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Vĩnh Thịnh bổ nhiệm Phó Tổng giám đốc phụ trách Tài chính – Kế toán

Chiều 20/06/2017, Công ty TNHH dây cáp điện Vĩnh Thịnh đã tổ chức lễ công bố và trao quyết định bổ nhiệm đối với bà Nguyễn Thị Linh, giữ chức vụ Phó Tổng giám đốc phụ trách Tài chính – Kế toán. 

Buổi lễ có sự tham dự của Chủ tịch HĐQT, các thành viên HĐQT và Ban Lãnh đạo Công ty. Phát biểu tại buổi lễ, bà Nguyễn Thị Linh gửi lời cảm ơn tới Ban Lãnh đạo Công ty đã tin tưởng và giao phó vị trí Phó Tổng giám đốc phụ trách Tài chính – Kế toán, cũng như cam kết sẽ nỗ lực hết sức để làm tốt vai trò, cùng với các cán bộ – nhân viên Công ty tiếp tục phát huy và đóng góp nhiều hơn nữa cho sự phát triển của Vĩnh Thịnh.

Tổng giám đốc Cty – Ông Nguyễn Quốc Bình hy vọng trên cương vị mới với năng lực và kinh nghiệm quản lý nhiều năm ở nhiều đơn vị uy tín, Phó TGĐ phụ trách Tài chính – Kế toán cùng lãnh đạo các phòng ban – bộ phận sẽ không ngừng nỗ lực, góp sức cùng Ban Lãnh đạo Vĩnh Thịnh xây dựng Vĩnh Thịnh Group ngày càng phát triển vững mạnh.

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Vĩnh Thịnh Khánh Thành Nhà Máy Bắc Sài Gòn

Công ty Dây Cáp Điện Vĩnh Thịnh mạnh tay cải tiến công nghệ hàng triệu USD nhằm nâng cao chất lượng sản phẩm.

 Vừa qua ngày 27/12/2016, Công ty Dây Cáp Điện Vĩnh Thịnh vừa tổ chức Lễ Khai Trương Nhà máy Bắc Sài Gòn tọa lạc tại Huyện Củ Chi.  Với diện tích hơn 10.000m2, Nhà máy bắt đầu đi vào hoạt đông, ứng dụng công nghệ kỹ thuật tiên tiến, áp dụng mô hình đạt chuẩn quốc tế. Song song đó, Vĩnh Thịnh tiếp tục thực hiện sứ mệnh mang “ Nguồn dẫn đến thành công” với cam kết  “ Chất Lượng là yếu tố then chốt cho sự phát triển của Công ty”. Vĩnh Thịnh đẩy mạnh đầu tư sản xuất nhằm mang đến những sản phẩm dây cáp điện chuẩn mực có tính an toàn cao.

Tính đến cuối năm 2016, hiện nay công ty Vĩnh Thịnh đã cơ cấu và hệ thống quy trình khép kín 4 nhà máy sản xuất quy mô tọa lạc tại: Tây Ninh, Long An, và Củ Chi.

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Ban Giám Đốc cắt băng Khánh Thành Nhà mày Bắc Sài Gòn

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Nhà máy Bắc Sài Gòn Dây Cáp Điện Vĩnh Thịnh (697 Tỉnh Lộ 2, Tổ 1 Ấp Vân Hàn, Xã Trung Lập Thượng, Huyện Củ Chi, Tp. HCM)

Phòng Marketing

 

 

 

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Vietnam powers up longest cross-sea electricity cable

The $16-million project will shine light on 8,000 island residents.

Vietnam’s state-owned Southern Power Corporation on Saturday fired up a 110 kV transmission line to supply electricity to Lai Son Island off the southern province of Kien Giang, Vietnamplus reported.

With a total length of 43.9 km, including 24.5 km running above the sea and 19.4 km onland, it is the longest in the country.

Work on the $16-million project began in September last year, and it will supply electricity to about 8,000 residents on the island.

The Southern Power Corporation plans to build more transmission lines to connect other islands in Kien Giang to the national grid.

Kien Giang, located in the southwest of the country, is also home to Phu Quoc Island, a popular destination for local and foreign tourists in Vietnam.

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Vietnam to pull in more investment next year: CEO survey

Half of respondents plan to expand in the country over the next 12 months even though confidence in the Asia-Pacific region has taken a hit.

Just 28 percent of CEOs in the region are “very confident” in revenue growth in 2016, according to the Asia-Pacific Economic Cooperation (APEC) CEO Outlook survey conducted by PricewaterhouseCoopers.

Vietnam, however, remains an attractive option, together with China and Indonesia.

Over the next 12 months, more than half of the respondents believe that investment in Vietnam will increase thanks to its population of over 90 million and its rapid growth of income per capita. Responses came from 800 CEOs operating in the 21 economies of the APEC region.

For many CEOs, free trade agreements will support small and medium-sized enterprises and provide a path to growth for the region.

“The best thing you can do for SMEs is to remove trade restrictions. The more we can trade, the more companies benefit,” said Mike Smith, CEO of Australia and New Zealand Banking Group Limited.

However, some have warned that lowering barriers to trade and foreign investment may do more harm than good to SMEs, arguing that free trade may intensify the competition between SMEs and global firms.

In Vietnam, 97 percent of the companies are SMEs, so with the door opened under free trade agreements, they have to compete with foreign companies, said Hoang Van Dung, chairman of Vietnam APEC Business Advisory Council, calling this “the biggest challenge.”

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Indian investor eyes Vietnam’s energy efficiency potential

EESL has expressed strong interest in LED street lights and solar projects for the Vietnamese market.

Indian energy firm EESL expressed interest in Vietnam’s clean energy market, particularly LED street lights and solar energy projects, during a recent workshop.

Energy Efficiency Services Limited, as the company is officially known, is a joint venture set up by India’s Ministry of Power. It has signed a partnership contract with Cambodia’s D&D Group, paving the way for future energy efficiency projects in Vietnam and Cambodia.

D&D Chairman Dibyendu Pattnaik said his company was considering investing in new transmission lines, hydroelectric power and renewable energy projects.

Vietnam’s economic growth, particularly the expansion of the manufacturing sector, will continue to drive demand for electricity.

According to state utility Vietnam Electricity (EVN), annual energy consumption in the country has reached 162 billion kilowatt-hours and is projected to grow by 10 percent.

Simple energy efficiency measures can provide some of the easiest and cheapest ways to meet the country’s energy demand and reduce green house emissions.

Other Indian investors have also eyed Vietnam’s energy sector.

Smita Pant, Consul General of India in Ho Chi Minh City, told the Vietnam Investment Review that Tata Power’s $2.1 billion investment in the Long Phu 2 Thermal Power Project in the southern province of Soc Trang would make India one of the top foreign investors in the country. The plant is expected to start running in either 2021 or 2022.

Vietnam says economy will still thrive even if TPP tanks

Vietnam says economy will still thrive even if TPP tanks
A man works at a yarn weaving plant in Ha Nam Province, outside Hanoi, Vietnam. Vietnam’s manufacturing and exports-led economy is widely regarded as the biggest potential beneficiary of the TPP, but the deal now looks on the rocks following the presidential election win of Republican Donald Trump. Photo by Reuters/Kham/File Photo

‘It’s still very early to predict the future of TPP.’

Vietnam will stay competitive and its economy will still thrive if the Trans-Pacific Partnership (TPP) deal collapses, its trade minister said, as doubts hang over the future of a pact that was core to the Obama administration’s “pivot” to Asia.

Vietnam’s manufacturing and exports-led economy is widely regarded as the biggest potential beneficiary of the TPP, but the deal now looks on the rocks following the presidential election win of Republican Donald Trump, who during campaigning took a protectionist stance on a deal he called a disaster and killer blow for American jobs.

“It’s still very early to predict the future of TPP,” Trade Minister Tran Tuan Anh was quoted saying by the government news website on Friday, “but regardless, we are always ready for integration, not just because of TPP, but because it is a requirement and also a motivation of development,”.

“If TPP is implemented smoothly, our economic opportunities and competitive sectors like textiles, seafood and shoes will definitely benefit … but if not we still have world markets; these sectors will still be competitive,” Tuan Anh said.

Vietnam has been Southeast Asia’s free-trade trailblazer, pursuing tariff-slashing deals with its biggest markets and sources of investment, including South Korea and the European Union, as well as existing agreements via the Association of Southeast Asian Nations, such as an ASEAN-China FTA.

If passed, the TPP, dubbed a mega-regional accord, would cover 40 percent of the global economy and create a trade zone worth about $28 trillion among 12 countries that include the U.S., Japan, Australia, Canada, Malaysia and Mexico.

The deal looked set to sail through legislatures when it was concluded last year, but the run-up to the U.S. presidential election put ratification on ice in Washington and prompted other countries to put their legislative approvals on hold too.

The Obama administration saw TPP as a means of keeping China’s economic power in check. China is not among the members and has proposed its own parallel deal, the Regional Comprehensive Economic Partnership (RCEP), of which Vietnam will be a part.

Vietnam has been receiving record foreign investment and expansion by firms into the country, often as a cheaper alternative to China, buoyed by the prospect of a cost-cutting TPP.

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Vietnam’s public debt growing three times faster than GDP

Vietnam’s public debt growing three times faster than GDP
Vietnam’s debt has been growing three times faster than GDP, according to the National Assembly’s Finance and Budget Commission. Photo by VGP
The country is digging itself into an ever-increasing hole.

Vietnam’s national debt had reached more than VND2,600 trillion ($116 billion) as of the end of 2015, equal to 62.2 percent of gross domestic product (GDP), said the country’s Finance and Budget Commission in a report on the country’s debts and obligations for 2016-2020.

The report said Vietnam’s debt remained below the ceiling of 65 percent of GDP set by parliament, but debt has been growing three times faster than GDP.

All public debt indicators, such as public debt to GDP, public debt to government revenue, debt service to GDP and debt service to government revenue, are at risk of either approaching or exceeding the safety limit, the commission said. Taking debt service to government revenue as an example, the ratio last year hit 27.4 percent last year, far beyond the limit of 25 percent.

The country is also seeking new loans to repay debts and service obligations. The Vietnamese government reportedly used 14.2 percent of total outstanding loans to pay back debts in 2014, according to the Finance Ministry. The World Bank estimated the figure may have jumped to 16 percent last year.

The parliamentary commission also emphasized that debt-ridden state-owned enterprises need special attention. Data shows that more than 100 major state-owned enterprises had borrowed a combined VND1,500 trillion ($67 billion) by the end of last year, with a large part coming from foreign creditors. These SOEs borrowed $15.6 billion from overseas, of which more than 60 percent was either official development assistance loans at low interest rates or loans guaranteed by the government.

The report raised concerns about the fact that when a state-owned enterprise can’t find its own way to repay its debts, the government must step in and assume the responsibility.

For instance, after state-owned shipbuilder Vinashin defaulted on a $600 million loan, the Ministry of Finance finally had to step in by offering to guarantee a bond issuance to a group of more than 20 creditors, mostly commercial banks, with Credit Suisse as the mandated lead arranger.

The World Bank forecasts that Vietnam’s public debt will climb to 63.8 percent of GDP this year and 64.4 percent next year.

The growing debt will impose a steadily increasing burden on the economy, and make it ever harder to cut the budget deficit, which hit 6.1 percent of GDP last year.

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Vietnam among top places for business expansion in Southeast Asia: survey

Vietnam among top places for business expansion in Southeast Asia: survey
Laborers work at TAL Apparel Vietnam Garments factory in Vinh Phuc Province, north of Hanoi, Vietnam October 20, 2016. Photo by Reuters/Kham

With competitive labor cost, the country only comes after Singapore in terms of attractiveness.

In the Southeast Asia region, Singapore tops the list of most favorable expansion destinations for Asian companies, with 32 percent of respondents saying they will invest more, followed by Vietnam, according to a recent survey by United Overseas Bank.

Approximately one in four companies will consider Vietnam because of the country’s stable political setting as well as the favorable economic conditions of low inflation and accommodative monetary policy.

Vietnam’s young and active workforce adds value to its attractiveness as an expansion destination. When it comes to labor cost, no country in the region except Myanmar can beat Vietnam.

Vietnam has become a magnet for investment even for investors from Southeast Asia. Malaysian, Thai and Singaporean companies are the keenest on Vietnam, with 38 percent, 35 percent and 29 percent respectively planning to pour more money in the next three to five years.

In the first nine months, the country has attracted $16.43 billion foreign investment, latest data from the government shows.

Compared to the year 2014, when the Asian Enterprise Reports was first released, there are mismatches in where companies originally planned to expand to and where they actually have operations now. According to the survey, fewer firms are operating in Vietnam than anticipated in 2014. Meanwhile, in Malaysia and Singapore, the number of running enterprises has exceeded the expectations.

Asia’s rising importance continues unabated in the global economy. The region’s share of global economy has jumped from 18 percent in 1980 to 31 percent in 2015, and is forecast to reach 45 percent by 2030.

A total of 2,500 business leaders and key financial decision makers of Asian enterprises based in six regional countries and territories — China, Hong Kong, Indonesia, Malaysia, Singapore and Thailand — participated in the survey.

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Free trade deal to boost EU-Vietnam trade by 50 pct

Vietnam’s garment and textile exports to the EU will be freed from tariffs when a free trade deal takes effect, possibly in late 2017. Photo by Reuters

European firms are upbeat about a deal that will cut thousands of tariffs from late 2017.

A free trade agreement signed between the European Union and Vietnam in August last year is expected to boost trade value between the markets by up to 50 percent by clearing thousands of tariffs.

The trade pact is expected to cut 4,959 tariff lines, or 52 percent of the total between the markets, to zero when the agreement takes effect at the end of 2017, and another 144 tariff lines by the end of 2018, insiders said at a conference on Thursday.

Products to benefit from the tax break include materials used for garments, textiles and shoes, and Vietnam’s major exports such as seafood and agriculture produce.

Michael Behrens, chairman of the European Chamber of Commerce in Vietnam (EuroCham), which represents around 900 European businesses, said the trade deal is expected to enhance investments that can create millions of new jobs in Vietnam.

He said the trade deal will help increase trade value between the countries by 50 percent in just a few years. Annual trade between Vietnam and the EU is currently worth around $31 billion.

EuroCham is going to open an office, in the central city of Da Nang, after the two in Hanoi and Ho Chi Minh, to facilitate the increasing interest of European firms in Vietnam.

A recent survey by the organization showed high confidence among European firms about their business prospects in Vietnam, with more than 70 percent of respondents describing their business situation at present as well as the next quarter as “excellent” or “good”.

Behrens said European businesses in Vietnam are upbeat about the market, and they are looking forward to the free trade deal, which is expected to take effect in late 2017.

He believed that Brexit will not delay the implementation of the trade deal, but said that any delays will affect the companies’ enthusiasm and lower investments.

The EU is a major investor in Vietnam with more than 1,800 projects effective as of the end of April this year, mostly in industry and construction. Their registered capital totals over $23.16 billion.

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In modern Vietnam, a high-tech economy is a future far awayLaborers work to make Zara jackets at a garment factory in Bac Giang province, near Hanoi October 21, 2015. Photo by Reuters/Kham

In modern Vietnam, a high-tech economy is a future far away
Laborers work to make Zara jackets at a garment factory in Bac Giang province, near Hanoi October 21, 2015. Photo by Reuters/Kham

Decades-old technologies are widely used across most sectors, keeping the country from becoming more competitive in the global market.

Vietnam’s backwardness in technology is dragging down its economic growth.

As the country is trying to leave its mark in the global economy, it has no other option but to move up the value chain and away from the traditional low-wage, low-tech model.

There has been some success. Statistics show that high-tech products contributed 28.7 percent in the country’s gross domestic product in 2013, up from 19.1 percent in 2012 and 11.7 percent in 2011. The goal is to bring this ratio to 45 percent by 2020.

The government seems to be fully aware of the importance of technology in manufacturing. It has been pushing for the adoption of modern machinery and production methods in both labor-intensive industries that make garments, shoes or furniture, and capital- and technology-intensive sectors such as automobile and electronics.

Over the past five years, the Vietnamese government has invested about VND10 trillion ($450 million) in technology and science. And since 2001, it has consistently set aside about 2 percent of the annual state budget, or 0.5 percent of the GDP, to introduce scientific and technological advances to various industries.

Despite all these efforts, Vietnam is still 50 to 100 years behind the most modern countries in the world in terms of technology, according to the Ministry of Science and Technology. Compared to the world’s average level, its technology is between two and three generations, or 20 years to 30 years, behind.

The country’s support industries, which urgently need technological advances to boost productivity, remain weak, said Pham Tuan Anh, deputy head of Heavy Industries Department under the Ministry of Industry and Trade.

Enterprises in these industries currently account for only 0.03 percent of the country’s total number of businesses. The lack of local suppliers has forced Vietnam to import nearly 90 percent of raw materials, spare parts and components.

Domestic companies in support industries can only meet about 10 percent of the demand, Anh added.

Data show the ratio of locally sourced components in automobile manufacturing is ranging from 20 percent to 30 percent. For textiles and garments as well as footwear, it is around 10 percent.

Local garment companies have to import more than 65 percent of raw materials, including fabrics and other accessories from overseas, especially from China, which owns the bulk of the world’s polyester production and is one of the top producers of cotton, said Le Quoc, a senior advisor to the Vietnam Textile and Garment Association.

Support industries are currently controlled by foreign-invested companies, mainly from Japan, South Korea and Taiwan.

Official figures show about 80 percent of parts suppliers in Vietnam, including electronic and other metal parts, are foreign companies.

The Vietnamese government has worked on a plan to change this.

The goal is that in the next four years local support industries will have 1,000 suppliers that can meet 45 percent of the manufacturing sector’s demand. By 2030, there will be 2,000 suppliers that meet 70 percent of the demand.

In its drive for modernization, the country is also forecast to import machinery and equipment worth $250 billion between 2011 and 2025.

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