A Lotte Mart in HCM City. The RoK government is pursuing the expansion of consumer goods exports to Viet Nam to make up for the country's slowing trade. – Photo hcmc.vn HA NOI (Biz Hub) – The Republic of Korea's (RoK) consumer goods firms are shifting their overseas focus to Viet Nam, increasing investment and aggressively opening new branches, Yonhap news agency quoted industry watchers in an article on May 2. In its article, Yonhap says with a population of over 90 million and 60 per cent in their 30s or younger, Viet Nam stands out as a market promising robust growth. A recent report by the Korea Trade-Investment Promotion Agency said the RoK government was pursuing the expansion of consumer goods exports to Viet Nam to make up for the country's slowing trade. It described Viet Nam as a good opportunity for local firms. CJ Group, whose affiliates range from entertainment to food and beverages, made an early start when it opened an office in Viet Nam in 1998. The … [Read more...] about RoK firms shift overseas business focus to Viet Nam: Yonhap
Business focuses
RoK firms shift overseas business focus to Vietnam: Yonhap
Seoul (VNA) – The Republic of Korea’s (RoK) consumer goods firms are shifting their overseas focus to Vietnam, increasing investment and aggressively opening new branches, Yonhap news agency quoted industry watchers in an article on May 2. In its article, Yonhap says with a population of over 90 million and 60 percent in their 30s or younger, Vietnam stands out as a market promising robust growth. A recent report by the Korea Trade-Investment Promotion Agency said the RoK government is pursuing the expansion of consumer goods exports to Vietnam to make up for the country's slowing trade. It describes Vietnam as a good opportunity for local firms. CJ Group, whose affiliates range from entertainment to food and beverages, made an early start when it opened an office in Vietnam in 1998. The group's chairman, Lee Jay-hyun, declared in 2012 that the conglomerate will build a "third CJ" in Vietnam following the RoK and China. In February, it took over Ong Kim's, a popular … [Read more...] about RoK firms shift overseas business focus to Vietnam: Yonhap
REE to quit non-core business, focus on power, coal, water
Refrigeration Electric Engineering Co invested in the Saigon Pearl 2, a luxury apartment complex, in HCM City. The company would divest from its non-core business to focus investment on the electricity, water and coal industries this year. — File Photo HA NOI (VNS)— Refrigeration Electric Engineering Co (REE) would divest from its non-core business to focus investment on the electricity, water and coal industries this year, shareholders heard at their annual meeting last week. The company finished restructuring its securities investment last year. Its portfolio currently included shares in three companies valued at VND20 billion (US$0.95 million), and REE would divest from these firms this year, according to company chairwoman and CEO Nguyen Thi Mai Thanh. She said REE would need around VND1 trillion ($47.6 million) to invest in the electricity, water and coal sectors. Last year, REE invested VND584 billion ($27.8 million) in electricity and coal companies, in which … [Read more...] about REE to quit non-core business, focus on power, coal, water
Businesses focus on improving job skills
Figures from the survey suggest that candidates who switched jobs last year could command an average 10-20 per cent salary increment. And this trend is likely to continue in 2014.— Photo tapchidep HCM CITY (Biz Hub) — Companies in Viet Nam this year will focus on improving skill sets of staff by using internal programmes, a survey from an international recruiting company has found. According to the Robert Walters' annual Global Salary 2014, companies face recruitment pressure because of a small pool of highly qualified staff. "As companies continue to compete for top Vietnamese talent, the shortage of candidates and lack of skills in niche areas pose recruitment challenges," Jon Whitehead, country manager of Robert Walters Viet Nam, said at a conference early this week in HCM City. "Employers are likely to focus on training and development programmes for existing teams in order to nurture talent internally," he said. "Attracting overseas Vietnamese back home is another … [Read more...] about Businesses focus on improving job skills
Thai businesses focus on VN processing, manufacturing industries
A corner of Nguyen Kim Supermarket. Its shares have been acquired by Power Buy, a subsidiary of the Central Group of Thai billionaire Chirathivat. — Photo thebank.vn HA NOI (Biz Hub) — Thai businesses have been focusing on investment in processing and manufacturing industries in Viet Nam, data issued by the planning and investment ministry's Foreign Investment Agency showed. According to the agency, there are about 200 Thai projects in such industries, worth a total US$7 billion and comprising 88 per cent of Thailand's total investment in Viet Nam. These sectors are followed by agriculture, forestry and seafood sectors, which have 31 projects worth $235 million. The rest are in retail and construction sectors. As of the end of February this year, Thai businesses had invested in 428 projects in the country, with a total investment capital of $7.88 billion, ranking 11th among countries and territories that have invested the largest capital in Viet Nam. A Thai project was … [Read more...] about Thai businesses focus on VN processing, manufacturing industries