pretty much every so called made in vietnam are all the froeign invested factory from taiwan from china, from south korea, from japan, its pretty funny a vietnamese are so proud of their so called economy made by foreigners , lol
Vietnam Economy Forum
- Thread starter Viet
- Start date
we do what other countries in the region ASEAN did in the past, he he. Taiwan and China was in same way. Developing is made step by step, no big jump forward can not help.
nufix
SENIOR MEMBER
- Joined
- Nov 5, 2012
- Messages
- 2,062
- Reaction score
- 5
- Country
- Location
That's right, Indonesia did the same thing back in 1970's. But the thing that Vietnam should aware is the global slowdown. In 1970's Indonesia, Malaysia, and Thailand did the same thing as Vietnam does nowadays, attracting foreign investors to boost the economy and when Asia was facing financial crisis in 1998, countries that had relied on foreign investment fell into the same hole, stake outflow. Started from Thailand, Malaysia, and finally Indonesia like domino, and since then Thailand, Malaysia, and Indonesia are no longer relying on foreign investment and their economy is doing well, better than when they were still relying on foreign investment.Vietnam should be careful to play the economy that driven by foreign investment, the price that you should pay is always cheap labors, and when those laborers strike the government to increase the minimum wage, it's a sign for foreign investor to pack their things and move to other cheap labors source. Hope for the best for Vietnam !
nufix
SENIOR MEMBER
- Joined
- Nov 5, 2012
- Messages
- 2,062
- Reaction score
- 5
- Country
- Location
Indonesia's Semen Gresik Acquires Vietnam's Thang Long Cement
State-Owned Enterprises Minister Dahlan Iskan explores the Thang Long cement factory in Quang Ninh, Vietnam on Tuesday. State-owned cement factory Semen Gresik (Persero) Tbk has acquired 70 percent of Thang Long Cement Joint Stock Company’s (TLCC) shares worth US$157 million. Semen Gresik aims to be the biggest state-owned enterprise within the next five years. (JP/Indra Harsaputra)
JAKARTA: PT Semen Gresik Tbk is eyeing 60%-80% of Vietnam-based cement manufacturer Thang Long Cement Company.
The SMGR-coded company will finalize the acquisition over the subsidiary of Hanoi General Export Import Joint Stock Company (GELEXIMCO) on December 18, said SMGR’s President Director Dwi Soetjipto.
SMGR has signed a conditional sale purchase agreement last month to take over most of Thang Long Cement Company shares. Dwi refused to detail the total figure and investment.
“We will acquire more than 60% but less than 80%. After we seal the agreement on December 18, We will announce the details,” he told BIsnis, Tuesday (12/13).
SMGR has prepared internal cash as much as US$200 million- US$300 million for regional expansion in the next three years. Besides Vietnam, the Company is also planning to expand to Myanmar.
As for Myanmar, the state-controlled cement manufacturer will construct a new plant in cooperation with local partner in the second half of 2013.
“We might establish a joint venture.”
The expansion is a strategic move to become a leader in regional cement markets and become the first step for SMGR to expand outside Indonesia, explained Dwi.
Based on Bisnis’s data, Thang Long Cement Company has 2.3 million ton production capacity and owns two permits to construct new plants in Quang Ninh and Binc Phuoc, Vietnam. (t05/msw)
Semen Gresik Acquires Thang Long Cement - Bisnis.com
Intra-Region cooperation like this should be the main goal for Indonesia's companies as more and more South East Asian countries are growing rapidly, especially Vietnam.
State-Owned Enterprises Minister Dahlan Iskan explores the Thang Long cement factory in Quang Ninh, Vietnam on Tuesday. State-owned cement factory Semen Gresik (Persero) Tbk has acquired 70 percent of Thang Long Cement Joint Stock Company’s (TLCC) shares worth US$157 million. Semen Gresik aims to be the biggest state-owned enterprise within the next five years. (JP/Indra Harsaputra)
JAKARTA: PT Semen Gresik Tbk is eyeing 60%-80% of Vietnam-based cement manufacturer Thang Long Cement Company.
The SMGR-coded company will finalize the acquisition over the subsidiary of Hanoi General Export Import Joint Stock Company (GELEXIMCO) on December 18, said SMGR’s President Director Dwi Soetjipto.
SMGR has signed a conditional sale purchase agreement last month to take over most of Thang Long Cement Company shares. Dwi refused to detail the total figure and investment.
“We will acquire more than 60% but less than 80%. After we seal the agreement on December 18, We will announce the details,” he told BIsnis, Tuesday (12/13).
SMGR has prepared internal cash as much as US$200 million- US$300 million for regional expansion in the next three years. Besides Vietnam, the Company is also planning to expand to Myanmar.
As for Myanmar, the state-controlled cement manufacturer will construct a new plant in cooperation with local partner in the second half of 2013.
“We might establish a joint venture.”
The expansion is a strategic move to become a leader in regional cement markets and become the first step for SMGR to expand outside Indonesia, explained Dwi.
Based on Bisnis’s data, Thang Long Cement Company has 2.3 million ton production capacity and owns two permits to construct new plants in Quang Ninh and Binc Phuoc, Vietnam. (t05/msw)
Semen Gresik Acquires Thang Long Cement - Bisnis.com
Intra-Region cooperation like this should be the main goal for Indonesia's companies as more and more South East Asian countries are growing rapidly, especially Vietnam.
ahfatzia
SENIOR MEMBER
- Joined
- Feb 22, 2012
- Messages
- 2,521
- Reaction score
- 0
A cadre's views
On the Party: "Comrades now working don't yet have a pension but sooner or later, we'll all be eligible for our retirement pay, and we hope every one of us will draw it in full. I'm explaining this so that each of you realizes that defending our nation and socialist ideology covers a lot of things, and among these is the very practical fact that we are protecting our own pensions and the pensions of those who will come after us... So, I have to say clearly, we must do everything we can to protect our socialist Vietnamese regime at all costs."
On the United States: "To tell the truth, the US is implementing a two-faced policy. One face uses Vietnam as an advanced force to block China. The other face employs every means to destroy the long-standing solidarity between the people of Vietnam and the people of China. ... The Americans really want to set up a naval base at Cam Ranh Bay, one of the three best harbors in the world. ... The Americans are pushing a strategy of 'peaceful change' [of the Vietnamese regime] and they seek to implement it through 'educational cooperation' with us."
On Russia: "Resurgent, with an economy powered by endless reserves of oil and gas and cutting edge defense industries, what does Russia want of us?... It is intent on returning to East Asia. In the past, Russia gave strong support to our army and navy. Now through us, they see a way back to the region. The Russians have a high opinion of Vietnam. They see us as loyal and faithful. ... and like the Americans, they really want us to rent Cam Ranh Bay to them. ... which of course we're not going to do."
On Iran: "There are 1.1 billion Muslims between us and Europe. They are warrior peoples... who want to remold the world according to Allah's plan. Now the Islamic Republic of Iran is determined to pursue its nuclear development plan to secure a peaceful environment. I won't go into whether Iran is building nuclear weapons or not... but certainly the Iranians have enough strength to defend their interests."
On North Korea: "Its people are economically poor, but overflowing with love of country, like us Vietnamese in the 1960s and '70s. They're on a war footing. They launch rockets ... and get respect. Whatever the North Koreans say, they do. They're also determined to become a nuclear nation. They cause the big countries to lose sleep worrying about their rockets. That's something we need to study."
On China: (A 20 minutes digression on historical relationships) Eventually he got to China's economic take-off under former leader Deng Xiaoping and "Deng's burning desire", mastery of the South China Sea.
"Defensive considerations and the lure of vast supplies of oil and gas not far from home are driving China's policy". That's made China the principal threat to Vietnam's claims to its offshore waters and islands. But not the only threat".
"We must never forget that they've invaded us over and over, yet we also must always remember that China made great sacrifices to supply us in our wars against France and the US. We must not seem ungrateful for that."
On American support: "They never have and never will treat us well. If they're nice here, if they praise us there, support us in the South China Sea, it's because they're trying to use a small fish to catch a big one."
On strategy: "The first principal of Vietnam's strategy therefore must be to safeguard its independence and self-determination, but it must also give top priority to preserving a peaceful environment. This was not an easy task, indeed a contradictory one, and the key to accomplishing it is preserving solidarity between the people of Vietnam and the people of China".
Four things must avoid: "Military confrontation, economic confrontation, isolation and dependence on a foreign country".
On what the teachers of Vietnam should do: "It's up to all of you school leaders. "The Party expects you to manage your kids. If we find that students from your school are taking part in demonstrations, you can be sure there will be a black mark on your record."
Speaker - Colonel Tran Dang Thanh, a teacher at Vietnam's top military college.
Audiences - Deans and professors drawn from Hanoi's many universities.
(Note: No recording supposed to have taken place)
Asia Times Online :: State secrets revealed in Vietnam
On the Party: "Comrades now working don't yet have a pension but sooner or later, we'll all be eligible for our retirement pay, and we hope every one of us will draw it in full. I'm explaining this so that each of you realizes that defending our nation and socialist ideology covers a lot of things, and among these is the very practical fact that we are protecting our own pensions and the pensions of those who will come after us... So, I have to say clearly, we must do everything we can to protect our socialist Vietnamese regime at all costs."
On the United States: "To tell the truth, the US is implementing a two-faced policy. One face uses Vietnam as an advanced force to block China. The other face employs every means to destroy the long-standing solidarity between the people of Vietnam and the people of China. ... The Americans really want to set up a naval base at Cam Ranh Bay, one of the three best harbors in the world. ... The Americans are pushing a strategy of 'peaceful change' [of the Vietnamese regime] and they seek to implement it through 'educational cooperation' with us."
On Russia: "Resurgent, with an economy powered by endless reserves of oil and gas and cutting edge defense industries, what does Russia want of us?... It is intent on returning to East Asia. In the past, Russia gave strong support to our army and navy. Now through us, they see a way back to the region. The Russians have a high opinion of Vietnam. They see us as loyal and faithful. ... and like the Americans, they really want us to rent Cam Ranh Bay to them. ... which of course we're not going to do."
On Iran: "There are 1.1 billion Muslims between us and Europe. They are warrior peoples... who want to remold the world according to Allah's plan. Now the Islamic Republic of Iran is determined to pursue its nuclear development plan to secure a peaceful environment. I won't go into whether Iran is building nuclear weapons or not... but certainly the Iranians have enough strength to defend their interests."
On North Korea: "Its people are economically poor, but overflowing with love of country, like us Vietnamese in the 1960s and '70s. They're on a war footing. They launch rockets ... and get respect. Whatever the North Koreans say, they do. They're also determined to become a nuclear nation. They cause the big countries to lose sleep worrying about their rockets. That's something we need to study."
On China: (A 20 minutes digression on historical relationships) Eventually he got to China's economic take-off under former leader Deng Xiaoping and "Deng's burning desire", mastery of the South China Sea.
"Defensive considerations and the lure of vast supplies of oil and gas not far from home are driving China's policy". That's made China the principal threat to Vietnam's claims to its offshore waters and islands. But not the only threat".
"We must never forget that they've invaded us over and over, yet we also must always remember that China made great sacrifices to supply us in our wars against France and the US. We must not seem ungrateful for that."
On American support: "They never have and never will treat us well. If they're nice here, if they praise us there, support us in the South China Sea, it's because they're trying to use a small fish to catch a big one."
On strategy: "The first principal of Vietnam's strategy therefore must be to safeguard its independence and self-determination, but it must also give top priority to preserving a peaceful environment. This was not an easy task, indeed a contradictory one, and the key to accomplishing it is preserving solidarity between the people of Vietnam and the people of China".
Four things must avoid: "Military confrontation, economic confrontation, isolation and dependence on a foreign country".
On what the teachers of Vietnam should do: "It's up to all of you school leaders. "The Party expects you to manage your kids. If we find that students from your school are taking part in demonstrations, you can be sure there will be a black mark on your record."
Speaker - Colonel Tran Dang Thanh, a teacher at Vietnam's top military college.
Audiences - Deans and professors drawn from Hanoi's many universities.
(Note: No recording supposed to have taken place)
Asia Times Online :: State secrets revealed in Vietnam
EastSea
BANNED
- Joined
- Oct 24, 2011
- Messages
- 3,787
- Reaction score
- -1
- Country
- Location
Sumitomo Life to buy HSBC's stake in Vietnam insurer
By Taiga Uranaka
TOKYO | Thu Dec 20, 2012 12:06pm GMT
(Reuters) - Sumitomo Life Insurance Co SMTLI.UL said on Thursday it is buying HSBC Holding's (HSBA.L) (0005.HK) 18 percent stake in Vietnamese insurer Baoviet Holdings BVH.HM for about $340 million, the latest Japanese acquisition in Southeast Asia.
Faced with weak growth prospects at home and a strong yen, Japanese banks and insurers are stepping up overseas expansion.
For Sumitomo Life, the deal represents success after an earlier setback. It had tied up with Vietnam Bank for Agriculture and Rural Development (Agribank) with the intention of setting up a life insurance joint venture in the country. But the plan was shelved last year, prompting the Japanese company to seek a new partner.
For HSBC, the deal marks further progress on Chief Executive Stuart Gulliver's plan to exit non-core businesses. Earlier this month the bank sold a minority stake in China's Ping An Insurance (2318.HK). HSBC also sold its general insurance business to French insurer Axa (AXAF.PA) and Australia's QBE Insurance Group Ltd (QBE.AX) earlier this year.
HSBC paid $360 million to buy the 18 percent stake in Baoviet in two tranches in 2007 and 2009.
Sumitomo Life, one of Japan's top four life insurers, said it will acquire the stake for about 7.1 trillion Vietnam dong ($340.3 million). The transaction is subject to regulators' approval.
Last week, a source with knowledge of the matter said Japan's biggest bank, Mitsubishi UFJ Financial Group Inc (8306.T), plans to buy 20 percent of VietinBank CTG.HM from the Vietnamese government for about $720 million.
Japanese insurers are attracted to the growth potential of Southeast Asian markets as life insurance markets are currently very small. Vietnam's market was worth just $818 million in 2011 in terms of premiums, compared with Japan's $524.7 billion that year, according to Swiss Re's Sigma Report.
Vietnam's life insurance penetration rate, a measure of how much a country's population spends on life insurance, was just 0.7 percent in 2011, compared with 8.8 percent in Japan and 3.6 percent in the United States, according to Swiss Re.
Reuters this month reported that Japan's Dai-ichi Life Insurance Co Ltd (8750.T) and Fukoku Mutual Life Insurance Co were among companies shortlisted to buy a minority stake in Indonesia's Panin Life for about $200 million.
(Reporting by Taiga Uranaka; Editing by Muralikumar Anantharaman and Elaine Hardcastle)
By Taiga Uranaka
TOKYO | Thu Dec 20, 2012 12:06pm GMT
(Reuters) - Sumitomo Life Insurance Co SMTLI.UL said on Thursday it is buying HSBC Holding's (HSBA.L) (0005.HK) 18 percent stake in Vietnamese insurer Baoviet Holdings BVH.HM for about $340 million, the latest Japanese acquisition in Southeast Asia.
Faced with weak growth prospects at home and a strong yen, Japanese banks and insurers are stepping up overseas expansion.
For Sumitomo Life, the deal represents success after an earlier setback. It had tied up with Vietnam Bank for Agriculture and Rural Development (Agribank) with the intention of setting up a life insurance joint venture in the country. But the plan was shelved last year, prompting the Japanese company to seek a new partner.
For HSBC, the deal marks further progress on Chief Executive Stuart Gulliver's plan to exit non-core businesses. Earlier this month the bank sold a minority stake in China's Ping An Insurance (2318.HK). HSBC also sold its general insurance business to French insurer Axa (AXAF.PA) and Australia's QBE Insurance Group Ltd (QBE.AX) earlier this year.
HSBC paid $360 million to buy the 18 percent stake in Baoviet in two tranches in 2007 and 2009.
Sumitomo Life, one of Japan's top four life insurers, said it will acquire the stake for about 7.1 trillion Vietnam dong ($340.3 million). The transaction is subject to regulators' approval.
Last week, a source with knowledge of the matter said Japan's biggest bank, Mitsubishi UFJ Financial Group Inc (8306.T), plans to buy 20 percent of VietinBank CTG.HM from the Vietnamese government for about $720 million.
Japanese insurers are attracted to the growth potential of Southeast Asian markets as life insurance markets are currently very small. Vietnam's market was worth just $818 million in 2011 in terms of premiums, compared with Japan's $524.7 billion that year, according to Swiss Re's Sigma Report.
Vietnam's life insurance penetration rate, a measure of how much a country's population spends on life insurance, was just 0.7 percent in 2011, compared with 8.8 percent in Japan and 3.6 percent in the United States, according to Swiss Re.
Reuters this month reported that Japan's Dai-ichi Life Insurance Co Ltd (8750.T) and Fukoku Mutual Life Insurance Co were among companies shortlisted to buy a minority stake in Indonesia's Panin Life for about $200 million.
(Reporting by Taiga Uranaka; Editing by Muralikumar Anantharaman and Elaine Hardcastle)
beijingwalker
ELITE MEMBER
- Joined
- Nov 4, 2011
- Messages
- 65,195
- Reaction score
- -55
- Country
- Location
Vietnams Trade deficit with China tops $14.5 bln, up 21%
Thu, December 20, 2012,4:15 PM (GMT+0700)
Thu, December 20, 2012,4:15 PM (GMT+0700)
cnleio
ELITE MEMBER
- Joined
- Dec 23, 2012
- Messages
- 10,563
- Reaction score
- 19
- Country
- Location
LOL,i know why Vietnamese official urgently jumped out and said "China don't use trade as the weapon"
They wanna WARN ?! Let the 'weapon' work. And i believe Vietnamese could earn more $14.5 billion from other country. China not the only HUGE market for Vietnam's export trade,isn't it???
They wanna WARN ?! Let the 'weapon' work. And i believe Vietnamese could earn more $14.5 billion from other country. China not the only HUGE market for Vietnam's export trade,isn't it???
EastSea
BANNED
- Joined
- Oct 24, 2011
- Messages
- 3,787
- Reaction score
- -1
- Country
- Location
grey boy 2
SENIOR MEMBER
- Joined
- Jul 23, 2009
- Messages
- 6,484
- Reaction score
- -2
- Country
- Location
EastSea
BANNED
- Joined
- Oct 24, 2011
- Messages
- 3,787
- Reaction score
- -1
- Country
- Location
Thks for link.
If we can do balancing in trade with China, surplus to this year can reach 24,5 bill U$S.
