Here are the opinions of business leaders on what the fourth industrial revolution has in store for Vietnam. In this current stage of the manufacturing sector, Vietnam is still behind Malaysia and Singapore, which are almost at the robotics or semi-automation level. Given the high cost, there is also a lack of awareness and understanding among Vietnamese companies in regard to the benefits that automation can bring. This is not a big problem, however, but rather an opportunity for companies like Hitachi Systems. I believe that once Vietnamese companies see the benefits over a long-term basis, they will be quick to adapt to the trend. I understand the Vietnamese Government is now looking at Industry 4.0 as a way to sustain the country’s competitiveness. However, the road for Vietnam to enter Industry 4.0 will differ from other countries. Many foreign companies still see Vietnam within the “China plus one” model, with many companies in China diversifying their … [Read more...] about Change is coming with the 4th industrial revolution: experts
Success is when preparation meets opportunity
The question is not whether Vietnam will benefit from the TPP - encompassing 40% of the global economy - but how to maximise its benefits. Once approved by all member countries – the United States, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam – the TPP will create a Pacific economic bloc with fewer barriers hindering the flow of goods and services. “The recently concluded TPP will not only improve market access, but will also serve as a critical anchor for the next phase of structural reform in Vietnam”, said Sandeep Mahajan, lead economist of the World Bank in Vietnam. “The Vietnamese economy is estimated to grow by an additional 8%-10% at least until 2030”. Tariff reductions and liberalised service sectors will mean cheaper imports of goods, services and factors of production. That means labour-intensive manufacturing sectors facing high import tariffs will benefit the most, … [Read more...] about Nhandan Newspaper – Impacts of the TPP on Vietnam – Opportunities and challenges
The Hanoitimes - On July 24, 49th ASEAN Foreign Ministers’ Meeting (AMM-49) was officially opened at the Donchan Plaza Hotel in Vientiane, Democratic Republic of Laos, under the chairmanship of Laos - the country holding the rotation chairmanship of ASEAN in 2016. There were foreign ministers from the 10 ASEAN countries; ASEAN Secretary General Le Luong Minh attending the conference. Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh led Vietnam's delegation to attend the AMM-49. In an opening speech, Lao Prime Minister Thongloun Sisoulith stressed that AMM 49 and related meetings are taking place at a crucial moment when ASEAN is making all-out efforts to implement the ASEAN Vision to 2025 and strengthen its partnership with outside partners. At the same time, the regional and world situation is seeing rapid changes which bring both opportunities and challenges. The Lao PM, therefore, called on foreign ministers of ASEAN and partner countries hold candid and … [Read more...] about The 49th ASEAN Foreign Ministers’ Meeting officially opened
* Tran Khanh Hoang, Executive Vice President of Sai Gon New Port Corporation:TPP and free trade agreements offer Viet Nam many advantages in developing its trade and economy thanks to the increase in foreign trade, which I predict will increase by at least 15 per cent. The biggest weakness of the Vietnamese logistic industry is its small size and lack of connectivity. In my opinion, to successfully integrate, companies should enhance co-operation with each other and improve their capacity by studying the TPP. As the leading port company in Viet Nam, Sai Gon New Port Corporation has been preparing well to utilize the chances arising from TPP. We have focused on developing our three pillars -- ports, logistics and domestic marine shipping services. Our company has a network of 16 seaports located in all regions of the country. In the Mekong region, we have developed barge ports on the Tien and Hau rivers. In the south, Sai Gon New Port Corporation focuses on developing ports in the Cai … [Read more...] about Are logistics companies prepared for TPP?
VietNamNet Bridge - Along with Viettel, the Vietnam Post and Telecommunications Group (VNPT) and MobiFone plan to reach out to foreign markets. Related news New top officials appointed to telecom giants in 2014 Foreign firms eye buying into MobiFone How many MobiFone shares can investors own? Viettel was the first telecom giant of Vietnam which invested abroad in 2006. To date, Viettel has been promoting investment in nine countries with a total of 175 million people. Viettel’s networks are operating in six countries, including Cambodia, Laos, Mozambique, Haiti, East Timor and Peru, bringing $1.2 billion in revenue for Viettel in 2014. In other markets as Cameroon, Burundi, and Tanzania, Viettel has received a license and is implementing investment. Viettel is also seeking investment licenses to invest in a number of African and Eastern European countries. Most recently, Viettel Global, Viettel’s subsidiary specializing in overseas projects, announced that it … [Read more...] about VNPT, MobiFone prepare for overseas investments