Vietnam’s supply chain role expected to remain: AmCham

VivaVietnamm

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Vietnamese enterprises break through in the US market

Facing huge difficulties and challenges for the business community due to the impact of the epidemic, it is complicated, multi-dimensional and unpredictable. Trade tensions have caused the trend of globalization and world trade to change rapidly…

Challenges of Vietnamese businesses

Trade tensions between the world's two largest economies China and the US have not only severely affected the economies of the two countries but also affected many countries around the world, including Vietnam.

In the danger of taking advantage of this trade tension, major global importers all have a backup plan for supply by finding manufacturers outside of China for stable future operations.

In that context, dynamic Vietnamese businesses have made good use of opportunities, found solutions to overcome difficulties and created new breakthroughs. As an export-oriented economy, Vietnam's foreign direct investment (FDI) market accounts for the majority of exports. Vietnam will attract more investors as manufacturers continue to restructure their supply chains to reduce the impact of US tariffs on China.

Exports to the US grew strongly, despite the COVID-19 epidemic

Vietnam's diplomatic achievements in recent years have also significantly improved Vietnam's image and position in the international arena. According to the Ministry of Industry and Trade, goods exported to the US in 2021 have grown quite impressively. Generally, for the first nine months of 2021, export turnover of goods is estimated at $240.52 billion, an increase of 18.8% over the same period last year, in the context of complicated epidemic developments. Measures against epidemics in the country, this is a great effort of all sectors and fields.

Trade experts also forecast that from now until the end of the year, along with China and Europe (EU), the US will continue to be Vietnam's potential export market.

Vietnamese enterprises seize the opportunity and make great efforts to restructure the economy, accelerate construction and complete infrastructure, meet very high standards of product quality and management as well as greatly enhance training activities of high-quality human resources.

The success of Vietnamese enterprises in the US market

As a leading manufacturer of ceramic tiles and wooden floors in Vietnam, AMY GRUPO has invested and strongly developed a R&D team as the core for product breakthroughs, research, improvement, application and certification. advanced management models in the world to improve services and demonstrate capacity.


Doanh nghiệp Việt bứt phá tại thị trường Mỹ - Ảnh 1.
Headquarters AMY GRUPO

Taking the world's highest standard of products as the company's base standard and carrying out certification procedures by reputable independent agencies in the world, directly surveying needs, tastes, and trends in the European and American markets, associating with strong partners in the market area to take a shortcut to achieve the adaptability of enterprises to the market.

Doanh nghiệp Việt bứt phá tại thị trường Mỹ - Ảnh 2.
SPC production line with a capacity of 15 million m2/year

AMY GRUPO identifies the most difficult target customer group for the domestic market as a group of professionally knowledgeable customers in the industry such as architects, contractors, real estate project investors... as a measure of capacity. businesses in the domestic market. With more than 120 projects of real estate developers such as Vingroup, Sun Group, Hilton, Pullman, Lotte, Muong Thanh, Masteri, Hung Thinh, Dat Xanh, Vinaconex, Nam Long, An Gia, BRG... and other projects. contractors such as Coteccons, Ricons, Newtecons, Hoa Binh, Delta, Ecoba... In the two years 2019-2020, AMY has established strategic partnerships with many Top 10 enterprises of the US building materials industry and 4 strategic partners in Italy, UK, Hungary, Poland.

Vietnamese enterprises break through in the US market - Photo 3. Tile production line with a capacity of 27 million m2/year According to US Customs data, AMY GRUPO accounts for 40% of tiles exported to the US market in 2020. With the achievements and product quality of AMY GRUPO in the international market, in October 2021, AMY GRUPO honored was evaluated and awarded The Best Luxury Tiles in Asia by One World Trade Center, New York, USA.

The current business environment is full of difficulties and challenges, but businesses properly assess the current situation of the business environment, have effective strategies and plans to adapt effectively, establish a management system, build a business transformation, the opportunity for business success is still open

 

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FDI inflows into Asia-Pacific region remain strong, China likely to be the global top destination for FDI once again
MON, OCT 11, 2021 - 1:30 PM

PROSPECTS for foreign direct investment (FDI) flows into the Asia-Pacific region over the medium term remain strong, with China likely to be the top destination for FDI once again, said Oxford Economics in a report on Monday (Oct 11).

Meanwhile, as supply chains continue to adjust to higher labour costs in China and trade protectionism, South-east Asia, and in particular Vietnam, is poised to be the key beneficiary, said Sian Fenner, lead Asia economist for Oxford Economics.

Based on their new FDI attractiveness scorecard, China is the most attractive destination for FDI, accounting for more than 9 per cent of global FDI over the next decade.

That said, share of global FDI inflows will likely trend lower over the 2020-2029 period, as the composition of foreign investment into China continues to evolve and the mainland itself increasingly becomes a source of foreign investment in the region, said Fenner.

Specifically, foreign investment will likely become further oriented towards services and meeting the needs of China's domestic market. Meanwhile, FDI previously directed towards low-skilled export-oriented manufacturing will likely continue to be redirected to other Asian countries.

Vietnam, in particular, is expected to benefit from these supply-chain adjustments, given its close proximity to China, low wages, and participation in trade agreements.


"That said, Vietnam still needs structural reforms to improve firms' ability to do business in the country and must ensure adequate education to enhance the scalability of product," noted Fenner.

"We rank Malaysia as the third most attractive destination for FDI inflows over the next decade, with Indonesia ranked at a respectable sixth, behind India. However, we see the Philippines as being one of the least attractive among the APAC economies," she continued.

"This adds further weight to our forecast that the extent of economic scarring caused by the pandemic will be especially large in the Philippines."

Meanwhile, advanced economies are least likely to benefit due to their high wages and challenging demographic outlook. The exception is Taiwan, where the pandemic and US-China tensions have led to some reshoring of manufacturing by Taiwanese multinationals.

The FDI environment in advanced economies has also become more restrictive since the pandemic, noted Fenner. In particular, Japan, South Korea and Australia have all introduced tighter screening regulations which will dampen future FDI.

"While the advanced economies may not be as attractive destinations for FDI, we do expect to remain important sources of regional FDI, with the RCEP agreement further boosting intra-regional inflows as the trade bloc becomes more economically integrated," she said.

https://www.businesstimes.com.sg/gl...-region-remain-strong-over-medium-term-report
 

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Can Vietnam beat China to become the "manufactory of the world"?

12-10-2021 - 08:38 AM

Vietnam is considered as one of the fastest growing economies, the most impressive among emerging economies in Asia. So what is the opportunity for Vietnam to replace China to become a "new global factory"?

What makes Vietnam an export powerhouse in the region?

A team of economists from AXA Investment Managers Asia based in Singapore has analyzed and explained the reasons why Vietnam can become an export power in the region, and assessed the prospect of becoming a "factory for export". second world" after China of this Southeast Asian economy.

According to two economists Aidan Yao and Shirley Shen, Vietnam is considered one of the fastest growing economies, the most impressive among emerging economies in Asia (excluding China). deeply integrated into global trade in recent decades.

Macroeconomic experts from AXA Investment Managers Asia affirmed: "Vietnam is increasingly competitive in trade and has become an attractive manufacturing center in the world".

According to the assessment of AXA Investment Managers Asia, Vietnam's successful integration into the Association of Southeast Asian Nations (ASEAN) is the "key" to the strong growth of trade activities.

In the region, Vietnam ranks highly in terms of economic performance, fueled by strong returns from manufacturing development and export potential.

In addition, Vietnam has also signed many free trade agreements (FTAs) with different major regions and economies around the world such as Japan (VJEPA), the European Union (EVFTA), the UK (VJA), and the EU (EU). UKVFTA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Regional Comprehensive Economic Partnership Agreement (RCEP), etc., this has created a favorable environment for trade relations to develop. even stronger.

Previous studies by AXA Investment Managers Asia have all shared that Vietnam has been a prominent winner in terms of global export market share in recent years.

Especially as China has successfully risen to assert value in the global trade supply chain, bypassing the gaps in lower value growth, using low-cost labor, and making the country lose its competitiveness. compared to neighboring countries that are making strong breakthroughs like Vietnam.

The research team of AXA Investment Managers Asia said: "Vietnam has achieved a 5-fold increase in export value over the past decade, significantly outperforming the rest of Asia".

In addition, in the past time, Vietnam is considered one of the countries that benefit the most from the trade conflict between the US and China, along with the rapidly increasing competitiveness in the manufacturing sector also contributes to the growth of the economy. Vietnam has risen to become an export power in the ASEAN region in particular and Asia in general.

Figures show that Vietnam's exports to the US increased by 29% in 2019. At the end of last year, Vietnam became the 6th largest importer to the US market, up from 12th place in 2017.

In terms of attracting foreign direct investment (FDI), Vietnam has been particularly successful thanks to the government's preferential policies during the past time. In particular, Vietnam's FDI inflows have grown the fastest in the region.



By 2020, Vietnam has 369 industrial parks, an increase of 180% compared to 2005. Vietnam has also ranked up in the ranking of the "ease of doing business" index of the World Bank (WB), up 23 places up. rank 70 compared to 10 years ago.

Besides, in terms of competitiveness assessment scores based on business facilitation, logistics quality, wage costs, Gross Domestic Product (GDP) growth as well as changes in the In terms of exports and FDI, Vietnam is considered as the most competitive country in the region. This has helped increase export market share impressively in recent years.

Regarding Vietnam's manufacturing industry in the past decade, a series of statistics show that the value of the industry has increased the most, twice the rate of India.

According to AXA Investment Managers Asia, one of the important reasons for Vietnam to emerge as a powerhouse of commercial production and assembly is its ability to attract businesses to relocate and re-establish production bases.

Two economists Shirley Shen and Aidan Yao said that, in addition to the wave of supply chain shift from developed countries to the community of developing countries, previous AXA research also showed that manufacturing profits The low level caused the world's leading multinational corporations to start migrating out of China in recent years.

The reasons indicated are that China has a rapidly growing economy, increasing labor costs, rapidly increasing production operating costs or recently trade tensions with the US, along with With the impact of the COVID-19 pandemic, the wave of production shift is accelerating faster and faster.

At the end of 2018 and 2019, Samsung also closed two large phone assembly plants in China, moving to Vietnam, so that half of the leading handsets of this Korean electronics group were assembled. in Bac Ninh and Thai Nguyen.

Leading fashion, apparel and footwear supply chains, such as Nike and Adidas, which recently decided to move their production bases out of China, have also chosen Vietnam as a safe haven.

In addition, many of the world's leading technology giants such as Google, Microsoft, and Intel, have also moved or are in the process of converting parts of their production lines to Vietnam.

Can Vietnam become a "world factory" to replace China?

According to Mr. Aidan Yao and Ms. Shirley Shen, although Vietnam is a popular destination for global supply chain relocation, there is nevertheless the potential for this Southeast Asian country to become "the world's new factory" " or "new global factory" is unlikely.

The research team pointed out: “The size of the economy is an important issue when it comes to forecasting whether Vietnam is able to replace China's position in the global supply chain or not. Compared to the world's second largest economy, Vietnam's economy is actually much smaller - only 1/5 of China's GDP and 1/5 of China's population as well as the total existing productive workforce.

In addition, Vietnam's manufacturing output accounts for only 0.3% of the total global output, while China's accounts for 28%.

Other comparisons, including research and development (R&D) spending, infrastructure construction, rail lines, stock values, and power generation capacity, are all significantly different, creating a gap. large gap in size between Vietnam and its giant neighbour.

 

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Many "big guys" in the electronics industry continue to invest in Vietnam

Phuc Minh - Many "big guys" in the electronics industry continue to invest or expand production in Vietnam through large projects. Bac Ninh, Hai Phong, Bac Giang, Thanh Hoa and Da Nang continue to become the localities receiving huge investments from these FDI projects…. This information was announced by Navigos Group, a corporation providing human resource recruitment services in the recently released report on the recruitment demand for mid- and senior-level personnel in the Vietnamese market in the third quarter of 2021, forecasting the trend. recruitment direction in the fourth quarter of 2021 and the beginning of 2022.

MANY BIG ENTERPRISES CONTINUE TO INVEST AND EXPAND PRODUCTION

According to a report by Navigos Group, the market is seeing many large enterprises in the electronics industry continue to invest or expand production in Vietnam through large projects. In which, there are projects to build large research centers (Research & Development - R&D). Bac Ninh, Hai Phong, Bac Giang, Thanh Hoa and Da Nang continue to become the localities receiving huge investments from these FDI projects. Some businesses in the North in this segment, due to effective Covid-19 prevention and control measures, still maintain good production activities.

There was even a slight growth due to receiving many production orders from other branches that are affected by Covid-19.

Besides, the market also observed a large recruitment demand for candidates who know Chinese due to the shift of businesses from China to Vietnam.

Also because the impact of Covid-19 is less than in the South, most of the textile enterprises in the North are still maintaining good production at the moment. Many businesses have more orders from other regions in Asia to move to Vietnam, because these regions have not yet controlled the disease well. Therefore, large and reputable textile and garment enterprises are doing very well with current orders.

There are companies that have received orders until April 2022 and still need to recruit more workers. Some companies say their profits have even doubled in the past. BUSINESSES HAVE A DEMAND TO INCREASE RECRUITMENT The hiring forecast may increase due to increased orders from some businesses, but not too much. In addition, if businesses hire, most of them will be to replace employees who have quit their jobs and strengthen the team with positions that need high skills and techniques. Positive recruitment signals also appear in the banking industry, when units in this industry are racing to transform digitally, so the demand for recruiting high-quality personnel is still increasing. Accordingly, not only large-scale banks, smaller banks and a number of securities companies have also planned and invested in the transformation, establishing Project Committees/Conversion Blocks. Therefore, the demand for personnel at all levels for information technology and digital transformation positions continues to increase, especially for the positions of application development, technology development, transformation management, administration. and data analytics, digital marketing and business.

Navigos Search's forecast shows that this digital transformation race is still going on for banks and companies with sustainable resources and strategies, so the demand for the above-mentioned high-quality human resources is high. still increase. Meanwhile, the electricity - electronics, mechanics and furniture industries in the South decreased by 70% due to the temporary closure of the factory. Due to the strong outbreak of the Covid-19 epidemic in Ho Chi Minh City and neighboring provinces, businesses in the electrical - electronic, mechanical and furniture manufacturing sectors faced many difficulties. Businesses that want to maintain operations need to implement the 3T policy, leading to costly expenses, causing many businesses to choose to temporarily close so that when the epidemic is under control, they will reopen.

Similarly, many FMCG and retail businesses will postpone recruitment and stop hiring in the fourth quarter of 2021. The main reason is that businesses focus on disease prevention, so production and business activities are interrupted or owners remain at a low level. Candidates in this field, affected by Covid-19, are not open to new opportunities to ensure job safety. Therefore, the market is still short of potential candidates for the positions that are currently being recruited. In the fourth quarter, businesses in the retail industry are gradually reopening, and recruitment demand is forecasted to increase slightly in early 2022. Businesses in the commercial consumer goods industry are still recruiting, However, it is forecasted that in the fourth quarter, recruitment demand may decrease slightly compared to the third quarter.
 

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What Vietnam has learned from Korea's 'U-turn Act' law: Only 6 years can bring a series of "big guys" in the electronics, automobile, jewelry industries... to the country.
October 18, 2021 - 15:14 PM

The disruption to the global supply chain caused by the Covid-19 pandemic has spurred the trend of shifting manufacturing out of China. Other countries in Asia are considered to benefit from this trend, especially Korea and Vietnam.

The Project Syndicate newspaper emphasized, Vietnam and Korea need to focus on promoting the process of shifting and reshoring (known as "returning", or moving production back to the original country of enterprises). Covid-19 has highlighted numerous "weaknesses" of cross-border value chains. Once the "backbone" of the globalization process, value chains are now labeled as "interruptible". Accordingly, value chains are being restructured to meet the economic recovery process.

At the same time, China's role in the global economy is gradually changing. Many businesses from different countries and industries have chosen to leave China. For example, US soybean producer Hasbro closed its factory in China to focus on production in Vietnam, Japanese electronics giant Sony has moved operations to Thailand, and South Korea's Cotton Club. have moved to the Philippines, Cambodia and Indonesia.

Even Chinese companies are leaving the country for cheaper production locations. Wages in China are more than double that of Vietnam, almost 70% in South Korea.

Besides, the shortage of labor also makes it difficult to reduce production costs. What Vietnam has learned from the U-turn Act of Korea: Only 6 years can bring a series of giants in the electronics, automobile, jewelry industries... - Photo 1. What Vietnam has learned from Korea's U-turn Act: Only 6 years can bring a series of giants in the electronics, automobile, jewelry industries... - Photo 2. Moreover, fierce competition in the Chinese market from domestic manufacturers has made the country "less attractive" in the eyes of investors. A decade ago, Samsung held a 20% market share in the Chinese market.

But so far, its market share is less than 0.5%. In this context, Samsung has decided to move the entire production line of consumer goods out of China. Currently, the technology giant only maintains 3 factories in China, aiming to produce intermediate parts such as semiconductor chips, batteries for electric cars and MLCC capacitors to help stabilize the current in circuit boards. One of the countries that is active in encouraging businesses to return home is Korea. Over the past decade, the Korean government has enacted a number of policies, including tax benefits, subsidies and land rebates, to encourage reshoring. In 2019, the country further revised the "U-turn act" focusing on industries, especially information businesses. These policies, combined with many external factors, have contributed to a steady increase in the number of Korean businesses reshoring, from nine in 2018 to 16 in 2019, and 21 in 2020. Reshoring businesses are in a variety of industries, from electronics and jewelry to automobiles, and most of them are repatriated from China. What Vietnam has learned from Korea's U-turn Act: Only 6 years can bring a series of giants in the electronics, automobile, jewelry industries... -

Many enterprises find it a reasonable choice to close old production lines in China and build "smart factories" in their own countries. For example, Korean garment company G&G has built a new, fully automated smart factory in Southwestern Korea, helping businesses to be more competitive in price, as well as more flexible in product diversity. , even in a labor-intensive sector. For businesses facing these digital transformation challenges, the Korean government has established a special public-private partnership program to help businesses access and build factories. smart. What does Vietnam learn from the U-turn Act of Korea:

Korea Institute of Industrial Economics and Trade Increasing digitalization is also an effective way to deal with the challenge of supply chain disruption. For example, Hyundai Motors previously outsourced all electrical wiring production to suppliers in China. However, Covid-19 forced the company to close the production line of this product. Since then, Hyundai has transferred the production process thanks to Korea's digital transformation program.

Project Syndicate concludes, China's "loss" is the "gain" of many Southeast Asian countries. Thanks to the process of shifting and reshoring, in 2019, ASEAN member countries recorded the highest FDI inflows into new investment ever.
 

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Turkey’s Hayat Group unveils second phase of US$250 million factory in Binh Phuoc
Wednesday, 11:41, 20/10/2021

VOV.VN - Hayat Group of Turkey’s has officially announced the second phase of an investment package worth US$250 million in a Vietnamese factory, to expand distribution of fast-moving consumer goods (FMCG) products both nationwide and across the region.
Hayat factory in the southern province of Binh Phuoc (Photo: Hayat Vietnam)


Hayat factory in the southern province of Binh Phuoc (Photo: Hayat Vietnam)
The Turkish group announced late last year that it is to inject US$250 million to develop a factory in Becamex-Binh Phuoc industrial and urban complex.
During an online press conference held on October 19, Cetin Murat, general director of Hayat Vietnam, said the group has now completed the first phase of the project, by setting up Hayat Vietnam Company with an investment capital of US$100 million that can generate more than 500 jobs.
Murat expressed his hope that the project will receive further support from southern Binh Phuoc province to expand the site in the second phase, in which Hayat is set to launch the world's fifth largest baby diaper brand named Molfix in the Vietnamese market.
The Hayat factory in Vietnam is set to provide FMCG products to other potential markets throughout ASEAN, such as Cambodia, the Philippines, Laos, and Indonesia. Indeed, the total export value of Hayat Vietnam is estimated to be US$50 million per year.
According to Hayat, the Vietnamese factory is anticipated to take on the role of a production hub for Southeast Asia, with approximately 40% of its output being exported to overseas markets such as Thailand and Malaysia.

 

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Vietnam is one of the 10 largest suppliers of goods to the EU market

October 28, 2021
Vietnam is in the top 10 countries supplying the largest goods to the European market (EU), with two-way trade turnover in 2020 reaching 43.2 billion euros. Vietnam has now become the EU's largest goods trading partner in the ASEAN region, with two-way trade turnover in 2020 reaching 43.2 billion EUR (according to Eurostat), ranked in the top 10 countries supplying goods. largest in this market.

That is one of the notable information at the Vietnam - EU Trade Forum 2021, organized by the Ministry of Industry and Trade in collaboration with the European Chamber of Commerce in Vietnam (EuroCham) on the morning of October 27 in Hanoi. Although Vietnam was severely affected by the 4th outbreak of the epidemic in the southern key export region, in September 2021, two-way trade between Vietnam and the EU still recorded positive growth, including compared to the pre-pandemic period, with a turnover of more than 41 billion USD, an increase of more than 13% over the same period in 2020, of which exports increased by 11.7% and imports increased by 17.6% over the same period last year. 2020.

Speaking at the Vietnam - EU Trade Forum in 2021, Deputy Minister of Industry and Trade Dang Hoang An affirmed that more and more businesses are taking advantage of incentives from the EVFTA Agreement through the use of certificates of origin (C/ O) incentives. The competitiveness and market share of Vietnamese goods have also improved markedly in the EU market. Regarding investment, with a strong commitment to ensuring transparency, openness and convenience in the business-investment environment, Vietnam has received high-quality investment from the EU with projects with advanced technology. advanced, creating common values and benefits for the business communities of the two sides.

These are particularly remarkable results after one year of implementation of the Agreement, and are the basis for us to be completely optimistic and believe in a strong rebound in the development of trade and investment cooperation. Vietnam - EU in the context of the new normal with a solid foundation from the EVFTA. Two-way trade exchange between Vietnam and the EU after one year of implementation of the EVFTA Agreement has reached 54.87 billion USD, up 12.1% over the same period last year, of which export turnover increased by 11.3%. and import turnover increased by 14.04%.
 

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Samsung SDS is looking to recruit a large number of IT personnel in Vietnam?
30-10-2021 - 07:48 AM |


Samsung SDS đang muốn tuyển dụng số lượng lớn nhân sự IT tại Việt Nam?


South Korea's leading system integration solutions provider Samsung SDS said it will double the number of employees in Vietnam and India by the end of this year compared to last year to meet the increasing demand for technology maintenance in the country. overseas factories of Samsung Electronics. Samsung is ramping up production of foldable phones at factories along with a shortage of technical manpower.

Samsung SDS recently said it has 3,000 employees at its global delivery centers (GDCs) in Vietnam, India and China who are responsible for developing IT services, up from 2,000. By the end of 2020. The number may increase to 4,000 employees by the end of this year, equivalent to nearly 30% of the company's staff in Korea.

This is a very strong growth when in 2014 there were only 100 employees at GDCs.

Samsung SDS đang muốn tuyển dụng số lượng lớn nhân sự IT tại Việt Nam? - Ảnh 1.


A company representative said: "Information technology companies at home and abroad are actively using foreign human resources, Samsung SDS is making efforts to secure resources in Vietnam and India."

Observers say Samsung SDS's aggressive recruitment of overseas workers is part of an effort to deal with rapidly rising labor costs in the country. The average annual salary of Samsung SDS has increased 1.5 times over the past decade to $84,579 in 2020.

Samsung SDS said the workforce expansion in foreign GDCs has nothing to do with the factory expansion, but industry observers believe the company will increase the number of engineers in Vietnam to increase its production capacity. Samsung Electronics' production capacity meets the increasing demand of folding phones.

Samsung SDS recently built a virtual desktop infrastructure (VDI) system for GDCs in partnership with Tilon. Tilon VDI is a remote working system that allows simultaneous access of up to 300 laughs. Samsung SDS also became the largest shareholder of Vietnam's No. 2 information technology solution provider CMC in 2019.

The recent move of Samsung SDS stands in stark contrast to its industry rivals. South Korea's second and third largest IT solution providers LG CNS and SK C&C have not added workforces at GDCs since 2014, at 1,000 and 300 people, respectively.

LG CNS has moved GDCs from China to Vietnam as manufacturing plants move production locations.

 

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The African market grew by 30%, Viettel Global reached nearly 1,600 billion VND in EBT in 9 months
October 30, 2021 01:00 PM | BUSINESS



SPEAKING ANNOUNCEMENT - 2:09
Viettel Global's gross profit margin reached a record 44.4% in the third quarter.


Thị trường châu Phi tăng trưởng 30%, Viettel Global đạt gần 1.600 tỷ đồng LNTT trong 9 tháng





In 9 months, Viettel Global's revenue reached VND 15,313 billion, an increase of nearly VND 1,000 billion over the same period. Gross profit reached VND 6,336 billion, up 12% over the same period. In the first 9 months of the year, the African market also achieved a growth rate of over 30% with total revenue of more than VND 6,300 billion, accounting for 41% of consolidated revenue.


Profit before tax in 9 months reached 1,571 billion dong, of which 3rd quarter alone reached 473 billion dong.

As of September 30, 2021, Viettel Global's total assets and equity reached VND 54,086 billion and VND 29,097 billion, respectively.

On the stock market, VGI shares have had a positive momentum over the past 3 months: from 28,000 VND/share in July, it has increased by more than 35% to 38,000 VND. At this price, the market capitalization of Viettel Gobal is currently VND 116,000 billion, equivalent to USD 5 billion.
 

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The African market grew by 30%, Viettel Global reached nearly 1,600 billion VND in EBT in 9 months
October 30, 2021 01:00 PM | BUSINESS



SPEAKING ANNOUNCEMENT - 2:09
Viettel Global's gross profit margin reached a record 44.4% in the third quarter.


Thị trường châu Phi tăng trưởng 30%, Viettel Global đạt gần 1.600 tỷ đồng LNTT trong 9 tháng





In 9 months, Viettel Global's revenue reached VND 15,313 billion, an increase of nearly VND 1,000 billion over the same period. Gross profit reached VND 6,336 billion, up 12% over the same period. In the first 9 months of the year, the African market also achieved a growth rate of over 30% with total revenue of more than VND 6,300 billion, accounting for 41% of consolidated revenue.


Profit before tax in 9 months reached 1,571 billion dong, of which 3rd quarter alone reached 473 billion dong.

As of September 30, 2021, Viettel Global's total assets and equity reached VND 54,086 billion and VND 29,097 billion, respectively.

On the stock market, VGI shares have had a positive momentum over the past 3 months: from 28,000 VND/share in July, it has increased by more than 35% to 38,000 VND. At this price, the market capitalization of Viettel Gobal is currently VND 116,000 billion, equivalent to USD 5 billion.
Vietnam is a big success story 👍🏻
 

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Nikkei: Samsung Electronics' new ambitions in home appliances and affirms its plan for 'mother factory' in Vietnam
01-11-2021 - 06:35 AM | Kinh tế vĩ mô - Đầu tư



Nikkei: Tham vọng mới trong mảng điện gia dụng của Samsung Electronics và khẳng định kế hoạch cho 'mother factory' Việt Nam


"Vietnam is a 'mother factory', we continue to grow there and have no plans to downsize production," said Samsung Electronics CEO and President Kim Hyun-suk.

Samsung Electronics executives say that every future home will have a robot that runs around the kitchen, prepares dinner, knows what to cook based on user preferences, and is aware of any risks. any health risk of the employer.

It sounds far-fetched, but Samsung predicts it will soon become a reality.

Kim Hyun-suk, CEO and President of Consumer Electronics, who oversees AI research and development, said in an interview with Nikkei that the group plans to manufacture electrical devices. smart home electronics, creating a service that connects diverse products, from smartphones and TVs to home appliances.

Mr. Kim said: "Around 25% to 30% of the world's population uses Samsung products every day, and this presents us with a great opportunity. Connecting products will allow the company to provide delivering exceptional experiences [to customers] in a completely different field from Apple."

Last year, Samsung Electronics posted sales of 48.17 trillion KRW ($41.3 billion) with the world's leading TV market share.

For example, with advanced connectivity, Samsung TVs can display a fitness program and built-in sensors will track the user's movements, working with wearables to track vital health metrics. their. Then, an AI-powered system will use the big data to recommend a most suitable exercise program.

The service will go even further, suggesting a recipe for a healthy meal based on what the AI detects in the fridge.

At CES 2021 in the US, one of the world's leading technology exhibitions, Samsung presented a vision of a robot-assisted home. They launched a robot that performs household chores such as controlling dishwashers and washing-dryers that automatically set the time to wash clothes. The company predicts that, with advancements in image recognition technology and control chips, robots will soon become part of families.

"Personalization and automation will be achieved at the same time thanks to AI," Kim said, pointing out that devices will even perform tasks one step ahead of users, based on their preferences. .

"Today, instead of letting viewers scroll through channels, TVs choose the programs they want. This technological advancement will spread to other electronic devices," Kim added.


This year, Samsung established a division that promotes multi-device experiences, where the leaders of the smartphone, TV, and home appliances industries work together to drive connectivity. between products, seeking to develop new services quickly through close collaboration.

With Chinese rivals making strides, Samsung is under pressure to reach the future as soon as possible.
Nikkei: Tham vọng mới của Samsung Electronics và khẳng định kế hoạch cho mother factory Việt Nam - Ảnh 1.
Kim Hyun-suk, CEO and President of Consumer Electronics, believes that the key to attracting young consumers is new features and experiences. (Photo: Kotaro Hosokawa)

"Chinese companies are completely superior in hardware and we can't beat them with specs alone," Kim admitted. But Samsung is tapping into its strengths in offering a wide range of products, and Kim said Samsung can provide new experiences by connecting a wide range of products.

Samsung is focusing on experience and generational differences between older and younger customers. "Compared to consumers aged 40 and over, those belonging to 'Gen MZ' (the Korean term for people in their 20s and 30s) are less loyal to brands," he said. "They make decisions based on whether they can get a new experience."

"Young people also regularly share content on platforms like Netflix and Instagram. Differences between people in different countries and regions are narrowing, their consumption preferences are quite similar to those of each other," Kim said. "This is why it is essential to develop products and services aimed primarily at these young people over the next five to 10 years."

Like other manufacturers, Samsung's supply chain has been hit hard by challenges such as the pandemic and global chip shortages. Factories producing smartphones, electronics and home screens in Vietnam are still limited because of Covid-19. However, Mr. Kim pointed out that Samsung is very committed to Vietnam.

"Vietnam is a 'mother factory', we continue to develop there and have no plans to downsize production," - Director Kim Hyun-suk confirmed.

*Mother factory" is a term widely used in industry in Japan.Every year, more and more articles referring to "mother factory" appear in the Japanese mass media. Furthermore, academic research, especially in the field of international business, also uses this term.

However, the term has never been clearly defined and is used in many ways. For example, articles in the Japanese mass media have described different ways of "mother factory", some of the common interpretations are:

- A factory acts as a parent company to develop production technology and human resources and strengthen the function of guiding and controlling overseas factories.

- A factory engaged in product development or product prototyping, creating prototypes of new products and leading other mass production plants to develop the latest production technologies.

- A factory develops new technologies and transfers them abroad.

- Meaning varied, it can be used differently in Japanese mass media, academic research and non-academic research in Japan.
 

VivaVietnamm

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Prime Minister witnessed Vietnamese and French businesses sign cooperation agreements of billions of EUR
04-11-2021 - 08:42 AM


Thủ tướng chứng kiến doanh nghiệp Việt Nam và Pháp ký các thỏa thuận hợp tác hàng tỷ EUR


The two Prime Ministers witnessed the signing ceremony of agreements between Vietnamese and French businesses.
On the evening of November 3, Paris time, after concluding talks within the framework of his official visit to the French Republic, Prime Minister Pham Minh Chinh and French Prime Minister Jean Castex witnessed the signing ceremony of cooperation agreements. between agencies and businesses of the two countries.
Documents signed between the authorities of the two countries include:
- Cooperation agreement between the Ministry of Justice of Vietnam and the Political Consultative Assembly of the French Republic for the period of 2021-2026;

- Administrative agreement between the Vietnamese Ministry of Education and Training and the French Ministry of Higher Education, Research and Innovation on the recognition of degrees and training processes;

- Loan agreement and aid agreement for the multi-disaster management project of Nam Rom river basin to protect people's lives, adapt to climate change and develop socio-economic in Dien Bien province;

- Letter of intent to cooperate in implementing Earth observation satellite projects between the Vietnam Academy of Science and Technology and the French National Center for Space Research.

The signed documents in the field of economy - commerce include a memorandum of understanding between Vietnamese airlines, including:


- Vietjet Air and Bamboo Airways with Safran - the world's leading high-tech corporation of France;

- Memorandum of Understanding on cooperation in the fields of satellites, smart cities, digital identity and cyber security between Vietnam Posts and Telecommunications Group and Thales Group.

Also on this occasion, the Ministry of Industry and Trade also handed over the decision on investment policy of Son My 1 power project.

In particular, according to the comprehensive strategic cooperation agreement signed by Vietjet and Safran, from cooperation in the supply and use of aircraft engines and services through CFM International, Safran's joint venture company with CFM International. With sales of 10 billion USD already, Vietjet and Safran continue to expand their cooperation to a long-term strategic level.

Meanwhile, Bamboo Airways and Safran signed a memorandum of understanding on the selection of engines and aircraft equipment for Bamboo Airways' order of 50 A321NEO and 30 Boeing 787-9 aircraft. The total value of agreements in the Memorandum of Understanding is estimated at EUR 2 billion.

Thales and VNPT signed a strategic memorandum of understanding to cooperate in the fields of telecommunications satellites, smart and secure cities, digital identity and biometrics, 5G & IoT, and cybersecurity.
 

VivaVietnamm

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Vietnam's canvas shoe exports far exceed China's
Vu Khue -

The proportion of Vietnam's footwear export turnover in the 2016-2020 period tends to increase from 10.3% in 2016 to 13.6% in 2020. Vietnam ranks second in the world in footwear exports. in general but is the largest exporter of canvas shoes (in terms of value).

Việt Nam là nước xuất khẩu giày vải lớn nhất



Vietnam is the largest exporter of canvas shoes




According to statistics of the General Department of Customs, Vietnam's footwear export turnover in the third quarter of 2021 reached $2.925 billion, down 47.7% compared to the second quarter of 2021, down 26.9% over the same period. term 2020.

In terms of absolute numbers, among export industries, footwear is the item with the largest decrease in turnover compared to the second quarter of 2021, when it decreased by 2.67 billion USD; compared to the same period in 2020, it ranked second (after gems, precious metals and products), with a decrease of 1.08 billion USD.

However, due to the high increase in footwear exports in the first months of the year, in the first nine months of 2021, the total export turnover of this item reached US$13.31 billion, up 9.7% over the same period in 2020. – lower than the 12.8% increase of the first 9 months of 2019 (when there was no Covid-19 epidemic).

Analysis by the Center for Industry and Trade Information (Ministry of Industry and Trade) shows that, due to the influence of the Covid-19 pandemic, the total number of world footwear exports in 2020 reached 12.1 billion pairs, a decrease of 19. % year over year, reaching 12.1 billion pairs – the lowest level in the past 10 years.

In 2020, Vietnam's footwear exports reached 1,233 billion pairs, down 9.1% compared to 2019. However, it was the first year that Vietnam surpassed 10% of the world's total footwear exports ( accounting for 10.2%), an increase of 4.4 times compared to 2011 (accounting for 2.3%, with 316 million pairs of shoes exported).

The average growth rate of the industry in the period 2016 - 2019 increased by 12.1%/year, Vietnam ranked second in the world in terms of footwear exports (after China). Notably, Vietnam is the largest exporter of canvas shoes (in terms of value), outstripping China.

In general, in the period 2016-2020, Vietnam's footwear exports grew by an average of 6.4% per year. The proportion of Vietnam's footwear export turnover in the 2016-2020 period tends to increase from 10.3% in 2016 to 13.6% in 2020.

Vietnam's footwear products have been exported to more than 150 markets around the world, mainly in the main markets such as the US, EU, China, Japan, UK...


In which, the US is the largest importer of Vietnamese footwear of all kinds, accounting for more than one third of the total export turnover of the whole industry. Before 2020, footwear exports to the US market maintained a good growth rate in turnover with an average growth rate in the period 2015 - 2019, reaching 13%/year.

In 2020, the impact of the Covid-19 epidemic should reduce footwear exports to this market, but increased sharply in the first months of 2021.

It is said that, with the US lifting preferential policies for footwear exports from China, India is creating more favorable competitive opportunities for Vietnam's footwear exports.

As for the EU market, the EU-Vietnam Free Trade Agreement (EVFTA) which took effect from August 1, 2020 is considered the biggest driving force for the growth of Vietnam's footwear industry in recent years. .

After the EVFTA Agreement officially took effect, Vietnam's footwear exports to the EU market gradually recovered. Vietnamese footwear in the EU currently has an advantage over competing countries such as China, Myanmar, India and Cambodia.

In the coming time, forecasts show that the world economy will continue to prosper again, especially the world's major economies such as the US and EU will reopen, the consumer market will recover strongly. ... is an opportunity for Vietnam's leather and footwear exports to regain growth momentum.

 

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Brands regain confidence when Vietnam reopens, textile exports will reach $38 billion
11/16/2021

According to VITAS, in the last two months of the year, textile and garment exports will reach about 3 billion USD/month when there are signs that orders have returned. Accordingly, bringing the total turnover of the industry in 2021 to about 38 billion USD.

At the introduction of Cotton Day Vietnam 2021 - A special forum on sustainable cotton that will take place on December 1, Mr. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS), informed Nike and Adidas moving its factory out of Vietnam in August and September is incorrect.


In fact, these brands have production systems in Vietnam in two fields of garment and leather shoes, but they have not invested in factories.

"As of October, when we reopened, at Viet Tien Garment Corporation, Nike had not shipped any orders because we could not choose a manufacturer that could meet their requirements. about time, quality, evaluation system like in Vietnam", Mr. Vu Duc Giang informed.

According to the President of VITAS, during the recent social distancing period, Vietnamese textile and garment enterprises could not meet the delivery schedule, so a certain number of orders for November and December delivery and for the 2022 New Year were delivered. go, estimated at 13-14%.

However, there are signs that orders have returned since the Government issued Resolution 128 on controlling and living with COVID-19 in a new situation.

Brands regain confidence when Vietnam reopens, textile exports will reach $38 billion - Photo 1.
Mr. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS) shared at the introduction of Cotton Day Vietnam 2021 taking place on the afternoon of November 15. (Photo: Nhu Huynh)

The VITAS representative emphasized that brands now have confidence when Vietnam reopens the economy, so only when the pressure on delivery time is too urgent and it is impossible to calculate the balance of sales time, the brands will Just ship the order to any country that meets the requirements.

"Because when shipping orders abroad, it costs a lot of transportation, production organization, and system evaluation, and only factories that meet the standards will be produced," added Mr. Giang.

Although Ho Chi Minh City and the southern provinces were severely affected by the prolonged COVID-19 epidemic, the country's textile and garment export turnover in the first 10 months of this year still achieved a growth rate of nearly 11% over the same period last year. last year.

Specifically, the total textile and garment export turnover of the country in the first 10 months of the year reached more than 32 billion USD, up 10.8% over the same period last year.

In which, garment export reached more than 23.8 billion USD; fabric reached more than 2 billion USD, textile materials more than 1 billion USD, nonwoven fabric was 636 million USD. Notably, the export turnover of fiber products reached nearly 4.5 billion USD, up more than 52% over the same period last year.

With the above export results, the President of VITAS forecast that in the last two months of the year, the industry's export will reach about 3 billion USD/month, bringing the total turnover of the industry to about 38 billion USD by the end of the year. While at the end of 2020, the export turnover of the industry reached about 35 billion USD, down 9.8% compared to 2019.

At the same time, VITAS leaders believe that the export turnover of Vietnam's textile and garment industry will continue to increase in 2022.

Mr. Vu Duc Giang also said that American cotton is one of the choices that makes a great contribution to meeting the needs of expanding Vietnam's textile industry, creating favorable conditions for garment production and export. wear.

Vietnam is currently the largest importer of US cotton in the world. Mr. Vo Manh Hung, the representative of Cotton USA in Vietnam, said that the world textile and fashion industry is making strong changes towards environmental protection and sustainable development. Brands are increasingly focusing on materials that are both fashionable and environmentally friendly.

 

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Translation from our industry watcher's article:

Looking at the current level of development in Vietnam from a data


Google Transalte
From the current point of view, the industrial structure of Vietnam is still an assembly and processing country, not our main competitor.

I have expressed a concept in my article before, that is, the reason why our perception of things is biased, in fact, the biggest reason is that we have insufficient background information, just like sometimes we look at events in history and feel that How did people make such decisions at the time? It’s not that the elites at that time had low IQ or were stupid. In fact, they were much better than ordinary people, but because we didn’t understand the specific internal and external environment they were facing at that time. At that time, the elites did not open up the perspective of God like we do now and have a lot of information, but they do not have enough information.

Therefore, when we make a judgment on a thing, the more effective and true information we have, the more conducive it is for us to make a correct judgment. Therefore, in the future, I will continue to share a variety of data. When there is enough knowledge and data, the more likely it is to make a correct judgment.

Today we look at a key data of Vietnam, which is the surplus and deficit of import and export trade, from which we can get a glimpse of the current level and stage of industrial development in Vietnam.

Vietnam’s Viet News Agency released the data on imports and exports of goods from January to October this year issued by the General Administration of Statistics of Vietnam. At present, Vietnam’s exports have been highly "industrialized." It is 238.81 billion U.S. dollars, accounting for 89.1%.

However, it is worth noting that the total export value of Vietnam’s agricultural products, aquatic products and forest products is also 26.09 billion U.S. dollars (of which aquatic product exports are 6.89 billion U.S. dollars). This shows that Vietnam is a large food export country. There are 97 million people, and there is basically no suspense when it will exceed 100 million in the future. Under this circumstance, a large number of agricultural products and aquatic products of more than ten billion U.S. dollars can be exported. It seems that Southeast Asia's climate development agriculture does have its own uniqueness.

From the perspective of export destination countries, it is basically the model of exporting developed countries (Europe, America, Japan, Korea) + China + Southeast Asia. Developed countries are their largest export markets, followed by China.

The United States is Vietnam’s largest export market, with exports reaching 76 billion U.S. dollars, a year-on-year increase of 21.9%.
Followed by China, exports reached 44.2 billion US dollars, an increase of 16.8%;
Exports to the EU reached 31.7 billion US dollars, an increase of 8.9%;
Exports to ASEAN reached 23 billion U.S. dollars, an increase of 21.3%;
Exports to South Korea reached 17.9 billion U.S. dollars, an increase of 11.2%;
Exports to Japan reached 16.1 billion U.S. dollars, an increase of 2.2%.
From the perspective of imports,
China is Vietnam’s largest source of imports, with imports reaching US$89.4 billion in the first ten months, a year-on-year increase of 36.4%.

The second is South Korea, with an import value of 45.5 billion U.S. dollars, an increase of 21.4%;
Imports from ASEAN reached 33 billion U.S. dollars, an increase of 34.8%;
Imports from Japan reached 18 billion U.S. dollars, an increase of 9%;
Imports from the EU reached US$13.8 billion, an increase of 15.9%;
Imports from the United States reached 13 billion U.S. dollars, an increase of 13.5%.

In the first ten months of this year, Vietnam’s trade in goods had a deficit of US$1.45 billion, and the overall trade balance was in a state of trade balance. The trade deficit of domestic enterprises in Vietnam was US$22.73 billion, and the trade surplus of foreign-funded enterprises (including crude oil) was US$21.28 billion, showing the export of local Vietnamese enterprises. Ability is still relatively weak, and the export surplus is mainly fulfilled by foreign-funded enterprises.

In the past ten months, China was the source of Vietnam’s largest trade deficit, with a deficit of 45.2 billion U.S. dollars, followed by South Korea. Vietnam’s trade deficit with South Korea reached 27.6 billion U.S. dollars. Vietnam’s trade deficit was mainly from China and South Korea, and 19 against Japan. The trade deficit of 100 million U.S. dollars has little effect.

The largest source of Vietnam’s trade surplus is the United States, with a surplus of 63 billion U.S. dollars, followed by the European Union, where Vietnam’s surplus from the EU is 17.9 billion U.S. dollars, and then neighboring countries in Southeast Asia, where Vietnam has a surplus of 10 billion U.S. dollars.
In short, the current division of labor in Vietnam’s production structure is like this. A large amount of production equipment, parts and raw materials are imported from China and South Korea, and exported through assembly and processing, while forming a huge trade deficit with China and South Korea. , Vietnam has a trade surplus mainly from the United States, as well as the European Union and Southeast Asia, especially the United States.

For Vietnam, the United States is the largest export destination and a source of surplus, China is the largest import destination and a source of deficit. At the same time, China is also the second largest export market after the US, and it is still growing rapidly.
This also shows that if small and weak countries want to develop, they cannot circumvent the world's powerful countries anyway.

Taking into account that there are some discrepancies between the statistics of China and Vietnam, in general, it is estimated that my country's export surplus to Vietnam this year may reach the level of about 50 billion U.S. dollars, which is a very large scale.

This means that the United States, the European Union, and India+Vietnam have become my country's three major sources of surplus. Yes, my country’s largest sources of surplus against global developing countries are India and Vietnam. Of course, Vietnam still mainly exports to the United States, and ultimately the United States.

Here I would like to say one of my thoughts and judgments. Vietnam has indeed been developing rapidly over the years, but from the current point of view, its development can be said to be in line with the "geese formation model" proposed by the Japanese. People regard it as an ideal model because in this model, the Japanese believe that they can always stand in the position of the Asian leader, firmly grasp the advanced production equipment, materials and brands, and then transfer some of the low-end industries in turn. Do it for the goose body and tail countries, which is also beneficial to the leading goose countries, because these countries will greatly increase the demand for upstream advanced equipment and materials by relying on the development of these low-end industries. The needs of various consumer brands, and these are precisely the strengths of the leading goose countries.

It’s just that the Japanese didn’t expect that the next-door China is an all-you-can-eat geese. From the leading geese industry to the geese body industry to the geese tail industry, it can be said that this model has completely failed because of China.

At present, Vietnam is in the position of tail of geese. It is only in the assembly and processing of tail of geese, the labor-intensive industries of shoes, clothing and bags have created a competitive relationship with China. However, while Vietnam has achieved development by relying on these industries, it is The upstream production equipment, advanced materials, and parts have also generated huge demand. At the same time, the increasingly wealthy Vietnamese began to buy various brand products, and these aspects have expanded China’s export market. The profit margin of this mid-to-high-end export product is comparable. The low-end industry is much higher.

In addition, in terms of low-end manufacturing, China has three major advantages in relying on the aggregation of industrial chains and the vertical integration of brands to manufacturing, as well as a huge local market. Coupled with the gradual automation of production lines, it will surely be able to retain a considerable part of the low-end manufacturing industry. The terminal manufacturing industry is in the local area. I have cited many examples in my previous article. The typical mobile phone and notebook manufacturing industry has gradually moved from traditional manual assembly to automated assembly and testing, and the manpower required for the production line is gradually decreasing. In addition, Chinese local brands of shoes and clothing are on the rise, and brand designers need to communicate with the company’s manufacturing plants nearby to engage in the need for vertical integration, rather than necessarily outsourcing the factory.

From the current point of view, the industrial structure of Vietnam is still an assembly and processing country. In fact, our main competitor is not Vietnam. The cakes distributed to Vietnam are actually very small, but South Korea, Taiwan, China, which need to compete for upward breakthroughs, Japan, Germany, the United States and other regions, their economic aggregate is more than 100 times that of Vietnam, this is the real big cake worth grabbing.
 

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