Although not being out of the woods yet in terms of economic hardships,numerous businesses in Ho Chi Minh City have presented ambitiousexpansion plans, according to the Vietnam Investment Review.
Directorof Minh Tien Company Limited Nguyen Tri Kien said they plan to doubleproduction space to meet burgeoning customer demands.
MinhTien produces bags and suitcases under the Miti brand and operates fiveproduction lines currently and boasts a workforce of 500 skilledworkers and employees as well as an expansive distribution system with200 agents and 50 outlets throughout Vietnam.
Kien saidChinese-made suitcases hold a 90 percent market share in the north and60-70 percent in the south but often have problems with wheels, handlesor zippers.
“Our company does not have these problems and we offer customers a five-year guarantee on our suitcases,” said Kien.
Aswell as doubling their production area and procuring state-of-the-artequipment, the company has a production goal of 500,000 units, up 80percent against 2013.
According to CEO of Thien Nam ElevatorJoint Stock Company Tran Tho Huy, the company managed stable productionlast year with 328 billion VND (15.6 million USD) in revenue, on parwith the yearly projection.
More importantly, it developed a strategy to more effectively tap the Japanese market.
“Inearly February our company shipped off the year’s first batch ofelevators to Japan, valued at 230,000 USD. This promises a more positivebusiness performance compared to 2013,” said Huy.
Thien Nam’snew factory kicked off construction in October 2013 in southern Long Anprovince and is expected to open (first phase) in April this year.
Thecompany, which was honoured as a national brand and named a leadingelevator supplier in the country, has set out to surpass 10 percentgrowth this year.
Deputy Chairman of the Ho Chi Minh CityBusiness Association Pham Ngoc Hung said difficulties in 2013 resultedin many firms going bankrupt, leaving the market open to other players.
Healthy firms have the opportunity to fill this void in 2014.
Oneexample is Nam Thai Son Plastic Packaging Joint Stock Company in Ho ChiMinh City’s District 2, which succeeded in seizing 70 percent marketshare for biodegradable plastic bags after scores of companiessurrendered once environmental fees were imposed on plastic bags.
Allof these firms responded similarly that fairly stable exchange andlending rates played a major role in their decisions to expand.-VNA
Directorof Minh Tien Company Limited Nguyen Tri Kien said they plan to doubleproduction space to meet burgeoning customer demands.
MinhTien produces bags and suitcases under the Miti brand and operates fiveproduction lines currently and boasts a workforce of 500 skilledworkers and employees as well as an expansive distribution system with200 agents and 50 outlets throughout Vietnam.
Kien saidChinese-made suitcases hold a 90 percent market share in the north and60-70 percent in the south but often have problems with wheels, handlesor zippers.
“Our company does not have these problems and we offer customers a five-year guarantee on our suitcases,” said Kien.
Aswell as doubling their production area and procuring state-of-the-artequipment, the company has a production goal of 500,000 units, up 80percent against 2013.
According to CEO of Thien Nam ElevatorJoint Stock Company Tran Tho Huy, the company managed stable productionlast year with 328 billion VND (15.6 million USD) in revenue, on parwith the yearly projection.
More importantly, it developed a strategy to more effectively tap the Japanese market.
“Inearly February our company shipped off the year’s first batch ofelevators to Japan, valued at 230,000 USD. This promises a more positivebusiness performance compared to 2013,” said Huy.
Thien Nam’snew factory kicked off construction in October 2013 in southern Long Anprovince and is expected to open (first phase) in April this year.
Thecompany, which was honoured as a national brand and named a leadingelevator supplier in the country, has set out to surpass 10 percentgrowth this year.
Deputy Chairman of the Ho Chi Minh CityBusiness Association Pham Ngoc Hung said difficulties in 2013 resultedin many firms going bankrupt, leaving the market open to other players.
Healthy firms have the opportunity to fill this void in 2014.
Oneexample is Nam Thai Son Plastic Packaging Joint Stock Company in Ho ChiMinh City’s District 2, which succeeded in seizing 70 percent marketshare for biodegradable plastic bags after scores of companiessurrendered once environmental fees were imposed on plastic bags.
Allof these firms responded similarly that fairly stable exchange andlending rates played a major role in their decisions to expand.-VNA
