Potential risk of online transaction in Vietnam and its consequences
The 4.0 Industrial Revolution has developed significantly, which results in the transformation and breakthrough of all areas of the globe. Besides, the Internet and social network has got more popular and become an indispensable part of modern life. Online business, therefore, is formed and conducted the most frequently on social networking platforms. In the process of doing online business on this platform, many potential risks arise and depending on the situation, the people taking part in the transaction might need to involve the busines…
Risk Management: A Vital Element When Doing Business
Risk management is a vital element when doing business but so far, not many enterprises concern about it. According to a recent survey with 522 companies, there are only 43 companies, accounting for about 8%, have the independent risk management department in their business. More noteworthy, the majority of these 43 companies operating in the banking and financial sector, which has nothing new to risk management. In fact, not all banks have independent and effective risk management departments. The negative problems related to the banking…
Risk Management: A Vital Element When Doing Business
Risk management is a vital element when doing business but so far, not many enterprises concern about it. According to a recent survey with 522 companies, there are only 43 companies, accounting for about 8%, have the independent risk management department in their business. More noteworthy, the majority of these 43 companies operating in the banking and financial sector, which has nothing new to risk management. In fact, not all banks have independent and effective risk management departments. The negative problems related to the banking…
Risk Management in Enterprise
Risk and manage risk Conceptually, risk is any uncertainty that may be harmful to the ability to successfully implement the business objectives of the enterprise. Businesses can identify potential risks to manage them. Fully understood, risk management is a process of a comprehensive review of the business operations to identify potential risks that may impact adversely to the operational aspects of the business. Based on that, the response solutions will be given corresponding to each risk. We can also understand that the risk management p…
Tips to reduce risks when purchasing medical supplies from Vietnam
As the Covid 19 pandemic is still occurring in many countries around the world, a large number of medical equipment or accessories being Personal Protective Equipment (PPE) such as N95 respirator masks, surgical masks and other items essential to protecting doctors, nurses, others on the front lines of the pandemic are required to be purchased and sold from many different countries to meet the demand for treatment disease globally. Vietnam is a country that has many enterprises producing medical supplies such as medical gloves, medical mask…
How to minimize risks buying from Vietnam sellers in the new era?
Currently, the purchase and sale of international goods are very popular from Vietnam and around the world, taking the advantage of Vietnam the signing a number of Free Trade Agreements (FTAs), and the application of technology 4.0 in the business helping the international transaction of goods just got easier. However there are many risks involved in the meantime for international buyer purchasing goods from Vietnam sellers if due diligence on the seller, whether being corporates or individuals are not under taken. In the international goo…
Startup in Ho Chi Minh City Will Be as Convenient as in Singapore
A series of specific commitments has been confirmed by HCMC’s Party Secretary Nguyen Thien Nhan to help startup environment in HCMC becoming as favorable as in Singapore. The city is committed to preparing an industrial park reserved for newly startup and innovative businesses. Secondly, the procedure for setting up company in Ho Chi Minh City will be as good as in Singapore. Third, in addition to private investment, the city will also, on a case-by-case basis, pilot public-private partnerships in support of innovative entrepreneurship. I…
Toyoda Gosei Invests in Auto Parts Factory in Tien Hai Industrial Park
Toyoda Gosei Group, the world's leading manufacturer of auto parts, supplying for Toyota (Japan) has decided to choose Tien Hai Industrial Park, Viglacera as the location to set up factory in Vietnam . Viglacera Real Estate Trading Company and Toyoda Gosei Group of Japan have just signed a land lease contract with an area of 11.3 hectares in Tien Hai Industrial Park, Thai Binh province, which is invested by Viglacera Corporation. Toyoda Gosei is the world's leading auto parts manufacturer, supplying for Toyota, with a network of ab…
IHI Corporation (Japan) Wants to Participate in Transportation Projects in Hai Phong
Japan is a familiar investor in the Vietnamese market , many Japanese companies have set up business in Vietnam and IHI Corporation is not an exception. Recently, Hai Phong People's Committee has been working with the delegation of IHI Corporation (Japan) to explore opportunities to participate in transportation projects in Hai Phong. At the meeting, Mr Atsushi Kutawa - Managing Director of Operations, President in charge of business of IHI Corporation has talked about the company's business situation with city leaders. In particu…
Tetra Pak Construct 110 Million USD Packaging Factory in Binh Duong
Tetra Pak (Sweden) has started construction of a 110 million USD packaging factory on an area of 10,000 m2 and a total capacity of 20 billion packages per year at Vietnam - Singapore Industrial Park II - A (Binh Duong). This information has been announced since the end of 2016. The factory is expected to come into operation by the beginning of 2019. According to the Deputy Minister of Planning and Investment, this is the factory with largest scale among 54 projects that Sweden investors have invested in Vietnam. Moreover, he affirmed that t…
Signs of possible corporate frauds to notice and avoid
Vietnam has signed many Free Trade Agreements with many countries and regions around the world, which makes international economic exchange easier. However, the expansion of international trade also makes many businesses at risk when they encounter fraudulent customers in their business. According to the Ministry of Industry and Trade, in 2020, the Trade and Embassy of Vietnam in the a number of countries continuously received invitations to sell, buy goods and sign commercial transaction contracts which have signs of fraud and scams. Despi…
Idemisu Q8 - The First 100% Foreign Capital Petrol Station in Hanoi
On October 5 th 2017, at the Thang Long Industrial Park (Hanoi), the opening ceremony of the Idemisu Q8 petrol station was held, marking the first 100% foreign capital petroleum station participating in the Vietnam petroleum retail market. IQ8 is a joint venture between Kuwait International Petroleum (Kuwait) and Idemitsu Kosan (Japan). Based on the experiences that both Kuwait Petroleum and Idemitsu have achieved in Europe and Japan, IQ8 Petroleum Joint Venture is aiming to develop professional petroleum business in Vietnam in the next …
Set-up Business in Vietnam
Foreign investors could make direct investment in Vietnam through setting up one hundred per cent (100%) capital of foreign investors, or establishing joint venture between domestic and foreign investors, or investing in the contractual forms of: BCC, BO, BTO, and BT. Types of enterprise for foreign investors to invest in Vietnam are as following: a) Set-up Limited Liability Company in Vietnam Limited Liability Company is a form of enterprise which is established by contributing of members. A member shall be liable for the debts and …
Set-Up Company in Hanoi
Along with the trend of integration in the world, Vietnam is considered a country with rapid and strong growth, in which, industrialization and modernization are focused on developing a uniform set and achieve high performance. Hanoi and Ho Chi Minh City are considered the two cities and dynamic development in Vietnam. In particular, Hanoi, the potential capital for developing and attracting foreign and domestic investment. Therefore, the investment from businesses to the city is seen as an advantage and the best. To evaluate how such adva…
Anam Electronics (Korea) Build 100-Million-Dollar Factory in Vietnam
A large electronics manufacturer from Korea - Anam Electronics Vietnam has officially choose Dong Van IV industrial park to set up business in Vietnam . After a period of researching investment locations in the North of Vietnam, Anam Electronics Vietnam decided to choose Dong Van IV industrial park as its investment location. Accordingly, Anam Electronics Vietnam will invest in building a factory here with an area of 100,000 m2, investment capital is estimated at 100 million USD. The signing ceremony of land lease contract in Dong Van IV i…
Potentials in Vietnam - Poland Agricultural Cooperation
Both countries have strength in agriculture sector, opening up many prospects for Poland enterprises to set up business in Vietnam and vice versa. Vietnam is one of 14 important markets in the world for enterprises in the Polish food and agriculture sector. Moreover, Vietnam has been identified as a priority market for Poland's future cooperation with wide open opportunities for both sides. Statistics show that from 1993 up to now, two-way trade turnover between Vietnam and Poland has increased continuously and rapidly. From 2001 to 2…
A Chain of 130 Restaurants in Japan Want to Conquer the Vietnamese market
Gyu Shige - a Japanese restaurant brand decided to enter and set up business in Vietnam , aims to open 70 branches in Vietnam in the next 5 years. According to Mr Kentaro Takada, Global Development Director of Gyu Shige Bbq Restaurant chain, after a year of operation in Vietnam, the company aims to set up a chain of 30 branches in 3 years and up to 50 - 70 branches in 5 years. This brand now has 3 stores in Ho Chi Minh City (HCMC). The plan to conquer the Vietnam market of this Japanese brand has been in place for 3 years. Large populati…
Shenzhou Completed Textile Production Chain in Vietnam
Worldon Vietnam Co., Ltd (under Shenzhou Corporation, China) have set up business in Vietnam with 2 large garment projects. It is likely that they will continue to expand its investment. Worldon Vietnam has put the 310 million USD project in Dong Nam Industrial Zone, Cu Chi District, Ho Chi Minh City into production. Earlier, in early 2015, the company was licensed by Ho Chi Minh City for investment project with an additional investment capital of 140 million USD. At the time of raising capital, Mr Ma Jianrong, President of Worldon Vietna…
The Wave of Thai Investors Coming to Vietnam
Many Thai investors have set up business in Vietnam and will not miss the opportunity to participate in auctions to buy shares in state-owned enterprises in the near future. Recently, billionaire Charoen Sirivadhanabhakdi, the owner of TCC Holdings, through its subsidiary has registered to buy 51% of the charter capital of Saigon Alcohol Beer and Beverage Corporation (Sabeco). In the past, TCC bought Metro Vietnam (renamed MM Mega Market), successfully acquired Phu Thai Corporation in the North, holds 19% of Vinamilk shares and owning man…
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