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BUSINESS IN BRIEF 2/4
Promo tours sell well at festival
Local travel firms have reported good sales thanks to
promotional tours at the four-day annual Tourism Festival at September 23
Park which ended on Sunday.
Saigontourist Travel Service Company was quoted by Tuoi Tre
newspaper as saying that around 9,000 visitors dropped by its booth and more
than 5,000 of them booked tours and asked for travel advice at the event, up
over 30% compared to last year’s event.
Vietravel said more than 400 guests booked its tours at the
event with total sales amounting to more than VND6 billion (more than
US$278,500), surging 40% over last year’s event. Meanwhile, Ben Thanh Tourist
sold out its packages for the upcoming six-day holiday on April 30 and
International Labor Day.
As observed by the Daily, many travel companies promoted tours
for the Reunification Day and International Labor Day, and discounted tours
attracted more buyers.
Tu Quy Thanh, director of Lien Bang Travelink Company, said as
consumers still tighten spending, they opted for low-priced tour packages.
“
The domestic tours preferred by many guests take in Danang,
Hoi An,
More visitors purchased tours and made payments on the spot.
Tran Thi Viet Huong of Vietravel said this was the first year the company had
accepted payments for its tours at the festival.
Organized by the HCMC Department of Tourism, the festival
attracted some 300,000 visitors. Many companies and localities took part in
the event to promote food specialties, pharmaceuticals and organic
vegetables.
‘Made in
Lotte and Saigon Co.op have announced plans to substantially
increase the stock of Vietnamese goods on the shelves of their stores in the
RoK and
During a recent conference, Le Ngoc Dao, deputy director of
the HCM City Department of Industry and Trade, emphasized that the 2015 price
stabilization program will also provide support for local businesses to
increase exports.
This year, banks will provide loans of VND 11.850 billion to
the price stabilization program at interest rates ranging from 0.5% to 2%.
Notably, banks will also provide supplementary credit packages of VND 900
billion to support businesses.
Hong Won Sik, Lotte Mart
Saigon Co.op Deputy Director Nguyen Thanh Nhan said his
supermarket also exported Vietnamese goods to the Fairprice supermarket chain
in the RoK, which he said spawned revenue of VND15 billion.
Michael Wiedmann, Metro Vice President - Group Director Public
Policy said he believes that several Vietnamese goods like tra and basa fish
will secure a firm foothold in the German and European markets in the
future.
Emart fast tracks supermarket centre in HCM City
At an Emart partner’s conference on March 31, Choi Kwang Ho, a
company director, announced that its first supermarket in
To date he said the company has pumped about US$60 million
into the project, adding that it is also speeding up formalities to open a
second centre in Tan Phu district of the city.
The leading supermarket has joined hands with the Binh
Duong-based U&I Group to open a supermarket chain in
It holds an 80 % stake in an Emart Vietnam joint venture,
which has plans to invest US$1 billion to open 52 supermarkets and stores in
urban areas around the country, the Saigon Times daily has reported.
Once completed, this will be the largest supermarket in the
city specializing in providing food, household utensils, and clothing made in
the RoK. The trade centre will also have entertainment for children,
restaurants and cinemas.
During the event, representatives from Emart
The company began operations in the RoK in 1993, and since has
expanded rapidly opening 153 centres in the RoK and 10 centres in
VIB named a leading Asian Trade Bank
The Vietnam International Bank (VIB) will be honoured by the
Asian Development Bank (ADB) on April 22 as one of the top Trade Finance
Banks in
The award will be presented by the ADB Trade Finance Program
at a gala dinner of the International Chamber of Commerce's (ICC) Banking
Commission Annual Meeting to be held in
This is the first Annual Awards Ceremony to be held by the
Trade Finance Program in recognition of the significant contribution of its
partners to the promotion of trade finance in the
The ADB’s Trade Finance Program fills market gaps for trade
finance by providing guarantees and loans to banks to support trade. Backed
by its AAA credit rating, ADB's Trade Finance Program works with over 200
partner banks to provide companies with the financial support they need to
engage in import and export activities in
The program supports a wide range of transactions from
commodities and capital goods to medical supplies and consumer goods.
Automobile imports from
Around 4,363 Indian automobiles were imported into
Car imports from
Most of cars imported from
Packaging exhibition opens in HCM City
Organised by Singapore Exhibition Services and local partner
VCCI Exhibition Services to serve the then new and upcoming processing and
packaging industry, Propak Vietnam 2015 marks its 10th anniversary this year.
This year's event not only showcases many new technologies and
equipment but also offers networking opportunities for industry
professionals.
The three-day exhibition has attracted 267 exhibiting
companies from 28 countries and regions, with foreign exhibitors occupying
79% of the 6,000sq.m of exhibiting area.
There are eight international pavilions representing
Bruna Santarelli, Trade Commissioner at the Italian Trade
Commission in
The Italian firms featured at this year's exhibition include
experienced manufacturers of an array of packaging machinery for extrusion
lines, thermoforming, multi-layer blown film lines, pasteurising, filling,
cleaning, labelling, and palletising.
The Italian businesses will showcase their home country's
engineering ingenuity and their latest developments to manufacturers in
Italian design remains among the most sought internationally
and the government of
This Italian-Vietnamese partnership has been working well and
the future looks bright.
Last year
BT Tee deputy chief representative of Singapore Exhibition
Services' representative office in
"In 2014
"Strengthening retail sales, FMCG consumption,
accelerating industrial production and improving investment sentiment point
to an even larger Propak
There will be a seminar titled "
At the Saigon Exhibition and Convention Centre, District 7,
Propak
Hanoi’s state budget collection increased 10.6 percent in Q1
The figure, the highest since 2012, represents 27 percent of
the yearly target.
Meanwhile, the local budget revenue reached 16.2 billion VND
(760 million USD), meeting 28.7 percent of the yearly plan.
The municipal Tax Department has taken measures to intensify
budget collection, including administrative procedural reforms and expansion
of online tax declaration, said Nguyen Thi Hai Yen, Head of the Department’s
Communication and Support Office.
The Department is also continuing to improve online tax
services with a view to simplify procedures for taxpayers.
Industrial production up 9.1 percent in Q1
The index grew 9.1 percent, compared with 5.3 percent in the
first quarter last year and 4.9 percent in 2013.
GSO analysts attributed the improvement to the industrial
consumption index's strong growth in the first two months of this year. It
rose 14.7 percent on the year, much more than last year's 4.3 percent during
the same period.
The processing and manufacturing sector, which contributed
more than three fourths of overall growth, increased 9.6 percent, as opposed
to 7.4 percent in Q1 last year.
About 61.5 million mobile phones were produced during the
first quarter, doubling last year's output. Meanwhile, production of powdered
milk fell by 16.8 percent.
Other industrial products posting high IIP increases during Q1
included automobiles (52.6 percent), television sets (38.6 percent), food for
aquatic products (27.4 percent), chemical paint (17.2 percent), leather and
footwear (16.3 percent), fresh milk (16.2 percent), rolled steel (12.4
percent) and petroleum (9.8 percent).
Products with low IIP included aquatic products and seafood
(8.9 percent), cement (5.9 percent), coal (3.2 percent) and natural gas (0.2
percent).
Sectors with decreased IIP included sugar (0.1 percent),
clothes (0.3 percent), liquefied gas (6.5 percent) and motorbikes (11.8
percent).
The country's IIP increase is still low compared with increases
of 14 to 16.17 percent before the world economic downturn period.
GSO analysts attributed the slower growth to low product
competitiveness. Fake versions of domestic products were sold at much lower
prices.
Private firms key to growth: MPI Minister
Private enterprises have laid the foundation for and imparted
momentum to the development of
The minister hailed the contributions of businesses while
addressing more than 150 businesses, from both inside and outside the
country, at a discussion on, "Vietnam Economy 2015: Opportunities and
Challenges," held in Hanoi on March 30.
“All businesses, ranging from State-owned enterprises, to
private and foreign direct investors, have played a decisive role in
He wondered why
“The Vietnamese Government is determined to implement reform.
During the past six months, the Prime Minister has taken drastic measures to
improve the country's business environment to reach and exceed the average
level of nations in the ASEAN-6 in 2015 and to achieve the average level of
countries in the ASEAN-4 in terms of some key targets," he added.
Specifically, the time for payment of taxes would be reduced
from the current 800 hours to 300 hours this year and 175 hours next year.
Vinh said the country is facing both opportunities and
challenges.
This year,
Therefore, it is important for the business community to
understand the opportunities and challenges lying ahead and to prepare for
integration. If enterprises did not prepare carefully, they would fail in
their own country, he said.
One of the main challenges
He cited the example of a business from the European Union,
which wanted to purchase products from Vietnamese firms, but local companies
had demanded a commission.
"Enterprises demand transparency from the Government and
management agencies. However, they have to be transparent themselves
too," he said, adding that transparency is a vital requirement for the
progress of the economy.
Vinh confirmed that the Government's reforms will become a
reality and not remain on paper.
Ricky Tan, Chairman of Kinder World, asked how could the time
taken for completing investment procedures be reduced from the current 45 days
to 15 days when it had taken several firms as many as 3-4 years to complete
such formalities.
He suggested a strict mechanism to bring the revised
Investment Law into operation.
"The reduction in time has been a big effort. However,
the decision from the Department of Planning and Investment would not be
applicable only to localities. It would relate to other procedures as well.
This time, we will have to adopt drastic measures to prevent staff from
harassing businesses."
Tran Thanh Trong, General Director of the Sang Ban Mai
Company, said some units required wholly imported products in their bidding.
Minister Vinh said the newly promulgated law on bidding
stipulates that the Government encourage participation of domestic companies
in the bidding.
He asked relevant agencies under the ministry to study the
issue and resolve this shortcoming as soon as possible.
The discussion offered policy makers and businesses a chance
to voice their concerns, thus creating momentum for the economy's
development.
This year is being seen as the year for businesses as the
economy depends heavily on the community.
Business role in knowledge-based economy spotlighted
Scientists, managers and enterprises gathered at a workshop on
March 31 to discuss measures to leverage the strengths of enterprises to make
contributions to the country’s knowledge-based economy.
The event, organised by the National Institute for Science and
Technology Policy and Strategy Studies under Ministry of Science and
Technology, created an opportunity for enterprises to share their experiences
in investment and building intellectual labour to enhance sustainable
development.
In the past decade, the Ministry has deployed a
business-oriented strategy to innovate national technology, considering it a
decisive factor of the economy.
The Ministry has made recommendations to facilitate mechanisms
for enterprises to apply technology in their operations.
Domestic demand drives slow growth: HSBC
According to the report, retail sales expanded 13 percent
year-on-year in February, driven by services and tourism, marking an 11.4
percent increase. Also, imports surged, rising 20.7 percent over the
beginning of the year.
Most of the increase was due to higher input imports,
suggesting that exports will increase in the months ahead. While exports
expanded modestly, at 7.6 percent over the same period last year, the rate of
increase would be positive, overall, considering the downturn of the
commodity cycle.
With the exception of cashew nuts and tea, however, all
commodity exports contracted. What is maintaining the trade figures is
The February PMI mirrors this rising output, despite a decline
in new export orders. In spite of slowing global demand, the country's
exports were expected to rise, thanks to a steady increase of FDI inflows.
Domestic demand will also likely stage a modest recovery.
After a sharp deceleration in 2011, domestic demand has
gradually improved, though it remains weak. The drop in oil prices will
likely boost consumer purchasing power, both directly, due to lower oil and
transportation costs, and indirectly, as producers pass on savings to
consumers by lowering output prices. Gradually rising income is another
reason for improving consumer demand.
HSBC forecast private consumption to accelerate to 5.6 percent
in 2015, from 5.4 percent in 2014.
Insiders seek ways to iron out agricultural export
difficulties
Exporters of agro-forestry-fishery products gathered at a
meeting with State officials on March 30 to seek ways to address difficulties
amid a dramatic fall in the shipment of these commodities during the first
quarter.
From January-March, agro-forestry-fishery exports reached 6.13
billion USD, tumbling 13.2 percent from a year earlier.
Although aquatic exports traditionally contract in the Q1 and
rise in the following months, they plummeted 23 percent during the reviewed
time - the biggest nosedive in the last five years.
Deputy General Secretary of the Vietnam Association for
Seafood Exporters and Producers (VASEP) Nguyen Hoai
Such dramatic declines were attributable to anti-dumping
duties levied on Vietnamese shrimp and tra fish exports in the
Shrimp and tra fish shipments to the
He said the VASEP considers production cost reduction the
essential method to cope with the current export obstacles, but is also
urging additional assistance from the Ministry of Agriculture and Rural
Development (MARD).
The coffee industry is also facing export challenges; during
the reviewed period, the country shipped 350,000 tonnes of coffee worth 734
million USD abroad, down 41.4 percent in volume and 37.3 percent in value.
The Central Highlands, home to the majority of Vietnam’s
coffee growing area, is undergoing a prolonged drought, said the Vietnam
Coffee and Cocoa Association, adding that coffee prices are declining, hindering
farmers and businesses’ efforts to improve production.
It forecasts coffee export prices will continue to decline.
Pepper sales in the first quarter likewise dropped by 23
percent from the same period last year despite an increase in prices, the
Vietnam Pepper Association reported, pointing to the fact that the pepper
cultivation area is rapidly expanding and farmers lack cultivation
experience.
At the meeting, MARD Minister Cao Duc Phat pledged his
ministry will bridge association members with localities applying certified
production practices to improve the value of Vietnamese pepper.
Between January and March, the export of outdoor wooden
furniture destined for
The same trend was recorded in woodchip shipments to
Quyen said though businesses have cooperated with one another
to minimise expenses, the MARD needs to issue policies facilitating companies
to use domestically-sourced materials.
During the function, associations and businesses requested
drastic actions to simplify administrative procedures and agricultural land
use taxation.
Meanwhile, Minister Phat urged businesses to step up trade
promotion to maintain export growth, adding that the MARD will report their
proposals to the Government. He also asked his ministry’s departments to work
with associations and companies to seek measures to streamline export
procedures.
Binh Duong enjoys Q1 trade surplus
Trade surplus in the southern
Exported goods were worth a total of 4.22 billion USD in value,
an annual increase of 15.6 percent. The foreign-invested sector contributed
81.8 percent to the sum, up 16 percent from 2014.
Major exports maintained momentum, including woodwork
products, apparel, footwear, handicrafts and electronic devices.
Meanwhile, Binh Duong imported 3.63 billion USD worth of
commodities, a 15.5 percent rise compared to the same period last year. The
foreign sector accounted for 79.2 percent of total import value.
According to the provincial People's Committee, State
initiatives to clear business hurdles took effect in Q1, with enterprises
recording strong and stable operations.
Most businesses have already signed goods contracts for the
second quarter, while some larger companies have completed deals for the
third quarter.
Binh Duong recorded Q1 industrial production value of almost
50 trillion VND (235.3 million USD), up 11.2 percent year on year.
Also in the reviewed period, the province attracted 321million
USD from foreign direct investment (FDI) in 63 existing and new projects,
bringing the number of FDI projects in Binh Duong so far to 2,449 projects
with the total registered investment to 20.7 billion USD.
The province aims to attract one billion USD from FDI in 2015.
To that end, the province will focus on industries with high levels of
technology and added value, while creating favourable conditions for
investors in terms of site clearance, overall social technological
infrastructure and administrative reform.
During the first months of 2015, several foreign business
groups have conducted field research in the province to seek business
opportunities.
Binh Duong, together with Dong Nai, Tay Ninh, Ba Ria-Vung Tau,
Binh Phuoc, Long An, and Tien Giang provinces, and HCM City, form Vietnam's
southern economic region.
Hai Phong: Volume of goods hit 15.48 million tonnes
The total volume of goods passing through ports in the
northern city of
The Hai Phong Port Joint Stock Company (JSC) make the largest
contributions to the goods transport volume with about 5.33 million tonnes of
goods carried through the port.
According to General Director of the Hai Phong Port JSC Nguyen
Hung Viet, the port has already been determined a key port in the northern
region and plans to continue improving its service quality, administrative
reform and income for staffs.
In an attempt to enhance port management and logistics
service, the
The port has also carried out several projects on
infrastructure, equipment and information technology, including a container
loading project in the Tan Vu Port and a project to build 6 berths, receiving
ships with capacities up to 10,000 TEU at the Hai Phong international Port.
In 2015, the Hai Phong Port JSC aims to transport 20 million
tonnes of cleared goods and earn roughly 1.5 trillion VND (72 million USD).
Hanoi’s export turnover enjoys 4.3 percent rise in Q1
The city’s key exports in the reviewed period included
textiles and garments , processed agro-products and electronics, while its
main markets were
The total sales of goods and services in
Retail sales earned more than 104 trillion VND (4.9 billion
USD), an annual increase of 11.7 percent.
Meanwhile, Q1 export turnover for the entire nation was valued
at 35.7 billion USD, climbing 6.9 percent from 2014. Some commodities saw
observable shipment increases, including telephones & components (21.9
percent) and textiles & garments (7.8 percent).
Demand for food additives rising in Viet Nam
With demand from food and foodstuff producers increasing, the
market for additives in
Speaking with Viet Nam News, Dang Thi Phuong Linh, deputy
director of the Viet Nam Meat Industries Limited Company (Vissan), said last
year her company bought additives for over VND200 billion (US$9.5 million).
"As production keeps increasing, the demand for food
additives also climbs."
For her company it increased by 8-10 per cent a year, she
said.
Very little of the demand in the country is met by local
production, with imports accounting for most of the supply.
Experts said that in modern society, food additives were vital
for chefs and food and beverage producers to develop new products with
improved taste and looks.
An expert on food additives from the
At permitted levels, additives were harmless and there was
huge demand for them, she told Viet Nam News.
Belgium Puratos Grand-Place Indochina, which supplies
materials and additives to many restaurants and bakeries as well as ice cream
makers in
Speaking to Viet Nam News, a company spokesperson said his
company supplied up to 100 additives, and its partners included giants like
Metro, Lotte, Tous Les Jours, and Kido's.
Additives accounted for 3 per cent of its revenues and would
increase, he said.
The company hopes sales of bread additives will soon increase
by 50 per cent.
Seeing the rising demand, tra fish exporter Vinh Hoang Company
has set up a plant to produce gelatine from the skin and bones of the fish it
processes.
UBM Asia, which has organised many exhibitions of food
ingredients in regional countries including Indonesia, decided to organise an
exhibition again in Viet Nam after one last year.
The country had much more potential than any other in the
region, it said. It will now organise the second food ingredients exhibition
in
The exhibition hopes to welcome 150 local and international
ingredient suppliers, up from around 100 last year.
WB
funds planting of industrial trees
The central
Acacia forests that can be harvested for industrial wood after
just three or four years have been planted in the districts of Phong Dien,
Huong Tra, Huong Thuy and Phu Loc.
The World Bank has provided loans to farmers while the
Ministry of Agriculture and Rural Development has given them technical
support for the Forest Section Development Project.
The project grants forest land to farmers to help them escape
from poverty.
"The project has helped facilitate the process of
granting forest land to households and increased forest coverage on the areas
more barren areas," said Tran Hung Long, deputy director of the forestry
and agriculture development unit in Huong Tra District.
Ho Da The, a farmer from Phu Loc District, said he earned
around VND200 million (US$9,300) per hectare over the past eight years after
planting trees.
"It is a sizable amount of money and has helped improve
my family's living conditions," he said.
Farmer Ho Dac Ngu said favourable loans from the project had
allowed him to delay the harvest, which meant better quality wood and higher
prices.
The project has also been carried out in the central provinces
of Thanh Hoa, Nghe An, Quang
The project has cost $100.19 million with more than two thirds
coming from World Bank loans, supported by ODA from the Global Environmental
Facility, the Finnish Trust Fund for Forestry, the European Commission and
the Vietnamese Government.
The Ministry of Agriculture and Rural Development regarded the
project a successful one to reduce deforestation area in the Central region
of
Victoria Kwakwa, World Bank Country Director for
Farmers have also asked for more funding to develop their
forests and plant other species of trees.
LienVietPostBank
targets $44.5 million in 2015 profit
Lien Viet Joint Stock Commercial Bank (LienVietPostBank) aims
to increase its profit 75 per cent to VND936 billion (US$44.5 million) this
year, Board of Directors Vice President Nguyen Duc Huong said at a shareholder
meeting on Saturday.
The bank earned VND535 billion ($25.4 million) in before-tax
profits last year, a decrease of 19.4 per cent over 2013 due to the economy's
slow recovery. The development of new technology and networks caused the
decrease, Huong said.
The bank also increased its allowance to cope with credit
risks and improved its standards on categorising debt, despite keeping a low
bad-debt rate of 1.23 per cent, he said.
The bank had always thought of individuals and organisations
in rural areas as major customers, he said, and many of them needed
preferential interest-rate policies. It allowed rural businesses to make up
40 per cent of total debts.
The bank didn't profit much from this sector, but its customer
base was large and stable, and provided 85 per cent of the bank's total
savings, he said. The bank also aimed to pay dividends at 8 per cent and keep
its bad-debt rate below 3 per cent of total debts, he added.
This year the bank planned to raise its charter capital to
VND9 trillion ($428.5 million) by selling 254 shares at VND10,000 per share,
Huong said. It also wanted to raise its total assets to VND135 trillion ($6.4
billion), including VND115 trillion ($5.47 billion) raised from its
customers, he said.
Last year LienVietPostBank failed to increase its charter
capital from VND6.46 trillion ($307.6 million) to VND6.64 trillion ($316
million) by selling 18.7 million shares at a price of VND10,000 per share to
the Vietnam Post (VNPost), Huong said.
The bank's total assets last year reached VND100 trillion
($4.76 billion), including a raise of VND77.8 trillion ($3.7 billion) from
its custom ers which was an increase of 40 per cent, Huong reported. The
State Bank of Vietnam (SBV) allowed LienVietPostBank to plan for a credit
growth rate this year of 13 per cent.
Investment
in
The total capital invested in export processing zones (EPZs)
and industrial parks (IPs) in
Accordingly, foreign direct investment (FDI) reached 345.5
million USD, up 43.7 percent, while domestic investment accounted for 36.2
million USD, a 118 percent annual increase.
The value of exports of businesses in EPZs and IPs in the
period reached 1.1 billion USD, up 8.61 percent.
Deputy Chief of the HCM City Export Processing and Industrial
Zone Authority (HEPZA) Nguyen Bach Hoang Phung commended the FDI surge in the
municipality despite a nationwide reduction in the past three months.
Meanwhile, two of 22 new licensed projects were put into
operation and another 10 projects are renovating warehouses and preparing to
commence shortly.
In an attempt to magnetize more investment capital, the city
will focus on improving infrastructure in the four industrial parks of Dong
HEPZA will cooperate with relevant bodies to support
enterprise access to concessionary funds, improve technology skills and
bolster administrative reform.
To date, EPZs and IPs in
FECON, Nakheel turning joint ideas into reality
As a leading contractor in foundation works in
In mid-March, Foundation Engineering and Underground
Construction JSC’s (FECON) leadership met with Ali Rashid Lootah, the
chairman of Nakheel Group, one of the world’s leading property and
infrastructure developers. During their meeting in
At the meeting with their foreign counterparts, FECON chairman
Pham Viet Khoa and overseas director Do Tran
For its part, Nakheel shared their specific investment plans,
and introduced a raft of upcoming projects underway in
These open discussions, together with FECON’s proven
commitment to drop anchor in overseas markets, are expected to materialise in
a commitment to cooperate between the two sides.
FECON envisages opening a representative office in
Over recent years, FECON has stepped up its efforts to find
business and investment opportunities as well as up-and-coming partners in
overseas markets. Specifically, the company has given priority to
researching and seeking co-operative opportunities in
Most recently, in November 2014 FECON took part in The Big 5
in
Last year, the company’s total asset value hit nearly VND2.2
trillion ($102.8 million), and its revenue amounted to VND1.354 trillion
($63.2 million). Its post-tax profits surpassed VND135 trillion ($6.3
million) and earning-per-share (EPS) was VND3,042. This year, the company is
set to post the revenue of VND1.8 trillion ($84 million), and profits of
VND160 billion ($7.4 million).
Nakheel Group is one of the top five groups in the UAE in real
estate investment and infrastructure development with an iconic portfolio of
famous artificial island projects like
With an ardent wish to realise the vision of
In
Nakheel Group chairman Ali Rashid Lootah is scheduled to visit
Vietnamese SMEs to take opportunities by moving to e-commerce
The role and trends of e-commerce as well as the benefits of
online trade were the highlights of a recent seminar jointly held by the
Khanh Hoa Association for Information Communication Technology in
collaboration with Mat Bao, one of leading domain registrars in
The seminar- sponsored by VeriSign Inc., a global leader in
domain names and Internet security- aims to support Vietnamese small and
medium-sized enterprises (SMEs) as they take advantage of the growing
e-commerce opportunity in Vietnam.
“Once a business has an official online presence by owning a
domain name, that business can access larger markets, not only in the country
but beyond the boundaries, reaching higher potential growth and increasing
its profits.
“We realise that .com is preferred by e-commerce enterprises
all over the world, for its popularity, availability, reliability and
stability,” said Nguyen Minh Thai, business director at Mat Bao Network.
While there are many domains available, .com is one of the
Internet’s original domains and is the global online standard for doing
business online, with 115.6 million domain names registered worldwide at the
end of 2014, and over 17 years of uninterrupted availability.
The .com is celebrating its 30th anniversary in 2015.
In fact, e-commerce has become a very popular business
application thanks to its unparalleled benefits to firms and potential reach
to their customers.
Nearly three billion people around the world are online today,
and over $1.3 trillion in global e-commerce sales rely on the Internet.
The huge growth of Internet-connected devices, including
mobile application usage, as well as the increasing use of bank cards with
thousands of new cards issued daily in
According to the Department of E-commerce and Information
Technology, in 2014, the total value of an online purchase of a single person
per year was estimated at about $145, and B2C e-commerce sales reached $2.97
billion, which accounted for 2.12 per cent of total retail sales in the
country.
In 2015, e-commerce is expected to account for $4 billion in
sales in
Source :
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Năm, 2 tháng 4, 2015
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