The United States is the largest market for Vietnam’s exports in the first five months of this year, generating an export revenue of US$22.6 billion, up 28% year-on-year. Some exports with the highest growth are smart phones and parts, with 109.2%; electronics, computers and parts 58.4%; and textiles and garments 9.8%. (Photo: Saigon Times) Under the impact of the U.S.-China trade war, Chinese goods are subject to high U.S. tariffs, leaving room for enterprises from other countries, including Vietnam, to penetrate the U.S. market. At present, Chinese leather products, shoes and handbags are not yet put in the group of commodities subject to a 25% U.S. tariff. However, Diep Thanh Kiet, vice chairman of the Vietnam Leather, Shoe and Handbag Association (Lefaso), said many big international footwear companies have contacted Lefaso members for a shift of U.S.-bound orders from China. Vietnam currently exports US$4 billion worth of footwear to the U.S. after China, with … [Read more...] about Potential risks for exports to U.S.
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Vietjet Air's stewardess serves passengers during its flight (Photo: Vietjet Air) Hanoi (VNA) - Vietjet Aviation Joint Stock Company has announced its audited financial statements of 2018, which exceeded its annual plan. Accordingly, 2018 continued to be a year of high and sustainable growth of the new aged carrier Vietjet. Audited business results of 2018 showed its total revenue of 53.57 trillion VND (2.3 billion USD) and 5.81 trillion VND (250.5 million USD) in profit before tax. When listing at the beginning of 2017, Vietjet set its growth plan for three years (2017-2018-2019) with the profit after tax target of 2017 and 2018 reaching 7.8 trillion VND (336.3 million USD). The results exceeded expectations when the new aged carrier achieved 10.4 trillion VND profit after tax only in two years. Vietjet also maintains the ratio of dividend payout at 50 percent per year, including shares and cash dividends as committed upon listing. In 2018, with positive business results, … [Read more...] about Vietjet’s core business rises 49 percent in 2018
After being fully acquired by Masan, Vietnam National Coffee Corporation (Vinacafe) reported high profit, while Trung Nguyen is in conflict. Apart from instant coffee, Vinacafé is making a landfall in energy drinks, too Vinacafé published its financial report for 2018, showing positive revenue movements. Accordingly, the company accumulated a revenue of VND3.45 trillion ($150 million), up 6 per cent compared to 2017 ($145.22 million). Notably, pre-tax profit surged by 70 per cent, from VND453 billion ($19.7 million) in 2017 to VND776.8 billion ($33.77 million) in 2018. The main reason for this sudden growth may have been the cost of sales. Thanks to Masan Beverage, Vinacafé seems to have found a way to develop. Previously, Masan Group in December 2018 announced that its wholly-owned subsidiary Masan Beverage Co., Ltd. launched a tender offer to acquire all of the shares in Vinacafé. Since then, Vinacafé said that the firm changed from … [Read more...] about Vinacafé reports high profit for 2018
Industrial zones (IZs) and economic zones (EZs) operating in the country lured more than US$8.3 billion in investment in 2018, a report from the Ministry of Planning and Investment’s Department of Economic Zone Management revealed. Of the sum, $5.3 billion came from 560 newly-licensed projects while the remainder was contributed by 500 existing projects raising their levels of capital. The latest addition had brought the investment registered in these zones as of last year up to $187 billion, with VND970 trillion ($41.6 billion) from 7,500 domestically-invested projects and more than $145 billion from 8,000 foreign-invested ones. The occupancy rate of operational IZs across the nation hit 73 per cent in 2018, according to the report. As of the end of 2018, the country had 17 coastal EZs established on a total land and water area of over 845,000ha. In addition, plans have been outlined to build the Nhan Co EZ in the northern province of Nam Dinh. Currently, there are 326 IZs … [Read more...] about IZs, EZs attract $8.3 billion in 2018
The products brought to this year’s fair by the delegation of Vietnam are very diverse, including honey, cashew nuts, pepper, vegetables, rice and rice products. Attending the fair, Vietnamese businesses not only present products, but also connect with European food and beverage distributors. At this year’s fair, the delegation of Vietnamese enterprises will especially focus on introducing organic products. The delegation also includes many enterprises interested in exporting organic products. The Sial Paris International Food Fair 2018 is the world's leading gathering of more than 7,000 businesses from 109 countries active in the food industry. The event was organised at the Paris Nord Villepinte, in Paris. The fair attracts 155,000 visitors per year from nearly 200 countries around the world. The fair offers a great opportunity for Vietnamese businesses to introduce their products to food distributors, companies and businesses operating in the hospitality industry around … [Read more...] about Vietnam attends Sial Paris international food fair 2018