Mexico to face fierce competition from Vietnam: Mexican economists Mexican economists have shared the view that once the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect, Mexico will have to face fierce competition from Vietnam in many sectors, such as garments and textiles, leather and footwear, and electronic equipment. Arnulfo Gomez, a foreign trade expert, said Vietnam has successfully implemented a commercial strategy that helps improve the quality and competitiveness of its products on the international market by reducing spending on materials and applying technology in production. With such advantages, Vietnam has more capacity than Mexico to utilise opportunities generated by the CPTPP, he said. The experts suggested that the Mexican Government set forth new measures to raise the competitiveness of domestic businesses, thus avoiding adverse impacts from the deal. Statistics of the Mexican Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 16/12
Uk trade deficit with germany
BUSINESS NEWS IN BRIEF 13/11
Interest in Singles’ Day sales skyrockets in VN An analysis conducted by online shopping aggregator iPrice found that Việt Nam’s interest in November 11 Singles’ Day sales skyrocketed this year. According to internet traffic data, the company discovered a huge jump of 210 per cent in the number of customers participating in the Singles Day sales in Việt Nam compared to the same time last year. By analysing Vietnamese search trends on Google, iPrice found that keyword searches for “November 11” began growing steadily nearly two weeks prior to the date, three times higher in search interest compared to the same period last year. In addition, Vietnamese consumers were now much more familiar with the November 11 tradition which originated from China, and excitedly look forward to it as an important annual promotion period. For the event, big merchants offered different promotions with discounts being the most popular, together with vouchers, flash … [Read more...] about BUSINESS NEWS IN BRIEF 13/11
Vietnam posts trade turnover of over US$41 billion with EU in Jan – Sep
The Hanoitimes - Vietnam`s trade surplus with the EU stood at US$21.24 billion in the January - September period. Vietnam's total trade with the European Union (EU) stood at US$41.19 billion in the first nine months of 2018, according to the General Department of Vietnam Customs (GDVC). Illustrative photo. Upon breaking down, Vietnam's export turnover to the EU reached US$31.2 billion during the period, up US$2.96 billion year-on-year, while imports were US$9.99 billion. This resulted in Vietnam's trade surplus of US$21.24 billion with the 28-nation bloc in the January - September period. In 2017, trade activities between Vietnam and the EU amounted to US$50.46 billion in 2017, up 11.9% year-on-year and accounting for 11.8% of the country's trade turnover. Of the total, exports stood at US$38.33 billion, up 12.7% or US$4.33 billion year-on-year. Vietnam's major products shipped to the EU last year included computers, electronic products and … [Read more...] about Vietnam posts trade turnover of over US$41 billion with EU in Jan – Sep
BUSINESS NEWS IN BRIEF 20/8
Deutsche Bank appoints new chief country officer for Vietnam Deutsche Bank has just announced the appointment of Hans-Dieter Holtzmann (49) as chief country officer and head of Global Transaction Banking (GTB) in Vietnam, effective from August 16, 2018. In his capacity as chief country officer, Holtzmann will report to Werner Steinmueller, member of the Management Board and APAC Head of Deutsche Bank, and in his GTB capacity, to Kaushik Shaparia, head of Global Subsidiary Coverage, GTB Foreign Exchange and Corporate Cash Management for Asia. Announcing the appointment, Steinmueller said, “We are pleased to have a colleague of Hans-Dieter’s caliber in this role. As one of our key markets in Southeast Asia, our Vietnamese franchise has shown profitable growth and we are excited about the country’s outlook. This is why last year we significantly increased our capital base in this market, providing the bank with more resources to support our clients’ … [Read more...] about BUSINESS NEWS IN BRIEF 20/8
BUSINESS NEWS IN BRIEF 2/8
Can Tho invites investors to investment promotion conferenceThe Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD). At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh Thong said investors have already expressed interest in 44 out of the 54 projects on offer, and some are ready to start work immediately on 22 projects. He added that some projects attracted two or more investors, so the city will set criteria to select the best among them. Among the 54 projects, 21 are in real estate, 9 in culture-sports and tourism, 9 in agricultural and industrial infrastructure, 8 in transport, 4 in logistics and power, 2 in cultural-sport and health care infrastructure and 1 in information technology. Prime Minister Nguyen Xuan Phuc is expected to deliver a keynote speech and chair the conference, … [Read more...] about BUSINESS NEWS IN BRIEF 2/8