This figure was reported by the Supporting Industry Enterprise Development Centre (SIDEC) under the Industrial Policy and Strategy Institute (IPSI), Ministry of Industry and Trade, in a survey released at the Workshop on Connectivity in Electronics Industry Development in Vietnam hosted by the Central Institute for Economic Management (CIEM) in Hanoi on November 28. 95 per cent of electronics exports come from FDI firms However, 95 per cent of electronics export value is contributed by FDI enterprises. In 2016, mobile phone and parts exports valued at more than US$34 billion, 99.8 per cent of which came from FDI enterprises. In 2017, the value is expected to exceed US$70 billion but this reality will not change. This shows that the role of domestic enterprises is very weak. According to the Supporting Industry Enterprise Development Centre, most domestic companies primarily undertake assembly, supply of services and simple parts like mechanical, plastic and rubber … [Read more...] about Electronics Industry: Imports Make up 77 Pct of Product Value
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Export value in 11 months exceeds yearly target
Photo: VGP/Thuy Dung The figure exceeded the export target set for the year of earning US$188 billion. The export values of the State and Foreign Direct Investment (FDI) sectors reached US$53.09 billion and US$140.66 billion, witnessing respective growths of 16.8% and 22.8%. As of November 2017, the nation’s total import turnover was estimated at US$191 billion, including US$170.63 billion for necessary import items, up 22.2% and US$11.16 billion for controlled items, up 7.9%. The nation enjoyed a trade surplus of US$2.8 billion, equal to 1.4% of the total export turnover. The Ministry of Industry and Trade forecasted that the nation may earn US$210 billion from exports for the whole year, up 18.9% from 2016. By Thuy Dung … [Read more...] about Export value in 11 months exceeds yearly target
Seminar improves value chain of Vietnam’s handicraft sector
Ta Hoang Linh, deputy head of the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency, said domestic firms have paid attention to design and trademark building in order to join the global value chain. He said within the framework of the project, both sides will establish the Vietnam-RoK design cooperation centre to improve design capacity and connect domestic and foreign designers together. The project will also operate an e-commerce channel to facilitate consumption and export of handicraft products, particularly in the RoK. Participants introduced specific activities of the project and proposed solutions to develop design and e-commerce channels. The event was co-hosted by the Vietnam Trade Promotion Agency and the Korea International Cooperation Agency (KOICA). … [Read more...] about Seminar improves value chain of Vietnam’s handicraft sector
Increasing added value of logistics services
A seminar on connecting supply and demand in training to improve the quality of human resources in the logistics industry In 2014, logistics costs in Vietnam were equivalent to about 21 percent of its gross domestic product (GDP), while in developed countries, this ranged from 9-14 percent. The logistics service industry contributed about three percent to Vietnam’s GDP in 2014. Currently, there are in Vietnam about 3,000 logistics service providers, and most of them are SMEs. The rate of outsourcing in the logistics industry remains low at 35-40 percent. Logistics service costs are still high due to limitations in terms of ICT application, management skills and high quality human resources. Moreover, linkages among logistics service providers, as well as their linkages with cargo owners remain loose. Therefore, the role and position of the logistics service industry is still incommensurate with its potential, as well as with Vietnam’s geopolitical position … [Read more...] about Increasing added value of logistics services
GFS Group Creating Sustainable Value for Community
In 2014, the GFS Group has cooperated with the MTV Pharmacy Company of Hanoi University of Pharmacy, currently known as DK Pharma Joint Stock Company, to develop the pharmaceutical areas and help reduce poverty in the districts 30a of Ha Giang province. With the cooperation of leading experts with the support from the local authorities and people, the GFS has been actively contributing to the community's values, step by step making Ha Giang a national key area on medicinal plants and Vietnam a world herb medical garden. Desires of the mountainous area The project on planting medicinal plants in association with hunger elimination and poverty alleviation which is implemented in 6 districts of the 30a Program including Quan Ba, Yen Minh, Meo Vac, Dong Van, Hoang Su Phi, Xin Man was approved by the Government (Document 2715/VPCP-KGVX dated 04/05/2014 of the Government Office). The Ministry of Agriculture and Rural Development has appraised 12,581 hectares of land, of which 5.180 … [Read more...] about GFS Group Creating Sustainable Value for Community