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BUSINESS IN BRIEF 26/10
Rising
food costs bump up CPI in major cities
Consumer
price indices (CPI) in the country's two largest cities continued to increase
in October due to surging food prices after floods and heavy rain.
Ha Noi
saw an increase of 0.57 per cent over the previous month, while the index for
This
month's CPIs for Ha Noi and
Ten
out of 11 commodity groups saw a growth in price compared to the previous
month with food and restaurant services posting the strongest rise of 1.01
per cent.
Housing,
electricity, water and building materials saw an increase of 0.7 per cent.
Food prices rose 2.96 per cent.
The price
of clean water started to go up from the beginning of this month,
contributing to the increasing CPI.
Prices
of garments and textiles also slightly increased as the north anticipated the
coming of winter.
Telecommunications
and education sectors retained their rise over the previous month.
Transport
was the only group to post a decrease, which was 0.24 per cent.
In
Food
and restaurant services took the lead with an increase of 0.41 per cent,
followed by garments and shoes (up 0.29 per cent), education (0.22 per cent)
and housing, water and building materials (0.19 per cent). Prices of
transport, telecommunications, entertainment, tourism and other services
declined.
Many
new cars, concept vehicles at motor show
The
ninth
With
the message ‘Together to Success’, the Vietnam Motor Show 2013 has the
participation of 15 auto trademarks.
Among
these, Ford, GM, Honda, Mercedes-Benz,
This
year’s motor show showcases imported and luxury cars of several leading auto
manufacturers. However, names which have been present in the Vietnamese
market for a long time like Truong Hai Kia, Hyundai Thanh Cong, Vinaxuki and
Porsche do not attend the show.
In
addition to new cars introduced for the very first time in
Besides,
at the show visitors can also look for information about supporting
industries and auto accessories of various brands as well as banking and
insurance information.
Metelo
Arias, general director of Ford
The
organizers expect to attract around 150,000 visitors to the Vietnam Motor
Show 2013 which will last until Sunday at Saigon Exhibition and Convention
Center in HCMC’s District 7.
Vietnam
targets green, sustainable economy
Low-carbon
development is the core issue of the National Green Growth Strategy, heard a
seminar.
To
realise the goal, experts are gathering at a seminar which opened on October
24 in the Red River Delta
Based
on this, experts will work out plans and design an action programme to speed
up the implementation of the Low Emission Development Strategies (LEDS), for
which
Co-organised
by
Textile,
garment equipment exhibition opens
The
Viet Nam International Textile and Garment Industry Exhibition opened
yesterday in
The
four-day event also includes a Textile and Apparel Accessories fair.
Exhibitors
come from 12 countries and territories such as
The
companies are marketing their products at 360 booths, products including
machines for spinning, knitting, yarn processing, cloth cutting, sewing,
laundry, chemicals and garment accessories.
"The
textile and garment industry plays an increasingly important role in the
country's industrialisation, contributing to economic development and meeting
domestic and export demands, as well as promoting the development of other
industries," said Phan Thi Thanh Minh, head of the Southern Operation
Department under the Ministry of Industry and Trade.
"The
companies have real demands for advanced machinery and stable material
sources to ensure sustainable growth," she added.
The
organisers, the Viet Nam Exhibition and Advertising Co and
The
event venue is at the Tan Binh Exhibition and Convention Centre,
SBV
restarts USD buy-back scheme
The
State Bank of
The
manager, whose bank sold a considerable volume of the foreign currency to the
central bank, said that the amount was quite large.
Investment
institutions also reported that commercial banks had sold the foreign
currency for the past few weeks.
A
senior official from the central bank confirmed the information but declined
to disclose the purchased volume.
However,
the official said the forex liquidity of the whole banking system was still
positive, explaining that the central bank bought the greenbacks only from
commercial banks whose dollar liquidity was very good, ensuring that the
sales would not cause a supply shortage.
Industry
insiders said that the purchase helped give the central bank a new supply to
offset the dollar sources spent on gold imports and stabilising the forex
market in June.
The
move was made when the exchange rates fell rapidly and supply was favourable.
Yesterday
dollars were being traded at VND21,075 by commercial banks, below the bid
price of VND21,100 quoted by SBV's Central Banking Department.
In
August, as exchange rates rapidly declined, the Central Banking Department
raised the bid price from VND20,826 to VND21,100.
From
late August to early October, SBV did not buy foreign currency despite good
liquidity in the market and the relatively stable exchange rates.
According
to Government reports released this week at the National Assembly meeting,
the country's foreign currency reserve climbed to the equivalent of 12 weeks
of imports in late 2012 to 2013, against 6.5 weeks in 2011 and six weeks in
2010.
If
calculated on the average week of imports in the first nine months this year,
the country's foreign currency reserves could reach a record high of US$32
billion.
Auto
show strikes upbeat note
At
least 15 automobile brands, many providers of a wide range of support
industry products and services, banking and insurance firms are participating
in the 5-day Viet Nam Motor Show that opened yesterday at the Saigon
Exhibition and Convention Centre in District 7.
Le
Duong Quang, Deputy Minister of Industry and Trade, said that the show has
brought to
It has
also aided local automobile producers in their efforts to increase their
made-in-Viet
The
exhibition, one of the most prestigious and awaited events of the year for
the automobile industry, focuses this year on products which are convenient,
economical, eco-friendly and user-friendly, organisers said.
They said
the show is also a chance for auto brands to offer a range of services and
sales promotions to boost the Vietnamese automobile industry.
The
exhibition, which covers nearly 9,000sq.m, includes many booths with
impressive products and interesting interactive activities.
Toyota
Motor Viet Nam is showing off its product line-up including special editions
of six favoured models, putting forth a more youthful, sporty image while
stressing additional safety equipment.
Concept
vehicle Toyota Fun-Vii heralds a not-too-distant future where people, cars
and society are interlinked.
The
most luxurious
Meanwhile,
Mercedes Benz celebrates its "vision accomplished" concept with 18
cars, the largest fleet at the Motor Show, including newest line-ups.
The
company has announced that it has already met its 2013 sales target despite
the sluggish state of the market.
At the
BMW booth, visitors can see numerous hi-end technologies that have been
integrated into models like the BMW 4 Series Coupe and BMW5 Gran Turismo.
Suzuki,
meanwhile, introduces its Swift, "star models" that it hopes will
contribute to making it stand among the 10 passenger carmakers in the world.
Well-known
auto accessory brands like Michelin and Robert Bosch are also participating
in the show.
Michelin,
120-year French tyre manufacturer first time introduces their Primacy 3 ST
product for both medium and big automobile at the show.
Organisers
are expecting to attract 150,000 visitors this year, compared to 120,000 in
2012.
Chinese
firms to display produce
Around
80 enterprises from
The
show will run between October 28-31 and feature farm produce, food
production, textile, health, energy and electronic items.
The
showcase aims to promote bilateral exchanges on culture, trade, investment
and technology, between
EU
sends funding for local SMEs
A
delegation from the European Union (EU) on Monday signed a deal to provide
EUR4 million (US$5.5 million) for the Center for Small and Medium Enterprises
European in
According
to the delegation's ambassador, Franz Jesse, economic growth and integration
in
The
vice president of the European Commission, Antonio Tajani, will head the
business delegation to
Lam
Dong inks deal with KCCI
According
to Young Soo Jung, President of Commerce and the Korea Chamber of Commerce
and Industry (KCCI) in
Promoting
Vietnamese trademarks
Policymakers
and economists have advised Vietnamese businesses to have new strategic
thinking about the building of trademarks in the context of international
integration.
Nguyen
Manh Hung, Vice President and Secretary General of the Vietnam Standards and
Consumer Rights Protection Association, says the open-door economic policy
provides many opportunities for foreign products to penetrate the domestic
market. Success stories of FPT and Trung Nguyen (
FPT
Group Vice President Nguyen Huu Thai Hoa insists that businesses need to be
self-reliant in their approach to markets in the world.
Vissan
Company General Director Van Duc Muoi emphasises that
Muoi
proposes restructuring the agricultural sector to promote regional trademarks
and lay a firm foundation for economic and business growth in the future.
Economist
Bui Kien Thanh says
The
Government has established an export coordination centre to assist domestic
businesses in their approach to international economic groups.
Thanh
says
Thai
Hoa notes that many big businesses remain optimistic about their capacity to
weather the storm. Even when they are pushed to the brink of bankruptcy they
will find new ways.
National
Assembly Economic Committee Vice Chairman Nguyen Duc Kien says national
economic growth must be closely associated with the development of
businesses. The Government should find proper solutions to support them in
playing the game, according to the rules of the market economy.
Firms
fret over stricter receipt printing controls
Many
local companies have expressed concern that the Ministry of Finance’s
proposal for tightening the VAT receipt printing rule will throw them into a
difficult position.
Tran
Anh Huy, director of Anh Huy Company, an animal feed material producer in
HCMC, complained that the proposal that the printing of VAT receipts should
be allowed based on a firm’s chartered capital was strict. Chartered capital
is not a factor that decides how many receipts local enterprises need, Huy
said.
Many
enterprises with small chartered capital have strong demand for VAT receipts
due to their busy trading activities, Huy said. The proposed regulation that
only companies with at least VND15 billion in chartered capital each could
print receipts on their own could not help tackle fraud, he added.
Huy
suggested that only new companies and those changing business addresses
regularly should be certified by tax authorities before printing VAT receipts
and purchasing such papers.
Regarding
VAT receipt fraud, Huy said there should be a data center which can help
detect fake receipt issuance.
Nguyen
Thai Linh, general director of Lien Son Computer Paper Company as a
veteran VAT receipts issuer, said the number of enterprises selling
their VAT receipts as reported by the ministry is small. “As far as I know,
VAT receipt sellers often use others’ names to avoid being detected by
authorities. A stricter rule applicable to all will affect the entire
corporate sector,” he stressed.
The
proposal was presented by Cao Anh Tuan, deputy director of the General
Department of Taxation, at a press briefing of the finance ministry last
week. Tuan said the Government had agreed to amend Decree 51 by letting
companies with chartered capital of over VND15 billion each print their
receipts.
The
revision is expected to prevent enterprises from taking advantage of the
prevailing law’s shortcomings to dodge tax payments.
Thai
Binh calls for
The
Red River Delta
Chairman
of the provincial People’s Committee Pham Van Sinh made the call during a
working session on October 23 with Indonesian Ambassador to Vietnam Mayerfas
who visited the province to study opportunities for cooperation.
Chairman
Sinh gave the ambassador a brief introduction on the province’s situation as
well as its achievements in economic development over the past time,
especially its strength in industry and agriculture, specifically rice
variety production.
The
two sides agreed to set up twin relationship between Thai Binh and an
Indonesian province to expand long-lasting cooperation.
The
Indonesian Ambassador invited the provincial leaders and businesses to make a
field trip to his country in the earliest time possible.
Hai
Phong ranks third in FDI attraction
The
northern port city of
The
figure represents a 65.12 percent increase from the same period last year,
said Vice Chairman of the municipal People’s Committee Dan Duc Hiep.
Notably,
the LG Electronics Vietnam Ltd. Co., an affiliate of the Republic of
Korea-based LG Group, has poured US$1.5 billion into the city’s Trang Due
industrial park.
To
achieve such outcome, Hai Phong has regularly streamlined its administrative
procedures and well performed the “one-door” mechanism.
Meanwhile,
the Hai Phong Economic Zone Authority has renovated investment promotion
activities, organised meetings to call for investment both at home and
abroad, and made good use of support from ministries and central agencies and
It has
also bettered the quality of public administration services while caring for
the need of businesses operating in industrial parks, thus advertising the
province’s investment environment.
The
authority is managing the Dinh Vu – Cat Hai Economic Zone and 19 industrial
parks in Hai Phong.
Vietnamese
economy ranked fifth in regional bloc
ASEAN
Statistics (ASEAN Stats) ranks
It
identifies
The
country’s 7.3 percent annual average GDP growth rate between 2001–2010 was
higher than that of
Despite
slight slides backwards in recent years,
ASEAN
Stats warns the Vietnamese economy faces numerous difficulties but economic
experts have more positive assessments.
The
Asian Development Bank (ADB) forecasts despite a general diminishing of Asian
economic growth,
Strategy
Consulting Group PwC predicts the Vietnamese economy will climb to 28th in
the world by 2025. It places it among the 20 emerging economies enjoying the
highest growth rates.
Additional
10 million EUR for innovation in Vietnam
An
October 23–24 forum in
The
forum, convened by the Finnish Embassy and the Ministry of Science and
Technology, focused on the Vietnamese and Finnish Governments’ official
development assistance (ODA) project designed to foster business innovation.
The
IPP encourages technology upgrades, management improvements, developing new
product ranges, and creative marketing. It supports small and medium-sized
enterprises (SMEs) working in information technology, bio-technology,
engineering, and green energy, prioritising projects contributing to poverty
reduction.
Minister
of Science and Technology Nguyen Quan said the two-day forum allows
Vietnamese and Finnish policy makers, scientists, and businesses to
consolidate links, deepen mutual understanding, and discover what each party
can bring to Vietnam’s national renovation and economic restructuring.
He
emphasised how heavily
Finnish
Ambassador to Vietnam Kimmo Lahdevirta said similar IPPs are underway in
Of the
figure, about US$9.6 billion has been disbursed, representing a year-on-year
increase of 6.4%.
Most
FDI is focused on the manufacturing and processing sectors (nearly US$14.9
billion), and the electricity distribution and production industry.
As
many as 1,050 new projects have been licensed with a total capitalization of
US$13.1 billion, 79% higher than last year’s level, while the amount of
additional investment was valued at US$6.1 billion.
The
northern province of Thai Nguyen has taken the lead in FDI attraction
(US$3389.1 million), followed by the southeastern province of Binh Thuan
(US$2029.6 million), the central province of Binh Dinh (US$1009.5 million),
HCM City (US$8,44.2 million), the northern province of Hai Duong (US$613.3
million), and the southern province of Binh Duong (US$521.1 million).
The
JICA
supports Quang
The
central Quang Nam province’s People’s Committee has co-ordinated with the
Japan International Cooperation Agency (JICA) to implement a project on
building new products and trademarks and distributing farm and handicrafts products
at roadside stations in the province.
The
project was funded by JICA for three years (2013-2016) with a total
capitalization of nearly JPY 20 million. Accordingly, the Project Management
Board will conduct a feasibility survey into local craft villages and
production establishments.
Japanese
experts will share experiences in developing trademarks and consumer goods
and taking full advantages of natural resources available to stimulate the
domestic consumption power.
Haruko
Hamada, head of the Product Development Research Institute in
Vietnam-UK
trade picks up
Bilateral
trade turnover between
Of the
total figure,
Among
its key items were audio and visual equipment, mobile phones, components of
data processors, digital and automatic machines, coffee, footwear, interior
wooden products and plastic bags.
This
year’s total bilateral trade turnover between the two countries is estimated
at some US$5.12 billion, up 17% from last year’s figure.
Vietnamese
Embassy Trade Councilor Nguyen Thi Hong Thuy said that due to the negative
impact of global economic downturn, two-way trade exchange continues to
increase sharply with an average annual growth rate of over 30%.
She
put the modest growth down to the weak competitiveness of Vietnamese goods
compared to those coming from
In
addition, many Vietnamese are more focused on developing markets in the Asian
region than on potential opportunities in the
Last
year,
October
CPI rises in two major cities
October
consumer price indexes (CPI) in
According
to the Municipal Statistics Office, the increase was attributed to price
hikes in eight out of eleven baskets of commodities.
The
highest price rise, 1.01 percent, was recorded in restaurant services.
The
prices of housing, power, water and fuel rose by 0.7 percent due to the
change in the price of clean water from October 1.
Meanwhile,
the telecommunication and education sectors did not experience any price
hike.
This
month, transportation was the only sector to record price decreases, at 0.24
percent.
As a
result, the city’s CPI in the first ten months of this year increased 6.25
percent over the same period last year.
The
increase was recorded in 10 out of 11 groups of commodities, with the
exception falling in the postal service-telecommunication group, which
dropped by 0.18 percent.-
Meanwhile,
Ho Chi Minh City’s consumer price index (CPI) in October increased by 0.17
percent against the previous month and 4.89 percent year on year.
According
to the municipal Statistic Office, the increase was attributable to price
hikes in seven out of eleven groups in the commodities basket.
The
highest price rise, 0.41 percent, was recorded in food and restaurant
services, pushed up by a 0.85 percent increase in the cost of meat and
vegetables due to storms and flood.
However,
the rice price has decreased by 0.19 percent, contributing to a total
decrease of 3.64 percent from the beginning of this year due to impact of
gloomy rice export markets.
The
prices of transportation, telecommunication, culture-entertainment and other
commodities and services also saw declines.
This
month, the price of gold dropped by 1.83 percent over last month and 20.24
percent against December last year while the USD price fell by 0.1 percent
against the previous month but up 1.33 percent year-on-year.
Promoting
Vietnamese trademarks
Policymakers
and economists have advised Vietnamese businesses to have new strategic
thinking about the building of trademarks in the context of international
integration.
Nguyen
Manh Hung, Vice President and Secretary General of the Vietnam Standards and
Consumer Rights Protection Association, says the open-door economic policy
provides many opportunities for foreign products to penetrate the domestic
market. Success stories of FPT and Trung Nguyen (
FPT
Group Vice President Nguyen Huu Thai Hoa insists that businesses need to be
self-reliant in their approach to markets in the world.
Vissan
Company General Director Van Duc Muoi emphasises that
Muoi
proposes restructuring the agricultural sector to promote regional trademarks
and lay a firm foundation for economic and business growth in the future.
Economist
Bui Kien Thanh says
The
Government has established an export coordination centre to assist domestic
businesses in their approach to international economic groups.
Thanh
says
Thai
Hoa notes that many big businesses remain optimistic about their capacity to
weather the storm. Even when they are pushed to the brink of bankruptcy they
will find new ways.
National
Assembly Economic Committee Vice Chairman Nguyen Duc Kien says national
economic growth must be closely associated with the development of
businesses. The Government should find proper solutions to support them in
playing the game, according to the rules of the market economy.
Exports
to hit 131 billion USD in 2013
Deputy
Minister of Industry and Trade Tran Tuan Anh told representatives of business
associations and exporters in the southern region recently that exports
remained a silver lining in the country’s economic panorama as its turnover
amounted to 96.27 billion USD in the first nine months of this year, up 15.5
percent year-on-year, despite narrowed markets, falling prices and production
difficulties.
The
industrial and processed products made up 70 percent of the country’s total
exports as they earned 67.44 billion USD, a 26.8 percent rise over the same
period last year.
Mobile
phones remained the top foreign currency earner, bringing home 15.5 billion
USD, a year-on-year growth of 19.9 percent. It was followed by garment, with
13.1 billion; footwear, 6 billion; and wood and wooden products 3.87 billion.
According
to the Vietnam Leather and Footwear Association (Lefaso), the target of an
export turnover of 9.5-10 billion USD this year is within its reach.
Nguyen
Van Tuan, Deputy General Secretary of the Vietnam Textile and Apparel
Association (Vitas) forecast an 18.5 billion USD export revenue for the
industry in 2013 as orders are large.
However,
the export of agro-seafood products faced a lot of difficulties due to the
global economic downturn. In the nine-month period, the country’s coffee
exports reached only 1 million tonnes, down 23.4 percent year-on-year.
Rice,
a key export of
According
to the Ministry of Industry and Trade (MoIT), although the world economy has
shown signs of recovery, declining demand and increasing protectionism have
caused difficulties for Vietnamese exporters in expanding their markets and
seeking partners.
Therefore,
the MoIT and the Ministry of Planning and Investment have submitted to the
Government the scenario for next year’s exports with a turnover of 144
billion USD, an increase of 10 percent.
This
is a big challenge that requires concerted efforts by all ministries,
agencies, associations and businesses, said Anh.
He
suggested ministries and agencies focus on solving capital and interest rate
issues for producers and exporters while building mechanisms and policies to
support agro-seafood consumption.
It is
necessary to enhance the control of the quality of exports in order to
improve the prestige of Vietnamese products in the world market, he added.
Hanoi
works to develop breeding sector
Hanoi
has focused on developing large-scale breeding cooperatives in a bid to
ensure food quality and hygiene and assist farmers in production and
consumption.
In
addition to providing knowledge and information on breeding for farmers, the
municipal Department of Agriculture and Rural Development has worked to
foster linkage between them and local enterprisess, developing material areas
and increasing distribution and consumption channels for the products.
As
many as 78 distribution points have been set up and operated effectively in
the city.
Hanoi
now has a total of nine breeding cooperatives located mainly in suburban
districts.
Greening
industrial production in Vietnam
Along
with many action programmes such as the National Target Programme on Energy
Saving and Efficiency, Environmental Industry Development Project until 2015
with a Vision Towards 2020, the Cleaner Production (CL) Strategy until 2020
was also promoted in industries, with a view to green and sustainable
industrial development. Report by the Vietnam Economic News.
According
to Deputy Minister of Industry and Trade Le Duong Quang, the ministry, as a
state agency in charge of industrial and commercial management, in recent
years has developed and implemented numerous programmes and projects to
promote industrial production and trade to develop sustainability, such as
the Environmental Industry Development Project until 2015 with a Vision
Towards 2020 and Bio-fuel Development Project until 2015 with a Vision
Towards 2020. The programmes and project have contributed significantly to the
transformation of the production and changing consumption habits of
industrialised products, reduction of waste into the environment while making
the most use of natural resources, creating better working conditions for the
workers while increasing productivity, improving the competitiveness of
industrial products, and promoting green and sustainable industrial
development.
It is
estimated that there have been more than 1,200 businesses across the country
applying cleaner production solutions. The ministry has organised nearly 200
CP training sessions and workshops attracting more than 11,000 participants,
contributing to raising CP awareness for domestic businesses and related
organisations. In particular, more than 20 provinces and cities nationwide have
prepared CP action plans for implementing the CP strategy in industry and all
departments of industry and trade are capable of guiding and counseling on
the application of cleaner production in industry.
Many
businesses have taken initiatives to apply CP solutions through pollution
control at the source and take advantage of other business waste as raw
materials. For example, to become an eco-industrial park or environmentally
friendly industrial park, Bien Hoa 1 Industrial Park has focused on waste reduction
at source, and reusing and recycling waste; waste exchange inside and outside
the industrial park and end of pipe treatment of waste. Through a survey in
53 manufacturing companies in Bien Hoa 1 Industrial Park, 14 companies have
applied processes to reuse waste products and waste materials from their
production lines; five companies often exchanges waste with waste collectors
outside the park; and one company has applied CP solutions.
According
to Quang Nam province’s Department of Industry and Trade, some 90 percent of
industrial production units and 95 percent of management units in the
province have learnt about CP solutions. The province has incorporated a CP
promotion program into the strategy of environmental protection and pollution
control. CP activities have always been maintained after the CP in industry
component ended in 2011. Through CP solutions, industrial enterprises in the
province have reduced five percent on raw materials and 30 percent of
emissions.
As
Vietnam is gradually developing renewable energy projects, with limited use
of new energy sources and applying solutions to energy efficiency and savings
in the sectors of commerce, industry and services, the initial CP results
have contributed significantly to its roadmap to the green and sustainable
industrial development.
Data
reported at a workshop held in Hanoi on September 18 by the Vietnam
Environment Administration showed that the content of particulates around
most industrial zones (IZs) exceeded the allowed limit (in some places it was
found to be three or four times higher than the allowed limit). Pollution is
caused mostly by dust, carbon dioxide (CO2), sulfur dioxide (SO2) and noise,
leading to serious degradation of the environment and directly affecting
socioeconomic development results as well as human health.
Solid
waste is also a matter of concern. Statistics show that IZs in Vietnam
discard an average of several ten thousand tonnes of solid waste each day or
over three million tonnes each year. The index is growing along with
increases in the fill-up ratio of IZs. It is forecasted that the total amount
of solid waste from IZs would reach 6-7.5 million tonnes by 2015 and 9-13.5
million tonnes by 2020.
Environmental
pollution caused by wastewater is even more serious. Currently, most IZs lack
central wastewater treatment stations. The amount of wastewater from IZs in
the Southeastern region accounts for 49 percent of the total amount of
wastewater from all IZs nationwide, while only 66 percent of the IZs have
central wastewater treatment stations. Many IZs have come into operation but
still lack wastewater treatment systems. Some IZs already have wastewater
treatment systems but have yet to put them into operation. In some IZs, the
wastewater treatment system has been ineffectively operated or has degraded.
It is estimated that about 70 percent of wastewater from IZs runs directly
into the environment without any treatment.
Experts
attributed this situation mostly to the limited public awareness about
environmental protection and protecting the environment of IZs in particular.
In their opinion, the community is yet to appreciate the important role of
the environment as well as the sustainable relationship between production
activities and the lives of workers in IZs as well as between the IZs and
surrounding areas. Many IZs attract investment and build infrastructure
without following the design of investment projects. They ignore building
central wastewater treatment systems and their investment in water drainage
facilities is inadequate.
Notably,
the regulations on environmental protection in IZs are still lacking. There
are no specific regulations regarding environmental pollution control in IZs.
The regulation on environmental assessment of projects based in IZs has been
slowly revised and lacks strict sanctions. Legal documents which are applied
to monitor the treatment of wastewater in IZs remain unclear. Most
environmental incidents happened due to the lack of seriousness by businesses
in implementing environmental protection commitments. Many businesses have
eluded environmental inspectors. The economic recession in recent years has
been an obstacle to efforts by firms to invest in environmental protection.
Environmental inspection activities have yet to meet practical demand.
The
National Assembly Standing Committee held a meeting on September 19, 2013 to
collect opinions on draft amendments to the Environmental Protection Law. The
National Assembly’s Ethnic Council Chairman Ksor Phuoc said that to improve
the situation, the state must apply a mechanism that encourages all people to
take part in environmental protection activities. In his opinion, it is
necessary to bring into play the role of the people, government officials at
different levels and sociopolitical organizations in supervising the
implementation of environmental protection policies and regulations in
localities.-
Vietnamese,
Algerian businesses seek to boost partnership
As
many as 100 businesses operating in various fields participated in a
Vietnam-Algeria business forum in Algiers on October 20.
At the
event, Deputy Minister of Industry and Trade Tran Tuan Anh introduced
Vietnam’s investment policies and outlined the country’s strengths and
potential in producing, processing and exporting agricultural and aquacultural
products.
He
said businesses from both countries can exploit the opportunities on offer by
boosting their trade partnership for mutual benefit.
Updating
participants on the major features of investment and the market situation in
Algeria, Ferroukhi Lyes, Director General of the Algeria National Investment
Development Agency, stated that Vietnam can be a development role model to
Algeria.
He
said the Algerian Government is laying a firm foundation to build sustainable
industry, striving to get rid of its oil-based economy and rethinking its
export policies to expand into new and promising markets.
During
their stay, Deputy Minister Anh and his delegation held working sessions with
the Algerian Ministries of Foreign Affairs, Industry and Investment Promotion
and Commerce.-
Environment
industry development discussed
The
Ministry of Industry and Trade (MoIT) organised a conference on the
development of Vietnam’s environment industry on October 18 in Hanoi,
attracting the participation of experts, scientists and representatives from
many enterprises.
Addressing
the event, Deputy Minister Le Duong Quang underscored the important role the
environment sector plays in the development of the country’s industry in the
current period.
He
said the conference is a good chance for all parties to foster their
connectivity with a common target of protecting the environment and boosting
the country’s economy.
According
to the Research Institute for Industrial Strategies and Policies under the
MoIT, Vietnam now has 238 industrial parks with 105 out of the 152 factories
installing their waste water treatment systems.
Six
out of 63 provinces and cities nationwide have their own waste water
treatment plants, while 12 out of the 20 water processing projects have
become operational with a total capacity of treating 415,000 cubic metres per
day, the institute said.
Currently,
16 plants nationwide can process 3,000-4,000 tonnes of waste water every day,
meeting about 15 percent of the total need.
The
institute also proposed a number of measures to develop the environment
industry, including the boosting of the service sector, associating treatment
and recycling, developing equipment to serve the waste treatment sector, and
improving the efficiency of the recycling work.
Participants
also gave their opinions to the legal mechanisms to develop the environment
industry.-
Vietnam
striving to develop modern retail industry
Vietnam’
retail sector, with a breath of fresh air from foreign retail distributors,
has initially proved its change to better.
The
total retail sales of goods and services in 2011 reached over 2 trillion VND
(90 billion USD), a year-on-year increase of 24.2 percent despite the
economic difficult condition.
At
present, there are 650 supermarkets in 59 of the 63 provinces and cities
across the country and 117 shopping centres in 32 provinces and cities. The
number of newly established supermarkets and shopping centres after five
years of joining the World Trade Organisations (WTO) from 2007 has increased
by an average of 20 percent and 72 percent compared to the 2002-2006 period,
respectively.
In
addition, thousands of speciality shops and convenience stores have joined
the chain nationwide.
The
country’s retail industry has improved its position in the national economy
with a contribution of over 14 percent of GDP and employment. Of this, the
retail sector has contributed over 80 percent with many big names leading the
national retailers such as Intimex, Saigon Coop.Mart, Fivi Mart and many
other foreign retailers such as Big C and Lotte.
Although
Vietnamese retail sales have seen rapid growth, the path to Vietnam’s retail
industry is still long ahead and the sector has not yet entered a fierce
period.
The
Association of Vietnam Retailers currently focuses on building a modern and
effective retail industry to contribute to the country’s economy as well as
consumer benefit.
Infrastructure
boost brings HCM City real estate sheen
Infrastructure
works that are under construction and will help ease congestion to the
eastern part of Ho Chi Minh City are expected to abet property development
there, according to market observers.
Infrastructure
is always a key factor in real-estate development, and several projects in
the eastern districts of 2, 9 and Thu Duc are on the verge of completion.
Sai
Gon Bridge 2, for instance, is due to open to traffic in early November,
significantly contributing to easing congestion and shortening the travel
time from the eastern part to the city centre.
Connecting
District 2 with Binh Thanh and built next to the existing Sai Gon Bridge , it
was completed on September 12 after a year and a half of construction.
The
six-lane, 1.5 trillion VND (65,000 USD) bridge is 987.3 metres long and 23.5
metres wide.
Besides,
the expansion of the Hanoi Highway from the new bridge to the Dong Nai Bridge
in Bien Hoa and the ongoing construction of the city's first metro route have
also helped create a buzz around property projects in Districts 2, 9 and Thu
Duc, especially along this route.
They
include Thao Dien Pearl, Tropic Garden, the Vista, the Estella, Imperia An
Phu, and Cantavil Premier.
A
four-lane steel fly-over recently built at the Thu Duc crossroad has helped
ease traffic from HCM City to Bien Hoa and Dong Nai, benefiting real-estate
projects far away from the city centre, especially low-cost ones.
The
developers of many property projects in District 9 are busily preparing to
attract customers, with many roads in this area being upgraded and expanded.
Many
other land projects in Bien Hoa and Long Thanh are waiting for the Long
Thanh-Dau Giay Highway to be finished in late 2014.
Cheap
housing fair draws thousands
The
second trade show of cheap social housing in Hanoi took place from October 18
to 20, attracting thousands of potential home buyers.
Deputy
Minister of Construction Nguyen Tran Nam said the event made the real estate
market more transparent by connecting sellers with buyers.
The
property sector plays a very important role in the market-oriented economy,
he explained, so the current frozen market hugely affects the country's
economic growth and many other industries.
The
organising board received sales registration for more than 2,000 social and
1,500 commercial housing projects from property developers, as well as more than
2,000 registrations from potential home buyers.
Housing
products to be introduced at the show cost from 9 million VND (around 428
USD) to 12 million VND (570 USD) per square metre.
The
show was jointly organised by the Ministry of Construction and real estate
agencies.
Gentraco
- a leading rice exporter of Vietnam
Gentraco
Corporation, based in the Mekong Delta city of Can Tho, has retained its
position as one of the top five rice exporters of Vietnam for the last
decade.
In the
first nine months of 2013, Gentraco exported 300,000 tonnes of rice (60
percent of which was of high quality) to Asia, Africa, America, Europe and
Oceania, 133,000 tonnes more than last year.
The
firm expects to fulfil its target of 400,000 tonnes by the end of this year
and nearly 3.7 trillion VND (174.8 million USD) in revenue, 749 billion VND
(35.7 million USD) higher than its takings in 2012.
Gentraco’s
high-quality rice products like Co Trang, Miss Can Tho, Ngoc Dong and Ngoc Do
are sold in 80 supermarkets in Vietnam and a number of chains in EU
countries, the US and Australia. Sales average 750 tonnes per year.
For
this, the exporter has invested in advanced production lines and warehouse
facilities, as well as zoned 7,000 hectares in districts of Can Tho, Soc
Trang and Kien Giang provinces for the cultivation of recognised varieties.
It has also given financial support to farmers and bought paddy rice at
reasonable prices.
Employee
wellbeing is also in the company’s attention, with an average per capita
monthly salary of 7.3 million VND (347.6 USD) together with other allowances.
In
2012, Gentraco was named as one of the exemplary businesses in the Mekong
Delta by the Vietnam Chamber of Commerce and Industry and a prestigious
exporting enterprise by the Ministry of Industry and Trade.
1,120
MW of electricity put into use in nine months
The
Electricity of Vietnam (EVN) has put into operation five out of six turbines
of the Ban Chat hydropower, Nghi Son 1, Quang Ninh 2 and Hai Phong 2
thermoelectric plants with a total capacity of 1,120 MW.
Progress
has been ensured in many other important power projects, including Lai Chau,
Trung Son, Huoi Quang, Song Bung 4 and Song Bung 2 hydropower, Ninh Thuan
nuclear power, Mong Duong 1, Duyen Hai 1 & 2 and O Mon 1 & 2
thermoelectric plants.
In
addition, EVN has put into use 28 220-500kV and 85 110kV power lines with a
total length of 1,463 km. The group has urgently completed investment
procedures and capital arrangements to start the construction of the Son
La-Lai Chau 500kV transmission line at the end of this year.
With
its high determination, EVN has completed the Song May-Tan Dinh and Phy
My-Song May 500 kV transmission lines, ensuring power supplies in the
southern region as of 2014.
According
to EVN, in the first nine months of this year, the group and its affiliates
signed credit contracts worth over 45.8 trillion VND (2.18 billion USD),
including 888 million USD from foreign official development assistance (ODA)
and foreign loans. Those of more than 26 trillion VND (1.24 billion USD) were
also inked in the third quarter of 2013.
EVN
also said that it will fulfil its plan of putting into operation six turbines
with a combined capacity of 1,420 MW by the end of this month, and strives to
have the first 600 MW turbine of the Vinh Tan 2 thermoelectric plant linked
to the national grid in late December.
The
group will make every effort to speed up construction of the Pleiku-My
Phuoc-Cau Bong 500 kV line while coordinating with the Ministry of Industry
and Trade to accelerate the approval of a project to provide electricity for
Ly Son Island in the central province of Quang Ngai .
For
power source projects, in 2013, EVN strives to complete the Vinh Tan-Song May
500 kV line and Vinh Tan 500 kV transformer station of the Vinh Tan 2
thermoelectric plant, and the Son Ha-Doc Soi 220 kV line of the Dak Drinh
hydropower plant.
It
will ensure the progress of power grid projects so that they can begin
operating early next year, together with the Mong Duong and Duyen Hai
Electricity Centres, and the Ha Tinh Formosa Thermoelectricity Plant.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri
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Thứ Sáu, 25 tháng 10, 2013
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