To further internationalize operations, many Vietnamese companies are planning to expand their outward foreign direct investment (FDI) in the years ahead, says the Foreign Investment Agency (FIA). In 2015 they registered total FDI of USD625 million in 102 new business ventures and increased their supplementary investment significantly in another 53 that were already in existence as of the beginning of last year, said the FIA in a recently released report. The FIA report says the companies in 2015 not only increased the scale of funds committed but “fanned out to new non-traditional markets in the US, Russia, Singapore and Germany.” “However, the bulk of outward FDI for 2015 was in Laos and Cambodia, two markets where investment has historically been strong.” They focused investment on the mining, farming, forestry and aquaculture industries, areas they consider their strong points, says the FIA, while spreading out to other industries such as real estate, … [Read more...] about Local companies look to gain footholds in global markets
Brand evaluation is now a top concern of many Vietnamese businesses, especially as more merger and acquisitions (M&A) occur, said Vu Thu Hang, Deputy Director of Ho Chi Minh Ctiy branch's Vietnam Chamber of Commerce and Industry. Hang said at a seminar held in Ho Chi Minh City on November 26 that analyzing challenges and opportunities would help businesses assess their brand value in M&A deals and reduce pressure from competitors. Richard Moore, Chairman and General Director of Richard Moore Associates (RMA), said that local companies' brand value could deteriorate if the firms did not evaluate the effectiveness of their brands. Vietnam has seen a rising number of M&A deals, including one from the Japanese Unicharm Group, which bought all Diana Vietnam Company shares worth about 128 million USD. Masan Consumer has acquired Vinacafe Bien Hoa, while Highlands Coffee has bought the chain Pho 24 for an estimated 20 million USD. Many brand values are assessed at tens of million … [Read more...] about Local companies focus on brand evaluation
He said every year Samsung makes huge contributions to Vietnam's export revenues, and creates jobs for hundreds of thousands of Vietnamese, and that all its products are labeled as "made in Vietnam." Han's statement, despite raising a few eyebrows, did not cause any strong controversy, until recently. During a press conference to promote Vietnamese goods last Wednesday, Vo Van Quyen, who is in charge of domestic market issues at the Ministry of Industry and Trade, seemed to support Han's view. Quyen said products made by Samsung, or any other foreign companies in Vietnam, can be categorized as Vietnamese products. Many local businesses and economists simply do not like that idea. They say the electronics giant, which is now the biggest foreign investor in Vietnam with a total capital of US$11.3 billion, wants to receive the same favorable treatment that the government has given to Vietnamese producers to encourage the consumption of locally made products. Economist Nguyen Van Ngai … [Read more...] about Made in Vietnam: Should Samsung be treated as a local company?
Indonesia is one of the biggest markets in Southeast Asia with a population of more than 250 million.— VNA/VNS Photo HCM CITY (Biz Hub)— Vietnamese companies need to clearly offer products with unique characteristics in order to sell to buyers in the Indonesian market, according to experts. "Indonesia is one of the biggest markets in Southeast Asia with a population of more than 250 million. However, it is very hard for Vietnamese companies to get a foothold there," said Truong Cung Nghia, managing director of Truong Doan Marketing Group. Nghia, who recently visited the country on an exploratory trip, explained that Indonesia buyers would choose locally made products over imported ones if the latter were similar. Bich Chi Food Company, for example, has had success in the market despite having slightly higher prices. Bui Thi Ngoc Tuyen, of the company's Import and Export Department, told Viet Nam News that "while other Indonesian food companies used aromatic spices, our … [Read more...] about Local companies need x-factor to hit Indonesian market
Two local companies will invest 900 million USD to build a deluxe tourist resort in the Dat Do district of the southern coastal Ba Ria-Vung Tau province. The Thanh Long Tourism Ltd. Co. and the Viet Thang-Jean Ltd. Co. are waiting for a license for the largest domestic tourism project so far in Vietnam. It will consist of a number of five-star hotels and villas which will be built on a 120 ha property. The SEADRAGON HILL resort will also include shops, restaurants, a casino, an entertainment centre, and other facilities. The construction is expected to begin in early 2007 and should be completed in 5 years. (Source: VNA) … [Read more...] about Local companies to invest 900 million USD in tourism resort project