|
BUSINESS IN BRIEF 29/6
Better
handicraft designs urged
Nguyen
Thu Thao of the Viet Nam Association for Handicraft Exporters said the global
market for handicraft and gift products was worth around US$100 billion every
year, with major consumption markets concentrated in the
In
comparison, the export value of
Handicraft
products have great export potential, according to Le Ba Ngoc, the association's
general secretary.
Ngoc
pointed out that
A recent
survey conducted by
"The
most important effort needed to boost handicraft exports is manufacturing
products of competitive quality for global markets," Ngoc stressed.
The
handicraft items of
Around
90 per cent of Vietnamese handicraft products are made to suit the technical
designs of importers and are not made under Vietnamese labels.
Experts
point out that Vietnamese handicraft producers must understand the importance
of designs and sophistication in combining cultural footprints with constant
innovation, which will enhance the competitiveness of their products.
In
addition, handicraft producers need to pay attention to obtain international
certifications to penetrate and expand to markets with stricter norms.
Vietnamese
businesses aside from technological product export growth
Technological
products contributed up to 93.4 percent in US$4.55 billion of
The
latest report by the General Department of Vietnam Customs shows that phone
and component export turnover totaled nearly US$12 billion, up 20.2 percent
equivalent to US$2 billion over the same period last year. It is the
highest-growth commodity of
Electronic
turnover reached US$6.02 billion, up 59.6 percent or US$2.25 billion.
These
two commodities brought the export value of US$4.25 billion, accounting for
93.4 percent of the five month export turnover.
Export
markets of Vietnamese technological products have broadened. In the five
months, phone export turnover to EU, U.S. and United Arab Emirates markets
went up 13.6 percent, 64.4 percent and up 4.8 percent to US$4.01 billion,
US$1.09 billion and US$1.71 billion respectively.
Experts
said that foreign direct investment sector has been the main factor to the
turnover growth of technological products.
The
world giants such as Samsung, LG, Intel, Canon, Microsoft, Nidec, Fujitsu,
Brother, Panasonic, Renesas... have expanded production in
The
experts believed that the turnover would continue increasing but the
attention of local suppliers would be very tiny in the coming time.
According
to Samsung Group, their plant in Bac Ninh province has hundreds of component
suppliers. Of these, only few are Vietnamese who are able to attend in simple
phases such as packing and printing.
The
others come from
Similarly,
most suppliers of Intel
The
condition is unlikely to improve in the time ahead when many technology
projects will come into operation such as Samsung consumer electronics
complex in the Saigon Hi-Tech Park. LG Group has also decided to move their
electronics and household appliance complex from
Most of
Vietnamese suppliers are of small and medium scales and unable to meet these
group’s demand while
New
regulation protects project house buyers from future risks
From
July 1 when the revised Housing Law takes effect, investors of housing
projects must be guaranteed by banks to ensure they would hand over
apartments to customers as per contracts. In case they fail to do so, the
banks will compensate the house buyers.
That was
revealed at a seminar on the implementation of the banking guarantee
regulation to protect future house buyers’ rights on Tuesday.
All
commercial banks can act as guarantees for project investors except some who
have been forced to restructure or taken over by the State Bank of Vietnam
(SBV) at 0 Vietnamese dong, said Mr. Nguyen Hoang Minh, deputy director of
the State bank's branch in Ho Chi Minh City.
The
guarantee is for financial obligations not for projects. For instance, if a
project is half-done or built behind schedule, commercial banks will refund
the sum of money that customers have already paid investors in advance.
The
service fee is not regulated by the State Bank. Commercial banks and
investors can negotiate the fee level which is permitted at 0 dong.
In
Investors
must make a deposit or mortgage another property to get banks’ guarantee. Two
sides can settle the deposit amount or property value depending on the
investors’ prestige and their project feasibility.
The new
regulation is expected to minimize risks for house buyers and better the real
estate market consumption, Mr. Minh said.
Some
investors reveal that they have got bank guarantee for their projects. For
instance, Vietnam Prosperity Bank has acted as a guarantee for four projects
of Novaland Group and Vietnam Technological and Commercial Bank has stood
security for Masteri project. Asia Commercial Bank, Housing Development Bank
and Ocean Bank have answered for a Sacomreal project.
HCM
City to build tunnel near Cat Lai Port
To deal
with chronic traffic congestion on a major road leading to
In its
recent document submitted to the Government, HCMC proposes implementing the
project at My Thuy Roundabout using capital advanced by the investor and paid
by the city later. The deferred payment will come with interest.
As
proposed, the first phase of the project will consist of an overpass in the
direction of Belt Road No. 2 and a tunnel underneath the existing roundabout.
The investment cost of phase one is estimated at VND770 billion (over US$35.3
million) as no site clearance and compensation are required.
The city
wants to pick an investor via a tender to carry out the first phase of the
project. The selected investor will have to advance finance for the project
and the city will pay later with interest within 2-5 years as other
investment formats are not viable.
The city
explains in the document that there will be many challenges and legal
conditions when implementing the project under the public-private partnership
(PPP) format. It is not easy to execute the project under the
build-operate-transfer (BOT), build-transfer-lease (BTL),
build-lease-transfer (BLT) and build-transfer (BT) models since the city is
copping with budget constraints and lacking in land to embrace the
land-for-infrastructure format.
Heavy
traffic jams have frequently been seen on the roads leading to
At a
meeting with the Ministry of Transport in the middle of this month, director
of the HCMC Department of Transport Nguyen Thanh Chung said the number of
container trucks moving to and from the port had surged since early last
month, from 12,000 trucks to 20,000 trucks a day.
Experts
urge livestock sector to prepare for TPP
Economic
experts have called on the domestic livestock sector to improve performance
and product quality before
The
experts were speaking at a conference held by the Animal Husbandry
Association of Vietnam (AHAV) in HCMC on June 22. More than 100 company
executives attended the conference on sustainable development for the sector
and how to capitalize on the opportunities from
Tran
Dinh Thien, director of the Vietnam Institute of Economics, said once the TPP
is signed, it will affect the local agricultural sector in general and the
livestock sector in particular as Vietnamese farmers will have to compete on
par with rivals in other member states of the multilateral trade agreement.
Nguyen
Duc Thanh, director of the
However,
Le Ba Lich, chairman of the Vietnam Feed Association, said
Lich
said these households are located in rural areas and where the economic
situation remains difficult. He added
Lich
noted that whenever experts mention the TPP, they would call on the
agriculture sector to develop a production chain but no one has pointed out
what the production chain should be like.
Thien,
who asked the livestock sector to develop the production chain, admitted that
he could only describe a general picture once
The
National Food Authority (NFA) of the
The
director of a rice export company in the Mekong Delta region confirmed with
the Daily on June 22 that
NFA then
allowed
With the
additional 100,000 tons of rice, the Philippines has agreed to import a total
of 750,000 tons of rice under government-to-government contracts, including
550,000 tons from Vietnam and 200,000 tons from Thailand.
According
to the Vietnam Food Association (VFA), its member companies have had
contracts to export around 3.6 million tons under government-to-government
and commercial contracts, down 8% year-on-year.
The
Brown
held that with a large and young population, the 90 million-strong Vietnamese
market has abundant development potential and plentiful investment
opportunities.
Earlier
this month, GEM successfully posted nearly 20 million exchange stocks between
the US Mass Noble Investments Limited and Vietnam’s Duc Long Gia Lai Group
(DLG) with a price of 12,500 VND (0.57 USD) per share and a rate of 1:1.4,
said Brown.
With this
transaction, the DLG has become the first firm to buy a foreign company
through exchanging stocks, officially owning Mass Noble and the ANSEN factory
in
So far,
GEM has announced investments in four Vietnamese firms, including the FLC
Group, Hoang Huy Group, Duc Long Gia Lai Group and Hoang Anh Gia Lai Group.
According
to Brown, GEM plans to continue buying more than 10 million DLG shares to
increase its ownership. By transferring Mass Noble to Duc Long Gia Lai, GEM
has become the largest foreign shareholder of the firm, which makes Brown a
member of the group’s Board of Directors.
As
scheduled, GEM will own more than 20 percent of Duc Long Gia Lai’s shares in
the future.
GEM is a
3.4 billion alternative investment group that manages a diverse set of
investment vehicles focusing on emerging markets across the world. The group
has invested in 305 companies in 65 countries.
Trade
liberalisation poses problems for local firms
Vietnamese
small- and medium-sized enterprises (SMEs) face increasingly tough challenges
because of their weak competitiveness and the government's ineffective
support policies, according to economist Nguyen Tri Hieu.
SMEs in
the near future would encounter fierce competition from foreign-invested
businesses, Hieu was quoted as saying in the Nguoi Lao Dong newspaper.
"Although
FDI capital is important for socio-economic development, domestic enterprises
still need support from the State," Hieu said.
FDI
enterprises are given priority in tax, land and administrative procedures.
"
The Mai
Lan Joint-Stock Company's KissMe tissue and toilet paper brand, for example,
has been making the product for 30 years.
Pham Nhu
Bach, Chairman and Director of the Mai Lan Co, said the KissMe brand was no
longer sold at supermarkets because of severe competition from FDI
enterprises.
The
paper brand is now distributed in smaller shops and through sales agents.
"For
three to four years, we have just produced a moderate amount in order to pay
our workers, because the outlet for the brand has become too narrow,"
Bach said.
Under
Bach
said domestic enterprises would then be unable to compete with foreign
rivals.
Vu Tien
Loc, Chairman of the Vietnam Chamber of Commerce and Industry, said nearly 70
percent of Vietnamese private enterprises did not make profits, although the
sector had contributed nearly 50 percent of GDP.
The
private sector must be a key driver for the country's economic growth, but
the country lacks a sufficient number of medium-sized enterprises that can
join the global value chain or directly engage with the international market,
according to Loc.
Domestic
businesses that want to increase competitiveness must have a large amount of
capital to renovate their technologies, Vietnamese economists have said.
Truong
Chi Thien, Director of the Vinh Thanh Dat Co, said his company wanted to
expand instant-egg exports but interest rates on bank loans were too high.
Though
the poultry egg sector has great potential, he said interest rates of 10
percent per year were fixed for the first year of a loan and then fluctuated
according to the market.
"When
we set up a business plan, we have to calculate input costs, and we do not
dare take a risk with the interest rate," he said.
Other
countries such as
Economists
have also said that new FTAs would create highly skilled workers who would
move to FDI firms for higher salaries and better working environment.
Measures
deployed to increase network quality
Developing
3G services, investing in 4G technology and building a heterogeneous
network-HetNet are all designed to optimise the costs and efficiency of the
network quality, said Jan Wassenius, General Director of Ericson
Although
explosive growth has been seen in 3G subscribers, there is still room for
Vietnamese telecommunications companies to promote 3G coverage. A survey
conducted by GfK – a market research company – revealed that 3G coverage
among mobile users in
The
survey also revealed that 67 percent of the respondents frequently use 3G,
mostly to read the news, look for information and log on to social networks.
The survey reported that 3G subscribers are expecting improvements in
transmission speed, wider coverage and internet price discounts.
By 2020,
3G and 4G technologies will be expanded with 3G upgrades into 3.5G and 3.9G,
said a representative from the telecommunications company Qualcomm.
Meanwhile,
HetNet, a multi-layered and extremely high capacity network, will be
prioritised in cities and densely populated areas with numerous obstacles to
strong network connections, such as high-storey buildings and large mobile
user traffic.
HetNet
offers various technology including 3G, 4G and wifi, as well as a mixture of
macro networks and Small Cells- a solution to increase data capacity and
provide coverage in buildings and shopping centres.
Experts
believed that HetNet would be relevant in every telecommunications market as
data service demand is expected to skyrocket. Currently, 50 percent of the
networks worldwide are implementing a multi-layered system while Vietnam
begins the switch from 2G to 3G.
In a bid
to increase network quality, providers need to apply App Coverage indexes
evaluating network quality to map out a plan and build a network. In
addition, Small Cells instalment should be used increase 3G service quality.
Network
quality for video applications is expected to be a future focal point, as
they currently make up 45 percent of the total data flow and the figure is
expected to reach 60 percent by 2020.
Salt
industry will be restructured
The
nation's salt industry will be restructured to add more value to its products
and ensure sustainable development, the Agriculture Ministry has
announced.
Under a
five-year restructuring (until 2020) action plan for the industry presented
by the ministry at a conference held in Hanoi on June 23, production
area would be expanded to 14,500ha with an annual productivity of 2 million
tonnes.
Infrastructure
upgrades including more efficient irrigation systems and application of
advanced technology in production are also mentioned in the plan as
part of efforts to increase the added value of salt products by at least 20
per cent.
The plan
seeks to set up a model for co-operation between farmers and enterprises in
the production and consumption of purified salt.
Deputy
Minister Vu Van Tam said that towards ensuring successful implementation of
the action plan, the Ministry of Agriculture and Rural Development
(MARD) has asked its Department for Agro-forestry, Fisheries and Salt
Production (DAFSP) to set up a salt production association.
He said
this association would serve as a bridge between salt enterprises and State
management authorities in securing rights and benefits for both farmers
and businesses.
The
ministry has urged salt producing localities to review their growth and
prepare restructuring plans that are in line with the national master
plan for the industry.
Conference
participants noted that Vietnam's salt production was mostly manual and
heavily dependent on weather conditions, affecting product volume and
quality. The industry is also finding it increasingly difficult to compete in
the domestic market against imported salt, they said.
An Van
Khanh, DAFSP deputy director, said current challenges facing the industry
included a high rate of unemployment among salt workers, low capacity,
and low consumption.
He said
the signing of several Free Trade Agreements would directly impact salt
production and consumption in the country.
Vietnam
has a total of 21 coastal provinces engaged in salt farming, from Hai Phong
City in the North to Ca Mau Province in the South.
The
industry employs 78,600 people and has an annual labour productivity of 15
tonnes per person. It has produced an average of 900,000 tonnes of salt
per year over the last five years.
However,
imported salt, mostly from Pakistan and India, has dominated the domestic
market, resulting in a surplus of Vietnamese salt.
Vietnam
produced 1.3 million tonnes last year alone, about 250,000 tonnes of which
were unsold. Yet, it also imported more than 350,000 tonnes of salt the
same year.
So far
this year, the stock of unsold salt has risen to 600,000 tonnes, four times
the figure recorded during the same period last year, the conference
heard
FrieslandCampina
inaugurates sustainable dairy zone in Ha Nam
FrieslandCampina
Vietnam (FCV) officially held an inauguration ceremony for a sustainable
dairy zone in Moc Bac commune, Duy Tien district in the northern
province of Ha Nam on June 24.
It marks
an important milestone in the cooperative project between Ha Nam provincial authorities
and the Netherlands Government to develop Vietnam’s dairy sector in a
sustainable manner.
The new
dairy zone is being developed as part of a larger public-private-partnership
project initiated in the province. The project aims to establish specialised
dairy zones for family farms that can contribute to food security while
creating jobs and reducing milk imports.
The
project includes the development of three dairy zones in Vietnam. Each dairy
zone will have at least 50 dairy farms producing about seven million
kilograms of fresh milk a year, when operational. The project implementation
is also expected to generate 345 jobs.
As the
main partner in the project, FCV will manage, control and execute the project
and provide direct investment.
It will
open 3 specialised dairy zones in Vietnam, including 2 dairy farms per zone
on a pilot basis. FrieslandCampina will also provide financial support
in the form of granting preferential loans to farmers as well as technical
training and advice on how to produce hygienic and quality milk at
competitive prices
Addressing
the event, Tran Quoc Huan, FCV deputy general director underscored the need
to develop material zones, establish partnership with farmers and help
them get access to modern techniques, loans and markets. He believed that
this is a solution for sustainable development in Vietnam’s rural areas.
Dell
to further invest in Vietnam
Vietnam
is an important market of Dell and the group will pour further investment
into the market, said Anothai Wettayakorn, managing director of Dell
Thailand and general manager for Indochina.
He said
that the recent Dell Solutions Tour Vietnam 2015 proved that the
country is a vital market for the company.
He
emphasized that Vietnam is one of 20 emerging markets, and Dell group will
further invest in improving the quality of its human resources,
products and services in the market to further meet consumers’ demand.
He added
that Dell is the first company to provide home maintenance and repair
services. Currently, Dell Vietnam is targeting enterprise customers and
will help them get the latest IT to improve their business activities.
In the
coming period, the group will focus on notebooks instead of tablets in the
Vietnamese market.
Show
promotes exports to S. Korea
Many of
Viet Nam's typical products like fruits and other agricultural products,
seafood, garments, plastic, and handicrafts are on display at Lotte Mart
Saigon South in District 7 until Sunday.
"Typical
Vietnamese branded products" hopes to create favourable conditions for
Vietnamese and South Korean firms to enhance co-operation and to promote
consumption among Vietnamese consumers and South Koreans living in Viet Nam.
The
event also aims to understand more about South Korean consumers' needs to
select suitable products for export to South Korea.
Hong Won
Sik, general director of Lotte Mart Viet Nam, said the event would help
Vietnamese firms export to South Korea.
The
supermarket plans to have the "Typical Vietnamese branded products"
programme at more than 100 Lotte Mart supermarkets in South Korea in October,
he said.
A
conference and business meeting between South Korean and Viet Nam will be
organised today at Lotte Legend to enable government agencies, business
associations, and businesses to understand more about the opportunities and
challenges thrown up by the Viet Nam-Korea Free Trade Agreement.
The
event was organised by Cong Thuong newspaper, Lotte Mart Viet Nam, Small and
medium Sized Enterprises Development Centre No 2, and the Investment and
Trade Promotion Centre of HCM City.
Korea is
the country's third largest trading partner and the biggest foreign investor.
Last
year Viet Nam's exports to the country were worth US$7.11 billion, a
year-on-year increase of 7.7 per cent, while it spent $21.74 billion on
imports.
CPI
up by 0.86% in first half
Consumer
price index (CPI) in the first half of this year increased by 0.86 per cent
over the same period last year, the General Statistics Office reported
yesterday.
The
average growth of CPI during the period was 0.1 per cent per month, the
lowest increase in the past ten years.
CPI in
June showed a month-on-month increase of 0.35 per cent.
The
goods that saw price growth included beverages and tobacco, garments,
footwear, construction materials, as well as medicine and health-care
services, marking an increase of 0.24 per cent, 0.17 per cent, 0.3 per cent,
and 0.38 per cent, respectively.
Other
goods also recorded growth, including 3.54 per cent in transport items, 0.26
per cent in cultural, entertainment, and tourism services, and 0.12 per cent
in other commodities and services.
Director
of the General Statistics Office Nguyen Bich Lam said the increase in CPI in
the first six months can be attributed to the Government's policies, including
the hikes in health-care services prices in HCM City from June 1, electricity
rates from March 16, and workers' minimum salary from January 1.
"The
State Bank of Viet Nam increased the interbank exchange rates twice this
year, which had significant impacts on the prices of a number of imported
commodities and materials, which further led to an increase in the prices of
various domestic products," he noted.
Market-related
factors also contributed to the rise in CPI, he said, adding that the first
two months of this year saw a high increase in the purchasing power of local
residents, as well as a rise in the prices of a number of commodities such as
beverages, tobacco, and garments and textiles on the occasion of Tet (Lunar
New Year festival). An increased demand for traveling during Tet and other
national holidays also pushed the CPI of tourism services up.
However,
Lam said, the increase in CPI in the first half of this year was lower than
the previous year's because of several reasons.
Firstly,
the winter-spring and summer-autumn crop got a bumper harvest, leading to an
abundant supply of food. Secondly, the prices of essential commodities in the
world market was quite stable.
Moreover,
oil and petroleum prices were reduced three times and increased three times
this year, but the increases were made at the end of May and early June so
that it did not much lead to the adjustment of CPI on oil and petroleum.
Meanwhile,
a reduction in the world gas price led to a decrease in the domestic gas
price.
"CPI
in the first six months of this year increased at a low rate, helping the
Government's target to keep inflation under control. However, potential risks
relating to a possible increase of oil and petroleum prices put pressure on
the tasks to curb inflation," Lam observed.
He
suggested that the Government continue guiding relevant ministries and
agencies to keep a close watch over changes in prices and markets, as well as
to increase the inspection and supervision of markets.
The
Government and a number of ministries should also consider a time to adjust
the prices of a number of essential commodities to avoid any huge impact on
CPI psychology, he added.
Garment
exports rise in first six months
The
value of Viet Nam's textile and garment exports reached US$12.18 billion in
the first six months of this year, the Viet Nam National Textile and Garment
Group (Vinatex) said.
It was a
10.26 per cent increase compared with the same period last year.
The
United States continued to be the largest importer of Viet Nam's textile and
garment products, accounting for 42 per cent of the national total export
value of $5.18 billion, a surge of 11.01 per cent. It was followed by the
European Union, which imported $1.45 billion worth of Vietnamese apparel, up
8.2 per cent.
Meanwhile,
the value of Vietnamese textile and garment exports to Japan and South Korea
reached $1.3 billion and $948 million, respectively, Vinatex said. Exports to
Japan and South Korea in the first half of this year were expected to grow
7.3 per cent and 8.33 per cent, respectively, against the same period last
year.
Vinatex
said Viet Nam was the second largest garment and textile exporter in Japan
and South Korea after China, and that the nation was continuing to expand its
market share in these countries.
Vinatex
earned $1.7 billion from exports in the first six months of this year, a
year-on-year rise of 10.7 per cent. The group's total revenue hit VND24.2
trillion ($1.12 billion) during the period, up 9.6 per cent, it said.
Since
January 2015, the group has been operating under the equitisation mode.
Vinatex, holding 53 per cent of the state capital in the group, has
implemented administrative procedures for listing on Viet Nam's securities
market, Vietnamplus reported.
So far,
the group has withdrawn 90 per cent of the total capital from non-core
business and has also gained about VND100 billion in profits.
Vinatex
General Director Le Tien Truong said the growth of the national textile and
garment export value in the first half of this year was slow, compared to the
rate of 19 per cent in the first half of 2014. But the export value is still
expected to reach the yearly target of $27 billion to $27.5 billion this
year.
He said
after the signing of the Viet Nam-Eurasian Economics Union (EEU) free-trade
agreement, Viet Nam could increase the export value of garment products to
the EEU by 50 per cent in the first year and 20 per cent annually in the
following years, compared with the figure of $300 million at present.
In the
coming three to five years, Viet Nam expects to be one of the top five
garment exporters to the EEU, he said.
TCC
issues securities fund certificates
Techcombank
Investment Fund Management Company (TCC) last Friday issued two fund
certificates on the securities market - Techcombank Equity Investment Fund
(TCEF) and Techcombank Bond Investment Fund (TCBF).
The
funds will have an initial chartered capital of VND60 billion (US$2.78
million) each and the bank of Standard Chartered Viet Nam will provide
depository services for these funds.
TCC offered
at least 6 million certificates for each fund at a face value of VND10,000
each, and the fee for initial certificate issuance was a maximum of 2 per
cent of each purchasing order value.
Investors
will be able to make purchasing orders from July 5 to August 30 this year
through Techcombank Securities Company (TCS).
A
purchasing order must be at least VND5 million ($231.48).
TCEF
will invest in large-cap companies that are leading the market, those that
have the potential to become market leaders, and the stocks that can make
long-term profits. It will also make investments in the bonds that are issued
and guaranteed by highly credited companies and banks.
TCBF
will make investments in government bonds or company bonds that are
guaranteed by highly credited banks and suitable for investors who prefer low
risks.
Shares,
bonds and savings are the equity of the two funds and will be distributed
flexibly on the market.
Lotus
Residences offers townhouses along Ha Long beach
Following
the success story of Little Vietnam last year, Syrena Viet Nam on June 24
introduced Van Lien (Lotus Residences) at Halong Marina Urban Area in Quang
Ninh Province.
The
commercial and resort project at a prime location offers a valuable and rare
opportunity for those seeking to own a townhouse along Ha Long beach, Syrena
Viet Nam Sales Manager Pham Van Nam stressed.
With 159
four-storey townhouses built in modern and environmentally friendly design
and offering a view of sea, Lotus Residences together with Little Vietnam –
the project featuring the country's most original architectural styles – is
expected to create a bustling commercial, cultural, and tourism destination
in Ha Long City.
Lotus
Residences, constructed on an estimated investment of VND680 billion ($31.48
million), offers prominent utilities such as a high-end resort area that
includes a swimming pool, modern gym, park, and kid playground.
For the
first time in Ha Long City, Syrena Viet Nam will introduce a rental pool
system at Lotus Residences. A rental pool is a popular management model
followed in resort projects, in which parties involved share rental income
from a property, as well as expenses associated with its ownership and
maintenance.
Syrena
Viet Nam has pledged a maximum combined profit of VND600 million (US$27,700)
for the first two years of the operation of townhouses in Lotus Residences,
joining the rental pool and 65 per cent of rental profits from the third
year. In addition, the owners of townhouses can enjoy free accommodation for
60 days every year.
The
construction of Lotus Residences started mid-May and is expected to be
completed within 14 months. The first 48 units of the project will be offered
for sale on June 28 in Ha Long City with promotion programmes by the
investor.
G5
Property Trading Floor Alliance has been appointed the official distributor
of the Lotus Residences project.
According
to Nam, investing in tourism property projects in Ha Long is promising as Ha
Long city is becoming more and more appealing for tourists, along with the
development of the transport infrastructure system.
Syrena
Viet Nam is a subsidiary of BIM Group, which has to its credit a diverse
portfolio of residential, commercial, and resort projects in Ha Long, Phu Quoc,
and Lao.
Lotus
Residences will add to Syrena Viet Nam's high-profile projects, which include
Little Vietnam, Crowne Plaza Vientiane, InterContinental Phu Quoc, Halong
Marina Plaza, and Coral Bay Townhouses.
Good
progress on Vietnam-EU free trade deal
The
progress on and quality of negotiations for an EU-Vietnam free trade
agreement (EVFTA) have been ensured, making the target for the conclusion of
the talks feasible, Minister of Industry and Trade Vu Huy Hoang said
following his working session with EU Commissioner for Trade Cecilia
Malmstrom in Brussels on June 23.
The two
sides are coming close to completing the talks three years after the launch
of negotiations and 13 official negotiation rounds and a number of mid-term
ones, the minister said.
The efforts
of Vietnam ’s negotiation team have paid off, he said, adding that there are
few remaining issues in the talks.
The
minister held that the EVFTA is a comprehensive, high-quality and new
generation deal covering a large number of matters, including the opening of
markets, services, investments, intellectual property, geographical
indications and public procurement.
Once the
agreement is signed and become effective, it is crucial to popularise it to
the public, first of all the business community to make them aware of both
benefits and challenges generated by the deal, he said.
Besides
communicating the agreement to the public, State management agencies should
consult the business community, organisations and individuals on optimising
the advantages of the deal and enacting measures to respond to its impacts,
added the minister.
He also
advised enterprises to stay active in increasing their competitiveness to
make full use of the agreement not only in the domestic market but also in
the European market.
Opportunities
brought about by the EVFTA are abundant, he asserted, noting that the EU is
currently Vietnam ’s second largest trade partner. Meanwhile, Vietnam is a
gateway for EU enterprises to a 600 million-strong ASEAN market with a GDP of
2.5 trillion USD, he said.
Once the
agreement takes effect, Vietnam ’s import-export revenue is expected to rise
by 4-6 percent compared to normal, he held, adding that the two sides’
economies can supplement each other as Vietnam needs machinery and equipment
from the EU while the EU needs agricultural and processed products which are
Vietnam ’s strength.
Vietnam
also welcomes EU investors in high technology and high added value projects,
he added.-
Foreign
investment in HCM City picks up in first two quarters
Ho Chi Minh
City, Vietnam’s largest economic hub in the south, has attracted 1.2 billion
USD in foreign direct investment (FDI) in the first six months of the year,
up 12.2 percent compared to the same period in 2014.
According
to the municipal People’s Committee, the city has granted investment licences
to 258 projects with a total registered capital of 798.4 million USD while 84
operational projects added 409.9 million USD to their capital.
During
the six-month period to June, the city’s export processing zones and
industrial parks also saw a surge in the amount of investment capital, which
reached 623 million USD, making up 89 percent of the yearly plan and up 87
percent compared to the first two quarters last year.
Currently,
there are nearly 1,370 operational projects in the city’s export processing
zones and industrial parks with total capital of nearly 8.8 billion USD.
FDI
increase shows improvement in the investing climate and efficiency of the
city’s policies to attract foreign investment, said Thai Van Re, Director of
the municipal Department of Planning and Investment, adding that FDI projects
landing in the city are shifting to high-technology and sustainable
development.
According
to Le Hoang Quan, Chairman of the municipal People’s Committee, the city
authorities are completing procedures to grant investment licences for
projects worth 1.2 billion USD in Quarter 3.
Six-month
GDP growth rate estimated at 6.11 percent
Gross
domestic product (GDP) growth rate was estimated at 6.11 percent in the first
half of 2015, compared to the 5.18 percent in the same period last year,
statistics revealed at a meeting on June 24.
GDP in
the agro-forestry-fishery sector rose 2.16 percent, industry and construction
upped 8.36 percent and services climbed 6.18 percent, said Bui Ha - Director
of the Department for National Economic Issues under the Ministry of Planning
and Investment.
In the
six-month period through June, the industrial production index hiked up 9.6
percent from a year before, indicating a recovery trend in the economy.
Production
value of the agro-forestry-fishery industries increased by only 2.41 percent
from the same period of 2014, a three-year low, to reach 489 trillion VND
(22.74 billion USD), according to Head of the Ministry of Industry and
Trade’s Planning Department Nguyen Thuy Hien.
Nguyen
Duc Hung from the Ministry of Agriculture and Rural Development blamed the
low growth partly on an array of difficulties the agricultural sector has
faced since the year’s outset, mainly the acute drought in the central and
Central Highlands regions.
The
Ministry of Agriculture and Rural Development called for more investment in
agriculture to address the difficulties.
At the
meeting, data also showed export was a highlight in the first six months with
77.7 billion USD worth of goods shipped abroad, rising by 9.3 percent from
the same period of 2014.
Yen
Bai mobilises 2.5 trillion VND to develop rural transport system
The
northern mountainous province of Yen Bai has mobilised 2.5 trillion VND
(116.3 million USD) over the past five years to develop rural transport
systems, heard a conference held in the locality on June 24.
Of the
total amount, 800 billion VND (37.2 million USD) was sourced from the state
budget, 515 billion VND (23.9 million USD) from the provincial budget, 600
billion VND (27.9 million USD) was contributed by local residents and the
remaining was from official development assistance and other social funds.
The fund
has been used to build over 463 kilometres of concrete roads, enlarge over
966 kilometres of dirt roads and build 42 concrete bridges and 19 suspension
bridges. Rural transport facilities in the locality have seen stellar
improvement, creating an impetus to develop the local socio-economy.
Speaking
at the event, Deputy Minister of Transport Nguyen Hong Truong spoke highly of
the achievements made by the province in the past few years while calling for
further activities to foster rural transport construction to meet local
socio-economic development.
He added
that the province should mobilise additional social resources and seek
suitable mechanisms to improve rural transportation while ensuring traffic
safety in the locality.
Ta Van
Long, Standing Vice Chairman of the provincial People’s Committee, said that
the province sees rural transport system development as a key mission for the
next few years, adding that transport sector and relevant agencies need to
study and build projects to develop rural transportation in 2016.
He also
underscored that Yen Bai localities must enhance road maintenance and
management to ensure sustainable transport infrastructure.
On the
occasion, 12 organisations and five individuals were presented with
certificates of merit from the Minister of Transport for their contributions
to rural transportation development.
Binh
Duong: FDI attraction already surpasses yearly target
The
southern province of Binh Duong has attracted over one billion USD in foreign
direct investment (FDI) in the first six months of 2015, surpassing its set
target for the whole year.
According
to Director of the province’s Planning and Investment Department Nguyen Thanh
Truc, the province has licensed 102 new projects with registered investment
of 712 million USD, and allowed 66 existing projects to increase their
capital in the period.
Among
total registered investment capital, 270 million USD has been poured into
supporting industries.
According
to Chairman of the province’s People Committee Tran Van Nam, three big FDI
projects with a total investment of three billion USD are pending in 2015,
including tourism projects in Dau Tieng and BacTann Uyen districts and a
garment and textile project. They are in the process of evaluating the
investments’ impacts on the environment.
The
province is currently home to 2,490 valid FDI projects with a total capital
of 21.3 billion USD, generating jobs for hundreds of thousands of workers.
ANZ
reports high consumer confidence in June
The
Vietnam consumer confidence index (CCI) is up 2.9 point to 143.1 points in June-
a new record high, according to a research report released on June 24 by the
ANZ Bank.
According
to the bank, the country’s CCI remains well above its long –term average of
137.7 and is more than 10 points above its figure for June 2014 of 131
points.
The bank
said the increase in June was driven by strengthened confidence about the
Vietnamese economy over the next 12 months and the next five years as well as
about personal finances over the next 12 months.
Of the
respondents, 61 percent ( up 5 percent) expect their families to be “better
off” financially by this time next year ( the highest ever recorded for this
indicator ) compared to only 5 percent ( unchanged) who expect to be “worse
off” financially.
In the
longer-term, 66 percent (up 5 percent) believe Vietnam will have “ good
times” economically over the next five years.
According
to ANZ Chief Economist for South Asia, Asean and Pacific Glenn Maguire,
Vietnamese consumer sentiment is clearly echoing an economic recovery that is
both broadening and strengthening.
Source : VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Chủ Nhật, 28 tháng 6, 2015
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét