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BUSINESS IN BRIEF 3/12
Banking
sector tops list of 1000 biggest tax payers
Total
taxes contributed by V1000 reached VND77,000 billion this year, 42% higher
than last year’s level.
The
PetroVietnam Exploration Production Company (PVEP) takes the lead among the
highest tax payers, closely followed by Viettel, Mobifone, PetroVietnam Gas
Joint Stock Corporation (PV Gas) and the Vietnam National Oil and Gas Group
(PetroVietnam).
The
Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank)
is ranked sixth, followed by commercial banks such as Vietnam Bank for
Agriculture and Rural Development (Agribank), JSC Bank for Foreign Trade of
VIetna (Vietcombank), and the Bank for Investment and Development of Vietnam
(BIDV).
The
findings illustrate substantial differences in the amount of tax paid by
leading companies. In addition, government revenue still remains largely
dependent on the top ten tax payers, one third of the entire state budget
comes from 1,000 enterprises.
Top
ten tax paying enterprises in 2013:
1.
The PetroVietnam Exploration Production Company (PVEP)
2.
Military Telcommunications Group
3.
Vietnam Mobile Telecom Services Company (VMS)
4.
PetroVietnam Gas Joint Stock Corporation (PV Gas)
5.
6.
Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank)
7.
Vietnam Bank for Agriculture and Rural Development (Agribank)
8.
Vietnam Dairy Company
9.
JSC Bank for Foreign Trade of VIetna (Vietcombank)
10.
Bank for Investment and Development of
Master
plan plots course of ship industry
The
large-scale maintenance and expansion of existing shipyards is the bedrock of
a master plan on the development of the ship industry to 2020 recently
approved by the prime minister.
The
industry also aims to create ship repair hubs which are well connected with seaport
system and vital international marine routes.
The
plan states that new shipyards should be placed in the northern port cities
of Hai Phong and Quang Ninh. Bach Dang shipyard in the former builds
liquefied petroleum gas carriers and 30,000-tonne ship containers, while Ha
Long ship building factory in the latter specialises in producing
sophisticated and high-tech ships or containers with capacity of up to 70,000
tonnes.
For
facilities in the central region, with the focus on Quang Ngai and Khanh Hoa provinces,
the development strategy will likely be applied to some major ones including
Dung Quat ship building factory.
Ship
repair workshops are planned to develop in line with new shipyards and
seaports, according to the plan, and supporting industry for ship building
will be built within the domestic supporting industry zones.-
Southeastern
region fair links farmers, scientists
An
agriculture and trade fair underway in southern Dong Nai province is
providing a venue for farmers to seek fresh know-how from scientists to
improve their production.
The
week-long fair features a wide range of signature farm produce and aquatic
products of the southeastern region on nearly 400 pavilions, looking to
encourage local consumers consume more locally-made items.
A “Farmers’
bridge” programme was held on November 29 for farmers and representatives
from agricultural co-operatives in the region and localities nearby to get
their questions on modern farming techniques answered by agriculture
officials and scientists.
The
fair will close on December 3.
US$400
mil tyre factory inaugurated in
November
30 saw the opening of Chinese company, Sailun Tires Co, Ltd, in
The
US$400 million factory to produce steel radial and semi-steel radial
tyres in the province was licensed in 2011, on an area of 60 hectares,
in the Phuoc Dong-Boi Loi IP and is the largest foreign-invested company in
Tay Ninh to date.
The
production plant has a design capacity of 150,000 tyres per year and is
expected to generate some 1,000 jobs.
The
executive director highlighted the factory’s application of modern and
advanced production procedures to ensure its products meet the export
requirements of Asian and other global markets.
In an
opening speech Deputy Chairman of the provincial People’s Committee Huynh Van
Quang said that the factory operation has contributed extensively to the
province’s socio-economic development, living conditions and quality of life
After
two years of development and building of infrastructure, the Phuoc Dong-Boi
Loi IP has managed to attracted 11 investment projects including eight
foreign-invested projects and three domestic projects capitalized at US$922
million and VND616 billion respectively. At present, three foreign-invested
projects worth US$500 million have been put into operation
Binh
Duong’s focus of investment in 6 major areas
The
southern
Le
Thanh Cung, Chairman of the Provincial People’s Committee, said the scale of
investment depends on specific needs, technological skills and business
plans.
The
province always encourages businesses to rise more local raw materials,
improve the quality and competitiveness of products, and promote industrial
development in line with urbanization and environment protection policies.
Binh
Duong is expected to attract more than US$1 billion foreign direct investment
(FDI) in 2014. This year’s FDI inflows have already reached US$1,2 billion or
more, bringing the total figure to nearly US$19 billion so far.
Products
of potential strength include garments annually earning more than US$1.5
billion in export revenue, timber products (more than US$1.2 billion) and
others in the footwear, electricity-electronics and food processing sectors.
After
seven years of joining the World Trade Organization (WTO),
The
country’s imports have also jumped by 18 notches to 34th place.
The information
was released at a recent review of WTO members in
SOE
reform tops 2013 business forum’s agenda
The
2013 Vietnam Business Forum, to be held in
Vietnam
Business Forum board member Alain Cany announced the working agenda of the
forum at a press briefing in
He
said the year-end meeting, themed ‘New Phase of Economic Reform: From Agenda
to Action’, is expected to create a forum for government officials and the
domestic and foreign business communities to discuss and seek workable
solutions for further improving
Businesses
expect a stronger legal reform to attract investment
VBF
2013 will also examine the impact of the Trans-Pacific Partnership (TPP) agreement
on
Vu
Tien Loc, President of the Vietnam Chamber of Commerce and Industry, said
there are two long-term positive signs for the economy: the enforcement of
the government’s economic restructuring plan, and
Adhering
to these agreements will pressure
Businesses
have high hopes for the government’s measures to stabilise the macroeconomy,
rein in inflation, lower bank interest rates, and keep the foreign currency
market under control, helping to ease business difficulties.
However,
businesses still face policy and law barriers, affecting their production. A
Ministry of Planning and Investment report shows nearly 55,000 businesses
have gone bankrupt or suspended operations over the past 11 months, a
year-on-year rise of 8.4%.
These
disadvantages affect businesses’ investment plans in 2014 and the restoration
of their trust in
The
Vietnam Business Forum is a regular and close dialogue mechanism between the
government of
Vietnam
attends int’l fair in Italy
More
than 50 Vietnamese businesses have attended the 18th international fine arts
and handicraft fair in
The
fair marks the closing of “Vietnam Days in
At the
opening ceremony on November 30, Ambassador Nguyen Hoang Long said
participating businesses present the image of
Displayed
on 50 Vietnamese stands covering more than 1,000 sq.m are different kinds of
traditional fine arts and handicraft products.
This
is the biggest international fair which has been ever held since 1996.
Last
year’s fair drew more than 3 million visitors to 2,900 stands of 110
countries.
90%
of Vietnamese tea exported in raw form
Ministry
of Industry and Trade’s Market Department Deputy Head Le Viet Nga has
revealed Vietnam’s export tea price is significantly lower than the average
global price, attributing it to more than 90% of tea volumes being exported
in the form of raw materials.
Nga
says despite
Few
businesses have invested in developing trademarks and packaging technologies
to increase the value of products. In addition, the number of tea factories
has trippled or even increased seven or eight fold compared to
capacities of supply materials, leading to a lack of investment in material
zones and low quality products.
Thai
Nguyen Tea Association President Nguyen Thi Nga reports that there is limited
co-ordination between tea growers and businesses and the sector still faces
difficulties in ensuring quality management and food safety and
hygiene.
She
warned that the tea sector should update processing technologies and
production lines to produce competitive tea products while proposing tax
exemption for tea cultivation in hilly regions for five years, and
setting up a price stabilization fund as well as introducing modern
mechanisms to develop sustainable tea production.
Seeking
ways to alleviate difficulties for FDI enterprises
HCM
city’s customs has taken drastic measures to remove investment barriers and
improve conditions for foreign direct investment (FDI) businesses to create a
healthy and competitive business environment.
The
intiative comes after Intel Products Vietnam, a FDI enterprise earning around
US$1.5 billion in revenue after 11 months of this year encountered
difficulties in purchasing import materials from local companies.
Following
complaints about the amount of time and unecessary costs incurred during
import procedures, Vietnam Customs revised their import strategy and came up
with a satisfactory solution for all parties..
One of
the most challenging issues faced by FDI enterprises in
HCM
City Department of Customs Deputy Head Nguyen Huu Nghiep that the
situation was largely attributed to FDI businesses using broker servies
to complete formalities and documentation rather than dealing with the
customs department direct.
He
pledged to examine and solve similar problems for FDI enterprises. Stating
that in the future, the customs sector will implement policies to develop
effective working partnerships between the customs sector and businesses
nationwide, especially when
Thai
and overseas Vietnamese businesses in
The
event, the first of its kind to involve
During
the forum, the central region of Quang Tri, Quang Ngai and Quang
Ambassador
Ngo Duc Thang said bilateral ties between
Last
year, two-way trade surged more than 20 percent to hit US$10 billion, he
noted, adding that in the first 10 months of this year, the figure already
reached US$7.8 billion, up 15 percent year on year.
Investment
is also a bright spot in bilateral cooperation, he said.
According
to Chokdee Kaewsang, Deputy Secretary-General of the Thai Board of
Investment,
Chokdee
also pointed out that enterprises from both countries are enjoying a
favourable business and investment environment. Many bilateral agreements
have been signed, while both countries are participating in many multilateral
cooperation frameworks.
The
conference is an opportunity for businesses from
Gas
prices to rise by VND80,000 from December
Retail
gas prices will increase VND80,000 to VND475,000-485,000 per 12kg canister
from December 1, their highest level since February 2012.
The
Vietnam Gas Association says gas is being sold internationally at more than
US$1,000 per tonne, US$200 per tonne more than earlier in November.
The
Association’s representatives attributed the price hike to this development
as well as speculation by retail businesses.
Over
the past week, northern regional gas prices rose VND22,000 per 12kg canister,
VND10,000 more than the increase in the central region.
Coffee
export value falls 24.8% in eleven months
Vietnamese
coffee exports are estimated at 1.18 million tonnes worth US$2.51 billion
after the first 11 months of 2013, equivalent to year on year drops of 24.4%
in volume and 24.8% in value.
The
Ministry of Agriculture and Rural Development forecasts November’s coffee
export volume will reach 94,000 tonnes worth US$188 million.
The
10-month average coffee export price stood at US$2,138 per tonne, down
0.26% over the same period last year.
Predictions
suggest
The US
Federal Reserse suddenly announced the end of its QE3 stimulus programme last
night, a decision affecting the securities market. Investors could seek
alternatives, including coffee.
Telephone
and spare parts exports hit record US$20.2 bil high
The
Ministry of Planning and Investment’s General Statistics Office announced the
past eleven months have seen
Telephones
and spare parts are currently
The
GSO noted imports of telephones and spare parts imports also rose 70.7%
year-on-year to US$7.6 billion. November’s imports were valued at US$720
million.
The
record export figure surpassed the Ministry of Industry and Trade’s second
quarter target one month ahead of schedule. Telephones and spare parts also
hold
The
Slovakian BTG Holding Group began constructing a beer factory and thermal
power plant on November 29 in Hoa Binh province’s
Lac
Thinh Industrial Park, in Yen Thuy district, covers 220 hectares and has
total investments exceeding EUR45 million. Its modern, high quality
infrastructure includes a hotel, accommodation for managers and workers,
customs and banking agencies, post offices, sports and recreational
facilities, and medical centres.
Its
first two licensed projects are BTG Holding Group’s Slovak beer factory and
thermal power plant.
The
EUR86 million beer factory will produce the internationally renowned beer
label Budweiser Budvar at an annual capacity of 190 million litres. The beer
factory will be
The
thermal power plant will supply electricity to all the industrial park’s
factories. BTG Holding Group has committed to meet EU waste discharge,
environmental protection and renewable fuel standards. The plant construction
project is at a total cost of more than EUR100 million.
November’s
industrial production up 5.7%
The
General Statistics Office has announced
The
country’s November IIP in November rose 5.7% from November last year. The
processing and manufacturing sectors increased by 8.4%, electricity
production and distribution by 8.2% and water supply, sewage, and waste
management by 9.8%.
Conversely,
the mining sector slipped back 4.2%.
The
best performing products over the past eleven months included garments and
textiles (up 21.1%), leather production and its related products (15.3%),
prefabricated metal excluding machinery and equipment (13.4%), vehicles
(12.5%), costume manufacturing (11.4%), electrical equipment (10%), water
supply, sewage and waste management (9.6%), medicines and pharmaceuticals
(9.4%), and beverage production (9%).
Many
industries enjoyed more modest increases, such as electricity production and
distribution (8.6%), paper production and paper products (7.9%), and chemical
production and chemical products (7.1%).
Vietnam
seeks to promote investment in IPs
A
workshop was organised in
The
event was jointly held by the Vietnam Investment Connection JSC and the
Vietnam Chamber of Commerce and Industry.
Over
the past two decades, IPs and EZs in
The
country has a total of 289 IPs and 15 coastal EZs in 59 provinces and cities
across the country, contributing more than US$80 billion of the country’s
annual import-export turnover and accounting for 35% of the economy’s total
import-export turnover.
The
IPs and EZs drew about 70% of the total foreign investment flow into the
country and created jobs for over 2 million labourers.
According
to Deputy Head of the EZ Management Department under the Ministry of Planning
and Investment (MoPI) Tran Duy Dong, as of the end of October, 2013, IPs
nationwide attracted over 4,700 foreign direct investment (FDI) projects with
a total registered capital of US$69.2 billion, equivalent to 80% of the total
FDI capital poured into industrial fields.
Meanwhile,
the number of domestically-invested projects operating in IPs in the period
was 5,100, totalling around US$21.95 billion.
In the
first 10 months of this year, US$9.9 billion was invested in IPs and EZs,
accounting for 70% of total FDI investment in
However,
the development of IPs and EZs is yet to meet expectations as the attraction
of investment was affected by the global economic downturn.
MoPI
Deputy Minister Nguyen Van Trung said the country should increase investment
promotion in the time to come, towards luring investment projects that have
advanced technology and high economic value, especially environmentally
friendly projects and those in the supporting industry field.
In
addition, the country needs to create a favourable investment environment to
improve the confidence of investors and remove difficulties for them, he
added.
It
should also pay attention to upgrading the industrial infrastructure system,
build accommodation and other public facilities for labourers, while planning
to train human resources to satisfy investors’ demands, Trung stressed.
Foreign
NGOs commit aid to Vietnam
Foreign
non-governmental organisations (NGOs) will continue seeking financial and
technical assistance to support
Foreign
NGO representatives made their commitments at a two-day conference that ended
in
The
aid will be used to develop programmes and projects suitable with
NGOs
committed to introducing the international community to
The
Vietnamese side vowed to create the best possible conditions for foreign NGOs
to operate and will work to ensure NGO aid is used and managed effectively
and transparently.
Delegates
shared the view that despite its significant socio-economic development
achievements and its transformation into a middle-income nation,
More
than 900 delegates heard reports on 10 years of cooperation between
ChildFund
Chief Representative Deborah Leaver used the closing ceremony to read back
the conference’s Declaration committing
Deputy
Minister of Foreign Affairs Ha Kim Ngoc emphasised
He
expressed confidence in the ongoing evolution of their relationship in a
manner advancing poverty reduction and sustainable development and—as the
conference Declaration asserts—ultimately promoting international peace,
cooperation, and prosperity.
Participants
praised
Two-way
trade value between
The
figures were revealed at a joint investment seminar in
Finnish
businesses outlined their hopes for long-term relationships with Vietnamese
partners. Vietnamese enterprises said success in
To
meet the US$1 billion target, both sides will strive to effectively implement
the Vietnam-Finland investment promotion and encouragement and the Finnish
Foreign Ministry’s business partnership programme.
They
are also working to balance trade, narrowing the former’s import surplus that
has existed since 2011.
Finnish
Ambassador to Vietnam Kimmo Lahdevirta said the seminar offered advice on the
best way for Vietnamese businesses to penetrate the Finnish market.
Public
investment efficiency needs improving
The
public investment/GDP ratio has fallen from 31.1% in 2012 to 29.1% in 2013, a
decline mirroring the 20.3% to 18.7% year-on-year slide in its State budget
share.
The
Central Institute for Economic Management (CIEM) announced the figures at a
public investment seminar in
Former
CIEM Director Le Ba Xuan said legislation is the foundation for managing
public investment and investment as general. Enforcing these laws has
improved the efficiency of public investment, but legal loopholes still
exist.
Xuan
recommended promulgating a Planning Law to support the Government’s
overarching socio-economic development strategy.
Economist
Nguyen Dinh Anh said restructuring investment should follow the example set
by broader State budget restructuring.
Vietnam
Economic Science Association General Secretary Nguyen Quang Thai said
restructuring public investment will only achieve success if it is
accompanied by renovating the entire approach to implementing annual
socio-economic development plans.
Thai
added an inter-sectoral steering committee headed by the Prime Minister
should be assigned the responsibility for overseeing implementation.
Seminar
participants also discussed the motivations for restructuring public
investment, the relationship between public investment restructuring and
economic restructuring in general, assessing public investment projects in
The
southern
The
province is now home to 207 valid FDI projects with combined registered
capital of more than US$2 billion. Of the total number of the projects, 169
are currently operating.
The
The
province’s 2013 export turnover is estimated at US$1.85 billion, up 17%
compared to the same period in 2012. Industrial zone export value is
approaching US$900 million, 11% higher than last year’s figure.
At
least 3 FDI enterprises boasting significant registered investment capital
are scheduled to enter operation in late 2013, including Sailun Tires Company
(US$400 million), Fiber Brotex Factory (US$98 million), and Youngil Leather
Co. Ltd (US$18 million).
Customs
sector looks to modernise
Relations
between customs offices and enterprises will be furthered in the next two
years in an effort to modernise customs activities, speakers said at a forum
in
Leaders
of
Tran
Quoc Dinh, deputy head of the department's Customs Reform and Modernisation
Board, said that better relations would help improve management as well as
help modernise customs procedures, thus benefiting companies' import-export
activities.
Dinh
said that such relationships was one of several key pillars in developing
customs in the 21st century, with enterprises taking a proactive role to
ensure growth in world trade.
Better
relations would entail several channels for enterprises to show their
feedback about policies and procedures.
With
new platforms between both parties, customs and enterprises would be free to
discuss problems and issues, and work more effectively with each other in the
implementation of customs laws and regulations.
Next
year, a unit will be established to manage relations between customs and
enterprises.
"It
will be professional and work in accordance with laws and legal documents
compiled by customs and enterprises," Dinh said.
During
the dialogue of leaders, the department representatives said that more
conditions would be created for companies to receive prioritised conditions
in export-import activities.
During
the dialogue, organised by
All of
the obstacles that companies face were included, and solutions were offered.
Also,
new regulations proposed in the draft for an amended Customs Law were also
discussed.
High-tech
milk farming needed
Deputy
Minister of Agriculture and Rural Development Nguyen Thi Xuan Thu urged dairy
cow breeders to implement advanced technology in order to increase their
livestock numbers and improve productivity and quality of fresh milk.
At a
conference co-organised on Wednesday in Ha Noi by the
Fresh
milk production currently meets only 28 per cent of demand; moreover, about
20-50 per cent of milk fails to meet the standards of processing companies,
forcing them to import the product from overseas, according to the
agriculture ministry.
Chairman
of the Viet Nam Livestock Association Nguyen Dang Vang said at the conference
that imports totalled roughly US$841 million in 2012, making Viet Nam one of
the top 20 milk-importing countries.
Vang
recommended setting up an educational centre to teach farm owners how to take
advantage of advanced technology.
The
country aimed to have 500,000 milk cows by 2020 under a strategy to develop
the domestic dairy cattle industry approved by the Government in 2008, Thu
said.
There
are an estimated 170,000 milk cows at present, a number that could be vastly
increased by adopting new technology.
Minister
of Science and Technology Nguyen Quan said that advanced technology would
also help milk processing companies become more competitive.
New
firms open with less capital
More
than 71,000 businesses were established in the first 11 months of this year,
a 9.5 per cent increase over the same period last year, according to the
Ministry of Planning and Investment.
However,
total registered capital of the new companies declined by 15.4 per cent in
comparison with the same period last year , reaching only VND360 trillion
(US$17.1 billion).
Last
month alone, over 6,800 new firms were established with total registered
capital of VND37.5 trillion, increasing 14.6 per cent against the previous
month.
The
ministry also said that around 55,000 businesses shut down or suspended
operations in the period, 8.4 per cent over the same period last year
The
service sector is currently struggling because of the slow recovery of the
world economy, coupled with domestic difficulties such as low purchasing
power and decreasing goods prices. Accordingly, the Government has organised
several events to promote tourism and approved development plans in various
regions. Total retail and service revenue in the period reached VND2.386
trillion ($114 million), a 13 per cent increase over the same period last
year.
The
inventory index of the manufacturing and processing industry as a whole rose
9.4 per cent from the same period last year, an optimistic sign for the
economy. The gradual recovery of businesses, especially foreign direct
invested enterprises, boosted the State budget, which totalled an estimated
VND657.6 trillion as of November 15 or 80.6 per cent of the annual target.
Relations
with
Bilateral
relations between
The
statement was made at a conference in
The
forum aimed to promote investment opportunities in
Trinh
Minh Van, director of the ministry's Investment Promotion Centre for Central
Viet Nam, said the event would help Thai businesses understand Viet Nam's
current investment opportunities and encourage further investment in the
country.
Chokedee
Kaewsang, Vice Secretary General of the Board of Investment (BoI) of
Thailand, said Viet Nam's central region was an attractive destination for
foreign investors thanks to its rapid economic growth and abundant natural
resources.
The
Thai Government is committed to encouraging businesses to invest in the
region, he said.
The
Vietnamese Ambassador to Thailand Ngo Duc Thang described the forum as a
first step towards closer ties between localities and businesses in the
central Viet Nam and Thai localities and investors.
He
also emphasised the importance of conducting continuous trade promotion
activities and fact-finding tours to speed up bilateral co-operation.
During
the event, enterprises from both countries shared information and examined
ways to establish partnerships at the forum.
Bilateral
trade and investment has experienced significant gains in the past few years.
Thailand
is currently Viet Nam's ninth largest source of foreign investment with 324
valid projects capitalised at approximately US$6.5 billion.
Trade
turnover reached $7.8 billion in the January-October period, up 15 per cent
year-on-year.
Co.opmart
opens Trang Bang franchise
Saigon
Co.op, owner of the Co.opmart supermarket chain, opened a new outlet in Tay
Ninh Province's Trang Bang town on Friday.
Customers
purchase goods on the opening day, November 29, of Co.opmart Trang Bang.— VNS
Photos Tan Thanh.
Co.opmart
Trang Bang has a total area of more than 5,500 sq.m and an investment of over
VND90 billion (US$4.26 million). It sells more than 30,000 items ranging from
foods to household utensils to cosmetics.
It
also provides price-stabilised goods for local residents and neighbouring
provinces. With this latest addition, the chain now has 65 outlets
nationwide. This is its second outlet in Tay Ninh Province.
Slovakian
firm builds brewery, thermal plant
The
Slovakian BTG Holding Group has begun work on a 100 million euro (US$136
million) beer factory and thermal power plant in Hoa Binh province's Lac
Thinh Industrial Park.
The
park, in Yen Thuy district, covers 220ha and has attracted total investments
exceeding 45 million euro. Its modern, high quality infrastructure includes a
hotel, accommodation for managers and workers, customs and banking agencies,
post offices, sports and recreational facilities, and medical centres. Its
first two licensed projects are BTG Holding Group's Slovak beer factory and
thermal power plant.
The
EUR86 million beer factory will produce 190 million litres a year of
Budweiser Budvar. The factory will be Slovakia's biggest in Asia and will
export its products to South Korea, Japan, and China. The factory is expected
to begin operations in November 2015 and generate 2,000 jobs.
Da
Nang office leasing continues to be sluggish
CBRichard
Ellis Viet Nam Ltd Company (CBRE) has said the office leasing market in
central Da Nang City remained subdued throughout much of 2013.
Vacancies
decreased year-on-year across all sectors at the expense of falling rents in
the Grade B and C sectors.Meanwhile, the Grade A market managed to stabilise
rental yields for the year.
Vacancies
remain in the market despite new projects nearing completion.The Grade A
market will see upward pressure on tenants from limited supply, with no
softening in rents expected.
Regional
forum discusses rising energy demand
Delegates
and experts attending a leading oil and gas event of Southeast Asia yesterday
called for closer cooperation to cope with opportunities and challenges
concerning the rising energy demand in the region.
The
members of ASEAN comprise the world's 5th largest economy, the third largest
population and the 4th largest oil importer, all due to rapid economic development
in recent years.
Nguyen
Quoc Thap, vice president of PetroVietnam, who is also chairman of the Viet
Nam ASEAN Council on Petroleum Conference and Exhibition's National
Committee, said that the ASEAN Economic community would be a reality by 2015.
"The
connectivity between our nations are being strengthened, resources are being
shared, markets are being unified, creating challenges as the business
environment becomes more and more competitive," he said.
"We
see the energy picture of the ASEAN countries as changing and posing
challenges for the members of ASEAN council on petroleum. As the economy
develops, the energy demand is rising at a high speed," Thap said.
Thap
said that Indonesia and Viet Nam, which had been traditionally energy
exporters, now are becoming importers of energy.
Malaysia
also needs more Liquified Natural Gas for domestic consumption.
"Because
of conventional resource constraints, for the energy security of ASEAN
countries, we have to move to unconventional oil and gas substitutes: deep
water exploration, shale gas, coalbed methane and others, and go for the
international investment market," Thap said.
Pham
Nhu Khanh, vice-president of PetroVietnam Exploration and Production
Corporation, in his presentation, said that demand for oil and gas rose day
by day from country to country, region to region.
By
2030, in Asia, China and India will have almost double the demand compared to
what they use now. Other countries in the Americas will also have more
demand.
Mehmet
Ogutcu, chairman of Global Resources Corporation in the UK, suggested that
ASEAN member countries work together to form a strong group.
Energy
demand is growing strongly in Asia, and by 2030, demand will go up to 70 per
cent, he added.
Mehmet
noted that ASEAN is expected to be the fourth largest oil importer in the
world.
This
requires a sustainability-driven business model, and closer cooperation to
cope with opportunities in the region as well as in the world.
He
encouraged more innovation in technologies for efficient exploitation of
current conventional resources and exploration of unconventional resources
both in the region and in the international market.
Also,
cooperation among ASEAN countries and with international players must be
enhanced by sharing technological capabilities, experience and high-quality
human resources.
Property
market shows signs of recovery
The
real-estate market has shown signs of recovery but difficulties remain, said
Minister of Construction Trinh Dinh Dung.
Dung
said in recent months, an increasing number of transactions had followed a
long freeze, but small and medium size apartments were still in short supply.
In
addition, he said, property prices had been sharply cut after going through a
"hot" development period.
Real
estate investors had been forced to lower their prices. This often meant
trimming back the amount of imported luxury items often used in building.
The
minister predicted that sales would increase as prices started matching
buyers' incomes.
Spokespeople
for several property companies agreed that the market had become more
eventful.
Vu
Cuong Quyet, director of Green Land Company's branch in Ha Noi, said
customers had been seeking high quality homes serviced by good playgrounds,
roads, schools and hospitals.
Quyet
added home buyers were even prepared to pay more for such apartments.
Tran
Kien Cuong, general director of Golden Gain Viet Nam Joint Stock Company told
online newspaper vneconomy that customers often decided to buy apartments at
the end of the year. Large remittances from relatives overseas often arrived
at this time.
International
property consultant, Cushman&Walkfield forecast that the estate market
would experience more sales of most types of housing from Vietnamese buyers.
Former
deputy minister of Natural Resources and Environment Dang Hung Vo said the
property market was now no longer controlled by speculators.
Vo
said the quality of homes had improved in the past two years as investors
went out of their way to attract buyers.
He added
that home buyers wanted accommodation at reasonable prices instead of waiting
until prices fell further.
VN
hosts Asia-Pacific e-commerce meeting
Domestic
and foreign experts in e-commerce and information technology exchanged notes
at the 31st Asia Pacific Council for Trade Facilitation and Electronic
Business (AFACT) plenary meeting in HCM City.
EDICOM,
the annual international conference and exhibition of AFACT, featured the
latest technology and information on e-business solutions at nearly 30 booths
during the three-day event which ended yesterday.
Fifteen
projects in trade facilitation and e-business received eASIA awards, a
biennial awards event that recognises efforts within the AFACT community.
The
electronic-bank realisation certificate project of India's Directorate
General of Foreign Trade won first prize in the trade-facilitation category.
Viet
Nam's FPT Information System Company was given first prize in the e-business
in the public sector category for an electronic customs clearance system (e-customs).
Taiwan's
CyberSoft Digital Services Corp was awarded first prize in the e-business in
the private sector category for a secure mobile payment system.
The
first prize for bridging the digital-divide category was given to the APEC
digital opportunity centre project of Taiwan's Institute of Information
Industry.
The
event was organised by the Viet Nam E-commerce and Information Technology
Agency under the Ministry of Industry and Trade and the HCM City Department
of Industry and Trade.
AFACT,
a non-profit, non-political, voluntary and independent organisation, has 19
members in the Asia-Pacific region.
The
2014 APACT meeting will be held in Thailand.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Hai, 2 tháng 12, 2013
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