Vietnam Insurance Report Q4 2017 and Forecasts To 2021

Overview of Vietnam Insurance Report Q4 2017 – Includes 5-year forecasts to 2021 by BMI Research

1. BMI Industry View

2. SWOT

3. Industry Forecast

4. Insurance Risk/Reward Index

5. Market Overview

6. Company Profile

7. Methodology

Opportunities

■ Rising income levels mean many households will be in a position to afford insurance products by 2021 and beyond.
■ The massive growth in agency networks that is currently under way in the life segment should enable a sizeable increase in overall premiums.
■ The size and importance of commercial lines means that the non-life segment should grow in real terms as long as the economy can continue to expand.
■ Life companies are developing new and improved products, such as education savings plans for children.
■ Life companies are entering into bancassurance relationships and are undertaking other distribution initiatives.
■ The government has launched a trial programme to promote the development of export credit insurance.
■ Vietnam’s government is gradually easing restrictions on foreign companies and appears more receptive to overseas investment and ownership.

Threats

■ High inflation could constrain households from becoming first-time users of life insurance, in a country where well over 80% lack cover.
■ Lack of development and volatility in the Vietnamese capital and bond markets complicate investment strategies.
■ Vietnam is vulnerable to natural disasters, which would impact heavily on the country’s non-life firms.

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Vietnam Food and Drink Report Q4 2017 and forecasts to 2021

Overview of Vietnam Food and Drink Report Q4 2017 – Includes 5-year forecasts to 2021 by BMI Research

1. BMI Industry View

2. SWOT

3. Industry Forecast

4. Food & Drink Risk/Reward Index

5. Market Overview

6. Competitive Landscape

7. Company Profile

8. Demographic Forecast

9. Methodology

Opportunities

■ Rising income levels and changing lifestyles, particularly in urban areas, are increasing consumer demand for snacks, convenience and luxury food and drink items.
■ A growing tourism sector fuels interest in convenience categories, in addition to subsectors such as soft drinks and alcohol.
■ As the Vietnamese state plans to reduce its stake in state-owned brewers, interest from regional and global brewers will pick up, translating into opportunities to modernise the sector.

Threats

■ Vietnam’s WTO membership may result in smaller companies who are unable to cope with the increased competition being forced out of business.
■ If relations with China deteriorate, the Vietnamese economy will suffer and could lose a significant political ally and trade partner.
■ Further tax hikes in the alcoholic drinks sector could threaten growth in the sector

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Vietnam Autos Report Q4 2017 and forecasts to 2021

Overview of Vietnam Autos Report Q4 2017 – Includes 5-year forecasts to 2021 by BMI Research

1. BMI Industry View

2. SWOT

3. Industry Forecast

4. Industry Risk/Reward Index

5. Company Profile

6. Regional Overview

7. Demographic Forecast

8. Methodology

Opportunities

■ Ongoing car tax cuts should boost the local auto sales market across 2017.
■ The reduction of tariffs to 0% on CBU imports from ASEAN (starting January 2018) will give automakers a further chance to increase their domestic sales through imports.
■ Local producers are also slashing car prices ahead of year-end, in order to shift stock ahead of the imminent start of cheaper imports.
■ Smaller cars should see stronger sales growth, as they are benefiting from greater tax cuts.
■ Recent investments by PSA and Hyundai in local manufacturing have  improved the near-term production outlook.

Threats

■ The elimination of import tariffs from ASEAN member states by 2018 will undermine domestic vehicle manufacturing.
■ Rising traffic congestion presents an obstacle to new car sales.
■ Any renewed slowdown in the Vietnamese economy would, by extension, lead to a fall in new vehicle sales.

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Vietnam Telecommunication Report Q3 2017 and forecasts to 2021

Overview of Vietnam Telecommunication Report Q3 2017 – Includes 5-year forecasts to 2021 by BMI Research

1. BMI Industry View

2. SWOT

3. Industry Forecast

4. Industry Risk/Reward Index

5. Market Overview

6. Regulatory Development

7. Competitive Landscape

8. Company Profile

9. Demographic Forecast

10. Methodology

Opportunities

Government approach to liberalise the telecoms industry could see the entrance of more foreign investors.
Divestiture of MobiFone from VNPT, and the former’s planned public offering should provide the impetus for operators to launch better quality services.
Vinaphone launches 4G services in Phu Quoc Island and will expand to key areas in Q216 while Viettel is expected to roll-out nationwide in April 2017.

Threats

Geographical challenges to network deployments; nearly one-third of Vietnam’s villages lie in mountainous areas without access to telecommunications services.
The number of inactive mobile subscribers is unknown in what is still a market that lacks transparency and reliable data.
The delayed introduction of 4G caused Vietnam to trail behind its regional peers.

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Vietnam Power Report Q3 2017 and forecasts to 2026

Overview of Vietnam Power Report Q3 2017 – Includes 5-year forecasts to 2026 by BMI Research

1. BMI Industry View

2. SWOT

3. Industry Forecast

4. Market Overview

5. Company Profile

6. Demographic Forecast

7. Methodology

Opportunities

■ The national power development plan for the 2011-2020 period targets an increase of aggregate power output from 194-210TWh by 2015, to 330-362TWh by 2020 and 695-834TWh by 2030.
■ Vietnam has emerged as an important regional producer of oil and natural gas, allowing greater foreign company involvement in the oil and gas sectors, and introducing market reforms aimed at strengthening the country’s energy industry.
■ Potential increases in electricity prices could result in profitability for energy producers.
■ Wind power and other renewables are starting to receive more investor attention.

Threats

■ The country presents a risky environment for major infrastructure projects, especially with regard to project finance operations.
■ Vietnam’s existing energy infrastructure is poor, delaying integration of new capacity.
■ Corruption is widespread in Vietnam.
■ There is growing (albeit still limited) public dissatisfaction with the leadership’s tight control over political dissent.

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Vietnam Information Technology Report Q3 2017 and forecast to 2021

Overview of Vietnam Information Technology Report Q3 2017 – Includes 5-year forecasts to 2021 by BMI Research

1. BMI Industry View

2. SWOT

3. Industry Forecast

4. Market Overview

5. Company Profile

6. Demographic Forecast

7. Methodology

Opportunities

■ Notebooks and hybrid notebooks are a source of continuing growth opportunities in the PC market where functionality differentiation with regard to smartphones is greater and vendors can capitalise on purchasing power growth.
■ Decision in July 2014 to enable state agencies to use outsourced information technology providers for the first time opens a new growth channel for vendors.
■ Small- and medium-sized enterprises have potential to increase spending on basic solutions, including customer relationship management and security.
■ The government’s drive to create an IT services industry over the next 15-20 years – including the National Technology Innovation Fund – is expected to accelerate the development of local enterprises.
■ Cloud computing awareness has risen fast and adoption is expected to accelerate over the short-to-medium term as network infrastructure improves and awareness levels increase.

Threats

■ Downturn in PC market could persist if smartphones are regarded as standalone computing devices by a large part of the population.
■ External shocks, such as a hard landing in China or disruption to regional/global trade networks from a Trump presidency.
■ Cybersecurity issues could undermine confidence in IT solutions and services, with big data and cloud computing vulnerable

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Vietnam Freight Transport and Shipping Report Q3 2017 & Forecasts to 2021

Overview of Vietnam Freight Transport & Shipping Report Q3 2017 – Includes 5-year forecasts to 2021 by BMI Research

1. BMI Industry View

2. SWOT

3. Industry Forecast

4. Market Overview

5. Company Profile

6. Demographic Forecast

7. Methodology

 

Opportunities

The beginnings of local commercial vehicle production, which will help improve the stock of trucks used by road haulage companies.
Chinese investment could bring about much-needed improvements in the rail sector.
Increase in hi-tech production moving into Vietnam from China and telecoms from India will increase demand in transport capacity and particularly air freight.
Government approval of the VND336.7trn (USD16bn) construction of Long Thanh international in the southern Dong Nai Province provides opportunity for new routes and increased capacity, with the handling of 5mn tonnes of cargo by 2050.
Vietnam’s signing of a free trade deal with Russia-led Eurasian Economic Union (EEU) will drive trade growth and therefore between the two markets opening up new opportunity for the freight industry. The government further signed an FTA with South Korea which will stimulate trade between the two economies.
Japan’s leading aircraft group, ANA Holdings, is seeking to buy a 5% stake in Vietnam Airlines. If closed successfully, the deal will provide a boost to Vietnam’s air freight growth as we expect trade ties with Japan to intensify.
Vietnam’s textile sector is considered to be among the big winners of the TPP. If successfully ratified, in particular road freight will be boosted by growing textiles exports.

Threats

Vietnam risks losing out to neighbouring countries if it is unable to develop its infrastructure to keep up with the pace of demand.
Vietnam is vulnerable to any slowdown in Chinese investment and to political risk in the sensitive South China Sea, subject to competing sovereignty claims.
The government has been unable to satisfy the demand for improved transport services in the country coming on the back of growing customer demand.
Congestion remains an issue around the Ho Chi Minh City seaports, which poses a bottleneck for road freight growth.

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