Vietnamese software company wins biggest ever IT project in Myanmar

[Viet]

http://www.mizzima.com/business-domestic/vietnamese-it-company-selected-modernise-myanmar’s-public-finance-system
Vietnamese IT company selected to modernise Myanmar’s public finance system
By Mizzima
On Monday, 27 February 2017

FPT Building, Duy Tan Street, Dich Vong Hau Ward, Cau Giay District, Hanoi, Vietnam. Photo: wikimapia.org


Vietnamese IT giant FPT Corporation has been selected by Myanmar to implement a 11.3 million USD project that is part of a programme to modernise the nation’s public finance system, Saigon gpdaily reported on 26 February.

FPT beat 12 competitors from China, India, Singapore, Malaysia and Myanmar to win the biggest IT project of the Myanmar government thus far, the report said.

The project is also the biggest World Bank funded IT project in the country, according to FPT.

The project will be implemented by two FPT members, FPT Information System and FPT Myanmar.

 

[Viet]

new FTP Campus (Hanoi). Revenue $2b in 2016, average salary per worker $500 a month.

 

[Roy Chang]

Congratulations!
FPT campus also accept Chinese students?
I see Chinese in large font..

 

[TaiShang]

http://www.mizzima.com/business-domestic/vietnamese-it-company-selected-modernise-myanmar’s-public-finance-system
Vietnamese IT company selected to modernise Myanmar’s public finance system
By Mizzima
On Monday, 27 February 2017

FPT Building, Duy Tan Street, Dich Vong Hau Ward, Cau Giay District, Hanoi, Vietnam. Photo: wikimapia.org


Vietnamese IT giant FPT Corporation has been selected by Myanmar to implement a 11.3 million USD project that is part of a programme to modernise the nation’s public finance system, Saigon gpdaily reported on 26 February.

FPT beat 12 competitors from China, India, Singapore, Malaysia and Myanmar to win the biggest IT project of the Myanmar government thus far, the report said.

The project is also the biggest World Bank funded IT project in the country, according to FPT.

The project will be implemented by two FPT members, FPT Information System and FPT Myanmar.

High end export is the way to go for developing East Asian nations. Otherwise, they will forever stay in a stage of resource-extracting position.

I am in fact surprised that Vietnam has trade deficit. This is uncharacteristic of developmental East Asian states which are, in their initial development, are all export-oriented and trade-surplus nations.

I wonder Vietnam hold any Forex reserves or not.

***

Vietnam to post trade deficit of 1.2 bln dollars in February
Xinhua, February 28, 2017

Vietnam is expected to report a trade deficit of 1.2 billion U.S. dollars in February 2017, said the General Statistics Office (GSO) on Tuesday.

The GSO's figures revealed that the country's total import-export turnover reached 27.2 billion U.S. dollars during the month. Of which, export turnover was 13 billion U.S. dollars, increasing 15.4 percent from the same period last year, while import turnover was 14.2 billion U.S. dollars or a year-on-year rise of 19.6 percent.

However, in the first two months of 2017, the country's total trade deficit was 40 million U.S. dollars as total export turnover was 27.34 billion U.S. dollars while import turnover was 27.38 billion U.S. dollars.

The GSO said many Vietnamese exported products saw a sharp decrease in February against the same period last year such as pepper, rice, cashew nuts, cassava, germ and ceramics.

Meanwhile, in February, many items posted surge in exports. Coal rose by 1,104 percent and 466 percent in terms of value and volume while rubber went up by 144 percent and 34.7 percent, respectively. Steel, phones, spare parts and machines also saw high export turnover.

At the same time, import turnover of automobiles with less than nine seats rose nearly 100 percent in value and 140 percent in volume year-on-year, while those of transport vehicles rose by 38 percent and rubber rose by 103.4 percent in terms of value.

Last month, Vietnam's trade deficit rose by 100 million U.S. dollars after enjoying a trade surplus of 2.68 billion U.S. dollars in 2016, said GSO.

@Viet

 

[Viet]

High end export is the way to go for developing East Asian nations. Otherwise, they will forever stay in a stage of resource-extracting position.

I am in fact surprised that Vietnam gives trade deficit. This is uncharacteristics of developmental East Asian states which are, in their initial development, are all export-oriented and trade-surplus nations.

I wonder Vietnam hold any Forex reserves or not.

***

Vietnam to post trade deficit of 1.2 bln dollars in February
Xinhua, February 28, 2017

Vietnam is expected to report a trade deficit of 1.2 billion U.S. dollars in February 2017, said the General Statistics Office (GSO) on Tuesday.

The GSO's figures revealed that the country's total import-export turnover reached 27.2 billion U.S. dollars during the month. Of which, export turnover was 13 billion U.S. dollars, increasing 15.4 percent from the same period last year, while import turnover was 14.2 billion U.S. dollars or a year-on-year rise of 19.6 percent.

However, in the first two months of 2017, the country's total trade deficit was 40 million U.S. dollars as total export turnover was 27.34 billion U.S. dollars while import turnover was 27.38 billion U.S. dollars.

The GSO said many Vietnamese exported products saw a sharp decrease in February against the same period last year such as pepper, rice, cashew nuts, cassava, germ and ceramics.

Meanwhile, in February, many items posted surge in exports. Coal rose by 1,104 percent and 466 percent in terms of value and volume while rubber went up by 144 percent and 34.7 percent, respectively. Steel, phones, spare parts and machines also saw high export turnover.

At the same time, import turnover of automobiles with less than nine seats rose nearly 100 percent in value and 140 percent in volume year-on-year, while those of transport vehicles rose by 38 percent and rubber rose by 103.4 percent in terms of value.

Last month, Vietnam's trade deficit rose by 100 million U.S. dollars after enjoying a trade surplus of 2.68 billion U.S. dollars in 2016, said GSO.

@Viet

Vietnam runs a structural deficit since decades because import grows faster than export. Yes the forex reserves are thin. Thing has improved a bit since two years when we see a small surplus of few billions dollars. I expect that will continue. Vietnam is midst of industrialization hence there is a huge need of import of machineries and raw products. Besides Vietnam imports lots of consumer products because domestic companies can't sastify the fast growing market. Chinese companies make good profits. Donald Trump can't complain either, because Vietnam is reportedly the fastest growing market for US products.

Have you read the article you posted? Export grows 15pct, but import grows faster by 20pct. Vietnam is one of few nations that sees both growing import and export in double digit numbers. Assume the world market continues to recover I expect VN total trade figure of $350b this year and $400b next year.

 

[Viet]

Congratulations!
FPT campus also accept Chinese students?
I see Chinese in large font..

Yes but I don't think Chinese students will storm FPT because the salary is much lower than in China.

The characters should be Japanese. Japan has a big client base for the company. It just opens the 4th office in Japan.

 

[TaiShang]

Have you read the article you posted? Export grows 15pct, but import grows faster by 20pct. Vietnam is one of few nations that sees both growing import and export in double digit numbers. Assume the world market continues to recover I expect VN total trade figure of $350b this year and $400b next year.

I read. I think imports growing faster than exports is fine initially if the imports are not finished products but intermediate goods (machinery) and hydrocarbons (oil, gas).

Then this means your economy is growing and exports will likely pick up once home consumption is satisfied.

China's import fluctuations are mostly due to price fluctuations in hydrocarbons and minerals in global market. I am not sure about the constitution of Vietnam's imports. You can enlighten me on this.

 

[Viet]

I read. I think imports growing faster than exports is fine initially if the imports are not finished products but intermediate goods (machinery) and hydrocarbons (oil, gas).

Then this means your economy is growing and exports will likely pick up once home consumption is satisfied.

China's import fluctuations are mostly due to price fluctuations in hydrocarbons and minerals in global market. I am not sure about the constitution of Vietnam's imports. You can enlighten me on this.

You can't compare Vietnam to China. The first was totally destroyed in the long wars. in addition the French previously had done very little to industrialize Vietnam during the colonisation period. We virtually began by zero. so VN industrial and manufacturing basis is still weak. second, VN economy is wide open, so basically it imports everything from every country. the people have the choice to buy stuffs what fit their tastes and incomes. for example, VN spends $800 million for foreign fruits although we can grow everything domestically in huge amount. But if the people want Japanese apples or New Zealand kiwi fruits then they do.

VN ran huge trade deficits for decades draining on reserves but luckily there are wealthy exile Vietnamese who financed the deficits.

But now thing becomes interesting because VN begins to accumulate trade surplus and forex reserves.

 

[jhungary]

The GSO said many Vietnamese exported products saw a sharp decrease in February against the same period last year such as pepper, rice, cashew nuts, cassava, germ and ceramics.
@Viet

Are you saying Vietnam export Biological Weapon?

lol @Viet

 

[Viet]

Are you saying Vietnam export Biological Weapon?

lol @Viet

I think it is a typo. We are peaceful people. The author may want to say gem. Or maybe vaccine.

 

[jhungary]

I think it is a typo. We are peaceful people. The author may want to say gem. Or maybe vaccine.

I think they meant Gem. not Germ...or maybe German.....

 

[TaiShang]

You can't compare Vietnam to China. The first was totally destroyed in the long wars. in addition the French previously had done very little to industrialize Vietnam during the colonisation period. We virtually began by zero. so VN industrial and manufacturing basis is still weak. second, VN economy is wide open, so basically it imports everything from every country. the people have the choice to buy stuffs what fit their tastes and incomes. for example, VN spends $800 million for foreign fruits although we can grow everything domestically in huge amount. But if the people want Japanese apples or New Zealand kiwi fruits then they do.

VN ran huge trade deficits for decades draining on reserves but luckily there are wealthy exile Vietnamese who financed the deficits.

But now thing becomes interesting because VN begins to accumulate trade surplus and forex reserves.

I do not compare to China, per se. I do compare to developmental states of the Confucius sphere, Japan becoming the torch holder, not China. China adopted a similar model, of course, with certain differences due to internal differences and external geopolitical environment.

Nonetheless, the contours of a developmental state are obvious and universal in East Asia. Vietnam would likely follow that model. Of course, one of the specifics of that model is that you would not wide open your market to imports. Neither Japan, nor Korea, nor Taiwan CN, nor Mainland China did that.

I would be surprised if Vietnam really opened up to foreign imports entirely before achieving a meaningful domestic manufacturing base. Of course, not manufacturing of everything like China, but at least certain strengths like Taiwan CN's dominance over computers and machinery in the 90s and now over semiconductors.

You need to capture your industrial strong points and protect them.

Are you saying Vietnam export Biological Weapon?

lol @Viet

Must be typo. Probably gem. I do not think Vietnam is able to export vaccines or any other medical products.

 

[Viet]

Must be typo. Probably gem. I do not think Vietnam is able to export vaccines or any other medical products.

you are not informed. Vietnam is one of 25 countries in the world that can produce lots of vaccines. we have 4 factories producing 12 types of vaccines: tuberculosis, diphtheria, pertussis, tetanus, measles, polio, hepatitis B, hepatitis A, Japanese B encephalitis, cholera, typhoid, and diarrhea.

and for export of vaccines
http://news.xinhuanet.com/english/2015-04/22/c_134174815.htm

 

[TaiShang]

you are not informed. Vietnam is one of 25 countries in the world that can produce lots of vaccines. we have 4 factories producing 12 types of vaccines: tuberculosis, diphtheria, pertussis, tetanus, measles, polio, hepatitis B, hepatitis A, Japanese B encephalitis, cholera, typhoid, and diarrhea.

and for export of vaccines
http://news.xinhuanet.com/english/2015-04/22/c_134174815.htm

Do you export vaccines? If so, that's great. That could be one of your strengths, especially if you break through the generic-production cycle for big Western pharmaceuticals.

What is Vietnam's export structure? I am definitely not well-informed. I can check Baidu or others, but you will likely have enough insight on this.

 

[Viet]

Do you export vaccines? If so, that's great. That could be one of your strengths, especially if you break through the generic-production cycle for big Western pharmaceuticals.

What is Vietnam's export structure? I am definitely not well-informed. I can check Baidu or others, but you will likely have enough insight on this.

vaccines are for domestic use, not yet exported to other countries. the reason is VN still lacks capacity of producing vaccines in mass scale. I think it will take 5 years from now to acquire all necessary technologies and set up factories. so we will see. as for exports, basically VN still exports low to medium value goods, from shrimps to garments to oil products to smart phones. VN´s greatest hope lies on successful industrialization of agrarian sector, manufacturing, industry and education.

too much if going in length in details, maybe mentioning one thing here. most people probably don´t know it: from zero, VN is now the world´s largest producer of robusta coffee. Brazil dominates the market by Arabica variant. in volumes, VN is second to Brazil. so the chance is high if you drink coffee, it may come from VN. however there is a fundamental weakness of VN coffee industry: added value to the bean.

the price you get for fresh coffee bean is much lower than roasted bean. Germany dominates the world´s market for processed bean. that is the way to go for VN: processing coffee beans for export.