Innovation, creativity, and business support mechanisms in realizing innovation efforts are challenging businesses, ministries, sectors, and localities amid the rapid development of science and technology. Innovation and creativity are an area in which Vietnamese businesses are weak during the Fourth Industrial Revolution in which labor productivity is of utmost importance. Vietnam's labor productivity is approximately US$4,000 per person per year, a very low rate compared to others in the region. FPT Software President Hoang Nam Tien said, “Currently businesses which are faster will win, defeating even bigger enterprises. How to embrace digital transformation remains an important question for all enterprises. The answer is to be quick to seize opportunities. Businesses should begin with small, simple things but be as quick as possible. In that way, it can quickly produce the desired effect.” Dr. Nguyen Dinh Cung, Director of the Central Institute for Economic … [Read more...] about Vietnamese businesses innovate for comprehensive integration
Vietnamese business for sale
Shopping for sale off US brands easier than ever with US Express
US Express, an e-commerce business specialised in purchasing and shipping goods from the US to Vietnam, on April 17 held the "Sale-off Authentic Brands" event aiming to launch its system connected to Nordstromrack and HauteLook, the biggest sale-off authentic brands in the world. Industry 4.0 has changed consumers' shopping habits Customers attending the event had the opportunity to buy a wide range of products from many prestigious US brands at discount prices of up to 90 per cent. In addition, US Express also organised the “Order 4.0” talk show to introduce its services of purchasing sale-off branded items from the US, organized a lucky draw, and a reverse auctionof branded products from VND0. The US is known as the birthplace of global brands and its goods, supplies, and utensilsare widely loved by consumers, including Vietnamese. However, the purchasing of authentic US goods and shipping time remains an obstacle for consumers as many US e-commerce … [Read more...] about Shopping for sale off US brands easier than ever with US Express
Vietnamese businesses win big in 15th international Stevie Awards
The complete list of Stevie winners by category is available at http://www.StevieAwards.com/IBA. Nicknamed the Stevies from the Greek word for "crowned," the awards will be presented at a gala event on Saturday, October 20 at the InterContinental London Park Lane Hotel in England. The five Vietnamese organisations won a total of seven Gold, Silver, and Bronze Stevie Awards in a variety of categories. TH Milk JSC received one Gold for Entrepreneur of the Year–Food & Beverage and two Bronzes for Best New Product or Service of the Year–Consumer Products and Customer Service Department of the Year. Viettel Group also received a Gold Stevie Award for Best New Product or Service of the Year–Telecommunications-Product, and Flamingo Group for Product Development/Management Department or Team of the Year. Other Silver and Bronze Stevie Award winners include Business Coaching Hanoi West Co., Ltd. and Swiss Post Solutions Ltd. Gold, Silver, and Bronze Stevie winners were … [Read more...] about Vietnamese businesses win big in 15th international Stevie Awards
East Saigon running out of apartments for sale to foreigners
Thien’s apartment was in a prime area with a view of the Saigon River in Ho Chi Minh City’s Thao Dien Ward, District 2. He could have sold it for VND5.5 billion ($236,000) to a foreign buyer, but had to sell to a local investor for VND5 billion ($215,000) because the 30 percent cap of foreign ownership had already been reached. Like Thien, Luong bought a high-end apartment on Ha Noi Highway, District 2, in 2017, and sold it to a foreigner early 2018. It was after the contract was signed that he learnt that the foreign ownership cap had been reached. It took him another month to find a Vietnamese buyer for lower profits. The amended Housing Law 2014 expanded foreigners' rights to buy housing in Vietnam but stipulates a foreign ownership cap of 30 percent in each project. Savills Vietnam director Matthew Powell said that many apartment projects in HCMC have reached the 30 percent foreign ownership limit since last year, especially in expat dense areas. Song Hai, an … [Read more...] about East Saigon running out of apartments for sale to foreigners
Vietnamese businesses reap fruits in foreign markets
People in Timor-Leste register for Viettel’s 4G SIM card (Source: internet) Hanoi (VNA) – Vietnamese firms have had a lot of success while investing in foreign markets. The military-run telecom giant Viettel announced the total amount of profit transferred to Vietnam from its foreign ventures was 1.3 billion USD by the end of 2017. Revenues from foreign investment, including sales of Viettel Global and the Peruvian market, exceeded 38 trillion VND (1.7 billion USD) in 2017, showing a year-on-year rise of 38 percent, more than nine times the average growth rate of the global telecommunication industry. In the second quarter of 2018, Viettel will launch services in Myanmar, its 10th foreign market after Cambodia, Laos, Timor Leste, Haiti, Peru, Mozambique, Cameroon, Burundi, and Tanzania. Meanwhile, TH True Milk, a leading milk producer, said it is waiting for the first products from its first dairy farm in Russia, which was inaugurated earlier this year. TH True Milk … [Read more...] about Vietnamese businesses reap fruits in foreign markets