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Vietnam ICT Sector Briefing

BBGV is pleased to bring you our latest sector briefing on ICT in Vietnam. The briefing provides an overview on Information Technology and Telecommunication. The findings are further analysed for each IT and Telco’s products and are sum up in two SWOT analyses.


Full briefing can be viewed here

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The Queen’s 91st Birthday Party - Sapphire Jubilee

 

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British Ambassador to Vietnam Giles Lever giving welcome speech

 

The BBGV staff had the honour to join The Queen’s 91st Birthday Party – Sapphire Jubilee on Tuesday, 06th of June 2017, along with representatives from Her Majesty's Armed Forces, British Embassy Vietnam, other diplomatic missions in Vietnam and the community of honorary enterprises.

 

The ceremony began by a moment of silence to commemorate the victims of the incidents happened in Manchester and London, and followed by the national anthems of The UK and Vietnam. The attendants then welcomed with the speech from the British Ambassador to Vietnam Giles Lever, the British Consul General Ian Gibbons and HCMC Deputy Chairman Le Thanh Liem, highlighting fruitful achievements in economic and other social aspects from the friendship between UK and Vietnam governments.

 

Also mentioned in these speeches the Incubator Unit concept which The BBGV Business Centre is on the way to put into practise. Our aim is that British and Vietnamese companies can trade together in an accessible and equitable manner… The BBGV Incubator would provide flexi-desk arrangements, meeting rooms and facilities for UK businesses as an additional service for those companies requiring physical office support and services.

 

Clients of the Incubator would benefit from the professional support of the BBGV Business Centre team and network in order to facilitate their business goals in Vietnam. BBGV would assist in connecting to the right individuals and organisations and form partnerships with the Vietnamese business and governmental sectors.

 

The structure - which would require a business visa to be issued – would allow UK companies a quick and cost-effective set up and licensing path in order to identify and meet key business contacts, and deliver business success.

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A brief on Healthcare sector of Vietnam

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Vietnam’s health system is a mixed public-private system, in which the public system plays the key role, especially in policy, prevention, research and training. In 2015, Vietnam had approximately 1,316 hospitals with 2.89 beds per 1,000 populations. The private healthcare sector has grown steadily and the number of private hospitals has grown dramatically in recent years, representing 13.2% of hospitals and 4% beds nationwide. This number highlights opportunities for investors to enter the healthcare market.

 

Healthcare expenditure in Vietnam reached a value of USD13.9bn in 2015 and increased to USD14.9bn in 2016, marking a year-over-year growth of 9.6% in local currency terms. By 2025, healthcare expenditure is expected to reach USD33.7bn, more than doubling over the decade. A large and expanding population, rising incomes and improved access to healthcare services will act as key drivers of healthcare sector growth over the forecast period.

 

In addition to State funding, Overseas Development Assistance (ODA) and private sector funding, PPP is increasingly seen as a potentially important mechanism for Vietnam to improve its growing healthcare system.

 

The medical device market in Vietnam is considered as one of the Asia's fastest growing medical device markets, with a 2015-2020 CAGR of 9.0%. It ranked as the ninth largest market in the APAC region, valued at USD781.8mn in 2015. Most modern health equipment in hospitals is imported as the quality of domestic health equipment in Vietnam has yet to meet the national and international standards. Local production accounts for only 5% of the market. Domestic production is limited to basic items such as consumables. Some multinationals (B Braun, United Healthcare, Mediplast, etc...) have set up plants, attracted by low manufacturing and labour costs.

 

Only local companies can distribute medical devices in Vietnam, foreign companies must therefore sell their products through appointed local distributors and agents. VINAMED (Vietnam Medical Equipment Corporation) is one of the country's leading distributors. Vietnamese buyers, especially in the public sector, generally expect to deal with a local distributor to handle all aspects of distribution, from delivery to after sales service and provision of spare parts.

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Free UK- Import Inquiries Service for Vietnamese Companies

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The Business Centre provides a free service to Vietnamese companies, in the form of first-line confidential inquiries issue on the UK government’s portal: https://opportunities.export.great.gov.uk/.

Import & partnership demand from Vietnamese companies are raised on this portal. The portal targets UK businesses who are keen on exporting to specific countries including Vietnam. Business Centre then connects interested UK businesses to the respected Vietnamese companies.

For the past three months, we have posted 25 inquiries and connected around 18 Vietnamese companies with around 80 UK prospects.

 

Details of inquiry service:

Step 1: Vietnamese companies can submit inquiries to the BBGV Business Centre via phone, email or in person, following the template .
Step 2: BBGV Business Center will upload the inquiries onto the portal within 3 working days
Step 3: Additional quality control measurement will be applied and managed by the UK government (maximum 10 working days)
Step 4: UK companies start bidding within the deadlines. BBGV will assess the capability of interested UK companies and connect the suitable ones to the Vietnamese side.

The service is expected to deliver excellence connection between Vietnamese companies and potential UK exporters, enabling Vietnamese companies to broaden their product portfolios and seek sustainable operational solutions in order to improve their competitive advantages and satisfy customers.

For more information, please visit our website: https://opportunities.export.great.gov.uk/

 

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UK Export Finance (UKEF) Chief Executive Officer visits Vietnam

Chief Executive Officer of UKEF Louis Taylor, during his three-day visit to Vietnam, brought goodwill to foster infrastructure development with a credit financial support package of up to 1.5 billion GBP.

 

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 Louis Taylor together with HCMC Deputy Chairman Le Thanh Liem at their meeting. (Source: HCM City People’s Committee Website)

Mr. Taylor held discussions on competitive long-term packages with public and private project sponsors in Hanoi. On the third day of his visit, Louis Taylor travelled to Ho Chi Minh City and held several meetings, including one with Mr. Le Van Liem – Deputy Chairman of HCMC People’s Committee.  Mr. Liem appreciated the offer from UKEF for the infrastructure progress of Vietnam and looked forward to further investment from UK companies in different sectors, in particular for Healthcare and Education projects. Mr. Taylor expressed a firm belief in the significant progress made by  Vietnam’s economy and, expressed his hope that the with UKEF support that the UK could continue to support the development made to date. 

Louis Taylor also met with UK business leaders in HCMC including the Urban Development Working Group, Mr Kenneth Atkinsion  - Executive Chairman of Grant Thornton Vietnam and Mr Tom Vaizey - Legal Counsel of the Dragon Capital Group. 

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