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BUSINESS IN
BRIEF 18/12
Practitioners to discuss personnel changes at roundtable
Prominent practitioners will take the stage at a roundtable at the Saigon Times Group’s meeting hall in HCMC today to discuss adverse impacts of personnel changes and measures to cope with the problem. The roundtable, focusing on personnel changes at companies in a fast-changing world, is among a series of seminars and talks themed “Go with Business” that is organized every two months by the Saigon Times Group in collaboration with partners to support businesses. The meeting today themed “How to stay calm at personnel changes” is jointly held by the Saigon Times Group and ManpowerGroup Experts will discuss reasons for and solutions to personnel changes, with an aim to help businesses effectively survive such changes, and ensure smooth operations and sustainable development. Speakers at the roundtable include seasoned executives such as Cao Thi Ngoc Dung, Chairwoman and General Director of Phu Nhuan Jewelry JSC (PNJ), Tran Bang Viet, CEO of Dong A Solutions, and Le Thi Kim Thuy, HR Director at Bosch Other speakers include Nguyen Thi Ngoc Hue as HR Manager at AEON The event will take place at the head office of Saigon Times Group, An entrepreneur training program of iBosses In To meet demands of parents, young participants from ten years old, students of high schools and universities can also apply for the program. iBosses As for the program of taking care of startups until they get listed on international bourses, iBosses imposes a fee equivalent to 10% of companies’ value. Large steel structure factory inaugurated in Dong Nai 
ATAD Steel Structure Corporation on
December 13 held the inauguration ceremony of a large factory in Long Khanh
Industrial Zone in
The ATAD Dong Nai steel structure factory covers 15 hectares and has a capacity of 8,500 tons per month. It is the largest steel structure factory in The corporation’s second steel structure factory in Nguyen Le Anh Tuan, general director of the corporation, said ATAD offers complete solutions to customers, including consulting, design, fabrication and erection of high-quality pre-engineered steel buildings and steel structure products. The corporation provides full steel structures for factories, warehouses, high-rise buildings, shopping malls, exhibition centers and infrastructure facilities such as railway stations and airports. It has built many steel buildings in 35 countries since its establishment in 2004. Dinh Quoc Thai, chairman of Thai underscored the importance of having sufficient supply of products like those made at the ATAD Dong Nai factory for major projects to be up and running in the province in years to come. The corporation said the ATAD Dong Nai factory was the first steel structure facility in Vietnam and Asia that had gained LEED (Leadership in Energy & Environmental Design) Gold from the U.S. Green Building Council - the gold standard of green building certification. Last September, the council awarded the LEED Platinum certification on ATAD’s Dong Nai factory office and the LEED Gold certification on ATAD’s Dong Nai factory. “This investment is not just to enhance our working environment but also reaffirms our commitment to international customers and business partners,” Tuan of ATAD said. “In recent years, ATAD’s customers have been mainly foreign investors in Experts: HCMC apartment supplies seen rising next year The HCMC real estate market will continue growing with some 40,000 apartments put up for sale next year, mainly mid-end ones, said experts at a conference on the Vietnamese property market in HCMC on December 13. At the conference, Duong Thuy Dung, senior director of property services provider CB Richard Ellis Vietnam (CBRE), said apartment supplies on the local market as a whole would increase as many housing projects are in the pipeline now. However, apartment supplies in Apartment prices would increase 3% over this year, said Dung. Can Van Luc, an economic expert, said the property market would maintain its growth momentum next year due to its positive performance this year. As of September, listed real estate firms had average revenue and profit growth of 40% and 6% respectively. In addition, prices of offices for lease and apartments have increased by 5-10%. Despite the cash flow into the sector is checked, private investment into the property market has surged 60%. Cen Group vice chairman Pham Thanh Hung said the globalization of real estate markets would continue next year as more Vietnamese would buy houses abroad and foreigners would buy more properties in The property market has witnessed a huge number of mergers and acquisitions (M&A) deals this year. However, values of such transactions were not revealed. Pham Xuan Can, chairman of Sohovietnam Real Estate Consulting Company, told the conference that property transactions which have been announced accounts for 20-30% of total M&A deals in the sector. The M&A section next year may offer many opportunities for Vietnamese property firms. Truong Thanh Furniture to work with SAM Holdings One of Vietnam’s largest wooden furniture manufacturers, Truong Thanh Furniture (TTF), has signed a cooperation agreement with materials supplier SAM Holdings (Stock code SAM) on supplying materials and services. TTF and SAM are related businesses, as Mr. Hoang The Quang is a Board Member of the former and Deputy CEO of the latter. SAM is engaged in the manufacture and trading of cables, telecommunications materials, and wooden materials, construction, real estate, golf courses, accommodation, and tourism. In the first nine months of this year its revenue reached VND1.52 trillion ($66.8 million), an increase of VND210 billion ($9.24 million) over the same period last year. After-tax profit was nearly VND49 billion ($2.15 million). Total assets as at September 30 stood at nearly VND4 trillion ($176 million). TFF is engaged in the manufacture and sale of wooden furniture and floorings in Revenue in the first nine months of this year was VND756 billion ($33.2 million) and after-tax profit more than VND4 billion ($176,000). As at the end of the third quarter, remarkably, TFF also recorded nearly VND1.4 trillion ($61.6 million) in accumulated losses. The company’s consolidated financial statement for 2016’s fourth quarter shows a total loss of VND145 billion ($6.4 million), bringing its full year losses to VND1.63 trillion ($72 million), of which its cumulative losses amounted to VND1.768 trillion ($7.8 million). Moreover, the company had negative owner’s equity of more than VND195 billion ($8.6 million) as at December 31, 2016. Human resources key to development South Korea and Vietnam continue to share views and strengthen the development of their strategic partnership in all aspects, especially in the fields of development, management, and the use of high-quality human resources to address the fourth industrial revolution (Industry 4.0) in Vietnam and internationally, the Global HR Forum 2017, with the theme “Miracle on the Han River to Miracle on the Red River”, held by South Korea’s Ministry of Education, Vietnam’s Ministry of Education and Training, and The Korea Economic Daily on December 14 and 15, heard. Mr. Kim Sang-kon, South Korean experts and scientists shared the lessons that led their country from a poor country in the late 1950s to become an Asian dragon in the early 1990s: the “Miracle on the Minister Nha told the gathering that in a bilateral meeting with State President Tran Dai Quang at the APEC Summit in “ Addressing the forum, Mr. Kim Sang-kon said he hopes that the Global HR Forum will allow the two countries to identify ways to cooperate in education and training and strengthen the close cooperation in economics, culture, and society. Through discussions, parties will jointly identify the opportunities and challenges for the development of high quality human resources and propose appropriate solutions to meet human resources requirements in the new era and improve the quality of human resources in In the context of the fourth industrial revolution, the demand for human resources development is facing new challenges. The rapid development of technology changes the nature of some types of work, minimizing the number of steps through automation. Some human labor is replaced by mechanical and artificial intelligence. Countries need to develop a high quality human resources strategy for technical skills, social skills, and cognitive skills. Growth continuing in FMCG Mr. David Anjoubault, General Manager of Kantar Worldpanel In Urban, Carbonated Soft Drinks (CSD) and Energy Drinks have recruited buyers since the beginning of the year, mostly driven by the market leaders. The Urban 4 cities include Ho Chi Minh, In Rural, Tonic Food Drink liquid is developing very well. The category has not only seen its buyer base expand but also increased consumption. Its success is attributed to the widening distribution network reaching every corner of Rural areas. Non-food sectors are retaining their momentum, especially Personal Care categories. Beverage is now leading in growth in Urban once again while Dairy has shown a slight increase in Rural partly thanks to milk-based products such as cup yogurt and cream desserts. However, Dairy in Urban and Packaged Foods in Rural are still suffering from falls in volume consumption. Modern Trade maintains healthy growth, from bricks & mortar stores (both big and small formats) to online channels. On top of that, Minimarkets, Convenience Stores and online shopping are getting more and more familiar among shoppers and are gaining more ground in Urban. A fifth of Rural shoppers now shop at medium-sized street shops for a larger range of products and choices, which is a good sign for further expansion of this channel in Rural. While Private Label accounts for 20-30 per cent of total retail sales in the Kantar Worldpanel is the world leading market research company in consumer knowledge and insights based on continuous consumer panels. Combining market monitoring, advanced analytics and tailored market research solutions, Kantar Worldpanel delivers both the big picture and the fine detail that inspire successful actions by clients. With over 60 years of experience, a team of 3,000, and services covering more than 50 countries directly or through partners, it delivers High Definition Inspiration™ in fields as diverse as FMCG, impulse products, fashion, baby, telecommunications, and entertainment, among many others. Consumption Promotion Fair 2017 on horizon The Consumption Promotion Fair 2017 will wrap up the “Promotion Month 2017” and aims to stimulate consumption power and meet consumption demand in This year’s fair will see the participation of 280 enterprises from the city with more than 460 booths presenting consumer goods such as food and beverages, fashion, textiles, footwear, automobiles, electronics, telecommunications, home appliances, handicrafts, cosmetics, furniture, tourism, and real estate, with various promotions also being held. Over 10,000 products will be introduced to consumers and opportunities will be available to exchange information between enterprises and customers. The event is being organized by the It therefore supports enterprises in improving their competitiveness, raising production and business, promoting products and brands, and improving consumer awareness about Vietnamese goods. The organizing board will also display counterfeit goods and explain how to identify genuine goods. Awareness will be raised about the elimination of counterfeits and violations of intellectual property. Sponsors include the Saigon Alcohol Beer and Beverage Corporation (Sabeco), the Binh Dien Fertilizer Joint Stock Company, the Vietnam Brewery Company Limited, the Vissan Joint Stock Company, and the Minh Long I Company Limited. Last year’s Consumption Promotion Fair welcomed 320 enterprises with more than 600 booths in various fields. FPT Software & Airbus cooperate in aviation technology FPT Software and Airbus signed a Letter of Intent (LoI) on December 14 in FPT Software, in the short term, will look to create a pool of up to 500 developers and train them in how to utilize Skywise in developing solutions to improve business efficiency in the aviation industry. The training courses on the Skywise platform will then be expanded to Airbus customers and Skywise users. “Skywise, ‘the beating heart of aviation’, is a strategic initiative at the core of Airbus’s digital transformation and a game changer for the entire industry,” said Mr. Marc Fontaine, Digital Transformation Officer at Airbus. “As part of this open and innovative ecosystem, we are happy to engage with FPT as one of the partners that will help us take this challenging endeavor further.” “The cooperation agreement with Airbus on the Skywise Data Platform marks a significant milestone of FPT in its journey to become a trusted partner of leading global technology corporations in developing and implementing their digital platforms,” said Mr. Truong Gia Binh, FPT Chairman. “With strong expertise in the aviation industry, we commit to investing resources in order to develop Airbus’s Skywise as well as other aviation technology services and solutions.” The cooperation between FPT Software and Airbus will also cover matters such as the provision of API for third parties to develop applications on Skywise, the migration of applications onto Skywise, and the maintenance of Skywise applications. The two companies also agreed to investigate how FPT Software may help developing technology services and solutions for Airbus in innovative application development, predictive maintenance applications, cloud, data analysis, micro services/API design, and development from existing components. Airbus launched Skywise in June. The platform gathers aviation data from various sources such as work orders, components consumption, components data, aircraft / fleet configuration, on-board sensor data, and flight schedules into one cloud-based platform, enabling users to access a single point and gain deeper data insights. With an ability to interpret large sets of fleet and flight operations data, Skywise can also help airlines improve business efficiency by reducing flight disruptions, cutting maintenance costs through predictive maintenance, optimizing flight operations, transforming cabin and ground operations, making faster decisions to cope with unexpected events, and optimizing fleet management. FPT Software has years of experience in the aviation industry, cooperating with the largest airlines in the Since 2013, FPT Software has been Vietnam Airlines’ strategic partner in providing services and solutions on mobile devices, website development, e-commerce, cloud computing, security, big data, hosting/data centers, international and domestic transmission, internet services, and ERP, among others. More recently, in July, it became a partner of Siemens in the MindSphere IoT Operating System. Southern region leads in green growth action plans The southern region is leading the country in promulgating action plans to promote green growth, an expert said at a review conference on the implementation of the Vietnam Green Growth Strategy held in Ho Chi Minh City on December 14. Le Duc Chung, a senior expert of the project, noted that 12 out of the 17 cities and provinces in the southern region have built action plans to realise the strategy – which aims to reduce greenhouse gas emissions via “greening” production and adopting “green” lifestyles. Other experts at the event recognised positive changes brought by the green growth strategy in localities in the south, including cities and provinces in the southeastern and southwestern regions. After five years of implementation, the strategy is on the right track with positive outcomes recorded, Chung said, adding that Dong Nai is a leading locality in the field. Deputy director of Dong Nai’s Department of Planning and Investment Nguyen Huu Nguyen said at the beginning of 2013, his province built an action plan to implement the strategy and raised public awareness of green growth and environmental protection. Dong Nai has a lot of potential to develop industry with 32 industrial parks, including 31 operational ones. Therefore, the province has concentrated on “greening production” through strict assessment of environmental protection in investment projects to make sure all industrial parks have effective waste treatment systems, he said. The high-tech and green industrial products make up about 40 percent of gross regional domestic product (GRDP) while more than 85 percent of business manufacturing facilities have met environment standards and over 70 percent of firms applied clean technologies, he cited. To reduce greenhouse gas emissions, the locality plans to close brick-kilns in residential quarters and those using fossil fuel materials at the end of this year. Local authorities will encourage people to use non-baked bricks. Simultaneously, the province has invested in developing public transport services, improving treatment of waste discharged from hospitals and industrial parks and maintaining forest coverage of over 50 percent. Meanwhile, Ben Tre province is focusing on greening agricultural production and promoting renewable energy and biodiversity preservation. Deputy director of the provincial Department of Planning and Investment Chau Van Binh said the province has carried out an action plan for green growth since late 2015. Increasing competitiveness and applying the latest technologies in production are among measures to reduce greenhouse gas emissions and improve the natural environment, he said. Added to this is making effective use of natural resources and promoting environmentally friendly lifestyles, he added. Specifically, the province warned people to limit the use of chemical fertilisers and pesticides and encouraged them to increase areas used to grow clean vegetables to nearly 200 hectares and fruit to 280 hectares and build a disease-free shrimp breeding area of 100 hectares. Despite positive changes, experts said it’s necessary to devise mechanisms to mobilise social capital to promote green growth in southern localities. Deputy Head of the Department of Science, Education, Natural Resources and Environment under the Ministry of Planning and Investment Nguyen Thi Minh Hien said promoting green growth is key to achieving sustainable development. Therefore, the ministry pledged to provide maximum support for southern localities to build and implement action plans for green growth targets, she added. Fourteen smart city-related companies will highlight Consul General Mary Tarnowka from the US Consulate General in The delegation of 27 The delegation is comprised of representatives from US firms like Honeywell, KPMG, Microsoft, Uber Technologies, Baker & McKenzie, Dell, Qualcomm, 3M, Alta Planning + Design, Arcadis, HACH, Koolspan, Palo Alto Networks, and Xylem. " On the same note, US Embassy Commercial Counsellor Stuart Schaag commented, “I am confident that this week’s events will help US delegates learn more about each city’s smart city objectives and unique needs, and showcase to city officials and local businesses not only some of the best US technology and services in the smart city area, but US firms’ desire to develop relationships in Vietnam that can create win-win-win solutions for the city, industry, and most importantly, its citizens.” During the trip, the delegation will meet with government officials from Danang, Khanh Hoa and Thua Thien-Hue provinces for a series of meetings. Presentations from city leaders and heads of relevant departments, such as information and communications, transportation, health and planning, will expose US firms to the unique challenges that each city faces in dealing with rapid urbanisation and efficiently managing services offered to citizens and visitors. US delegates will then present their smart city solutions, as well as share best practices from the GDP growth increasingly dependent on labour productivity Against the context that all the Vietnam's development factors are limiting, GDP growth seems to increasingly dependent on labour productivity. According to Dr Nguyen Dinh Cung, director of the Central Institute for Economic Management (CIEM), while Data of the General Statistics Office shows that Vietnam's labour productivity is still low compared to other countries in the region, reaching $9,894 in 2016, equaling 7 per cent of Singapore, 17.6 per cent of Malaysia, 36.5 per cent of Thailand, 42.3 per cent of Indonesia, 56.7 per cent of the Philippines and 87.4 per cent of Laos. "It should increase by at least 6 per cent per year to reach the growth target. Labour productivity has increased mainly due to economic structural adjustments, while the increase in sectoral productivity is lower than in previous periods," Cung said. The increasing rate of added value in the private sector is relatively high and has been continuously improving in recent years. However, it has not attracted more labour or created more jobs. The state economic sector's efficiency is lower, but its size has not been significantly reduced, according to Cung. Investment efficiency in agriculture is high, but the volume of investment capital has not been growing accordingly. Vietnamese enterprises have high capital intensity, but capital productivity is the lowest in the region, as capital is not channelled into technological innovation. The concentration of capital is not linked with labour productivity, mainly due to the low-performing SOE sector. In order to help Vietnam overcome the challenges in terms of the productivity and increase the competitiveness of the economy, the Australian government pledged to provide $5 million to support the Vietnamese government to achieve its targets for improving the business environment and move Vietnam towards becoming a more market-oriented economy. This programme that will last for four years (Aus4Reform) will assist the development and implementation of economic policies, laws, and institutions critical to helping the Vietnamese economy to meet its potential. The initiative will also build linkages between Australian and Vietnamese institutions to share expertise and experiences. “ Aus4Reform brings together Aus4Reform builds on the reform momentum achieved through previous Australian support programmes, including “Beyond WTO” and “Restructuring for a more competitive Dong Nai exports more than 800 tons of pepper to The Lam San Cooperative in Cam My district, southern Nguyen Ngoc Luan, director of Lam San Cooperative, said they began delivering exports of pepper to the European market in 2015. The Cooperative coordinated with 1,500 households to ensure a stable supply of large shipments of peppercorns at the required quality standards, which has allowed them to sign long-term export contracts. One shortcoming of Vietnamese pepper products is pesticide residue, which the Cooperative is seeking to resolve by providing farmers with essential agricultural knowledge, modern farming techniques, and proper practices for pesticide and fertilizer use. The Cooperative is negotiating with partners from the EU to sign export contracts worth around 1,500 tons of pepper to the The Lam San Cooperative is the first Vietnamese company to export pepper to the EU. There are approximately 15,000ha of pepper trees in Dong Nai at present, mainly in Transport development serves Vietnam-China economic corridor cooperation The Hanoi-Hai Phong expressway, Tan Vu-Lach Huyen route, and Dinh Vu-Cat Hai sea-crossing bridge have been connected to the Hanoi-Lao Cai expressway shortening travel time from Lao Cai to Hai Phong international gateway port to 6 hours. In addition to 42 ports stretching along an 11 km pier, the It was designed to accommodate ships of 100,000 DWT and will enable direct exports to Europe and Nguyen Xuan Binh, Vice Chairman of the Hai Phong Municipal People’s Committee said “Hai Phong is an important traffic hub connecting Mr. To Quoc Tuan, Vietnamese General Consul in “If upgraded, the transport infrastructure will boost cooperation between Vietnamese localities and those in The Beilun Bridge 2 at the Mong Cai border gate, Quang Ninh province was inaugurated in September. Once the Hai Phong-Ha Long expressway is completed, traffic will be connected between GDP growth increasingly dependent on labour productivity Against the context that all the Vietnam's development factors are limiting, GDP growth seems to increasingly dependent on labour productivity. According to Dr Nguyen Dinh Cung, director of the Central Institute for Economic Management (CIEM), while Data of the General Statistics Office shows that Vietnam's labour productivity is still low compared to other countries in the region, reaching $9,894 in 2016, equaling 7 per cent of Singapore, 17.6 per cent of Malaysia, 36.5 per cent of Thailand, 42.3 per cent of Indonesia, 56.7 per cent of the Philippines and 87.4 per cent of Laos. "It should increase by at least 6 per cent per year to reach the growth target. Labour productivity has increased mainly due to economic structural adjustments, while the increase in sectoral productivity is lower than in previous periods," Cung said. The increasing rate of added value in the private sector is relatively high and has been continuously improving in recent years. However, it has not attracted more labour or created more jobs. The state economic sector's efficiency is lower, but its size has not been significantly reduced, according to Cung. Investment efficiency in agriculture is high, but the volume of investment capital has not been growing accordingly. Vietnamese enterprises have high capital intensity, but capital productivity is the lowest in the region, as capital is not channelled into technological innovation. The concentration of capital is not linked with labour productivity, mainly due to the low-performing SOE sector. In order to help Vietnam overcome the challenges in terms of the productivity and increase the competitiveness of the economy, the Australian government pledged to provide $5 million to support the Vietnamese government to achieve its targets for improving the business environment and move Vietnam towards becoming a more market-oriented economy. This programme that will last for four years (Aus4Reform) will assist the development and implementation of economic policies, laws, and institutions critical to helping the Vietnamese economy to meet its potential. The initiative will also build linkages between Australian and Vietnamese institutions to share expertise and experiences. “ Aus4Reform brings together Aus4Reform builds on the reform momentum achieved through previous Australian support programmes, including “Beyond WTO” and “Restructuring for a more competitive KIDO signs strategic sugar partnership with Thanh Thanh Cong KIDO Corporation (KDC) has teamed up with TTC Group to produce and distribute sugar. kido signs strategic sugar partnership with thanh thanh cong hinh 0 The two have recently signed a strategic partnership in Ho Chi Minh City to increase presence in the market. Accordingly, KDC will distribute 60,000 tonnes of Bien Hoa Sugar in 2018. The sum is projected to reach 200,000 tonnes by 2020. Under the plan, KDC will exclusively distribute some of TTC’s refined sugar products via its network of 200 distributors and 450,000 retail points. In addition to distribution, KDC will be responsible for achieving annual sales targets and expanding product coverage. Meanwhile, TTC will produce sugar and grant distribution rights over some of its products to KDC. Dang Van Thanh, chairman of TTC, said that KDC has achieved impressive an performance with charter capital of over VND2.5 trillion ($110 million) and equity of VND8 trillion ($352 million). In addition to its strong financial capability, KDC has been active in the equitisation process. The company now has 10 subsidiaries and six affiliated companies. Bien Hoa Daily White Sugar will be the first TTC product distributed by KDC. In the first phase starting from January 2018, KDC will display Bien Hoa Daily White Sugar on its shelves across the country with a yearly sales target in mind. TTC will start the distribution of Bien Hoa Daily White Sugar in its chain from December 20, 2017. For the second phase, TTC will give KDC franchise rights to produce a number of exclusive sugar products. The tie-up will diversify KDC’s portfolio of consumer products from instant noodles, dipping sauces, and beverage to sugar. The company will also optimise its logistics operations by transporting more essential consumer products with each ride. Moving forward, KDC will utilise its cooking oil distribution network to sell instant noodles, dipping sauces, and beverages, following sugar distribution. KDC and TTC will explore new ways to do business in the second phase. KDC currently operates six factories specialised in frozen food, ice cream, and cooking oil. Meanwhile, TTC has six sugar mills in the central region, the Central Highlands, the south-eastern region, and TTTC Tay Ninh Sugar has recently merged with Bien Hoa Sugar to create the biggest sugar producer Specifically, the TTC Tay Ninh factory will raise its annual processing capacity from 200,000 to 300,000 tonnes. Meanwhile, the Bien Hoa-Ninh Hoa factory will increase its annual processing capacity from 100,000 tonnes to 180,000 tonnes. The expansion plan has a total investment capital of VND368 billion ($16.19 million). Tran Que Trang, deputy general director of TTC, is upbeat about the outlook of the domestic sugar market. Direct sugar consumption in According to Trang, Bien Hoa Sugar has distributed 10,000 tonnes of sugar since 2010. The firm plans to increase the output to 100,000 tonnes of sugar in 2017 and expects to reach an annual output of 1 million tonnes in the coming time. TTC is currently holding 40 per cent of the local sugar market with VND22.64 trillion ($996.16 million) in revenue and VND1.5 trillion ($66 million) in profit. Many types of fruit suitable for year round cultivation in According to the Ministry of Agriculture and Rural Development, the country’s total fruit and vegetable exports hit a record high of more than US$3.1 billion this year, a year-on-year rise of 43% with the key markets being China, Japan, the US, and the Republic of Korea, which are among 86 countries importing Vietnamese fruit. The value of fruit exports has seen a rise of more than 120% per year yet the amount imported remains unfavourably high. This year, According to Nguyen Hong Son, head of the Plantation Department under the Ministry of Agriculture and Rural Development, the fruit and vegetable sector should make greater efforts to reduce imports and stimulate exports in the future as Vietnam still has to import some kinds of fruit from Thailand, China, the US, Australia, and South Africa. While export growth is always higher than import growth, the rate of fruit imports is showing a steady increase, Mr Son says. VIETBUILD Home expo to showcase household stuff VIETBUILD Home, the annual exhibition on housing, home decoration and household appliances, will be held in This year the event will feature about 2,000 booths, over 30 per cent higher than last year, set up by more than 450 exhibitors from 12 countries and territories, including the US, Italy, France, Germany, the UK, South Korea, Japan, Singapore, China, and Viet Nam. They will exhibit a wide range of new products related to construction, intelligent housing systems, and interior and exterior decoration besides household equipment like air conditioners, kitchen utensils and more. There will be property transaction floors selling low-income housing and listing incentives. A workshop on “Unbaked construction materials – green construction materials for green projects”, business forums and a customers’ conference will also be held to help businesses understand more about market demands. Nguyen Tran The event is therefore well-timed, he added. The expo will be held at the Saigon Exhibition and Convention Centre in District 7. Viettel Global posts surge in profit Viettel Global Investment JSC, a subsidiary of military-run telecom Viettel Group, posted a surging gross profit margin of VND2.9 trillion (US$128 million). The profit, recorded in the first nine months of the year, represented a 135 per cent year-on-year increase. Viettel Global on Thursday said in the nine-month period, its revenue was around VND13 trillion, increasing 19 per cent from the same period last year. In the third quarter alone, its total revenue was VND4.2 trillion, up 8 per cent from the corresponding period last year. Notably, its gross profit margin rose by 29 per cent from VND463 billion to VND1.23 trillion in the quarter. Its management board approved its plan to list on the Unlisted Public Company Market (UPCoM). The company, with VND50 trillion in total assets, will trade nearly 2.24 million shares on UPCoM. Starting its overseas investment activities since 2006, Viettel Global has nine international markets, including Currently, Viettel’s profit from overseas investment mainly comes from Viettel Global and Viettel Viettel has held the leading position in 5 out of 10 foreign markets in terms of market share. All of its foreign markets reported a profit after three years of operation. The number of Viettel’s mobile phone subscribers was more than 35 million in overseas markets, among its total 100 million ones. Viettel was also listed in the top 30 IT groups with the largest number of customers in the world, thanks to the expansion of investment to foreign countries. |
Thứ Hai, 18 tháng 12, 2017
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