Situated in Linh Trung 3 Export Processing Zone in An Tinh commune, Trang Bang district, Tay Ninh province, Phoenix Vietnam Artist Material Co., Ltd is a wholly Chinese-invested company which specialises in manufacturing picture frames for export to European countries. The company now has 420 highly experienced and skilled employees.
Despite the prolonged economic crisis, the company has managed to overcome difficulties and assert its strong foothold in domestic and world markets. This success not only comes from the strong financial capacity of the company and efforts of all dedicated staff, but also from the talent of the leadership.
To learn more about the company’s difficulties and advantages in doing business in Vietnam, Vietnam Business Forum interviewed Mr Wang Yi Yuan, General Director of Phoenix Vietnam Artist Materials Co., Ltd. Duy Anh reports.
Could you please talk about your company’s advantages and difficulties in doing business in Vietnam? Do customs procedures in Vietnam affect your company much?
I see that investors from Southeast Asia countries, Japan and South Korea do not have many difficulties living and doing business in Vietnam because they share many common traditions. Furthermore, the political stability in Vietnam ensures smooth operations. With a population of 90 million, Vietnam is a very large labour market, with lower labour costs than other Southeast Asian countries. Hence, the country is a favoured destination for many investors. Nevertheless, there are still drawbacks like poor transportation, communications and port infrastructures. Administrative policies are cumbersome, unlike in developed countries.
Customs and tax procedures are troublesome and time-consuming for enterprises. Changeable tax policies often confuse businesses.
From your experience with difficulties and obstacles, do you have any message to Vietnamese Governmental agencies?
Vietnam should focus on developing higher education to meet the demand. Administrative policies should be more open to attract more foreign investors to generate more economic benefits. It should concentrate on developing local economies, because investors normally recruit local labourers and train them. For the time being, Vietnam is a more attractive destination than other countries in the region such as Thailand, Indonesia and the Philippines.
Đăng ký: VietNam News
