Van By Ha Van - The Saigon Time Daily HCMC – The local software outsourcing industry has posted strong growth this year, contradictory to the slackened performance of local hardware makers and retailers, an industry source said. “The software outsourcing industry’s sales might register growth of up to 20-30% year-on-year this year,” said Chu Tien Dung, chairman of the HCMC Computer Association. Software outsourcing companies received many orders from partners in Japan, North America and Europe in the first six months of the year, he said, adding this year’s software outsourcing prices are more stable than in 2008 and 2009, he noted. One of the reasons behind the software outsourcing market’s stability is that Japanese firms have shifted from China to Vietnamese companies. Besides, economic recovery of many markets like the U.S., France and Germany has also left positive impact on the local software outsourcing … [Read more...] about Software outsourcing posts high growth
Price of Vietnam garments to U.S. second highestBy Ngoc Lan - The Saigon Times DailyHANOI – The outsourcing price of Vietnam’s garments and textiles shipped to the U.S market is the second highest after Sri Lanka, said the Ministry of Industry and Trade.The ministry quoted figures from the U.S. customs as saying that Vietnam exported garments to the U.S. market at some US$2.9 a dozen, while the average in the world market is only US$1.8 a dozen.According to the ministry, the share of the country’s garment and textile products in the world market increased by 5.5% in the first five months of the year, the ministry said at a meeting in Hanoi early this week.The industry’s potential for more export remains great because the number of orders placed by foreign markets has increased recently, according to the Vietnam Textile and Apparel Association.The U.S. has accounted for some 50% of Vietnam’s garment exports for years, so American importers will be hit if … [Read more...] about Price of Vietnam garments to U.S. second highest
DKSH to drive growth of MSD in VietnamPhuong Thao HCMC – DKSH, a market expansion services provider with a focus on Asia, has been appointed by MSD, a global healthcare company from the U.S., to drive growth of part of its product portfolio in Vietnam. DKSH Business Unit Healthcare, a partner for healthcare companies seeking to grow their business in Asia, will provide marketing and logistics services for MSD in hospital and pharmacy channels across Vietnam. The collaboration initially spans six brands, including treatments in health, neurology and diversified brands. In Vietnam, DKSH is a reliable partner for companies looking to outsource their marketing activities. Ranked by annual sales, DKSH is listed in the top ten among all pharmaceutical companies. In combination with the customer care centers and logistics platforms, DKSH is well positioned to drive growth for MSD’s products. “Beyond DKSH’s commercial and logistics capabilities, we have selected DKSH … [Read more...] about DKSH to drive growth of MSD in Vietnam