Viet Nam News HCM CITY — Global footwear brands like Adidas, Nike and Puma are increasingly turning to Việt Nam for their manufacturing needs due to its affordable labour costs and free trade agreements. Kasper Rorsted, general director of Adidas, said that Việt Nam produced 44 per cent of its output in 2017, while China, which used to be its biggest manufacturer, only made 19 per cent. The German company expects that production will continue to shift from China to Việt Nam, and that Việt Nam will produce more than half of Adidas footwear by the end of 2019. According to a source from Nike, the company began investing more in Việt Nam around five to seven years ago due to the reasonable labour cost and now accounts for almost half of Việt Nam’s total footwear exports. For Puma, the company also has 30 per cent of its products made in Việt Nam, and plans to do more business here if the US hikes taxes on Chinese footwear and … [Read more...] about Footwear giants flock to produce in Việt Nam
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Dumping duty on Viet Nam shoes draws fire
Dumping duty on Viet Nam shoes draws fire (11-11-2009) HA NOI — If the EU extends anti-dumping duties against footwear from Viet Nam and China, it will put Europe’s commercial relations with both countries at risk in the long term, warned British First Secretary of State Peter Mandelson. Mandelson told The Financial Times that there was no evidence that the alleged dumping was hurting European manufacturers, which had seen a recovery in their market share, or that consumers were being harmed, so there was no longer any justification for the duties. Anti-dumping duties on footwear had created a division within the EU since first applied to limit low-price imports from China and Viet Nam, allegedly eating into the market share of small European manufacturers, particularly in Italy and Spain, explained Mandelson, who initiated the measure in 2006 when he was EU trade commissioner. Tariffs of 16.5 per cent on Chinese imports and 10 per cent on Vietnamese imports were set for … [Read more...] about Dumping duty on Viet Nam shoes draws fire
BUSINESS IN BRIEF 24/7
Major city CPIs rocket on soaring fuel increases Consumer price indices in the two largest cities have hit their highest levels in five months, driven by last month's petrol price hike, General Statistics figures show. July's CPI in Ha Noi rose 0.22 per cent over June and in HCM City, 0.17 per cent. In the capital, prices of all 11 CPI goods increased, of which transport costs rose the most (115 per cent). The General Statistics Office said July's transport price rise followed a decision to allow petrol prices to go up VND420-430 per litre and diesel, VND220 on June 16. Another rise of VND420-470 per litre for gasoline, diesel and kerosene made on July 17 will impact on following months, the office noted, estimating that the petrol price hike could add 0.15 per cent to August's CPI. July's prices of housing, power, fuel and construction materials in Ha Noi saw a rise of 0.66 per cent against last month in the wake of the petrol price hike. With this month's rise, the capital's CPI was … [Read more...] about BUSINESS IN BRIEF 24/7
Green beginnings for kids in Dong Nai Province
Viet Nam News Children of factory workers in in Biên Hòa City have a wonderful place to play. It is a nursery school that has a vegetable garden where they also learn about growing food. The nursery school's building even has a vegetable garden on its roof. This keeps the building cool. HÀ NỘI - Farming Kindergarten, designed by Võ Trọng Nghĩa Architecture Company, has been listed as one of the top 30 architectural designs in terms of aesthetics. The building was nominated by the Royal Institute of British Architects (RIBA). Located in Biên Hòa City in the southern province of Đồng Nai, Farming Kindergarten educates 500 children of low-income factory workers employed at an adjacent shoe factory owned by the Pou Chen Corporation, which makes footwear for the likes of Nike, Adidas and Reebok. The project was designed by architects Võ Trọng Nghĩa, Trần Thị Hằng, Kuniko Onishi, Takashi Niwa and Masaaki Iwamoto. The two-storey building was built with a fixed budget of some US$500 … [Read more...] about Green beginnings for kids in Dong Nai Province
VN, South Korea seek stronger partnership
A number of discussions and proposals were presented at the Maekyung Korea-Viet Nam Forum on Wednesday in Ha Noi, as part of activities to celebrate the 25th anniversary of diplomatic ties between Viet Nam and the Republic of Korea.Speaking at the forum, Vietnamese Deputy Prime Minister Trinh Dinh Dung applauded the impressive development of the two countries’ relations in all areas, especially in economy, trade, investment and ODA co-operation, over the past 25 years.South Korea is now the largest foreign investor in Viet Nam with total foreign direct investment (FDI) value topping nearly US$60 billion, accounting for 18 per cent of Viet Nam’s total FDI.Korea is also Viet Nam’s third biggest trading partner with two-way trade volume estimated at about $60 billion by the end of this year, up 33 per cent over 2016’s $45.1 billion and a 120-fold increase over the $500 million recorded in 1992 when the two countries first established diplomatic ties.To develop … [Read more...] about VN, South Korea seek stronger partnership