U.S. Firms Keen to Tap Vietnam’s Rising Demand for Clean Water
A number of U.S. water infrastructure companies led by Arun Kumar, U.S. Assistant Secretary of Commerce for Global Markets, have expressed interest in meeting demand for fresh water and treatment of wastewater in Vietnam.
At a meeting in Ho Chi Minh City
on July 18, the U.S. firms introduced their latest technologies and wanted to provide water solutions to Vietnamese potential partners.
Korean Firms in Vietnam Falling Short in Profitability: KOTRA
Korean firms operating in Vietnam have yet to yield profits expected of the amount of investment they have made in the emerging market, according to a report by the Korea Trade-investment Promotion Agency (KOTRA).
The rate of operating profit of Korean companies in Vietnam was 2.3% and net profit 0.6% in 2015, falling short of the 3.4% average for operating income and 2.6% for net income among Asian firms doing business in Vietnam.
Vietnam Brand-Ranking Analysis: Many MNCs Drop
Many multinational companies dropped in this year's rankings for Vietnam, even as disposable income continues to rise, according to Euromonitor.
In the brand rankings, the top 10 saw a few significant moves compared with last year: Lotte and Apple changed places, (Lotte fell from 4 to 7, while Apple rose from 7 to 4). Panasonic dropped two spots to 9 despite emphasizing its small home appliances in Southeast Asia markets.
Adidas entered the top 10, rising from 12 to 10. The brand that made way for the sportswear brand? Coca-Cola
, which dropped from 10 to 14 in the year’s most significant slip.
Vietnam Has Huge Demand for Energy-saving Devices
Vietnam has met up to 90% of domestic demand for equipment of the transmission grid, but has large needs for energy-saving devices, said Deputy Minister of Industry and Trade Do Thang Hai at the Vietnam ETE and Enertac Expo.
The expo, which runs from July 20 to 23, drives the participation of 160 Vietnamese and foreign companies which manufacture electric and energy-saving devices, and provide energy technologies.
Hai Phong Aims to Become Maritime Economic Hub
The northern city of Hai Phong strives to lead other localities in the development of the sea-based economy, according to the Vietnam News Agency.
The city will also focus on developing and expanding industrial parks that were approved by the prime minister as well as accelerating the building of infrastructure, especially in the project of Dinh Vu-Cat Hai Economic Zone.
HCM City: 1,000 Start-up Projects to Receive Support
The Ho Chi Minh City Young Businesspeople Association (YBA) has said it will support 1,000 creative start-up projects during the 2016-2020 period.
The association will also accompany 300 start-ups and calls for 500 billion dong ($22.5 million) investments in more than 100 others, municipal leaders and entrepreneurs said at a meeting in the city on July 19.
14th National Assembly Opens First Session with Key Targets
The 14th National Assembly opened its first session in Hanoi today, focusing on review, discussion and decisions on key issues such as high-ranking personnel for the State and socio-economic development plans.
Party General Secretary Nguyen Phu Trong
presented an important speech in which he highlighted five targets for the NA during the 2006-21 period, and asked the delegates to fulfill their tasks of legislating, supervising and deciding on the country’s important issues.
Real estate continued to be the second most attractive industry to foreign investors in Vietnam in the first half of this year, when receiving $604.8 million in pledged capital, higher than $465.5 million a year earlier, according to data of the Foreign Investment Agency under the Ministry of Planning and Investment.
Vietnamese consumers are buying fewer vehicles from China as they gradually recognize Chinese products have low quality, unreliable durability and counterfeit designs.
In less than a decade, six Chinese auto manufacturers entered Vietnam either through shipping completely built up (CBU) cars or setting up completely knocked down joint ventures.
Heat stress may cost nearly 6% of Vietnam’s gross domestic product by 2030 while other climate change effects may cost over 4% of GDP, according to a report by New Zealand-based Health and Environment International Trust.
Vietnam may be affected by the UK vote to leave the EU through financial markets, trade and investment channels, its exposure to potential first round effects is relatively limited, the World Bank (WB) has said in a report.
The World Bank (WB) has trimmed its 2016 economic growth forecast for Vietnam by 0.2 percentage point from its previous projections to 6.0%, citing the impact of a severe drought on agricultural production and slower industrial growth.