A Vietnamese booth at WorldFood Moscow 2019. — Photo nhandan.com.vn MOSCOW Ten Vietnamese companies are showcasing their products at WorldFood Moscow 2019, one of Russia's leading food and drink expos, which opened in Moscow on Monday. Among their goods are farm produce such as rice, coffee, tea and cashew nuts, as well as seafood, forestry, canned fruits, dairy products, juice drinks and beer. Since its inception in 1991, the major exhibition, which serves the global food and drinks industry, has grown to become the entry point for international manufacturers looking to enter the vibrant Russian market. Every year, the event connects thousands of businesses from around the world with Russia's key food and drink buyers, including retail representatives from Russia’s leading supermarket chains, wholesalers and food manufacturers. Nguyễn Thị Mỹ Nhi, president of Tín Thịnh Co, which … [Read more...] about Vietnamese firms join int’t food fair in Russia.
Photo: VGP/Le Son Deputy PM Truong Hoa Binh attended a roundtable with the Singapore Manufacturing Federation (SMF) on the sidelines of his working visit to Singapore. Deputy PM Binh said that after 46 years of diplomatic ties and six years of strategic partnership, Singapore has become an important partner of Viet Nam in terms of investment, trade, tourism, education, healthcare, and transportation in ASEAN. Singaporean businesses early set their footholds in Viet Nam in various fields. So far, Singapore poured over US$ 50 billion of FDI into over 2,300 projects in 48 out of 63 provinces and cities in Viet Nam, making it third largest investor among 132 countries and territories investing in Viet Nam. In the first half of 2019, Singapore invested US$ 3.2 billion in Viet Nam. Especially, seven Viet Nam-Singapore Industrial Parks (VSIP) were effectively operatiing. They represented good symbols of economic cooperation between the … [Read more...] about DPM works with Singapore Manufacturing Federation
China's automobile manufacturers have a low-pricing strategy. The Z8 model of Zotye and Q7, and X65 and BJ40 of BAIC have design nearly similar to models of famous manufacturers Porsche and Mercedes Benz, but they are much cheaper. While European models have selling prices of several billion dong, Chinese cars are priced at VND700 million, though they are equipped with fashionable utilities. Chinese cars are distributed through small car dealers who import cars to order. Recently, some Chinese manufacturers opened showrooms in Vietnam and are seeking partners to work as sale agents in cities and provinces. Dong Feng Feng Xing, for example, has opened a large showroom on Highway No 13 in Hiep Binh Chanh Ward of Thu Duc District, HCMC. Next to the area for displaying cars, there is a maintenance service area with sufficient equipment. A representative of Dong Feng Feng Xing said the company is popularizing its brand to strengthen its presence of Dong Feng’s products in Vietnam. It … [Read more...] about Vietnamese remain hesitant about Chinese cars
AICA Kogyo Co., a Japanese manufacturer of chemicals and housing materials, said on October 4 it will buy two Vietnamese synthetic material makers at a total cost of about 980 million JPY (9.2 million USD). The AICA Kogyo’s Taiwan-based subsidiary, Evermore Chemical Industry Co., will sign contracts in early October to acquire a 100 percent stake in U-Best Vietnam Polymer Industry Co. and Vietnam Sunyad Technology Ltd, the firm said in a statement. VNA … [Read more...] about Japanese firm to buy two Vietnamese synthetic material makers
Vietnam Economy Vietnamese supporting industries lag far behind Thailand By Thuy Dung Monday, Oct 14, 2019,12:49 (GMT+7) Vietnamese supporting industries lag far behind ThailandBy Thuy Dung Visitors look at supporting industry products displayed at a fair in HCMC. Compared with Thailand, Vietnamese supporting industries are still in a nascent stage – PHOTO: TAM AN HANOI – Compared with Thailand, Vietnamese supporting industries are still in a nascent stage. The localization ratio of the Thai automotive industry is roughly 60-70% compared with 7-10% in Vietnam, stated Vu Trong Tai, general manager of Reed Tradex Vietnam. Tai told the Saigon Times that the supporting industries in Vietnam have made impressive progress over the last few years. The country has seen more small and medium enterprises (SMEs) participating in the global supply chain, and the localization ratio has increased. Many local companies can … [Read more...] about Vietnamese supporting industries lag far behind Thailand