The first edition of the White Book on Vietnamese businesses compiled by the General Statistics Office (GSO) is expected to be released later this month, according to the GSO (Illustrative photo: VNA) Hanoi (VNA) – The first edition of the White Book on Vietnamese businesses compiled by the General Statistics Office (GSO) is expected to be released later this month, according to the GSO. The book, containing basic information on the assessment of businesses’ growth in the 2011-15 and 2016-18 periods, is hoped to bolster the development of firms across the country. It also introduces the context of development and production targets for domestic businesses in the previous year and the 2016-18. Also included in the book are rankings of foreign direct investment (FDI) firms, State-owned enterprises and private businesses, which were based on different criteria such as growth rate, business efficiency, tax payment, contributions to the State budget, and workers’ … [Read more...] about White Book on Vietnamese businesses 2019 to come late May: GSO
Vietnamese businesses
Vietnamese businesses innovate for comprehensive integration
Innovation, creativity, and business support mechanisms in realizing innovation efforts are challenging businesses, ministries, sectors, and localities amid the rapid development of science and technology. Innovation and creativity are an area in which Vietnamese businesses are weak during the Fourth Industrial Revolution in which labor productivity is of utmost importance. Vietnam's labor productivity is approximately US$4,000 per person per year, a very low rate compared to others in the region. FPT Software President Hoang Nam Tien said, “Currently businesses which are faster will win, defeating even bigger enterprises. How to embrace digital transformation remains an important question for all enterprises. The answer is to be quick to seize opportunities. Businesses should begin with small, simple things but be as quick as possible. In that way, it can quickly produce the desired effect.” Dr. Nguyen Dinh Cung, Director of the Central Institute for Economic … [Read more...] about Vietnamese businesses innovate for comprehensive integration
Why expand your Vietnamese businesses to Singapore
The main reasons to expand a Vietnamese business to Singapore are not only close and long-term diplomatic relations, but also low taxes and a favourable business climate. Singapore is an ideal destination for business expansion for a variety of reasons The investment and trade relations between Vietnam and Singapore have continued to grow ever since the establishment of bilateral diplomatic relations. The two countries have a close economic co-operation and opportunities are bilateral: both for Singaporean companies that expand to Vietnam and for Vietnamese companies expanding to Singapore. What are the main reasons to expand a Vietnamese business to Singapore? Low taxes and a favourable business climate are just two of the most important ones. Singapore, a top option for company expansion Singapore is one of the top locations in Asia to expand a business. The city-state has a favourable business climate that allows for a quick and easy company formation or expansion. It is … [Read more...] about Why expand your Vietnamese businesses to Singapore
Vietnamese businesses invest in Myanmar
Mytel, a joint venture between Vietnamese telecommunications Group Vietel and Myanmar, in Yangon. Last year Vietnam’s investment in Myanmar totalled 2.2 billion USD, ranking 7th among 49 countries and territories investing there. In 2009 the Hoang Anh Gia Lai Group came to Myanmar to build the Myanmar Plaza - a shopping center, offices, and hotels in Yangon. The BOT project will expire in 70 years, and last year it earned 50 million USD. The 2nd phase of the Myanmar Plaza will be completed in 2020. Cao Duy Thinh, Director of Hoang Anh Gia Lai Myanmar, said “A big city with a growing demand for housing will always be attractive to real estate investors. Middle-class apartments are lucrative and good policies will draw more investors.” Vietnamese businesses have advantages in IT and telecommunications. Mytel, a joint-venture between Viettel and Myanmar that officially opened in June, 2018, has signed up 4 million subscribers in 6 months. BIDV is one … [Read more...] about Vietnamese businesses invest in Myanmar
Vietnamese businesses set sights on success in Industrial Revolution 4.0
An automotive production line at Honda Factory Vietnam. (Photo: vneconomy.vn) Global competition is now based on competitiveness instead of price or low labor cost. Vietnamese enterprises are taking the right steps to grasp existing opportunities and establishing a firm foothold in the market. E-commerce and digital technology are creating great opportunities for Vietnamese businesses to enter the world market and engage in the global value chain. Currently, a small or micro business can enter the world market or conduct business transactions with just one computer and a smartphone. But to access the world market on the global standard, Vietnamese enterprises must fundamentally improve their capacity to adapt. Nguyen Manh Hao, CEO of the American English School, a leading training brand in Vietnam, said AMES has prepared for a long time. “We set up an IT team many years ago and are proud to be the first company in Vietnam to create a foundation for students nationwide to … [Read more...] about Vietnamese businesses set sights on success in Industrial Revolution 4.0