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BUSINESS IN BRIEF 9/1
WB's
reports on Vietnam logistics, waterway transport
The
World Bank (WB) released findings from its study on
Addressing
the launch ceremony, WB Country Director Victoria Kwakwa said as
The
report “Efficient Logistics” looks at how competitive transport and trade
logistics can become a new driver of sustained growth through their positive
impact on productivity and their direct influence on business
competitiveness.
It says
while Vietnam has attained a strong track record in economic growth over the
past 20 years, the drivers that fuelled that growth are rapidly depleting,
making it critical to develop new drivers of growth going forward.
The
report “Facilitating Trade through Competitive, Low Carbon Transport”
examines Vietnam’s inland waterway transport and coastal shipping sector,
which are facing significant under-investment in terms of both capital and
maintenance expenditures.
It
argues that promoting waterborne transport will bring about significant
economies of ship size, lowering emissions of pollutants and greenhouse
gases, as well as other intra-sectoral benefits.
Vinamit
named Outstanding ASEAN Entrepreneur Entering China
The
China-ASEAN Business Council on January 7awarded Vinamit Joint Stock Company
the honorary title of Outstanding ASEAN Entrepreneur Entering China in 2013.
This is
the first time ever that a Vietnamese business has been bestowed with the
award which is part of the councils program aiming to strengthen cooperation
between
Nguyen
Tien Thanh, a representative from Vinamit Joint Stock Company, said that the
company received the prestigious award as a result of its successful
introduction of its products into the Chinese market.
Vinamit’s
products are now available in numerous provinces and cities throughout
The
winning ASEAN businesses are operating in a diversity of fields including
real estate, manufacturing and trade and have actively promoted economic
development at localities in
The
China-ASEAN Business Council has also organized a meeting to boost trade
promotion activities in the
ASEAN
is now the third largest trade partner and the second biggest export market
of
Chinese
firms seek investment opportunities in Danang
Twelve
Chinese businesses involving in construction, mechanics, electronics,
finance, and trade have toured the central city of Dannang to seek investment
and cooperation opportunities.
At a
January 7 reception for Chinese business representatives, municipal leaders
said they hope that the two sides’ potential partnership will produce
positive outcomes and help further enhance the friendship between the two
countries.
By
October, 2013, bilateral trade between
The two
countries pledged to work together to bring the figure to US$60 billion by
2015.
Deputy
Prime Minister Vu Van Ninh was speaking at a January 7 meeting with Bill
Foudy, Vice President, Home and Apparels of Walmart Global Sourcing in
Deputy
PM Ninh spoke highly of Walmart’s plans to source Vietnamese goods for sale
to its customers in the
Vice
President of Home and Apparels of Walmart Global Sourcing Bill Foudy,
told the Deputy PM that his group’s visit aims to seek goods and supplies to
accelerate preparations for opening a Walmart representative office in
Vietnam in the time ahead aiming to boost Vietnam’s exports to major
countries like the US and Canada.
Foudy
affirmed his group’s willingness to transfer technology to assist Vietnamese
enterprises in increasing productivity and business efficiency and improving
their competitiveness.
Draft
The
Ministry of Agriculture and Rural Development (MARD) warns the seafood
inspection legislation the US Government is considering risk negatively
affecting
The
MARD’s surveys of export businesses themselves suggest the industry is
concerned about the likely impacts of the legislation.
If
enacted,
At a
recent commercial councillor meeting in
Nhan
noted Vietnamese businesses would need at least five to seven years to
upgrade their production and processing procedures to US seafood industry
standards.
Vietnamese
seafood exporters would have no US market access during the interim.
The
MARD’s International Cooperation Department believes the US Food and Drug
Administration (FDA)'s draft regulations aim to implement its Food Safety
Modernisation Act.
The
department said businesses should scrutinize and submit their opinions on
amendments to the draft regulation for consideration by the World Trade
Organisation (WTO).
These
opinions should be submitted before January 27.
The US
Department of Agriculture lists it fifth among 134 seafood-exporting nations.
The
Right Honourable UK Minister Grant Shapps believes the
At the
seventh meeting of the Vietnam-UK Joint Economic and Trade Committee (JETCO)
in
Shapps
expressed the
He
shared some experiences of
Deputy
Minister of Industry and Trade Ho Thi Kim Thoa affirmed
Both
sides concurred JETCO’s ambitions should be oriented towards the future
strengthening of bilateral trade.
JETCO
proactively resolves difficulties and hindrances in bilateral relations and
promotes economic and investment ties.
Local
businesses hope for brighter future in 2014
Most of
the businesses at a Vietnam Chamber of Commerce and Industry (VCCI) seminar
in
VCCI
organised the event in the hopes of helping Vietnamese businesses address any
issues hampering their development.
According
to recent Ministry of Planning and Investment statistics, nearly 55,000
businesses were dissolved or suspended operations during the first 11 months
of 2013. But almost 13,000 have already bounced back.
VCCI
Secretary General Pham Thi Thu Hang said local businesses are likely to enjoy
more opportunities in 2014, assisted by up to date market information
increasing operational efficiency.
Seminar
participants highlighted
They
acknowledged a number of persistent shortcomings in the economic
restructuring process itself, insufficient industrial innovation, low
productivity, and input material costs—all of which threaten
They
stressed the importance of business self-sufficiency, apart from State
incentives and support.
Local
businesses should focus on honest assessments of their individual strengths
and map out detailed long-term development plans, they suggested.
Lao
Bao economic zone attracts investment
The
central
Of the
project number, 57 have been invested in the Lao Bao special economic and
commercial zone alone, capitalized at VND 3,600 billion.
In
2014, the Provincial People’s Committee will adopt incentive policies on tax,
vocational training and employment, creating favorable conditions for
investors.
It will
accelerate land clearance and improve infrastructure such as electricity and
water supplies in its industrial zones.
Since
the Lao Bao special economic-commercial zone took shape 15 years ago,
synchronous technical infrastructure has been upgraded to facilitate business
operations.
Can
Tho aims for higher rice exports in 2014
The
Mekong Delta City of Can Tho City plans to export 1 million tonnes of rice in
2014, nearly 100,000 tonnes higher than 2013’s figure, earning US$516.5
million.
The
city considers rice an important key export item, helping to bring in foreign
currency resources, generate jobs and ensure stable incomes for farmers.
City
leaders have directed departments and relevant agencies to ease production
and consumption difficulties for farmers and businesses, while making
recommendations to the central government to support rice production and
sales.
This
year, Can Tho is applying the large-scale rice field model on more than
20,000 hectares in the 2013-14 winter-spring crop. It will sign contracts
with businesses and farmers to ensure sufficient rice for orders.
Currently,
local rice businesses have secured orders to export thousands of tonnes to
the
To
ensure sufficient products for export and domestic consumption during the
upcoming Lunar New Year (Tet) festival, businesses are continuing to purchase
abundant rice from farmers.
In
2013, Can Tho earned US$1,500 billion from exports, including nearly US$500
million from rice.
Thua
Thien-Hue targets 3 trillion VND to IPs
The
Central
The
province also hoped to achieve an industrial production value of about 10
trillion VND (roughly 470 million USD) this year.
To
realise the goals, the province will focus on completing four IP projects
approved by the Government, including Chan May industrial park in Phu Loc
district, Phu Bai industrial park in Huong Thuy town, Tu Ha industrial park
in Huong Tra town and Phong Dien industrial park in Phong Dien district.
It will
also allocate land lots to develop other industrial parks in the districts of
Phu Vang, Phu Loc and Quang Dien, while establishing 16 small-scale
industrial clusters in the province with a total area of about 650 ha.
In
2013, the province granted investment certificate to nine new projects and
allow three projects increase their investment capital, with a total
registered capital of almost 1.9 trillion VND (89.3 million USD).
The
province’s industrial parks have so far attracted 87 projects with a total
investment capital of 17.7 trillion VND (about 831.9 million USD).-
Updated
techniques increase agricultural production value
The
value of agricultural production has risen because of advanced farming
techniques, according to the city's Department of Agriculture and Rural
Development.
The
city's land for farming fell to 55,000ha in 2012 and to 51,300ha in 2013.
Also, agricultural revenue increased to 239 million VND (11,300 USD) per ha
in 2012 and to 282 million USD (13,300 USD) last year.
Le
Thanh Liem, the department director, said revenue had risen an average of 19
per cent a year in the 2009-13 period.
Farmers
also decided to switch to high-value crops like flowers and ornamental
plants.
In
addition, the city's 88-ha Agricultural Hi-Tech Park in Cu Chi District
conducted research on new imported plants, developed agricultural production
models, and transferred farming techniques to farmers over the past years.
Last
year the park succeeded in planting many new imported plants, including 19
kinds of pear from the
Pham
Dinh Dung, director of the Research and Development Centre for Agriculture
High-Technology under the city's Agricultural Hi-Tech Park, said the centre
recently transferred more than 2 million orchid seedlings and 201,000 red
chili seedlings to farmers.
The
centre has been transferring farming techniques and clean seedlings of
several plants, including orchids, cucumber, leaf vegetables and fruits, to
households and farms in outlying districts.
New
farming methods had helped farmers receive a yield two times higher than
traditional farming methods, he said.
The
centre has also worked with enterprises to guarantee outlets for farmers, he
said.
Nguyen
Van Nga, who owns 3,500sq.m of farmland in Cu Chi District's Tan Thong Hoi
Commune, said after he was offered a training course to grow orchids, he had
used 3,000 sq.m of his farmland to grow the flower for three years.
Previously,
Nga planted rice and cash crops and had a low income.
Nga
said he now earned an income of 20-25 million VND a month.
"My
family life has improved," he said.
Like
Nga, many farmers in Tan Thong Hoi have also escaped poverty by using new
agricultural production models.
Textile,
garment exports surpass yearly target
Such an
outcome put the commodities at the top of
The
sector also maintained considerable growth in major markets such as the
Last
year,
This
market alone generated more than eight billion USD for
Vice
Chairman of the Vietnam Textile and Apparel Association (Vitas) Le Tien
Truong said the outcomes showed that the sector had managed to overcome
hardships thanks to the right steps to enhance competitiveness, look for
niche markets while consolidating its share in key markets.
The
growth in 2013 was attributable to investment in expansion made by
businesses, thus boosting the sector’s production, he added.
For
example, the Hue Textile Garment Joint Stock Company (Huegatex) last year
spent 50 billion VND (2.4 million USD) on buying new machinery, creating new
products and enhancing its factory’s productivity despite the unstable
situation of the global market and growing input costs, according to Huegatex
Deputy General Director Ho Van Dien.
Meanwhile,
the Hanoi Textile Garment Join Stock Company put into operation a fabric
factory worth 420 billion VND (20 million USD) in July 2013. The factory
exported 100 tonnes of fibre, contributing to the firm’s 1.9 trillion VND
(90.5 million USD) of turnover last year.
The
Vitas leader said business outcomes in 2013 will drive enterprises to adjust
their export structures to each market’s taste and speed up their production
in 2014.-
Ca
Mau to pour 500 bln VND into urban upgrade
Ca Mau
city of the Mekong Delta
Accordingly,
the city will construct the Nguyen Trai-Lam Thanh Mau section of Ring Road 1
and another section connecting
The
investment will also be used to broaden a section of
In
addition, the locality will reorder the planning of night market areas and
others to facilitate local people’s consumption on the occasion of the
upcoming Tet (Lunar New Year) holiday.
Chairman
of the Ca Mau city People’s Committee Ho Trung Viet said the works will help
to gradually perfect urban infrastructure in the city and create a foundation
for local socio-economic development.-
State
Bank tightens rules on use of foreign currencies
The
State Bank of Vietnam (SBV) has issued regulations on restricting the use of
foreign currencies in the country.
Under
Circular 32/2013/TT-NHNN, which will take effect on February 10, in the
territory of Vietnam, except for cases allowed, all transactions, payments,
quotations, advertisements, pricing, prices in contracts, agreements and
similar forms (including conversion or adjustment of prices of goods and
services, the value of contracts and agreements) of residents and non-residents
will not be allowed to be conducted using foreign currencies.
Currently,
Circular 16 also specifies those cases in which foreign currency exchanges
are allowed in Vietnam and in which banks, non-bank credit institutions and
branches of foreign banks licensed to do business and provide foreign
exchange services are allowed to perform transactions, payments, quotations,
advertisements, pricing, prices in contracts, agreements in foreign exchange
within the scope of business and foreign exchange services permitted by the
SBV in accordance with the law.
Other
cases that allow foreign exchange transactions will be considered and
approved by the SBV Governor on the basis of actual situations and the
necessities arising with each case.
The
central bank recently confirmed that it will seek to maintain the USD/VND
exchange rate to within 2 percent of current value next year. This follows
the VND being depreciated by 1 percent in 2013.
The
central bank weakened the dong by 1 percent against the USD in June last year,
in what it said was a move to accurately reflect supply and demand on foreign
currencies.
The
prevalence of USD in the Vietnamese economy had decreased significantly since
the end of 2011 and the exchange rates had been stabilised. The decline of
dollarisation was seen in the narrowing ratio of foreign currency deposits
against total money supply. The figure fell from 30 percent in 1990, to 15.8
percent by the end of 2011, most recently dropping to 12 percent by the end
of August 2013, according to a SBV statement.
The
central bank has also taken measures this year to stabilise exchange rates
and the foreign exchange market, helping to raise the country's forex
reserves, support the implementation of monetary policy and control
inflation.-
Fisheries
look to net more exports on surging value
Vietnam
will continue expanding its seafood export market in 2014 after successfully
increasing export value last year, noted the Vietnam Association Seafood
Exporters and Producers (VASEP).
Nguyen
Hoai
exports,
especially value-added products, to
In
addition, local exporters will continue driving seafood exports to
traditional markets such as the
This
year, if trade agreements such as the Trans-Pacific Partnership (TPP) and the
free trade agreement between
To make
use of these advantages for boosting exports, local seafood exporters should
focus on increasing output and improving quality further for export seafood
products, he said.
Under
the agreements, he explained, tariffs are zero or at a low level but the
export markets will add stricter non-tariff barriers for exported products,
including barriers based on origin, quality standards, food hygiene and
safety, and standards of preservation and packaging.
According
to the Ministry of Agriculture and Rural Development,
The
Meanwhile,
the export value of seafood to
In
October 2013,
The
value of shrimp and prawn exports last year gained a year-on-year increase of
40 percent, while other kinds of seafood products remained at the same rate
or even reduced because of high demand for shrimp on the world market and the
low supply from other producers due to a shrimp disease outbreak.
The
nation will continue to see sustainable development of the prawn and shrimp
market for the near future, he said, because local shrimp exporters have had
a low supply
of
prawn and shrimp in recent years as Chinese traders have purchased these for
export to
The
association has called on the State to adopt policies that encourage the
export of value-added seafood products to
Hau
Giang plants seeds for rice-husk power plant
Huynh
Thanh Hoang, deputy director of Hau Giang’s Department of Industry and Trade,
told VIR the joint venture was preparing to begin construction work.
The
first rice husk generated power plant worth roughly $31 million is located in
the rice basket of Hau Giang province. The investor plans to build the 10
megawatt plant within the next two years using techniques and equipment
provided by the
Pham
Trong Thuc, head of the Ministry of Industry and Trade’s Renewable Energy
said that the rice husk generated power plant in Hau Giang was the first
project in the wider plan. Last year, Hau Giang Power Plant Joint Stock
Company and
Chong
Che Chek, business director of C.H.E was recently quoted by foreign media as
saying that the plants would be installed in four phases over five years.
“This is the power plant of its kind to be built in
Although
Fines
up to VND100 mln for e-commerce regulation breach
Individuals
can be fined from VND10-50 million ($470-2,350) while organizations and
businesses have to pay VND10-100 million ($470-4,700) if they violate
regulations on establishing websites without registration with authorized
State agencies.
This is
stated in Decree 185/2013/ND-CP, which came into effect on January 1, 2014.
The
fines are also applied when individuals, organizations and businesses do not
inform or register with the authorized agencies about the changes in
information related to their websites supplying e-commerce services.
In
addition, the fines are also imposed on individuals, organizations and
businesses, who take over e-commerce websites from others without
registration, supply e-commerce services which are not registered, or
different from their registered ones or wrongly communicated, as well as
those who use e-commerce to sell counterfeits, illegally copyrighted and
prohibited goods and services.
The
violated websites will be closed from six to twelve months whilst exhibits
and domain names ‘.vn’ are confiscated. The website owners have to retrieve
damages they cause and refund illegal interests gained from their violations.
Japanese
investment fund CyberAgent Ventures published news of its investment in
online selling solutions Bizweb.vn of Viet Nam's DKT Technology Joint Stock
Company on January 7.
The
fund, which is under the management of CyberAgent Group, has not revealed
details about the agreement, but announced it would invest US$20 million in
Nguyen
Manh Dung, head of
"Bizweb.vn
is an online commercial solution which has developed rapidly. CyberAgent
Ventures commits to pushing the growth of this solution by taking advantage
of our resources across
Tran
Trong Tuyen, chief executive officer of Bizweb, said that choosing CyberAgent
as its investor in 2014 helped the online payment company to move deeply into
the Vietnamese e-commerce market and position itself globally in the future.
Bizweb.vn,
officially launched in April 2010, has attracted 4,000 customers from 30
different fields, as of January 2014. This easy-to-use solution integrates
useful tools, such as Bizmail, to send emails to targeted customers, and
Vietclick advertising network, which publishes advertisements for products on
more than 1,000 websites. It also provides clients with a software version
for mobile devices.
Bizweb
was awarded third prize in the field of information technology products at
the Nhan Tai Dat Viet 2013 (Vietnamese Talent Awards 2013) in November in Ha
Noi.
Overseas
Vietnamese set to enjoy Tet goodies
Several
domestic companies are exporting a variety of traditional Tet goods for the
Vietnamese community abroad.
Tran
Thanh Toan, owner of Tran Gia establishment, which produces banh chung
(square glutinous rice cakes) in southern
A
representative of Hai Minh Company in HCM City's Cu Chi District said his
company had already shipped several consignments of banh trang (griddle
cakes), banh da (rice pancakes), cu kieu (pickled scallion heads) and other
common Tet foods to several countries.
The
French-owned Big C supermarket exported four containers of dried and frozen
foodstuffs as well as Tet specialties to supermarkets in
The
exported products include griddle cakes, dried vermicelli, noodles, teas,
soya sauce, fish sauce, dried fruits, shrimp crackers, frozen sugpo prawns,
spring rolls, ha cao (a kind of Chinese dumpling), crab meat and potato
shrimp roll.
Many
Vietnamese goods have been exported to Casino Group branches since 1997, a
company representative said, adding that the exports totalled US$20 million
last year.
Other
companies, including Vinamit Joint Stock Company, Tan Dong Trade Production
Co and Huong Canh Co, are filling export orders for Tet goods.
In
order for the country to maintain a high export rate, food hygiene and safety
must be a top priority during the production process as well as in
preservation and transport, Toan and other producers said.
Several
local food export company owners hope to earn reputations for quality during
the holiday period so they can increase exports throughout the year.
VN
firms need to prepare for hidden risks
Vietnamese
enterprises have done well to improve productivity and sales in the face of
several challenges last year, but they need to temper optimism for 2014 with
awareness of risks that lie ahead, a new report says.
The
Viet Nam Chamber of Commerce and Industry (VCCI)'s Report on Corporate
Finance Competence says local firms need to prepare well for coping with
hidden risks associated with the expected economic revival even as they look
to take advantage of new investment and trade opportunities.
The report
noted that despite several positive achievements, Vietnamese enterprises
reduced their staff numbers as well as bank loans despite lower borrowing
costs.
In an
online discussion of the report yesterday afternoon, VCCI General Secretary
Pham Thi Thu Hang said that an upward tick in the Corporate Sentiment Index
showed enterprises were looking forward to brighter economic prospects this
year.
Their
optimism was based on positive results from enterprise reform that have
"sorted out good resources for development," including a rise in
orders and infrastructural improvements, he said.
However,
Nguyen Truong Son, vice chairman of the Viet Nam Young Entrepreneurs'
Association, predicted that difficulties would dominate commerce this year.
His
view was echoed by Vo Tri Thanh, Deputy Director of the Central Institute for
Economic Management (CIEM), who warned that the slow recovery of the global
economy and the moves of emerging economies like
Vietnamese
enterprises should take into account the impacts of speculation as they built
strategies for short-term development, Thanh said.
He said
local entrepreneurs should learn to adapt to global trends and apply them
well in the local context.
Meanwhile,
Hang highlighted the need for long-term development strategies if local firms
are to benefit fully from the Government's policies.
Nguyen
Trong Hieu, deputy head of Enterprises Development Department under the
Ministry of Planning and Investment, proposed five measures to improve the
environment for domestic enterprises in 2014.
These
included the completion of a comprehensive legal framework that supports
development of Small and Medium Enterprises (SMEs), including pricing and
advertising regulations; the establishment of an SME Development Fund and
credit guarantee mechanism to facilitate the sector's access to badly needed
capital; and the promotion of a transparent information system to connect
enterprises, facilitating the exchange of products and services.
SAP
recognises
FPT
Information System Company (FPT IS) and Germany-based software provider SAP
launched their enterprise resource planning (ERP) solutions for Vietnamese
steel companies on January 6.
Called
FPT SAP Express Steel Solution (FPT.SAP iFESS), this is the first specialised
ERP solutions in
Also,
FPT IS has made available its solutions in data storage on SAP's website for
customers to access.
The
solutions, which were developed in 10 months, aim to shorten the time to
implement ERP for steel companies to 18 weeks.
With a
variety of subsystems, such as financial accounting and management
accounting, ERP helps firms save both time and expenses, noted officials.
Corruption
weakens anti-smuggling fight
The
fight against cross-border smuggling is complicated by several factors
including wrongdoings in anti-trafficking operations, officials admitted at a
conference yesterday.
The
conference, broadcast live on radio and television channels, was held by the
National Assembly Economics Committee for its members to question relevant
ministries and other agencies about the situation regarding cross-border
smuggling and discuss potential solutions.
Vu Huy
Hoang, Minister of Industry and Trade, admitted that cross-border smuggling
continued to allow the entry of many counterfeit and low-quality goods into
the domestic market.
He said
that over the last three years, authorities had registered nearly 828,500
cases of smuggling, counterfeit products and commercial cheating. Confiscated
products include firecrackers, wildlife, rare timber and beverages like wine,
beer and soft drinks.
Hoang
called for trade associations to be more proactive in the fight against
smuggling, saying domestic firms needed to protect themselves and develop
trademarks, "enhancing the competitiveness of Vietnamese products."
He also
urged the establishment of a forum where authorities and enterprises can
discuss measures to prevent smuggling.
Relevant
agencies should develop specific policies for border areas so that local
people can have stable jobs and improve their living standards, which will
prevent them from joining hands with smugglers, he said.
Hoang
admitted that there was corruption among the anti-smuggling forces, including
market watchdogs, but this was a minority.
He
blamed a shortage of market watchdogs for the problem, noting that at just
5,200, border localities were understaffed to carry out the work of detecting
and preventing cross-border smuggling.
"We
have asked the Government to recruit another 1,000 market management
officials for key spots," he said.
Deputy
Tran Du Lich of
"The
important thing is to cut the root of the problem by finding the heads of the
smuggling rings," Lich said, adding that right now, authorities were
only apprehending the smugglers, not those controlling the operations.
Lieutenant
general Nguyen Tien Luc, deputy head of the Ministry of Public Security's
Crime Prevention Bureau, said that the current legal framework was not strong
enough to prevent smuggling.
He
called for stricter punishments for violations.
Luc
also blamed an overlap in policies that led to difficulties in controlling
and preventing smuggling, especially in border areas.
In her
concluding remarks, Nguyen Thi Kim Ngan, Vice Chairwoman of the National
Assembly, stressed the need to modify and supplement policies to promote
production of quality goods by domestic enterprises.
She
also urged ministries, sectors and local authorities to enhance their
responsibility and commitment to preventing smuggling and trade fraud.
Logistics
sector needs to up efficiency
While
World
Bank transport specialist Luis Blancas, leading author of the report, said
that logistics operations in
This
primarily due to the unpredictability of supply chains, which increased
logistics costs by making it necessary for business to carry more inventory
than they otherwise would, he explained.
Logistics
costs in
"The
key root causes of
Moreover,
Blancas added,
Compounding
the problem, shippers and logistics service providers in
Senior
governance specialist of the World Bank in Viet Nam James Anderson said
corruption was the biggest obstacle for trucking firms, according to the
bank's
About 8
per cent of the costs of trucking firms go to "facilitation
payment" such as bribes, while fuel costs amount to roughly 65 per cent
and operating costs and salaries 16 per cent.
To make
logistics more efficient, the report recommended minimising paper-based
processes and ensuring transparent regulations, as well as defining and
managing "multi-modal logistic corridors" with adequate
infrastructure and minimal regulatory delays.
Transport
Deputy Minister Nguyen Van Cong said that among the approximately 1,000
logistics firms operating in the country, foreign ones still held most of the
market share, while Vietnamese firms were mostly small and less competitive
in terms of management and finance.
He
added that the government of
Also
yesterday, the World Bank released a report that examines
According
to this report, these sectors face significant under-investment in terms of
capital and maintenance expenditures. Promoting waterborne transport can
bring about significant economies of ship size, lowering emissions of
pollutants and greenhouse gases.
Quang
Ninh to boast foreign-investment windfall
North-eastern
Quang Ninh province is expected to reap a heavy foreign direct investment
crop in 2014.
According
to the provincial Department of Planning and Investment, after months of
discussion, five large scale foreign invested projects look likely to be
implemented in Quang Ninh in 2014.
A Hong
Kong-backed joint venture between Hai Ha International Investment and Hai Ha
Industrial Park is planning a $953.6 million project to build infrastructure
works on
3,300
hectares of land in Hai Ha Industrial Park, while another Hong Kong company,
Black Peony is also building a $100 million jean cloth producing factory at
Chinese
investors are also appearing with a joint venture between Chin Pech, Kinyet
Pelated Enterprises and Dong Guan Kynyet Metal Products investing in a $30
million project to produce automobile wiper blades at
Joining
the list is
While
these are the showcase projects, Nguyen Duc Tiep, deputy head of the
province’s Investment Promotion Agency’s Investment Promotion Division
announced that many smaller projects would also increase their investment
capital.
“Many
other foreign invested enterprises are planning to increase investment
capital in 2014, having poured money into projects in 2013,” he told VIR.
For
example, VFM-Wilmar, a
The
Singaporean-Vietnamese joint venture Cai Lan Oils and Fats Industries also
reported that it would additionally invest nearly $3 million into production
in 2014, in addition to the $11.3 million they spent in 2013.
Hong
Kong-backed cloth maker Texhong Ngan Long said it was planning to invest
another $90 million in making assorted cotton, natural and artificial fibres,
cloth and by-products in 2014. The company began its investment in 2013 with
a $120 million factory.
In July
2013, Texhong began operation of the $200 million first phase of a fabrics
plant, while also beginning construction of the $400 million second phase of
this plant, which will become operational in 2014.
Japanese-backed
Yazaki, which produces electric wiring for the automobile industry, reported
that it would invest $35 million into production expansion in Quang Ninh
in 2014.
“In
2013, we also received a record number of more than 50 groups of foreign
investors looking to invest into projects of property, tourism, entertainment
and urban development,” Tiep said.
Quang
Ninh is now on the radar of many other foreign enterprises. They include US’
Las Vegas Sands,
that
want to build an entertainment complex,
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Tư, 8 tháng 1, 2014
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