Business Insight

Eunyoung Jung Eunyoung Jung, CEO of HSBC South Korea, speaks to Viet Nam News reporter Bo Xuan Hiep about the favourable investment climate in Viet Nam and South Koreas plan to pour more money into the country. What do you think about the investment climate here? Viet Nam is a vibrant country with a thriving economy and one of the most attractive investment destinations in the world for Korean investors. Investors from South Korea no longer see Viet Nam as their manufacturing base, but instead as one of their markets with the most potential. Among new emerging markets, Viet Nams economy is known for political stability, a skilled labour force, competitive wages and good policies, as well as strong economic growth. Viet Nam also has the benefit of having a ready supply chain in the country in some industries such as electricity, and textiles and garments. Foreign investors want to invest in Viet Nam to take advantage of the existing supply chains. Which sectors are the most attractive … [Read more...] about Korean investors tag VN as important Asian market

Tran Van Trong Viet Nam's internet economy has developed strongly in the past, including growth of e-commerce in all fields of the socio-economy. Tran Van Trong, Chief of the Viet Nam E-Commerce Association’s Office, told to Vietnam News Agency about this issue. A recent joint study on Southeast Asia’s internet economy by 2025 of Google and Temasek Holdings, said value will reach US$33 billion by 2025. What are your thoughts about this figure and the potential of Viet Nam’s internet economic development? In Viet Nam, the internet economy and e-commerce are similar. Viet Nam’s e-commerce includes online retail, online travel, social media and motorbike and car booking services including fast food delivery. Many other fields are gradually participating in e-commerce market such as education and health care services. According to the association’s report, the growth rate of e-commerce in 2018 was more than 30 per cent and value of the domestic e-commerce … [Read more...] about Viet Nam needs sustainable e-commerce development

To boost the export of rice as per the direction of the Prime Minister, the Ministry of Industry and Trade (MoIT) has many solutions to help businesses find export markets. Tran Thanh Hai, Deputy Director of MoIT’s Import and Export Department, speaks to bnews.vn about the issue. What has the department done to support rice businesses find export markets? The Prime Minister asked the ministry to come up with solutions on developing export markets for local rice products with the goal of maintaining and strengthening traditional markets as well as expanding into new ones. The ministry has coordinated with relevant ministries, sectors, the Viet Nam Food Association and rice exporters to implement solutions, such as reviewing the demand and import policies of foreign markets. The ministry then proposed agreements with foreign partners to facilitate Viet Nam's rice exports. While negotiating bilateral and multilateral free trade agreements and other kinds of agreements, the ministry … [Read more...] about Viet Nam to develop new markets for rice

Mr Bennett Neo The Sai Gon Beer Alcohol Beverage Corporation (Sabeco) is a leading brand name in the Vietnamese beer industry with over 140-year history of brewing. Viet Nam News's reporter Thu Ngan asks Bennett Neo, the companys general director, about business and brand development strategy since the companys acquisition nearly a year ago. Could you tell us about your transformation from a State-owned company into a foreign-invested company since being acquired? We took over the company in August and it has been good so far. In terms of transformation, we recognized and decided we cannot do everything, only a selected number of things. We divided the transformation into seven pillars: sales, marketing, supply chain, production, human resources, cost, and board. For every pillar we have short-, medium- and long-term plans and we look at digital AI to try to help us develop these pillars. For sales, we will leverage and improve our competencies, improve distributor quality and ensure … [Read more...] about Sai Gon Beer seeks to become globally credible brand: general director

After posting a reduction last year, the Vietnamese merger and acquisition (M&A) market is expected to grow this year, fuelled by the adoption of new free trade agreements and the Government’s reforms to facilitate foreign investment. M&A expert Yee Chung Seck, partner of multinational law firm Baker & McKenzie, talks with Viet Nam News reporter Nguyen Thu Ha about the outlook for the market in 2019. Despite a decline across the market last year, M&A activities in the retail sector were positive. Will this trend continue in 2019? We believe that this trend will continue in 2019. While the overall volume of M&A deals was lower in 2018, the broader consumer goods and retail sector continues to be vibrant. Convenience stores and mini-marts in Viet Nam remain one of the fastest growing segments in the industry, and we expect to see continued investment in the retail sector. The growing middle-class and higher disposal income and demand for quality goods and … [Read more...] about Upbeat outlook for Vietnam’s M&A market in 2019