The information that Vietnam has finished the TPP negotiation pushing many phone manufacturing companies like Archos (France), Compal (Taiwan) to promote their market expansion plan and investment in through setting up business in Vietnam.
The Archos phone company (France) and their distributor – Petrosetco (Vietnam) are recently launching 7 product lines in Vietnam market.
Mr. Frederic Balay - Senior Vice President and CEO in charge of North American of Archos has opined that Vietnam is large market which phone demand is constantly increasing every year. Along with that, while Vietnam is an official member of the TPP, the market will be extended to billions of people and 40% of global GDP, attractive offers on tariffs for intra-origin goods.
Mr. Frederic Balay also said that these product lines are designed by a team of engineers in France and factories in China of Archos are undertaking production. But he revealed that the company is making long-term plans in Vietnam market.
At the end of September, a major phone producer - Compal (Taiwan) also confirmed their decision to return to Vinh Phuc to continue investing in the plan to produce smart phone which was left unfinished at the end of 2007.
Mr. Vincent Lee, Deputy General Director of Compal factory in Vietnam said that in two recent months, Compal has urgently repaired factory system; installed equipment, machinery; worked with a number of localities inside and outside of the province for employment and preparing to welcome the world's top customers to visit exploring opportunities for investment and cooperation in smart phone manufacturer in Vinh Phuc.
Vinh Phuc leader suggested that Compal should shorten the negotiation with partners, and soon to announce the list of products to be produced, as the basis from now until the end of 2015. The province can adjust the investment certificate has signed and complete the procedures, mechanisms and policies to support the project in accordance with the law of Vietnam.
Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.
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