The International Tourism Fair was held in HCMC last September by the tourism ministry and the city. Originally meant to attract visitors to the country, the fair, over the last 14 years, has instead become a place for foreign tourism agencies to find outbound Vietnamese tourists. At Japan and South Korea's tourism booths, guests get to try on traditional costumes. The Japanese booth was the biggest one this year. It and those of Taiwan, Hong Kong and South Korea dazzled with their modern design and eye-catching images that drew visitors like a magnet. The Cambodian booth had an idol of a four-sided god and a full-sized replica of a temple, and entertained visitors with non-stop music and dance performances. The Vietnam National Administration of Tourism's (VNAT) booth on the other hand barely distinguished itself from last year with the agency thinking large photos of tourist attractions would suffice. Meagre tourism promotion budget At many meetings, VNAT leaders said the … [Read more...] about Vietnam tourism hamstrung by lack of funds for marketing
Markets
Vietnam’s car rental market potential remains huge: Enterprise Rent-A-Car
The Hanoitimes - Vietnam is an increasingly important business destination and access to high end transport has been an untapped market potential. A representative of Enterprise Rent-A-Car Vietnam said the country’s rental car market remains huge but the service is inadequate, citing it as a reason for the US largest car rental provider Enterprise Holding to open its business in Vietnam. Illustrative photo. The representative told local media that the Vietnamese market is on the rise, thanks to strong growth momentum of foreign direct investment in at least 10 years, leading to an increasing influx of expats. Moreover, Vietnam’s middle class, especially the young generation has new lifestyle, for which they now focus on the quality of life and experience by renting a car, instead of spending a fortune to buy a luxury car. On November 29, Enterprise Holding announced that its Enterprise Rent-A-Car brand is now available for the first time in … [Read more...] about Vietnam’s car rental market potential remains huge: Enterprise Rent-A-Car
Foreign investment warms up share race in Vietnam’s stock market
The Hanoitimes - The pressure for domestic securities companies will increase along with the expansion of foreign-owned securities ones. Foreign finance groups have recently poured trillions of Vietnamese dong into their securities subsidiaries in Vietnam, helping them enlarge market share rapidly and become big players in the local market. Foreign securities expect to join the local fruitful derivatives market Backed up by huge financial resources and specific customer segments supported by parent groups, foreign securities companies in Vietnam such as Mirae Asset, Maybank Kim Eng, KIS Vietnam, KB Vietnam and Yuanta, are emerging as redoubtable competitors of local securities brokers. Recently, Mirae Asset, which has been one of the first fully foreign-owned securities companies set up in Vietnam in 2007, has for the first time entered the top 10 securities companies in terms of market share on the Ho Chi Minh City Stock Exchange (HoSE) in the second quarter of this … [Read more...] about Foreign investment warms up share race in Vietnam’s stock market
Vietnam Airlines eyes stock market listing in 2019
"Vietnam Airlines will go public in the first quarter of next year," its chief executive, Duong Tri Thanh, told the Financial Times. "We are making our target the first quarter of next year, and I think it is feasible." But he admitted the final decision rests with the government. The carrier’s shares are traded on Hanoi’s Unlisted Public Company Market (UPCoM) and it has a market capitalization of more than $2 billion. The government currently owns around 86 percent of Vietnam Airlines, but has said it wants to reduce this to 51 percent by 2020. The country’s largest airline by passengers carried now faces rising competition from budget carrier VietJet Aviation and others. Last month Vietjet became the second most valuable airline in Southeast Asia by market cap behind only Singapore Airlines. With the domestic market showing signs of saturation, Vietnam Airlines seeks to expand overseas. In October it started a daily service from central Da Nang City to Osaka … [Read more...] about Vietnam Airlines eyes stock market listing in 2019
Russian helicopter producer eyes bigger ASEAN market share
A Mi-171A2 helicopter by Russian Helicopters. (Photo: TASS/VNA) Hanoi (VNA) – Russian Helicopters, a Moscow-based helicopter design and manufacturing company, sets a goal to increase its market share of civilian helicopters in the Association of Southeast Asian Nations (ASEAN). Russian Helicopters, part of the Rostec State Corporation, has introduced two models – Ansat and Mi-171A2 – near Kuala Lumpur International Airport in Malaysia during the company’s Southeast Asia helicopter tour. The company intends to raise its current 2-percent market share of civil helicopters to between 5 – 7 percent in the next five years, said CEO Andrey Boginsky. The firm is looking at delivering up to 15 helicopters to Malaysia in the next three years, he said, adding that it receives genuine interest from emergency, search and rescue, and firefighting agencies, particularly amidst recent disaster relief in Indonesia and other countries. He noted that demand for … [Read more...] about Russian helicopter producer eyes bigger ASEAN market share