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  • Vietnam - A Promising Market - Continuous Strong Economic Growth
  • Fast ICT Market Growth - Some Indicators
  • Huge Investment by World Leading IT Firms
  • 2008: Golden Opportunity for 3G
  • Vietnam's First Satellite - Vinasat-1
  • New Operator to the Mobile Phone Market - GTel
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    March 5, 2008
    Vietnam - A Promising Market - Continuous Strong Economic Growth
    The Institute of Developing Economies under Japan External Trade Organization (IDE-JETRO) has released its annual report on East Asian Economic Prospects in 2008. The report said in 2008 Vietnam will continue stronger economic growth and reduce inflation.

    Experts of IDE confirmed that Vietnam's economy will continue more aggressively growing amidst the gloomy situation of East Asia and the world's economies. Accordingly, Vietnam's GDP is projected to reach 8.7% in 2008, up by 0.3% against last year's figure 8.4%.

    According to IDE, both domestic and foreign investors put high expectations on the second year of Vietnam's entry into the World Trade Organization (WTO). Thus, investment in Vietnam this year will expand by another 10% against 2007. Export will rise by 12%, and industrial production will post a two-digit growth rate of 10.8%.

    Thanks to great impacts of foreign direct investment and with the leading role of trade, transport, tourism and real estate sectors, service sector is forecasted to continue posting a year-on-year growth of 8.8% in 2008.

    Strong local demand of the economy will continue being an impetus for the economic development.

    IDE said the strong growth of industrial and service sectors is expected to lead Vietnam's economy to higher growth. The report wrote that agriculture, forestry sectors of Vietnam will surge by 3.5% in 2008 thanks to improvement of infrastructure and export items will continue increasing highly.

    In addition to the optimistic views on economic growth, IDE said that Vietnam's inflation will reduce to 8.1% in 2008 although the expected robust economic growth will generate great pressure on inflation. The report said the price stability of agriculture products in Vietnam is the main reason for reining inflation in 2008.

    (Source: Vietnam Economic Times)



    Fast ICT Market Growth - Some Indicators
    According to the Vietnam News Agency, "Viet Nam had 18.5 million new telephone subscribers in 2007, almost equally the combined figure of the three previous years. As a result, the total number of subscribers reached 46 million, or 54 telephones for every 100 people. Of the total subscribers, 75 percent are mobile phone users. The figure made the country one of the world's fastest nations in telecom development.

    Broadband internet services (ADSL) also see strong expansion in the year. According to the General Statistics Office, the country had 5.1 million internet subscribers and 18.2 million internet users or 21.6 percent of the population-the high average rate in the world. Fifty percent of the total 8,020 commune cultural post offices nationwide have access to the Internet.

    Such IT service providers as Yahoo, Microsoft, IBM, Vodafone and eBay are intensifying their operations in Viet Nam with the aim of making the country's IT industry an attractive sector for foreign investment."

    According to the announced statistics from the General Statistics Office of Vietnam, the net turnover in Telecommunications & Post was increased by 19.6% annually up to 54500 billion VND in end 2007. The import of the electronics, computers and spare parts was increased by 43.7% annually up to 2944 million USD in end 2007. The export of electronics and computer was increased by 27.5% annually up to 2178 million USD in end 2007.

    (Source: General Statistics Office of Vietnam & Vietnam News Agency)

    Total numbers of fixed and mobile subscribers in 2007

    (Source: Ministry of Information and Communications)




    Huge Investment by World Leading IT Firms
    Five global IT giants - Intel, Renesas, Campal, Samsung and Foxconn - have invested almost 10 billion USD in Viet Nam to produce cell phones, communication appliance and computers.

    Taiwan's Foxconn plans to invest 5 billion USD in Viet Nam during next 5 years.

    Sonion Viet Nam Co. Ltd, a subsidiary of the Danish Sonion group, opened a new production facility on 9 Jan in the Sai Gon Hi-Tech Park in Ho Chi Minh City 's District 9. Located on 11,000 sq.m., the facility will produce micro-acoustic and electro-mechanical solutions for hearing instruments and professional audio and mobile terminals, including silicon microphones based on micro-electric mechanism system (MEMS) technology. The company targets export turnover of 30 million USD for the year. ?What we found here in Viet Nam was a high level of security and stability, cost efficiency, very good labour skills and attitude, a balanced labour law, and good and improving infrastructure,? said The chairman of Sonion Viet Nam 's management board, Jorn Morkeberg Nielsen.

    (Source: Vietnam News Agency)



    2008: Golden Opportunity for 3G
    According to Deputy Minister of Information and Communications Le Nam Thang, the Vietnamese Government has created favorable conditions for telecom companies to apply this advanced technology. Some telecommunication firms will have to prove their ability to apply 3G in early 2008. Thang said the prices for 3G-based telecom equipment are being gradually reduced to match the average Vietnamese income.

    In addition to the decline in telecom charges, mobile markets this year will soon welcome a new competitor by the name of GTel to the game. GTel resulted from an agreement in principle last year between Vietnam's Ministry of Public Security and Russia's telecom giant VimpelCom. Under the agreement, a joint venture will be established by the ministry, VimpelCom and Millennium Global Solutions Group of the U.S. VimpelCom will invest up to US$1bil over several years to develop a GSM mobile network and provide technical and operational expertise, he adds.

    (Source: VietNamNet Bridge)



    Vietnam's First Satellite - Vinasat-1
    Vietnam's first satellite, Vinasat-1, is scheduled to be launched into orbit on April 2 at 132 degrees east - a position that Vietnam registered with the International Telecommunications Union (ITU) in 1999. According to the Viet Nam Post and Telecommunications Group (VNPT), the latest satellite check prior to the launch has been successfully completed. Vinasat will be able to provide more than 200 digital television channels and tens of thousands of Internet data transmission and telephone channels. The 180 million USD satellite is expected to cover Vietnam , Laos , Eastern Asian nations, India and Australia . The lift-off of Vinasat-1 will help improve the country's telecom network and help save around 15 million USD per year from hiring satellites.

    (Source: Vietnam News Agency)



    New Operator to the Mobile Phone Market - GTel
    Vietnam already has six mobile phone service providers: Vinaphone, MobiFone, Viettel, S Fone, EVN Telecom and HT Mobile. The Global Telecom Corp (GTel) has become the seventh enterprise to enter the Vietnam's mobile phone market. Under the operating license recently granted by the Ministry of Information and Telecommunications, GTel will also provide telecom infrastructure. GTel is a joint venture between the Ministry of Public Security and Russia's second biggest mobile phone service provider Vimpelcom, which announced that it would invest 1 billion USD and provide technical assistance over the next few years to develop this mobile network.

    (Source: VietNamNet Bridge)
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
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