The gap has narrowed since last year, but it's still wide enough to make a huge difference.
Consumer lending in Vietnam has prospered in recent years thanks, in large part, to the lending expertise of foreign firms, which has helped to propel the sector closer to its full potential.
Online retail is expected to continue increasing, as domestic and foreign retail companies are planning to invest heavily in this field.
In commemoration of Liberation Day on April 30, VIR spoke with leaders of foreign firms in Vietnam about Ho Chi Minh City’s 42-year development, and its attractiveness to foreign investment as the country’s regional economic and financial hub.
Foreign investors in Vietnam show an increased level of knowledge and responsibility in respect of environment protection, according to a high-profile survey.
Local cement producers worry that their exported products could struggle to compete with foreign firms in term of price, a concern voiced at an online forum held in Hanoi on February 22.
Vietnamese enterprises are working hard to become suppliers of parts and accessories for foreign electronics manufacturers.
Competition in Vietnam’s animal feed industry is falling out of balance, with foreign firms dominating more and more of the local market.
The Finance Ministry (MoF)’s proposal to almost triple the environmental protection tax on oil and gas consumption would reduce businesses’ competitiveness against foreign firms, according to the Vietnam Chamber of Commerce and Industry (VCCI).
The Ministry of Labor, Invalids and Social Affairs has proposed an amendment to the Labor Code that would sharply increase the country's overtime limit.
An increasingly large number of foreign companies have visited Can Tho City this year to sound out business and investment prospects, with many of them coming from Japan, the Republic of Korea, Thailand and India.
Vietnamese cosmetic producers are losing their domestic market share because of not investing in developing brands and improving packaging, a conference heard in HCM City recently.
Prime Minister Nguyen Xuan Phuc has affirmed that the Vietnamese government will provide all possible support for foreign firms, including those from the Republic of Korea (RoK), to do business in Vietnam, contributing to lifting two-way trade to US$70 billion in the next five years.
The biggest environmental scandal ever in Vietnam by Taiwan’s Formosa Plastics Corporation has caused foreign firms doing business here to be more concerned with regards to environmental protection issues.
Losing out in the carbonated soft drink market segment, Vietnamese drink manufacturers also cannot compete with foreign ones in products which use materials available in Vietnam.
Foreign-invested enterprises (FIEs) with distribution rights will be able to open retail outlets of up to 500 sq m under a draft decree clarifying the trading of goods by FIEs under the Commercial Law.
Representatives of more than 300 Vietnamese enterprises participated in Vietnam CEO Forum 2016, entitled “Boosting Strengths for Businesses in global integration” held recently in Hanoi.
The Ho Chi Minh City will host the International Fair on Environmentally Friendly Technologies 2016 (Ecotech Vietnam) which is scheduled for May 5-7.
Foreign firms are set to capitalise on Vietnam's privatisation drive and buy into assets such as Vinamilk and Mobifone to gain exposure to its fast-growing economy this year, boosting M&A deals that already hit a record US$4 billion in 2015.
Mergers and acquisitions are churning the Vietnamese retail market, with large domestic players buying out rivals and massive investment by foreign retailers.