VietNamNet Bridge - After concluding successful transactions, large conglomerates now have trillions of dong in their coffers. And they have to think about how to use the money. FPT Group of Truong Gia Binh, one of the richest stock billionaires, has wrapped up the sale of a 47 percent stake in FPT Trading, a subsidiary of FPT, to Synnex Technology International Corporation. FPT earned nearly VND1 trillion from selling a part of its retail company to a leading global technology, telecommunication and electronics distribution group. Sinnex is known as the world’s third largest conglomerate in the field with revenue of tens of billions of dollars, while FPT Trading is the largest ICT product distributor in Vietnam with 40 percent of market share. Prior to that, FPT also sold a 30 percent stake in FPT Retail to Dragon Capital and VinaCapital and earned nearly VND1 trillion. FPT share prices increased sharply after FPT got big money. In 2014, Kinh Do Group (KDC) sold its … [Read more...] about Businesses with extra cash: what to do with all of it?
Business
E-commerce: narrow door for Vietnamese businesses
As in previous years, Lazada Vietnam was the first online shopping website to start the year-end shopping season. It offered sharp price discount rates for 15,000 products in a sale promotion campaign on November 9-11. All the orders with weight of less than 6 kilograms were delivered free of charge on those days. Lazada Vietnam also has put four new order processing centers into operation to ease congestion. However, the most attractive feature is the 50% discount rate for sellers on the platform. Analysts said the moves by Lazada aimed to cope with the strong rise from Shopee Vietnam. Though Shopee Vietnam only joined the market two years ago, it has been growing rapidly with many policies to support sellers and retailers. It delivers goods to buyers for free, and helps sellers train in sales and customer-care skills. In the past, Shopee Vietnam was a C2C platform, but it has opened the Shopee Mall service to attract businesses with good brands. Shopee Vietnam … [Read more...] about E-commerce: narrow door for Vietnamese businesses
PM pledges business-friendly conditions for Korean investors
HÀ NỘI — The Vietnamese Government is commited to creating favourable conditions for domestic and foreign investors, including those from the Republic of Korea (RoK), to expand business operations in the country, Prime Minister Nguyễn Xuân Phúc said on Tuesday. Receiving Chang Dae-Whan, Chairman of the RoK-based Maekyung Media Group, in Hà Nội, he lauded the co-ordination between Maekyung and the Vietnam Chamber of Commerce and Industry (VCCI) in organising the Việt Nam-RoK economic forum marking the 25th anniversary of diplomatic relations between the two countries. Việt Nam wants RoK groups to develop manufacturing hubs in different fields such as electronics and auto components in the country, he said, adding that investors should ensure environmental standards in doing so. He suggested that as a major communications group in the RoK, Maekyung should disseminate more information so as to encourage Korean enterprises to invest … [Read more...] about PM pledges business-friendly conditions for Korean investors
Enabling business opportunities in hotels and resorts across Asia-Pacific
“Over the last few years, there has been an impeccable growth in the tourism sector across the entire globe. The Asia-Pacific remains the fastest growing region in the tourism industry on the planet, with a consistent pace of development. With a lot of emerging economies, this region creates tremendous unexplored business opportunities,” said Ahmed Mobashshir, director of Bricsa Consulting, the organiser of this conference.The conference focuses on creating a dynamic platform for hotel and resort owners, developers, contractors, and public sector stakeholders to not only explore business opportunities in the Asia-Pacific region but also get updated on key market trends in the hospitality industry across the globe and ways in which they can tackle the diversifying market.It also connects government authorities as well as major hotel developers and solution providers to discuss and debate best practices which can be instrumental in maximising the overall growth across … [Read more...] about Enabling business opportunities in hotels and resorts across Asia-Pacific
MPI proposes removing conditions for 21 business sectors
HÀ NỘI — The Ministry of Planning and Investment has proposed to remove conditions imposed on 21 business sectors, including rice export, logistics and debt trading service. According to the ministry, the sectors should be removed from the list of conditional business lines as they do not meet the requirements of Clause 1, Article 7 of the Law on Investment, which means they do not affect national defence and security, social order, social morality and health of the community. In a report to assess the impact of this proposal, the ministry said the removal would create favourable conditions for management as unfeasible business conditions in the sectors will be abolished. Besides this, the cut of unnecessary State management activities will help streamline the State management system and reduce budget expenditure. In particular, the proposal, if being approved, will reduce administrative procedures and create favourable conditions for investment and … [Read more...] about MPI proposes removing conditions for 21 business sectors