Nation ‘stands out’ as Asian leader in growth (24-04-2007) Delegates at yesterday’s Viet Nam Economic Forum are convinced Asia will be the next world leader in terms of economic development, growth and sustainability but the road ahead is littered with regional challenges. Workers of Global Sourcenet Ltd in the northern province of Hung Yen sew export products.— VNA/VNS Photo Tran Tong S Iswaran, Minister of State for Trade and Industry, Singapore Asia looks set to transform itself and the world in this century. It is one of the leading drivers of the world economy, backed by the traditional powerhouse nations and the new emerging economies. Today, Asia accounts for more than 35 per cent of the global GDP. The Asian Development Bank forecasts developing Asian economies to expand at 7.6 per cent in 2007 and 7.7 per cent in 2008. This would be underpinned by the phenomenal growth of China and India, which accounted for about 70 per cent of the economic … [Read more...] about Nation ‘stands out’ as Asian leader in growth
Value chain vs supply chain
VietNamNet Bridge – “FDI-driven economy” is the phrase used by many economists at recent business forums, meaning that foreign direct investment (FDI) is the major motive power for the national economy. FIEs leading in production and export Samsung Electronics Vietnam, a South Korean-invested company, reportedly exported $23 billion worth of products in 2013, putting phone and phone accessories into the Number 1 position among the major export items. A report of the General Department of Customs showed that foreign-invested enterprises (FIEs) year after year make up a higher value of xports than the domestic-invested enterprises. In 2013, the export revenue earned by FIEs accounted for 67 percent of total export revenue. The report also pointed out that the export growth rate created by FIEs has been continually higher than domestic enterprises, 22.4 percent vs 3.5 percent in 2013. While domestic enterprises cannot earn big money from exports, they spend … [Read more...] about The FDI-driven economy?
Beverage cans plant opens in Danang Crown Danang Beverage Packaging Co., a member of the U.S.-based Crown Holding Inc., on Wednesday opened a beverage can plant worth over US$40 million in Danang City. Constructed on an area of 3.6 hectares in Lien Chieu Industrial Park, the plant can produce over 700 million cans annually. Crown Danang Beverage Packaging Co. is supplier of aluminum cans for VBL Danang Co., Saigon Beer-Alcohol-Beverage Corp., the plant of Suntory Pepsico in Quang Nam Province, the plant of Coca-Cola in Danang, the Dung Quat beer plant in Quang Ngai Province and other beer and beverage companies in the central region. According to Lien Chieu Industrial Park’s investor, the Crown beverage can plant is the biggest foreign direct investment (FDI) project at the industrial park. After this huge project, more potential FDI projects are expected to come to the industrial park in the coming time. Firms with bad debt can still seek new loans Those businesses in HCMC … [Read more...] about BUSINESS IN BRIEF 11/11
The new quarterly HSBC Trade Connections world trade forecaster predicts Vietnam trade volume will grow by 144% to the end of 2025, from the current value of US$108.1 billion to US$282.5 billion. Egypt, India, Vietnam, Indonesia and mainland China are amongst the top five international powerhouses which will drive world trade growth until 2025. Asia trade volumes is envisaged to grow 96% to nearly US$14 trillion by 2025 and will be the key driver of world trade growth which is predicted to increase by 73% in the same period. The HSBC Trade Connections report also revealed Vietnam confidence index remains positive, ranking 7th in the global confidence index and 3rd in Asia confidence Index: 115 vs 116 first half of 2011(1H11). Asian traders reported a dip of 3 index points, in line with the views reported by global traders (-2 index points) from the 1H11, indicating that despite indications of long term growth, traders are expecting global economic headwinds to impact global trade over … [Read more...] about HSBC: Vietnam to be among top 5 international powerhouses