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May, 30, 2016

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Business > Asia > Vietnam
Vietnam's electronics sector is becoming a force in Asia. While electronics exports from Asia rose by 17 percent between 2010-14, Vietnam's contribution ballooned by about 10 times, according to Singapore-based DBS group research.
 
As of June 20, Japan had invested US$37.7 billion in 2,661 projects in Vietnam, statistics from the Vietnamese Foreign Investment Department show.
 
The total merchandise export turnover for Vietnam was recorded at US$63.2 billion in the first five months of this year, an increase of 7.3 percent over last year's figure.
 
Vietnam is aiming to develop a Vietnamese rice brand that would become the world's leading rice by 2030, according to a project approved by Prime Minister Nguyen Tan Dung last week.
 
Vietnam's automobile industry faces the risk of collapse, with both consumers and manufacturers shifting to imports, according to the Tuoi tre (Youth) newspaper.
 
Vietnam recorded a trade surplus of roughly US$2 billion in 2014, the General Statistics Office (GSO) reported last Saturday.
 
The plunge of the ruble is becoming a challenge to Vietnamese exporters dealing with the Russian market.
 
The Bank for Investment and Development of Viet Nam (BIDV) has signed a memorandum of understanding (MOU) with two Japanese banks, namely Minato Bank and the Bank of Yokohama (BOY).
 
Local retailers do not require preferential treatment, only a level playing field, they told a seminar on retail market development organized by the Vietnam Retailers Association in Hanoi on Friday.
 
The growth of connected device ownership is causing a boom in the online retail sector, with the number of people making online purchases spiking in the last two years in Southeast Asia, particularly Vietnam, global information company Nielsen said in a report last week.
 
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