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BUSINESS IN BRIEF 25/12
Paper industry
grows 7% in 2013
The
paper industry has posted sales growth of 7% this year, but this growth rate
is not equally shared by companies in the industry, Vu Ngoc Bao, vice
chairman and general secretary of the Vietnam Pulp and Paper Association,
said at a news briefing in HCMC on Tuesday.
At the
news briefing on the exhibition Paper Vietnam 2014, Bao said the 2013 sales
growth of the industry was not so bad although it was lower than in previous
years.
Total
paper sales volume in 2013 is estimated at three million tons, up 3% year-on-year,
and domestic output at 1.7 million tons, rising 7% year-on-year, with the
balance imported. However, paper imports have increased 10% against last
year.
Bao
said many companies had constantly made strong investments to meet rising
demand while some others had been forced to either stop or scale down
production. The struggling enterprises are mainly those with an annual
production capacity of less than 10,000 tons, he noted.
This
is a natural selection in the paper industry in the context of the current
economic difficulties, Bao said. As such, some businesses weak in governance
and technology have been eliminated.
Bao
forecast the paper industry to grow better next year.
Rubber
exports surpass 1 billion USD
The
information was released by Chairman of the Ho Chi Minh City Rubber and
Plastic Manufacturers Association Nguyen Quoc Anh at a recent press
conference to introduce a rubber and tyre exhibition held in the city.
Domestic
rubber exporters can now join the billion USD club, he said, noting that they
must pay attention to improve the quality of their products.
The
country also ranked fourth in terms of the amount of natural rubber for
export, which accounted for 10.6 percent of the market share in 2012.
The
nation’s rubber tree productivity is about 1,707 tonnes of latex per ha,
generating 105 million VND, ranking third after
BIDV
teams up with Japan’s top bank
The
Bank of Investment and Development of Vietnam (BIDV) has signed a Memorandum
of Understanding (MoU) on strategic partnership with
The
MoU was inked during Prime Minister Nguyen Tan Dung’s official visit to
The
pact aims to build a strategic cooperation mechanism between BIDV and SuMi
TRUST, which are among the leading ones in
On the
occasion, BIDV also signed other memoranda of understanding with the Vietnam-
Japan Business Association (VJBA) and the Vietnam Economic Research Institute
(VERI) in
Work
starts on
Construction
of an 80km section of the
The La
Son-Tuy Loan section will be built at nearly 12 trillion VND (564 million
USD) in the build-transfer (BT) form.
It
starts from La Son town, Phu Loc district, Thua Thien-Hua province, and ends
at the intersection with the
Once
being completed in April 2017, the section is expected to ease transport
through the Hai Van tunnel and avoid flooding on
US$1.36
billion investment in a new thermal power plant
An EPC
(engineering, procurement and construction) contract for Vinh Tan 4 thermal
power plant construction in southern Binh Thuan province was signed in
The
new 1,200MW plant, located in an area housing three other thermal plants,
will help raise its local capacity to 5,600MW.
This
is the biggest thermal power plant in
This
is a joint venture of the Electricity of Vietnam (EVN) Group, the
It
first generator will be put into operation in the fourth quarter of 2017 and
the second in the third quarter of 2018.
Vinh
Tan Thermal Power Plant 4 is annually expected to supply about 7.2 billion
kWh to the electricity grid to help reduce
Exports
to
Products
experiencing high growth rates include footwear, garments, wood, seafood,
computers, electronics, mobile handsets and components.
Mobile
handsets and components topped the list of major export items to
Notably
computers, electronics and components gained the highest growth of 116.6%.
However,
several products saw a decline in export value, including machinery,
equipment, tools (down 4.2%), wood and timber products (down 16.5%), rubber
(down 25.7%) and bamboo products (down 17.5%).
Tra
(pangasius) fish exports hit US$1.8 billion
The
Vietnam Directorate of Fisheries reports Tra (pangasius) fish exports are
expected to hit a staggering US$1.8 billion this year.
The
Vietnam Association of Seafood Exporters and Producers (VASEP) predicts
2014’s Tra fish exports will drop by 5% over 2013 due to a decline in
domestic materials and the impact of commercial banks’ tight credit policy.
However,
the export value is likely to reach US$2.2 billion in 2015 and US$3 billion
in 2020, VASEP says.
While
Tra fish exports to key markets like the EU and the
Vietnam
Customs revealed that by the end of October, Tra fish exports to
VietJetAir
receives foreign loan for new aircraft
A
VietJetAir spokesperson, did not disclose the value of the contract
yesterday, but said the first three Airbus orders to be delivered in 2014
will cost US$258 million.
This
is the airline's next step in realising an agreement with Airbus to purchase
100 planes, which was signed on May 9, 2013, he said.
The
agreement aims to meet VietJetAir's vision for building the most modern fleet
in the region and becoming a multi-national airline. BNP Paribas is one of
the leading financial providers for the aviation industry, serving 128
airlines and aircraft leasing companies throughout the world.
Kien
Giang targets $670 million in 2014 exports
The
southern
Of the
total, the export of agricultural products is expected to reach $440 million,
while exports of aquatic products should bring in $175 million, as still
other goods earn $55 million. The province will also plan to ship abroad 1.1
million tonnes of rice next year.
To meet
this goal, Kien Giang will keep a close watch on supply, demand and price
developments of some key products, the department said.
Further,
Kien Giang will make full use of its advantages and minimise impacts of the
economic recession, while increasing trade promotions and expanding export
markets, especially those with high demands.
Renovations
commence on int'l highway route
The
upgrade of sections of National Highway 19 linking central Binh Dinh
province's Quy Nhon seaport with the
The
Built-Operate-Transfer (BOT) project, which is to cost more than VND2
trillion (US$94 million), is scheduled to be completed in 2015.
The
road work is expected to help ensure traffic moves safely on steep sections
of the highway, and boost economic development in Binh Dinh and Gia Lai
provinces, as well as the
The
sections to be upgraded include 33 km in Binh Dinh province and 22.6 km in
Gia Lai province.
Also
yesterday, construction of an 80km section of the
The La
Son - Tuy Loan section will be built at a cost of nearly VND12 trillion ($564
million).
Construction
is to begin in La Son town, Phu Loc district, Thua Thien -
Once
completed in April 2017, the section is expected to ease congestion as
traffic will flow through the Hai Van tunnel and alleviate flooding on
Gov't
declares 2013 economic success story
Economically,
2013 was a successful year for
"With
the Government's determination and the great efforts made by leaders from
different sectors,
Difficulties
in business production have gradually been solved while bad debts have been
tackled and social security and social welfare have been paid due
attention," Vinh said.
From
the beginning of the year, the government and the Prime Minister started to
develop guiding documents to turn the Party Central Committee and National
Assembly's resolutions into reality, particularly through government
resolutions 1 and 2, which focus on socio-economic development and supporting
enterprises and the market.
"These
resolutions are the main tools for ministries and sectors to implement the
country's 2013 socio-economic programme," Vinh said.
Throughout
the year, the government and the Prime Minister have worked hard to ensure
the completion of both immediate and long-term targets, such as inflation
control, macro-economic stability and a rational growth rate.
The
government has also tried hard to link economic development with cultural and
social development coupled with environmental protection and sustainable
development.
In
2013, the country faced many economic difficulties, including the reduction
in national revenue collection. Yet the Government still gave tax exemptions
and delays while prioritising social security and the development of rural
areas and agriculture. Other tasks that the government paid attention to were
linking socio-economic development to national defence and security and
promoting the nation's prestige in the international arena.
Minister
Vinh also presented the government's draft resolution on tasks and key
measures to implement the 2014 socio-economic development plan as well as the
State budget. He highlighted nine groups of measures, including
macro-economic stability, inflation control, business and production
development, economic restructuring, improving the economy's competitiveness
and climate change response.
Speaking
at the conference, Prime Minister Nguyen Tan Dung asked local government
leaders, ministry and sectors to share the lessons they learned in 2013 and
provide feedback about the government's performance in 2013, particularly
when it came to weaknesses and limitations.
Dung
also asked them to reflect on the government's draft resolution on the tasks
and measures to implement the 2014 socio-economic plan as well as the State
budget proposal.
The
two-day conference will close today.
BIDV
opens new branch in Phnom Penh
A
subsidiary of the Bank for Investment and Development of Viet Nam (BIDV)
opened its seventh branch in Mean Chey District,
This
marks a move by the Bank for Investment and Development of Cambodia (BIDC) to
increase its strategy of penetrating and building up a firm position in
The
new branch is also expected to meet local demand and boost the development of
trade and investment ties between
The
Viet Nam Seafood Exporters and Producers (VASEP) expects the value of
Vietnamese seafood exports to
Truong
Dinh Hoe, VASEP general secretary, said that in the past two to three years,
In the
first 10 months of this year, the export value of Vietnamese seafood to
The
value of shrimp exports to
Hoe
said
Tra
fish exports to
However,
the greatest challenge in exporting local seafood products to
Hoe
said exports through border trade are not stable, and enterprises face risks
in getting their payments. In addition, border trade exports do not reach a
large number of customers in
Exports
to the Chinese market should be through official trade and in accordance with
trade quotas, he stated. For better success in the market, the enterprises
should conduct market research in
Vietnamese
exporters should promote the export of processed seafood products to increase
the added value because currently, most of the local exports are either raw
materials or unprocessed seafood, he explained.
EU
market beckons agriculture exports
At a
seminar on the export of farm and food products to the EU in
The
agricultural product processing industry is forecast to grow by up to 3.5 per
cent each year in the coming years, according to the centre. That growth will
increase the opportunities to export farm and food products, such as coffee,
cacao, tea, honey, cashew and fruits, from
Nguyen
Manh Dung, the head of the Agro-Forestry, Seafood Processing and Salt
Industry Department, noted that the EU is the second-largest export market
for Vietnamese products, with exports from
This
year, the export value of products from
The
top exports from
However,
Vietnamese agricultural exports to the EU also faced some significant
challenges, including a lack of storage and processing facilities and the
relatively limited scale of production by small-and medium-sized enterprises,
Dung added.
Additionally,
agricultural exports had to meet the strict quality, hygiene and safety
standards of the EU, he said. Dung stated that if
They
also need to develop direct exports instead of using the current route of
indirect export activities, Dung said at the seminar held by the Centre for
the Promotion of Imports from developing countries (CBI), which was jointly
organised by the European Union and the Trade Promotion Agency.
The
CBI and the Trade Promotion Agency have a joint programme that supports Vietnamese
exporters in their exports to the EU.
The
programme gives priority to eligible local firms in the coffee, tea, cocoa,
honey, cashew, spice and the herbal industries and offers support for market
research, accessing information on competitors, improving competitiveness and
meeting the EU's standards of quality.
Experts
urge more support to bolster fisheries sector
The
Government should help improve seafood quality by enabling fishermen to have
better storage facilities and setting up fishing hubs, and provide more
support for offshore fishing, experts said.
Speaking
at a seminar held in the southern
More
than 8 per cent of fishermen are illiterate while only half have even
completed primary education, he said.
Most
of them learn their fishing skills from older colleagues generations and on
the job, he said.
"Therefore,
providing them fishing skills is one of the essential tasks."
There
were more than 4,700 accidents involving fishing boats between 2007 and 2012,
leaving 427 men dead, 213 missing, and 1,400 injured, according to the
Directorate of Fisheries.
More
than 60 per cent of the accidents were caused by engine failure, it said.
The
country has more than 117,000 fishing boats, but more than two thirds have
engines of less than 90 horsepower.
Nguyen
Ngoc Oai, deputy head of the directorate, said fisheries authorities manage
such a large number of boats but do not have enough rescue forces in case of
sudden accidents.
Nguyen
Quoc Chinh, chairman of the An Hai Commune Fishery Trade Union based in Quang
Ngai Province, said the commune's fishermen know that they have to mainly
depend on each other in case of accidents.
"The
establishment of fishery trade unions is necessary to link up fishermen for
catching fish and rescuing each other."
There
are few unions in the country's 28 coastal cities and provinces, he added.
Participants
said the Government has had in place support polices, including investment in
infrastructure and loans for fishermen to buy boats since 1997.
But
they remain inadequate and fishermen continue to face difficulties, they
said.
Fishermen
are provided loans to buy fishing boats but not provided to equipment and
facilities.
Under
a Government plan, five fishing hubs will be set up in 2020-30 in Hai Phong
and
The
hubs would each have a fishing port, logistics services, processing plants,
fish trading floors, and training facilities for fishermen, he said.
Tran
Du Lich, head of the HCM City National Assembly Delegation, said the
Government should soon set up such a hub in the central region.
He
also said fishermen face difficulties in getting bank loans.
Deputy
Minister of Agriculture and Rural Development Vu Van Tam said many fishermen
cannot get bank loans because there are no specific regulations for the
fisheries sector.
Fishermen
can only borrow general loans and they have to mortgage assets.
The
ministry would work with banks to enact regulations that would enable lending
to fishermen, he promised.
Last
year the country's total catch amounted to 2.63 million tonnes of fish and
the fisheries sector provided more than 4 million jobs, according to the
directorate.
Preferential
policies for agricultural development
The
Government has promulgated a series of additional preferential policies to
encourage businesses to invest in agriculture and rural development.
Under
newly-approved Decree 210/ND-CP, investors shall be exempted from land use
fee for carrying out agricultural projects eligible for special preferential
treatment.
For
projects eligible for preferential treatment, the land use fee shall be
reduced to 70%. It shall be cut in half in case of encouraged investment
projects.
Investors
of large-scale livestock farms will receive around US$140 per project.
Especially,
those on production of high yielding dairy cows will get US$235 each. The
preferential policy aims to help investors build sewage treatment,
electricity and water systems, pastures, and battery cages.
The
decree which will take effect from February 10 next year, says the
preferential policy is also applicable to centralised aquaculture projects at
sea.
However,
The
results of public-private partnership (PPP) programmes in the cultivation,
breeding and seafood sectors has reinforce BMI’s forecasts of Vietnam's
agriculture sector in the coming years.
The
country's fertile soil and its increasing agricultural productivity will
support robust growth in various sectors by more than 10% between 2012 and
2017.
To
maintain growth,
Dak
Nong: 1 trillion VND for IP infrastructure
The
Central Highlands
Accordingly,
the money was poured into Tam Thang and Nhan Co industrial parks (IPs) in the
districts of Cu Jut and DakR’lap and industrial clusters in Dak G’ Long, Dak
Song, Krong No, Tuy Duc and Dak Mil district as well as Gia Nghia town.
Covering
an area of 181 ha with a basically completed-infrastructure system, Tam Thang
IP has so far seen an occupancy rate of more than 77 percent, with 20
operational projects along with four projects under construction and six
newly-licensed projects.
Nhan
Co IP has a total area of 95 ha, mainly serving bauxite ore exploitation and
alumina metallurgy industries. The Nhan Co alumina production plant at the IP
has a total investment of 16 trillion VND (752 million USD) and an annual
capacity of 650,000 tonnes. The factory is scheduled to be completed by the
end of 2014.
In the
January-December period of this year, the province’s industrial parks and
clusters saw 189 investment projects in operation with a total investment of
1.7 billion USD and a disbursed capital of 680 million USD, generating jobs
for 5,000-10,000 labourers per year.
According
to orientations given by the provincial authority, the industrial parks and
clusters must be associated with production, processing and consumption of
agro-forestry produce, and focus on industries - craft and small industries
in connection with localities’ strength and potential.
In
order to promote the development of industrial parks and clusters, the
province has mapped out and implemented effectively policies for industry
development to attract more investment to the sector, thus fostering economic
development, creating jobs and improving the income for local people.
The
province gave priority to developing key industries such as coffee, rubber,
cashew, pepper and wood processing; construction materials production and
exploiting sand and stone. These are expected to boost the province’s
economic restructure in the direction of industrialisation and modernisation.
It
also encourages enterprises operating in the locality to use advanced
technologies and equipment in production to raise output and quality, reduce
the price of products and enhance competitiveness in domestic and foreign
markets, thus promoting exports and ensuring sustainable development.-
Experts
seek measures to lure more foreign resources
An
economic expert has stressed the need to propose new policies to lure more
foreign resources and investors with great potential and operating in high
and source technology, to prioritised areas.
Dr.
Bui Van Thach, deputy head of the Party Central Committee’s Economic
Commission, told a recent seminar in
He
said that foreign investment has played an important part in
However,
he noted the poor performance of FDI enterprises such as tax evasion, causing
environmental pollution and failing to ensure workers’ legitimate rights.
Participants
at the event also analysed reasons for limitations in attracting foreign
resources in the context of
Many
of them said that
Meanwhile,
some others underlined the need to improve the efficiency of investment
attraction, given the fact that only 40 percent of the registered capital has
been realised in localities.
SBV
will stabilise national currency: Governor
The
State Bank of Vietnam (SBV) will continue to stabilise the value of the
national currency (VND) and improve its position in investment channels,
considering this a long-term strategy in steering monetary policy, SBV
Governor Nguyen Van Binh has affirmed.
Binh
also advised people to continue to keep their savings in VND in banks because
it is a safe and attractive investment channel, that can ensure the benefits
of the depositors.
This
is also the bank’s target in steering monetary policy, he stressed.
According
to the Governor, the SBV has dealt with nine weak banks in a move to
implement its project to restructure the banking system from now to 2020,
which has been approved by the Prime Minister.
The
bank will continue this task to ensure the project’s mid-term 2015 target and
the long-term target to 2020, he said.
Binh
further said that dealing with bad debts is urgent.
As the
State budget has to serve socio-economic development and social security, the
establishment of the Vietnam Asset Management Company (VAMC) is a suitable
model to settle bad debts, easing the burden on the State budget, he said.
Though
the company has not yet solved the problem completely, it still acts as an
appropriate instrument for banks, enterprises, investors and the whole
economy, he affirmed.
The
bank has also issued policies to support agricultural production. To
facilitate farmers’ access to loans, the SBV has applied a ceiling interest
rate for long-term loans with the current rate being 9 percent.
If
farmers or agricultural enterprises prove that their projects will be
productive, they will be given access to loans, Binh affirmed.-
The
Mekong Delta region needs over 2. 6 trillion VND (124 billion USD) to develop
its aquaculture between now and 2020.
The
information was revealed at a recent seminar to promote investment in the
sector held in Rach Gia city, Kien Giang province by the Ministry of
Agriculture and Rural Development, the Southwestern Steering Committee and
the provincial authorities.
Priority
fields will be tra fish, shrimp and molluse development and diversification
of aquatic products, breeding, infrastructure modernisation, and
establishment of fisheries centres in Can Tho city and Kien Giang province.
The
region will also pay attention to vocational training and technology
development to serve its economic development.
Participants
stressed the need to create links among regional localities while encouraging
investment in fish catching and farming in the Mekong Delta.
It is
necessary to build sustainable and high added value projects for foreign
direct investment (FDI) attraction and issue preferential policies to draw
FDI and official development assistance (ODA), said Dinh Thi Thanh Huyen, a
representative from the agricultural ministry.
Attendees
also gave opinions on what must be done to further promote the development of
the regional aquaculture on par with the region’s potential and strength.
The
Mekong Delta province, with its huge potential for the aquatic development,
contributes importantly to the country’s seafood production and export with
the two main products of shrimp and tra fish.
The
region has a total farming area of over 727,200 ha with an annual output of
2.2 million tonnes, accounting for 70 percent of the country’s total area and
65 percent of the total production, respectively.
Its
aquatic exports make up over 35 percent of the agriculture production value
and 12.35 percent of the production value of all economic sectors in the
Mekong Delta.
The
Mekong Delta region comprises 12 provinces and one centrally-run city with a
total area of 40,000 square kilometres and a population of 18 million. It is
the largest granary and the major aquaculture development region of the
country.
Central
Highlands harvests 1 mln tonnes of coffee beans
The
Central Highland provinces have harvested less than 1 million tonnes of
coffee beans in the 2013-14 crop.
Dak
Lak province, the country’s the largest coffee producer, yielded
330,000-350,000 tonnes of beans, 100,000 tonnes less than the last crop.
Unfavourable
weather, including prolonged drought, is blamed for the decreasing output.
According
to Nedcioffee BV, growers in Vietnam, which has the largest robusta growing
area in the world, can sell 55 percent of their coffee beans at a price of
35,400 VND (1.66 USD) per kilo before the country starts the largest holiday
season, the Lunar New Year festival.
Tuna
exports down nine percent against 2012
Exports
of tuna to
During
the period, the country saw increasing orders only from the European and
Mexican markets out of its ten largest import markets.
The
situation led to a fall of 5.5 percent year on year in export earnings of the
product to 450 million USD.
Last
year, tuna brought home 600 million USD.
Reforms
of fossil fuel fiscal policy - not only price
The
President of Vietnam has committed to eliminating ineffective fossil fuel
subsidies, which is in line with the country’s National Strategy on Green
Growth. However, a lot of challenges remain in realising this goal.
Studies
by the Central Institute on Economic Management (CIEM) showed that
The
country has been maintaining fossil fuel subsidies in both direct and
indirect forms, with indirect subsidies accounting for a larger part, but
difficult to calculate. Subsidies for electricity are the highest, followed
by those for petroleum and oil. These policies are believed to be
unsustainable, as they contribute to climate change, run counter to the trend
of economic development and modernisation, while benefiting better-off people
more than the poor.
State-run
enterprises still monopolise the power sector, and their ineffective
operations are putting pressure on the State budget while reforms in the
sector are taking place at a slow pace.
The
UNDP in
At a
recent symposium on this issue, many experts shared the UNDP’s view and
emphasised that transparency is the key word in the reform process.
Transparency is required in businesses’ financial reports as well as in the
mechanism to define power prices and the management of the fund for
stabilising petroleum prices.
Vice
President of the Vietnam Academy of Social Science Nguyen Quang Thuan said
the phasing out of fuel subsidies is an important part of national economic
restructuring. It will force enterprises to replace outdated technologies
with new energy-saving ones, while encouraging the private sector to invest
in the power industry and boosting the shift to green growth.
He
added that the adjustment of power prices should be done step by step
following a roadmap to allow consumers and enterprises to adapt while
preventing inflation and negative impacts on the economy.
In
order to control the impact of the reform on vulnerable groups in society, it
is recommended that the State continues to improve the social security
network and take interference measures to offset the impact on the poor,
small- and medium-sized enterprises and household businesses, particularly
those operating in the fishery and agricultural sector.
Experts
stressed that the reform should be supported by widespread consensus, and
that communications campaigns are necessary to popularise the negative
impacts of fossil fuel subsidies and raise awareness of effective energy
use.-
The Ho
Chi Minh City hi-tech zone has been identified as the driving force behind
the city’s development with its main tasks of reeling in investment and
expertise and training human resources.
At a
working session with the HCM City hi-tech zone and hi-tech agricultural zone
on December 23, Secretary of the municipal Party Committee Le Thanh Hai said
the city plans to have 24 industrial and processing zones that focus on
developing high technologies to support production.
These
zones are required to look towards creating an environment for research and
product development.
By the
end of 2013, the HCM City hi-tech zone has had 59 valid investment licences
with total investment capital of 2.2 billion USD. In 2013 alone, it received
an investment of 236.8 million USD.
By
2018, it is expected to lure 60 hi-tech projects worth 3 billion USD and by
2020, it aims to train 10,000 engineers and researchers and make an export
value of 20 billion USD.
The
city’s hi-tech agriculture zone, covering 88.17 ha, has so far housed 14
projects with total investment of 450 billion VND (21.15 million USD). It is
focusing on creating high-yield plant and animal varieties and producing
bio-products among others.-
Fishing
industry attracts US$310 mil in FDI
The
fishing industry has so far attracted more than 70 foreign direct investment
(FDI) projects capitalised at over US$310 million, mostly focusing on
aquaculture, processing, feed and fries.
Dinh
Thi Thanh Huyen, a Ministry of Agriculture and Rural Development official,
says these are small projects with an average investment capitalisation of
over US$4.4 million each.
Although
businesses from 18 countries and territories have invested in this industry,
they have yet to cooperate in production and supply chains.
In
addition, FDI in the fishing industry remains modest, especially in the
Mekong River Delta where localities have not built strategic plans for
promoting and managing foreign investment.
Poor
infrastructure, low profit and risks have barred investors from investing in
the field in Vietnam, said Huyen.
She
suggested localities implement a development strategy of the fishing industry
until 2020 to attract hi-tech and environmentally friendly FDI projects, as
well as perfecting incentive investment policies.
She
said businesses need to learn about international investment trends and
investor demand, boost trade promotions and attract ODA sources. Especially,
it is important to diversify investment methods under the Pubic-Private
Partnership (PPP) model.
Huyen
reveals the General Department of Fisheries will co-ordinate with Metro Cash
& Carry Vietnam and other companies like Cargill, Fresh Studio to develop
fishing ponds under a pilot METROGAP model for 2,000 households in the Mekong
Delta city of Can Tho.
A
seafood development centre in Can Tho and a fishing industry centre in Kien
Giang will be established to attract FDI and ODA sources, contributing to
developing the seafood sector in the Mekong River Delta, improving export
turnover and generating jobs for local people.
UAE
– a potential market for Vietnamese goods
Vietnam
Customs believes the United Arab Emirates (UAE) could develop into a
lucrative export market for Vietnamese goods, with ten-month export turnover
totals increasing 136% year-on-year to US$3.5 billion.
The
UAE is currently Vietnam’s seventh largest export market and 17th biggest
trade partner. While the traditionally important export commodities like
mobile phones, garments and textiles, and footwear remain strong,
restructures have seen a transition towards emerging export products such as
electronics and components, wood and timber products, plastics, and electric
cable.
Vietnamese
Trade Counsellor to Dubai-UAE Ngo Khai Hoan credits the positive export
trends to bilateral agreements, including those on Investment Encouragement
and Protection and Double Taxation Avoidance.
The
UAE could serve Vietnamese businesses as an export gateway into the Middle
East and Africa. Markets in these regions are dependent on imported food,
from which they satisfy up to 90% of consumer demand.
Hoan
sees an opening for Vietnamese exporters to proactively increase their market
shares in agricultural produce, tea, coffee, construction materials, and
seafood.
Central
provinces win new FDI projects
Vietnam’s
central provinces have so far attracted 850 foreign direct investment (FDI)
projects capitalised at a total approaching US$25.5 billion.
They
lured 66 new FDI projects this year alone, bringing additional registered
capital worth US$1.5 billion. Binh Dinh Province’s Bus Industrial Centre Co.,
Ltd project boasts US$1 billion from Russian investors.
Trinh
Minh Van, a Ministry of Planning and Investment official, regards 2013 as a
positive year for central provinces’ FDI attraction. Some of the year’s
highlights include added capital for Vung Ro Oil Refinery, a Thai group’s
feasibility study for a mega oil refinery, and Quang Ngai’s Vietnam-Singapore
Industrial Zone (VSIP).
Developing
trademark for Vietnamese rice
Vietnam
needs to build a brand of its rice, or it will lose out to Thailand and other
emerging rice competitors.
The
view was shared by experts and businesses at the 2013 Vietnam Trademark Forum
in Ho Chi Minh City on December 20.
The
forum heard although Vietnam is the world’s third rice exporter, its export
value remains low as the country has yet to create a brand globally.
Delegates
emphasised the importance of tailoring products to consumer demands. They
agreed that to develop a popular brand, businesses need to produce products
that cater to diverse customer tastes and make distinctions.
Nguyen
Trung Thang, President of the Masso Group Management Board, said he believes
the value of rice could be improved by effective marketing strategies.
He
suggested the proper deployment of and respect for branding would help bring
Vietnamese rice level with Thai rice in the eyes of international consumers.
The
forum was part of the government’s Vietnamese Trademark Programme, aimed at
encouraging local products and businesses to invest in developing their
trademarks and brand profiles.
HCM
City addresses Japanese business concerns
HCM
City leaders have affirmed their determination to resolve any difficulties
and foster a favourable local investment environment.
Their
commitment was made at a December 20 roundtable discussion between Japanese
Business Association in HCM City (JBAH) and the City’s investment and trade
promotion centre (ITPC).
The
conference, organised on behalf of HCM City’s Japanese business community,
facilitated a direct dialogue with HCM City authorities on issues encountered
in tax, customs, and transport.
HCM
City People’s Committee Vice President Le Manh Ha, urged the relevant
ministries and agencies to focus on any major problems obstructing the
production and business activities of the city’s Japanese investors.
JBAH
President Yamaguchi Kimio acknowledged HCM City’s recent improvements to its
investment environment and the successful implementation of a number of
municipal action plans.
JBAH
added 72 new members in 2013, bringing its total membership to 678
businesses.
Japan
is currently HCM City’s third biggest foreign investor with 112 projects
capitalised at over US$101 million.
Ninth
Parkson trade centre opens in Vietnam
Parkson
officially opened the Parkson Cantavil Premier Trade Centre, part of the
Cantavil Premier complex, in HCM City’s District 2 on December 20.
The
centre, Parkson’s ninth in Vietnam, has investment capital totalling US$8
million.
Parkson
Vietnam Director General Tham Tuck Choy said the Parkson Cantavil is tailored
to the shopping and entertainment demands of HCM City residents and
represents another step on the path to Parkson becoming synonymous with
shopping mall excellence.
He
remains optimistic about Vietnamese retail, despite the fluctuating real
estate market. Investors are still eagerly seeking retail space.
Parkson
aims to open two or three new Vietnamese centres every year, in locations
including HCM City, Hai Phong, Da Nang, Nha Trang, Can Tho, and Bien Hoa.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Ba, 24 tháng 12, 2013
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