Walking out of a hairdressing salon on Dao Tan Street in Hanoi, 24-year-old Ms. Ngoc Linh felt quite pleased with her new curly blonde hair, despite the VND1.5 million ($65) price tag. This was the third time in the month of April she had spent money on hair care, which she would never have done two years ago. “Japanese technology and hair care products are suitable for my hair, so I’m happy to spend money on it,” she said happily. “Everything feels better.” Potential for foreign brands Vietnamese are definitely spending more on hair care. Recording healthy growth annually, Vietnam’s cosmetics industry holds great promise for foreign firms seeking to expand overseas, according to Nielsen Vietnam. While nominal growth in total personal care in traditional trade increased 1.5 per cent in 2017, compared to 5.2 per cent in 2016, the personal care category saw a boom in terms of modern trade channels, up 9.2 per cent across modern … [Read more...] about Local beauty care brands must change to compete
Local industry
Bac Giang prioritises development of key industries
Inside a garment company at Dinh Tram industrial park in Bac Giang province (Photo: VNA) Bac Giang (VNA) – The northern province of Bac Giang will channel focus to promote the development of key industries like agro-forestry processing, electronics, garments, fertiliser, chemical and building materials with a view to becoming an industrial province in the future. According to Vice Director of the provincial People’s Committee Phan Van Hung, due attention will be paid to high-tech industry and support industry at industrial parks so that local products can join global value chains. Garment projects in rural areas will be prioritised to create jobs for local labourers while support industries for the garment sector will be developed to set up a production value chain. Along with investing in industrial parks and working to attract domestic and foreign investments, the province is diversifying chemical products, developing the solar energy sector and carrying out the An … [Read more...] about Bac Giang prioritises development of key industries
Support industry urged to boost capacity
(VEN) - Vietnam plans to prioritize development of support industries serving component and spare parts, textile and garment, leather and footwear, and high-technology industries. The demand for support industry products serving the automobile industry is huge Meeting 10 percent of domestic demand According to the Ministry of Industry and Trade’s Department of Industry, most support industries in Vietnam need to improve their production capacity and technology, given that they currently only meet 10 percent of the domestic market demand. Vietnamese enterprises barely satisfy any of demand for high-tech support industry products, as the gap between their capability and multinational corporations’ requirements remains large. Some support industry producers are only interested in production expansion and haven’t paid heed to intensive investment in technology improvement. Ensuring stable quality, punctual delivery and reasonable price is … [Read more...] about Support industry urged to boost capacity
Vietnam to spend VND21 trillion on industrial park infrastructure
Nearly VND21 trillion (US$924 million) will be invested in the development of infrastructure for economic zones and industrial parks in Vietnam as part of a plan recently approved by Prime Minister Nguyen Xuan Phuc. The move is expected to make Vietnam's economic zones more attractive to investors The plan is designed to improve the local infrastructure in order to attract more investment into these zones by 2020. Specifically, Vietnam aims to complete 200-250 kilometers of roads and wastewater treatment facilities with a daily capacity of 13,000-14,000 cubic meters in 16 coastal economic zones, with a further 200-250 kilometres of roads and wastewater treatment capacity of 300-400 cubic meters a day for 21 border economic zones. At the same time, 80-100 kilometers of roads will be built for 30-35 local industrial clusters in disadvantaged areas. Water drainage systems, wastewater treatment facilities and power supply systems will also be built for hi-tech parks. The plan … [Read more...] about Vietnam to spend VND21 trillion on industrial park infrastructure
HCM City’s index of industrial production rises 6.05 percent
The index of industrial production (IIP) in Ho Chi Minh City picked up 6.05 percent year-on-year in the first quarter of this year. (Photo: VNA) HCM City (VNA) – The index of industrial production (IIP) in Ho Chi Minh City picked up 6.05 percent year-on-year in the first quarter of this year. The figure in March rose 42.1 percent against the previous month and 7.07 percent against the same time last year. Director of the municipal Department of Industry and Trade Pham Thanh Kien attributed the IIP growth to the city’s programmes and policies to support the development of local industry and support industry. Output of the four key industrial sectors: manufacturing, electronics, chemicals-rubber-plastic and food processing experienced a year-on-year growth of 6.79 percent thanks to market expansion, renovation of equipment as well as improvement in the products’ quality and competitive capacity. Particularly, significant hike was seen in the electronics - … [Read more...] about HCM City’s index of industrial production rises 6.05 percent