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BUSINESS IN BRIEF 23/3
FDI drop not to be taken in isolation
Total new and supplementary foreign direct investment (FDI)
capital reached US$1.192 billion in the first two months of this year, a drop
of 22.5% compared to the same period last year.
However, Minister of Planning and Investment Bui Quang Vinh
said that assessing FDI attraction needs to base on the whole process.
According to the Ministry of Planning and Investment’s Foreign
Investment Agency, as of February 20, 148 projects were granted investment
license with total registered capital of US$712.29 million, equal to 85.7 %
of a year ago. In the first two months of this year, each newly registered
FDI project just reached US$4.81 million in capital on average.
The first two months of this year also witnessed 58 investment
projects that increased their capital with the amount of US$480.5 million,
equal to 67.8 % of a year ago. In general, total new and supplementary FDI
capital reached US$1.192 billion in the first two months of this year, a drop
of 22.5 % compared to the same period last year.
Among the three outstanding projects that received investment
licenses in the first two months of this year, two projects increased their
capital, including the Hong Kong, China’s Regina Miracle International
Vietnam Company project and Japan’s Chuo Vietnam Company project in Hai Phong
with additional capital of US$90 million and US$50 million, respectively.
The largest FDI project was the British Virgin Islands’
US$300-million Worldon Vietnam Company project in
Although newly registered and additional capital fell, FDI
disbursement in the first two months of this year increased. By February 20,
the country disbursed US$1.2 billion, an increase of 7.1 % compared to a year
ago.
Many said that FDI attraction in the whole year would not
reach the target. However, Minister of Planning and Investment Bui Quang Vinh
said that assessing FDI attraction needs to base on the whole process.
Moreover, a fall in FDI attraction in the beginning months of the year is
usual. For example, FDI inflow in
An optimistic future awaits in terms of FDI attraction.
Firstly,
Many major FDI projects are being prepared or are applying for
an investment license. The situation of FDI will change after only several
billion-dollar projects are given a license.
On February 14, the government issued Decree 15/2015/ND-CP on
Public-Private Partnership (PPP) investments, helping the private sector
involve in big projects. A decree will take effect on April 10 and is
expected to attract more FDI capital for
Many major free trade agreements are expected to be signed in
2015 such as the Vietnam-Republic of Korea Free Trade Agreement (VKFTA) and
the
According to the Japan External Trade Organization (JETRO)’s
2014 report, about 62.3 % of a number of Japanese companies operating in
US Ambassador to Vietnam Theodore Osius said that the
The Consumer Price Index (CPI) of
According to the municipal Statistics Office, many festivals
and the full moon of the first lunar month fell in March, resulting in the
price increase of food and catering services (up 0.74% against the previous
month) and contributing to the CPI rise in March.
Another reason for the CPI increase was the increase in gas
prices since early March, causing the price of housing, electricity, water,
fuel and building materials to go up by 0.33% over February.
The rebound of petrol and oil prices since March 11 after a
long decline did not create considerable impacts on the CPI in March as the
price increase accounted for only four days in the period to calculate CPI in
March. Thus, the average prices of petrol and oil in March went down compared
to February, resulting in the 0.03% reduction in transportation compared to
the previous month.
March also witnessed a sharp decrease in the price of gold,
down 3.25%, and the slight increase in the price of US dollar at 0.02%.
In the last two months,
South Africa-Vietnam trade ties thrive
Last year marked the 20th anniversary of diplomatic ties
between
This year the embassy is continuing to promote its land and
people to
At a conference on tourism promotion in
The conference provided a good chance for travel firms from
the two countries to exchange information and seek new tours to boost tourism
cooperation, the ambassador said.
Vice Chairwoman of the HCM City Tourism Association Nguyen Thi
Khanh said last year HCM City received 4.4 million tourists. In addition, she
said that the number of
Do Thi Kim Lien, South Africa honourable consul in HCM City,
revealed that last year her office successfully assisted South African firms
in seeking partners to distribute four kinds of red wine – Pinotage,
Cabernet Sauvignon, Shiraz and Premium Cap Red in Vietnam.
It also held a number of programmes to advertise
The two countries have great economic potential for
cooperation, especially in the tourism industry but they have not been fully
exploited yet.
The honourable consulate office in
Golden Dragon Awards honour top brands
Seventy foreign-invested enterprises received Golden Dragon
Awards and 95 Vietnamese businesses were honoured on March 21 with the title
of strong brand names in 2015 at a ceremony in
At the ceremony, enterprises operating in
Hoe added that the event was organised to help policy makers,
managers, and the government in improving
The programme to promote the Golden Dragon Awards and strong
brand names was initiated in 2001 to acknowledge excellent performance of businesses
and recognize their contributions to the business and local communities.
Samsung Electronics, Vietnam Co Ltd and Chinfon Cement Company
Limited were among the top foreign invested enterprises that received awards.
Among the domestic strong brand names were Truong Hai
Automobile Joint Stock Company, Ben Thanh Corporation, Vietnam Dairy Products
Joint Stock Company and Hoa Sen Group Joint Stock Company.
Local securities firms call for raising foreign stake cap
Foreign investors should be allowed to hold a larger stake in
listed domestic companies to better attract investment for the country’s
stock market, local securities businesses said on March 20.
They thus urged for a higher limit at a conference held by the
State Securities Commission (SSC) in
“Giving more room for foreign investors to own a bigger stake
in the listed securities firms is essential and should be done soon,” Nguyen
Bang Tam, deputy chairman of the city-based club of listed companies, was
quoted by Dau Tu Chung Khoan (Stock Investment) newspaper as saying.
Tam said the move will enable
Nguyen Thanh Long, SSC deputy chairman, also believed a higher
foreign shareholding cap will only benefit
“It will fortify the stock market’s strength and sustainable
development,” he said.
According to Decision No.55 issued by the Prime Minister in
2009, a foreign investor is allowed to own a maximum stake of 49% in a listed
company. The same regulation is applicable for unlisted companies that have
at least VND10 billion (US$466,027) in charter capital and more than 100
shareholders, according to Dau Tu Chung Khoan.
But many Vietnamese businesses see the 49% limit as not enough
for their development, and thus find ways to attract bigger investment
without violating the regulation.
These companies set up subsidiaries, refuse to get them
listed, and attract strategic foreign investors to buy majority stakes in
them.
“So whether a company is listed or not is the only factor that
makes the difference,” Dau Tu Chung Khoan commented, referring to the fact
that non-listed companies can attract foreign shareholding without worrying
about the 49% limit.
In 2013 and 2014, the Ministry of Finance and the SCC proposed
lifting the cap to 60%, but the bid eventually failed.
“It was because the relevant ministries and industries had
different opinions on the issue,” Dau Tu Chung Khoan quoted Deputy Finance
Minister Tran Xuan Ha as saying.
The SSC has reportedly proposed allowing foreign investors to
own 100% of listed domestic securities firms, according to Reuters.
Foreigners could be permitted to buy shares of brokerages
"without limit,” Reuters said, citing an SSC proposal.
HCM City making inroads into Myanmar
Its population of 60 million is smaller than
It has only been a few years since the
Over the past few years,
The city has also staged a trade fair annually at which we
conducted surveys as part of an attempt to identify market trends that are
either threatening or creating opportunities for the future, she said.
As a result of the city’s efforts, exports rose to US$77.34
million in 2014, an overall figure that is still modest in relation to its
potential.
The less than desired exports to date have largely been the
result of weak domestic demand in the country.
In addition, consumers are highly selective in the goods and
services that they do purchase, which increases the market risks
exponentially and the importance of niche marketing.
The city has targeted the retail markets for household
plastics, processed food, cosmetics, pharmaceuticals along with the
commercial markets for construction materials, fertilisers and industrial
electrical supplies and equipment.
However, businesses face strong competition from Thai and
Chinese businesses in these markets, which makes it all the more important to
develop an appropriate short and long term strategy to do business in the
country, Nam said.
Another factor impeding growth is the high transport costs and
problems related to payment and foreign currency issues
A further complication is that if a business wants to jump
into in the retail sector they must trade via
Our advertising and marketing activities have also been weaker
than those of Chinese and Thai businesses,
For instance, FPT Information System Company Ltd (FPT IS)
recently secured a contract to develop an enterprise resource planning (ERP)
system for United Paints Group (UPG).
The seven month contract calls for FPT IS to install a SAP
system for UPG to better manage production, sales, warehouse, inventory and a
smart reporting system.
FPT group also recently won a contract to supply services to
set up a sales and distribution network for Myanmar Mayson Industries Co.,
Ltd (MMI) – the leading retailer. As another example, in early March, Hoa
Binh Company completed construction of a GEMS building in
“This year
First of all, we will step up the number of trade and tourism
fairs, Lam said.
Secondly we will organise more seminars to introduce products
and have already set up one for this coming May at Tatmadaw Hall in
Lastly, we will also substantially increase the number of due
diligence tours to Yangon and
Many products are beginning to make some headway into the
market such as plastics made by the Rang Dong company, electric cables by
Cadivi, lights by Dien Quang and iron sheet by Hoa Sen, Lam added.
Experts seek ways to improve income for mango farmers
A workshop was held in the Mekong Delta city of
The event was co-hosted by the Cuu Long Delta Research
Development Institute, the Steering Committee for the Southwest region and
the Australian Centre of International Agriculture Research (ACIAR).
Experts proposed establishing linkages between farmers and
processing and export businesses to ensure farmers can sell their products.
They also urged the provision of market knowledge and
cultivation techniques for farmers with a view to increase product quality
and meet market demand.
Dong Thap has over 9,000 hectares under mango, producing
around 100,000 tonnes of fruit a year.
The Vietnam-Thailand Joint Committee on bilateral cooperation
held its second meeting in
During the meeting, co-chaired by Deputy Prime Minister and
Foreign Minister Pham Binh Minh and his Thai counterpart Thanasak
Patimapragorn, both sides also pledged to enhance investment partnership by
working closely in implementing large-scale Thai projects in
This move is expected to increase
The joint committee agreed to propose organising the third
joint cabinet meeting during Prime Minister Nguyen Tan Dung’s visit to
Thailand, which is slated for the first half of 2015, and holding the second
ministerial meeting of the Joint Committee on Trade in Thailand soon.
On defence-security partnership, both sides will urge the
organision of the seventh meeting of the political-security joint working
group in
Both sides agreed to hold discussion on the opening of a
cross-border bus route between
At the same time, they committed to enhancing agro-forestry
and fishery coordination, while joining hands in dealing with issues related
to fishermen and fishing vessels with humanitarian and friendship spirit.
Both countries reached high consensus on cooperation in other
fields including culture, tourism, education-training, science and
technology, and environment protection.
They also pledged to work closely together and with other
ASEAN members for the formation of an ASEAN Community in 2015.
Regarding
The two sides will also support each other in their bids for
non-permanent seats in the UN Security Council, with
They will also strengthen the sharing of information and
experience in planning and managing water resources, especially in
Following the meeting, the two Deputy PMs signed an agreement
between the two Foreign Ministries. They agreed to hold the next meeting in
Deputy Prime Minister and Foreign Minister Thanasak Patimapragorn
is making an official visit to
Vietnam-Thailand two-way trade reached US$10.6 billion last
year, a year-on-year rise of 12.5%.
Danang aims to boost FDI to fight poverty
The Danang Municipal People’s Committee is aiming to boost
foreign direct investment (FDI) into the city as part of their effort to
tackle poverty.
At a committee meeting on March 20, Phung Tan Viet, vice
chairman, said the committee believes that increased levels of investment
will play acritical and pivotal role in revitalizing the city’s economy.
Most notably businesses in the city can benefit by tapping the
capital, technology, management know-how, sales, and procurement networks of
foreign companies and employees will be able to secure good high paying jobs.
Though the city continues to receive steady FDI inflows the committee
believes the levels are not optimum. It has been primarily concentrated inthe
hi-tech and support industry projects, most notably green projects.
The committee discussed nine areas where they need to
concentrate on improving in order to boost FDI attraction.
The lack of coordination among functional agencies was cited
as the number one area needing improvement.
With the trend of regional and global integration on the rise,
Vietnamese enterprises are on a mission to reinvent the nation’s
supply-chains, giving domestic businesses a larger and more equitable piece
of the pie.
Take coffee for example— the goal for many smallholder farmers
is to grow, roast, package their beans and sell them directly online and make
more money than they do now.
In the past they largely just grew the stuff and sold it to
middlemen who ended up earning all the profits, leaving the farmer with a
paltry share of the pie. So the aim of overhauling this model is to cut out
the middlemen.
However, domestic enterprises are finding reinventing supply
chains is no easy matter. It also isn’t a one size fits all model and
each product must be analysed and treated independently.
Lawyer Tran Huu Huynh, chair of the Vietnam International
Arbitration Centre recently said there usually is more than one supply chain
model that might work for any given product.
Most of the current supply chains were developed in the
context of a closed market economy Huynh said adding that they won’t work efficiently
in an economy driven by open market forces leaving domestic businesses at a
competitive disadvantage.
Consider a customer walking into Big C or Metro to purchase
paper towels. The supply chain begins with the customer and their need for
paper towels.
The next stage of this chain is Big C or Metro. They in
turn stock the shelves with inventory from a distributor using trucks
supplied by yet another business. Of course the paper towels were
manufactured by yet another business.
All of these parties are part of the supply chain. In short
the supply chain consists of all parties and functions involved, directly or
indirectly, in fulfilling the customer’s request for paper towels.
Huynh said developing and organising all these parties in an
efficient chain is quite complex and many businesses lack the staff with the
capabilities to develop and implement an appropriate strategy.
VCCI Vice Chairman Hoang Van Dung underscored the need to
improve capacity of Vietnamese business associations in the context of
increasingly integration, saying that they should further enhance links so as
to raise competitiveness, enabling them to join global value chains.
Dang Phuong Dung, secretary general of the Vietnam Textile
and Apparel Association (VITAS) has expressed concern over the capacity
of the staff of Vietnamese businesses to develop and give effect to
appropriate supply chain strategies as well. Dung suggests business
associations operate following two directions. On the one hand they need to
get up to speed on the government’s policies and stance on the issues.
On the other hand they need to work through business associations and develop
their capabilities.
If domestic businesses want to increase their prestige,
promote strength, and improve the competitiveness in the international arena,
they need to connect with each other to get the advantages.
Economist Pham Chi Lan emphasised that the government’s
development of more efficient supply chains is also being hampered by lack of
funds. It takes a lot of money, time and qualified people to
effectively carry out all the activities that need to be undertaken.
Sharing the same view with Lan, Nguyen Dinh Cung, Central
Institute for Economic Management (CIEM) Director stressed the need to revamp
the role of ministries. They are currently overwhelmed with the
responsibility for issuing and enforcing policy, and regulating the market.
It should be left to businesses to develop their supply
chains, Cung concluded.
19 businesses win gold quality awards
Nineteen businesses across the country were granted with the
2014 national gold quality awards in recognition of their outstanding
performance in the building and application of high quality management
systems in the field.
In addition, 46 firms were presented with the silver awards.
The awarding event was held in
Three Vietnamese businesses were presented with the Global
Performance Excellence Award (GPEA) of the Asia-Pacific quality organisation,
with the Hanoi-based Military Commercial Joint-Stock Bank (MB) won the first
prize in category of large service provider.
The Saigon-Phu Quoc JSC from southern Kien Giang province
bagged second prize in category of small and medium sized manufacturer, and
Ha Bac Nitrogenous Fertilizer and Chemicals Co. Ltd from northern Bac Giang
province came third in category of big business producer.
Addressing the ceremony, Vice President Nguyen Thi Doan said a
strong business community will help the country to develop along the goal of
industrialisation and modernisation.
She warned that the establishment of the ASEAN Community and
the signing of many free trade agreements (FTA) in the coming time will pose
numerous challenges to the Vietnamese businesses.
Therefore, businesses must continuously improve the quality of
products via the support of advanced science and technology to raise their
position in both domestic and global playgrounds, she said.
Launched in 2009, the National Quality Awards are part of the
International Asia-Pacific Quality Awards system of the Asia-Pacific Quality
Organisation.
Cashew exporters secure firm foothold in markets
According to the Ministry of Industry and Trade, the sector
pocketed 276 million USD in revenue during the first two months of 2015,
posting an annual increase of 44.7 percent.
Last year, as many as 1.2 million tonnes of cashew nuts were
shipped abroad, generating nearly 2 billion USD and representing the largest
figure recorded so far, according to the Vietnam Cashew Association
(Vinacas).
The internationally recognised Vietnamese cashew is now sold
in 50 countries, with 30 percent of total exports destined for the
Cashew nuts have become one of the key export staples of
Despite challenges in 2015, such as the Euro devaluation and
the oil crisis, the cashew market remains relatively stable due to increasing
demand, the Vinacas commented, saying this is a good opportunity for
businesses to expand the market.
However, a number of issues require additional attention, such
as narrowed growing areas, according to Vinacas Chairman Nguyen Duc Thanh.
He noted that the country harvests about 400,000 tonnes of raw
cashew nuts per year, but the plants are capable of processing up to 1
million tonnes of cashew. Around 50 percent of raw cashew nuts are imported,
mainly from
He recommended developing land area for growing cashews,
creating high-yield products, and building a production and sales chain.
Businesses are also encouraged to forge links with foreign
cashew growers, such as those in
They are also urged to keep close check on imported materials
to protect the Vietnamese cashew brand and reputation.
The sector targets 2.5 billion USD in export revenue in 2015.-
Workshop seeks to enhance Vietnamese handicrafts’ designs
The current consumer trends and taste for on the Japanese
handicrafts market were shared at a recent workshop in
The workshop was co-organised by the Ministry of Industry and
Trade and the ASEAN-Japan Centre for Trade, Investment and Tourism Promotion.
Speaking at the event, Shinji Yajima, a prestigious designer
from the Japanese Design Institute, highlighted the importance of products’
design, noting that this is a weak point of Vietnamese goods.
He suggested local handicraft makers cooperate with foreign
designers, including those from
Deputy head of the Trade Promotion Department Do Kim Lang
acknowledged that most Vietnamese enterprises are only selling what they can
make, without paying due attention to the specific demand of the Japanese
market.
In 2014,
Online shopping website Lazada.vn reports five-fold growth in
2014
Online shopping website Lazada.vn has reported a five-fold
growth in 2014 from the year before.
Alexandre Dardy, the CEO of Lazada
As of the end of last year the website had cooperated with
1,500 retailers to develop a marketplace platform, he added.
It recently tied up with new partners like FPT, Lingo, Sony,
Philips and Samsonite.
Lazada Group, invested by German group Rocket Internet, has a
presence in six countries in the region.
FTAs’ effects on
Participation in free trade agreements (FTAs) will help
Speaking at a workshop on opportunities brought by FTAs in
He continued to say that joining TPP will make
Clashing interests are unavoidable as opportunities of this
sector are challenges of other sectors, he said, but adding that overall,
benefits gained will be bigger than losses.
Director General of the Vietnam Garment and Textile Group
(Vinatex) Le Tien Truong said that without risks there will be no
opportunities. He said Vinatex sees FTAs as great opportunities to expand
export markets and accelerate its own modernization.
Any businesses that can take full advantage of opportunities
will be able to join the global supply chain, he added.
Japan to launch more projects in Can Tho
Japanese Deputy Consul General in Ho Chi Minh City Yoshinori Yakabe
made the promise at a meeting with Vice Chairman of the municipal People’s
Committee Dao Anh Dung on March 20.
According to the official,
The Consulate General will also work to accelerate the
establishment of twinning relations between Can Tho and
Dung, in turn, informed the Japanese official that a
Japanese-funded project to build a medical facility for the homeless elderly
and children has been put into operation, while another to build 12 bridges
in rural areas, also with most of funding coming from by
The projects help improve local social welfare services and
open up more economic development opportunities for the rural areas, he said.
Packaging expo to increase international exposure
This year's Propak
This year's event, the 10th edition, will thus see over 20
percent growth in size, with 82 percent of exhibitors coming from overseas.
Propak Vietnam 2015 will showcase many latest technologies and
solutions from around the globe to serve the expanding Vietnamese food, drink
and pharmaceutical processing and packaging industry.
The exhibition will focus on four main parts – equipment and
machinery, packaging materials and accessories, services, quality, and
training.
BT Tee, deputy chief of Singapore Exhibition Services'
Notably, the exhibition has attracted the seven biggest
technology exporting countries and territories in the field of packaging
equipment –
Food safety, green packaging and eco-manufacturing, some
burning issues in
Propak Vietnam 2015 will be held at the Saigon Exhibition and
Convention Centre by the representative office in Vietnam of Singapore
Exhibition Services Pte. Ltd. with VCCI Exhibition Services Co Ltd.
450 businesses to participate at Vietbuild Hanoi 2015
This year’s Vietbuild Home International Exhibition in
The interior and exterior furnishing product fair will be held
in
Participants, including 54 firms and groups from 18 foreign
countries and territories, are expected to bring their latest products,
satisfying increasing demand of the local market.
A series of seminars will be organised on the sideline of
Vietbuild Hanoi 2015 focusing on new product development and technology
innovation in the field. The using of energy-efficient and environmentally-friendly
materials in building is among topics for discussion.
Japanese firm keen to treat organic waste in Can Tho
A Japanese firm producing organic waste treatment systems is
seeking a cooperation opportunity to run a trial in the Mekong Delta City of
Can Tho.
During a working session with the Can Tho People’s Committee
on March 19, company representative Makoto Tokuoka said the firm has
successfully operated a cost-efficient organic waste treatment system in
In
During the trial period, the firm will run a JICA-funded small-scale
treatment system with an average daily capacity of 100 kilograms operated by
a consultation team of Japanese experts.
It will work with the Can Tho University to determine an
existing bacteria in Vietnamese wood to use in the system.
The company also plans to establish a production factory to
provide for the Vietnamese market and the regional market in the long run.
Vice Chairman of the Committee Dao Anh Dung lauded the
initiative, saying that the city will facilitate the project implementation.
Can Tho is also offering incentives for investors in advanced
technology solid waste treatment in the locality in an effort to protect the
environment.
Atlassian to expand JIRA development team in Vietnam
As a product, JIRA is as well known in the software industry
as the iPhone is in the mobile phone market. The bug tracking and project
management software now has around 33,000 customers, including the likes of
Nasa, Microsoft, and Ebay.
JIRA is a product created by Atlassian, an Australian company
which was founded in 2002 by Scott Farquhar and Mike Cannon Brooks, two
university drop-outs.
Today, the company is worth more than US$3 billion, and it is
a household name for team solutions. This is what Forbes has said about the
company: "Atlassian is to software as Apple is to design”, and “If
software is eating the world, then Atlassian is its chief.”
Atlassian is investing in
A JIRA development team was set up in October 2014, and this
team is expected to grow to around 50 people by the end of 2015. An unmissable
opportunity for the Vietnamese software industry to learn how to build great
products that bring strong values to the world.
The explosive JIRA Landing event in
By joining this conference with inspiring talks and useful
workshops, participants can learn more about how Atlassian directly
integrates customers’ needs into the development process by influencing Agile
approaches, dev team distribution, as well as product balance between QA,
design, and product management.
Bryan Rollins, GM of JIRA, and Nick Menere, JIRA’s Head of
Engineering will also join the day to share their knowledge and experience as
well as discuss how the company successfully turned JIRA into the powerhouse
it is today.
With the trend of regional and global integration on the rise,
Vietnamese enterprises are on a mission to reinvent the nation’s
supply-chains, giving domestic businesses a larger and more equitable piece
of the pie.
Take coffee for example— the goal for many smallholder farmers
is to grow, roast, package their beans and sell them directly online and make
more money than they do now.
In the past they largely just grew the stuff and sold it to
middlemen who ended up earning all the profits, leaving the farmer with a
paltry share of the pie. So the aim of overhauling this model is to cut out
the middlemen.
However, domestic enterprises are finding reinventing supply chains
is no easy matter. It also isn’t a one size fits all model and each
product must be analysed and treated independently.
Lawyer Tran Huu Huynh, chair of the Vietnam International
Arbitration Centre recently said there usually is more than one supply chain
model that might work for any given product.
Most of the current supply chains were developed in the
context of a closed market economy Huynh said adding that they won’t work
efficiently in an economy driven by open market forces leaving domestic businesses
at a competitive disadvantage.
Consider a customer walking into Big C or Metro to purchase
paper towels. The supply chain begins with the customer and their need for
paper towels.
The next stage of this chain is Big C or Metro. They in
turn stock the shelves with inventory from a distributor using trucks
supplied by yet another business. Of course the paper towels were
manufactured by yet another business.
All of these parties are part of the supply chain. In short
the supply chain consists of all parties and functions involved, directly or
indirectly, in fulfilling the customer’s request for paper towels.
Huynh said developing and organising all these parties in an
efficient chain is quite complex and many businesses lack the staff with the
capabilities to develop and implement an appropriate strategy.
VCCI Vice Chairman Hoang Van Dung underscored the need to
improve capacity of Vietnamese business associations in the context of
increasingly integration, saying that they should further enhance links so as
to raise competitiveness, enabling them to join global value chains.
Dang Phuong Dung, secretary general of the Vietnam Textile
and Apparel Association (VITAS) has expressed concern over the capacity
of the staff of Vietnamese businesses to develop and give effect to
appropriate supply chain strategies as well. Dung suggests business
associations operate following two directions. On the one hand they need to
get up to speed on the government’s policies and stance on the issues.
On the other hand they need to work through business associations and develop
their capabilities.
If domestic businesses want to increase their prestige,
promote strength, and improve the competitiveness in the international arena,
they need to connect with each other to get the advantages.
Economist Pham Chi Lan emphasised that the government’s
development of more efficient supply chains is also being hampered by lack of
funds. It takes a lot of money, time and qualified people to
effectively carry out all the activities that need to be undertaken.
Sharing the same view with Lan, Nguyen Dinh Cung, Central
Institute for Economic Management (CIEM) Director stressed the need to revamp
the role of ministries. They are currently overwhelmed with the
responsibility for issuing and enforcing policy, and regulating the market.
It should be left to businesses to develop their supply
chains, Cung concluded.
Source :
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Thứ Hai, 23 tháng 3, 2015
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