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BUSINESS IN BRIEF 7/1
Dong
Nai develops service area for int’l airport
Speaking
to the Daily during a news briefing on Tuesday, Dinh Quoc Thai, chairman of
the province, said that the scheme is now underway. It will be late if the
province develops the service urban area after the airport project is
approved, he said.
Local
authorities expect to commence work on the project in 2015. However, Thai did
not disclose specific invested capital for the project.
The
Ministry of Transport and local government announced the airport project in
2011. It covers a total area of 5,000 hectares in six communes in Long Thanh
District.
Local
government has suggested the Government to arrange capital for site clearance
and resettlement area construction for around 5,000 families. About 3,000 of
these households will have to leave to make room for construction.
The
resettlement project is expected to kick start in mid 2014 on a total area of
500 hectares. With total investment of VND7 trillion, the project will serve
accommodation of 10,000 residents affected by the project, Thai said.
During
an online conference with the Government last week, authorities of HCMC and
Minister
of Transport Dinh La Thang said that the ministry is drawing up a feasibility
study for the project so the Government will submit it to the Government in
May. Work is expected to start on the airport project in late 2015 or early
2016.
According
to a report of Airports Corporation of Vietnam (ACV) in July, the Government
would raise funds from various sources for the project. In the first phase
from 2014 to 2020, at least US$5.6 billion is needed, of which State
and official development assistance capital will make up around 53%.
ACV
said that it will take around 10 years to approve, prepare for design,
arrange capital, clear up the site and build an international airport.
Therefore, the project should have begun now so the first stage with the
capacity of 25 million passengers a year will be completed in 2020 to share
the burden with Tan Son Nhat.
3G
service fees likely to be hiked further
Despite
consumer worries about the possibility of further 3G service fee rises,
relevant authorities and service suppliers have yet to give a clear answer
but the further fee hikes are foreseeable as the current prices are said to
be equivalent to only 50-60% of the service’s production cost.
When
asked if the recent 3G service fee increase which encountered strong public
reaction affects the next price hikes, Deputy Minister of Information and
Communications Le Nam Thang said that local firms were not allowed to sell
the service at prices lower than the production cost. In addition, they are
not allowed to cover the loss of this kind of service by the profits of
others, in line with the prevalent rules and international treaties signed by
the country.
Lao
Cai casino upgrades
ASX-listed
Donaco International last week signed a binding agreement to take the
majority stake in the Lao Cai International hotel and casino.
According
to the agreement, the Australia-based Donaco International will purchase the
additional 20 per cent stake from the state-owned Sapa Petroleum Tourism
Joint Stock Company, increasing its holding to 95 per cent, from the current
75 per cent. The remaining 5 per cent will continue to be held by the
state-owned firm.
The
transaction marks a major investment expansion by Donaco International – led
by two grandsons of the founder of Asian casino empire Genting Berhad – in
The
Lao Cai International Hotel currently possesses just 34 rooms and eight
gaming tables. It has received approval from the Vietnamese government to
operate up to 300 electronic gaming machines, including 150 slot machines and
150 video gaming machines, but only 36 slot machines are currently in
operation at this time.
Donaco
International, in presentations for its annual general meeting held last
November, reported Lao Cai International has taken over AUS$15.67 million (14
million) in revenue and recorded post-tax profits of AUS$7 million ($6.2
million).
“The
financial results for the year reflect the very strong growth at the
company’s flagship Lao Cai casino property, with a 41 per cent increase in
both revenue and post-tax net profits,” Stuart McGregor, chairman of Donaco
International, said at the annual general meeting. According to the company,
the increase in stake will lead to strong revenue growth in 2014, especially
as the existing hotel and casino were showing strong cash flows and
profitability thanks to the increase of Chinese tourists.
Given
On
November 23, 2013, the company announced it had successfully raised AUS$25
million ($22.4 million) for the construction of the new hotel.
Big
C exports Tet products
Big C
Vietnam has exported four containers of Vietnamese-made food products used in
the Lunar New Year holiday to supermarkets of the Casino Group in
Export
products include rice paper, rice noodle, instant noodle, tea, seasoning
sauce, fish sauce, dried fruit, sesame candy, peanut candy, prawn cracker,
seaweed, wood ear fungus, and beans. There are also frozen products like
shrimps, spring rolls and crab shipped to the importers.
Big C
Vietnam said in a statement that the export of such products aims to provide
overseas Vietnamese with Vietnamese food in the holiday. Big C has helped
local producers and suppliers export food products directly to the Casino
Group, and thus the prices are reasonable when products reach consumers.
Via
Big C, many Vietnamese products were exported to supermarkets of Casino Group
worldwide last year with a value of around US$20 million. Among these, the
export of white-fleshed and red-fleshed dragon fruits increased strongly with
160 containers (equivalent to 3,000 tons) worth US$2.4 million.
Big C
Vietnam’s purchase and export department has so far exported 700 kinds of
products from over 60 suppliers to customers worldwide.
Foodngon
opens first clean foodstuff store in city
Foodngon
Ltd. Co. on Wednesday opened its first foodstuff store selling clean products
at
Food
and foodstuff items of the store such as meat, fish, vegetables and rice
harvested and processed at home all have clear origins and ensure food safety
criteria, Huyen said. For imported goods, Foodngon only sells products with
sufficient documents from foreign suppliers, she remarked.
“In
the near future, we will provide a lot of information on how to purchase
products and how to enjoy meals properly on the firm’s website
www.foodngon.com to help customers save on expenses by avoiding shopping for
unnecessary things,” Huyen said.
Foodngon
plans to expand its safe foodstuff store chain in the central area of the
city from now until 2015.
Few
takers for foreign currency loans
Unlike
in past years when there was great demand from companies for foreign exchange
to pay for imports, this year most do not want to borrow money, making it
hard for banks to find customers.
Do Duy
Thai, general director of Thep Viet Co., said normally steel producers
increase imports of feedstock from early December to prepare for production
in the next four months.
But
the lower consumption of steel products in 2013 had led to high inventory
levels, and as a result the demand for US dollar loans had fallen sharply, he
said.
According
to figures from the State Bank of Viet Nam's HCM City branch, as of December
25, foreign currency outstanding loans were worth VND160.74 trillion (US$7.6
billion), or 16.9 per cent of total bank loans.
It was
much lower than the 22 per cent in 2012 and 27.08 per cent in 2011.
The
SBV's Circular No 37 early last year on enterprises' foreign currency borrowing
causes difficulties for exporters by requiring them to prove their capacity
to repay.
With
demand slumping many banks have slashed lending interest rates to 3-5 per
cent.
VietinBank
offers short-term loans at 3.5-5 per cent.
Eximbank,
ACB, and Sacombank are charging 4-5.5 per cent for short-term loans.
Pham
Hong Hai, deputy director of HSBC Viet Nam, said businesses were forced to
use other bank services to get these loans.
But
they can get dollar loans from foreign banks at 3-4 per cent without having to
use their other services because they have access to cheap funds from their
parents.
3G
fee hikes lawful, says competition authority
The
Vietnam Competition Authority announced that the three telecom giants
VinaPhone, MobiFone and Viettel did not violate the Law on Competition for
revising up third generation (3G) service fees on October 16 after launching
a probe into the case.
The
department and the Ministry of Industry and Trade sent a report of the probe
to the Government last week, saying that inspectors have not detected any
signs of collusion among the three enterprises.
In
addition, there is not enough foundation to conclude that the move is
unreasonable and has caused losses to consumers.
Earlier,
Deputy Prime Minister Hoang Trung Hai has ordered an investigation into the
fee hike after the media continuously suggested that the fees were increased
on the same day and by the same amounts, showing signs of collusion among the
three providers who used their market domination to violate the Competition
Law.
However,
the department said that the 3G fee hikes on October 16 went in line with the
Government’s Decision No. 32. Besides, the three enterprises applied fee hike
procedures separately.
In
addition, the price adjustments had been approved by the Telecom Department
under the Ministry of Information and Communications. Price adjustment and 3G
package provision plans of the enterprises were different from each other,
the department said.
The
department admitted that the 3G suppliers hold over 97% of the market share
but affirmed that they have not abused the dominant position to impose
unreasonable price levels and not caused losses to customers.
On
October 16, the enterprises revised up 3G prices by around 20%, exceeding the
5% level as stipulated by the Decree 116. Notably, there were no sudden
changes that led to an increase in input cost of 3G service, the department
said in the report.
SHTP
to have ready-made workshops next July
Saigon
Hi-Tech Park (SHTP) will have workshop facilities available for lease next
July as committed by an investor who has just received a license to build
workshops for lease.
Lap
Thanh Ready-Built Factory Co., Ltd has received the investment certificate to
build and lease workshops at SHTP with an investment of around VND200
billion. The project will be developed in an area of 5.4 hectares next April
as part of SHTP’s second phase.
There
will be 28 workshops with ground floor and mezzanine having areas of 900 square
meters and 180 square meters each respectively. Besides, each workshop can be
expanded with four more floors.
According
to the authority of SHTP, the project after being put into operation will
provide more choices for potential industrial tenants, especially those with
projects in supporting industries for the hi-tech sector.
Le
Bich Loan, deputy head of the authority, told the Daily earlier that
enterprises operating at SHTP had a high demand of products from supporting
industries which local enterprises still failed to meet.
Therefore,
to encourage enterprises to manufacture such products at SHTP, the authority
offers incentives for investors such as corporate income tax rate of 10% in
15 years, a maximum tax exemption in four years and maximum corporate income
tax reduction of 50% in the nine subsequent years.
Besides,
the authority of SHTP is seeking other incentive policies like soft loans to
support enterprises operating in the sectors of integrated circuits,
precision engineering and automation.
According
to the HCMC Export Processing and Industrial Zones Authority (Hepza), the
area investors hire at exporting processing and industrial zones in HCMC are
51.66 hectares this year while the areas of ready-build workshops for lease
amount to over 55,680 square meters, up nearly 37% from last year.
Instead
of hiring land, investors now tend to hire ready-built workshops that enable
them to start production instantly without spending big sums of money at the
beginning.
Projects
which hire workshops of the kind mainly belong to foreign investors, are of
small and medium scale and of supporting industries. Those investors come to
According
to Hepza, the tendency of hiring workshops is suitable to HCMC’s policy of
calling for investments in supporting industries from small and medium
enterprises.
Besides,
while business conditions remain tough, many local enterprises are scaling
down their production and want to lease parts of their redundant workshops.
Firms
should make use of Internet to boost marketing
As the
Internet has become an effective marketing channel, Vietnamese enterprises
should invest in this channel to get closer to customers, heard a workshop on
communications challenges held on Wednesday in HCMC.
Dang
Dinh Hoang, CEO at Masso Consulting, said at the workshop held by the 2030
Businessmen Club that enterprises should make full use of data provided by
tools of Google to improve the effectiveness of marketing campaigns.
“While
it takes electricity 50 years, telephone 30 years and television 20 years to
penetrate half of the
The
Internet revolution has created a faster, stronger and more effective tool,
and thus enterprises should not stand outside the game as their customers go
online,” Hoang said.
Tran
Thai Binh, chairman of VietAds Company, echoed the point, saying that
enterprises should use keyword search tools of Google such as search engine
optimization (SEO) and Google Analytics.
According
to a survey of Google Analytics, by using SEO enterprises’ websites can have
8,000-16,000 visitors a day. Such a high number of visitors provides
enterprises with opportunities to get closer to potential customers.
At the
workshop, enterprises also shared other experiences in online marketing to
promote the identities of products as well as brands on the Internet.
Amata
plans investment in Quang Ninh
According
to the Government Office’s announcement on including the hi-tech
industrial-urban complex in Quang Ninh in the national socioeconomic
development program,
Deputy
Prime Minister Hoang Trung Hai has asked Quang Ninh to focus on attracting
investments from Amata Corp. as well as from local and foreign investors to
develop infrastructure at Van Don Economic Zone and other existing industrial
parks in the province.
A
source from
The
complex will consist of hi-tech park, free trade zone, research and
development facilities to produce products with added value, educational
facilities and urban areas.
According
to the source, Amata will have a consultancy study and prepare the planning
of the project.
In a
previous visit to
According
to statistics of Quang Ninh, there were around 40 investors coming to the
province last year to study cooperation and investment opportunities. The
sectors receiving much attention from potential investors were infrastructure
for industrial parks, entertainment complex, Van Don airport and Halong-Van
Don expressway.
Quang
Ninh currently has 96 valid foreign direct investment (FDI) projects having
total registered capital of around US$4.54 billion.
The
HCMC government checked 1,295 slow-moving projects last year and decided to
recall 136 projects whose site clearance progress was less than 50% complete,
with the total recalled land of 2,083 hectares, according to the city
government office.
As
recently covered in local media, many infrastructure projects in HCMC have
fallen behind schedule due to problems concerning site clearance and capital
shortage, which affects residents living in the planned areas of projects.
Talking
to the press about solving slow-moving projects, head of the HCMC Government
Office Vo Van Luan said that projects after being recalled would be assigned
to other investors or returned to the residents.
According
to Dao Thi Huong Lan, director of the HCMC Department of Finance, projects
which do not use all capital allocated by the State and fail to ensure the
implementation progress will have capital returned to the State.
For
instance, the project to build a power station for Nhieu Loc-Thi Nghe tidal
sluice was allocated with VND80 billion. However, due to slow site clearance,
only VND40 billion was spent on the project last year and the remaining VND40
billion was returned to the central State Budget.
New
national shipbuilding firm debuts
Shipbuilding
Industry Corporation (SBIC), which is built from the wreckage of the heavily
indebted Vinashin Group, debuted on Monday to officially replace Vinashin
from January 1, 2014.
Speaking
at the debut ceremony on Monday, Deputy Minister of Transport Nguyen Van Cong
said that to survive and develop, SBIC must remember faults of the
now-defunct Vinashin so as to avoid repeating the mistakes.
SBIC
must make thorough improvements and prove that earlier mistakes and
difficulties will be fixed, Cong said.
SBIC
chairman Nguyen Ngoc Su said that Vinashin has made many mistakes and shortcomings
that are not suitable to operations and management of an economic
conglomerate.
In the
coming time, SBIC will handle the remaining debt of around VND10 trillion in
its joint-stock subsidiaries. The debt has been sharply reduced compared to
VND77 trillion by late 2012, Su said.
Thanks
to debt restructuring, the group has obtained VND7.9 trillion in profit this
year. However, this is just first achievements and SBIC still has to face
hefty challenges in the coming time.
Next
year, SBIC expects to report a growth rate of 120% against 2012, of which the
shipbuilding industry will grow by 125%. Although SBIC has retained only
eight shipbuilding firms compared to previous figure of 234 enterprises, its
total shipbuilding capacity still accounts for 70-75% of the nation’s total
capacity, Su added.
Dong
Nai prioritizes hi-tech, eco-friendly projects
Speaking
at a press briefing on last year’s socioeconomic situations and this year’s
plans held on Tuesday, deputy director of
Such a
target is lower than the actual amount attracted last year, which was US$1.64
billion, up 36.6% from 2012. Projects of high technology and supporting
industries accounted for 56% of the total registered capital volume, fitting
the province’s investment attraction policy.
According
to Thanh, around VND7 trillion of local investment is forecast to be poured
in Dong Nai Province this year, which is also lower the actual amount
recorded last year at over VND8 trillion.
Nguyen
Thanh Tri, vice chairman of
“Starting
from this year, investment attraction will be more prudent, and not all
projects will be approved. We will carefully consider criteria and will not
license inappropriate ones,” said Bo Ngoc Thu, director of the provincial
Department of Planning and investment.
*
Technologies of new projects in the sectors of textile, fertilizer,
pesticide, steel, mineral exploitation and processing, thermal power,
footwear, cement, sugar and paper will be controlled tightly in the coming
time.
This
is one of the major aims of the strategy to use clean and eco-friendly
technologies, increase efficiency of energy and natural resources and low
emissions in industrial production to boost green growth and reduce climate
change. The strategy was approved by the Prime Minister on Monday.
Under
Decision 2612 of the Prime Minister, the Ministry of Industry and Trade will
work with relevant agencies and ministries to build and apply technical
criteria concerning clean technology for the sectors which use much energy
and may cause serious pollution to the environment.
With
this strategy, the Government will have a detailed road map for the
application of clean technology and the elimination of outdated technology
for industries.
In
2020, 100% of the new projects in the aforementioned sectors must meet
requirements regarding clean technology and 60-70% production facilities have
to shift to clean technology.
Besides,
all industrial production facilities are required to meet such requirements
in 2030.
In
addition to those sectors, other industries consuming much energy and
polluting the environment such as chemical, metallurgy, mechanical
engineering and building materials will be included in the strategy in the
coming time.
VinaCapital
finds partner
There
is good news for VinaCapital, the asset management firm which plans to
develop the South Hoi An Resort in the central province of Quang Nam – it has
managed to find a partner to replace Genting Berhad Malaysia in the
US$4 billion integrated resort and casino project.
"It
is a famous global player in the casino industry," VIR newspaper quoted
a senior official of the Chu Lai Economic Zone as saying.
"It
has good financial capacity and strong management experience, which makes it
perfectly suited to run an integrated resort complex."
The
official, who declined to be named, said it was not an appropriate time to
reveal the name of the foreign partner, whom VinaCapital recently informed
authorities about.
The
identity would be revealed after the deal is approved by the Government, he
said, adding it would be done in early 2014.
South
Hoi An, which consists of five-star hotels, villas, and electronic gaming
facilities, will become the largest tourism project in Quang
VIR
said the new partner could pick up an 80 per cent stake in the project, with
VinaCapital retaining the rest. Earlier VinaCapital held 80 per cent and
Genting Malaysia Berhad, 20 per cent.
"The
new partner's contribution of 80 per cent of the capital makes it (South Hoi
An Resort project) more feasible," the official said.
He
promised that Quang Nam authorities would co-operate with the investors to
speed up development of the project.
The
project was licensed in late 2010. But Genting suddenly announced its
withdrawal in September 2012, forcing VinaCapital to look for another
partner.
In
August 2013 VinaCapital asked the Chu Lai Economic Zone to scale down the
project and extend the time frame for its operation.
As a
result, the resort is set to shrink to 1,000ha from 1,500ha, while the period
of operation will last until 2035.
In the
first stage, 500 guest rooms will be built and other tourist services
developed on 23ha to the south of
They
will be ready in the fourth quarter of 2015.
With
the real estate market seemingly bottoming in 2013, property companies are
hoping that their difficulties will end and trading volumes will rise this
year.
Le Chi
Hieu, general director of Thu Duc Housing Development Corporation (Thuduc
House), said housing prices were more stable in 2013 and the number of
transactions increased steadily every quarter.
He
said price stability was seen in not only the low-cost housing segment but
also medium and higher ones.
A
recent market survey by Savills Viet
Truong
An Duong, head of the consultancy's market research department, said the
number of apartments sold in 2013 was much higher than in 2012, indicating
buyers' confidence has increased.
Hieu
said homebuyers now understand better the elements of housing prices.
"The
property market will be more stable in 2014 but the market could depend on
State policies," he said.
It is
now a buyers' market, forcing sellers to make improvements, prepare better
before investing, and offer reasonable prices, he added.
Le
Hoang Chau, chairman of the HCM City Real Estate Association, said the market
would remain difficult this year, but things would improve gradually as long
as the
Government's
Resolution No 2 on removing difficulties for businesses and production,
supporting the market, and handling bad debts, is carried out effectively.
Developers
need to change their way of doing business and have to restructure their
investments to choose products in demand from customers.
He
called for disbursement of the central bank's VND30-trillion credit package
for homebuyers and incomplete property projects.
Duong
of Savills Viet
More
stable economic conditions and lower lending rates would be the factors that
help boost transactions in the housing market, he explained.
Nguyen
Van Duc, deputy chairman of the HCM City Real Estate Association and deputy
director of property firm Dat Lanh Co., said the real-estate market was on
the brink of collapse this year.
He
said 60-70 per cent of property firms would collapse while 20-30 per cent
would survive the hard time.
It
would be difficult to "save" the property market, he said, adding
that measures to rescue it should have been taken as early as 2011.
He
dismissed the measures taken in 2013 as "ineffective," saying the
market would only revive when the economy does.
Deputy
PM urges EVN to power up
Deputy
Prime Minister Hoang Trung Hai has requested Electricity of Viet Nam (EVN) to
ensure power supplies for the country this year, while also improving its
service.
In a
speech delivered at the conference to review EVN's operations in 2013 and
launch its programs for this year, held in Ha Noi on Saturday, Hai said the
quality of electricity in some areas had not met demand, despite EVN
providing enough power for
He
urged EVN to focus on restructuring and reviewing the management of
investments, thus reducing costs.
‘The
Government targeted to adjust electricity tariffs according to market
mechanisms. This was the reason that EVN should continue to make its figures
relating to power tariffs public and transparent through independent
audits," he said.
The
deputy PM said Viet Nam now ranked 31st in the world, and fourth in the
Southeast Asia, in terms of electricity consumption, though the quality had
yet to meet demand.
In
addition, the group had been under pressure to arrange capital worth US$20
billion for building two nuclear power plants.
Dang
Hoang An, EVN's deputy general director, said last year the group produced
and bought over 127.8 billion kWh of electricity, posting an 8.47 per cent
year-on-year increase. Of which, its power output was 56.45 billion kWh.
EVN's
figures showed that more than 20.6 million customers signed power purchasing
contracts with electricity companies last year. The percentage of households
using power nationwide reached 98.32 per cent.
Further,
last year power demand for industry and construction only slightly increased,
by 9.35 per cent, while those for consumption among domestic households,
commerce and service sectors rose by 8.66 per cent and 8.49 per cent,
respectively.
However,
An said EVN reported profits of VND172.4 trillion (US$8.2 billion),
increasing 20 per cent last year due to power tariff increases in August and
December.
He
also said average power prices last year were estimated at VND1.498 per kWh,
increasing VND134.5 per kWh against 2012.
EVN
also completed a receiving power grid in remote and rural areas, thus
directly selling electricity to people in rural areas. He also said EVN
planned to produce and buy 140.5 billion kWh of electricity this year.
Its
total investment this year was expected to reach VND123.6 trillion ($5.9
billion), representing a 17.3 per cent increase over the previous year. Of
this, VND90.4 trillion would be invested into electricity production and
power grids, while VND39.9 trillion would be used for paying loans and
interest.
EVN
would invest in five power generation plants, with total capacity of 1,656MW,
including Vinh Tan 2 (2x600MW), Bung River 4 hydropower plant (2x78MW), Hai
Phong 2
(300MW)
and targeting to bring Mong Duong 1 thermal power plant (500MW) and Duyen Hai
1 thermal power plant (600MW) into operation by the end of this year.
EVN
also asked the Government to allow it to increase power tariffs this year.
Answering
the proposal, deputy PM Hai said the country's price for power was no longer
considered cheap, in comparison with the Vietnamese people's income, though
the price remained lower than production costs.
He
said customers required services and competitive power prices.
EVN's
general director Pham Le Thanh said the group would also continue to renew
with its main target to reduce costs in the South.
The
electricity sector is trying to overcome its chronic funds shortage, considered
to be the biggest barrier to its sustainable development.
Power
Master Plan VII, the country's electricity development strategy, envisages
building 54 thermal power plants with a total capacity of 36,000MW by 2020
and 77,950MW by 2030 to meet demand that is rising by 15 per cent annually.
Several
hydro electricity, wind power, and nuclear power plants and electricity
transmission systems will also be built during the period.
The
Viet Nam Energy Association estimates that the industry will need at least
$123.8 billion to achieve the generation target set for 2030. Industry
insiders said that power companies always have difficulty in increasing
revenues since it is not easy for them to raise electricity prices as it has
an inflationary effect.
Most
power projects are undertaken by the EVN, with funding from its own revenues,
domestic and foreign loans, and issuance of bonds.
But it
is no easy task since fund mobilisation regulations are not clear.
EVN's
general director, Duong Quang Thanh, said the Government has not created a
capital mobilisation mechanism for the power sector, while official agencies
do not make accurate forecasts about interest and exchange rates. Power
projects often require huge investments and for long terms.
Bui
Van Thach, deputy head of the Central Economic Committee, said at a recent
seminar that the electricity market had been subsidised for too long and so
electricity selling prices are 10 per cent lower than cost.
According
to Thach, selling electricity at market rates would enable the industry to
overcome the funding problem.
But to
do it, the industry must disclose production costs to persuade power users
that producers must sell at a certain price to survive.
Thach
also stressed the need for quickly creating a competitive electricity
generation market and setting up an electricity retail market by 2020 to
ensure fair returns for investors.
"Many
foreign firms want to invest in power projects in
"If
the price of electricity is increased close to production cost and market
rates, power producers will find it easier to raise capital for their
projects."
Ha
Tinh, Nakhon Phanom firms discuss investment chances
Representatives
of more than 50 enterprises of central
Fields
of business discussed include industry, agriculture, science and technology,
seafood cultivation and processing, health care, education and tourism.
Officials
of the Thai firms expressed their wish for favourable conditions to help them
invest in the Vung Ang and Cau Treo economic zones while Ha Tinh enterprises
said they also had the same hope to do business in
The
two provinces proposed a number of mechanisms and policies to their relevant
authorities to accelerate the economic exchange, trade and investment between
the two countries.-
Quang
Ninh looks to green economy
The
northeastern border
It
will strive to raise its GDP per capita to US$3,600-US$4,000 by 2015,
US$8,000-US$8,500 by 2020 and US$20,000 by 2030.
The
targets were set in an overall plan on Quang Ninh’s socio-economic
development until 2020 and with a vision for 2030 recently approved by the
Prime Minister.
Ha
Long city will form the core of its development strategy, along with two
eastern and western economic corridors, and Mong Cai and Van Don economic
locomotives.The province plans to fully tap advantages of each locality and
ensure cooperation among regions.
Quang
Ninh expects to turn tourism into one of its key economic sectors, receiving
around 10.5 million visitors by 2020. The province will also boost foreign
investment attraction into the assembly, Electronics Manufacturing Service
(EMS), and food processing industries.
It
will prioritise developing the processing and manufacturing industries into
the key growth drivers in the coming years, to raise their added value by 14%
annually.Quang
Ninh
will exploit coal in a sustainable manner with a focus on environment
protection. The coal sector is projected to grow by 3.5% annually from
now till 2015 and 3.1% beyon .
In
recent times, both countries have elevated their fine traditional relations
and are now considered lucrative markets of each other with diverse demands.
Over
the past few years, the country’s exports to the Indian market have seen a
year-on-year improvement of 46.22% to VND320million on average.
Previously,
According
to statistics,
Despite
ranking third among global coffee producers,
From
2008 to 2012, pepper was the commodity with the highest turnover in 2011, up
4.5 times and doubling 2010’s figure.
The
Vietnam Association of Seafood Exporters and Producers (VASEP) said seafood
was the smallest export among
Since
2010,
The
country’s seafood export turnover to
According
to statistics from Vietnam Customs, Vietnamese tra fish was the only product
exported to the Indian market in the first ten months of 2013.
The
seafood sector’s exports encounter difficulties in this big market because
Through
the reviewed period, Vietnam’s total seafood import turnover from India
hitmore than US$12.2 million, up 116% againstthe same period in 2012.
Vietnam
was India’s third largest shrimp exporter in the first six months of 2013.
With
an abundant supply of white-leg shrimp, India has become the main provider of
raw shrimp to some nations like China.
Vietnam
is suffering shortages of materials for food processing due to epidemics.
Vietnam‘s eighth place in Indian shrimp imports in 2012 jumped to third
position in 2013 just after the US and Japan.
India’s
shrimp export value has also increased from US$20.8 million in the six months
of 2012 to US$55.4 million in 2013. In addition, India imported a large
volume of tra fish from Vietnam for consumption at local seafood stores. Many
restaurants in large subways in Mumbai and Delhi and some supermarkets in
major cities in Dina also sell tra fish.
India
is one of the most populous nations in the world, therefore, its demand for
goods are diverse.
Vietnam
boasts great potential for export commodities to the market including cashew
nuts, spicy, green tea, canned food and natural rubber.
Additionally,
handicrafts, construction materials and sanitary equipment, ready-made
clothes are also Vietnam’s export advantages in the international market.
Leading
Vietnamese brands honoured
A
ceremony was held in HCM City on January 5 to present awards to 32 Vietnamese
businesses with their favourite brands voted by consumers.
Nineteen
out of the 32 enterprises which have been honoured for five consecutive years
include Saigontourist, Vietravel, AIG Insurance, Saigon Co.op and the Big C.
These
Businesses
were presented with the “Golden Brand” certification by the HCM City People’s
Committee.
Nguyen
Thi Hong, Vice Chairwoman of the Municipal People’s Committee,acknowledged
thebusinesses’ contribution to local and national socio-economic development.
She
said the Vietnamese business community has made every effort over the years
to change consumers’ shopping habit towards using Made-in-Vietnam products.
It has paid more attention to developing the Vietnamese brand through
improving product and service quality, and enhancing the competitive edge of
Vietnamese goods.
She
urged businesses in the city tocreate strong brands in both domestic and
international markets.
Dong
Nai exports durians, rambutans to Japan
A
cooperative in the southern province of Dong Nai will supply unlimited
amounts of durians and rambutans to Japan’s Aeon supermarket chain in 2014.
Xuan
Thanh agricultural service cooperative and Aeon supermarket representatives
recently signed a contract which takes effect in the 2014 crop.
Pham
Phu Quoc, head of the cooperative, said Aeon supermarket experts had made a
fact-finding trip to Dong Nai to inquire into farming techniques and decided
to purchase durians for VND35,000-40,000 per kilo and rambutans for
VND12,000-13,000 per kilo, a bit higher than domestic market prices.
The
contract will benefit more than 150 local farmers who are expected to sell about
200 tonnes of Long Khanh-branded rambutans and durians to the Japanese
importer.
Long
Khanh is the largest fruit cultivation commune in Dong Nai with 3,000
hectares of rambutans and nearly 1,200 hectares of durians. Last year, the
province harvested 12-13 tonnes of durians per hectare and 27 tonnes of
rambutans per hectare.
The
two types of fruit of the cooperative have been verified by the National
Office of Intellectual Property under the Ministry of Science and Technology
since 2011.
Quoc
said apart from supplying fruits to the Aeon supermarket chain, Long Khanh
commune plans to expand its market nationwide.
Vietsovpetro
targets 5.1 million tonnes of oil in 2014
The
Vietnam-Russia oil and gas joint venture enterprise (Vietsovpetro) aims to
pump up 5.1 million tonnes of oil this year, 460,000 tonnes less than in
2013.
Vietsovpetro
Party Committee Secretary Dang Minh Hong said geology is complicating oil and
gas exploration and exploitation. New oil fields are hard to find. Deep
offshore fields have great potential but are very costly.
To
meet the target, besides its East Sea activities, the joint venture is
continuing operations in the Tho Trang (White Rabbit) Oil Field. Daily oil
capacity is stable at 500
tonnes.
Wells at Ca Tam Oil Field are under exploration and construction on the pipes
linking Thien Ung Oil Field to shore has accelerated.
Technology
at Bach Ho (White Tiger) and Rong (Dragon) Oil Fields was upgraded to
increase efficiency.
“We
will increase exploration and seek new wells in block 091 to make the most of
this block,” said Hong.
The
enterprise exploited 5.56 million tonnes of oil in 2013, 156,000 tonnes
higher than the set target. It contributed US$3 billion to the State budget.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Ba, 7 tháng 1, 2014
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