VietNamNet Bridge - A high number of consignments to the US have been refused this year because Vietnamese exporters were unaware of new regulations set by the US. Vietnam is one of the US’S 15 largest agricultural trade partners. In 2016, the exports of fish, shrimp and crab to the market alone brought $1.4 billion. However, it is becoming more and more difficult to export farm produce to the market because of new regulations in FSMA (Food Safety Modernization Act). Meanwhile, Vietnamese businesses lack information about the law. Recently, 679 exporters, mostly food companies, have lost export licenses to the US because they did not re-register with the agency as required, or they re-registered but didn’t follow the required current procedures. The Vietnamese commercial affairs division under the Vietnam Embassy in the US told Vietnamese food exporters to check business codes with FDA before shipping goods to the US. However, many enterprises did not know … [Read more...]
Vietnam exports more processed products to the US
The Ben Tre Import/Export JSC (Betrimex), for example, has been exporting coconuts to China for many years. However, Tran Van Duc, Betrimex’s general director, said the exports are unstable and the export value is low. In an effort to increase the value of Vietnam’s coconuts, Betrimex in 2015 decided to spend US$20 million to build a factory making coconut milk for export to the US and the EU, two promising markets. “We utilize UHT technology which allows us to better preserve the flavor of coconut and there is no need to use any preservative,” he said. Nguyen Lam Vien, general director of Vinamit, a dried fruit maker, said Vinamit has been targeting the US market for a long time as he realized that there were latent risks in the Chinese market. “We survey the US market every year, and attend trade fairs in the US. Vinamit’s products are sold in the US, mostly targeting Vietnamese consumers in the country,” Vien said, adding that selling … [Read more...]
Brokerages develop new products to woo investors
Securities firms are rushing to upgrade infrastructure and develop new products to woo as many investors as possible. Sai Gon-Hanoi Securities Company (SHS) has launched fee bonuses in its newly built HCM City branch over the last two months as part of its strategy to lure more investors. The company will focus on promoting consultancy services by launching daily online meetings between the headquarters and its branches to overview market happenings, said the company's director Nguyen Quang Vinh. With the daily overview, it will set up a list of promising investment portfolios to provide information for clients, Vinh said. Meanwhile, SME Securities said it will direct its development as an investment bank. Other companies like FPT Securities and VNDirect Securities are keen on developing new market driven products and services. For example, both companies have launched mobile trading services for investors interested in making transactions over their mobile phones. "Investors … [Read more...]
Red Dragon: Delivering Safe, Fresh Produce to the Market
Red Dragon: Delivering Safe, Fresh Produce to the Market In early 2010, although the global market continued to contract, Vietnamese fruit exporters, including Red Dragon Co., Ltd, achieved remarkable successes thanks to proper solutions. This is a worthy reward for the company’s tireless efforts, from Red Dragon’s management board to employees. Red Dragon Co., ltd, established in January 2007, initially supplied fresh dragon fruit to Netherlands and Thailand. In spite of a newcomer on the market, the company strictly complies with quality requirements and the Red Dragon brand name has become popular with foreign buyers. Red Dragon’s fresh produce have made presence in most major markets throughout the world. In addition to continuously improving quality management system, expanding production scales and storage facilities and renovating equipment and technology to boost up output and productivity, Red Dragon also put a premium on heightening the quality of … [Read more...]
Continental tires to introduce new product to Vietnam market
The new product, Continental ContimaxContact MC5, possesses special traits that are suitable with SEA’s as well as Vietnam’s heavy rainfall and hot, humid climate.The new tire inherits the essence of high-performance tires. ContiMaxContact MC5 is capable of providing smooth and comfortable driving in any weather and road condition.With specially designed treads, ContiMaxContact MC5’s deform is reduced to the minimum level for the best handling and cornering.ContiMaxContact MC5 can meet aesthetic criteria for wheels of different size while also able to provide comfort and smoothness with the Conti Silent Tread Pattern Groove technology.As ContiMaxContact MC5 is designed with special traits that are suitable with SEA’s heavy rainfall and hot, humid climate, its stopping distance is shorter than that of its rivals.ContiMaxContact MC5’s asymmetrical tread helps improve traction on wet roads thanks to its ability to remove water efficiently. Advanced Silica … [Read more...]
Samsung unveils new product in Apple offensive
Locked in a fierce battle in the smartphone market, South Korean giant Samsung unveils its latest device aimed at challenging Apple in its home market. The Galaxy S4, set to be unveiled at New York's Radio City Music Hall on Thursday, has been generating buzz worthy of the iPhone, as the two firms fight for leadership in smartphones in the US and global markets. Samsung has released no details about the device, but it is widely expected to be an upgraded, slightly larger version of its Galaxy S3, with some new bells and whistles. According to The New York Times and some other media, the S4 will be able to respond to eye movements with an enhanced interface, and will offer an improved display. Samsung has released a series of videos on the Internet and has hired dancers to promote Thursday's event with street performances in Times Square, complete with a sign that reads, "Be Ready 4 The Next Galaxy." Samsung has become the top smartphone maker worldwide with a 29 percent market share, … [Read more...]
Local retailers must sell superior products to dominate market
Viet Nam News HÀ NỘI - Vietnamese producers must improve product quality and make the most of their advantages so that imported goods don't take over the market, the Vietnam Chamber of Commerce and Industry said. Currently, the chances of imported goods taking over the market are low. Foreign retailers in Việt Nam are fighting for market share within modern retail models, while domestic retailers continue to dominate traditional retail mediums, Nguyễn Thị Thu Trang, Director of the World Trade Organisation Centre of the Vietnam Chamber of Commerce and Industry, said. Modern retail models such as shopping malls, supermarkets and convenience stores, which largely incorporate mixed-use retailing, account for 25 to 30 per cent of the Vietnamese retail market, whereas 70 to 75 per cent are traditional retail models such as wet markets, box stores and grocery stores. The main supply source for domestic retailers is local producers, who have advantages such as lower logistical cost … [Read more...]
Jewellers make new products to meet surging Tet demand
People choose jewellery products at a gold store in HCM City. Gold shops in HCM City expect to make big profits over the holiday. — VNA/VNS Photo Hoang Hai HCM CITY (Biz Hub) — Gold shops in HCM City are stocking many kinds of original products and hope to make big profits on them during Tet. On February 9 the Sai Gon Jewellery Company (SJC) unveiled a series of products like a statue of the God of Wealth, 12 animals of the zodiac and goat head-shaped rings, each weighing from a 10th of a tael to a tael. They all have designated 3D viewing angles that make them look very sophisticated. Earlier, Bao Tin Minh Chau Jewellery Company had introduced a collection of gold coins associated with the shapes of the 12 animals of the zodiac. The coins weigh only a 20th of a tael, a 10th or a fifth and so are easy to be displayed or given as "lucky money." To meet the demand for original gold products for gifting during the Lunar New Year, the company has also produced gift items … [Read more...]
Exporters urged to take new approach to Cambodian market
Though Cambodia is a potential market for Vietnamese companies, it poses several restrictions for entry, heard a business matching Viet Nam – Cambodia info session organised in HCM City on Saturday. The session focused on how to approach the market, which Vietnamese exporters in the past viewed as an easy market to penetrate. — Photo hochiminhcity.gov.vn HCM CITY (Biz Hub) — Though Cambodia is a potential market for Vietnamese companies, it poses several restrictions for entry, heard a business matching Viet Nam – Cambodia info session organised in HCM City on Saturday. The session focused on how to approach the market, which Vietnamese exporters in the past viewed as an easy market to penetrate. "Do not have such high expectations about the market," Tran Ngoc Khanh, office manager of the Bee Logistics Corporation in Phnom Penh City, told seminar attendees. Khanh, who has more than three years of experience in doing business in Cambodia, said that … [Read more...]
PAN Food launches new product in Vietnamese market
HCM CITY (Biz Hub) — PAN Food Joint Stock Company late last week introduced a new product of probiotics gummy HURO to the Vietnamese market. This is the first time a gummy candy contains probiotics with the UK patented spore technology, strengthening the digestive system and immune system of Vietnamese children, the company said. HURO is a product that is beneficial to the human digestive and immune systems. Particularly, its contains HU58 Bacillus Subtilis, isolated and selected by Professor Simon Cutting, Royal Holloway, University of London, UK. HU58 is a break-through innovation in the world's microbiology field, bringing about the real-life application of probiotics. Also during the launching event, a discussion forum with the topic of "How to take care for the digestive and immune system for children" received much attention from the audience. At the discussion, the nutrient professionals and guest speakers shared many scientific research findings and insights regarding … [Read more...]