|
BUSINESS IN BRIEF 6/10
Vietnam
Public Commercial Joint Stock Bank makes its debut
The
State Bank of
The
PVcomBank was established following the merger of the PetroVietnam Finance
Joint Stock Corporation (PVFC) and the Western Commercial Joint Stock Bank.
PVcomBank
has total assets of over VND9,000 billion with a charter capital of over
VND100,000 billion.
PVcomBank
aims to provide services such as mobilization of capital, payment and
development of retail services, allocation of capital to major projects,
foreign exchange services in both local and international market. It has a
network of 102 transaction branches throughout the country.
SBV
Deputy Governor Dang Thanh Binh expressed his wish that with the advantages
of two large-scale credit organizations and modern financial management
technologies, PVcomBank will become one of
SBV is
committed to creating the most favorable conditions for PVcomBank to operate
stably and effectively in the future.
Dutch
funding advances
The
Dutch organization BE-Basic has allocated a 3.05 million Euro grant to
helping three Vietnamese projects on agricultural waste treatment, the
environment, and bio-products over the 2013–2014 period.
Vietnam
Academy of Science and Technology (VAST) Deputy Head Professor Nguyen Dinh
Cong told an October 3 seminar
The
Dutch-funded projects are expected to help
According
to Prof. Cong, the VAST proposed building a biology-based economy development
strategy to the Government in 2009.
This
funding is a breakthrough that needs to be consolidated by sufficient
preparation and foreign consultation.
BE-Basic
is a private-public organisation sourcing half of its budget from the Dutch
Government and investors. It is seeking international partners in countries
including
Int’l
Furniture & Handicraft Fair welcomes 100 businesses
More
than 100 businesses have showcased their products at the 2013 HCM City
International Furniture and Handicraft Fair (HCMC EXPO 2013) on October 3.
The
fair’s 240 pavilions displayed timber products and rattan and bamboo
household and interior design pieces from leading businesses such as Huu Hanh
Handicraft Embroideries Co, Ltd, Dai Hong Phat Ceramics, and Dong Tam Pottery
Fine Arts Export PTE.
Deputy
Industry and Trade Minister Tran Tuan Anh said HCMC EXPO 2013 is important to
the development of
The sector
has significantly contributed to national exports by improving product
quality and designs
The
fair offers businesses valuable promotional space and the chance to explore
potential markets while consolidating relationships with domestic customers.
HCM
City Department of Industry and Trade Deputy Director Le Van Khoa, a member
of the fair’s organising board, said the event focuses on cultivating
industry trademarks and the reputation of the sector as a whole.
Exports
to
Vietnam
Customs estimates national exports to the
Key
export commodities including telephones and electronic spare parts, reached
more than US$871.3 million, accounting for over 30 percent of
Footwear
exports were valued at US$358.5 million (up 7.5 percent), with garment and
textile exports reaping US$307.8 million (up 2.7percent).
Despite
having yet to break into the five most lucrative
EFTA
bloc presents farm export opportunities
Vietnamese
agricultural and seafood businesses will enjoy a wealth of export expansion
opportunities provided they abide by the European Free Trade Association’s
(EFTA) sanitary and phytosanitary (SPS) standards.
Tran
Trung Thuc, chief Vietnamese negotiator for the Vietnam-EFTA Free Trade
Agreement, introduced these opportunities at an October 3 seminar in
The
Vietnam Chamber of Commerce and Industry and the Ministry of Agriculture and
Rural Development convened the seminar to raise industry awareness regarding
EFTA sanitary and phytosanitary (SPS) regulations.
Thuc
believes that despite its comparatively smaller size, the EFTA’s four Swiss,
Norwegian, Icelandic, and Liechtensteinian comprise a dynamic bloc rich in
potential.
The
two parties have conducted five rounds of negotiations so far, making
progress on an FTA covering trade in goods and services and transnational
investment.
The
Thuc
says that along with tariff reductions, according with SPS requirements is
essential to opening doors for Vietnamese agricultural and seafood exports to
the EFTA and the EU markets.
Deputy
Norwegian Ambassador to Vietnam Larissa Falkenberg Kosanovic said SPS
measures were devised to ensure safe animal and plant products and protect
consumer health.
The
EFTA bloc has signed FTA agreements with 36 countries and presents
Overseas
remittances expected to increase: WB
World
Bank forecast
A
large proportion of the total originated from the more than 4 million
Vietnamese expatriates and approximately 400,000 guest workers in
World
Bank said the world's total overseas remittances including those poured in
high-income countries this year was estimated to reach 540 billion USD and
jump to the record level of 707 billion USD by 2016.
Of the
total, remittances sent to developing countries would increase 6.4 percent to
414 billion USD this year and surpass 500 billion USD by 2016.
It
added that total remittances into developing countries would surge in short
term with average growth rate of 9 percent each year.
The
World Bank's figures revealed changes in national classification. Some
countries which received large portion of overseas remittances including
Costs
for transfer remittances through formal channels were still high, making
people prefer using informal ones. The average cost last year was 9 percent
worldwide and remained unchanged. However, banks added some fees on the
remittances up to five percent.
Small
and medium-sized enterprises get competitive
A
programme to help small and medium-sized enterprises enhance technologies and
management to improve their competitiveness has been unveiled.
The
programme beginning this month would be conducted by the Business Association
of High-Quality Vietnamese Goods and the Ministry of Science and Technology.
The
two would carry out annual studies of technology reform at SMEs, Vu Kim Hanh,
chairwoman of the association, said.
They
would organise seminars and communications programmes to provide businesses
with more information about the Government's policies for developing science
and technology and for SMEs, she said.
The
programme is expected to help create close links between companies and the
National Office of Intellectual Property, enabling the former to understand
the importance of IP rights and the resolution of IP-related issues.
Technology
fairs and exhibitions would be held to develop the technology market, and the
two entities would help companies raise capital to enhance their
technologies.
A club
for innovative and creative businesses would be established to enable members
to share their experiences and information about research and development,
she said.
She
warned that enterprises are set to face increasing competition because of the
country's international integration, making the need for improving technology
and management urgent.
Minister
of Science and Technology Nguyen Quan said "enterprises are the centre
of science and technology innovation in the country. They are also a place
for application of advanced technology to improve production and efficiency
for the sake of society." They would perish without innovation, he
warned.
A
survey by the Business Studies and Assistance Centre of more than 100
enterprises found that most of them considered research and innovation to
develop new products a key factor in business development. But less than 20
percent of them actually had a research and development department, it
found.-
The
central
Thuy
Bieu ward in the city of
To
realise its goal, the province plans to apply the Vietnamese Good Agriculture
Practices (VietGap) standard for grapefruit cultivation in Thuy Bieu ward.
The
move aims to expand the grapefruit farming area, preserve valuable seeds and
locate stable markets for the product.
Thua
Thien Hue boasts an area of over 1,100 ha for grapefruit.-
More
chances for agro-fisheries products in EFTA
Vietnamese
agricultural product and seafood exporters will have more chances to expand
their market as they well form regulations in the sanitary and phytosanitary
systems (SPS) of the European Free Trade Association (EFTA).
Director
General Tran Trung Thuc, head of the Vietnamese EFTA negotiating team was
speaking at a seminar to introduce the SPS jointly held by the Ministry of
Industry and Trade, the Vietnam Chamber of Commerce and Industry and the
Ministry of Agriculture and Rural Development in
According
to Thuc, the EFTA is another trade area for non-EU countries in Europe,
including
This
is a dynamic economic bloc with
In
2009, leaders of
To
expand export market, apart from negotiations on tariff reductions, those
relating to the SPS play an important role in facilitating the exports of
Vietnamese agricultural products and seafood in the EFTA in particular and
European countries in general, Thuc said.
Deputy
Ambassador of the Norwegian Embassy Larissa Falkenberg Kosanovic said SPS
measures are to ensure safe animal and plant products and protect consumer
health.
The
EFTA has signed FTAs with 36 countries and this is a good chance for
Coastal
Phu Yen invests in tourism infrastructure
Endowed
with bountiful natural resources which underpin the development of tourism, a
key sector set to spearhead the provincial growth plans, Phu Yen has begun to
make a name for itself both in Vietnam and internationally. Report by the
As a
coastal province in south central of
It is
is considered a land of great potential for tourism industry development and
is moving forwards to becoming one of the most attractive destinations in the
country with a series of infrastructure projects under construction.
Phu
Yen province’s People’s Committee announced two local tours in August
including the Tuy Hoa - An Tho citadel -
In
order to create favorable conditions for transporting tourists to these
destinations and to promote the local tourism development, a series of
infrastructure projects were inaugurated and put into operation in August,
including the Tuy Hoa airport, Hung Vuong bridge (linking Tuy Hoa with coastal
communes) and An Hai bridge (over the O Loan lagoon).
These
infrastructure projects marked a turning point in attracting investment into
Phu Yen’s tourism, a spearhead economic sector.
An Hai
bridge is 25km to the north of Tuy Hoa city and 10km to the south of the
According
to Chairman of Phu Yen province’s People’s Committee Pham Dinh Cu, located in
a strategic position, An Hai bridge will work as an important link connecting
the coastal tourism destinations of Ca pass, Vung Ro port, Tuy Hoa airport,
Long Thuy beach and
The
bridge serves for the purpose of tourism development and local transport as
well for people in communes of An Hai and An Ninh Dong that are often
isolated during the flood season.
“Previously,
people in the two communes of An Hai and An Ninh Dong must travel to visit
each other by boat or ferry. Now, they can do it any time they want thanks to
An Hai bridge. In addition, local tourism industry is also promoted,”
Chairman of Tuy An district’s People’ Committee Nguyen Phung Ngoan said.-
Eight
banks lend VND1.13 trillion to city enterprises
Eight
banks on Tuesday signed contracts to lend VND1.13 trillion to 36 enterprises
and two household businesses in districts 7, 4 and 2 in HCMC.
The
credit contracts, arranged under the city’s bank-business connectivity
program, were signed between Sacombank, Agribank, VietinBank, ACB, HDBank,
DongABank, ABBank, and Eximbank, and these corporate borrowers.
The
borrowers enjoy a preferential lending rate of a maximum 9% per year, said
Nguyen Hoang Minh, deputy director of the central bank’s HCMC branch.
VND636.8 billion goes to enterprises in District 7, VND406.3 billion to those
in District 4, and VND88.8 billion to those in District 2.
Minh
said up to date, the central bank’s HCMC branch had helped expand the program
to 22 out of 24 districts in the city, with the total credits put at VND9.8
trillion. Beneficiaries are 492 enterprises and 67 household businesses.
The
next signing ceremony is expected to take place this year between banks and
enterprises in the remaining two districts, 1 and 3. Minh said 40% of the
committed loans had been disbursed to clients under the program.
AIA
AIA (
AIA
expects the application of this technology can change the life insurance
sales process of agents in
With
iPoS, all agents of AIA will be equipped with iPad installed with iPoS. All
the tasks of getting customers’ information, illustrating benefits of
products, completing application forms and submitting all documents to the
company will be done electronically on iPad.
AIA
agents can work anywhere at anytime even when iPad does not have Internet
access. Besides, they can sign contracts with customers within 24 hours,
which was impossible before.
iPoS
has also been employed in other markets in the Asia-Pacific region and the
version compatible with Android operating system will come out in the near
future.
With
over 5,000 employees and over 14,000 agents nationwide, AIA Vietnam currently
has over 320,000 insurance contracts.
In the
year’s first half, AIA Vietnam paid insurance benefits to over 190,000 policy
holders with a total amount of nearly VND1.3 trillion.
Sept
PMI shows signs of improvement
SBC
Bank has released the Purchasing Managers’ Index (PMI) of the local
manufacturing sector which stayed at over 50 in September, indicating
positive signals on the health of the sector.
“PMI
registered more than 50 for the first time in five months. And new orders and
export contracts and employment posted an all-time high in the survey
history,” says the survey result announced by HSBC on Tuesday.
The
headline seasonally-adjusted index rose back above the 50 no-change mark to
stand at 51.5 during last month, an improvement on the 49.4 in August and the
best reading since April 2011, the first month when the survey data was
launched.
With
the survey, HSBC found out that the PMI growth was driven by an outstanding
gain in new orders and employment at home, reflecting improvements in basic
demand from local and foreign customers.
New
export business also marked up at a record pace, with September being the
first month in four months seeing an increase in new export revenues.
As per
HSBC’s report, inventories of finished products picked up slightly in
September while manufacturers were able to increase inventories, reduce
backlogs of work and respond to soaring new orders while maintaining the
stability of output in general.
“While
we expect output to pick up in this year’s second half thanks to an expected
recovery in the Eurozone,
Thai
investors eye
Thirty-five
investors from
Kim
Thien Quang, director of individual client unit of Maybank Kim Eng Vietnam
Securities Company, said the investors have information on profitable local
enterprises but foreign ownership room there is full. However, the
Government’s foreign ownership cap increase scheme has drawn their attention.
The
investors have visited some large enterprises such as Vinamilk and
PetroVietnam Fertilizer and Chemicals Corporation, and sought information of
PetroVietnam Drilling & Well Service Corporation and Ba Ria-Vung Tau
House Development Joint Stock Company (Hodeco).
During’s
Hodeco introduction ceremony at the head office of Maybank Kim Eng Vietnam
Securities Company on Tuesday, the investors asked for information on the
enterprise’s projects, market capitalization and share prices.
An
investor of Maybank Kim Eng Thailand Company told the Daily that Hodeco with
the stock code of HDC is a potential ticker thanks to feasible projects.
However, he was concerned about low liquidity of the stock with only 10,000
shares changing hands each session.
The
local stock market is rather small, so investors should focus on large caps
only, the investor said.
In the
near future, Maybank Kim Eng
Ha
Giang reviews one-year cooperation with
The
Permanent
Vice Chairman of the Ha Giang provincial People’s Committee Nguyen Van Son
said the cooperation programme has gained many encouraging results which
create mutual trust, and foster the practical and effective cooperation
between the two localities in all fields.
To
deepen their cooperation, in the time to come, the two sides will focus on
exchanging information to help each other achieve their socio-economic
development goals, strengthening the connectivity and cooperation in trade
and investment promotion.
Ha
Giang will call for more investment and give priority to upgrading the
infrastructure of the Thanh Thuy national border gate economic zone in Vi
Xuyen district and the two provinces’ main and auxiliary border gate pairs.
Over
the past one year, the two sides have also put forth many effective measures
to boost their trade ties. Their two-way trade reached 352 million USD in
2012, a year-on-year increase of 23 percent. The figure surpassed 350 million
USD in the first nine months of this year and is expected to reach 400
million USD in 2013.
New
wood production systems bark up the right tree
Wood
products in
According
to the Quang Ninh Department of Natural Resources and Environment’s
statistics, the province has about 136,954 hectares of planted forests. In
the first six months of this year, the province planted 9,000 more hectares
of planted forests. Logging areas span an average of two million cu.m per
year.
Quang
Ninh province’s Industry Promotion and Industrial Development Consultation
Centre Deputy Director Hoang Duc Kha said that although the companies are
turning out significant product volume, the production process lacks
efficiency.
The demand
for wooden planks is rising as furniture production continues to grow and the
product quality is consistent, no termites or shrinkage as well as a
diversity of aesthetics and features such as scratch resistance. Most
furniture is actually made from planted timber, which is cheaper than natural
wood products.
As
part of this year’s industry promotion plans, Quang Ninh province’s Industry
Promotion and Industrial Development Consultation Centre has actively
supported wood processing enterprises in implementing new technologies,
expanding production and diversifying products to most effectively exploit
raw materials.
The
centre collaborated with the Dong Trieu Construction Co., Ltd. to build a
technical performance model for the production of wooden planks with a
capacity of 1,650cu.m per year. The model had investment capital totaling 5
billion VND. With the support of a local industry promotion budget of 200
million VND, the company invested in expanding its production facilities and
constructing warehouses. In addition, the company also invested in automatic
production lines and other state-of-the-art machinery.
The
company reported that once started, the production model will consume
approximately 6,000cu.m of planted timber per year and help the company reach
revenues of over 15.675 billion VND per annum. The model will also create 13
new jobs, bringing the total number of employees working in the company to
40.
Industry
Promotion and Industrial Development Consultation Centre Deputy Director
Hoang Duc Kha said that a technical performance model for production line for
wooden planks had engaged the interest of wood processing enterprises in the
province.
The
centre also supported the Quang Ninh Forest Product Processing JSC in
investing in an improved production line with a capacity of 1,500cu.m per
year.
The
Quang Ninh Forest Product Processing JSC Director Tran Thi Lan said that with
the support of the local industry promotion budget, the company was able to
buy highly-rated Japanese technologies.
The
model was completed and tested. The company reported that the new tech could
help them reach revenues of 21.75 billion VND per year as well as create 57
new jobs earning roughly 3.5 million VND per month apiece.
Khanh
Hoa approves seafood purchasing project with Chinese company
The
central
The
project, which will last until 2016, aims to ensure stable income for
fishermen as well as minimise losses during the process of purchasing and
transporting.
The
Nha Trang-based Phuc Minh Fisheries Co., Ltd. will be responsible for the
purchasing of seafood, while Long Faw’s ship, the Yue Dian Bai 8366 will be
allowed to enter Van Phong and Cam Rang ports in Khanh Hoa to load products
for transport under the project.
The
General Fisheries Department under the Ministry of Agriculture and Rural
Development has granted a one-year licence of operation to the Yue Dian Bai
8366 as from September this year.-
Efforts to avert
a debt default
The
Vietnam Asset Management Company (VAMC) has taken first steps towards
addressing the banking system’s non-performing loan (NPL) problem to support
economic recovery efforts.
VAMC
on October 1 signed a contract to buy VND2,450 billion in NPLs from the Bank
for Agriculture and Rural Development (Agribank).
VAMC
Vice Chairman Nguyen Quoc Hung said Agribank has been selected for it is a
big credit organisation operating in agriculture and rural development – a
key economic sector.
Agribank
is the first Vietnamese credit organisation to sell their NPLs to VAMC
“The
most important thing is Agribank is keen to restructure its loans,” said
Hung. “It has already built up loan loss provisions to cushion the bank’s
balance sheets, which is one of our criteria for selection.”
The
fact is that several credit organisations do not want to sell their NPLs to
VAMC for fear the move will affect their operations. They do not know how to
plan provisions and to refinance their loans at the central bank.
The
State Bank of Vietnam (SBV) and VAMC jointly hosted two conferences in
As a
result, VAMC has so far received requests from more than 10 credit
organisations of which four have a NPL ratio of less than 3%.
A
recent SBV document only requires commercial banks with a NLP rate of more
than 3% to sell their debts to VAMC.
After
Agribank, VAMC is scheduled to sign similar contracts with the Saigon
Commercial Bank (SCB), Saigon-Hanoi Commercial Joint Stock Bank (SHB) and
Petrolimex Group Commercial Joint Stock Bank (PG Bank) this week.
“We
aim to buy VND30,000 worth of NPLs and issue between VND30,000-35,000 billion
worth of special bonds by the end this year to support banks,” said Hung.
To
ease banks’ difficulties, the central bank plans to offer a minimum interest
rate of 2% for their bonds instead of the 7% refinancing rate at present.
Banks can use the bonds to refinance their loans at the central bank.
The
rate proposal has been submitted to the Prime Minister for approval.
VAMC’s
NPL settlement could kill three birds with one stone, said Hung, explaining
businesses are able to take out new loans, the banking system will become
healthier, and the economy will be stimulated.
After
selling their debts, credit organisations have the chance to restructure
themselves to secure safe operations and improve liquidity. They can use VAMC
bonds to refinance 70% of their loans at the central bank to assist
businesses.
An
important thing is that credit organisations’ NPL ratio will fall, helping
increase their trust locally and globally.
Businesses
that default on their payments also benefit from the NPL settlement.
They will also have the chance to restructure operations, pay off debts,
enjoy reduced interest rates, and access new loans.
In the
face of the stagnant real estate market, the move will prevent developers
from piling it high and selling it cheap. This means both businesses and
banks still hold capital assets to maintain operations.
In an
Asian Development Outlook Update released in
Innovation
key to agriculture
A more
effective application of science and technology development in agriculture is
seen as a key factor in the restructuring of this crucial sector, according
to experts.
Minister
of Agriculture and Rural Development Cao Duc Phat commented at a recent
development workshop that the country's agricultural restructure master plan
must embrace science and technology to ensure a higher level of efficiency.
Since
2008, the State has spent more than VND2.1 trillion (US$100 million) implementing
projects to build laboratories which can aid research and technology transfer
to the sector's operations. It has helped to put hundreds of high-yield
varieties of crops and domestic animals into production.
However,
the National Assembly Committee for Science and Technology and Environment
assessed that more still must be done to meet the demand of agricultural
development.
The
committee's Chairman Phan Xuan Dung said the existing science and technology
management mechanism was not good at enforcing theory into practice.
In
fact, the agricultural sector remains small-scale in its production capacity
and the rate of science and technology used in farm production is still low,
he said.
A
"brain-drain" of human resources in the field of science and technology
has increased due to the lack of preferential policies for researchers, he
added.
National
Assembly Chairman Nguyen Sinh Hung declared that the country's agricultural
sector had yet to live up to its potential, citing the low competitive edge
of agricultural products as an example.
He was
speaking on the issue at last week's national conference reviewing the use of
science and technology in agricultural development.
He
argued that the adoption of more advanced science and technology would play a
vital role in rectifying this situation.
He
said that scientists should take responsibility for doing research repairing
and improving the quality of agricultural production, building rural areas
and improving farmers' living conditions.
Deputy
Minister of Agriculture and Rural Development Le Quoc Doanh also stated that
slow renovation of technology meant that many traditional agricultural
products of
Particularly,
production and preservation technology for some kinds of agricultural
products were ineffective, making them lag behind their competitors from
other countries.
Minister
of Science and Technology Nguyen Quan said it was essential to promote
scientific research specific to farming and to ensure copyright laws are in
place for new varieties of crops or domestic animals.
At
present, investment in agriculture meets only 60 per cent of the real demand
and preferential policies encouraging businesses to invest in the sector have
not been effective enough.
Under
the master plan on restructuring the sector towards increasing added value
and sustainable development during the 2011-20 period, science and technology
research and human resources training will be promoted with the participation
of all economic sectors, particularly non-State businesses.
Phat
said a supervision and assessment system would be completed to promptly put
scientific and technological research into practice.
The
ministry would support farmers in getting access to research services as well
as advanced techniques while developing models of vocational training for
farmers teaching them how to implement the technology, he said, adding that
the required investment would come from more varied sources.
The
master plan aims for the country to achieve an annual GDP growth rate for the
agricultural sector of between 2.6-3 per cent per year during 2011-15 and
3.5-4 per cent during 2016-20.
The
other targets are to improve the income and living standards for rural people,
ensure food security and reduce poverty.
Head
of the Ministry's Planning Department Nguyen Thi Hong said one key measure to
help effectively restructure the economy was to encourage more private
investment in agricultural development.
Apart
from policies issued by the Government, localities should have their own
initiatives to draw more investment in the sector in line with their
socio-economic conditions, she said.
Up to
70 per cent of
Small
firms get competitive
A
programme to help small and medium-sized enterprises enhance technologies and
management to improve their competitiveness has been unveiled.
The
programme beginning this month would be conducted by the Business Association
of High-Quality Vietnamese Goods and the Ministry of Science and Technology.
The
two would carry out annual studies of technology reform at SMEs, Vu Kim Hanh,
chairwoman of the association, said.
They
would organise seminars and communications programmes to provide businesses
with more information about the Government's policies for developing science
and technology and for SMEs, she said.
The
programme is expected to help create close links between companies and the
National Office of Intellectual Property, enabling the former to understand
the importance of IP rights and the resolution of IP-related issues.
Technology
fairs and exhibitions would be held to develop the technology market, and the
two entities would help companies raise capital to enhance their
technologies.
A club
for innovative and creative businesses would be established to enable members
to share their experiences and information about research and development,
she said.
She
warned that enterprises are set to face increasing competition because of the
country's international integration, making the need for improving technology
and management urgent.
Minister
of Science and Technology Nguyen Quan said "enterprises are the centre
of science and technology innovation in the country.
"They
are also a place for application of advanced technology to improve production
and efficiency for the sake of society."
They
would perish without innovation, he warned.
A
survey by the Business Studies and Assistance Centre of more than 100
enterprises found that most of them considered research and innovation to
develop new products a key factor in business development.
But
less than 20 per cent of them actually had a research and development
department, it found.
Stake
sell off to raise State funds
The
Viet Nam Association of Financial Investors (VAFI) has advised the Government
and the National Assembly to sell additional stakes in well-performing State
enterprises and to offload more high-street real estate in order to
immediately raise the State budget.
The
proposal estimated that the sale of State holdings at State-owned and
privatised enterprises like Mobifone, Viettel, Sai Gon Beer, Ha Noi Beer and
Vinamilk would add approximately US$5 billion to the declining State budget.
The
association added that
VAFI
said that such administrations were destroying the value of
"Management
lessons provided by Vinashin and Vinalines, which the State had to pay
roughly $7 billion to learn, definitely stand. If the Government stonewalls
the sales, their asset values will collapse and they will have to make
further borrowings to invest in the economy," VAFI General Secretary
Nguyen Hoang Hai said.
Ha Noi
and
In an
attempt to raise more money, VAFI has proposed that the Government levy 20
per cent special consumption tax on the purchases of gold bars and gold jewellery.
People and institutions will not have to pay tax for selling gold to the
State Bank of
"This
is the only single measure to end gold accumulation and dollarlisation. If
the Ministry of Finance and the State Bank of
In
addition, VAFI urged policy-makers to see the stock market as a capital
source for the economy.
Cashew
exports to rise despite shortage
Cashew
export activities for local firms will increase by year end, but a lack of
raw materials is expected to hamper export processing, said the Viet Nam
Cashew Association (Vinacas).
The
export surge is possibly resulted from high cashew demands on the world
market, with prices jumping from an average of US$6,300 per tonne in the
first two quarters of this year to $7,600 in August, said Nguyen Thai Hoc,
the Dong Nai Cashew Association chairman.
From
October of this year until March 2014, exports should have more advantage due
to higher prices in the second and third quarters of this year, Hoc said.
However,
the most important thing at present is the limited local cashew supply and
capital difficulties for enterprises, which caused cashew imports to increase
70 per cent over previous years, he said.
The
Dong Nai Cashew Association warned its member companies to prepare a larger
stock of raw cashew for export processing until March 2014 because local
supply can only meet 50 per cent of demand, or 130,000-150,000 tonnes.
Donafoods,
a farm produce export company and a member of the Dong Nai Cashew
Association, has been negotiating to have 70,000-80,000 tonnes of imported
raw cashew from
The
Ministry of Agriculture and Rural Development said that
During
the first nine months, the
To
reach the target, local firms should maintain traditional markets such as the
While
the demand for vegetables, fruits and dairy increase recently compared to
grains,
The
issue was top on agenda at the forum “Strengthening agricultural productivity
and supply chains in Vietnam”, which was co-organised on October 3 in Hanoi
by the Institute of Policy and Strategy for Agriculture and Rural Development
(IPSARD)’s Centre for Agricultural Policy, the ADB Institute and the French
Development Agency (AFD).
Speaking
at the forum, Tin Htut Oo, Chairman of National Economic and Social Advisory
Council of Myanmar, said that after the world food crisis in the 2007-2008
period, more countries became aware of the importance of agricultural
production in the national economy and started to strengthen food production,
and the food supply in the world has significantly increased.
He
added, however, that in recent years, as several economies have gradually
rebounded, living standards have improved and more people are migrating to
urban areas.
“This
has forced agriculture to adapt. Previously Vietnam focused on enhancing
productivity but now food security is no longer a major domestic concern.
It’s necessary to develop its agriculture into a commercial business so as to
increase farmers’ incomes and value chains,” he recommended.
According
to the Vietnamese Academy of Agricultural Science, the country should
continue to maintain rice production along with expanding cultivation of
industrial plants like rubber, coffee, tea and pepper, as well as growing
more vegetables, fruits and flowers.
“Agricultural
restructuring should aim at enhancing productivity by selecting new rice crops
that give higher yields and better quality. Some rice cultivation areas
should be used for the cultivation of maize to serve domestic animal feed
production as well as growing soybean and other crops,” they suggested.
Lan
Huong, a policy official from United Nations Food and Agriculture
Organisation (FAO) in Vietnam said the restructuring should ensure more
benefits for farmers as well as help maintain Vietnam’s status in the world’s
farm produce markets.
She
emphasised the necessity of of identifying key crops and animals so as to
develop sustainable supply chains.
Nao
Ikemoto, ADB, Senior Environment Specialist, said foreign direct investment
in Vietnam’s agriculture is currently modest and now is a good time to try to
boost private investment in the industry. The government’s investment in
agriculture should also switch from irrigation infrastructure to research and
development and agricultural promotion so as to increase production values
and enhance its competitiveness. More attention should be paid to food safety
and hygiene as well as environmental protection during the process, he said.
Apart
from strengthening agricultural productivity, it is important to enhance
supply chains.
“Consumers
now tend to prefer clean, environmentally-friendly and value-added products,
so supply chains that meet these elements would be more likely to be
successful and those which take part in such chains would benefit,” Nguyen Do
Anh Tuan, IPSARD Deputy Director said.
According
to Tuan, Vietnam should switch from increasing production to creating more
benefits for farmers so as to encourage them to produce more valuable
products.
“At
present, Vietnam’s produce is facing fierce competition as the country still
lacks professional agricultural supply chains. In the time to come,
public-private partnerships should be encouraged so as to intensify
cooperation between farmers and enterprises and foster development of
standards, science and technology and trademark. Farmers would benefit from
this,” Son added.
Michelin
launches road safety programme
France’s
Michelin, one of the largest tyre manufacturers in the world, has announced
its fourth annual tyre safety campaign to expand its reach among consumers
and promote road safety in Vietnam.
The
one-month campaign will start October 10 and run for a month. It will be
located in major supermarkets, shopping centres, and plazas in major cities
throughout the country.
The
campaign aims to help drivers improve their road skills and remind them of
their responsibilities to themselves and other commuters as well as educating
them on good tyre care.
In
2011, the FIA (Federation Internationale de l’Automobile headquartered in
Paris) launched the Action for Road Safety campaign in support of a United
Nations’ decade-long programme supporting the same. The same year, Michelin
signed a partnership agreement with FIA that broadened the federation
campaign’s reach and mobilised Michelin’s resources throughout the world.
In
support of the programme, the company’s press release said “Tyres need to
deliver optimal performance on all fronts, from durability and versatility to
safety, consistency, and performance. This is the driving force behind the
Michelin Total Performance Strategy.”
Established
in 1889 in France, Michelin designs, manufactures and sells tyres for nearly
every type of vehicle imaginable. The company employs 113,400 people, has
sales organisations in more than 170 countries, and 69 production centres
spanning five continents. The company also produces travel guides and maps.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Thứ Bảy, 5 tháng 10, 2013
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét