Tag: investor

Tourism Labor Shortage in Vietnam

Tourism Labor Shortage in Vietnam

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As more foreign tourists keep arriving in Vietnam, some questions about the future of the nation’s tourism industry are being raised as a tourism labor shortage has been realized, according to a news article by VnExpress.

To put things in perspective, posted below is an excerpt from the news article of VnExpress. Some parts in boldface…

Vietnam’s tourism industry is racing ahead, with international arrivals hitting new highs, but the sector is facing a growing shortage of skilled workers, from hotel staff and chefs to foreign-language guides and senior managers.

The third most visited country in Southeast Asia after Malaysia and Thailand welcomed nearly 16 million international visitors in the first eight months of 2026, up 14.4% year-on-year, driving up demand across hotels, travel companies, transport, restaurants and tourist attractions.

A 2026 survey by Hoteljob.vn found that nearly 90% of tourism businesses planned to recruit.

In Ho Chi Minh City alone, 89.7% of businesses were hiring, while 71.8% said recruitment was difficult or very difficult. The biggest shortages were among frontline workers, particularly in housekeeping, engineering, food service, front-office operations, and kitchens.

The Politburo’s Resolution dated Aug. 22, along with the government’s action programme adopted on Sept. 7, set the target for tourism to directly contribute 10-12% of GDP by 2030, attracting 45-50 million international visitors and generate total revenue of US$80-90 billion.

Hanoi, Ho Chi Minh City, and Da Nang are envisioned as major tourism growth hubs, while Phu Quoc emerges as a new hub. These targets will place greater demands on the tourism workforce, not only in terms of numbers but also skills, from frontline workers and foreign-language guides to managers, technology specialists and professionals delivering high-end services.

Ho Chi Minh City’s tourism sector, for example, is facing gaps in supervisory and management positions, as businesses seek staff capable of operating in an increasingly digitalized, international and competitive environment.

Foreign-language tour guides are another weak link. Demand is rising rapidly from markets such as Russia and India, while arrivals from Europe and the Middle East are also increasing. Yet training guides with the language skills and cultural knowledge needed to serve these markets can take years.

The labor crunch is even more acute in destinations far from major urban centers.

In Con Dao, hotels and resorts regularly struggle to recruit receptionists, housekeepers, chefs, and service staff, while travel companies face shortages of sales, marketing, and tour guide staff.

Higher salaries have done little to solve the problem. The island’s high cost of living and distance from the mainland make it difficult to attract and retain skilled workers, with many leaving after only a few months.

According to Hoteljob.vn, 79.5% of tourism businesses have raised salaries or improved benefits over the past year. Yet 59.2% cited lower incomes compared with other industries as a key reason young people leave the profession, while limited career prospects were another major factor.

Experts say Vietnam’s tourism labor shortage is not simply about training more people.

The bigger challenge is narrowing the gap between what schools teach and what employers need. Nearly 80% of businesses surveyed said fewer than 20% of young applicants could start work immediately, while more than 84% said new recruits needed at least a month before they could work independently.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam should open its doors and bring in trained tourism workers from overseas to solve their tourism labor shortage?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

Thailand Eyes Over $600 Million in Additional Tourism Spending Through Domestic Stimulus

Thailand Eyes Over $600 Million in Additional Tourism Spending Through Domestic Stimulus

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As the government of Thailand plans to spend money to support hotel stays and tourism-related expenses, the nation is targeting more than $600 million in additional tourism spending, according to a news article by VnExpress.

To put things in perspective, posted below is an excerpt from the news article of VnExpress. Some parts in boldface…

Thailand is targeting more than 20 billion baht (US$601 million) in additional tourism spending through a domestic travel stimulus.

The government plans to spend about 4 billion baht to subsidize hotel stays and other tourism expenses, Tourism and Sports Minister Surasak Phancharoenworakul said as cited by Bloomberg.

The package, covering one million entitlements, is expected to be submitted to the Cabinet on Sept. 22, Bangkok Post reported.

The measure reflects Thailand’s growing reliance on domestic travelers to support tourism, a major source of jobs and foreign exchange for Thailand.

Thailand received 21.7 million foreign tourists through Sept. 12, down 3.4% from a year earlier. Their spending fell 1.9% to 1.06 trillion baht.

Domestic travel has performed better, with trips by Thais rising 2% to 142 million and spending increasing 1.9% to 824.6 billion baht.

Under the plan, the government will subsidize accommodation by up to 2,000 baht per entitlement. Travelers will also receive co-payment vouchers worth up to 2,000 baht for restaurants, spas, shops and tourism activities, with higher benefits available in secondary destinations. Each person can use up to five entitlements.

The subsidies are scheduled to run from Nov. 1 to Dec. 15, pause during the peak New Year period, and resume on Jan. 16, 2027, through the end of February.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think this development will improve Thailand’s tourism appeal? Do you think the government should be more involved with the tourism industry?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

Russian Arrivals to Vietnam to Hit Record High This Year

Russian Arrivals to Vietnam to Hit Record High This Year

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If the current pace continues, the number of Russians arriving in Vietnam this year will result in a record-high, according to a news article by VnExpress. To be clear, Russia is already a very fast-growing market of tourists for Vietnam which has a booming tourism industry.

To put things in perspective, posted below is an excerpt from the news article of VnExpress. Some parts in boldface…

The number of Russian visitors to Vietnam is forecast to reach a historic record of 1.5 million this year, a senior official has said.

Russian news website news.ru quoted Nikita Kondratiev, Director of the Department for Multilateral Economic Cooperation and Special Projects under Russia’s Ministry of Economic Development, as saying that even during the pre-pandemic peak in 2018-2019, Russian arrivals to Vietnam stood at only around 700,000-800,000.

The figures show impressive growth in the tourism sector, he noted.

According to the official, key factors behind Vietnam’s growing appeal include the maintenance and expansion of direct air routes, as well as convenient payment options for Russian tourists through QR codes and MIR bank cards at some locations in Vietnam.

The strong interest from the Russian market is fully reflected in recently released statistics.

On Sept. 4, Travel Russian News cited figures from the Vietnam National Authority of Tourism showing that Russian arrivals to Vietnam surpassed 1 million in the first eight months of 2026, representing a 165.7% increase year-on-year. This was the highest growth rate among Vietnam’s major international tourist markets.

With this result, Russia jumped from around seventh place in 2025 to become Vietnam’s third largest source market, behind China with 3.54 million visitors and South Korea 2.76 million.

Let me end this piece by asking you readers: What is your reaction to this development? Apart from what was reported, what do you think makes Vietnam such a very attractive place for Russians? Do you think other Southeast Asian nations are discreetly making plans of their own to attract Russian tourists away from Vietnam?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

Russia and the Philippines Emerge as Fast-Growing Tourist Markets for Vietnam

Russia and the Philippines Emerge as Fast-Growing Tourist Markets for Vietnam

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As Vietnam successfully attracted almost sixteen million foreign tourists during the first eight months of this year, Russia and the Philippines have emerged as the fast-growing tourist markets at 166% and 58% respectively, according to a VnExpress news report.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Tourist arrivals from Russia and the Philippines surged 166% and 58%, respectively, in the first eight months, as Vietnam recorded nearly 16 million international visitors, up more than 14% year-on-year.

The rise in Russian tourists has made Russia the largest European market and the third largest source of international arrivals to Vietnam this year, with around 1 million visitors, only after mainland China (3.5 million) and South Korea (2.8 million).

Nguyen Tien Dat, CEO of AZA Travel, said: “Russian tourists enjoy swimming, sunbathing, eating seafood, and relaxing at resorts. Vietnam fully meets these needs, so it is understandable why they are visiting in large numbers,” Dat says.

Kristina Zagumennaya, director of a Russian travel agency, told the Russian news agency Sputnik in early August that Russian tourist flows are shifting between markets. While Turkey remains the top choice, Vietnam and China have recorded outstanding growth.

“Vietnam stands out as a popular choice this tourist season,” Zagumennaya said, noting that multiple charter flights are operating to destinations across the country to meet demand for both beach holidays and cultural tourism.

In addition to charter flights, Vietnam Airlines increased the frequency of its direct Hanoi-Moscow route from three to four flights per week starting in July.

Ranking behind Russia, the Philippines also showed notable growth, despite not being a prominent source market for Vietnamese tourism prior to 2025.

Filipino visitors have risen to nearly 470,000 this year, among the 10 largest group of foreign visitors to Vietnam.

Bui Thanh Tu, marketing director of BestPrice Travel, attributes this rise to more convenient flight routes, especially from Manila and Cebu, competitive costs, and tourism products that differ from the island destinations familiar to Filipinos.

He also cites the viral impact of TikTok and YouTube videos featuring Hanoi, Sa Pa, Da Nang, and Hoi An.

Let me end this piece by asking you readers: What is your reaction to this development? Do you find it surprising that Russia and the Philippines became the fastest growing tourist markets for Vietnam? Do you think it is only a matter of time before Vietnam could someday attract at least 30 million foreign tourists per year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

Vietnam Attracts Almost 16 Million Foreign Tourists in First 8 Months of 2026

Vietnam Attracts Almost 16 Million Foreign Tourists in First 8 Months of 2026

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The tourism boom in Vietnam continued strongly as the nation successfully attracted almost sixteen million foreign tourists during the first eight months of 2026, according to a news report by VnExpress.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Vietnam welcomed nearly 2 million international visitors in August, up 19.7% from July and 18.4% year-on-year, according to the Vietnam National Authority of Tourism.

In the first eight months of this year, the country received nearly 16 million foreign visitors, an increase of 14.4% from the same period in 2025 and equivalent to 63.6% of the full-year target.

The August figure is notable as the month is usually considered part of the low season for international tourism.

The result shows that the country’s tourism market continued to maintain and expand its appeal. Air travel remained the main mode of entry, accounting for 83% of international arrivals, while arrivals by road continued to increase, particularly from neighboring countries.

By region, Asia was still Vietnam’s largest source market, with about 11.8 million visitors in the eight-month period, making up nearly 74% of the total and increasing 7.4% year-on-year.

Europe recorded the strongest growth among major regions, at 53.4%, with about 2.68 million visitors.

Arrivals from the Americas reached around 887,000, up 20.7%, while those from Oceania rose 23.3% to nearly 489,000. Africa sent about 45,000 visitors to Vietnam, up 25.1%.

The tourism authority said the figures show that Vietnam is expanding its reach beyond nearby Asian markets, with strong growth from long-haul markets, helping diversify the visitor base and reduce dependence on individual markets.

By country, China remained Vietnam’s largest source market, with 3.54 million visitors, accounting for about 22.3% of the total. South Korea ranked second with approximately 2.76 million visitors, or 17.3%. Together, the two markets provided more than 6.3 million visitors, nearly 40% of the country’s total.

Russia ranked third with more than 1 million visitors, representing a year-on-year increase of about 165.7%, the highest growth among major source markets.

Other key markets also posted strong growth. Visitors from the U.S. increased 20.4%, Cambodia 41.5%, Japan 9.2%, the Philippines 58.8% and Australia 23.3%.

European markets continued to perform well, with arrivals from the U.K. rising 9.8%, France 13.4%, Germany 15.1%, Sweden 25.1%, Switzerland 27%, Poland 51.2% and the Czech Republic 28.2%. In Southeast Asia, tourists from Malaysia grew 20.5%, Singapore 31.7%, and Indonesia 26.7%.

India was another fast-growing market. The number of Indian visitors rose from just 102,000 in 2019 to more than 612,000 in the first eight months of 2026.

The expansion of direct air services between major Indian cities and Hanoi, Ho Chi Minh City, and Da Nang has helped make Vietnam more accessible to Indian travelers.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam can attract at least 25 million foreign tourists by the end of this year? If you plan to visit Vietnam soon, what are your three main reasons for visiting?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

Thailand’s 2026 Tourism Revenue Reaches $29.8 Billion as of August 22

Thailand’s 2026 Tourism Revenue Reaches $29.8 Billion as of August 22

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Thailand, one of the leaders of tourism in Southeast Asia, saw its 2026 tourism revenue reach almost $30 billion as of August 22 and it has also attracted over twenty million foreign tourists along the way, according to a report by VnExpress.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Thailand, Southeast Asia’s second-most visited country after Malaysia, recorded tourism revenue of 984.32 billion baht (US$29.8 billion) between Jan. 1 and Aug. 22, down 2.9% year-on-year, amid a slowdown in tourist arrivals.

The top five sources of tourists contributing to this revenue were China, Malaysia, India, Russia, and South Korea, Nation Thailand reported.

The tourism-dependent country welcomed 20.32 million international visitors during the period, down 2.96% from the same period last year.

Once a tourism powerhouse in Southeast Asia, Thailand has faced a slowdown in foreign arrivals since last year amid growing concerns over kidnapping and visitor safety.

Safety concerns have intensified following the deaths of two Russian tourists and three members of a Thai family in Chon Buri Province earlier this month, Bangkok Post reported.

The recent kidnapping of a Chinese tourist, who managed to escape before being taken across the border into Myanmar, has renewed concerns over the safety of foreign visitors.

The Thai government has cut its forecast for Chinese arrivals in 2026 from 9 million to 7 million.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Thailand’s tourism can somehow attract more foreign tourists and at least match their 2025 numbers? Do you consider Thailand a very safe place for foreigners? If you have visited Thailand before, did you get good value in return on your spending there?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Tourism Industry of Vietnam Shifts Focus From Visitor Numbers to Spending

Tourism Industry of Vietnam Shifts Focus From Visitor Numbers to Spending

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As it enjoys the many benefits of the ongoing tourism boom, Vietnam now has the opportunity to truly build itself up economically by means of long-term investments and creating new jobs. That said, the tourism industry of the nation has shifted focus from attracting visitors to higher spending, longer stays and other economic opportunities, according to a news report by VnExpress.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Vietnam is shifting tourism growth from attracting more visitors to generating greater value from each trip, with a focus on higher spending, longer stays, green development, technology application and cultural experiences.

The country aims to welcome 45-50 million international visitors and 160 million domestic tourists by 2030, Do Cam Tho, head of the Planning and Finance Division at the Vietnam National Authority of Tourism (VNAT) under the Ministry of Culture, Sports and Tourism, said at HORECFEX Vietnam 2026, a major hospitality and tourism forum.

She said 2026-27 would be a pivotal period in shifting tourism development from expansion in scale to deeper value creation.

Vietnam welcomed 21.2 million international visitors and 137 million domestic tourists in 2025, with total tourism revenue estimated at around VND1 quadrillion ($38.1 billion).

In the first seven months of 2026, the country received nearly 13.92 million foreign tourists, up 13.8% year on year, while domestic visitors numbered about 98 million, with tourism revenue of 675 trillion VND.

International visitors currently spend an average of US$1,200-1,400 per trip in Vietnam, while domestic tourists about 2.4-2.6 million VND (US$92-99).

About 70% of foreign visitors come from China, the Republic of Korea, Japan and Taiwan (China), while markets with higher spending power, including the Middle East, Northern Europe, North America and Australia, still account for relatively small shares.

Tourism is receiving greater attention as Vietnam seeks to achieve rapid national development and make tourism a spearhead economic sector, Tho was quoted by Tuoi Tre (Youth) newspaper as saying.

Under the proposed approach, Vietnam targets total tourism revenue of $80-90 billion by 2030. The country is expected to have about 1.5 million accommodation rooms and tourism is projected to create around 5.8 million direct and indirect jobs.

Among three development scenarios for 2030, the most ambitious targets annual international visitor growth of 15-18%. Achieving it will require institutional reforms, development of the night-time economy, diversification of high-end markets and measures to increase visitor spending.

VNAT said Vietnam will continue to consolidate Northeast Asian and ASEAN markets while expanding into Europe, North America, Australia and other markets with high spending capacity and longer stays.

India, the Gulf Cooperation Council (GCC) countries, Russia and Muslim markets have been identified as areas with significant growth potential.

For domestic tourism, the focus will shift from boosting visitor numbers to encouraging higher spending, with an emphasis on two- to three-day weekend getaways, high-end Meetings, Incentives, Conferences and Exhibitions (MICE) tourism, family vacations and night-time tourism.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam’s tourism industry players are fully prepared to make the most of the economic benefits that come with surging foreign and domestic tourism? Do you think new investments related with the tourism boom will be made soon in Vietnam? How many millions of new jobs do you think will be created in Vietnam as a result of the tourism boom?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

US Embassy Delegation Meets With SBMA For Luzon Economic Corridor

US Embassy Delegation Meets With SBMA For Luzon Economic Corridor

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The Subic Bay Metropolitan Authority (SBMA) announced the United States Ambassador to the Philippines Heather Variava and her delegation composed of many representatives of the U.S. economic team recently visited the Subic Bay Freeport Zone and met with Chairman and Administrator Eduardo Jose L. Aliño for high-level discussions about the Luzon Economic Corridor (LEC).

To put things in perspective, posted below is an excerpt from the SBMA’s official announcement. Some parts in boldface…

The United States Embassy delegation for the Luzon Economic Corridor Steering Committee visited this premier Freeport on May 13, 2026, seeking to create more investment opportunities.

US Ambassador Heather Variava, Senior Advisor for Economic, Energy, and Business Affairs, and Head of Delegation for the committee, together with several representatives of the US economic team, arrived here as part of the mission to work on US-Philippines growth through a series of coordination with government officials and business leaders.

The ambassador met with officials of the Subic Bay Metropolitan Authority (SBMA), led by Chairman and Administrator Eduardo Jose L. Aliño, to discuss economic growth efforts for the Luzon Economic Corridor (LEC).

The LEC is a multi-billion-dollar economic partnership designed to supercharge infrastructure, logistics, and supply-chain connectivity between four primary hubs in the Philippines: Subic Bay, Clark, Manila, and Batangas.

Chairman Aliño said that the trilateral initiative with the US, Japan, and the Philippines has now expanded to include Australia, Denmark, France, Italy, South Korea, Sweden, and the United Kingdom.

“This ambitious venture will strengthen infrastructure, supply chains, and green energy across Subic, Clark, Manila, and Batangas. It is most timely that Her Excellency Heather Variava and her delegation visit us now, as the Luzon Economic Corridor gains momentum through international partnerships and expanded economic engagement,” he added.

The SBMA top official said that with upcoming projects in railway connectivity, port modernization, clean energy, and semiconductor supply chains, “Subic Bay’s role as a premier logistics and manufacturing hub grows even stronger.”

Initially launched in April 2024 as a trilateral project between the Philippines, the United States, and Japan under the G7’s Partnership for Global Infrastructure and Investment (PGI), the initiative has rapidly scaled into a powerful 10-nation coalition.

The said visit is part of her travel to coordinate strategic infrastructure and investments alongside the Philippine government and business leaders, as the ambassador advocates for streamlining complex regulations to increase investor confidence.

In the official press release issued by U.S. Embassy in the Philippines, the Luzon Economic Corridor’s partners share a commitment to a free and open Indo-Pacific and pledge to promote fair and transparent economic development. The partners will contribute through technical assistance, financing, and facilitation of private sector investments, while actively participating in working groups focused on transport, energy, and digital infrastructure.

“The expansion of the Luzon Economic Corridor partnership shows what we can accomplish when likeminded nations unite around strategic infrastructure and shared prosperity. This initiative is creating real opportunities for U.S. business, our Philippine partners, and investors across the Indo-Pacific while countering exploitative infrastructure practices with a better alternative,” said U.S. Senior Advisor for Economic, Energy, and Business Affairs Ambassador Heather Variava.

The official Luzon Economic Corridor map released by the U.S. Embassy.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you consider the US Embassy delegation’s Subic Bay visit a strong move to convince foreign investors to be part of the Luzon Economic Corridor? Do you expect to see more economic cooperation and meetings between America and the Philippines over the next twelve months?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Vietnam-based Thien Long to invest almost $3 million in the Philippines

Vietnam-based Thien Long to invest almost $3 million in the Philippines

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Recently the Vietnam-based office supplies company Thien Long announced that it will be investing almost $3 million in the Philippines as it is expanding in the Southeast Asian region, according to a news report by VnExpress.

To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…

Vietnamese office supplies company Thien Long plans to invest US$2.8 million in the Philippines as part of efforts to expand in Southeast Asia.

It will establish the Flex Office Philippines brand to distribute stationary products imported from Vietnam, according to a recent announcement.

In an interview with VnExpress in April, the company’s chairman, Co Gia Tho, had outlined plans to gain a bigger share of the Southeast Asian stationary market.

In recent years the pen and stationery market in the region has been shrinking, with businesses shifting to more profitable industries, offering Thien Long the chance to expand overseas, he said.

Exports currently account for 20% of the company’s sales, and have been growing in double digits over the last decade, reaching VND1 trillion ($38 million) for the first time in 2024.

The management aims to increase this share in the coming years through a “glocalization” strategy, leveraging domestic strengths and adapting them for international markets.

In May, through a subsidiary, it acquired Phuong Nam Cultural Corporation, which operates a chain of nearly 50 bookstores.

The management said the purchase is a strategic step to develop new product categories, particularly toys and lifestyle consumer goods, on which the company has been focusing in recent years.

Let me end this post by asking you readers: What is your reaction to this recent development? Have you ever heard of Thien Long before? Do you think the Vietnam-based office supplies company will succeed with its $2.8 million investment in the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Seeking US Tariff Exemptions For Agricultural Commodities, Electronics and More

Philippines Seeking US Tariff Exemptions For Agricultural Commodities, Electronics and More

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Remember the big meeting between United States President Donald Trump and Philippine President Ferdinand “Bongbong” Marcos, Jr., over a month ago? A 19% tariff by America on Philippine goods was set and now the government of the Philippines is seeking exemptions specifically for exports of agricultural commodities, electronics, vehicle tires, bags and aircraft parts, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

THE PHILIPPINES is asking the US to exempt exports of agricultural products and other goods from the 19% tariff imposed by US President Donald J. Trump, a Trade official said on Thursday.

Trade Undersecretary Allan B. Gepty said the government is seeking US tariff exemptions for exports of agricultural commodities, electronics, vehicle tires, bags and aircraft parts.

“We submitted a list of products we asked the US to exempt from the imposed tariff rates, because these are key and complementary items. And some of them, in fact, are not even produced or manufactured there (in the US),” he told senators at a Senate briefing on the tariff set by Washington on Philippine exports.

“The immediate need right now is we want to negotiate for an exemption, because we want to protect our industries whose main export market is the US,” he added.

The US began imposing a 19% tariff on Philippine goods starting Aug. 7.

“We already submitted to the US the products that should be exempted from the reciprocal tariffs,” he said.

Mr. Gepty said about 23% of the country’s total exports to the US are exempted from the 19% tariff.

In June, the United States was the top destination for Philippine-made goods amounting to $1.22 billion, 35.2% higher from the same month a year ago. Around 53% of the Philippines’ total exports to the US were semiconductors and electronics, Mr. Gepty said.

The US has yet to set new global tariffs for semiconductors and pharmaceuticals. Mr. Trump had earlier said he plans to announce higher tariffs on imports of semiconductors, but companies that plan to build manufacturing facilities in the US would be exempted.

“Ninety-nine percent of our semiconductors as of now are still exempted, there’s still no problem” he said. “If the 100% continues, that’s a big problem,” he added.

Mr. Gepty said most of the semiconductors are made by US companies in the Philippines and exported to the US. He noted the higher tariffs would pose problems for the US supply chain, particularly for its defense industry.

Meanwhile, the Philippines has not formally granted zero tariffs on US products, as negotiations over a reciprocal trade agreement remain ongoing, he said.

Let me end this post by asking you readers: What is your reaction to the recent developments? Do you think the Philippines will succeed in getting an exemption from the Trump tariff on key exports?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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