IAG ready for Vietnam market Insurance Australia Group (IAG), a leading non-life insurer in Australia and New Zealand, has laid the foundation in Vietnam market since it became a main investor at AAA Insurance Joint Stock Co. in 2013. Why did IAG choose Vietnam and what is its vision? Stephen Beatty, Head of IAG Vietnam, honors excellent agents of the banking sector in 2015 in Hue City Strengths of AAA Assurance Corporation Vietnam in general and the insurance industry in particular are well regarded as high growth potential. Therefore, many foreign insurance companies, including IAG, target the nation as an ideal investment venue in their business development strategies in Asia. In 2013, IAG became a major shareholder at AAA Insurance Joint Stock Co. With over 100 years of experience in the non-life insurance industry in developed and developing markets, IAG and AAA are confident to offer local customers both a wide range of insurance … [Read more...] about IAG ready for Vietnam market
Vietnam fastener manufacturers
VietNamNet Bridge – Economists have warned that the difficulties of 2011 would continue in 2012, and that manufacturers should not put too high hopes on the consumption demand increases in 2012. 53,000 bankrupted businesses, higher unemployment rate and goods sharp price increases have been cited by economists to warn that difficulties are still ahead, and that the demand in 2012 would even be weaker than in 2011. According to the General Statistics Office (GSO), the total retail sales of goods and consumer services in 2011 increased 24.2% over 2010. However, if not counting on the price increases, the increase would be less than five percent, the lowest increase over the last few years. Vu Dinh Anh, a well known economist from the Ministry of Finance, said that the statistics have proved the tendency of people fastening their belt in the context of the high inflation. Anh believes that one could consider three factors to forecast the consumption level in 2012 – … [Read more...] about Manufacturers told not to put high hopes on consumer market in 2012
VietNamNet Bridge – While domestically made products have been piling up in enterprises’ stocks, imports still have been selling well in the domestic market. Vietnamese manufacturers have been worried stiff with the big inventories. The unsalability of products has been attributed to the weak domestic demand, since people have to fasten their belt in the context of high inflation. However, the reason proves to be unconvincing, because domestic manufacturers cannot explain why foreign made products still have been flooding the market, while Vietnamese consumers still choose imports when they need non-essential goods. The answer to the question--why import products still can be sold well lies in the attractive promotion campaigns offered by manufacturers and distributors. Samsung Galaxy S3 9300 products would only be available on the Vietnamese market from June 1-5, 2012. However, the market has got boisterous already, since Media Mart, the distributor, and … [Read more...] about Vietnam turns into the consumer of the world’s inventories?
VietNamNet Bridge – Though the demand and consumption level dropped dramatically in 2012, when the state cut down public investments and people fastened their belts, Vietnam still witnessed a big gap between steel imports and exports in the context of the domestic oversupply. According to the Vietnam Steel Association (VSA), in 2012, Vietnam exported 2 million tons of steel with the total turnover of 2 billion dollars. However, it spent $7 billion to import 10 million tons of steel of different kinds, which means the trade gap of five billion dollars. The noteworthy thing is that Vietnam not only imported scrap steel or ingot steel which are the materials for domestic steel production, but it also imported the products which are now in oversupply in Vietnam. Experts have warned that the problem would not be settled immediately and that the trade gap would last many more years due to the increasingly high and diversified demand to serve the socio-economic development. … [Read more...] about Vietnam still puzzled with excess of steel imports over exports
Songnam Trading and Manufacturing Joint-stock Company, which exports an average of 40 tonnes of fasteners to Japan and Europe, proves that Vietnamese enterprises are competent to penetrate into the world market of components for hardware production. The person who has built Songnam Company is young Pham Trung Hieu, who did not major in mechanics but studied business administration at the Foreign Trade University. With his curiosity and creativity, in 2004, Hieu opened a workshop producing hardware products like screws, nuts, bolts, and the like in realisation of the market’s potential. Hardware products of Songnam Company are designed by the company and mass-produced with high quality. Those products are utilised in many manufacturing sectors like uPVC and aluminium door production, electronics, woodworking, mechanics, machine manufacturing, auto and motor assembling, ship building, and railways. Songnam Company has two factories with a total area of 1000m2. Every designing … [Read more...] about Songnam Fasteners Enter the World Market