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BUSINESS
IN BRIEF 26/5
Business owners share views on regional economic deal
Business owners
joined a workshop in
A representative
from the Central Institute for Economic Management shared the positive news
that farming, industry and construction exporters will be able to access
wider markets and they will stand a chance of buying materials at lower costs
and joining the global value chain.
However, some
voiced concern over the possibility of high tariff ceilings for several kinds
of goods, and warned of barriers to a few exporting items.
As
Claudio Dordi,
chief advisor of the European Trade Policy & Investment Support Project
vowed to help
The RCEP is a
proposed free trade agreement between ASEAN member states and
Representatives of
Vietnamese and foreign organisations gathered at a forum in central
The function, part
of a project funded by the US Agency for International Development, was
organised by the Vietnam Chamber of Commerce and Industry (VCCI), the Asia
Foundation and the Disaster Management Centre.
Participants said
to maximise the effectiveness of this partnership model, which involves
cooperation between private enterprises and government agencies, Da Nang
needs to step up the promotion of information to local businesses to raise
their awareness of the issue and build an action plan on PPP for disaster
risk management.
The city was also
urged to create a legal framework defining interests and responsibilities of
businesses and State agencies when engaging in the partnership.
Attendees said that
the implementation in
Nguyen Dien, Deputy
Director of the VCCI office in Da Nang, said climate change is an urgent issue
at present, therefore PPP is necessary to minimise disaster risks to the
business circle, helping them grow sustainably.-
Mekong Delta
localities are set to mechanise up to 80 percent of rice harvest process in
order to reduce post-harvest loss to 12 percent by 2020, according to a plan
by the Ministry of Agriculture and Rural Development.
Toward this goal,
the localities will encourage the manufacturing of combine harvesters and
paddy dryers, while giving financial assistance in the form of loans for
farmers to buy the machines.
By 2020, the
localities expect to have 20,000-25,000 additional combine harvesters and
dryers to ensure 100 percent of harvested paddy rice is dried using machines.
Meanwhile, this
year, the region will double the capacity of their storehouses to 4 million
tonnes, mostly in provinces with high rice outputs of Kien Giang, An Giang,
Long An and Soc Trang, ensuring 90 percent of the country’s export volume.
At the same time,
new technology in rice husking and polishing will be applied to reduce the
rate of broken rice to 0.2 percent, thus increasing the volume of rice with 5
percent of broken rice to 60 percent of the total rice export in 2017 and 70
percent in 2020.
The efforts are
expected to help the region cut their rice production cost by 30,000 VND each
tonne and increase turnover from rice by 500 billion VND per year.
According to the
Mekong Delta Rice Research Institute, the region needs about 20,000 combine
harvesters to serve 1.6 million hectares of rice each crop. However, the
region currently has only 10,000 machines.
Storing capacity of
farmers has yet to meet requirement, resulting in a decrease in rice quality
after 1-2 months, added the institute.
The combined losses
throughout the post-harvest process can climb to more than 20.6 percent,
equivalent to 635 million USD per year, reported the Agricultural
Post-Harvest Engineering and Technology Sub-Institute under the Ministry of
Agriculture and Rural Development.-
Textile and
garment industry eyes rural market
After four years of
implementation of the Buy Vietnamese Goods campaign, garment and textile
enterprises have achieved many positive results.
To achieve
remarkable results, domestic enterprises have continuously invested in
production and focused on renewing designs, developing brand and expanding
distribution system. The campaign on bringing Vietnamese goods to rural areas
has taken effect thanks to reasonable prices and higher product quality
compared to made-in-China goods.
The Vietnam
National Textile and Garment Group (Vinatex) has focused on investing in
production and promoting domestic business through the Vinatexmart
distribution channel.
To date,
Vinatexmart has expanded its distribution system to 82 retail supermarkets in
28 cities and provinces. In addition to Vinatexmart, member units such as
Garco 10, Nha Be Corporation, Viet Tien, Hanosimex and Duc Giang Corporation
has also actively expanded its stores to introduce products with nearly 4,000
sales points.
However, in terms
of remote and rural areas, garment and textile goods’ competitiveness
remained limited. Expanding distribution system in these areas remained
difficult due to low consumption and small distribution channel.
According to Vietnam
Textile and Apparel Association (VITAS), garment and textile exports in 2014
have posted a good growth in key export markets such as the
In addition, when
participating in free trade agreements (FTAs) and the Trans-Pacific
Partnership (TPP) Agreement, garment and textile enterprises will have more
opportunities. Vinatex Deputy General Director Le Tien Truong said that
export growth of 12 percent in 2014 is entirely feasible.
Besides to export
activities, the garment and textile industry will focus on reorganising the
domestic market system. Vinatex’s well-known enterprises such as Viet Tien,
Garco 10 and Nha Be Corporation established their own stores while
medium-sized enterprises need to depend on Vinatexmart to form distribution
chain.
The paper said in
addition, enterprises need to actively find out domestic material resources.
The state should offer mechanisms and policies to encourage the development
of garment and textile enterprises.
HCM
City-based firms need 20,000 workers in June
Enterprises in
The labour demand
is high in business and marketing, services, information technology (IT),
accounting and auditing, electronics and telecommunications, mechanical
engineering, garment and textile, leather footwear and property.
There is a greater
need for skilled workers, with 63 percent of the available jobs requiring
degrees from technical-vocational schools, universities and higher education.
Only 37 percent of the jobs are expected to be given to unskilled labourers.
According to FALMI
Vice Director Tran Anh Tuan, recruitment need has been on the rise in the
finance-banking and property sectors since early this year.
There is a shortage
of qualified workers in the fields of IT, business administration, mechanical
engineering, electronics, and garment and leather footwear.
On the other hand,
supply is outstripping demand in the accounting-auditing,
architecture-construction, personnel-administrative work, and law-legal
sectors.-
Vietnam is seeing
positive growth as a knowledge economy as investments from government
complement those coming in from international technology firms, according to
latest Economic Insight report of the Institute of Chartered Accountants in
England and Wales (ICAEW), a world leading professional membership
organisation that promotes, develops and supports over 142,000 chartered
accountants worldwide.
The report also
points that the country’s capacity is taking off with economic growth
projection hitting 5.8 per cent by 2017.
Mark Billington,
regional director of ICAEW South East Asia, said “Investment in education and
skills is key to building a knowledge economy. As one of the developing
economies of ASEAN,
Mark added that
“This is an area the Vietnamese government can look to improve, especially as
it is the foundation needed in order to eventually develop a highly-skilled,
qualified workforce.”
“Knowledge and
skills are the best investment for a country looking to build long-term
prosperity,” he underscored.
The report states
that once the foundation of a highly educated workforce is set in place, the
extent to which the economy will thrive will depend partly on the amount of
inflow of foreign direct investment which is an area
Accordingly, the
country has seen a recent bout of investments from international technology
firms to set up a chip-testing and assembling facility in Ho Chi Minh City, a
partnership programme with Finland to fund innovation as well as government
efforts to establish a cluster of high-tech small and medium size enterprises
in the country; this presents a hopeful outlook for Vietnam.
The ICAEW Economic
Insight report is produced by Cebr, ICAEW’s partner and economic forecaster.
Commissioned by
ICAEW, the report provides its 142,000 members with a current snapshot of the
region’s economic performance.
The report
undertakes a quarterly review of South East Asian economies, with a focus on
the following countries, namely
Danang
luxury real estate projects hit brick wall
Many plans for
five-star hotels in
Many people in
Danang still remember the big ground-breaking ceremony for Danang Centre and
Han Riverside buildings, planned by Vu Long Chau Real Estate JSC, which was
to cost USD125 million. The project was expected to be complete in 2011.
However, over the
past three years, the project has been left idle and is now covered with wild
grass, waste and unused building materials.
The 48-storey
After several
warnings of land withdrawal from local authorities, the investor promised to
restart the project. However, these plans have been delayed and there has
been no activity on the site.
The VND1 trillion
Golden Square Project was started in January, 2008. To date, however, only
small portions have been completed, and all that is visible are some rusty
posts laid in the foundation.
According to CBRE,
by the end of November 2013, there had been no construction activity on 12
construction projects in
Real estate investors
said that the projects were started at a time of great excitement, but that
this excitement has died down in the context of a weak real estate market.
Tran Ngoc Thanh,
General Director of Dat Xanh Mien Trung Company, said that in the next five
to ten years, demand for luxury apartments in Danang could increase.
Danang authorities
have urged local management agencies to take measures to speed up projects.
Accordingly, the delayed projects must have a commitment for investment
within the year.
The chairman of the
city People’s Committee Van Huu Chien said that many investors have promised
to resume their projects, but that is only solution to the problem at
present.
"We want to
find investors to replace them, but it is not easy,” he noted.
UAE firm to
restart Ha Long Star project
The
The 125-ha urban
and tourism centre project, in the northern border province of Quang Ninh,
with capital of US$550 million, will include a five-star hotel, a luxury
hotel, villas, apartments and a trading centre. The project got off the
ground in 2007, but was delayed due to the investor's financial difficulties.
During a trip to
the UAE last year, Pham Minh Chinh, secretary of the Quang Ninh provincial
Party Committee, and Ali Rashid Lootah, chairman of Nakheel and Limitless,
signed a memorandum of understanding, pledging to carry out the large
project. Later, in May 2013, Sovico Holdings also signed a joint venture
contract with the UAE partner to implement the project.
PM urges
ministries to support enterprises
Three key
ministries need to kick off new integrated lending models, finish guidelines
of corporate income tax deduction, credit guarantee funds and funds for
development of small – and medium-sized enterprises.
The instructions,
which are interpreted in the newly issued Directive No11/CT-TTg, were given
by Prime Minister Nguyen Tan Dung to The State Bank of Viet Nam, the Ministry
of Finance and the Ministry of Planning and Investment on Wednesday, aimed at
supporting the business community to achieve socio-economic targets towards
2015.
The prime minister
instructed the ministries to carry out intensive and coherent policies to set
up and strengthen inter-industry connection, regional collaboration, SMEs and
large corporations to boost sustainable development and support efficiency.
The State Bank of
Within the second
quarter, the Ministry of Finance must finalise guidelines for corporate
income tax exemption and deduction. Till the end of this year, the ministry
is expected to submit proposals that will help enterprises handle inventory
or unpaid items.
The prime minister
required the Ministry of Planning and Investment to accelerate the completion
of paper works and push SMEs Development Fund and SMEs Credit Guarantee Fund
to work as soon as possible.
The Ministry of
Industry and Trade was asked to tighten market administration to ensure a
fair and competitive market for all players.
The directive also
instructed municipal people's committees and ministerial agencies to
cooperate closely to enhance the state administration, keep administration
reforms going, particularly in the sectors of foreign trade, capital
assessment, taxes, investment, construction and natural resources.
Central
economic zone seeks funds
Chu Lai Open
Economic Zone in the central Quang
The two projects
are among the 127 projects in the national list that are waiting for foreign
investment by 2020. The list consisting of five major categories – technical
infrastructure, social infrastructure, agriculture, processing and
preservation, and production and services – was approved by Prime Minister
Nguyen Tan Dung recently.
Accordingly, the
zone has called for foreign direct investment (FDI) of $500 million to build
an aircraft repair and maintenance service centre. Spanning 300 ha in the
commune of Tam Quang, Nui Thanh District, the centre was designed to meet not
only the local aircraft repair and maintenance works but also an increasing
demand from the region and the world.
The zone has also
called for either FDI or joint-venture investment to a $40 million technical
and vocational college, which aimed to provide high-quality human resources
for domestic and FDI firms.
Earlier, Quang Nam
Province reported that it will offer tax exemption on land use for special
projects, such as university dormitories, housing for workers and public
works, in the fields of education, healthcare, culture and sports, adding
that businesses that invests in high-tech projects will enjoy a preferential
tax of 10 per cent during the initial 15 years of the project.
Comprising 24
communes and five industrial parks across 3,500 ha, Chu Lai Open Economic
Zone has been chosen as one of the five key economic zones to be prioritised
in the 2013 – 15 period. Developments in the zone have created jobs for about
50,000 direct and indirect workers in the locality.
According to
statistics, the Chu Lai Open Economic Zone has so far attracted more than 90
projects with a total registered investment of nearly US$1.7 billion,
two-thirds of which have become operational.
Trade
turnover hits a deficit as exports fall back in May
After making a
trade surplus of US$810 million last month, the country reported a trade
deficit of $400 million in May due to the decline of many export staples.
The General
Statistics Office (GSO) estimated that the country exported $12 billion worth
of goods in May, down 8 per cent from April, while its import value inched up
$100 million to touch $12.4 billion.
The foreign direct
investment (FDI) sector reported $1.1 billion in trade surplus this month.
The month of May
saw a fall in the export revenue of many export staples against last month.
The exports of cassava, machinery, equipments and spare parts reported the
highest fall.
In the same month,
the exports of mobile phones and accessories reported the highest value at
$2.5 billion, followed by garments and textiles with nearly $1.5 billion and
footwear with $800 million.
The office also
reported that in the January-to-May period, the country's export value surged
15 per cent year over year to reach $58.5 billion, while the import value
increased 10 per cent to touch $56.8 billion, making a trade surplus of $1.6
billion. The FDI sector had a $15-billion trade surplus in the period.
Cell phones and
accessories topped the list of
The imports of
machinery and equipment in the January-to-May period hit $8.6 billion and the
value of imported clothes and accessories, and footwear reached nearly $5.5
billion.
Inspections
target social housing
The Ministry of
Construction has carried out an inspection on social housing projects in
three major cities, Ha Noi,
The ministry's
decision 548/QD-BXQ was issued early this week to establish a group, headed
by Deputy Minister Nguyen Tran
This follows
findings that apartment prices of several low-income housing schemes have
been higher than commercial projects, although social housing projects were
provided support in land-use rental, taxes and preferential credits.
A recent
investigation by the ministry also revealed misuse of 20 per cent of the land
fund designated for social housing projects.
According to the
ministry, preferential treatments were provided to social housing projects
with the aim of making houses affordable and accessible to low-income
earners. However, facts have revealed that many social housing projects
across the country have failed to meet the expected standards of quality and
prices.
The ministry
pointed out that the inspection was necessary to tackle these issues.
Construction
Minister Trinh Dinh Dung also ordered the municipal construction departments
to send reports on their social housing projects to the inspection group
before the end of this month.
Across the country,
98 social housing projects had been completed and 129 others were underway,
to date, with a total of 55,000 apartments.
Customs
office turns to online procedures
The HCM City
Customs Department has begun its e-customs clearance procedures based on the
VGACCS/VCIS system.
On April 1, the
The VNACCS/VCIS,
based on Japanese models, the Nippon Automated Cargo Clearance System (NACCS)
and Customs Intelligence System (CIS), is a modern e-clearance system
dedicated to electronic processing of air and cargo to enable faster and more
efficient customs clearance.
The implementation
of VNACCS/VCIS in
The first phase
will be implemented at the Sai Gon Port Border Customs Sub-department Region
1, the Sai Gon Port Border Customs Sub-department Region 3 and the New Port
Customs Sub-department.
The Sai Gon Port
Border Customs Sub-department Region II, the Customs Sub department managing
goods used for investment activities, and the Hiep Phuoc Port Customs Sub-department
will apply the VNACCS/VCIS in the second phase.
In the third phase,
the use of the e-customs clearance system will begin at the Tan Son Nhat
International Airport Customs Sub-department, the Customs Sub-department
managing Piece Work Goods, and the Express Delivery Customs Sub-department.
The Sai Gon Port
Border Customs Sub-department Region 4 and the Customs Sub-departments in the
Linh Trung and Tan Thuan Export Processing Zones will participate in the
e-customs clearance system in the fourth phase.
A customs insider,
who declined to be named, said the implementation of e-customs clearance has
been a great success for the VGAC as well as the country's administrative
reforms.
Import-export
companies have also benefited from convenience, accuracy and savings in time
and labour, as well as improved business efficiency.
Since Viet Nam
joined the World Trade Organization in 2007, foreign direct investment in the
country has increased rapidly.
Declaration
documents have risen markedly from 1.16 million in 2002 to 4.16 million in
2010, placing a heavy burden on customs offices.
The Viet Nam
Automated Cargo Clearance System (VNACCS) is aimed to improve the business
environment as it helps reduce administrative costs and the time of handling
customs clearance formalities.
In addition, it
will contribute to stimulating the country's economic growth and
strengthening connectivity between Viet Nam and the global economies through
ASEAN's one-stop-shop mechanism.
Japan firm
gets in on e-bike fad
Japanese electric
bike firm Terra Motors said that it has started manufacturing electric bikes
in Viet Nam in HCM City's Cat Lai industrial Zone.
It said that the
US$ 10 million factory, which is wholly owned by Terra, manufactures
e-scooters and e-bikes. "Terra Motors Viet Nam is planning to
manufacture 9,500 e-scooters and 9,900 e-bikes in 2014," said General
Director of Terra Motors Viet Nam Shingo Hayashi.
He added that Terra
Motors, which is Japan's leading electric bike firm, plans to invest more for
increasing the capacity to 50,000 units in 2015 and 100,000 units in 2016.
"Our main market is Viet Nam, but we also export to the EU and the ASEAN
countries" he stated.
The first model
named A4000i, which has been completely designed in Japan and has new
technology which can link it to an iPhone, will be launched in Viet Nam in
June 2014. Hayashi said the people in Viet Nam are suffering from high
gasoline prices and air pollution.
Founded in 2010,
Terra Motors' headquarters are based in Shibuya, Tokyo, and has branch
offices and factories in Viet Nam and the Philippines.
The company
currently has over 1,000 dealers and 3,000 service networks in Japan.
Ha Noi
luxury unit sales see little improvement
The luxury
apartment market in Ha Noi has had successful transactions in some places
since early this year, but experts noted that the market has not yet actually
recovered.
After a long term
of frozen transactions, the market has seen some successful transactions
early this year.
Some projects of
luxury apartments at prime locations, such as Trung Yen Plaza in Tran Duy
Hung Street and Lancester in Nui Truc Street, had many successful
transactions with buying prices VND200 million higher than the asking prices
per apartment, and even VND500-600 million per apartment in Mandarin Garden
project, reported the Dau tu Bat dong san (Real Estate Investment) newspaper.
Some other projects
at the completion stage have also attracted customers to order buying.
Experts stated that
the successful transactions for luxury apartments were due to small area and
nice location. Development meant that the market has real demand on luxury
apartments.
However, they
pointed out that positive development has happened for some products because
of small area, nice location and on schedule construction, but complete
recovery of the whole luxury apartment market in the capital city has not
occurred because the market still has high inventory.
Vu Cuong Quyet,
general director of North Green Land Service Joint Stock Company specialising
in selling of products at luxury apartment projects, said that the
transactions of the luxury apartment market had increased but small-area
apartments were sold more easily than large-area apartments.
Tran Nhu Trung,
deputy general director of Tan Hoang Minh Group, noted that at present, even
with luxury products customers were asking for small-area apartments.
Meanwhile, the
luxury apartment market had a low rate of small-area apartments; investors
had sold the small-area apartments while still holding a high inventory of
luxury apartments with large-area, he pointed out.
Trung added that
the key was that the investors of luxury apartment should restructure their
products to promote sales.
Truong Chi Kien,
deputy general director of Him Lam Thu Do Joint Stock Company, said that
those who had sold their luxury apartments had to reduce asking prices for
those products during the difficult period of market.
Many luxury
apartment projects had high inventory, while investors must cut losses at
some projects. The luxury apartment market was still facing difficulty and
would be in future, Kien added.
Thirteen apartment
projects have been offering cheap prices of around VND1 billion (US$47,620)
to the Ha Noi property market since last month, including popular, medium and
luxury classes.
The projects are
almost completed or have finished construction on schedule, reported vnmedia
online newspaper.
Many apartment
projects with prices under VND1 billion per unit have attracted customers,
including VP6 Linh Dam project that offered to the market last week and Vien
103-Van Quan project that is expected to hand over apartments to customers in
the third quarter of 2015.
Margin
lending soars in Q1
Total securities
lending at brokerage companies has soared dramatically, raising concern that
over-lending could lead to volatility when the market slumps.
Margin lending at
the 10 biggest securities companies reached VND10.149 trillion ($481 million)
in the first quarter, up 68 per cent over the same period of last year,
according to Vietstock.vn.
HCM Securities Co
(HCM) was the biggest lender with outstanding loans reaching VND1.884
trillion ($89.3 million). ACB Securities Co followed closely with total loans
of VND1.876 trillion ($88.9 million). Saigon Securities Inc (SSI) and MB
Securities (MBS) lent around VND1.5 trillion ($71 million) each.
Margin lending
increased robustly in the first three months of the year along with strong
growth of the stock market. The VN-Index on the HCM Stock Exchange climbed 17
per cent from January to March, while the HNX-Index on the Ha Noi Stock
Exchange jumped nearly 32 per cent.
Liquidity also
soared on both markets, with the trading volume on the HCM City exchange
rising 170 per cent compared to the previous quarter, averaging 132.2 million
shares per session. The market volume on the Ha Noi exchange also doubled
from the last quarter of 2013, averaging 81.2 million shares a day.
Improved trading
also helped raise revenue at securities companies. Total turnover at the top
10 brokerage companies was recorded at VND404 billion ($19.2 million) in the
first quarter, an increase of 63 per cent compared to the previous term.
SSI was the top
earner with revenue of VND76 billion ($3.6 million). HCM came second with
VND69 billion ($3.3 million), followed by VNDirect Securities Co (VND) with
VND48 billion ($2.3 million).
However, the stock
market has continuously fallen since the beginning of May, when the tension
between Viet Nam and China began to escalate.
Analyst Thu Hoa at
Vietstock Finance Co predicted margin calls would not last long as the
long-term market outlook was optimistic and stock investment was considered
the most profitable channel compared with gold, real estate or bank deposits.
In addition, the
lending ratio at securities firms was still considered safe, as their total
margin loans had yet to exceed 200 per cent of their equity, well in line
with State Securities Commission regulations, Hoa said.
Water
transport firms float on mixed results
Eleven of the 17
listed water transportation companies posted profits in the first quarter of
this year but overall performance saw cumulative losses of VND51.44 billion
(US$2.4 million).
The number of
companies incurring losses during the period fell from eight to five, but
combined losses decreased just 4 per cent from the same period last year,
reaching VND186.5 billion ($8.8 million).
Meanwhile, 11
companies recorded total profits of just VND135 billion ($6.4 million), a
drop of 59 per cent compared to the same period last year.
One company posted
a budget neutral result for the quarter.
The top earner was
PetroVietnam Transportation Co (PVT), posting an after-tax profit of more
than VND50 billion ($2.4 million) for the end of March, up 14 per cent over
the same period last year. Total revenue also rose 8 per cent to nearly
VND1.34 trillion ($63.5 million).
The company said it
deployed more cargo ships and oil tankers at the beginning of the year, which
had helped boost its bottom line.
Decline in overall
profits was partly due to decreases in growth of big companies, including
Gemadept (GMD) and Vietnam Petroleum Transport Co (VIP).
GMD posted a net
profit of just VND39.5 billion ($1.9 million) during the period, a
significant decrease compared to a profit of VND146.5 billion ($6.9 million)
in the first quarter of 2013.
Meanwhile, VIP
recorded a loss of nearly VND15 billion ($410,900), while it reported a
profit of VND112 billion ($5.3 million) in the first three months of last
year.
VIP raised its
revenue from selling off property at the Dinh Vu Container Port in northern
Hai Phong City while GMD sold their stakes in Vinh Hao Mineral Water Co and
GMD Tower.
At the other end of
spectrum, some companies performed poorly and were potentially facing
dropping out of the stock market.
Vinaconex
Transportation Co (VCV) dominated losses, down nearly VND95 billion ($4.5
million) but lifting cumulative losses by the end of March to VND196 billion
($9.3 million), exceeding its charter capital of VND110 billion ($5.2
million).
The company has
posted losses since 2011, meaning it will have to de-list shares from May 20.
Viet Nam Ocean
Shipping Co (VOS), Vinaship Co (VNA) and Vitranschart (VST) also face similar
risks of delisting as all companies suffered losses in the first quarter of
this year, with losses ranging from VND10 billion ($474,000) to VND38 billion
($1.8 million).
Tay Ninh
revokes licences of rubber-processing projects
The People's
Committee of the southern Tay Ninh Province has approved the Department of
Planning and Investment's proposal to withdraw the investment licences of two
sluggish rubber-processing projects.
Two domestic
investors, Thanh Liem and Hoan Cau Co in Tan Chau District, had funded the
projects with VND25 billion or US$1.19 million each. The two investors blamed
their projects' slow implementation on difficulties in processing and selling
rubber latex.
The fall in global
rubber prices and the large volume of rubber stock in the province have
forced one-third of the province's rubber processing plants to stop
operations or not run at full capacity.
JICA
provides human resources funding for it sector
Japan International
Cooperation Agency (JICA) has funded 60 million yen (over US$589,000) to help
Ha Noi develop its human resources in the information technology sector during
the period 2014–16.
An Ngoc Thao from
Vietnam Software and IT Services Association (VINASA) reported that the
agency, Japan's Sapporo city and Sapporo IT Fron-SITF were in charge of the
project.
The project
includes preparing textbooks and curriculums for Viet Nam and organising
training courses for core trainers and engineers in Vietnamese IT
enterprises.
A quick survey by
VINASA in nearly 40 Vietnamese IT enterprises revealed that firms, which had
cooperated with Japan in 2012 and 2013, had gained a high growth rate of
30–50 per cent.
VinaCapital
cleans up at APPA awards
VinaCapital on
Thursday was awarded four prizes in the Asia Pacific Property Awards 2014.
The "Best
Development Marketing" award was given to VinaLiving-Viet Nam's first
lifestyle and tailored-living brand, while "the Best Residential
High-Rise Development" award was given to Azura Apartment in Da Nang and
"the Beach Front Enclave" was given to the Ocean Villas.
David Blackhall,
VinaGroup's Real Estate managing director, reported that the international
awards have elevated the global reputation of VinaCapital in property
industry and accentuated the outstanding quality of its projects. VinaCapital
is Viet Nam's leading group in asset and investment management and real
estate development.
Planning
approved for City's Binh Thanh District
The municipal
People's Committee has approved land use planning by 2020 as well as planning
in the five-year period 2011-15 of its Binh Thanh District.
Under the planning,
all of the district's area of 2,070.66 ha will be non-agricultural land.
Of the total,
around 833 ha will be used for infrastructure development, 761 ha will be
urban area and 87 ha for production and business. In the period 2011-20, more
than 233 ha of agricultural land will be converted into non-agricultural
land.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Chủ Nhật, 25 tháng 5, 2014
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