BUSINESS NEWS IN BRIEF 4/3

J.D. Power: Auto buyers expect better sales process


J.D. Power: Auto buyers expect better sales process

Reducing the time taken to complete the various sales processes for purchasing a new vehicle, for example by using technology devices and improving the manner in which features are explained and demonstrated, is crucial to achieving an enhanced customer experience, according to the J.D. Power 2018 Vietnam Sales Satisfaction Index (SSI) Study released recently.

The study found that the timeliness ò competing the final delivery and paperwork for the vehicle are the aspects of the sales process in which new car owners in Vietnam feel least satisfied. The delivery process takes 50 minutes on average, but customer satisfaction is highest (841 points on a 1,000-point scale) if the delivery process could be completed within 30 minutes compared to 824 points when more than 30 minutes is taken.

“Customers are sensitive about the time they spend in the showroom during the delivery process,” said Mr. Siros Satrabhaya, Regional Director, Automotive Practice, at J.D. Power. “Dealer staff need to ensure that they spend their time with customers efficiently and in a way that brings the most value to the customer, for example by explaining how to use vehicle features and reviewing sales paperwork.”

“Using tablet devices to demonstrate features during the delivery process, in addition to providing follow-up explanations of features after delivery, could help to reduce the duration of the process on the day of delivery and ensure an improved customer experience.”

The study found that customers who receive follow-up explanations of features at the dealership or over the phone (842 points and 832 points, respectively) are more satisfied than those who do not (753 points). Similarly, customers who experience demonstrations of a vehicle’s features via technology devices at delivery are more satisfied than those who do not experience the same (839 vs. 793 points, respectively).

It also found that test drives are sought after, with satisfaction among customers offered a test drive being higher than those not offered one. More customers in 2018 were offered a test drive compared to the previous year and more actually took the vehicle for a test drive compared to 2017.

Customers who financed the purchase of their vehicles were less satisfied across all attributes compared with customers who paid cash. The greatest differences in satisfaction occur in relation to the ease of coming to an agreement on the final price, the transparency of the paperwork / finance process, and the timeliness of completing the final paperwork process.

In addition, new vehicle owners must wait eleven days on average to have their car delivered from the showroom. Those who receive their car within three days after purchase are more satisfied compared to those who must wait for more than seven days.

Among the eight brands ranked in the study, Hyundai and Toyota ranked highest, both with 838 points. Hyundai performed particularly well on dealership website, dealership facility and working out the deal, whereas Toyota performed well on sales consultants, paperwork completion, and the delivery process.

Toshiba expands business in Vietnam

Toshiba expands business in Vietnam

The Toshiba Elevator and Building Systems Corporation (TELC), headquartered in Kawasaki, Japan and a subsidiary of the Toshiba Corporation, announced on March 4 in Ho Chi Minh City the establishment of the Toshiba Elevator (Vietnam) Limited Liability Company (TELV).

The newly-established company officially got underway on March 1 to strengthen business operations in the rapidly-growing Vietnamese market. TELV has registered capital of VND40 billion ($1.72 million) and specializes in the sale, installation, and maintenance of elevators and escalators. TELC holds 75 per cent of capital and former CEO of the New City Technology Trading Services Co. Ltd (NCE), Mr. Nguyen Tran Dinh Khoi, 25 per cent.

TELC entered Vietnam in 2014 through a partnership with local company NCE, with both steadily expanding business operations since, through sales and marketing activities.

Based on NCE’s success and riding on Vietnam’s rapid economic growth compared to other countries in ASEAN, now is a good time for TELC to establish a subsidiary to further build its business opportunities.

By strengthening sales activities and offering high-quality field services in the fast-growing Vietnam market, it aims to further expand its business operations in the region.

TELC was established by Toshiba in 1967 and began global operations in the early 1970s. It is now an important unit of Toshiba’s social infrastructure business sector and a widely respected company with global reach.

It has completed numerous iconic projects, including installing the ultra-high-speed elevators in Taiwan’s Taipei 101. It was certified by Guinness World Records as the fastest elevator in the world, at a speed of 1,010 meters per minute, from 2004 to 2017. TELC has also installed large capacity high-speed elevator (40 persons, 10 meters per second) in the most iconic building in Japan, Tokyo Skytree.

Samsung & OPPO retain lead in smartphone sales

Samsung & OPPO retain lead in smartphone sales

Two Asian brands - Samsung and OPPO - retained their leading positions in Vietnam’s smartphone market in the fourth quarter of last year, according to the latest report from IDC Indochina.

More than 15 million smartphones were purchased in the country in 2018.

Samsung led in terms of volume, with a market share of 34.5 per cent, followed by OPPO with 23.6 per cent then Huawei with 6.9 per cent. Samsung and OPPO have been locked in competition over recent years to secure even higher market shares.

In just the fourth quarter, there were more than 4.2 million smartphones sold in Vietnam, higher than the 3.7 million figure in the third quarter. Samsung remained king, despite its market share falling considerably over the last few years, with its 34.5 per cent down from 37.9 per cent in the fourth quarter of 2017. OPPO followed with 22 per cent share and Huawei with 11.6 per cent.

Huawei seized third place from China’s Xiaomi.

Mr. Vo Le Tam Thanh, a local analyst at IDC Indochina, spoke with VET previously about the prospects in the smartphone market in 2019, saying that Xiaomi and Huawei would continue to boost activities to take over more market share from other brands, as the market has become saturated. Samsung and OPPO also continued to retain their leading positions in terms of revenue and profit.

Apple ranked among the top 3 smartphone brands in the second quarter of 2017, according to IDC Indochina. It also plans to build a database center in Vietnam, and Prime Minister Nguyen Xuan Phuc told Apple CEO Tim Cook he supports the plan when they met Davos on January 23.

Framgia changes name to Sun* Inc.

The Tokyo-headquartered Framgia Inc. announced on March 4 its corporate identity changed from March 3 to Sun Asterisk JSC (Sun* Inc or Sun*) and it has adopted a new brand identity with a new logo.

Its subsidiary, Framgia in Vietnam, has also changed to Sun Asterisk Vietnam Co., Ltd from March 4. Its profile information remains unchanged.

With the new name, the company is to be a “Creative Studio” resolving social problems and actively updating trends. The logo’s meaning is that the Sun is the source that nurtures life on Earth, with the company aiming to become a powerful source that enlightens and ensures the development of new business fields and new seeding reformers. Asterisk, meanwhile, is a symbol of multiplication in many programming languages. By collaborating with different people, in different jobs, at different locations, the company resolves many problems and pioneers active updating of the situation. Moreover, the asterisk is also a symbol of the Sun, and the logo depicts the image of a bright Sun by including a sharp contrast compared to the regular asterisk.

Mr. Kobayashi Taihei, Director of Sun Inc., said the Framgia brand has become familiar since its establishment, creating a position as an offshore software development company. Aware of the big gap in development direction, the company decided to change its brand identity. “We carry the image of a ‘Creative Studio’, focusing on professionals who are passionate about finding solutions rather than the image of a software development company,” he said. “The world we are aiming for is a society in which people bring passion and ambition ‘to make society better’ and ‘make people’s lives more varied’, where they can immerse themselves in creating new values.”

The legal status of the company and the entity signing contracts remains unchanged. Contracts signed under the name “Framgia Joint Stock Company” remain in effect.

Established in 2012, Sun* is a Digital Creative Studio, available on 1,300 members in six cities and provinces in four countries. The company operates primarily in the field of Startup Studio services, software development, and digital transformation, employing the latest technologies, and IT engineer training to create new values professionally.

Laguna Golf Lang Co at top of maintenance game

Laguna Golf Lang Co at top of maintenance game

Laguna Golf Lang Co, one of Vietnam’s leading golf layouts, is staying at the top of its maintenance game by utilizing the talents of a very special group of greenkeepers: a family of water buffalo.

Dedicated greenkeeping staff at top clubs around the world deploy sophisticated hardware and a variety of innovative techniques to keep their layouts in world-class nick. At Laguna Golf Lang Co though, the legwork involved in maintaining the elevated status of the layout, a spectacular Nick Faldo-designed track where golfers encounter tropical jungle, ocean sand dunes, and rice paddies, is shared between man, machinery and beast.

“We are pretty sure it’s a first in this part of the world to have animals performing such an important role on the golf course,” said Mr. Adam Calver, Director of Golf at Laguna Golf Lang Co, of the work carried out by father Tu Phat, mother Chi Chi, and their calf, Bao, tending to 4 ha of rice fields located right in the middle of the course. The paddies contour the 3rd and 4th holes and reappear in the back nine between the 13th green, 14th tee, and run alongside the 15th fairway.

In the early days of golf, when courses were mostly laid out on public land, it was not uncommon for sheep and cattle to roam freely across fairways and greens.

Even today at some courses - notably the wilder links clubs in remote regions of Scotland and Ireland - livestock play their party in trimming turf and thinning out rough.

Courses in Asia, though, have been less willing to let animals in on the greenkeeping act - until now that is.

Even on the quietest days, the water buffalo are always out wading through the rice paddies and performing their duties.

“We looked at various methods to increase the aesthetics of the rice paddies between the harvests, as continually mowing the fields to maintain vast rice terraces can consume a large amount of labor,” added Mr. Calver. “The water buffalo act as bio-mowers while also protecting the traditional Vietnamese landscape.”

The bovine threesome help to manage the paddies by eating excess weeds and crops in an area that would otherwise require machinery and manpower to maintain.

Not only do the animals provide a vital service in tending to the paddies, they supply an additional appealing optic to one of the most eye-catching sections of a golf course that is already strong on visual manna.

The paddies, though, are not just for show. Harvested twice a year, they yield up to 20 tons of rice that are used to support the organic farm at Laguna Lang Co and are donated to families and seniors in the area.

Toyota opens new dealership in Ha Tinh

Toyota opens new dealership in Ha Tinh

Toyota Vietnam (TMV) has expanded its dealer / dealer branch and authorized service stations to north-central Vietnam to meet growing demand.

Toyota Phu Tai Duc - Ha Tinh in north-central Ha Tinh province operates under the 3S model (Sales, Service and Spare Parts) and increases the total number of dealers / dealer branches and authorized service stations to 56 nationwide.

The new outlet fully meets Toyota’s standards in human resources, factory facilities, and infrastructure. It has three main areas: a product showroom, a lounge area for customers, and service workshops, with eight general repair compartments, five quick repair compartments, and 23 repair-painting compartments.

With highly-qualified and professionally-trained staff and facilities and equipment that meet Toyota’s global standards, Toyota Phu Tai Duc - Ha Tinh sells vehicles and provides services in warranty, maintenance, repair and spare parts.

In addition to a head office in northern Vinh Phuc province and two branches in Hanoi and one in Ho Chi Minh City, TMV also has 56 dealers / dealer branches and authorized service stations in 25 cities and provinces around Vietnam: 19 in the north, 25 in the south, and 12 in the central region.

With the opening of Toyota Phu Tai Duc Ha Tinh, TMV once again affirms its continuous efforts to bring the greatest benefits and satisfaction to customers through the expansion of sales and after-sales services to different regions of the country.

U.S. avionics manufacturer seeks domestic suppliers

Kevin Loebbaka (C), chief operating officer of UAC, and foreign investors at Spring Dialogue 2019 on March 1


U.S.-based Universal Alloy Corporation Asia Pte, Ltd, (UAC) aims to cooperate with domestic suppliers of appliances and services to develop its avionics manufacturing project in the central coastal city of Danang.

Speaking at a ceremony for Danang authorities to present investment certificates to investors within the framework of Spring Dialogue 2019, held in Danang City today, March 1, Kevin Loebbaka, UAC chief operating officer, noted that UAC will buy machines, tools, wrapping, equipment and materials from local firms, especially from Danang-based suppliers to complete its US$170 million project.

“We will join hands with the Danang University of Science and Technology and Danang Vocational Training College to turn out standard workers to serve the project,” Loebbaka said, adding that the firm intends to employ 650 laborers, including engineers, technicians and technology experts, in 2021 and over 1,000 employees two years later.

In addition, the representative of UAC remarked that Vietnam is a potential market for UAC to tap into and develop the avionics manufacturing industry, adding that over 30% of orders for new Boeing and Airbus aircraft have come from the Asia Pacific region.

“Vietnam has seen Vietjet Air order 65 Airbus A320 and A321 jetliners and Bamboo Airways order 20 Boeing 787-Dream Liner aircraft,” the representative stated.

UAC’s factory will produce 4,000 aircraft parts, to be exported to North America and the EU markets.

In other news, Imex Pan Pacific Co., Ltd, (IPP) in June will open the country’s first duty-free shop in Danang City, IPP Chairman Johnathan Hanh Nguyen said at Spring Dialogue 2019, adding that the projected shop is the firm’s first step in developing a commercial complex in the city.

The complex is expected to target tourists and local consumers as the number of visitors to Central Vietnam and Danang City is on the rise, Nguyen remarked.

Deputy PM backs preferential policies for efficient FDI firms

A laborer is seen working at a foreign invested company in Vietnam 


The Government’s preferential policies should be extended to well-performing foreign direct investment (FDI) firms only to ensure fairness for State-owned firms and prevent possible revenue losses for the State budget, the Government news website reported, citing Deputy Prime Minister Vuong Dinh Hue.

At a meeting on February 28 with the National Assembly’s Economic Committee and the relevant ministries and agencies on the performance of FDI firms and incentives offered to them, Deputy PM Hue stated that incentives should be applied in an appropriate manner, focusing on attracting projects run by multinational groups.

At the meeting, Deputy Minister of Finance Huynh Quang Hai noted that Vietnam currently hosts 21,400 FDI enterprises, accounting for some 3% of the total number of firms operating in the country.

FDI companies have maintained high revenue and profit growth. In 2017, the sector reported a revenue increase of 26% over 2016.

These enterprises have made up more than 70% of the country’s trade revenue and 15% of the State budget revenue.

However, FDI attraction still has shortcomings, with capital mainly flowing into labor-intensive sectors and areas with favorable conditions.

In addition, more than half of the FDI firms in Vietnam have reported losses in the last three years, while transfer pricing has become more complicated.

The sector’s contribution to the State budget is growing at 7%, well below the growth of their pretax and posttax profits, at 19.2% and 22%, respectively. According to the Ministry of Finance, the FDI sector enjoys more tax preferential policies than other economic sectors.

Specifically, FDI firms’ exempted corporate income tax makes up 76% of the total exempted tax amount. Nearly half of these firms’ corporate income tax is reduced, while the rates are 4.8% for State-run enterprises and 14% for non-State enterprises.

Speaking at the meeting, Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong reported that the central bank’s recent survey showed that 140 FDI enterprises’ loans were over four times higher than their charter capital.

EVN to provide only 50% of solar power capacity

Two workers clean solar panels in this file photo 


Vietnam Electricity Group (EVN) intends to transmit 50% of its total solar power capacity to the national energy grid as it takes three to five years to invest in transmission lines, while about one year is spent building solar power systems, Thanh Nien newspaper reported.

After Government Decision 11 on pricing came into force, the country saw 365 solar power projects, with a total capacity of 29,000 megawatts (MW), being registered for investment as of end-2018, according to EVN.

Of the figure, 141 projects were added to the plan and 95 others with a capacity of 6,100 MW were signed by EVN to buy electricity. Only 50% of the total capacity is expected to be transmitted to the national energy grid, the group said.

As of end-2018, a mere 1,800 local households had installed rooftop solar power systems, with a total capacity of 30 MW and an accumulated electricity generation capacity of 3.97 million kilowatt hours. The low figure was attributed to high investment costs, along with cumbersome payment and device requirements.

EVN proposed the Government set aside money to support local households who want to install solar panels on the rooftops of their houses. In addition, the Ministry of Industry and Trade should quickly amend Circular 16 to enable EVN and its subsidiaries to sign official contracts and make solar power payments to customers.

Business closures outpace newly-established firms

Workers are seen at a garment company. Enterprises shutting down or filing for closure outpace newly-established ones in the first two months of the year

The first two months of the year saw more than 16,800 enterprises shutting down or filing for closure, while the number of newly-established firms was nearly 16,000, Thanh Nien Online newspaper reported, citing statistics from the General Statistics Office.

In this period, 3,156 firms completed dissolution procedures, up 24.8% over the same period last year. These firms are mainly in the wholesale, retail, auto and motorcycle repair, processing and construction sectors.

In addition, up to 13,500 businesses halted their operations, a year-on-year increase of 21%.

Although the number of newly-established firms decreased by 14.6% over the first two months of 2018, their registered capital picked up by 25.4% to VND247.4 trillion (US$11.8 billion). Further, active businesses registered to increase their charter capital by an additional VND531.2 trillion.

In terms of sectors, the wholesale and retail sector welcomed 6,000 newcomers, while the processing and manufacturing sector had 2,100 new firms and the construction sector 2,000 companies, down 7.3%, 9.4% and 17.2%, respectively.

PM urges monetary loosening

Firm eyes big investment in Danang waste treatment, C.P Vietnam may be impacted by African swine fever, US capital pouring into assembly in Danang, Over 18.8 trillion VND raised from G-bond auctions in February

Prime Minister Nguyen Xuan Phuc (standing) speaks at a monthly Cabinet meeting on March 1 - PHOTO: VGP


Prime Minister Nguyen Xuan Phuc, speaking at a monthly Cabinet meeting on March 1, told the State Bank of Vietnam (SBV) to direct local banks to expand credit and reduce lending rates for priority sectors this month to fuel the country’s economic growth, the local media reported.

The Government leader hailed the country’s positive economic development results in the first two months of the year, especially in trade, industrial production and in the attraction of foreign direct investment. However, he also pointed out several shortcomings, such as the slow disbursement of capital for public projects and the trade deficit.

Vietnam is being affected by external factors, including trade tensions between the United States and China, tightening monetary policies by central banks in other countries, China’s slower growth and climate change, PM Phuc said, citing International Monetary Fund Managing Director Christine Lagarde.

He stressed the targets of macroeconomic stability and for controlling inflation, calling upon all ministries, agencies and localities to increase efforts to ensure sustainable economic growth.

Specifically, he requested the Ministry of Finance to seek solutions to improve the operation of the stock market and financial services, assist enterprises in mobilizing capital and share risks with the banking system.

Meanwhile, the Ministry of Planning and Investment will have to make the most of opportunities brought by the organization of the second summit between the United States and North Korea to attract foreign investment, especially from multinational corporations specializing in the hi-tech sector.

Additionally, the Ministry of Industry and Trade was assigned to deal with loss-making projects.

Also, the Commission for the Management of State Capital at Enterprises must completely address inefficient projects that State-owned enterprises handed over to the commission, especially Vietnam Oil and Gas Group and Vietnam National Coal and Mineral Industries Group.

The prime minister also asked the Ministry of Transport to regularly report on the progress of the HCMC-Trung Luong-My Thuan and My Thuan-Can Tho expressway projects.

Realty firms should issue bonds to raise capital: HoREA

Firm eyes big investment in Danang waste treatment, C.P Vietnam may be impacted by African swine fever, US capital pouring into assembly in Danang, Over 18.8 trillion VND raised from G-bond auctions in February

Sun Avenue, a premium residential project implemented by Novaland. Novaland has been hailed by the HCMC Real Estate Association as a good example of having successfully issued corporate bonds – 

Real estate companies should issue corporate bonds to raise capital, add more property projects and restructure their debts as the State Bank of Vietnam (SBV) has restricted lending to property firms, the HCMC Real Estate Association (HoREA) said.

HoREA, in a notice to its members sent in late February, cited governmental Decree No.163 on the issuance of corporate bonds, which took effect on February 1, pointing out that real estate firms should leverage the new method of capital mobilization due to its feasibility, especially as SBV has gradually limited commercial banks’ lending to the local property market.

HoREA also hailed Novaland, TTC Land and TNR as good examples of companies that have successfully issued corporate bonds. In the near future, Vinhomes is expected to issue bonds as well.

Corporate bonds have attracted increasing numbers of investors as they offer higher interest rates than savings during the same period, particularly among branded bond issuers with feasible business strategies.

With the prevailing legal framework, including Decree No.163, the Enterprise Law and laws related to the stock market and financial institutions, alongside the rising demand for capital among property firms, HoREA said that the corporate bond market would see strong growth in the years to come.

However, real estate firms have to ensure the appropriate use of capital generated from the issuance of corporate bonds and execute manufacturing plans and investment projects effectively to guarantee the benefits of the involved parties, said HoREA.

A corporate bond is a type of stock that matures after at least one year and is issued by corporations to raise capital for wide-ranging reasons, reducing their dependence on financial institutions. Issuers of corporate bonds have to take responsibility for the efficiency of their capital use and their capacity to pay debts.

Rice exports see dropping prices due to declining demand

Vietnam’s rice export sector is seeing lower prices because of falling demand from major markets like China and the Philippines.

The rice prices in the spring-winter crop in the Mekong Delta dropped by VND300 to VND600 per kilo, to VND5,400 (23 US cents) to VND6,500 per kilo. The prices of high-quality rice in Bac Lieu Province have dropped by VND5,100 to VND4,700 per kilo.

In the first two months, the amount of exported rice reached 837,000 tonnes, an increase of 1.1% compared to the same period last year. However, the value decreased by 10.4% to USD364m. The rice prices in January stayed at USD446 per tonne, decreased by 8.2% compared to the previous year.

Rice prices continue to fall because major markets like China and the Philippines haven't announced any import plans for 2019.

Nguyen Quoc Toan, head of Department of Farm Produce Processing and Market Development, said, "The Philippines and Indonesia already imported a huge amount of rice last year and do not have any more import plans. Malaysia is planning to increase rice production by 5% to be less dependent on imports."

It is forecasted that rice exports will continue to face difficulties in March since the Philippines and Indonesia currently don’t have any import plans for 2019.

The Ministry of Agriculture and Rural Development has asked the Ministry of Finance to buy 280,000 tonnes of rice to the national reserve. The prime minister has also asked firms to quickly carry out signed contracts to export 200,000 tonnes or rice to the Philippines and 100,000 tonnes to China this year.

PetroVietnam’s revenue hits 4.8 billion USD in two months

The Vietnam National Oil and Gas Group (PetroVietnam) has reported an estimated revenue  of 111.8 trillion VND (over 4.8 billion USD) in the first two months of 2019, surpassing its target by 8 percent. 

The group said it contributed an estimated of 14.4 trillion VND to the State budget in the reviewed period, exceeding the plan by 2 percent. 

PetroVietnam said its oil and gas output reached 3.85 million tonnes of oil equivalent, 7 percent higher than its target and fulfilling 69 percent of its first-quarter plan.

In the first two months, the firm produced about 3.27 billion kWh of electricity and 280,000 tonnes of nitrogenous fertilizer, and 2.17 million tonnes of petroleum, surpassing the goals by 4.2 percent, 6.7 percent and 7.2 percent, respectively.

To complete its production and business plans in the first quarter and next ones PetroVietnam will continue to keep close watch on oil prices in the world market, thus rolling out solutions to its production and business management. 

It will reasonably coordinate exploitation, export and processing activities to ensure the Government's GDP and State budget revenue expansion, as well as national energy security and its business and production efficiency.

Attention will also be paid to promoting application of science and technology measures in production and business; and synchronously implementing financial solutions from balancing capital sources and cash flows for development investment,and production and business needs, in order to promptly respond to crude oil price fluctuations in the world market this year.

Over 18.8 trillion VND raised from G-bond auctions in February

The State Treasury of Vietnam raised more than 18.8 trillion VND (809.9 million USD) via 10 Government bond (G-bond) auctions on the Hanoi Stock Exchange (HNX) in February, down 48 percent from the previous month.

The interest rates of five-year bonds were 3.63 percent per year; seven-year bonds 4.05 percent, 10-year bonds 4.7 percent, 15-year bonds 5-5.03 percent, 20-year bonds 5.56 percent, and 30-year bonds 5.79 percent.

Compared to January, the rates were down in all terms with the strongest reduction in five-year bonds (0.19 percent), and 10-year bonds (0.14 percent).

On the secondary G-bond market, the total volume of G-bonds sold by the outright method in February reached over 628 million, worth 68 trillion VND, down 10 percent in value month-on-month.

Meanwhile, the trading volume through repurchase agreements (repos) surpassed 759 million, worth over 76.7 trillion VND, down 6.2 percent in value month-on-month.  

Foreign investors made outright purchases of more than 4.1 trillion VND and outright sales of over 3 trillion VND.

US capital pouring into assembly in Danang

us capital pouring into assembly in danang

Downtown Danang will receive trillion dongs of investment in assembly projects from US-based KeyTronicEMS and Universal Alloy Corporation (UAC).

The management boards of Danang Industrial Park and Danang Hi-Tech Park granted investment certificates for KeyTronicEMS to build a VND1.5 trillion ($65.2 million) electronic device assembly plant in Hoa Khanh Industrial Park.

Accordingly, the US investor is planning to start construction in March and finish it by August. The plant’s manufacturing capacity is about 100 million direction indicator lights, mainly for import to the EU and North America markets.

Similarly, UAC, one of three global leading aircraft assemblers, has just confirmed to build a $170 million plant in Danang in March. According to the Office of Danang city, city leaders will grant an investment certificate for the US investor at the city’s Spring Forum.

Once put into operation, the aircraft assembly plant is expected to export 4,000 out of five million airplane components to the EU and North America.

Tien Thinh brings DH Food Vietnamese spices to Australia

The co-operation ceremony between DH Foods and Tien Thinh International Import & Export has marked the official launch of the famous local spice brand in the Australian market.

Taking place in Ho Chi Minh City in February 2019, Tien Thinh officially signed the co-operation agreement providing consultancy and support to export DH Foods’ signature products of salt sauce, dipping sauce, and natural spices to Australia. These products will later be displayed for sale at food fairs and supermarket system in Australia.

The purpose of the agreement is to co-operate and extensively develop brand awareness of DH Foods and Tien Thinh to the public. As a result, both parties are able to enhance the competitiveness of their products in the new market, Australia, to build brand development programmes for both sides in the market and bring optimum benefits to customers.

Stemming from the desire to bring authentic Vietnamese products to Australia, Le Thanh Tung, director of Tien Thinh, has participated throughout the consulting process and constantly supported negotiations from the very first step, which includes making a solid business agreement with partners, bringing high-quality products to meet high-standard requirements in Australia, as well as launching marketing campaigns via supermarket chains in Australia.

He asserted, “I believe that no matter what you do in life, if you truly put all your heart and mind into it, you will eventually see it bear fruit. This is also the endless inspiration that keeps me going on the quest of bringing authentic Vietnamese products to the new market – Australia. I hope that Vietnamese products will be promoted, developed, and positively welcomed by foreign customers, particularly the Vietnamese community living abroad.”

Revealing the upcoming plan, Tung said that he has already come up with a strategy to bring DH Food’s signature products of salt sauce, dipping sauce, and natural spices to the shelves of SHL Supermarket – 49 Cresent Fairfield NSW 2165 in Sydney, Australia.

This promises to provide more options so that customers can be supported on how to use the right spices to create traditional Vietnamese dishes for their daily meals and embark on an Asian culinary journey.

C.P Vietnam may be impacted by African swine fever

cp vietnam may be impacted by african swine fever

As one of the leading pork processing facilities with numerous pig growing farms, C.P Vietnam Corporation may suffer losses due to the fast expansion of African swine fever in northern cities and provinces in Vietnam, threatening its pork products being ostracised due to fear of the fever.

African swine fever has been detected in numerous countries across the globe

According to statistics from the Ministry of Agriculture and Rural Development (MARD), as of March 1, African swine fever (ASF) had been found in 20 communes of 13 districts in six cities and provinces, including Hung Yen, Thai Binh, Thanh Hoa, Ha Nam, Haiphong, and Hanoi. The total number of pigs culled was nearly 2,350, with estimated losses of tens of billions of dong.

The spreading of the fever will impact the operations of pork processors. C.P Vietnam Corporation owns numerous large-scale pig farms in these areas.

As of the end of 2018, C.P pig farms had an average of 2,400 sows and 12,000 pigs. One of largest pig farms of the company is located in Hoa Binh province, which is quite close to Hanoi. Thus, if the company does not put effective prevention solutions in place, it will suffer massive losses once the fever reaches the province.

As foreseen, the company will likely suffer losses even with proper preventative measures as people turn away from pork for the duration of the epidemic.

At present, the Ministry of Agriculture and Rural Development is still urging localities at border areas to tighten control on trading, slaughtering, and transporting pigs and pork products to prevent further outbreaks of the disease.

Along with the efforts to prevent the spreading of the fever in the country, the MARD has decided to suspend pork imports and ready-to-eat pork from Hungary and Poland because these two countries are also impacted by ASF.

According to the World Organisation for Animal Health (OIE), ASF is a highly contagious virus that causes an often fatal disease in pigs and wild boars. The disease is similar to classical swine fever, although they are caused by different viruses. Both diseases only affect pigs. People are not affected by African swine fever or classical swine fever.

The OIE estimates that since early 2017, as many as 20 countries have reported infections of ASF, with more than one million pigs culled.

CBRE Vietnam open 360 degree office in Vietnam

After 16 years of joining and developing with the Vietnamese real estate market, CBRE Vietnam has recently marked a memorable milestone by introducing a totally new look for its main office in Ho Chi Minh City.

CBRE Vietnam’s new office is designed with the open office concept, which focuses on providing a modern, comfortable, and flexible space. The renewed office has an open workspace with low desks for staff to freely choose the seats where they feel most comfortable.

There are also specifically-designed small corners with bean-bag chairs and sofas for employees to work and discuss instead of having to use traditional meeting rooms. The cafeteria, a relaxing place for the staff, including a dining and entertainment area to help create a sense of balance at work, is connected to the workplace. The transition to an open office model has created cohesion, co-operation between the departments and the board of directors while building a more friendly, dynamic, creative, and efficient working environment.

According to Dang Phuong Hang, general director of CBRE Vietnam, after more than 16 years of development, CBRE Vietnam has become a home to more than 1,100 employees.

“We decided to invest in the open office model and the most advanced technology system, giving all of our staff a more dynamic working environment. When the walls are no longer barriers, when our staffs can actively choose seats every day and are always comfortable in the office environment, they will be able to work to the best of their ability and achieve further success,” Hang said at the opening ceremony.

Besides, CBRE Vietnam’s office is also equipped with amenities for relaxation purposes such as coffee makers, refrigerators, televisions, and even some board games such as table football, darts, and corners for staff to find inspiration and recharge after stressful working hours. The transition to the open office model has created cohesion and a more dynamic working culture for all of the company.

CBRE is one of the most popular real estate brands in the world and receives high confidence vote from domestic and international real estate investors. Founded in 1906 in the city of Los Angeles, California, USA, through more than a hundred years of development, CBRE is now present in more than 100 countries worldwide with more than 450 offices and branches in many big cities and more than 80,000 employees.

Firm eyes big investment in Danang waste treatment  

Dai Nam Group wants to invest VND10 trillion (USD434.7 million) into waste treatment projects in the central city of Danang.

The information was disclosed by group chairman Huynh Uy Dung at an investment seminar in Danang on Friday.

According to Dung, he plans an investment of VND10 trillion on waste treatment projects in different localities nationwide; but Danang will receive the lion's share of the investment.

The group will apply micro-organism technology in the projects. The technology has been first piloted in a project in the southern province of Binh Duong, bringing positive results.

He added that his firm wanted to choose Danang as municipal authorities issued strategic goals to turn the locality into a friendly-environmental city with potential for tourism development.

“We have surveyed Danang's drainage system and know why the city is facing waste treatment problems. We hope to help the wastewater into clean water so that visitors can swim at any of the city's beaches,” Dung highlighted.

5-star hotel InterContinental Hanoi Westlake sold to Vietnamese firm

Malaysia-based Berjaya Group has sold its 75 percent stake in the five-star InterContinental Hanoi Westlake hotel to Hanoi Hotel Tourism Development Company JSC.

Berjaya said the deal was worth VND1.24 trillion ($53.6 million).

The hotel has one of the best locations in Hanoi, being built right on top of the West Lake and close to the capital city's Old Quarter.

Berjaya Group, a conglomerate with interests in consumer marketing, property development, investment, hotels, resorts, and amusement facilities, owned its stake indirectly through T.P.C. Nghi Tam Village JSC (Nghi Tam Village).

It owned 75 percent of Nghi Tam, while the remaining 25 percent is owned by construction and furniture company Thang Long GTC.

Hanoi Hotel Tourism Development was established last October with a charter capital of VND658 billion ($28.35 million).

The $53.6 million value of the sale was worth three times Berjaya's initial investment.

Berjaya Group currently holds a 50 percent stake in another five-star hotel, Sheraton Hanoi Hotel, and owns 70 percent of Long Beach Resort Phu Quoc in Phu Quoc, Vietnam's biggest island off the central coast.


Firm eyes big investment in Danang waste treatment, C.P Vietnam may be impacted by African swine fever, US capital pouring into assembly in Danang, Over 18.8 trillion VND raised from G-bond auctions in February
 
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