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BUSINESS
IN BRIEF 14/8
Casino ban
may be lifted for Vietnamese citizens
The latest draft
decree issued by the Ministry of Finance proposes allowing Vietnamese
residents to enter casinos.
According to the
draft, residents aged 21 or over, and considered 'financially capable', may
be allowed to enter casinos.
The details of the
draft regulation have not been announced and the prime minister will have the
final decision as to which customers will be allowed to visit casinos.
Currently, casinos
in
NA Justice
Committee Chairman Nguyen Van Hien said, "It is a matter of fact that
Vietnamese citizens are already flocking to casinos in other countries. We
need to legalise gambling for our own citizens with foresight, because of the
growth of criminal elements around the industry without strict
management."
Requirements for
investors opening new casinos system would also be loosened. Previously,
gaming companies were required to have a minimum of 10 years experience in
the industry to commit to investments of no less than USD4 billion. This
stipulation made it nearly impossible for Vietnamese firms to operate in the
industry.
The new draft only
requires 5 years of experience. Other details from the draft regulation have
also been leaked, such as a minimum requirement of USD20 million committed
investment for a company wishing to open an operation with one gambling table
and 10 machines.
The Ministry of
Finance will work together with the Ministry of Planning and Investment and
the Ministry of Culture, Sports and Tourism to regulate casino advertisement.
Companies running
casinos would also retain the right to refuse turn away customers if they do
not meet the requirements. The companies would also be asked to take active
measures to prevent criminal activities such as money laundering.
The draft also
states that the maximum fine for any violations would be VND200 million.
Companies found to have committed violations more than once would have their
licenses revoked for a period of 18 months. Other bans, such as online
gambling, would remain.
The HCMC Department
of External Affairs has proposed the Government suspend the auction of a land
lot at 1 Ly Thai To Street in District 10 and allow a local tourism agency to
run business and help preserve greenery and old villas in this area.
In 2010, the Prime
Minster approved plans of the Ministry of Foreign Affairs and the Ministry of
Finance to auction the 3.7-hectare land plot which is currently home to the
Government Guest House to raise funds for key projects.
The lot is
estimated to cost thousands of billions of dong as it lies in a prime area
bordered by districts 1, 3, 5 and 10, and surrounded by Ly Thai To, Hung
Vuong and Tran Binh Trong streets. There are seven French-architecture villas
built in 1950 and shadowed by trees that are nearly 100 years old.
Nguyen Hong Linh,
director of the HCMC Department of External Affairs, told the Daily on the
sidelines of a review meeting on activities of the department in the first
six months of this year last week that the Government approved the auction of
the location in 2010 but it has not been sold due to stagnation of the
property market in the past years. The land lot will not generate revenue as
expected in the current situation.
HCMC also wanted to
preserve the old villas and greenery in the area, Linh stressed.
Linh said leaders
of HCMC have plans to allow Saigontourist Travel Service Company to use the area
more efficiently.
The two ministries
have agreed to ask the Government to suspend this auction and are now waiting
for a final decision.
Savills
Savills
The property
service provider quoted statistics from the Ministry of Planning and
Investment as saying that the country registered US$5.7 billion in disbursed
foreign direct investment (FDI) in the first half of the year, rising 1%
year-on-year. Of which, the FDI flow into the property sector made up some
10% (nearly US$700 million), mainly through M&A deals.
The company gave an
example that the Hong Kong-based Tung Shing Group took a 53% stake in
Mövenpick Saigon Hotel in Phu Nhuan District in January and later
Sun Wah Vietnam
Real Estate has committed to investing in the Bay Water project owned by
domestic firms, according to the HCMC Department of Planning and Investment.
In
Savills
Savills
The completion of
infrastructure and road connectivity among major metropolitan areas and
satellite cities has also made the property sector attractive, Savills
The improving
property market will be supported by the revised Land Law, which took effect
last month and is expected to ensure transparency and offer opportunities for
investors in this market.
Su Ngoc Khuong,
associate director of investment at Savills
Investors are also
keen on operational assets with stable yields and lower risks. In the hotel
sector, growing numbers of both domestic and international tourists as well
as direct international flights to multiple Vietnamese provincial airports
are fundamental reasons for investors to pour money into inner-city hotels
and seaside resorts.
“The interest of
Japanese and Korean investors, who have accounted for a majority of M&A
deals in the last two years, is expected to stay strong. Besides, there is
growing demand from
Khuong projected
M&A activity and investments continue in these segments of the property
market in the final months of 2014 and next year.
Neil MacGregor,
managing director of Savills
MacGregor said
Businesses
seen enjoying more legal protection
Private enterprises
would feel safer to make long-term investments and enjoy increased protection
if amendments to the Enterprise Law are passed by the National Assembly (NA),
said Nguyen Dinh Cung, head of the Central Institute of Economic Management
(CIEM).
The NA Standing
Committee discussed the amendments to the law on August 11 morning and most
deputies agreed that enterprises should be allowed to do what is not
prohibited under the amended law, Cung said at a project launch workshop in
Hanoi on August 11 afternoon.
Cung, who had
attended the session of the committee, said there are up to 400 documents on
conditional business sectors in
The committee
requested that the list of conditional business activities should be
clarified if the Government wants the amendments to the Enterprise Law to be
adopted at the forthcoming session later this year.
The move will
ensure the legitimate rights and interests of businesses and remove many
hurdles that enterprises have faced in their operations in
The contents go in
line with the project themed “Restructuring for a more Competitive
The project will
point out privileges for State-owned enterprises which have distorted the
business environment in
In addition, the
project will help re-allocate resources across the country and in each region
to ensure the efficient use of resources.
Raymond Mallon,
senior consultant of the project, said interest groups, especially
State-owned enterprises, may curb fair competition by limiting participation
of other companies.
Australian
Ambassador to Vietnam Hugh Borrowman said
Deputy Minister of
Planning and Investment Dang Huy Dong said
Military
Bank wins GPEA award for excellence
The Asia Pacific
Quality Organization (APQO) has selected the Vietnam Military Commercial
Joint Stock Bank (MB) for its coveted World Class Global Performance
Excellence Award (GPEA) for 2014.
MB is the only bank
in
Criteria for the
award include the role of leadership, strategic planning, orientations for
target customers and markets, measurement, analysis and management of
knowledge and the development of human resources, as well as management of
business results.
The awards ceremony
is scheduled for
At present, MB is
one of few Vietnamese banks which have applied several international quality
standard systems such as ISO 9001, Lean-Six Sigma in their business
procedures.
Exports to
Seafood exported to
The highest
increase was on fibre which brought $12 million, increasing 109.47 percent
Export turnover of
iron and steel to
Sustainable
dairy zone breaks ground in Ha Nam
FrieslandCampina
This project is a
partnership between FrieslandCampina- a leading dairy company in the
The project seeks
to establish three dairy zones by 2018, each zone having about 50 dairy
farms, producing at least 7,000 tons of fresh milk per year and creating
approximately 350 jobs.
Farm
exports on the rise despite demand fears
Despite concerns
about the slump in demand for Vietnamese farm produce in traditional markets
like
According to
figures from the Ministry of Agriculture and Rural Development, major
increases were reported in the exports of coffee, pepper, seafood, and wooden
products.
But other items
like rice, rubber, tea, and cassava and its products have seen a slump due to
a decline in exports to
Many items have
been sold to the EU, the
Green-skinned
pomelo and dragon fruit, for instance, have been shipped to 40 countries and
territories around the world.
Last year
Nguyen Xuan Hong,
deputy head of the Ministry of Agriculture and Rural Development's board for
promoting exports of vegetables, flowers and fruits, said to maintain growth
in exports of farm produce, local firms must look for new markets while
strengthening relations with traditional markets through improving quality by
further investing in post-harvest technologies.
"Local
businesses should invest in advanced technologies for processing farm
produce.
"For example,
they can build plants to produce ethanol from cassava and make wood products
from shavings instead of importing them."
New technologies
have helped increase the value of produce.
Binh Dinh Fishery
Joint Stock Company (Bidifishco) exported its first batch of ocean tuna to
She added that tuna
weighing 40-50kg each would be exported to
By applying CAS
technology (which helps preserve fruits for a year while retaining quality),
Luc Ngan District in
According to the
Ministry of Agriculture and Rural Development, exports of farm produce,
seafood, and forest produce accounts for nearly 20 per cent of the country's
total exports on average.
Dong Nai to
build clean cashew producing area
The Donafoods Dong
Nai has co-operated with Target Co, Ltd of
The two companies
will start studying the cashew area and giving consultation for farmers in
the two districts of Xuan Loc and Dinh Quan in September.
In the first seven
months of this year, the provincial cashew export reached 15,200 tonnes,
earning US$98.6 million, up 22.5 per cent in volume and 30.6 per cent in
value compared to the same period last year.
The provincial
cashew exporting markets are the
Tra Vinh
grants VietGAP certificate for mangosteen
The Mekong Delta
The certificates
could help the cooperatives to expand their market reach by ensuring output
and raising earnings for farmers.
There are 130
hectares of mangosteen in the province with the average production of
1,000-1,300 tonnes per year and 306 hectares of mandarin orange with the
average production of 2,200-2,500 tonnes per year.
MoF calls
for milk price stabilisation
The Ministry of
Finance on Monday urged provincial and municipal finance departments to
stabilise prices for milk consumed by children under six.
The ministry has
asked departments to require dairy companies to adhere to the price ceiling.
The ministry also
urged for an inspection team to be set up to take control of milk prices and
tackle violations in a timely manner.
Fibre plant
provides key textile inputs
The Dinh Vu
Polyester Fibre Plant exported nearly 5,500 tonnes of products to the
European market in its first three months of operation, according to the
Ministry of Industry and Trade.
The plant has so
far produced 15,500 tonnes of products, more than 8,600 tonnes of which were
sold. Product quality has been tested and is equal to that of Thai, Taiwanese
and Chinese products.
Covering 15 ha in
Dinh Vu Industrial Park in the northern port city of
The plant will
supply about 40 per cent of the materials needed for
PVTEX is also
constructing the $6.8 million Phu Bai Fibre Plant in the same area.
Deputy Minister of
Industry and Trade Do Thang Hai said that
Domestic fibre
supply has also increased in recent years because local enterprises have
expanded production to improve the competitiveness of garment products.
The Viet Nam
Textile and Apparel Association (Vitas) announced that domestic enterprises
had many large projects to expand fibre production so local garment
manufacturers could reduce imports.
Vitas noted that
the increase in local fibre products had even led to exports, pointing out
that exports of material and sub-material products, including fibre,
increased to $2 billion last year.
Japanese investors
in southern Binh Duong province have complied with their commitments to
quickly disbursing investment of their projects, which were licensed last
year, said local official.
Among the projects,
the 95-million-USD Binh Duong Canary mall funded by the Japanese leading
retailer Aeon Corp. is in its final phase and will be put into operation in
November, said Mai Hung Dung, Director of the southern province’s Department
of Planning and Investment.
Located at the
Meanwhile, the
Tokyu Binh Duong Garden City, which is being developed with an investment of
1.2 billion USD by Becamex Tokyu - a joint venture between Becamex IDC and
Japanese town developer Tokyu Corp., has also completed disbursement for its
sub-projects.
Its sub-project
According to the
provincial People’s Committee, the locality has so far attracted more than
2,300 foreign-invested projects with a total registered capital of nearly
19.8 billion USD.
Japan remains the
largest investor in the southern province with over 220 projects and nearly 5
billion USD disbursed, focusing on high technology, electronics, medical
equipment, food processing, infrastructure and urban areas.-
RoK-funded
project helps modernise
The Korea-Vietnam
incubator park ( KVIP) project, which aims to help modernise food processing
and agricultural mechanics in the Mekong Delta region, is keeping to schedule
and will officially run in Can Tho city in early June, 2015, according to
local officials.
Director of Can Tho
City’s Department of Industry and Trade Nguyen Minh Toai said at a recent
meeting that 32 percent of the workload has been completed, and from now to
the end of the first quarter of 2015, training courses will be held to teach
Vietnamese personnel how to operate the project.
According to the
Department, the KVIP is being built at a cost of over 21 million USD, with
17.7 million USD funded by the Republic of Korea government and the remainder
sourced from Vietnam’s counterpart capital.
Under the agreement
between the two governments, the RoK side will build the facilities and
provide equipment for the incubator, which occupies an area of 4.5 ha in Tra
Noc 2 Industrial Park in O Mon district.
Kim Hee Sup, KVIP
managing director, said the project aims to assist the development of rice
processing industry in order to improve competitiveness of regional rice in
the global market.
The incubator will
also provide technology to modernise aquaculture in the region through
popularising good aquaculture practice.
Another goal of the
project is to develop made-in-Vietnam agricultural machinery with a
localisation rate of up to 95 percent within the next ten years.
FTAs buoy
up businesses
A recent survey has
shown that despite the risks to domestic market share, the majority of
enterprises in
The HSBC-sponsored
survey on free trade agreements (FTA) conducted by the Economist Intelligence
Unit reviewed the opinions of 800 senior executives from companies in
Australia, China, Hong Kong, India, Indonesia, Malaysia, Singapore and
Vietnam – 100 from each locality.
Results showed that
They also specified
other direct benefits that the FTAs have provided for their companies.
According to a
report by the EU-funded Multilateral Trade Assistance Project (Mutrap)
released in March on the sustainable impact assessment of the Vietnam-EU FTA
expected to be inked by late 2014, tariffs on footwear, for instance, will be
reduced to zero percent by 2020, down from the existing 12.4 percent.
However, the Mutrap
report also warned that reducing tariffs will have a massive impact on the
volume and prices of electronic products imported from
Regarding the automation
sector,
According to
Mutrap, the EU FTA would enable
Locally-owned Hung
Yen Garment Joint Stock Company enjoyed an export turnover from EU trade of
21 million USD last year, and expects even greater benefits once the EU FTA
is signed.
“If the average
export tariff is slashed to zero percent thanks to this FTA, this figure will
be far higher,” the company’s General Director Nguyen Xuan Duong was quoted
by VIR as saying.
According to the
Vietnam Timber and Forest Product Association, who saw an export turnover of
756 million USD last year from EU trade, Vietnam’s timber industry will boom
once the trade tariffs averaging 20-25 percent are removed.-
The Mekong Delta is
stepping up efforts to increase its competitiveness to create a more
attractive environment for businesses to run investment in the region.
The three provinces
of Kien Giang, Dong Thap and Ben Tre will strive to keep their place in the
“very good” group, while Tra Vinh province and Can Tho City should move one
grade higher from the current “good” rating. The remaining provinces,
currently rated in the median range will try to enter the “good” group.
The delta, which
comprises 12 provinces and one city, plans to inject 87 trillion VND (4
billion USD) into building infrastructure for land, water and air transport.
Programmes will be carried out to help local businesses enhance their
capacity in terms of finance, corporate governance and marketing.
Human resources
training and administrative reform are also two urgent tasks, said Director
of the Vietnam Chamber of Commerce and Industry (VCCI) in Can Tho city Vo
Hung Dung.
The Mekong Delta
region has so far attracted 1,600 domestic and 836 foreign investment
projects worth 416 trillion VND (26 billion USD) and 11.8 billion USD,
respectively.
The outcome was
attributed to the delta’s incentives in a wide range of fields such as tax,
land rent, scientific research and technology transfer, said deputy head of
the Steering Committee for the Southwest region Nguyen Phong Quang.-
Electronics
firms ignore consumer rights
With a population
of more than 90 million,
Speaking at a
seminar on protecting consumers' rights in the electronics sector in
According to GFK, a
market research company, Vietnamese consumers spent a total of nearly VND35
trillion (US$1.64 billion) for electronic products in the first half of the
year, a year-on-year increase of 27.5 per cent, he said.
Forty retail
electronics stores were established from early 2013 to June this year, Bach
said.
"This proved
that the
In the last two
years, electronics firms had expanded their distribution networks from urban
to rural areas to increase their market share, he said, noting that there was
fierce competition among electronics firms, not only in terms of prices but
also in services.
With diverse
products, distribution methods and suppliers, the electronics market in
But along with an
increase in demand for electronics products, violations of the law on
protection of consumer rights in the electronics sector had also increased,
the seminar heard.
Cao Xuan Quang,
head of the Viet Nam Competition Authority's Consumer Protection Division,
said violations of consumer rights in the electronics sector were mainly
about guarantees, insufficient information to customers, dubious promotion
programmes and exaggerated advertising.
For instance, many
businesses launched promotions with discounts of 50 per cent, but in reality
the sale prices after discount were still higher than market prices, he said.
In another case,
electronics stores said they would offer gifts worth VND2 million ($94.18)
for customers who buy TVs, but the value of the gifts were not that high,
just about VND200,000-300,000 ($9.5-14.3), he said.
As for guarantees
according to the law on protection of consumers' rights, businesses must
exchange the product or refund customers if the company cannot repair the
product after three consecutive attempts during the warranty period.
In addition,
businesses must bear the cost for transporting the products during the
warranty period and provide customers another product for temporary use while
it is being repaired.
"However, few
electronics businesses have followed these regulations," he said.
He blamed the
situation on a lack of understanding about regulations on protection of
consumers' rights among businesses.
"Some
understand, but they deliberately violate the law," said Nguyen Phuong
"On the other
hand, Vietnamese customers are not fully aware of their basic rights, and
they do not know where to complain or ask for compensation when their rights
are violated," he said.
Pham Thi Viet Thu,
deputy chairwoman of the Consumers' Rights Protection Association of HCM
City, said many consumers were afraid of complaints, so they ignore them.
Thus, companies
ignored their responsibilities to obey regulations on protection of
consumers' rights, she said.
Legal documents
clearly stipulate that consumers have eight basic rights, including safety,
information, choice, complaints and compensation.
In the past three
years, the Viet Nam Competition Authority had co-operated with localities to
organise more than 500 workshops nationwide to raise awareness about
consumers' rights among people,
Awareness about
consumers' rights had increased but not as expected, he said.
His agency would
continue work to help Vietnamese consumers understand more about their
rights.
"It is time
for large electronics producers to train and instruct their sale agents about
the importance of conducting accurate advertising as well as provide
customers with sufficient information about products that customers intend to
purchase,"
MoF pulls
u-turn on fizzy beverage tax position
The Ministry of
Finance has decided not to include carbonated soft drinks in its list of
items subject to special consumption tax – a radical shift from the
policymaker’s previous view.
After ardently
supporting the addition of carbonated drinks to the list of SCT goods, the
MoF has relented,
Huynh Vuong Nam, a
senior official of the General Department of Tax Policy under the Ministry of
Finance (MoF), confirmed with VIR at July’s regular government meeting that
the MoF had submitted the final amended draft of the Law on Special
Consumption Tax (SCT), in which it asked the government not to apply the 10
per cent SCT on carbonated beverages.
The ministry
previously stated that carbonated soft drinks should be on the list, and
cited their harmful effects, including diabetes and obesity, as the main
cause behind the move. The ministry proposed an SCT rate of 10 per cent and
projected that the volume of these drinks sold in
In previous
comments to VIR, Ngo Huu Loi, head of the MoF’s Tax Policy Department, said
the proposal to enact a 10 per cent SCT on carbonated drinks was called for, and
claimed that research conducted by health organizations showed that
carbonated drinks, if consumed in large quantities, could cause obesity,
diabetes and gout. He added that more than 50 countries, mostly in
The proposal
received pronounced opposition from both government bodies and beverage
companies, and most notably, foreign beverage producers in
The Ministry of
Industry and Trade expressed concerns that the tax would adversely impact
both foreign and domestic carbonated drink producers.
Since it is near to
impossible to compete with foreign beverage giants, domestic companies have
focused on non-carbonated alternatives.
The MoF’s decision
to not include carbonated drinks in the law takes the pressure off of
concerned beverage companies throughout the country, particularly foreign
firms, which would have been hardest hit.
Adam Sitkoff,
executive director of Amcham Hanoi said, “We are pleased that the Vietnamese
government has decided not to move forward with this harmful tax and the
results of the government’s consultations with the business community sent a
positive signal to international investors about the country’s commitment to
creating a more open and competitive business environment.”
German engineering-electronics
giant Bosch has announced a plan to channel 160 million euros ($214.7
million) into
The fresh money
will be used to expand its existing production site for push-belts for
continuously variable transmission (CVT) in automobiles and a recently opened
automotive research and development (R&D) center in southern
In late October
2013, Bosch obtained the license for an additional investment of $240 million
for its Vietnamese business, Robert Bosch Vietnam Co Ltd, to set up a new
plant in the southern
The additional
investment would be used to construct the plant that makes spare car parts
and fund training programs for local workers, said Vo Quang Hue, managing
director of Robert Bosch
Robert Bosch
The automotive
R&D center initially focuses on computer-aided design (CAD), simulations
and testing of automotive technologies such as CVT and fuel injection,
The new facility is
located next to the software and engineering R&D center, offering smart
solutions-embedded software, hardware, IT tools, mechanical design, business IT,
and IT-enabled services at the E-Town tower in Tan Binh District.
The software and
engineering R&D center has grown faster than Bosch initially planned by
18 months,
In April 2011,
Robert Bosch
The firm began the
construction work on the factory, specializing in manufacturing push-belts
for CVT for a variety of car models, in September 2008.
Robert has also
announced that it invested some 3.3 billion euros ($4.43 billion) in Pacific
Asia in 2010-2014 to increase the localization contents of products to reach
its 2020 target.
Accordingly, the
Pacific Asian region continued to be the number one growth region for Bosch
with sales doubling to some 11 billion euros ($14.76 million) over the past
decade by the end of 2013.
The growth in the
region has enabled Bosch to set higher growth rates for the next stage which
will last until 2020.
“By 2020, we aim to
double our sales in the region once again,” Tyroller said during a meeting at
Bosch’s headquarters in July last year.
“Our investments in
the coming years in Pacific Asia will remain at a high level and we will
further intensify our localization efforts,” the board member added.
Bosch sees
localization as the key success factor for the continuous growth in Pacific
Asia, including local manufacturing, product management, engineering and a
high share of local supply, the German firm said.
Bosch considers
that continuous investments will strengthen its regional footprint. Today,
the company is present in 16 countries in Pacific Asia with 120 locations and
52 manufacturing facilities.
Earlier this year,
Bosch inaugurated a new software research and technology center in
In
Bosch will also
further ramp up its automotive manufacturing capacity in China by opening two
new sites for exhaust gas turbochargers in Shanghai and for clean diesel
systems in Qingdao by the end of the year, both located on the country’s east
coast.
In mid-June, the
company’s first plant in
The recently opened
automotive plant in
In 2013, Bosch
focused on expanding its manufacturing capacity for automotive components by
creating a Pacific Asia-wide production and engineering hub for automotive
aftermarket parts in
In
The company also
invested in a new production facility for its drive and control technology
division which manufactures hydraulics components and systems in
In the fast growing
Southeast Asian region, Bosch extended its footprint with additional offices
in
Indebted
Canadian gold miner denies central
A debt-stricken
Canadian gold mining company on Thursday continued to reject a VND297 billion
(US$13.98 million) tax row in central
Besra
But David Serton,
chairman of Toronto-based Besra Gold Inc, said at a media meeting on Thursday
that there has been misleading information about the debt status of Besra
Serton made
accusations that a series of newspapers have published inaccurate,
misleading, and groundless reports on the gold miner, affecting its plan to
resume operations.
Besra
Phuoc Son Co Ltd
and Bong Mieu Co Ltd, the two subsidiaries of Besra
The Canadian
company has so far invested VND3.25 trillion ($152.97 million) in its Vietnam
operations, Serton said, adding that these figures prove that Besra is an
excellent business that brings economic and social benefits to the Southeast
Asian country.
But the press
representatives attending the meeting disagreed with Serton’s arguments,
saying they have accurately reported the issue, with official data provided
by authorized agencies.
Luong Dinh Duong,
deputy head of Quang
“Phuoc Son Co Ltd
and Bong Mieu Co Ltd owe VND297 billion in total,” Duong said, adding that
the taxman cannot “keep silent about it any longer.”
“There is nothing
to hide,” he said.
“It’s obvious that
the companies have been exploiting tons of gold, and their debts are recorded
clearly in books and records.”
Both of the
representatives of Besra Gold Inc and the Quang Nam tax department admitted
that they have failed to reach a solution to the issue after several previous
meetings.
Serton even said he
had written a letter to Vietnamese Prime Minister Nguyen Tan Dung, asking him
to order relevant agencies and departments to lift the coercive measures.
At the end of the
press meeting, the chairman withdrew his criticism against the media, saying
he fully understood the situation by then.
Agri sector
taps vast potential
Foreign firms are
showing huge interest in
In early August
2014, the
In June, an
agreement on the deal was inked, which was aimed at empowering Pilmico to
expand its core feeds business into the Vietnamese market.
Earlier this month,
“We think
agriculture is a sector that has great potential. We have seen other
investors turn their eye to this area and we have also seen that Vietnamese
companies not only need foreign capital, but also foreign investors who bring
to the table experience and strength that can help their businesses grow.
They need expertise and access to international markets,” said Nguyen Thuy
Hang, special counsel with international law firm Baker & McKenzie.
In July 2013 Baker
& McKenzie advised Minh Phu-Hau Giang Seafood Processing Company (MPHG)
on a $19 million acquisition by
Animal vaccine and
pharmaceutical company Medion, based in
Under the
agreement, Medion will transfer its knowhow and technology to Greenvet.
Greenvet’s plant in
In late June 2014,
Dutch-backed Rabobank clinched a memorandum of understanding on food and
agribusiness (F&A) co-operation with
“Vietnam’s huge raw
material potential and attractive investment policies are attracting many
foreign husbandry firms that make animal medicines, feeds, process meat or
raise poultry and cattle,” said Hoang Thanh Van, head of the Ministry of
Agriculture and Rural Development’s Livestock Production Department.
Sooksunt
Jiumjaiswanglerg, general director of C.P. Vietnam Livestock Corporation,
said the Thai group would continue building more food processing factories in
“We will also
expand our products out to provinces, not only urban areas. We will also
boost co-operation with local farmers,” he said.
The
As one of Cargill’s
eight compound feed mills in Vietnam, this expansion brings the company’s
total investment in Vietnam’s livestock and aquaculture industry to over $110
million over 10 years, with the total compound feed capacity of 1.4 million
tonnes. In 2012 Cargill committed to building more animal feed mills in
Australian-Vietnamese
joint venture
Dutch animal feed
maker De Heus is building a $30 million factory in the
Meanwhile, Chinese
animal feed producer Tequhope plans to set up 12 more animal feed plants in
The event will be
joined by a record number of 250 plus foreign husbandry firms from over 30
nations around the world, including the
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Tư, 13 tháng 8, 2014
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