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BUSINESS IN BRIEF 3/12
French
businesses seek opportunities in Vietnam
A
delegation of 20 French companies begins a visit to
During
their three-day stay in
French
businessmen will be also invited to visit a number of French companies
operating in HCM City-based industrial zones in order to gain a more concrete
understanding of how to invest in the country.
ANZ-funded
MoneyMinded programme brings huge benefits
ANZ on
December 1 signed a new MoneyMinded partnership programme with three partners
in
The programme,
which aims to improve financial skills for wider groups in the local
community, is part of ANZ’s long-term strategic approach to improving
financial literacy in
ANZ
Vietnam Acting CEO Phan Thi Thanh Binh said building a responsible business
is one of ANZ priorities. “By offering this practical financial education
program to Vietnamese young adults and selected disadvantaged groups, we
believe that together with our partners we can build long-term financial
confidence and well-being for Vietnamese people. We are pleased to find
trusted partners in
Meanwhile,
Michael Brosowski, CEO and Founder of Blue Dragon Children’s Foundation
(BDCF) said “We welcome both the MoneyMinded programme itself, and the
opportunity to help evolve the program with ANZ in
For his
part, Nguyen Van Minh, Director of Institute of Economic and International
Trade said “We see a clear added-value of the MoneyMinded program to the
young students. We believe the program will assist our students, especially
those who are entering the workforce to make better judgments and decisions
about the use and management of their money”.
ANZ was
among the first international banks to operate in
Fertilizer
imports from
The
Ministry also reports that
The
Wallonie Foreign Trade and Investment Agency (AWEX) is marking its 20th
anniversary of operations in
Since
1994 the mission of AWEX has been to deal with the vast aspects relating to
foreign trade. In that capacity it has been responsible for developing
reports such as foreign trade statistics and has advised the government on
legislation and regulations
Most
notably, AWEX has been recognized for organizing a project on training family
doctors between the University of Liège (
As part
of the programme, doctors from Wallonie flew to
AWEX has
also received high praise for its contributions to the development of
economic relationships between the Wallonie region and
Under a
joint venture agreement with a Vietnamese partner Sopura has invested 1
million euros in
In
honour of the occasion the French-language public-service broadcasting
service of
Rice
exports up in value, down in volume
Vietnam’s
rice exports in the eleven months leading up to December decreased 2.7% in
volume but were up 1.9% in value compared to last year’s corresponding
period,according to the Ministry of Agriculture and Rural Development (MARD).
The MARD
reports that
Meanwhile,
the Vietnam Food Association (VFA) says in the eleven month period,
The
Imports
from
At the
same time,
From
January to October, two-way trade still increased by 18.6 per cent to $141.8
million, in which Viet Nam ran a trade deficit of $51.1 million with Hungary,
triple the figure reported one year earlier of $16.1 million.
Viet
Nam coal imports to keep rising: Ministry
The Viet
Nam National Coal and Mineral Industries Group has signed 10 memorandums of
understanding (MoU) with foreign companies for an annual supply of about 20
million tonnes of coal.
The
Ministry of Industry and Trade (MoIT) said that the companies with whom the
MoUs have been signed are from
The Viet
Nam Oil and Gas Group also signed contracts with Australian firm Ensham Coal
Sales and Peabody, Indonesian firm Tuah Turangga Agung and Japanese firm
Sojitz Corporation, besides an MoU with Indonesian firm Noble Group, for the
supply of a total 10 million tonnes of coal a year to meet the demand of its
thermal power plants.
According
to the National Power Master Plan VII for the period 2011-20 with a vision to
2030, thermal power will comprise a large portion of the country's power
supply. Therefore, the demand for coal in power production will be high,
while the domestic coal supply is not sufficient.
The
ministry forecast that
However,
a large quantity of imported coal will be difficult to get because of
unstable supply.
$230m
ADB loan to aid push for economic reforms
The
Asian Development Bank (ADB) has approved loans totalling US$230 million to
support
"
"Structural
obstacles are holding the country back and this loan assistance from ADB,
along with support from other donors, will allow the government to press
ahead with measures to resolve these issues."
After
the country's shift away from a centrally planned economy in 1986, growth
averaged over 7 per cent a year from 1990 to 2007 while per capita income
almost quintupled.
Skills
gaps in the workforce, a relatively unsophisticated financial sector, a hefty
fiscal deficit, unequal conditions for state enterprises compared with the
private sector, and an opaque business regulatory environment have held back
competition, investment, and growth.
The
programme will help the Government push ahead with measures to boost banking
sector stability, improve public administration, strengthen State-owned
enterprise management and develop a clearer and more transparent regulatory
environment for business. Specific actions supported by the programme include
implementation of the Government's credit institution restructuring plan,
legislation to regulate and guide the rollout of an anti-corruption law,
steps for the restructuring of State-owned enterprises, and amending the Law
on Public Procurement.
The
programme's outcomes will include simplified value-added tax procedures and a
reduction in income tax for small- and medium-sized enterprises and
transaction costs for small businesses, all of which will help boost
productivity and support employment and poverty reduction.
The
programme targets boosting private investment as a percentage of GDP to 15
per cent by 2020.
ADB's
assistance is complemented by US$250 million from the World Bank and $150
million from the Japan International Co-operation Agency.
The
programme's estimated completion date is June next year.
Falling
world oil prices pose new challenges: Prime Minister
The
Government yesterday admitted that the Vietnamese economy could face new
challenges from the ongoing fall in world crude oil prices.
At a
monthly cabinet meeting held yesterday in Ha Noi, Prime Minister Nguyen Tan
Dung urged the finance ministry to calculate State budget income in order to
avoid a deficit.
Oil
prices fell from US$105 per barrel at the end of July to $68.53 at the end of
November. This is the lowest in about four years.
The PM
also called for tighter control of prices and markets as well as combating
contraband and low-quality goods as the New Year is approaching.
During
January-November, the macro economy continued stabilise, while growth
recovery was reported in all fields. GDP growth was higher than in the two
previous years and is expected to exceed the set target of 5.8 per cent.
In the
period, inflation was kept under control, the consumer price index (CPI)
increased by 4.3 per cent, while the index of industrial production rose by
7.5 per cent - and FDI disbursement increased by 6.2 per cent.
PM Dung
also requested ministries, sectors and localities to speed up economic
restructuring in line with the changing growth model, while boosting the
restructuring and equitisation of State-owned enterprises as planned.
He asked
for more efforts to stabilise the macro economy, remove business obstacles,
and hasten the processing and disbursement of projects, especially those
involving infrastructure.
Meanwhile,
the State Bank of
The PM
asked ministries, sectors and localities to continue implementing
administrative reform and improving the business climate.
They
were also urged to strengthen inspections over law enforcement and corruption
and prevent wastefulness.
The
Government leader stressed the need to focus on sustainable poverty reduction,
new-style rural areas and job generation.
He also
asked for concerted measures to combat social crimes, and ensure social order
and traffic safety.
PM Dung
also agreed with a proposal from the labour ministry that State cadres and
public officers have four days off from January 1 to 4 to celebrate the New
Year; nine days off from February 15-23 to celebrate Tet (Lunar New Year) and
six days off from April 28-May 3 in observance of the Hung King's Festival,
the Reunification Day and the Labour Day.
At a
following press conference, head of the Government Office, Nguyen Van Nen,
praised the decision for Thua Thien-Hue to end a controversial resort project
at Hai Van Pass. The provincial government said the decision was made
following public outcry over the project's planned location.
At the
press conference, Nen also reaffirmed that the economy did not show signs of
deflation.
Cashew
industry urged domestic market focus
The
cashew industry needs to boost consumption in the lucrative domestic market,
a forum on the nut's nutritional value heard in
Dinh Thi
My Loan, chairwoman of the Viet Nam Retailers Association, blamed the low
sales at home to high prices, poor marketing, and lack of diverse products.
Besides,
processors are not interested in the local market, she said, adding that
cashew products are mainly sold during the Lunar New Year, making it hard to
create a consumption habit among consumers.
Nguyen
Tan Thanh, deputy director of cashew processing firm Thao Nguyen Co, said
many people do not eat the nut in
As a
result, local consumption accounts for just around 5 per cent of output while
in
To
promote consumption in the domestic market, Loan said the industry needs to
strengthen advertising and marketing and develop more cashew-based products.
Besides
trying to take their products to supermarkets and traditional retail channels
like markets and shops, businesses should also make more effort to sell
online, she said.
Educating
people about the nutritional benefits of cashew is also key, she said.
Do Thi
Ngoc Diep, director of the HCM City Nutrition Centre, said cashew nuts are
high in calories, with 100gam providing 550-600 kcal compared to 300-350 kcal
for cereals and 150-200kcal for meat.
They are
also an abundant source of essential minerals, especially manganese,
potassium, copper, iron, magnesium, zinc, and selenium, she said.
About 80
per cent of the fatty acids contained in the nuts are monounsaturated fatty
acids, mainly oleic, which are good for people with heart diseases or
diabetes who also have high triglyceride levels, she said.
It is a
low blood sugar food, largely because it contains a high amount of fibre, she
said.
By
replacing animal-based foods, cashew can help prevent non-contagious diseases
and malnutrition, she added.
The
Under
the contract, the Dai Quang Minh Real Estate Investment Joint Stock Company
will invest in the construction of four main roads on the peninsula's urban
area, including a six-lane arc-shaped road, a four-lane road along central
lake, a two-lane road along the
All of
the four main roads, built under the BT strategy, have a total length of 12km
including 10 bridges with total investment fund of VND12 trillion (US$560
million).
The
company has invested a total of VND7 trillion (US$328.5 million) to develop
infrastructure in the new urban area.
Prior to
the contract, the company had signed an initial contract and broke ground for
the project in February, to ensure that completion would occur in early 2017.
Construction
on the four roads has started, and two of the 10 bridges have been built.
Tran Ba
Duong, general director of the company, said the four roads' construction
will be completed in early 2017.
Beside
the four main roads, the real estate developer is investing in building the
central square and riverside park under BT mode.
The
central square and the riverside park have a combined area of roughly 30ha.
The
total investment fund for this project is estimated at nearly VND2 trillion.
Designs
for the square and park have been submitted for approval.
The
company will also invest in Thu Thiem 2 bridge which links the city's central
with the new urban area.
The
company has completed design for the six-lane bridge, and construction of the
bridge is expected to begin in April next year.
The city
government has appointed the company to build a pedestrian bridge linking the
peninsula with
The
Nguyen
Huu Tin, deputy chairman of
The city
also plans to invest in other branch roads in the urban area, he added.
Under an
agreement with the city, Dai Quang Minh Real Estate Investment Joint Stock
Company will be given land to develop residential areas in the peninsula in
exchange for investing in infrastructure.
The
company plans to develop an 80-ha residential area near the southern section
of the Mai Chi Tho Road, and a 20-hectare area with 11 plots of land near the
northern section of the road.
According
to the plan, the company will also build another urban area near a 150ha
southern ecological forest area on the peninsula. The urban area will have
234 villas, 395 houses, 5,600 luxury apartments, a five-star hotel and a
hospital.
Vietnam
Airlines yesterday officially launched its new product, offering travellers a
holiday package combining round-trip airfares with hotel services.
Vietnam
Airlines Deputy General Director Trinh Ngoc Thanh said the new travel package
is part of the carrier's increasing efforts to carry out its
customer-targeting policy.
The VNA
Holidays travel package will be sold via the carrier's official website
www.vietnamairlines.com. They will be initially offered on domestic routes,
as well as international destinations departing from
The
Ministries of Finance, Industry and Trade, and Planning and Investment, and
the State Bank of Vietnam (SBV) have vowed to increase their coordination in
macro-economic management.
A
document to this effect was signed by representatives of the ministries and
the SBV on the sidelines of the regular Cabinet meeting in
It paves
the way for them to coordinate the implementation of assigned tasks in
managing finance, monetary, credit, investment and trade fields.
In March
2011, the Prime Minister instructed the Ministry of Planning and Investment to
work with the Office of the Government and relevant ministries and sectors to
build a project on institutional reform and enhancement of coordination in
macro-economic management and regulation for the 2011-2020 period.-
Bac
Lieu businesses improve quality of aquatic products
The
Mekong Delta
The
result was attributed to seafood businesses’ efforts in securing traditional
markets and stabilising production, according to the provincial Department of
Agriculture and Rural Development.
Businesses
have further invested in modernising shrimp production lines and processing
technology as this staple accounts for 98 percent of the local export value.
To win
trust from customers, enterprises have concentrated on improving the quality
of the products, ensuring food safety and hygiene, and expanding markets to
the
Bac Lieu
is currently home to 33 aquatic processing factories, with a total capacity
of 100,000 tonnes per year.
Local
exporters strive to earn 400 million USD by the year’s end, with over 357
million USD from seafood products.-
An
Giang wants to boost farm produce consumption in
Vice
Chairman of An Giang provincial People’s Committee Nguyen Thanh Binh
suggested the possibility of boosting home-grown farm produce consumption in
Satoshi,
for his part, vowed to serve as a bridge connecting An Giang and
Via the
Japan International Cooperation Agency (JICA), An Giang and Japan has formed
tie-ups since 1997, with over 20 Japanese projects worth more than 31 billion
VND (1.4 million USD) so far, focusing on health care, education, energy,
clean water, agricultural personnel training, and rice
production-processing-export.
An Giang
has also worked closely with
In 2007,
the province established a chapter of the
During
his visit, the Japanese guest attended a gathering of Vietnamese and Japanese
citizens and an exhibition introducing bilateral economic and tourism
potential.
Dong
Nai: Trade surplus reaches 330 million USD in 11 months
The
southern
Total
external trade turnover of the province in the period stood at 22.77 billion
USD, including 11.55 billion USD in export earnings, a yearly surge of 16.8
percent.
Head of
the department’s Planning Office Phan Van Dan said the main key currency earners
enjoyed good growth, including footwear (14 percent), garment (8 percent),
wooden products (9 percent). Together the three industries accounted for 40
percent of the province’s total export value.
The
Deputy
Chairman of the Dong Nai Import-Export Association Nguyen Ngoc Tuan said the
trade turnover increased thanks to the recovery of the global market.
As part
of efforts to boost export, the province will step up administrative
procedure reform, he added.
Dong Nai
aims for 1 billion USD in export turnover in December.
The
southern
Total
external trade turnover of the province in the period stood at 22.77 billion
USD, including 11.55 billion USD in export earnings, a yearly surge of 16.8
percent.
Head of
the department’s Planning Office Phan Van Dan said the main key currency
earners enjoyed good growth, including footwear (14 percent), garment (8
percent), wooden products (9 percent). Together the three industries
accounted for 40 percent of the province’s total export value.
The
Deputy
Chairman of the Dong Nai Import-Export Association Nguyen Ngoc Tuan said the
trade turnover increased thanks to the recovery of the global market.
As part
of efforts to boost export, the province will step up administrative
procedure reform, he added.
Dong Nai
aims for 1 billion USD in export turnover in December.
Revised
laws help improve investment climate: Minister
The
revised Investment and Enterprise Laws, adopted by the National Assembly last
week, will further improve the country’s investment environment, Minister of
Planning and Investment Bui Quang Vinh has said.
He
mentioned to the identification of the areas prohibited from business and investment
as a noticeable change that makes the country move closer to the world’s
standard practices.
Other
fresh change is that local businesses are not entitled to getting business
licenses since they are allowed to do business in the areas that are not banned
by law, except for those wishing to join conditional fields.
Among
267 conditional business areas, the Government determines which will need
licenses, he said, explaining that required conditions aim to serve people’s
developmental benefits, ranging from health issues, security, to
environmental protection.
Regarding
the management and use of seals at enterprises, Vinh said the revised
Enterprise Law allows businesses to decide the format and content of seals
and requires them to be responsible for their own seals.
The law
also encourages the use of personal signatures, especially e-signatures, as a
legal basis replacing the seals, he said, adding that seals, however, cannot
be immediately abolished due to the reality in the country.
The
amended Investment and Enterprise Laws are expected to create a wave of new
businesses as they encourage people to invest their idle money in business
activities, the minister said.
They are
also expected to generate millions of jobs and other important values for the
country, he noted.
Dong
Thap aims to boost rice, fish farming
The
Mekong Delta
The
Government and the Ministry of Agriculture and Rural Development chose the
heavily-based agricultural province as the first to pilot the national
agricultural restructuring plan. Dong Thap produces the most tra catfish and
ranks third for rice production. Agriculture accounts for 36 percent of GDP.
The
province aimed to achieve a growth rate of more than 5 percent by 2020 and
reduce the number of poor households by two percentage points annually,
according to Provincial Party Committee Secretary Le Minh Hoan. In addition
to rice and tra catfish, the province would focus on mangoes, bonsai trees
and poultry.
Under
the project, rice-growing land would be divided in two. One 10,000ha area
with the annual yield of 1.5 million tonnes would provide rice for export to
key markets such as
Chairman
of the provincial People's Committee Nguyen Van Duong said the province had
made several requests to the Government, including subsidies for farmers,
piloting public private partnerships in developing agricultural and rural
infrastructure, building industrial-services zones in the intensive
cultivation areas and developing key agricultural commodity value chains.
He also
said that the province would create favourable conditions for enterprises
investing in agricultural development when it came to obtaining capital, premises
and human resources.
The
Delegates
suggested that the province clarify how it would boost the value of the five
key products, citing tra catfish fat as an example.
Microsoft
and MobileWorld cooperate
Today,
Microsoft and the domestic retailer MobileWorld officially signed the
Memorandum of Understanding (MOU) in
MOU is a
watershed cooperation that Microsoft tends to bring a comprehensive and
synchronised technology platform on every personal mobile device while
MobileWorld, with its leading retailer experience, helps a large number of
Vietnamese consumers access the technology more easily.
“The
cooperation with Microsoft – the world’s leading IT corporation enables us to
better offer genuine products to help Vietnamese consumers to experience and
utilize high quality products and services worth to be paid for their value,”
Tran Kinh Doanh, general director of MobileWorld said.
Speaking
at the event, Vu Minh Tri, general director of Microsoft
This
collaboration between Microsoft and Mobile World is the proof for mutual
commitment to tend to a common target to bring modern products attached with
the most efficient adds-on and optimal services for customers in
Vinh
Long in need of ODA funds
The
Mekong Delta
Vinh
Long covers nearly 1,500 square kilometres and consists of seven districts
and one city with a population of more than one million.
Its
mainstay products include rice, Nam Roi grapefruit, high export value
fresh-water seafood and clay and sand deposits. The province is also home to
famous craft villages producing tiles and bricks, pottery and other
handicrafts.
From
2001 to 2010, Vinh Long received official development assistance (ODA) funds
for eight projects worth some $21.7 million, focusing on water supply, rural
environmental sanitation, transport, water conservation, and healthcare.
The
province has so far directly benefited from ODA-funded key government
projects such as the state-of-the art cable-stayed My Thuan and Can Tho
bridges whose completion has made significant contributions to pushing
forward development and gearing the provincial economy to shift towards a
lower proportion of agriculture-forestry and fishery and an increased
percentage of industry, construction, trade and services.
In terms
of the implementation of ODA-funded projects, this year the province has
plans for six projects, including one new and five already underway with
capital allocation this year surpassing VND113 billion ($5.3 million).
In the
remaining months of this year, Vinh Long has continued implementing the six
projects, in which two projects (one on ensuring education quality at schools
and the other on building a six kilometre road stretch crossing Mang Thit
district funded by the World Bank) are expected to be put into operation
before the year-end. In regard with the remaining four projects, efforts hve
been made towards completing their capital disbursement plans for this year.
In a
recent visit to the Mekong Delta, Deputy Minister of Natural Resources and
Environment Nguyen Manh Hien praised the efficiency of the VLAP project on
modernising local land management system and pledged to promote the model in
the region in the upcoming time.
Besides,
Vinh Long is calling for ODA funds to capitalise the construction of Vinh
Long city waste-water treatment plant with the daily capacity of 50,000 cubic
metres valued at VND550 billion ($26.2 million) in the total investment
capital. The project is expected to contribute to give Vinh Long city a
facelift.
Next
year, Vinh Long is considering carrying out five projects (four already
existing, and a new one which involves equipment upgrades for Vinh Long
general hospital). The capital plan for next year is an estimated VND297.8
billion ($14.1 million), with VND211 billion ($10 million) from ODA funds and
the remainder from government bond capital.
The
prime minister has approved Vinh Long ’s socio-economic development plan
until 2020, aiming to make the most of the province’s natural advantages,
increase international integration and tackle challenges, striving to form a
modern economic structure which can compete on a domestic and international
basis.
The
development planning in this area also highlights the need to combine
socio-economic development with building a strong political system, ensuring
defence, security and social order to transform Vinh Long into a beautiful,
green and clean urban area. The plan also aims to create a balance between
rural and urban areas, gradually improving people’s standards of living and
shaping a knowledge-based economy based on quality human resources.
Another
important content is boosting links with the Mekong Delta city of
To
realise these ambitious goals, Vinh Long would need about VND240 trillion
($11.4 billion) in investment capital during 2011-2020. A sum of VND70
trillion ($3.3 billion) will be required for the 2011-2015 period, and the
rest for the next phase from 2016 to 2020.
As a
province with strong advantages in agricultural production, Vinh Long has
paid due heed to developing technical infrastructure serving agricultural
production, promoting trade exchanges to boost consumption, and mitigating
the impact of climate change. The province has developed a comprehensive
investment programme for technical infrastructure development during
2011-2015 with orientations until 2020. ODA is regarded as an important source
to help the province reach its goals.
The
province is also increasing efforts to upgrade and develop 1,580km of
district and provincial roads, as well as roads in rural areas, reaching
2,080km of roads by 2020.
The
existing Vinh Long road needs further expansion coupled with greater
efficiency in the operation of the Binh Minh and An Phuoc ports.
Another
important task is upgrading and building the channel, dyke and jetty system
to ensure water supply for an additional 10,000ha of agricultural land, as well
as promoting aquaculture. Investment must be put into tackling flooding and
striving to ensure sufficient water for agricultural land.
The
province intends to effectively tap existing water plants and build new
systems to ensure 60 per cent of households in rural areas have access to
clean water supply by 2015, increasing to 85-90 per cent by 2020.
Amid the
rapid pace of urbanisation, developing an urban area network has become an
imperative demand in the province.
Existing
urban areas will receive further upgrades with revisions to the general
planning of Vinh Long city to achieve grade II city status, turning Binh Minh
town into a city, and upgrading Vung Liem and Tra On towns to reach grade IV
city standards.
Another
task is establishing four new urban areas at Tan Quoi (Binh Tan), Phu Quoi
(Long Ho), Cai Ngang (Tam Binh) and for Huu Thanh (Tra On) to reach grade IV
city standards.
In
respect of social housing development, the province intends to provide 1,500
apartment units for low-income people in urban areas, ensuring accommodation
for 55 per cent of students and half of the industrial zone (IZ) workers.
Regarding
the average housing area, the target is a floor area of about 15 square
metres per capita in urban areas, while in rural areas the target is 25sq.m
per capita by 2015.
To
ensure sufficient investment, the province has set forth plans to tap diverse
capital sources. This plan will ensure the effective use of domestic sources
and will take advantage of external sources to modernise the infrastructure
network, particularly in rural areas.
In
addition, ensuring power supply for production at the province’s IZs and
industrial clusters, as well as at craft villages and serving people life is
also a must. It is also crucial to scale up efforts to attract ODA funds and
create a more attractive investment environment in the province through tax
and fee policies and building better IZ infrastructure facilities.
Jetstar
Pacific opens Ha Noi-Bangkok route
Accordingly,
the route is planned to operate from March 29th, 2015 with a daily return
flight. Flights from Ha Noi will depart at 12:25 pm while the return
leaves
Every
Tuesday, Wednesday and Saturday, the flights from Ha Noi will depart at 12:00
pm and the return from
Tickets
for the route are being sold at www.jetstar.com and booking offices
nationwide, or call 19001550.
Previously,
the carrier inaugurated its service between
This is
the second route linking
The
Vietnam Food Association has reduced the floor export price of 25 percent
broken rice to US$380 a ton from US$410 since the end of November.
The
prices of five percent, ten percent and fifteen percent broken types will be
calculated by exporters.
Since
early this year to mid November,
The Free
on Board export price averaged US$436 a ton, a year on year increase of US$5
a ton.
Land
in
Many
plots of land in Hanoi Old Quarter have been offered on the market at prices
of up to VND1.1 billion (USD52,380) per square metre compared to price
ceiling of VND162 (USD7,710) million proposed by authorities.
Many
plots of land in Hanoi Old Quarter have been offered on the market at prices
of up to VND1.1 billion (USD52,380) per square metre
The
Hanoi People’s Committee is now seeking the municipal People’s Council’s
approval for the land price frame for May 2015 through 2019. Under the
proposed price frame, the highest price of land in Hoan Kiem District would
be VND162 million (USD7,710) per square metre.
Still,
Chung, the owner of a 50-square metre plot, is asking a total of VND55
billion per square metre for his property, equal to VND1.1 billion per square
metre. He said that he based the price on the opinions of real restate agents
and other property transactions in the Old Quarter.
Tuan is
also asking VND100 billion for a 100 per square metre property on
Although
these seem to be extreme cases, even the more common price of VND650-700
million per square metre is still well above the proposed price frame.
Under
the newly-proposed price frame, the maximum price for agricultural land would
remain at VND252,000 per square metre for the next five years.
Meanwhile,
the land prices for communes bordering the city would be between VND2 million
and VND29 million per square metres.
PM
asks for specific measures to beef up SOEs equitization
PM
Nguyen Tan Dung has tasked his inferiors to accelerate the equitization
scheme of State-owned enterprises (SOEs).
The
Government chief made the request at the Government’s monthly meeting in Ha
Noi on Monday.
The
State is currently holding over VND 1,200 trillion of capital in SOEs but the
sale of SOEs shares was still modest.
According
to a report of the Ministry of Planning and Investment, as of late October,
119 SOEs were restructured and 100 of the total were equitized.
The
total capital withdrawn from non-core business lines by SOEs valued over VND
3,500 billion, 3.6 times higher than that of whole year of 2013.
PM Dung
stressed the importance of equitization as it not only generates more capital
for development but also contributes to making fundamental changes to
corporate administration.
He also
asked for synchronous and specific measures to speed up the SOEs
equitization.
Ministries
shake hands in macro-economic management
Representatives
of the Ministry of Planning and Investment, the Ministry of Finance, the
Ministry of Industry and Trade and the State Bank of
The
signing ceremony was witnessed by PM Nguyen Tan Dung and the Cabinet.
The
regulation paves the way for the ministries to implement assigned tasks
detailed in the PM’s Decision 1317/QD-TTg, dated August 6, 2013 approving
scheme on reforming the coordinating mechanism in managing and controlling
the macro-economy, especially for the policies of finance, monetary, credit,
investment, trade and prices.
On March
24, 2011, the PM instructed the Ministry of Planning and Investment to work
with the Office of the Government and relevant ministries to compose a
project on institutional reform and strengthening coordination in
macro-economic management and regulation for the 2011-2020 period.
Survey:
A recent
survey by HSBC and Markit Economics stated that growth in the Vietnamese
manufacturing sector regained momentum in November as output and new orders
rose at faster rates and stocks of purchases increased at the sharpest pace
in the survey’s history.
Stronger
operating conditions have been recorded every month since September 2013.
Manufacturing
production in
Falling
prices in world commodity markets impacted the sector, with input costs
decreasing for the first time since late-2012 and output prices falling at
the sharpest rate since June 2013.
Competitive
pricing and good quality products have reportedly been key to securing new
work from both domestic and export markets. New export orders rose for the
third month running - the fastest pace since April.
Trinh
Nguyen, Asia Economist at HSBC said that the sharp rise of the PMI index in
November reflects the competitiveness of
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Thứ Ba, 2 tháng 12, 2014
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