FPT Retail Co., a subsidiary of the big information technology firm FPT, launched on Tuesday four shops retailing cell phones and laptops in HCMC and Hanoi, marking its first business activity since establishment early this year.
Le Quang Vu, managing director of FPT Retail, said at the opening ceremony that "the new retail shop chain marks FPT Retail's debut in Vietnam mobile retail market and offers more choices for customers."
He said that after opening the four retail shops in Hanoi and HCMC, the company would continue to open more stores in Can Tho, Hai Phong, Thanh Hoa, Vinh and Da Nang in the coming months as part of a more ambitious expansion plan.
"FPT Retail plans to increase our chain to 100 shops nationwide in the next two years and expects to obtain US$400mil of annual revenue," he added.
Under the FPT Retail shop standard, all the FPT retail shops with the trademark [IN] should cover no less than 300 square meters and has the uniform design model in blue color.
The center mainly distributes products of popular mobile phone and notebook manufacturers such as Nokia, Samsung, Motorola, Lenovo, HP, Toshiba and NEC.
On the occasion of the opening, the company also launched its promotion campaign to offer many gifts worth over VND2bil for clients.
Industry insiders said that with the debut of FPT Retail, Vietnam's mobile and notebook distributing market would see fiercer competition.
The Mobile World Joint Stock Company also launched on Tuesday its new promotion campaign to celebrate its third establishment, offering lucky clients mobile phones manufactured by Nokia, Samsung, and Sony Ericson.
The Mobile World is now the leading company in Vietnam's cell phone segment, holding a market share of over 20% in HCMC. After receiving Mekong Enterprise Fund II investment of US$4.5mil, the company plans to open about 20 more retail shops nationwide.
With the Mobile World's business expansion, the military-run telco Viettel also said that the company has plans to participate in the local mobile phone distribution market.
The company has taken over 15 retail shops of Netra Trading and Investment International Co. Ltd., who lost its foothold in Vietnam in June due to poor business return.
The market survey company GfK Asia Pte. Ltd. (Vietnam) estimated the market growth rate this year for mobile phones at between 40% and 60%.
Source: VNE
Showing posts with label IT. Show all posts
Showing posts with label IT. Show all posts
Thursday, August 30, 2007
Friday, August 17, 2007
Kinh Do bakery buys stake in Sai Thanh software solutions
Commercial baker Kinh Do (KDC), which is listed on the HCM City stock exchange, has expanded its activities into training by buying a stake in the Sai Thanh Solutions Company (SSC).
KDC chairman Tran Kim Thanh said the company had set up its own training centre but needed a professional consulting and training firm to better satisfy staff and client needs.
KDC has acquired 40 per cent of SSC, which specialises in offering solutions for investment, consultation and training in business and management.
Thanh, who is also chairman of SSC, said: "We want to develop SSC into a strong brand with a focus on improving management skills of corporate senior managers. That’s why we entered a co-operation agreement with Singapore Institute of Management (SIM)."
On Tuesday SSC signed an agreement with SIM for a training programme for senior managers as the first step.
SSC also plans to invest VND100 billion (US$) in developing a modern training centre in District 7 in HCM City.
Source: VNS
KDC chairman Tran Kim Thanh said the company had set up its own training centre but needed a professional consulting and training firm to better satisfy staff and client needs.
KDC has acquired 40 per cent of SSC, which specialises in offering solutions for investment, consultation and training in business and management.
Thanh, who is also chairman of SSC, said: "We want to develop SSC into a strong brand with a focus on improving management skills of corporate senior managers. That’s why we entered a co-operation agreement with Singapore Institute of Management (SIM)."
On Tuesday SSC signed an agreement with SIM for a training programme for senior managers as the first step.
SSC also plans to invest VND100 billion (US$) in developing a modern training centre in District 7 in HCM City.
Source: VNS
Wednesday, August 01, 2007
Internet penetration deep but fails to benefit commerce
Vietnam is among the global big boys in terms of internet penetration and user numbers but lags behind in using the net for e-commerce.
According to a recent survey by the Asia Digital Marketing Yearbook (www.asiadma.com), Vietnam was listed 17th in the world in internet use with 15.5mil users and a density of 18.64 users per 100 population.
These numbers surpass the world and Southeast Asian averages - including those of China, Thailand, and Indonesia, but behind Singapore and Malaysia.
"It is remarkable since the internet appeared in the country only a very short time ago - 10 years ago," Deputy Minister of Post and Telematics Tran Duc Lai said.
However, the internet is not used to any great effect: The websites of many ministries and provinces are not updated and do not have useful information; though all universities are connected, only a tiny number of students are able to access the net.
Furthermore, a survey by the Viet Nam Chamber of Commerce and Industry found that 92% of businesses that had websites did not bother to update them, 70% of businesses in big cities did not use web services, and 97% of entrepreneurs did not know about e-commerce.
Lai said: "An urgent task for the ministry and other authorities is to improve the quality of internet use in Vietnam."
Source: VNE
According to a recent survey by the Asia Digital Marketing Yearbook (www.asiadma.com), Vietnam was listed 17th in the world in internet use with 15.5mil users and a density of 18.64 users per 100 population.
These numbers surpass the world and Southeast Asian averages - including those of China, Thailand, and Indonesia, but behind Singapore and Malaysia.
"It is remarkable since the internet appeared in the country only a very short time ago - 10 years ago," Deputy Minister of Post and Telematics Tran Duc Lai said.
However, the internet is not used to any great effect: The websites of many ministries and provinces are not updated and do not have useful information; though all universities are connected, only a tiny number of students are able to access the net.
Furthermore, a survey by the Viet Nam Chamber of Commerce and Industry found that 92% of businesses that had websites did not bother to update them, 70% of businesses in big cities did not use web services, and 97% of entrepreneurs did not know about e-commerce.
Lai said: "An urgent task for the ministry and other authorities is to improve the quality of internet use in Vietnam."
Source: VNE
Friday, July 20, 2007
FPT H1 net doubles as business grows
FPT said on Friday its net profit more than doubled to 436.07 billion dong ($27 million) during the first half of this year.
The Hanoi-based firm, the second-largest on the Ho Chi Minh Stock Exchange, also said in a statement its January to June revenues jumped 25 percent from a year earlier to 5.9 trillion dong ($365.6 million).
Shares in FPT were trading up 0.35 percent at 286,000 dong ($17.7) at 0136 GMT on Friday after the company released the first half results.
"FPT has expanded to areas in which information technology plays a role as the important momentum in raising the quality of products, services and management level," the statement said.
FPT said it has formed subsidiaries to deal with retail sales, stock broking and also contributed funds to form a fund management firm and a commercial bank.
Stockbroking services for which FPT received a licence a week ago, takes the company, now with a market value of $1.6 billion, outside its core businesses of software production, mobile phone distribution and Internet services.
Source: Reuters
The Hanoi-based firm, the second-largest on the Ho Chi Minh Stock Exchange, also said in a statement its January to June revenues jumped 25 percent from a year earlier to 5.9 trillion dong ($365.6 million).
Shares in FPT were trading up 0.35 percent at 286,000 dong ($17.7) at 0136 GMT on Friday after the company released the first half results.
"FPT has expanded to areas in which information technology plays a role as the important momentum in raising the quality of products, services and management level," the statement said.
FPT said it has formed subsidiaries to deal with retail sales, stock broking and also contributed funds to form a fund management firm and a commercial bank.
Stockbroking services for which FPT received a licence a week ago, takes the company, now with a market value of $1.6 billion, outside its core businesses of software production, mobile phone distribution and Internet services.
Source: Reuters
Wednesday, July 18, 2007
IDG pours venture capital into software, ad companies
The International Data Group (IDG) last Friday announced plans to invest in a local software developer and advertising firm via its venture capital fund.
International Data Group Ventures Viet Nam, the country’s first technology venture capital fund, plans to buy into Vega Software JSC and Goldsun Focus Media JSC.
"We are extremely excited about the fund’s investment in Vega and Goldsun. Vega is an innovative technology company with a solid track record of multiple innovative products," says Nguyen Bao Hoang, the fund’s managing director.
"Goldsun Focus Media is another terrific company with a strong local brand name in advertising, an excellent management team and a partnership with NASDAQ-listed Focus Media from China."
It is not the first time IDG has teamed up with Goldsun. In November 2006, the advertising company launched the VND80 billion (US$5 million) Out-Of-Home Media project, during which IDG participated as a strategic shareholder.
"We welcome IDG Ventures Viet Nam as a strategic investor. With the fund’s support and capital, we believe our growth targets will be achieved, becoming one of the leading technology companies in Viet Nam and the region," said Vega Software CEO Le Huu Son.
The IDG fund has pumped a combined $25 million into 16 Vietnamese companies, focusing mainly on technology and communications. Fund managers plan to announce another 6-8 investments worth about $12 million by the end of the year, expanding into new areas including bio-technology.
IDG also plans to set up a second fund in Viet Nam worth around $250 million in 2007 to raise its total investment into the country to $650 million, says IDG President Patrick McGovern.
Source: VNS
International Data Group Ventures Viet Nam, the country’s first technology venture capital fund, plans to buy into Vega Software JSC and Goldsun Focus Media JSC.
"We are extremely excited about the fund’s investment in Vega and Goldsun. Vega is an innovative technology company with a solid track record of multiple innovative products," says Nguyen Bao Hoang, the fund’s managing director.
"Goldsun Focus Media is another terrific company with a strong local brand name in advertising, an excellent management team and a partnership with NASDAQ-listed Focus Media from China."
It is not the first time IDG has teamed up with Goldsun. In November 2006, the advertising company launched the VND80 billion (US$5 million) Out-Of-Home Media project, during which IDG participated as a strategic shareholder.
"We welcome IDG Ventures Viet Nam as a strategic investor. With the fund’s support and capital, we believe our growth targets will be achieved, becoming one of the leading technology companies in Viet Nam and the region," said Vega Software CEO Le Huu Son.
The IDG fund has pumped a combined $25 million into 16 Vietnamese companies, focusing mainly on technology and communications. Fund managers plan to announce another 6-8 investments worth about $12 million by the end of the year, expanding into new areas including bio-technology.
IDG also plans to set up a second fund in Viet Nam worth around $250 million in 2007 to raise its total investment into the country to $650 million, says IDG President Patrick McGovern.
Source: VNS
Friday, July 13, 2007
Vietnam’s first data security enterprise set up
Vina Information Technology Data Services Joint Stock Company and ICT Partnership opened a modern data centre in Ho Chi Minh City on July 12 to meet strong corporate demand for data security.
VinaData Center, the first independent facility of its kind in Vietnam, uses the latest technologies from HP, Cisco, and Intel, and targets small and medium-sized enterprises, especially in banking, finance, ICT, and energy.
“Delivering network efficiency and performance by optimising data solutions for even the most complex applications and demanding customers is our goal,” said Tran Thanh Hai, VinaData’s Chief Executive Officer, at a press briefing.
By incorporating technology, expertise, and hardware from Hewlett Packard and Cisco, two of the world’s top IT solutions providers, the centre will also provide consultancy and surveillance in risk-warning solutions using both direct and remote monitoring technology.
These solutions were especially appropriate for the sophisticated information infrastructure required in the banking, finance, ICT, Internet, energy and insurance industries.
The centre will also provide maintenance, technology, and solution consulting services and even remote monitoring services to meet requirements.
Source: VNE
VinaData Center, the first independent facility of its kind in Vietnam, uses the latest technologies from HP, Cisco, and Intel, and targets small and medium-sized enterprises, especially in banking, finance, ICT, and energy.
“Delivering network efficiency and performance by optimising data solutions for even the most complex applications and demanding customers is our goal,” said Tran Thanh Hai, VinaData’s Chief Executive Officer, at a press briefing.
By incorporating technology, expertise, and hardware from Hewlett Packard and Cisco, two of the world’s top IT solutions providers, the centre will also provide consultancy and surveillance in risk-warning solutions using both direct and remote monitoring technology.
These solutions were especially appropriate for the sophisticated information infrastructure required in the banking, finance, ICT, Internet, energy and insurance industries.
The centre will also provide maintenance, technology, and solution consulting services and even remote monitoring services to meet requirements.
Source: VNE
IT sector poised for growth, but profits are not certain
Vietnam is expected to attract more foreign investment for information and communication technology (ICT) projects, but whether they can turn a profit within a reasonable amount of time is uncertain, according to participants at a recent conference.
"Money is not a problem for investors. The most important thing is to persuade investors that ICT projects in Vietnam will make a profit," Miguel Pardo de Zela, the US Embassy's Commercial Counsellor, said yesterday during the Vietnam ICT Outlook 2007 (VIO) conference in HCM City.
Investors will often pour $20-100mil into a fund within five years with an expected profit of 30%.
"Investors will consider whether they will earn a profit and whether they can take out all of their profits," Pardo de Zela said.
He said if Vietnam's ICT projects caught up with global trends they would earn huge profits.
"Telecommunications with mobile devices, digital data centres, and electronic transactions are the future of the ICT industry," he added.
Services that would be useful for Vietnamese ICT businesses to consider would be customer care centres, medical data management, financial and account services, and digital services for media, as well as map information systems, personnel management, and electronic training and research.
"Along with a well-prepared development plan, Vietnamese enterprises should invest in good human resources and co-operate with an investor that deeply understands what you will do," Pardo de Zeia said.
"Don't forget about the risk factor. It's a part of project and business people should have plans to reduce its impact."
The first fund for technology investment in Vietnam, the US-based IDG Ventures Vietnam, is expected to contribute to IT growth.
Nguyen Hong Truong, director of IDG's Business & Technology Development, said more investment would flow to Vietnam's ICT sector.
Vietnam, according to a recent survey, is the "most optimistic" country in Asia. Seventy per cent of the population is under 35 years old and 47mil are of working age. The literacy rate is very high, at 94%, and English is becoming more and more popular.
The country has a large and fast growing consumer population with consumer spending growth of 8.4% last year, and a high, steady GDP growth of around 7.5-8%.
"Vietnam has been drawing increasing attention, due in part to its recent entrance to the WTO and improved conditions for private equity investors. The level of foreign direct investment and capital market have rapidly grown," Truong said.
In addition, the high rate of technology use, including mobile phones and the internet, with around 15mil users for each, is another attraction for the fund.
Next week, the fund will announce its investment in Focus Media for its new style of ads via TV screens in public places.
At the conference, the director of the Ministry of Science and Technology's IT centre, Mai Anh said that the Government had played a key role in ICT development and application.
"The government has strongly supported ICT development for more than 10 years," Mai Anh said. "However, ICT application in government agencies is slow and ineffective."
"All sectors are mutually interdependent. Information sharing between State agencies is critical. Therefore, a national programme for E-government is very important in the flat world of today," he added.
Source: VNE
"Money is not a problem for investors. The most important thing is to persuade investors that ICT projects in Vietnam will make a profit," Miguel Pardo de Zela, the US Embassy's Commercial Counsellor, said yesterday during the Vietnam ICT Outlook 2007 (VIO) conference in HCM City.
Investors will often pour $20-100mil into a fund within five years with an expected profit of 30%.
"Investors will consider whether they will earn a profit and whether they can take out all of their profits," Pardo de Zela said.
He said if Vietnam's ICT projects caught up with global trends they would earn huge profits.
"Telecommunications with mobile devices, digital data centres, and electronic transactions are the future of the ICT industry," he added.
Services that would be useful for Vietnamese ICT businesses to consider would be customer care centres, medical data management, financial and account services, and digital services for media, as well as map information systems, personnel management, and electronic training and research.
"Along with a well-prepared development plan, Vietnamese enterprises should invest in good human resources and co-operate with an investor that deeply understands what you will do," Pardo de Zeia said.
"Don't forget about the risk factor. It's a part of project and business people should have plans to reduce its impact."
The first fund for technology investment in Vietnam, the US-based IDG Ventures Vietnam, is expected to contribute to IT growth.
Nguyen Hong Truong, director of IDG's Business & Technology Development, said more investment would flow to Vietnam's ICT sector.
Vietnam, according to a recent survey, is the "most optimistic" country in Asia. Seventy per cent of the population is under 35 years old and 47mil are of working age. The literacy rate is very high, at 94%, and English is becoming more and more popular.
The country has a large and fast growing consumer population with consumer spending growth of 8.4% last year, and a high, steady GDP growth of around 7.5-8%.
"Vietnam has been drawing increasing attention, due in part to its recent entrance to the WTO and improved conditions for private equity investors. The level of foreign direct investment and capital market have rapidly grown," Truong said.
In addition, the high rate of technology use, including mobile phones and the internet, with around 15mil users for each, is another attraction for the fund.
Next week, the fund will announce its investment in Focus Media for its new style of ads via TV screens in public places.
At the conference, the director of the Ministry of Science and Technology's IT centre, Mai Anh said that the Government had played a key role in ICT development and application.
"The government has strongly supported ICT development for more than 10 years," Mai Anh said. "However, ICT application in government agencies is slow and ineffective."
"All sectors are mutually interdependent. Information sharing between State agencies is critical. Therefore, a national programme for E-government is very important in the flat world of today," he added.
Source: VNE
Wednesday, July 11, 2007
Viet Nam tipped to become outsourcing hub
An online article for CNET News has predicted that Viet Nam is to become a more popular outsourcing destination than both China and India within the next five years.
The tip was made on July 10 by Harvey Nash, a British recruitment company that recently acquired Ho Chi Minh-based recruitment business SilkRoad for 1.8 million USD.
The recruitment company said Viet Nam has the second-highest gross domestic product growth after China and the country is now the third-largest offshore-services destination in Southeast Asia.
The emerging position of Viet Nam as a new outsourcing hub was firmed up by a fast-growing information technology work force. The country’s labour pool has about 80,000 IT graduates with some 9,000 more graduates added every year.
More than half of Viet Nam’s 84 million population is under 25 years old and the number of science-majoring students account for 83 percent of the total number of graduates.
"With a growing and youthful IT workforce, low costs and high aspirations to develop its software services, Viet Nam is a natural offshore location and has all the ingredients to become the leading market choice in the next few years," said SilkRoad CEO Marc Voss in a recent statement.
Companies already outsourcing IT services to Vietnam include Honda Motor and Intel, the world leading chip producer that just invested 1 billion USD in a chip factory in southern Viet Nam.
Source: VNA
The tip was made on July 10 by Harvey Nash, a British recruitment company that recently acquired Ho Chi Minh-based recruitment business SilkRoad for 1.8 million USD.
The recruitment company said Viet Nam has the second-highest gross domestic product growth after China and the country is now the third-largest offshore-services destination in Southeast Asia.
The emerging position of Viet Nam as a new outsourcing hub was firmed up by a fast-growing information technology work force. The country’s labour pool has about 80,000 IT graduates with some 9,000 more graduates added every year.
More than half of Viet Nam’s 84 million population is under 25 years old and the number of science-majoring students account for 83 percent of the total number of graduates.
"With a growing and youthful IT workforce, low costs and high aspirations to develop its software services, Viet Nam is a natural offshore location and has all the ingredients to become the leading market choice in the next few years," said SilkRoad CEO Marc Voss in a recent statement.
Companies already outsourcing IT services to Vietnam include Honda Motor and Intel, the world leading chip producer that just invested 1 billion USD in a chip factory in southern Viet Nam.
Source: VNA
Tuesday, July 10, 2007
From Catfish to Computers
Vietnam has long been known as a low-cost manufacturer of Nike sneakers, blouses for Liz Claiborne, and wooden furniture, not to mention its huge exports of coffee, catfish, and rice. But a growing wave of high-tech investors is helping this country of 84 million lay the foundation to become Southeast Asia's next big center for electronics manufacturing.
The world started to take notice after Intel made big headlines more than a year ago when it announced it was building a semiconductor test-and-assembly facility in Vietnam. As expected, Intel's $1 billion investment was pivotal in raising Vietnam's profile and has since helped attract other IT companies.
"The real 'Intel effect' is starting to occur," says Henry Nguyen, managing partner at IDG Ventures Vietnam. "Upstream and downstream partners and suppliers and customers it needs are coming."
Vietnam's accession to the World Trade Organization in January is also widely seen as a boon for export potential, and the country has just unveiled an ambitious program to goose electronics exports. The government aims to see those exports grow to as much as $5 billion by 2010. According to the Vietnam Electronics Industry Assn., exports last year totaled $1.4 billion, a 34.1% increase over 2005.
Expanding Into TVs
That ambitious target is premised on the realization of some enormous investments in the pipeline. Foxconn of Taiwan, also known as Hon Hai, the world's largest contract manufacturer -- with clients like Hewlett Packard, Dell, and Apple -- has applied for a license to invest up to $5 billion. It plans to manufacture electronics and computer products including digital cameras, personal computer printed circuit motherboards, and music players.
The venture would employ up to 30,000 workers. A contract manufacturer is a company that manufactures components or products for another company under its own brand name.
Compal Electronics has unveiled plans to invest $500 million to build notebook PCs in Vietnam. It also plans to expand into LCD TVs, said Chairman Rock Hsu Sheng-Hsiung at an annual shareholders meeting in June. Compal is expected to receive its investment license in July.
A June report by industry research group iSuppli predicts that contract manufacturing in Vietnam will grow more than 100% annually between 2006 and 2011. The sector is expected to explode from $36 million in 2006 to as much as $1.8 billion by 2011 as more major manufacturers move in, making it the fastest-growing sector in the area.
Moving to Hi-Tech Park
Although these investors are focused primarily on exports, Vietnam is gradually becoming an important market in its own right. It boasts the region's second-fastest-growing economy after China, and its rapidly expanding middle class is buying up cell phones, personal computers, and iPods. There are some 10 million mobile phone subscribers, and computer penetration in Hanoi and Ho Chi Minh City is approaching 50%, says Intel.
The most recent example of this trend is Jabil Circuit of St. Petersburg, Fla., which in June began operations at its facility in Saigon Hi-Tech Park in Ho Chi Minh City, where it makes laser printers for HP. Jabil plans to spend up to $100 million on its operations in Vietnam, which is increasingly seen as an alternative to China.
"Vietnam will be able to offer us competitive costing," says C.C. Lum, Jabil's regional commodity manager for Asia Pacific. "It is also important to have a location outside China." While the minimum wage in Vietnam of about $60 per month is less than in much of coastal China, Lum says that China's extensive network of component suppliers still gives it the edge.
Training a Young Workforce
But Vietnam's reliance on imported parts will change as more suppliers follow their customers. Allied Technologies of Singapore operates three separate divisions supplying Jabil. In operation since 2005, it now employs 250 workers in metal stamping, plastic molding, and extrusion facilities for parts Jabil uses to produce HP printers.
Another big challenge is training Vietnam's young yet inexperienced workforce. The government hopes to double the number of qualified IT workers to 330,000 by 2015, of whom 240,000 will be electronics and telecom specialists. It aims for 15,000 with masters or doctorate degrees.
That's an ambitious target. In 2006, Vietnam had roughly 9,000 IT graduates, according to the Vietnam Software Assn. Lam Nguyen, director of IDC Vietnam, says the country could become a strong player more quickly if it could tap into the pool of overseas Vietnamese talent. "These overseas Vietnamese would transfer technical knowledge and innovation/creative leadership to assume cost advantages," he says.
Overseas Companies Investing
As in other emerging markets, the industry itself will take the lead in developing appropriate skills. For example, Altera, of San Jose, Calif., on June 4 announced it would establish a technology center in Ho Chi Minh City to support its global chipset development network. This is part of Altera's strategy to develop its international contingent of engineers.
One of the first overseas companies to recognize the importance of investing in the local labor force was Japanese semiconductor design company Renesas Technology. In 2004 it established Renesas Design Vietnam, which develops LSI [large scale integrated] devices for applications in consumer electronics, mobile products, and automobiles.
"The young engineers are relatively excellent, smart, and very serious about study and work," says Tsuneo Sato, chief executive officer of Renesas Vietnam, which employs 150 and plans to expand to 500 in two or three years.
He also says that unlike the Chinese, workers in Vietnam "don't so frequently job hop." However, that's likely more a function of supply and demand for engineers -- and as others wake up to the idea of the country's IT potential, staff turnover will become a big challenge there, too.
Source: Businessweek
The world started to take notice after Intel made big headlines more than a year ago when it announced it was building a semiconductor test-and-assembly facility in Vietnam. As expected, Intel's $1 billion investment was pivotal in raising Vietnam's profile and has since helped attract other IT companies.
"The real 'Intel effect' is starting to occur," says Henry Nguyen, managing partner at IDG Ventures Vietnam. "Upstream and downstream partners and suppliers and customers it needs are coming."
Vietnam's accession to the World Trade Organization in January is also widely seen as a boon for export potential, and the country has just unveiled an ambitious program to goose electronics exports. The government aims to see those exports grow to as much as $5 billion by 2010. According to the Vietnam Electronics Industry Assn., exports last year totaled $1.4 billion, a 34.1% increase over 2005.
Expanding Into TVs
That ambitious target is premised on the realization of some enormous investments in the pipeline. Foxconn of Taiwan, also known as Hon Hai, the world's largest contract manufacturer -- with clients like Hewlett Packard, Dell, and Apple -- has applied for a license to invest up to $5 billion. It plans to manufacture electronics and computer products including digital cameras, personal computer printed circuit motherboards, and music players.
The venture would employ up to 30,000 workers. A contract manufacturer is a company that manufactures components or products for another company under its own brand name.
Compal Electronics has unveiled plans to invest $500 million to build notebook PCs in Vietnam. It also plans to expand into LCD TVs, said Chairman Rock Hsu Sheng-Hsiung at an annual shareholders meeting in June. Compal is expected to receive its investment license in July.
A June report by industry research group iSuppli predicts that contract manufacturing in Vietnam will grow more than 100% annually between 2006 and 2011. The sector is expected to explode from $36 million in 2006 to as much as $1.8 billion by 2011 as more major manufacturers move in, making it the fastest-growing sector in the area.
Moving to Hi-Tech Park
Although these investors are focused primarily on exports, Vietnam is gradually becoming an important market in its own right. It boasts the region's second-fastest-growing economy after China, and its rapidly expanding middle class is buying up cell phones, personal computers, and iPods. There are some 10 million mobile phone subscribers, and computer penetration in Hanoi and Ho Chi Minh City is approaching 50%, says Intel.
The most recent example of this trend is Jabil Circuit of St. Petersburg, Fla., which in June began operations at its facility in Saigon Hi-Tech Park in Ho Chi Minh City, where it makes laser printers for HP. Jabil plans to spend up to $100 million on its operations in Vietnam, which is increasingly seen as an alternative to China.
"Vietnam will be able to offer us competitive costing," says C.C. Lum, Jabil's regional commodity manager for Asia Pacific. "It is also important to have a location outside China." While the minimum wage in Vietnam of about $60 per month is less than in much of coastal China, Lum says that China's extensive network of component suppliers still gives it the edge.
Training a Young Workforce
But Vietnam's reliance on imported parts will change as more suppliers follow their customers. Allied Technologies of Singapore operates three separate divisions supplying Jabil. In operation since 2005, it now employs 250 workers in metal stamping, plastic molding, and extrusion facilities for parts Jabil uses to produce HP printers.
Another big challenge is training Vietnam's young yet inexperienced workforce. The government hopes to double the number of qualified IT workers to 330,000 by 2015, of whom 240,000 will be electronics and telecom specialists. It aims for 15,000 with masters or doctorate degrees.
That's an ambitious target. In 2006, Vietnam had roughly 9,000 IT graduates, according to the Vietnam Software Assn. Lam Nguyen, director of IDC Vietnam, says the country could become a strong player more quickly if it could tap into the pool of overseas Vietnamese talent. "These overseas Vietnamese would transfer technical knowledge and innovation/creative leadership to assume cost advantages," he says.
Overseas Companies Investing
As in other emerging markets, the industry itself will take the lead in developing appropriate skills. For example, Altera, of San Jose, Calif., on June 4 announced it would establish a technology center in Ho Chi Minh City to support its global chipset development network. This is part of Altera's strategy to develop its international contingent of engineers.
One of the first overseas companies to recognize the importance of investing in the local labor force was Japanese semiconductor design company Renesas Technology. In 2004 it established Renesas Design Vietnam, which develops LSI [large scale integrated] devices for applications in consumer electronics, mobile products, and automobiles.
"The young engineers are relatively excellent, smart, and very serious about study and work," says Tsuneo Sato, chief executive officer of Renesas Vietnam, which employs 150 and plans to expand to 500 in two or three years.
He also says that unlike the Chinese, workers in Vietnam "don't so frequently job hop." However, that's likely more a function of supply and demand for engineers -- and as others wake up to the idea of the country's IT potential, staff turnover will become a big challenge there, too.
Source: Businessweek
Friday, July 06, 2007
FPT to cooperate with India's Aptech
India's Aptech Ltd. said on Thursday it had signed a preliminary agreement with Vietnam's FPT for setting up 20 new training centres by 2008, as it seeks to tap growing demand for software services skills.
The Indian computer training firm said it expected revenues in Vietnam to top $30 million by the end of 2009, more than double the $12 million it expects in 2007.
Aptech and FPT struck an alliance in 1999 for training in Vietnam, starting with two centres. Aptech now has 31 centres, it said in a statement after the agreement was signed at an India-Vietnam business forum in Mumbai.
Source: Reuters
The Indian computer training firm said it expected revenues in Vietnam to top $30 million by the end of 2009, more than double the $12 million it expects in 2007.
Aptech and FPT struck an alliance in 1999 for training in Vietnam, starting with two centres. Aptech now has 31 centres, it said in a statement after the agreement was signed at an India-Vietnam business forum in Mumbai.
Source: Reuters
Sunday, July 01, 2007
FPT to ease IT troubles for textile company
FPT Information System (FPT-IS) has signed a contract with the Thanh Cong Textile and Garment Company to provide an overall IT solution for its securities business.
It will supply hardware and software for stock management, on-line transactions and the company's website.
The package will allow Thanh Cong Securities' customers to place their order and confirm its execution through the internet.
The system comes with a guarantee of high security and the ability to switch a stand-by system within one minute in case of a crash.
Thanh Cong, which has been in the textile and garment industry for more than 30 years, recently expanded into real estate, and now the securities market.
Source: VNA
It will supply hardware and software for stock management, on-line transactions and the company's website.
The package will allow Thanh Cong Securities' customers to place their order and confirm its execution through the internet.
The system comes with a guarantee of high security and the ability to switch a stand-by system within one minute in case of a crash.
Thanh Cong, which has been in the textile and garment industry for more than 30 years, recently expanded into real estate, and now the securities market.
Source: VNA
Friday, June 15, 2007
FPT Software '07 revenues to double
FPT Software JSC, a subsidiary of Vietnam's largest information technology firm FPT Corp. (FPT) said on Monday its revenues would nearly double to $30 million this year compared to 2006 thanks to strong outsourcing demand.
"To meet business demand, we plan to increase our staff to 5,000 people by the end of 2008 from 2,000 now," Hoang Kiem Chi, Communication Manager for FPT Software JSC said.
"We are aiming for very strong growth in the next few years," Chi said.
She said revenues next year would rise to $50 million from $30 million targetted this year.
FPT Corp has said the group's revenues this year would jump 50% from 2006 when revenues were reported at $724 million thanks to outsourcing business and new lines of business including telephone services, cable television and property.
Chi said FPT Software, which has a chartered capital of just $6.9 million, would eventually list its shares on a stock market. About 70% is owned by FPT Corp and the rest by staff.
"There is no specific timeframe for the share listing plan yet and FPT Software might choose to list overseas," she said.
In March FPT Software established its wholly-owned Asia-Pacific FPT Software Co, Ltd in Singapore as part of its plan to expand outsourcing business in Southeast Asia.
The Hanoi-based company also has a subsidiary in Japan with offices in Tokyo and Osaka to cater to Japanese clients including IBM Japan, Hitachi Group, Panasonic and Sanyo Group.
Source: Reuters
"To meet business demand, we plan to increase our staff to 5,000 people by the end of 2008 from 2,000 now," Hoang Kiem Chi, Communication Manager for FPT Software JSC said.
"We are aiming for very strong growth in the next few years," Chi said.
She said revenues next year would rise to $50 million from $30 million targetted this year.
FPT Corp has said the group's revenues this year would jump 50% from 2006 when revenues were reported at $724 million thanks to outsourcing business and new lines of business including telephone services, cable television and property.
Chi said FPT Software, which has a chartered capital of just $6.9 million, would eventually list its shares on a stock market. About 70% is owned by FPT Corp and the rest by staff.
"There is no specific timeframe for the share listing plan yet and FPT Software might choose to list overseas," she said.
In March FPT Software established its wholly-owned Asia-Pacific FPT Software Co, Ltd in Singapore as part of its plan to expand outsourcing business in Southeast Asia.
The Hanoi-based company also has a subsidiary in Japan with offices in Tokyo and Osaka to cater to Japanese clients including IBM Japan, Hitachi Group, Panasonic and Sanyo Group.
Source: Reuters
Monday, May 28, 2007
High internet penetration in Vietnam
Vietnam has entered the top 20 nations with the highest internet penetration paving the way for increasing broadband subscribers to 2010. The country ranked 17th out of 20 countries with the highest internet usage with 15.5 million internet users in March.Minister of Post and Telematics Do Trung Ta said Vietnam had set its sights on Malaysia and Singapore which have 36.6% and 56.3% ratios respectively.
“With this background, we can step up internet user penetration during 2007-2010,” said Ta.Vietnam hopes to have a 35-40% internet penetration rate in 2010, equivalent to 13-14 internet accounts per 100 people.Among internet users to 2010, 30% will be broadband internet subscribers including all state agencies, high schools, institutes and universities.
VNPT Group’s Vietnam DataCommunication Company (VDC) director Vu Hoang Lien said the group’s number of internet subscribers would account for a half of the country’s total by 2010, the bulk of them being broadband internet users.“The number of dial-up users has kept falling but is steady in rural and mountainous areas. However, once broadband internet reaches these areas, dial-up services will automatically disappear,” said Lien.Dial-up revenue accounted for 20% of VDC’s revenue at the beginning of this year and halved in April.
The group plans to hook all provinces up with broadband connections and networks including the next generation network (NGN), metropolitan area network (MAN) Ethernet and wireless Wifi and Wimax to boost the number of ADSL subscribers.
The current number of broadband users in Vietnam is less than 1% of the country’s population. Viettel deputy general director Nguyen Manh Hung said all operators should use mobile networks for developing broadband internet users once networks offered 3G services.
“Vietnam will have done a big job if total internet broadband penetration is 10% by 2010 and it needs support from mobile services, which have a 35% penetration rate,” said Hung.
He said in order to boost the number of internet broadband users, carriers should cut rentals for international channels for operators in order to reduce usage costs for end-users and promote content for domestic usage. International channel rentals make up 30% of $15 of production cost for an ADSL user.
The international channel still accounts for around 30% of production cost for an ADSL subscriber, while users often surf outside Vietnam due to a lack of Vietnamese content.
“The mobile network has a high number of stations and may offer broadband services once the network is redundant for providing mobile services,” Hung said.
Source: VIR
“With this background, we can step up internet user penetration during 2007-2010,” said Ta.Vietnam hopes to have a 35-40% internet penetration rate in 2010, equivalent to 13-14 internet accounts per 100 people.Among internet users to 2010, 30% will be broadband internet subscribers including all state agencies, high schools, institutes and universities.
VNPT Group’s Vietnam DataCommunication Company (VDC) director Vu Hoang Lien said the group’s number of internet subscribers would account for a half of the country’s total by 2010, the bulk of them being broadband internet users.“The number of dial-up users has kept falling but is steady in rural and mountainous areas. However, once broadband internet reaches these areas, dial-up services will automatically disappear,” said Lien.Dial-up revenue accounted for 20% of VDC’s revenue at the beginning of this year and halved in April.
The group plans to hook all provinces up with broadband connections and networks including the next generation network (NGN), metropolitan area network (MAN) Ethernet and wireless Wifi and Wimax to boost the number of ADSL subscribers.
The current number of broadband users in Vietnam is less than 1% of the country’s population. Viettel deputy general director Nguyen Manh Hung said all operators should use mobile networks for developing broadband internet users once networks offered 3G services.
“Vietnam will have done a big job if total internet broadband penetration is 10% by 2010 and it needs support from mobile services, which have a 35% penetration rate,” said Hung.
He said in order to boost the number of internet broadband users, carriers should cut rentals for international channels for operators in order to reduce usage costs for end-users and promote content for domestic usage. International channel rentals make up 30% of $15 of production cost for an ADSL user.
The international channel still accounts for around 30% of production cost for an ADSL subscriber, while users often surf outside Vietnam due to a lack of Vietnamese content.
“The mobile network has a high number of stations and may offer broadband services once the network is redundant for providing mobile services,” Hung said.
Source: VIR
Monday, May 07, 2007
VNPT and Bao Viet cooperate
The Vietnam Post and Telecom Group (VNPT) has entered into a cooperative deal with Vietnam's largest insurance firm Bao Viet to support mutual development.
Under the deal signed Monday in Hanoi, VNPT and Bao Viet Insurance Corp will work together as strategic partners, each reserving a major chunk of shares for the other to purchase on a mutual basis.
The leading telecom provider will support Bao Viet to develop advanced IT applications in the top insurer as well as its affiliates.
In return, the insurer would provide insurance services for VNPT’s business activities.
The new formal strategic cooperation with a leading insurer will enable VNPT to expand services and develop financial operations with the telecom business.
They will also assist each other in training staff, according to the agreement.
VNPT is in talks with the Bank for Development of Vietnam (BIDV) as a strategic partner to either set up or control a major portion of stakes in companies involved in the country’s forthcoming key mega projects.
These comprise the express way connecting the Ho Chi Minh City – Long Thanh – Dau Giay, the Vietnam-Laos Hydropower plant, Vietnam – Cambodia Hydropower plant, and a bank for trade, industry and services of Vietnam.
VNPT, last year, became a member of the ASEAN Telecom Holding Company (ATH/ACASIA), one of the Association of Southeast Asian Nations (ASEAN)'s leading primary network service providers, made up of the six leading telecom providers in the region, namely CAT, Indosat, JTB, PLDT, Singtel and Telekom Malaysia.
Bao Viet is set to offer an 18% stake to foreign investors while the state will retain 65.34% of ownership.
The top insurer will auction more than 59.4 million shares or 8.74% of the firm's total to the public and 0.7% to employees and the remaining 7.22% to strategic investors.
Further details on the auction were not available.
Bao Viet group has a registered capital of VND6.8 trillion (US$422) million.
Bao Viet Securities, a subsidiary of Bao Viet, listed on the Hanoi exchange last December.
The securities firm is a new business of Bao Viet which has said it would diversify into banking, financial leasing, real estate and public health insurance.
Vietnam's insurance sector has grown rapidly in recent years in line with the economy, which is targeted to expand 8.5% this year after growth of more than 8% in 2005 and 2006.
Source: Thanh Nien
Under the deal signed Monday in Hanoi, VNPT and Bao Viet Insurance Corp will work together as strategic partners, each reserving a major chunk of shares for the other to purchase on a mutual basis.
The leading telecom provider will support Bao Viet to develop advanced IT applications in the top insurer as well as its affiliates.
In return, the insurer would provide insurance services for VNPT’s business activities.
The new formal strategic cooperation with a leading insurer will enable VNPT to expand services and develop financial operations with the telecom business.
They will also assist each other in training staff, according to the agreement.
VNPT is in talks with the Bank for Development of Vietnam (BIDV) as a strategic partner to either set up or control a major portion of stakes in companies involved in the country’s forthcoming key mega projects.
These comprise the express way connecting the Ho Chi Minh City – Long Thanh – Dau Giay, the Vietnam-Laos Hydropower plant, Vietnam – Cambodia Hydropower plant, and a bank for trade, industry and services of Vietnam.
VNPT, last year, became a member of the ASEAN Telecom Holding Company (ATH/ACASIA), one of the Association of Southeast Asian Nations (ASEAN)'s leading primary network service providers, made up of the six leading telecom providers in the region, namely CAT, Indosat, JTB, PLDT, Singtel and Telekom Malaysia.
Bao Viet is set to offer an 18% stake to foreign investors while the state will retain 65.34% of ownership.
The top insurer will auction more than 59.4 million shares or 8.74% of the firm's total to the public and 0.7% to employees and the remaining 7.22% to strategic investors.
Further details on the auction were not available.
Bao Viet group has a registered capital of VND6.8 trillion (US$422) million.
Bao Viet Securities, a subsidiary of Bao Viet, listed on the Hanoi exchange last December.
The securities firm is a new business of Bao Viet which has said it would diversify into banking, financial leasing, real estate and public health insurance.
Vietnam's insurance sector has grown rapidly in recent years in line with the economy, which is targeted to expand 8.5% this year after growth of more than 8% in 2005 and 2006.
Source: Thanh Nien
Thursday, May 03, 2007
Software industry aims at 800 million US$ revenue
Though obtaining satisfactory results recently, the software industry of Vietnam has not demonstrated its full ability yet.
The expectations for this key industry have been raised again since the government approved the programme to develop the software industry of Vietnam to 2010 in mid April.
The most important point of this programme is identifying the goals, policies, specific measures and the expenses for the programme. According to many IT experts, those goals are appropriate to the country’s ability if solutions are performed seriously.
According to the government’s viewpoint, the software industry is a knowledge-based, hi-tech economic sector, with high added value and export revenue, significantly contributing to modernisation and industrialisation. Vietnam especially encourages and creates favourable conditions for drawing investment and developing this industry as a core economic sector of the national economy.
Developing human resources is considered the key to the success of the software industry. Information services will be a focus, firstly outsourcing services for foreign clients, along with expanding the local market and developing some major software to replace imported products.
The programme aims to obtain an average growth rate of 35-40% a year, total revenue of over US$800 million, including at least 40% from exports. The workforce for the software sector will be around 55,000-60,000, with average production value of US$15,000/person/year. By 2010, Vietnam must have around 10 software companies which have over 1,000 employees and 200 companies with over 100 employees.
Vietnam has also set the goal of becoming one of the leading countries in attracting foreign investment in the software industry and one of the top 15 nations providing software outsourcing service in the world. Another goal is reducing the rate of software infringement to the average of the region.
To realise those targets, the Software Industry Development Programme proposes some policies and solutions, including the improvement of the legal environment and State management capability. The programme also proposes measures to develop human resources for the software industry.
Accordingly, software companies that meet conditions on human resources and infrastructure, especially companies in Hanoi, Da Nang and HCM City, will be helped to raise their competitiveness. Some software parks will be also developed in the three above cities.
The programme also lays out many projects and schemes to develop the software industry in various aspects like human resources, trademarks, trade promotion, market development, software export.
One of the most important points of the programme is that in 2010 the State will give priority to the programme. Accordingly, US$70 million will be invested in the programme: 30% from the State budget, 30% from local budgets, and 40% from enterprises, associations, ODA sources and other sources.
The Ministry of Post and Telematics will coordinate with ministries, government agencies, and local authorities to implement this programme.
Source: VET
The expectations for this key industry have been raised again since the government approved the programme to develop the software industry of Vietnam to 2010 in mid April.
The most important point of this programme is identifying the goals, policies, specific measures and the expenses for the programme. According to many IT experts, those goals are appropriate to the country’s ability if solutions are performed seriously.
According to the government’s viewpoint, the software industry is a knowledge-based, hi-tech economic sector, with high added value and export revenue, significantly contributing to modernisation and industrialisation. Vietnam especially encourages and creates favourable conditions for drawing investment and developing this industry as a core economic sector of the national economy.
Developing human resources is considered the key to the success of the software industry. Information services will be a focus, firstly outsourcing services for foreign clients, along with expanding the local market and developing some major software to replace imported products.
The programme aims to obtain an average growth rate of 35-40% a year, total revenue of over US$800 million, including at least 40% from exports. The workforce for the software sector will be around 55,000-60,000, with average production value of US$15,000/person/year. By 2010, Vietnam must have around 10 software companies which have over 1,000 employees and 200 companies with over 100 employees.
Vietnam has also set the goal of becoming one of the leading countries in attracting foreign investment in the software industry and one of the top 15 nations providing software outsourcing service in the world. Another goal is reducing the rate of software infringement to the average of the region.
To realise those targets, the Software Industry Development Programme proposes some policies and solutions, including the improvement of the legal environment and State management capability. The programme also proposes measures to develop human resources for the software industry.
Accordingly, software companies that meet conditions on human resources and infrastructure, especially companies in Hanoi, Da Nang and HCM City, will be helped to raise their competitiveness. Some software parks will be also developed in the three above cities.
The programme also lays out many projects and schemes to develop the software industry in various aspects like human resources, trademarks, trade promotion, market development, software export.
One of the most important points of the programme is that in 2010 the State will give priority to the programme. Accordingly, US$70 million will be invested in the programme: 30% from the State budget, 30% from local budgets, and 40% from enterprises, associations, ODA sources and other sources.
The Ministry of Post and Telematics will coordinate with ministries, government agencies, and local authorities to implement this programme.
Source: VET
Wednesday, April 25, 2007
FPT pens deal to provide bank software
FPT Information System (FPT-IS) has won a US$500,000 contract to provide banking software to Banque Pour Le Commerce Exterieur (BCEL).
The deal is the largest supply contract to a foreign financial institute that the FPT-IS has ever signed, and includes rights to Smartbank, E-banking and ATM software for BCEL’s head office and branches.
"The contract represents the rapid development of FPT and the local software industry in the region and world," said FPT-IS deputy director Nguyen Dung Trieu.
FPT-IS is a subsidiary of market leader Corporation for Financing and Promoting Technology, or simply FPT.
According to Trieu, Smartbank will help BCEL, Laos’s biggest commercial bank, quickly and accurately check customer information and execute transactions, while E-banking provides web based services.
Smartbank software has already been deployed in a number of domestic and foreign banks such as the LaoViet Bank, Cambodia Public Bank and VID-Public Bank.
According to the Viet Nam Software Association, FPT-IS is one of the largest providers of system platform integration and other software solutions in the region.
In 2006, FPT reported $517 million in revenue, up 70% over five years ago.
Source: VNS
The deal is the largest supply contract to a foreign financial institute that the FPT-IS has ever signed, and includes rights to Smartbank, E-banking and ATM software for BCEL’s head office and branches.
"The contract represents the rapid development of FPT and the local software industry in the region and world," said FPT-IS deputy director Nguyen Dung Trieu.
FPT-IS is a subsidiary of market leader Corporation for Financing and Promoting Technology, or simply FPT.
According to Trieu, Smartbank will help BCEL, Laos’s biggest commercial bank, quickly and accurately check customer information and execute transactions, while E-banking provides web based services.
Smartbank software has already been deployed in a number of domestic and foreign banks such as the LaoViet Bank, Cambodia Public Bank and VID-Public Bank.
According to the Viet Nam Software Association, FPT-IS is one of the largest providers of system platform integration and other software solutions in the region.
In 2006, FPT reported $517 million in revenue, up 70% over five years ago.
Source: VNS
Thursday, April 19, 2007
FPT wins Cisco award
FPT Information System, a subsidiary of the Corporation for Financing and Promoting Technology, has been named as Cisco’s Enterprise Partner of the Year in Asia (except China and India).
The company was selected as it posted a significant growth rate of 69% year on year, perfect customer satisfaction rating and high service attached rate. Besides, FPT IS was also recognised for technology investment and having collaborative strategic planning with Cisco.
FPT IS’s achievement demonstrates its ability to offer world class systems integration services and is a culmination of years of commitment and investment in training and support, said James Chia, General Director for Cisco Viet Nam at the award presenting ceremony held in Ha Noi on April 18.
Meanwhile, FPT IS General Director Do Cao Bao said that the award is a positive sign of the progress that his company and Viet Nam as a whole is making in the world of information technology.
Source: VNA
The company was selected as it posted a significant growth rate of 69% year on year, perfect customer satisfaction rating and high service attached rate. Besides, FPT IS was also recognised for technology investment and having collaborative strategic planning with Cisco.
FPT IS’s achievement demonstrates its ability to offer world class systems integration services and is a culmination of years of commitment and investment in training and support, said James Chia, General Director for Cisco Viet Nam at the award presenting ceremony held in Ha Noi on April 18.
Meanwhile, FPT IS General Director Do Cao Bao said that the award is a positive sign of the progress that his company and Viet Nam as a whole is making in the world of information technology.
Source: VNA
Saturday, April 14, 2007
IT fund announces new investments
IDG Ventures Viet Nam (IDGVV), the first risk investment fund specialising in Viet Nam's IT industry, has announced its investment into three Vietnamese IT companies.
The new IDGVV-invested companies are Cyworld Viet Nam, Vinapay and the Yeu Am Nhac joint stock company.
The Vietnamese branch of the US based fund management firm, targets opportunities to accelerate the growth and development of Viet Nam's IT industry through its investments into businesses that incorporate creative and diverse technologies.
IDGVV-invested companies are required to have a thorough understanding of the market place that they operate in as well as consumer trends and tastes. They are also required to have products or services that have the potential to maximise high profit to return ratios and are flexible enough to adapt to rapid changes in the market.
IDGVV, which entered Viet Nam in March 2003, has poured 20 million USD into 14 Vietnamese companies to date.
Source: VNA
The new IDGVV-invested companies are Cyworld Viet Nam, Vinapay and the Yeu Am Nhac joint stock company.
The Vietnamese branch of the US based fund management firm, targets opportunities to accelerate the growth and development of Viet Nam's IT industry through its investments into businesses that incorporate creative and diverse technologies.
IDGVV-invested companies are required to have a thorough understanding of the market place that they operate in as well as consumer trends and tastes. They are also required to have products or services that have the potential to maximise high profit to return ratios and are flexible enough to adapt to rapid changes in the market.
IDGVV, which entered Viet Nam in March 2003, has poured 20 million USD into 14 Vietnamese companies to date.
Source: VNA
Thursday, April 12, 2007
FPT wants to establish a bank
The bank and the investment fund management firm would have a chartered capital of VND150 billion (US$9.3 million) and VND36.3 billion ($2.25 million) respectively, the Ho Chi Minh City Securities Trading Center said in a statement.
FPT, whose full name is the Corporation for Financing and Promoting Technology, specialises in software development and outsourcing. It also runs retail chains for mobile handsets and computers.
The company, which has a market capitalisation of nearly $2 billion, has projected profit and sale growth at 40-50% in 2007 and 2008, thanks to new lines of business. They range from telephone services to cable television and education services.
On Wednesday, FPT shares closed up 0.8% at VND525,000 ($32.6) a share, but were still 21% lower than their year-high price of VND665,000.
Source: Thanh Nien
Tuesday, January 23, 2007
FPT raised revenues by 42%
FPT said strong hardware sales including mobile phone handsets boosted its revenues in 2006 by 42.4% from 2005 to 11.69 trillion Dong (724mio US$).
"FPT hopes to continue to sustain its growth and effectiveness in 2007 to meet all its strategic targets."
Source: REUTERS
"FPT hopes to continue to sustain its growth and effectiveness in 2007 to meet all its strategic targets."
Source: REUTERS
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