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BUSINESS
IN BRIEF 16/10
October CPI
likely to increase by 0.76%
Credit
organizations forecast that the October consumer price index (CPI) will rise
just 0.76% compared to the September figure of 1.06%.
The forecast came
in the latest survey conducted by the State Bank of Vietnam (SBV)’s Monetary
Statistics and Forecasting Department from late September to early October
among credit organizations and foreign-invested banks in
The October
forecast of 0.76% is 0.85% lower than the same-month figure of last year.
This year’s CPI
growth rate will be around 7%, 0.05% lower than the predicted index in a
similar survey conducted earlier.
Stock
market boost expected from TPP
The Trans-Pacific
Partnership Agreement (TPP) was expected to make a great impact on the
Vietnamese economy in general and the stock market in particular.
Its impacts might
be stronger than those when
Some experts said
that
There are currently
12 countries participating in the TPP negotiations, including
In the first eight
months of this year,
Among export
sectors to the
Domestic textile
and garment businesses had rapid revenue growth, but profitability was not as
high as expected.
"Therefore,
small changes in tax rates, exchange and interest rates as Vietnam joined the
TPP will also strongly impact the profitability of these enterprises,"
BIDV Securities commented.
In addition, one of
the most notable points in the TPP negotiations was that
Recently, the
Government has urged SOEs to divest from their non-core industries.
"It is a big
opportunity for
Foreign
institutions had expected the divestment of SOEs for long, he added.
"It's their chance to buy cheap assets in a potential market like
Thong revealed that
there were over 40 SOEs forced to divest and make their financial conditions
transparent.
Farm expo
opens in HCM City
Agricultural
products and state-of-the-art equipment and technology for storage and
agro-processing have been showcased at Vietnam Farm Expo at the Tan Binh
Exhibition and Convention Centre in
On display at 150
pavilions were key Vietnamese agricultural exports from 80 businesses
including rice, coffee, vegetables, cashews, pepper, seafood and rubber at
the event.
The event has
helped connect domestic producers, enterprises and international importers.
It attracted 5,000
local and foreign enterprises, importers and distributors in the agricultural
sector from many countries, including Australia, the Republic of Korea,
Thailand, Malaysia, Singapore, the US and Indonesia.
The HCM City Union
of Business Associations and Dong Nam Advertising and Commercial Promotion
JSC organized seminars on export markets and updated legal regulations for
export to the
German
businesses keen on Vietnamese market
German businesses
see
As of September
2013,
In the first nine
month of this year, the country registered to run 15 new projects with a
total capital of US$88.56 million.
Most German
companies invest in
In order to lure
more foreign investors,
Marko Walde, Chief
Representative of the German Chamber of Commerce and Industry in
Local
businesses going through crunch time
To survive the
economic slowdown, businesses have no choice but to renovate technology and
cut production costs.
The economic
downturn has taken its heavy toll on businesses, causing many to file for
bankruptcy and halt production. Other businesses had to restructure
themselves to keep their operations purring along.
Many businesses in
Binh Duong and other provinces in the South-eastern region are exerting a
greater effort to weather the storm.
MTV Garment Company
in Binh Duong province is a case in point. It has poured intensive investment
into auto production lines, helping improve labour productivity and cut
production timing by 17-18%.
It has also
diversified product designs and run refresher courses to improve employees’
professional skills.
Since 1999, MTV has
applied free on board (FOB) models for orders from the
These days, more
than 2,500 employees of the company are working on intensive shifts to meet
orders from
So far this year
MTV has fulfilled its yearly set target of earning US$41 million, and revenue
is expected to amount to US$56 million by the end of 2013, a year-on-year
increase of 30%.
The company has
even signed contracts for shipments till the second quarter of next year.
Nguyen Hong Anh,
MTV Director in charge of human resources, says German importers proposed
doubling shipment numbers in the coming months.
Another shining
example is Nghe Nang – a small-and-medium-sized enterprise specialising in
producing industrial fans, cooling equipment and waste treatment facilities.
Its Ifan brand has gained consumer trust, securing nearly 30% of the local
market share.
The firm’s success
is attributed to its technological renovation and improved quality of highly
efficient and durable products.
Many foreign
businesses from
Nghe Nang has set
up a special fund for technology research and innovation to improve product
quality. The company has built manufacturing plants in many localities across
the country, and has recently opened a sales agent in
Luu Tri, Director
of Nghe Nang company, says his firm is focusing on applying automatic
technology to increase product quality and lower production costs. “We are
trying to produce distinctive goods on the local market,” he adds.
Nghe Nang and MTV
Garment are among more than 150 outstanding businesses honoured by the Binh
Duong provincial People’s Committee at this year’s Vietnam Entrepreneur’s Day
(October 13).
Vo Son Dien,
Chairman of the Binh Duong Young Businesses’ Association, says building
trademark and promoting technology renovation are considered key to business
success, especially for small-and-medium-sized enterprises (SMEs).
The Republic of
Korea has sponsored some representatives from Binh Duong-based businesses are
encouraged to attend training courses abroad to increase capacity and update
latest technologies, using aid from the Republic of Korea.
Southern
economic hub to upgrade industrial parks
Under the plan, the
Phong Phu IP would be developed into a hi-tech complex housing
environmentally safe factories, while four other industrial complexes, Saigon
Agriculture Corp (89ha), Da Phuoc (90ha); Bau Tran (95ha); and Pham Van Coi
(75ha), will be turned into IPs.
In the final months
of 2013, HEPZA will help companies gain access to sources of capital and to
expand markets for their products, which will help create more jobs.
According to HEPZA
figures, as of late September 3, the southern economic hub's IPs and EPZs
employed about 270,000 people.
In the first nine
months of the year, investment flows into enterprises in Ho Chi Minh City IPs
and EPZs amounted to 480 million USD, accounting for 96 percent of the year's
target and up by 48.22 percent compared with the same period last year.
These investments
include foreign direct investment (FDI) of 341 million USD, with an
additional investment of 95 million USD into Nidec Tosok's project and a
capital expansion of 129 million USD for the Saigon Precision project.
As of September 30,
the city's IPs and EPZs contain 1,263 investment projects with total capital
of $7.5 billion, including 502 FDI projects capitalised at 4.526 billion USD
and 761 domestically-invested projects with total investment of 44.3 trillion
VND (2.95 billion USD).
Due to the economic
crisis, 99 of these 1,253 investment projects in IPs and EPZs this year have
suspended operations and 24 were dissolved.
Thirty-five others,
mainly those specialising in textiles and garments, construction materials,
interior decor and electrical equipment, cut back on production by 20 to 30
percent.
According to HEPZA,
the biggest problem facing companies is not capital but consumption.
There has been no
sign of a recovery or increase in number of orders for IP and EPZ enterprises
in the southern hub, even though the State Bank of
In the first nine
months of 2013, these enterprises attained export turnover of 3.4 billion
USD, up by only 6.2 percent compared with the same period last year.
A HEPZA
representative said it would enhance its efforts to attract investment into
IPs and EPZs, with a focus on attracting Japanese investment into hi-tech
industries.-
Apartments
prop up property sales in Hanoi
The capital's
apartment market was the busiest in the real estate sector during the third
quarter of this year, but other segments of the city's property market
remained sluggish, according to Do Thu Hang, head of Research and Consultancy
at Savills Hanoi.
Speaking at a
seminar last week, she said that strong construction progress, lower prices
and a variety of promotions had lifted the absorption rate in the apartment
market to 9 per cent, an increase of 2 percent quarter-on-quarter (QoQ).
Grade C apartments
continued to be the key player in the market, with an absorption rate of 15
percent, up 5 percent QoQ.
Five new projects
located in Thanh Xuan, Hoang Mai and Cau Giay supplied more than 1,500 units
to the market, and the total primary stock was about 10,000 units, down 14
per cent QoQ.
Hang said the
majority of buyers were now end-users, who preferred projects in good
locations with certain construction standards and a reasonable price range.
"Shell
apartments have become popular and even Grade A apartments are now on offer
as a means of lowering prices," she said.
While the average
primary asking price for Grade C apartments remained unchanged QoQ, it fell
by 2 percent to 61 million VND (2,900 USD) per sq.m for Grade A and by 3
percent to 32 million VND (1,520 USD) per sq.m for Grade B.
The average
secondary asking price continued to decrease across all districts, declining
5 percent in Ha Dong, and down 3-4 percent in Gia Lam, Hai Ba Trung and Dong
Da districts.
CBRE Hanoi
executive director Richard Leech said at a quarterly meeting last week that
the
Despite falling
prices, performances in retail, offices, hotels, serviced apartments and
villas and townhouses continued on a downtrend in the third quarter due to an
imbalance between supply and demand, according to Hang.
However, CBRE and
Savills officials said that macro-economic improvement related to foreign
direct investment, trade balance and legal frameworks were facilitating
general real estate recovery.
Savills Hanoi
deputy director Tran Nhu Trung said that about 58,200 newly-registered and
11,300 re-opened businesses this year promised significant property demand.
A foreign expert
said the ongoing withdrawal of companies that had invested in real estate as
a non-core line of business would foster market stability in the coming
months.-
Vietnamese Trade
Counselor to China Bui Huy Hoang expects two-way trade turnover between the
two nations to hit US$60 billion by 2015.
Hoang confirmed
Bilateral economic
and investment ties have proliferated continuously, with two-way trade
turnover increasing from over US$30 million in 1991 to more than US$41
billion in 2012.
They have expanded
cooperation across industry, energy, and transport, prioritising road and
railway construction to connect Vietnamese and Chinese localities.
By August 2013,
bilateral trade value totalled nearly US$32 billion, 20% more than a year
earlier.
Chinese businesses
marked their presence in
They have since
developed hundreds of investment projects in almost Vietnamese cities and
provinces with a combined registered capital of nearly US$5 billion.
According to the
Chinese Commerce Ministry’s Deputy Asia Department Head Liang Wentao, Chinese
investors are interested in
Many prospective
investors are monitoring developments and emerging opportunities in border
provinces like Lao Cai, Lang Son, Cao Bang, and Lai Chau.
Most Chinese-funded
projects in
Can Tho
expands aquaculture as a primary industry
The Mekong Delta
city of
With the expanded
area, the city expects to earn at least one billion USD from an annual
production of 335,000 tonnes of aquaculture products, of which 160,000 tonnes
are for export, according to the Can Tho Department of Agriculture and Rural
Development.
Under the city’s
2020 aquaculture development project, the farming area will be divided into
two main sub-areas. The first, including 16,000 hectares in Thot Not
district, a part of Vinh Thanh district and dunes in Hau River, will
specialise in breeding freshwater prawn, tra (Pangasius) fish and other
freshwater fish. The second, covering an area of 10,000 hectares in the
districts of Vinh Thanh, Co Do and Phong Dien will raise catfish and other
freshwater fish.
In addition, the
city will build a fisheries centre capable of supplying two billion shrimp
and fish fry each year in Vinh Thanh district.
To ensure the
quality of its aquaculture products and meet the target, the city will
conduct training courses to encourage farmers and processors to adopt
international food safety standards such as GAP, SGF 1000 CM, HACCP and ISO,
while expanding into foreign markets.
The city also aims
to bring the total number of seafood processing plants to 33 with a total
annual capacity of 192,000 tonnes by 2020.-
Dong Nai
tops nation in GDP growth
The southern
Director of the
provincial Department of Planning and Investment Bo Ngoc Thu said that in the
abovementioned period, the province attracted 913 million USD in foreign
direct investment (FDI), of which more than 700 million USD was disbursed.
The FDI projects
mainly focused on support industry, high technology and environmental
pollution treatment.
Domestic investors
also poured more than 5 trillion VND (235 million USD) into projects in the
province.
To support domestic
businesses, the province disbursed 383 billion VND in loans, of which 72
billion VND went to small and medium-sized enterprises in the
January-September period.
The province is
implementing many large-scale transport projects, including one to upgrade
National Highway No. 51 and one to build the Ho Chi Minh City-Long Thanh-Dau
Giay expressway.
To reach set goals
in the remaining months of this year, Dong Nai will mobilise all resources to
foster investment in infrastructure development, especially large-scale
projects and key transportation systems, continue helping businesses solve
difficulties, and develop agriculture and rural areas.
Int’l
industrial exhibition to open in Hanoi
The Vietnam
International Industrial Fair 2013 (VIIF) will take place from October 16-20
at the Vietnam Exhibition and Fair Centre (VEFAC) in
Covering 6,000 sq
m, the annual fair will draw over 200 Vietnamese businesses and 100 foreign
companies involved in many fields, such as machinery and equipment, mechanical
engineering, electronics, plastic-chemistry and consumer goods production.
Despite economic
difficulties such as bad debt, increasing input costs and macroeconomic
instability, the fair will continue to attract more enterprises, increasing
by nearly five percent year-on-year.
A new feature of
the 2013 fair is a space displaying a project to strengthen the enforcement
of intellectual property rights in
Long An
leads
The southern
province of Long An leads the Mekong Delta region in industrial development
and investment attraction, with 16 industrial parks and 760 registered
projects, attracting a total investment of almost 3 billion USD.
Of the total, there
are 251 foreign projects from 30 nations and territories with capital
totalling 1.7 billion USD.
The fast
development of industrial parks in the province over the past 15 years makes
it one of the country’s five leading provinces and cities in the number of
industrial parks.
The province sees
the operation of 145 foreign enterprises and 215 domestic investors, creating
jobs for over 70,000 Vietnamese workers and almost 1,000 foreigners.
At the parks,
internal and external businesses generated an export value of 428 million USD
and over 50 million USD respectively, contributing over 25 million USD to the
state budget in the 15-year period.
According to
Chairman of the provincial People’s Committee Do Huu Lam, the management
boards of industrial parks give priority to resolving administrative
procedures to facilitate the implementation of investment projects in the
locality.
In the coming time,
Long An will continue to fully tap its potential and advantages, while
accelerating administrative reform, fostering investment promotion and
enhancing cooperation to further encourage socio-economic development.
Can Tho
expands aquaculture as a primary industry
The Mekong Delta
city of
With the expanded
area, the city expects to earn at least one billion USD from an annual
production of 335,000 tonnes of aquaculture products, of which 160,000 tonnes
are for export, according to the Can Tho Department of Agriculture and Rural
Development.
Under the city’s
2020 aquaculture development project, the farming area will be divided into
two main sub-areas. The first, including 16,000 hectares in Thot Not
district, a part of Vinh Thanh district and dunes in Hau River, will
specialise in breeding freshwater prawn, tra (Pangasius) fish and other
freshwater fish.
The second,
covering an area of 10,000 hectares in the districts of Vinh Thanh, Co Do and
Phong Dien will raise catfish and other freshwater fish.
In addition, the
city will build a fisheries centre capable of supplying two billion shrimp
and fish fry each year in Vinh Thanh district.
To ensure the
quality of its aquaculture products and meet the target, the city will conduct
training courses to encourage farmers and processors to adopt international
food safety standards such as GAP, SGF 1000 CM, HACCP and ISO, while
expanding into foreign markets.
The city also aims
to bring the total number of seafood processing plants to 33 with a total
annual capacity of 192,000 tonnes by 2020.
The People’s
Committee of central Thua Thien- Hue province has decided to invest 9 billion
VND to restore and develop its traditional trade villages between 2014 and
2015.
Apart from creating
jobs and improving labourers’ income for the local people, traditional trade
villages help preserve Hue cultural identity and contribute to boost
provincial tourism industry.
In the next two
years, the province will focus on enhancing production capacity of trade
villages and small scale industries, improving product designs and creating
new products to meet market demand.
The province will
also offer management and business skills courses for of production
establishments and enterprises. Besides this, the province will promote
marketing and plan to create 1500 new jobs in rural areas.
In 2013, the Centre
for Industrial Encouragement and Trade Promotion under the provincial
Department of Industry and Trade has carried out 31 projects to foster
industrial development in the locality, thus bringing jobs to about 2,500
labourers. Many incentives have been offered to enterprises and production
units to help them expand production and business.
Thua Thien- Hue has
over 200 traditional trade villages including 88 handicraft villages.
Entrepreneurship
honoured in Vietnam
Vietnam
Entrepreneurs’ Day (October 13) this year will honour 100 exemplary
Vietnamese entrepreneurs who obtained outstanding business achievements, made
major contributions to the state budget, participated actively in social
activities and created a lot of jobs for three years from 2010 to 2012. The
Vietnam Business Forum reports.
Following up Thanh
Giong Awards in earlier years, this year 100 entrepreneurs will be honoured
with title “Exemplary Vietnamese Entrepreneurs” and Thanh Giong Awards 2013.
The award began in 2006 to honour entrepreneurs and businesses of their
contributions, images and trademarks in the economic integration.
Thanh Giong Award,
granted on the recommendations of concerned parties namely ministries,
agencies, localities, is the first award of national scale. The “Exemplary
Vietnamese Entrepreneur” title is honoured by Vietnamese business community
of managers of all economic sectors for their outstanding achievements in
developing businesses, contributing to socio-economic development and
workers’ welfare.
Exemplary
Entrepreneur and Thanh Giong Award is the main event of the celebration of
Entrepreneurs’ Day this year. In the economic recession, the event is a new
endeavour encouraging businesses and entrepreneurs to overcome challenges and
develop new headways to get out of the crisis.
The event is more
meaningful as this year also marks the 50th anniversary of the establishment
of the Vietnam Chamber of Commerce and Industry (VCCI). In 50 years of
development with several achievements, VCCI together with business
associations recommended the Prime Minister to celebrate October 13 each year
as “Entrepreneurs’ Day”. The message “Entrepreneurs - Soldiers in peace time”
initiated by VCCI has greatly inspired entrepreneurs.
VCCI has sponsored
several awards for entrepreneurs such as “Thanh Giong”, “Golden Rose”,
“Corporate Social Responsibility” and others. VCCI has also advised and
participated in the drafting of Resolution “Developing the role of Vietnamese
entrepreneurs in industrialisation, modernisation and international
integration” – the first document of the Party and State on entrepreneurs.
The resolution affirms the role of entrepreneurs as well as viewpoint, policy
and solution to develop entrepreneurs together with workers, peasants and
intellectuals in new era.
Presently, VCCI has
11,000 direct members and over 100,000 associated members, representing most
effectively the interest of business community and entrepreneurs. VCCI has
also established relations with nearly 200 international organisations and
partners to help Vietnamese businesses expand to the world market. VCCI is an
active member International Trade Chamber, Asia-Pacific League of Trade and
Industry, ASEAN Chamber of Trade and Industry as well as world and regional
leagues of employers.
According to VCCI
President Vu Tien Loc, VCCI has successfully involved businesses and
entrepreneurs in national activities developing business environment, economy
and State management. It has in fact become a national organisation
representing and promoting Vietnamese business community in the process of
developing market economy and international economic integration.
On the occasion of
the day this year, in addition to honouring businesses and entrepreneurs,
there are also seminars on pressing issues such as restructuring businesses
in the new conditions.
As the economy and
business community need a modern and unstainable structure, VCCI with its
role of the national organisation of business community will assist
businesses in this endeavour. VCCI must play its advisory role in the
socialist oriented market economy, ensuring an equitable and accountable
business environment, and be fully devoted and professional in business
assistance and promotion activities, especially regarding SMEs, business
linkage, association network and business community, representatives of
enterprises said.
State
budget collection, expenditure tightly managed
The Ministry of
Finance continues to manage state budget collection and spending estimates,
ensuring the balance, Deputy Minister of Finance Vu Thi Mai said at a regular
meeting in
State budget
revenue in September was estimated at 52.8 trillion VND (2.4 billion USD), a
rise of 1.7 trillion VND (or 5.4 percent) against the previous month.
The levy in the
first nine months of 2013 then totalled 543.8 trillion VND, accounting for
66.6 percent of the year’s estimated.
Mai blamed the
deficit on difficulties in domestic sources, which only contributed 64.7
percent of the total estimate.
Total spending from
January to September met 70 percent of the estimate, up 7.4 percent over the
same period last year.
According to the
ministry, only 23 localities nationwide collected taxes as panned while 40
others, including economic hubs such as
In the first half
of this year, the country’s total budget collection reached 356.52 trillion
VND, meeting 43.7 percent of the annual target. The state budget deficit hit
92.39 trillion VND, equal to 57 percent of the annual plan.
A programme to
develop farming based in key farming areas and large-scale animal husbandry
in non-residential areas in Ha Noi for 2011-15 has reportedly achieved
breakthroughs after nearly three years' implementation.
According to the Ha
Noi Farming Development Centre, during almost three years, key farming areas
have been formed within the city, meeting 60-65 per cent of the Ha Noi
market's demand for meat.
In addition, the
capital has strongly developed large-scale farms in non-residential areas,
with over 720 farms for raising pigs and over 2,100 for raising poultry.
In 2012, in
particular, the total production of meat of all types in Ha Noi reached
385,000 tonnes and the breeding values made up 50 per cent of agricultural
production.
The Ha Noi Farming
Development Centre said the capital was leading the country in raising
poultry flocks and animal herds. The total number of cows and buffalos so far
reached 240,000, pigs nearly 1.4 million and poultry reached nearly 19
million.
During the past
three years, Ha Noi has also successfully developed chains of product
distributors and promoted stronger brands for its products, according to the
Ha Noi Farming Development Centre.
Some of the strong
brands of Ha Noi's farming products cited by the centre are the Ba Vi Milk,
which is widely known to consumers nationwide, the Tien Vien eggs with an
average daily output of 70,000 eggs, and the organic pork produced by the Bao
Chau – Soc Son Farm with 10 distribution stores in central districts.
According to Ta Van
Tuong, director of the Ha Noi Farming Development Centre, with the aim to
promote a strong brand of its own, Ha Noi will set up eight more chains for
farming and product distribution to reduce the differences in price between
farms and distributors.
He added that the
city would also need to increase the links between farmers and suppliers of
farming material, animal feed and animal medicine as well as product
distributors, while also ensuring that the city's products meet hygienic
standards.
Local firms
can count on Gov't support
The Government will
continue providing support for local enterprises to overcome difficulties in
production and business due to the economic downturn.
The statement was
made by Deputy Prime Minister Vo Van Ninh said at a Viet Nam Entrepreneurs'
Day celebration yesterday in Ha Noi.
While both the
global and domestic economies have shown signs of recovery, they remain
unstable, Ninh said.
As
The Deputy PM
predicted enterprises would be successful if they seized opportunities,
restructured their production and business activities and improved
competitive ability, management ability and quality of products.
Additionally, the
Government plans to create favourable conditions for enterprises to boost
sustainable development.
The Government has
already offered significant support to enterprises, and the firms have worked
hard, but these efforts were often not enough for them to weather the
difficult period, Loc said.
To solve their
present difficulties, he recommended enterprises build professional
management systems, improve their competitive ability and restructure their
operation.
On the occasion of
Viet Nam Entrepreneurs' Day, the VCCI honoured 100 exemplary Vietnamese
entrepreneurs who obtained outstanding business achievements, made major
contributions to the state budget, participated actively in social activities
and created a lot of jobs from 2010 to 2012.
The award aimed to
encourage the entrepreneurs to overcome challenges and develop new strategies
to get out of the financial crisis.
Stock
market boost expected from TPP
The Trans-Pacific
Partnership Agreement (TPP) was expected to have a great influence on the
Vietnamese economy in general and the stock market in particular.
Its impacts might
be stronger than those when
Some experts said
that
There are currently
12 countries participating in the TPP negotiations, including
In the first eight
months of this year,
Among export
sectors to the
Domestic textile
and garment businesses had rapid revenue growth, but profitability was not as
high as expected.
"Therefore,
small changes in tax rates, exchange and interest rates as Viet Nam joined
the TPP will also strongly impact the profitability of these
enterprises," BIDV Securities commented.
In addition, one of
the most notable in the TPP negotiations was that
Recently, the
Government has urged SOEs to divest from their non-core industries.
"It is a big
opportunity for
Foreign
institutions had expected the divestment of SOEs for long, he added.
"It's their chance to buy cheap assets in a potential market like
Thong revealed that
there were over 40 SOEs forced to divest and make their financial conditions
transparent.
Free care
for car tyres begins
Michelin starts
checking the tyres free of charge in both Ha Noi and
The programme aims
to check about 5,000 cars across
The programme will
start at traffic-dense locations such as Big C Thang Long and Metro in Ha Noi
and Lotte supermarket and Metro An Phu and many others.
It will begin in
Binh Duong and Hai Phong from October 18-22 and Vung Tau and
Industrial
investors given incentives
Tin Nghia
Corporation plans to offer investors at
The IP is located
in
Tan Phu District
has abundant labour resources with low costs particularly suited to
labour-intensive industries such as textiles and garments, leather footwear,
wood production and agriculture.
The Tin Nghia
Corporation, known as one of the biggest companies in
The corporation has
invested in eight industrial parks in Dong Nai and Ba Ria-Vung Tau provinces
that cover a total area of 3,500ha with total investment capital of $4
billion. The industrial parks have attracted nearly 200 businesses.
Central
province wins new FDI
The central
province of Thua Thien-Hue has so far this year attracted five new
foreign-invested projects with a total capital of US$40.7 million and
allowing four others to raise their capital by $58.75 million.
Deputy director of
the provincial Department of Planning and Investment Le Dinh Khanh said local
authorities are striving to facilitate investment to such advantageous fields
as marine ecotourism, sea port services, urban infrastructure, industry,
processing, and education and training.
They are also
applying incentives to investors in the Chan May-Lang Co economic zone in terms
of tax, administrative procedures, land and labour.
Currently the
province counts 69 FDI projects that see an annual growth of 17.2 per cent in
their revenue.
Ha Noi to
host int'l industrial fair
The Viet Nam
International Industrial Fair 2013 (VIIF) will open in the capital on October
16, the Viet Nam Exhibition Trade Fair Co announced yesterday.
The five-day event
will witness the participation of 300 enterprises including those coming from
mainland China, Japan, South Korea, Taiwan and Germany.
VIIF, one of the
biggest industrial fairs in the country, would create opportunities for
businesses to promote investment and trade exchange, particularly in the
industrial sector, between Viet Nam and other countries across the world, the
company said.
On display will be
the latest processing technologies and equipment and spare parts used for
plastic and chemical production, support industries, mining and consumer
production.
IBM
InterConnect 2013 opens in Singapore
Information will
become the new natural resource for the 21st century, IBM's chairwoman,
president and CEO, said at the company's global conference, InterConnect
2013, which kicked off on Wednesday in Singapore.
At the opening
general session of the three-day conference, Ginny Rometty said that 90 per
cent of all data available today had been created in the last two years.
Data has become the
new basis for competitive advantages in every industry and constitutes a vast
new natural resource.
The conference has
attracted 2,500 attendees including clients, business partners, analysts and
information technology leaders from 50 countries and territories in the
world, including Viet Nam.
With the theme of
"A New Era of Smart," the conference is a chance for IT leaders to
gain insight into best practices in the biggest trends in business today,
including cloud computing, mobile, and social and big data.
VDC
launches cloud computing service
The Viet Nam Data
Communication Company (VDC) on Wednesday joined a small group of providers
offering a cloud computing service on the Internet.
Using cloud
computing, users put their data on virtual servers (cloud) instead of storing
them in their computers at home or in office.
The service, called
Cloud VNN, helps customers establish virtual server infrastructure. Users can
monitor and manage the system from any location. It ensures data security and
can be used by banks and enterprises to store vital information.
This enables users,
for example, to save all their email files. It is a huge advantage
considering the growing number of people who have had their emails wiped out
by hackers.
Vinamilk
reform pays off with rising exports
The Viet Nam Dairy
Products Joint Stock Company (Vinamilk) exported VND3.354 trillion of dairy
products in the first nine months of the year.
Vinamilk has signed
export contracts for a whole year with a total value of $230 million.
Between 2008 and
2012, the export growth rate of Vinamilk reached 62 per cent annually.
Currently, Vinamilk
has exported powdered milk, nutrition powder, condensed milk, fresh milk,
soybean milk and yogurt to 26 countries, including the US, Australia, Canada,
Russia, Japan, Thailand, South Korea, Turkey, Iraq, and the Middle East.
To produce higher
quality products, Vinamilk has invested in renovating modern production
chains with imports from Sweden, the US, Denmark, the Netherlands, France,
Switzerland and Germany.
In the coming time,
the company will invest in three new farms in Tay Ninh (10,000 cows), Ha Tinh
(3,000 cows) and Thanh Hoa (20,000 cows).
Vinamilk has also
bought 460 tonnes of raw milk from 5,000 local households that own 65,000
cows.
It has purchased
more than 60 per cent of its raw materials from farmers in Viet Nam.
Housing
support package lifts loans
By September 30,
commercial banks registered to provide VND203 billion (US$9.67 million) in
housing loans to about 620 individual customers as part of the Government's
VND30 trillion ($1.43 billion) property assistance package.
The committed value
nearly doubled that at the end of August. The State Bank of Viet Nam reported
on Thursday that Vietinbank registered VND53 billion, Vietcombank VND79.4
billion, BIDV VND50.1 billion, Agribank VND12.8 billion and Mekong Housing
Bank VND7.8 billion.
The banks disbursed
a combined value of about VND142.46 billion ($6.78 million), also twice as
much as August's figure.
Within the support
programme, BIDV registered a loan value of VND658 billion ($31.3 million) and
Agribank committed VND90 billion ($4.28 million) for businesses buying or
renting houses. They disbursed VND54.8 billion ($2.6 million) in total.
Dung Quat
refinery spouts profit
The Dung Quat Oil
Refinery Plant, which is operated by the Binh Son Refining and Petrochemical
Company (BSR), sold 5 million tonnes of oil and gas products in the first
nine months of this year.
CEO Nguyen Hoai
Giang told Vnexpress that the plant earned over VND112 trillion (US$5.3
billion) in revenue and an after-tax profit of VND2.3 trillion ($109
million). It contributed almost VND20 trillion ($952 million) to the State
coffers in the period, surpassing its yearly target of VND200 billion ($9.5
million).
If it operated
continuously in the coming months, the plant could reach a processing
capacity of 6.5 million tonnes and make a profit of more than VND3 trillion
($142 million) this year, said Giang.
He said this was
the first year the BSR had targeted a profit over VND2.1 trillion ($100
million) after receiving a preferential finance policy from the Government.
Giang said the BSR
would continue to ask JGC Corp of Japan to study the second stage of the Dung
Quat Oil refinery expansion and confirmed that a detailed feasibility study
would be approved this November to send to the Government for a final
decision.
PetroVietnam has
worked with Russian GazpromNeft energy group about the possibility of
co-ordinating in the field of oil and gas, which is mainly related to
investment co-operation in the Dung Quat oil refinery.
The Russian partner
has proposed to expand and raise the plant's designed capacity from the
current 6.5 million tonnes to 12 million tonnes a year.
The related
documents are expected to be signed during the visit of the Russian Prime
Minister to Viet Nam by the end of this year.
The plant is
currently refining sweet crude oil produced in South East Asia. Following the
completion of the expansion, the refinery will process 50 per cent of Middle
East sour crude oil and 50 per cent of sweet crude oil.
The expansion
project will add a crude pre-flasher, vacuum distillation unit, mercury
removal unit and other facilities. Existing units of the refinery will be
upgraded to process the Middle East sour crude oil.
In the four years
of the refinery's operation, BSR has sold over 21 million tonnes of product.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Ba, 15 tháng 10, 2013
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