VietNamNet Bridge - A number of large corporations have adapted well to the 4.0 era, but the majority of small businesses are lagging behind. Vietnamese manufacturers have been preparing for the 4.0 industry revolution The 4.0 revolution with application of IoT (Internet of Things), big data, data analysis and virtual reality technology is used in the beverage manufacturing industry. Nguyen Van Phi Van from Tetra Pak Vietnam said that high tech is used to control every details of production line, the entire production line, and the whole factory, and to connect all factories of the same system at the highest level. The company where Van works supplies cans, cartons and machines to most beverage companies in Vietnam. A number of large corporations have adapted well to the 4.0 era, but the majority of small businesses are lagging behind. Jeffrey Fielkow, CEO of Tetra Pak Vietnam, said some of his clients have made heavy investments in technology solutions. One company plans … [Read more...] about Small businesses lag behind in preparations for 4.0 era
State of small business report
Small businesses upbeat on trade in Asia Pacific
Small businesses upbeat on trade in Asia Pacific (04-06-2009) HCM CITY — A majority of small businesses in Viet Nam expect the global economy to improve over the next few months, with more than a half (54 per cent) anticipating an increase in trade volumes. This is among the findings of the Trade Confidence Index survey by the Hong Kong and Shanghai Banking Corporation in the Asia Pacific region. Launched by HSBC last March, it is the first of its kind conducted to determine business confidence among small and medium-sized enterprises (SMEs) engaged in cross-border import or export activities. In Viet Nam, 300 SMEs – defined as companies with an annual turnover of less than US$10 million – across import/export traders, manufacturing, wholesale, retail, and construction industries participated in the survey. Over 1,800 trade-oriented SMEs and mid-market businesses in Australia, Hong Kong, India, mainland China, Singapore, and the UAE also gave their three-month outlook … [Read more...] about Small businesses upbeat on trade in Asia Pacific
Vietnamese small businesses cannot grow up
VietNamNet Bridge – Vietnam lacks the medium size businesses which can act as the bridge connecting enterprises and join the global supply chain. The recently released report of the Central Institute for Economic Management (CIEM) showed that in 2009-2011, only 31 small and tiny enterprises grew up into medium scaled enterprises, while 133 small and medium enterprises turned into small and tiny ones. The conclusion has been made after the institute conducted a survey on 1999 small businesses. The Vietnam Chamber of Commerce and Industry (VCCI) has released the 2012 annual business report which shows that over the last 10 years, a lot of new businesses were set up, but then died prematurely. About 700,000 businesses have been set up, but only 300,000 had been found operational by early 2013. Economists, while noting the increasingly high number of tiny businesses in recent years, have warned that Vietnam lacks the medium sized enterprises which play a very important role … [Read more...] about Vietnamese small businesses cannot grow up
Wholesale, retail trade attractive to small businesses
Wholesale, retail trade attractive to small businessesTu Hoang By Tu Hoang - The Saigon Times Daily HANOI - Wholesale and retail trade accounted for 39.8% of total active micro, small, and medium enterprises (MSMEs) in Vietnam as shown in a report released by the Asian Development Bank (ADB) last week. The proportions were 20.5% for the service sector and 15.7% for the manufacturing sector, according to the Asia SME Finance Monitor 2014 report covering 20 developing countries in Asia. The report said Vietnam had had a total of 359,794 MSMEs as of the end of 2013, making up 96.4% of total enterprises in the country. MSMEs employed 5.1 million workers, or 46.8% of Vietnam’s workforce. Privately owned firms account for 97.2% of the total in Vietnam, foreign-invested companies for 2.7% and state-owned enterprises the remainder. According to the report, regional integration and trade offers opportunities for smaller firms to explore offshore markets but also expose them to … [Read more...] about Wholesale, retail trade attractive to small businesses
International crisis still haunts Vietnam’s small businesses
Vietnam's small-and medium-sized enterprises (SMEs) are struggling more than they were two years ago due to across-the-board drops in productivity, job generation, and investment, according to recent survey results. Around 70 percent of respondents to a survey conducted by the Central Institute for Economic Management (CIEM), the Institute of Labor Science and Social Affairs, and the University of Copenhagen stated that the 2007-2008 international crisis continued to haunt their businesses in 2013. Only 15 percent reported feeling no effects, according to the poll of 2,500 SMEs operating in 10 cities and provinces. “The international crisis and the business environment appear to have worsened from the enterprises' point of view,” said Nguyen Dinh Cung, directot of CIEM. A shortage of loans was cited as the most serious problem for enterprises in both 2011 and 2013. However, the survey showed a decline in proportion of firms experiencing this kind of challenge from 45 … [Read more...] about International crisis still haunts Vietnam’s small businesses