A Petrolimex petrol station (Photo: VNA) Hanoi (VNA) – The Vietnam National Petroleum Group (Petrolimex) is adopting a range of solutions in order to complete production and business targets of the third quarter and the entire year of 2022 in the context of unforeseeable fluctuations in petrol prices. One of the solutions is to modernise inventory management while engaging in negotiations with major petrol distributors to ensure supply to meet social demand for petrol. At the same time, the group has taken steps to cut costs in all production and business activities through several projects on centralized fleet management, asset management and customer relationship management. Petrolimex has also worked to increase non-cash payment in retail sales and researched the possibility of building truck stops to provide better services for customers. Under its own plan on digital transformation, the immediate focus is to automate the network of petrol warehouse and retail outlets, … [Read more...] about Petrolimex applies solutions to cope with big fluctuations in petrol prices
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According to an update on Global M&A Industry Trend conducted by PwC, pharmaceuticals, life sciences, and healthcare services continue to attract high levels of investor interest, and this trend will continue through the rest of the year. Ngo Thanh Hai and Nguyen Dieu Quynh from LNT & Partners There are three main reasons that M&As in pharmaceuticals could still be the future trend in Vietnam. Firstly, in the face of growing demand and rapid technological innovation, pharmaceutical companies must continuously improve and develop their research and development departments before their patents expire. Therefore, they will be ambitious to acquire smaller companies with existing conditions. Secondly, to expand the business in Vietnam, the investors will need to consider opening a manufacturing plant or acquiring a current plant from domestic companies. Under World Trade Organization commitments, foreign investors can import but cannot distribute drugs to the … [Read more...] about Are M&As still a top trend in the pharma market?
Inside a clean clam processing line of Lenger Seafoods Vietnam. The company exports products to markets in the EU, the UK, Japan, the US, and South Korea. — Photo courtesy of Lenger Seafoods Vietnam To provide a more favourable playground for enterprises to strengthen and access international markets, Viet Nam is on a path to boost institutional improvement. And it is believed that the United Kingdom-Vietnam Free Trade Agreement (UKVFTA) is accelerating the process, said experts. As Viet Nam has signed many new free trade agreements (FTAs) with countries or regions that require more stringent standards not only on quality but also on production processes, it is crucial for local enterprises to quickly adapt to new rules. Therefore, the Government has to make changes to relevant policies to support them. The reform is building a favourable business environment, reducing transaction expenses for enterprises, especially small and medium enterprises, and attracting quality … [Read more...] about UKVFTA to accelerate Viet Nam’s institutional reform