Skip to main content

Posts

Showing posts with the label Vietnam

Spire and YCG hold seminar on partnering Vietnamese firms

O n 15 March, Spire and Yamada Consulting Group (YCG) jointly organized a breakfast seminar in Singapore for Japanese speakers, to share insights on Mergers & Acquisition (M&A) deals in Vietnam and investment trends for market entry. An English language seminar on the same theme was held the next day. The speakers were Leon Perera, Chief Executive Officer of Spire Research and Consulting, Eiji Asano, incoming Director for YCG Vietnam and Hafidz Omar, Senior Manager at Spire Research and Consulting. The speakers discussed the impact of growing Foreign Direct Investment (FDI) as well as the keen interest in Mergers & Acquisitions (M&A) in Vietnam. Vietnam’s economy racked up a USD15 billion positive trade balance from 2015 with manufacturing, metals and textiles as the top export industries. Most of Vietnam’s FDI came from Asian countries like the Republic of Korea, China and Singapore. The speakers discussed pull factors for investors, like competitive

The race to invest in Vietnam – How FDI is changing Vietnam’s economy and society

Vietnam’s economy has been among the fastest growing in Southeast Asia. Today, it is a key destination for Foreign Direct Investment (FDI) in the region. In 2016, FDI climbed to USD24.4 billion, a 9 per cent growth compared to 2015. This is despite Vietnam suffering an epic drought in 2016 and a third of its vast population of 93 million people living in poverty. Vietnam has won a reputation as a cheaper manufacturing hub compared to China. Could FDI propel Vietnam to become Asia’s next Tiger economy? A growing economy With a USD200 billion Gross Domestic Product (GDP), Vietnam’s economy is tracking well since the start of deep economic reforms – known as Doi Moi – in 1986. Since 1990, its GDP per capita growth has been one of the fastest among emerging economies, at an average 6.4 per cent (yearly) growth in the 2000s. Vietnam has improved provision of basic services. In 2014, the part of the population living below poverty line fell to 13.5 per cent – down from approxim

Vietnam automobile lubricant market beckons

With automotive lubricant demand rising from 2.6 million liters (in 2015) to 4.1 million liters (in 2021), global and regional manufacturers are taking notice of the Vietnam market. How can brands win in this market? Leon Perera, Chief Executive Officer of Spire Research and Consulting, shared his insights on key trends in the Lube Report Asia magazine. With many players competing in the Southeast Asia market for motorcycle lubricants, leaders will be determined by their success in the large and fast-rising markets of Indonesia and Vietnam. These two countries account for over 80% of the region’s total motorcycle population. A few brands that stand out are Petronas, Shell, BP Castrol and Pertamina. Leon commented that while Vietnam’s short-term growth is driven by motorcycle lubricants, long-term growth is expected to come from car lubricants as middle-class Vietnamese trade up to cars. Vietnam’s attractive lucrative market is dominated by mineral engine oil due to pr

Vietnam hungry for more Voice-activated apps

Voice-activated applications continue to gain popularity in Vietnam as the younger generation becomes more tech-savvy due to increased smartphone usage. How will such applications grow? Spire Research and Consulting shared its insights, published on the US Consumer Electronics Association’s blog. Mobile phones are continually being revolutionized by new features and technologies – witness hands free features and navigation tools. The latest is speech recognition apps. Apple first explored this feature by introducing Siri – a voice-activated assistant – as a built-in feature in iPhone 4S mobile devices in 2011. Smartphone usage in Vietnam rose from 20% in 2013 to 36% in 2014, which, together with its population of 90 million, has helped place Vietnam on the global map for new mobile app launches. The growing popularity of Voice-activated apps in Vietnam is visible from a survey conducted in 2014 among 1,168 respondents, where 46% used voice-activated apps as a virtual assi

Mobile banking poised to take off in Vietnam’s rural areas

Vietnam’s rural population is still struggling with access to basic financial services. With the high mobile penetration rate, can mobile phones be a platform to address their needs? Yap Far Loon, Business Development Director, Telecommunications at Spire Research and Consulting, shared his insights on the untapped potential for mobile financial services to serve Vietnam’s rural population in The Saigon Times Daily. According to a Spire report, an astounding 60 million people in Vietnam do not have access to basic financial services. Only 22% of the population – predominantly those residing in urban areas – have access to financial services. Why are the rural areas being left out? Yap opined that high costs are the main reason. For instance, the cost of installation, maintenance, operation and location rental for Automated Teller Machines (ATMs) alone exceeds VND300 million annually. Moreover, as rural transaction volumes are low, economies of scale are limited, making it even