Articles worth reading
Image : Will Jude Law's Dumbledore be openly gay?

Will Jude Law's Dumbledore be openly gay?

person Orange Themes access_time Apr 13,2017

Will Jude Law's Dumbledore be openly gay? The news that Jude Law is to play Dumbledore as a young man in the sequel to Fantastic Beasts has led to speculation over the direction of the movie and whether his character will be openly gay in the film.

Image : Millions in Philippines on alert for super typhoon

Millions in Philippines on alert for super typhoon

person Orange Themes access_time Oct 19,2016

Millions of people in the Philippines were ordered Wednesday to prepare for one of the strongest typhoons to ever hit the disaster-battered country, with authorities warning of giant storm surges and destructive winds. Super Typhoon Haima was

Image : Sheila Abdus-Salaam, New York State Court Of Appeals Judge, Found Dead On ...

Sheila Abdus-Salaam, New York State Court Of Appeals Judge, Found Dead On ...

person Orange Themes access_time Apr 14,2017

Sheila Abdus-Salaam, New York State Court Of Appeals Judge, Found Dead On ... Medical examiners are still planning to perform an autopsy on 65-year-old Sheila Abdus-Salaam. The New York City police harbour unit retrieved her body from the Hudson on

Latest blog articles

Vinaxuki's demise reflects problems in economy

access_time Mar 18,2017 chat_bubble_outline 27 views
Ninety-six percent of Vietnam’s enterprises are small businesses, with the majority having 10 workers or less. Only 2 percent of enterprises are large in size, while another 2 percent are medium size. 


Vinaxuki's demise reflects problems in economy

Vu Thanh Tu Anh from Fulbright Economics Teaching Program (FETP), speaking at an international workshop on industry development in 2025-2035, emphasized the underdevelopment of supporting industries, saying this is a barrier that hinders the development of Vietnam’s industry.
The car maker Vinaxuki and other enterprises had to close because of the lack of supporting industries. 
In the automobile industry, for example, the localization ratio is surprisingly low, though Vietnam has been developing the sector for the last two decades. Engines make up 40-45 percent of car value, but still cannot be made in Vietnam.
Ninety-six percent of Vietnam’s enterprises are small businesses, with the majority having 10 workers or less. Only 2 percent of enterprises are large in size, while another 2 percent are medium size. 


Vinaxuki is a typical example which shows that having aspirations is not enough to create cars. The goal needs to be empowered with resources, favorable conditions and reasonable policies. It needs an ecosystem of businesses, including manufacturers and supporting industries.
Established in 2004, Vinaxuki was a ‘made-in-Vietnam car dream’. However, the company had to sell workshops and machines to pay huge debts of up to trillions of dong.
A report released in May 2015 by Hanoi inspectors showed that Vinaxuki still owed VND9.8 billion in social and health insurance premiums.
In fact, the government of Vietnam has been aware of the need to develop supporting industries for many years, but no proper solution has been found.
Addressing the issue, Anh said the problem is the lack of medium size enterprises.
“The development of supporting industries needs to be associated with the development of an ecosystem. And one of the important factors of the ecosystem is the existence of medium-size enterprises,” he said.
Anh stressed that medium-sized enterprises play a very important role in the economy. They have resources and capability to connect to bigger enterprises, and they can help small enterprises join supply chains.
“How the 2 percent of medium size enterprises can connect with the 96 percent of small enterprises and the 2 percent of remaining enterprises in the economy is the question that Vietnam’s industry needs to solve,” he said.
In related news, members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold more than 17,600 cars in February, down 13 per cent from the previous month. This is the second month this year that the association has witnessed a drop in sales, although its members continuously reduced prices of their products.


RELATED NEWS

Sale of cars down despite price drop

Domestic car sales ahead of estimate


Thanh Lich

Auckland Nines: Warriors exit tournament without a win

Read on the original site chat_bubble_outline Read More...

Syrian army says has formed volunteer corps to fight militants

BEIRUT (Reuters) - Syria's army said on Tuesday it had formed a new corps made of volunteers to fight alongside its soldiers and allies "to eradicate terrorism"."In response to the rapid developments of events, to support the successes of armed forces and to meet people's wishes to put an end to terrorist acts in the Syrian Arab Republic, the general command of the armed forces announces the formation of a Fifth Stormtrooper Corps of volunteers," an army statement said.(Reporting by Lisa… chat_bubble_outline Read More...

Retailers ready for Boxing Day madness

Read on the original site chat_bubble_outline Read More...

Jordy Nelson took extraordinary measures to play

Read on the original site chat_bubble_outline Read More...

Boosting the completion of socialist-oriented market economy mechanism

The event saw the presence of Politburo member and head of the Party Central Committee’s Economic Commission Nguyen Van Binh, along with nearly 100 delegates who are leading managers, scientists and economists from various ministries and sectors. Dr. Nguyen Quang Thuan, President of the Vietnam Academy of Social Sciences, emphasised blocks that hinder the economic growth of Vietnam in the short term and mid-term including poor infrastructure, an unstable macroeconomy, weak State-owned… chat_bubble_outline Read More...

folder_open Assigned tags

Comments

Loading...