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National economy recovering, time to do business   2010-03-30 - Tuoi tre

New businesses are springing up since investors think it is the right time as the national economy shows clear signs of recovery. Shipping, real estate consulting, financial planning, specialty and farm produce trading have proven to be the major fields.



In March 2010 alone, hundreds of transport firms were set up in HCM City. Ngo Lang, Director of Thuong Nguyen Company, revealed that even though they just received their business license in mid-March, it has four vehicles running routes from Cat Lai, Khanh Hoi ports to neighboring provinces like Dong Nai and Binh Duong already.


Lang explained that her company has orders to carry goods on the HCM City-Hai Phong route. “More and more orders are coming. We not only carry cargo on the road, but we also do maritime transport as well,” Lang added, noting that big opportunities are opening to shipping firms.


The HCM City business sphere has welcomed many newcomers this year in finance, business administration and investment.


“Real estate consultants have focused on advice for investors, while landlords are now hungry for information,” remarked Nguyen Viet Hung, Director of Viet Nguyen Trade and Services Company.


Having realized this, he decided that his company will provide tips to landowners (information and opportunities to make their fortunes with their assets plus helping them connect with investors).


Hung admitted that the real estate market remains quiet, but claimed that now is the right time to set up businesses, seek information and build up client networks.


HCM City visitors do not know what gifts to buy and even Saigon residents cannot select which gifts to bring on visits to relatives. Since every area in Vietnam has a specialty food, a great idea would be to connect food suppliers and advertise, so that people will know about them and buy their products.


That is the thought of the Tic Tac Trade and Services Company owner.


“We have begun providing the specialty foods of the western region,” he observed. “We have begun selling food on Internet. We also have plans to sell products to tourism companies, Viet Kieu and foreign travelers.”  He stressed that all their products will have clear geographical designations.


Viet Hong Bong Specialty Foods is an expert in Mekong Delta foods and is also trying to expand its business online.  A company official noted that online sales began in late 2009.


HCM City Planning and Investment Department reports that some 4900 enterprises have been established so far in 2010, six percent more over the same period last year.


The new businesses have a bigger operation scale, with total registered capital of over 26,700 billion dong (a 53 percent increase). Thousands of others have expanded their operations, demonstrating that companies consider now the right time to do business.


The majority of newly-established businesses are in the service sector. 70 percent of the most recent 1000 businesses provide services, while manufacturing businesses accounted for less than 16 percent.

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