Wood furniture firms advised to optimise domestic materials The world’s wooden interior décor market is predicted to grow 3.5 percent in 2018 and continue expanding, bringing chances for Vietnamese businesses to raise exports of the products. If Vietnamese businesses optimise the material sources they have and make the best use of trade promotion activities, their export earnings can surpass 8 billion USD. According to Huynh Van Hanh, Vice President of the Handicraft and Wood Industry Association of Ho Chi Minh City, in the past 15 years, the wood industry has maintained the growth rate of 8-15 percent a year despite world economic fluctuation. The biggest issue of the wood processing enterprises in Vietnam is they are focusing on a market section with low added value, mostly concentrating on outsourcing for foreign clients. To further develop the domestic wood sector, the businesses should pay attention to a higher target of selling abroad the whole space of high-end … [Read more...] about BUSINESS IN BRIEF 14/6
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Poultry breeding heats up again General manager CP Vietnam Montri Suwanposri said that Vietnam’s poultry prices are closer with prices of other countries; accordingly, CP Vietnam will sell chicken to Japan after finishing paper works as per the partners’ requirement. Montri Suwanposri added that C.P in Thailand is the leading firm exporting chicken meat to Japan for years with the quantity of five million a week. There has been an increase in poutry meat orders lately because many countries banned import chicken from Brazil , an exporter of chicken to Japan, after food safety scandal. These countries switched to import chicken meat from Asian countries especially Thailand. At present, prices of poultry in hi-tech farms in Vietnam is similar to chicken prices in other Asian countries, accordingly, C.P Thailand will share its orders with Vietnamese firms and C.P Vietnam has planned to sell chicken meat to Japan in 2019. In 2017, Vietnam’s livestock sector marked its … [Read more...] about BUSINESS IN BRIEF 16/4
Viet Nam News HÀ NỘI — Sports people are normally extremely healthy, yet death can still come for them at any moment, despite warnings and preventive measures, experts warn. The recent death of a Vietnamese football assistant referee, Dương Ngọc Tân, has raised an alarm for all people, from amateurs to and professional sportspeople and sport management officials, according to Dr Nguyễn Văn Phú, Vice Chairman of the Việt Nam Football Federation and Deputy Director of the Việt Nam Sports Hospital. The referee passed away last weekend days after he collapsed following a fitness test organised by Việt Nam Football Federation (VFF) to select referees for the second tier of the national football league. Phú told Việt Nam News that the incident was a tragedy for not only Vietnamese football but also the whole sport sector. Having worked as an international medical expert for the Asia Football … [Read more...] about Referee’s death raises concerns in sport sector
The two layers weigh in their opinion about the Sabeco-Thai Beverage conflict A case that may affect Vietnam’s reputation on global markets On April 23, Sabeco will hold its extraordinary general shareholders’ meeting, less than six months after it held the share auction that saw Thai Beverage as the only buyer. According to Vietnamese laws and Sabeco’s charter, a shareholder with more than 5 per cent of the stake must hold the shares for six consecutive months or more before they are entitled to appoint nominees to the board. In this case, as Thai Beverage only acquired 53.59 per cent of Sabeco’s shares last December, technically speaking, the Thai investor has not had the right to appoint and vote its representative to be on Sabeco’s board yet. But should there be an exception in this case? Thai Beverage clearly wants to gain control of Sabeco as soon as possible, having forked out almost $5 billion to buy the shares. This is evidenced in their … [Read more...] about Lawyer talk: can and should Thai Beverage gain control of Sabeco now?
Vingroup, T&T to develop urban railway projects in HanoiThe government of Hanoi City has proposed the Prime Minister allow Vingroup and T&T Group to develop three urban railway projects which the city plans to complete by 2025, Tuoi Tre newspaper reports.The two domestic investors will use their capital to make pre-feasibility studies for these projects.When the projects were announced, many investors expressed interest in Hanoi. However, only Vingroup and T&T Group have registered to take part.Both of them proposed implementing the projects in the build-transfer (BT) format. Particularly, Vingroup registered to build the 38.4-kilometer metro line No. 5 which connects Van Cao and Hoa Lac and metro line No. 2 from Tran Hung Dao to Thuong Dinh with a length of 5.9 kilometers. Meanwhile, T&T Group is keen on metro line No. 4 connecting Me Linh, Sai Dong and Lien Ha, and measuring 54 kilometers in length.The two investors said they would use their own finances to study the … [Read more...] about BUSINESS IN BRIEF 9/1