Vietnam
Vietnam raises minimum wage 4th time in 4 years
Another VND220,000 (USD10) will be added to the monthly minimum wage from 1 May in Vietnam, according to a new government decree issued on Thursday.
High inflation drives value growth of motorcycle engine oil market in Vietnam's two key cities to reach nearly USD71m in 2011
Vietnam's double digit inflation has spiked oil prices significantly, propelling a significant 18 percent value growth in the overall motorcycle engine oil market in the country’s two major cities of Ho Chi Minh and Hanoi last year.
Thailand's Pan Rajdhevee enters Vietnam, to open 1st shop in Ho Chi Minh City
Pan Rajdhevee Group, after 34 years in Thailand's domestic market, will spread its wings to Vietnam this year with a joint-venture beauty clinic chain.
The medicated cosmetics manufacturer will own 51 percent of the new venture, P&K Co, which will open its first shop in Ho Chi Minh City. The Vietnamese partner will own the rest.
The move is part of company plans to boost sales in the long term while securing its business on the domestic front, where competition is intensifying.
Vietnam offers companies China alternative
With China's experienced workforce, well-developed supply chain and vast scale, few people believe its position as the world's workshop is under threat. But spiralling wage costs in China have driven a growing number of Labour-intensive manufacturers to switch to countries with lower wages, such as Bangladesh, Indonesia and Vietnam.
Vietnam's retail sales decline 2.5pc in Feb
The value of retail sales and services in Vietnam dropped by 2.5 percent last month compared to January to VND186.463 trillion (USD8.8 billion), announced the General Statistics Office (GSO).
February's total brings the value of retail sales and services to VND380.28 trillion (USD17.29b) in the first two months of this year, a year-on-year increase of 22 percent against the same period last year.
Thailand's CP All to expand its 7-Eleven empire into China and Vietnam
CP All Plc, the Thai operator of 7-Eleven convenience stores, will proceed with expansion plans in China and Vietnam to aid long-term growth.
The company has high potential to get licences to operate 7-Eleven stores in the southern part of China, as the company has showed strong business performance for many years. Moreover, the economy in the south of China is strong and licences are easily obtained.
Vietnam's factories grapple with growing unrest
The number of wildcat strikes in Vietnam doubled last year as workers suffering from Asia's highest inflation rate struggled to obtain better wages.
Vietnam has been successful in recent years in attracting low-cost manufacturers looking to escape rapid wage rises in southern China. But investors now warn that more progress is needed on economic reform and industrial relations if that trend is to continue.
Rolls-Royce eyes Thailand, Vietnam
Ultra-luxury carmaker Rolls-Royce is looking to expand into Thailand and Vietnam, a top executive said recently, after it posted record sales in 2011 with Asia its fastest-growing market.
The German-owned UK carmaker announced on Monday sales jumped 31 percent to 3,538 vehicles last year, up from the 2,711 units in 2010, and was the highest-ever annual total in the company’s 107-year history.
Vietnam's retail value climbs by 24.2pc in 2011
The value of retail sales and services in Vietnam enjoyed a year-on-year increase of 24.2 percent to VND2,004 trillion (USD95.5 billion) in 2011, announced the General Statistics Office.
However, if price increases were included in the figure, the growth was only 4.7 percent compared with 2010, representing the lowest growth rate in the past four years, the office said.
In recent years, the total retail sales value surged by 6 percent in 2007 and 2008, 11 percent in 2009 and 14 percent in 2010.
Vietnam seafood exports rise by 20pc year on year
Vietnam earned USD6 billion from seafood exports last year, representing a yearly rise of 20 percent, exceeding its target of USD5.7 billion, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
