Domestic banks are struggling to compete with foreign banks, which are powerful in online payment technology, and with businesses applying online payment methods.
The business fields that Thais have poured money to in Vietnam – infrastructure, building materials, retail, consumer goods, food and automobiles – are all fields with great potential.
Some foreign investors have warned that they may leave Vietnam because of unfavorable conditions to do business. However, Vietnamese businesses and analysts believe they will stay in the country.
Economists have repeatedly urged to think of solutions to escape the reliance on Chinese goods, but the task remains difficult.
The owner of DreamPlex, a co-working space in Ho Chi Minh City, and CEO of the Trung Thuy Group, a real estate company, Nguyen Trung Tin, still remembers the stress of opening four businesses four years ago.
The distance between the dream and reality of an aircraft industry in Vietnam is very wide, experts say.
The Ministry of Industry and Trade (MOIT) has estimated that the trade deficit may be as high as US$4 billion in 2015. Meanwhile, the Hong Kong and Shanghai Banking Corporation (HSBC) has predicted the figure would be higher than US$6 billion, far outstripping last year’s US$0.6 billion.
International travelers explore the countryside by bike or do farm work such as ploughing and riding a buffalo.
Known for his garden of giant pumpkins, originating from America, farmer Le Huu Phan in the resort city of Da Lat, in central Vietnam, has successfully planted nearly ten special varieties of fruits and vegetables. His garden has become a new tourist attraction in Da Lat.
Seafood companies are experiencing tough days, but they are still spending big money to take over companies in the same field to prevent their situation from becoming even worse.