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BUSINESS IN
BRIEF 12/12
The
Vietnam Cashew Association (VINACAS) is working with the Cambodian Ministry
of Agriculture, Forestry and Fisheries to establish a cashew farming area in
VINACAS
President Nguyen Duc Thanh unveiled the information at the association’s
seminar in
Addressing
the event, Thanh said
However,
the domestic supplies of cashew nuts have only satisfied about 20-35 percent
of the firms’ demand for materials while imports of cashew face risks from
quality control and payment, he noted.
VINACAS
guaranteed to purchase all the amount of cashew nuts to be harvested on the
area and will closely coordinate with
Director-General
of the Cambodian General Department of Agriculture Hean Vanhorn said
VINACAS
decided to provide
Vietnam-Japan Joint Initiative helps improve business climate
As
many as 28 policy dialogues were held between Vietnamese and Japanese
agencies involved in the sixth phase of the Vietnam-Japan Joint Initiative,
which lasted from August 2016 to December 2017.
The
outcome was released at a high-level meeting of the Joint Committee of the
Vietnam-Japan Initiative held in
The
Japanese side has made many constructive policy recommendations, which have
been acquired by concerned Vietnamese ministries and agencies to serve the
refining of law and policy as well as the enforcement process.
According
to the committee, 19 out of 32 items identified to be done in the sixth phase
have been carried out soundly as scheduled, covering services, support to
small-and medium-sized enterprises, logistics-transportation and
labour.
Meanwhile,
the seven stagnant items dealt with labour issue, regulations for foreign
investors in the Investment Law, the Law on Business and the Land Law as well
other laws regarding investment and business, and pharmaceutical product
distribution.
The
two sides will continue to discuss the six items that have yet to be
realised.
They
agreed to soon carry out the seventh phase of the project with new approach
and implementation method suitable with the reality.
Major,
feasible policy recommendations are expected to be made at the seventh phase,
contributing to improving
Addressing
the meeting, Vietnamese Ministry of Planning and Investment Nguyen Chi Dung
praised efforts made by Vietnamese ministries and agencies and Japanese
businesses over the past 14 years of implementing the initiative.
Their
efforts have helped create a favourable and competitive business climate in
“
Japanese
Ambassador to Vietnam Kunio Umeda expressed his hope that the Vietnamese
Government will firmly realise industrial development policies for the mid-
and long-terms and macro-economic targets such as economic growth rate,
inflation and trade deficit.
The
Japanese Government will actively join hands with its Vietnamese counterpart
to popularise valid policies in the fields of production and industry, while
calling for Japanese investments in
The
US has been a leading importer of food and agricultural products from Vietnam
and the export growth is forecast to reach 11 percent this year, heard a
seminar in Ho Chi Minh City on December 7.
According
to the Ministry of Industry and Trade, the
Participants
noted that the US market’s attraction is posing fiercer competition to
Vietnamese exporters in addition to the country’s strict regulations on food
safety set out by the US Food and Drug Administration (FDA) and the Food
Safety Modernisation Act (FSMA).
A
representative of
It
has also assisted businesses of the nations in seeking cooperation
opportunities in business, investment and export-import, while working with
ministries and sectors to resolve trade disputes concerning
Trade
ties between
The
Chairman
of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said
The
country has also continually reformed institutions and policies to create the
best possible conditions for foreign firms to do investment and business, he
noted.
Loc
added that
Pham
Tuan Anh, Deputy Director of the Department of Industry under the Ministry of
Industry and Trade, said
However,
Taiwanese companies haven’t formed connections with Vietnamese firms, he
said, noting that Vietnam prioritises projects using high technology and
creating more added value. Therefore, it hopes Taiwanese businesses will
actively team up with Vietnamese companies and promote a new investment
inflow into the country.
Xu
Sheng Xiong, Chairman of the Taiwan Industry Association, said
According
to
Aside
from stronger investment, they can also increase the exchange of experiences
in international cooperation, manpower training, and hi-tech application to
improve the capacity of Vietnamese small- and medium-sized enterprises, Xu
said.
Workshop spotlights Vietnamese IT services, products
The
Ministry of Information and Communications organised a workshop on
Vietnamese-branded IT products and services in
According
to the Department of Information Technology, Vietnam’s IT sector groups
24,000 businesses, which generate jobs for over 700,000 personnel and
contribute 34 trillion VND (1.49 billion USD) in tax to the State budget.
There
are more than 2,700 companies working in the digital content industry, which
have seen favourable growth conditions in
To
Thi Thu Huong, deputy head of the department, said the digital content
industry makes up just a small part in total revenue of the IT sector. It
houses large amount of firms but most of them have small and medium scale,
she added, noting that there are not many Vietnamese – branded IT products
capable of winning a market share.
Pham
Thi Ly, head of the Centre for Development and Integration, said enterprises
must defend themselves against fake products, suggesting that transparent
origin information can boost competitiveness of Vietnamese products amid
integration.
Le
Quang Tu Do, Head of the Authority of Broadcasting and Electronic
Information, the Ministry of Information and Communications, said monitoring
the operation of enterprises operating domestically is tighter than that of
firms working across borders. He said the situation might reduce
competiveness capacity of domestic businesses.
Do
said support policy is needed to help Vietnamese companies build brands to be
able to compete against those from foreign countries, which are now more
popular in the Vietnamese market.
Dak Lak’s food production reaches record high
Despite
unfavourable weather conditions, total food production in the Central
Highlands
Farmers
in the province cultivate three main food crops: winter-spring, summer-autumn
and autumn-winter.
Local
ethnic people were supported to switch from rice to hybrid maize or other
short-day food crops in fields suffering from water shortage, which bring in
better economic efficiency. They have also used new high-yield hybrid rice
and maize varieties in the three crops.
Relevant
agencies have guided local farmers in cultivation and disease prevention
techniques, contributing to high yields of rice and maize, at 6.3 tonnes per
hectare for rice and 5.1 tonnes per hectare for maize.
Currently,
Dak Lak farmers are rushing off their feet to repair irrigation systems and
prepare soil and field for the 2017-2018 winter-spring crop.
Experts urge expanded cultivation of fruit exports
More
farmland should be devoted to cultivation of fruit, especially key exports,
experts said at a conference held in the Mekong Delta
Nguyen
Hong Son, head of the Department of Crop Production under the Ministry of
Agriculture and Rural Development, said on Tuesday that focus should be on
quality to ensure safety and hygiene of fruit exports.
Reducing
post-harvest losses and increasing capacity in storage were also needed, he
said.
Son
said that fruit cultivation areas had increased in recent years, with a total
of over 857,000ha. The increase was partly due to farmers shifting from
cultivating rice to fruit.
The
areas for fruit growing are mostly in the Cuu Long (Mekong) Delta and Hong (
Because
of the use of advanced technologies, fruit yields have surged in recent
years.
Cao
Van Hoa, a high-ranking official from the Department of Agriculture and Rural
Development of Tien Giang, said his province had nearly 73,000ha of fruit,
with an average of 1.3 million tonnes produced each year.
Nguyen
Thanh Tai, deputy director of Dong Thap’s Department of Agriculture and Rural
Development, said his province had over 27,000ha of fruit cultivation, with
some areas growing famous fruits like Cao Lanh mango, Chau Thanh longan and
lemon, and Lai Vung mandarin.
In
the 2016-17 period, local farmers switched to fruit from rice on a total of
nearly 3,000ha, he added.
At
the conference, speakers noted that fruit exports had yet to reach their
potential even though efforts had been made to expand cultivation.
Poor
storage and harvesting methods had contributed to the slow growth of fruit
exports.
Vo
Mai, deputy chairwoman of the Viet Nam Gardening Association, said the
biggest weakness was processing, this was why 80 per cent of fruit was sold
in the domestic market, with most of it consumed raw.
Mai
suggested that the Government develop better management methods. Each fruit
should have a specialised area, she said, as it would be easier to manage,
process and ensure food hygiene and safety.
These
areas should be developed under VietGAP and GlobalGAP standards, she added.
Conference
attendees also suggested that enterprises and farmers improve cooperation to
ensure large-scale production and authentic origin.
Le
Quoc Doanh, deputy minister of Agriculture and Rural Development, said that
He
also said that prices and yields were not stable, and that competition from
other markets was a significant burden.
To
develop better production methods, the country needs to improve cooperation
among all involved parties, and process and diversify fruit products to
ensure added value.
More
trade promotions are also needed to reduce the dependence on one market, he
said.
In
recent years, national vegetable and fruit export revenue has increased, with
US$2.4 billion recorded last year, a rise of 33.6 per cent year-on-year.
This
year, it is expected to be between $3.46 billion and $3.63 billion. With this
figure,
Vietnamese
fruits are exported to 60 nations and territories. The main fruit exports are
dragon fruit, pipe apple, mango, jackfruit and papaya.
They
were selected from nearly 500 entries to the contest, jointly conducted by
the Viet Nam Chamber of Commerce and Industry (VCCI) and the Viet Nam
Business Council for Sustainable Development (VBCSD). Businesses include Phu
Nhuan Jewelry JSC, Da Nang Port Logistic JSC, Thang Long Invest Group,
Herbalife Viet
Heineken
The
company made a significant economic contribution to
According
to the organising board, this year’s programme assessed firms on the basis of
134 criteria, focused on socio-economic and environmental aspects. In the
future, the list of criteria will be simplified so that it can be applied to
micro- and small- and medium-sized enterprises.
Addressing
the event, VCCI President Vu Tien Loc highlighted the presence of new private
firms in this year’s ranking, saying that this proves the country’s business
climate is improving. Tran Ngoc Anh from Dekalb Viet Nam, a Monsanto entity
that sells genetically modified seeds to farmers and is one of the honoured
firms, said the recognition gives her company motivation to pursue
sustainable development goals at home and abroad.
The
programme was first held in 2016 and will be an annual event.
This
year, the companies received three different types of honors including the
sustainable business certificate, the sustainable enterprise certificate for
excellent manufacturing enterprises and the sustainable business certificate
for excellence enterprises in trade and services.
The
certificates aim to encourage businesses in
Agribank and Bao Viet sign co-operation agreement
The
Bank for Agriculture and Rural Development of Viet Nam (Agribank) and Bao
Viet Holdings signed a co-operation agreement on Wednesday.
Under
the co-operation agreement, Agribank and Bao Viet have committed to
prioritise the use of products and services of each other and exploit the
strengths and potential of each party to raise efficiency and competitiveness
for deeper and further integration.
Tiet
Van Thanh, general director of Agribank, said through the co-operation with
Bao Viet, a leading financial-insurance group in Viet Nam, Agribank hopes
that it will successfully implement the Party’s resolutions and the
Government’s policy on promoting the leading role of State corporations and
enterprises in supporting each other to develop sustainably, reach out to the
world and contribute to the socio-economic development of the country.
At
the signing ceremony, Nguyen Quang Phi, Bao Viet general director, said Bao
Viet and Agribank have many similarities in size, network and fields of
operation. Through the co-operation agreement, the commitment to use each
other’s products and services will help the two maximise their potential and
strengths, he said.
Northwestern region targets to welcome over 16 million
tourists by 2020
The
provinces of Hoa Binh, Son La, Lai Chau, Dien Bien, Phu Tho, Lao Cai, Yen Bai
and Ha Giang has huge potential and advantages for tourism development as it
boasts beautiful landscapes and historical sites, rich natural resources,
diverse ecology and cultures of ethnic minority groups.
However,
there remain obstacles hindering regional tourism development including
difficult terrain, poor infrastructure and limited resources.
The
region lacks high-class tourism services to keep tourists longer, they said,
adding that promotion has also been poor, with few travel firms operating in
the region.
The
insiders also agreed on the need for more human resources training, the most
serious problem facing the provinces’ tourism, as 60 percent of local tourism
workers have no professional training.
Home
to more than 30 ethnic minority groups, the region should focus on developing
community-based tourism to introduce tourists to the beauty of the people,
cultures and lifestyles of local ethnic minorities, they said.
Over
the years, northwestern provinces have tried to create the best conditions
for different economic sectors to invest in tourism. Transport infrastructure
works serving tourism have been built, including the Noi Bai-Lao Cai
Expressway, National Highway 6, and a railway linking Lao Cai and
Luu
Duy Linh, Deputy Director of the Hoa Binh provincial Department of Culture,
Sports and Tourism, said regional provinces have already developed a road
tourism route, National Road 6, connecting
The
provinces are also surveying a river tourism route along the Da River that
allows tourists to see the Hoa Binh, Son La and Lai Chau hydropower
reservoirs, he said, adding that the route is expected to be launched at the
end of this year.
Linh
stressed the need for northwestern provinces to promote their strengths and
create distinctive products based on unique cultural values, landscapes, and
the environment.
He
said Hoa Binh will focus on the culture of the Muong ethnic group as it is a
typical feature of the province while Son La and Dien Bien will pay attention
to the cultures of Thai, Mong and Dao ethnic people.
According
to Ha Van Sieu, Deputy Director General of the Vietnam National
Administration of Tourism, National Tourism Year 2017 in the northwest has
helped awaken the region’s potential and open up opportunities for the
development of tourism.
Themed
“Colors of the Northwest”, the event has offered a chance for the provinces
to introduce their tourism potential, cultural identities and heritage values
to domestic and international visitors, while creating a breakthrough in
tourism development, building new products and enhancing links among
localities in the field, he said.
To
serve National Tourism Year 2017, the region has invested in developing eight
attractive tourism products, including community-based tourism, tours to
discover terraced fields and mountainous market-days, spiritual tourism along
the
There
is also a tourism program to discover roads where Vietnamese soldiers marched
during the Dien Bien Phu Campaign and tours designed for those who want to
conquer the summits of
Vestas and Tan Hoang Cau sign MoU aims to accelerate wind farm
development
Danish
wind turbine manufacturer Vestas and locally-invested Tan Hoang Cau signed a
turbine supply contract for the 30MW Huong Linh 1 wind farm as well as a
Memorandum of Understanding (MoU) for the pre-development of three other wind
projects.
This
turbine supply contract for Huong Linh 1 wind farm is estimated at more than
€22 million ($26 million). Huong Linh 1 wind farm is located in the central
Mai
Van Hue, chairman of Tan Hoang Cau (THC), said, "We are committed to
deploying the latest technology and wind turbine models to bring the highest
efficiency for the projects. Therefore, we are partnering up with Vestas, the
industry leader, to help us bring this project to life.”
Clive
Turton, president of Vestas Asia-Pacific, said, "
Vestas
is very excited for the partnership with
Vestas
is
“We
will engage, expand, and deepen our capabilities in
Previously,
Vestas supplied turbines for the 30MW Huong Linh 2 project in the central
Seafood exports target forecast to achieve one month ahead of
schedule
This
year’s seafood export turnover is forecast to expand by 6% to US$7.4 billion
when compared to last year’s figure, and is set to fulfill its target one
month ahead of schedule despite facing a number of notable, says the Vietnam
Association of Seafood Exporters and Producers (VASEP).
In
2017, seafood exports are encountering difficulties due to low market demands
and stringent technical barriers set by major importers.
According
to initial statistics from the General Department of Vietnam Customs in the
ten months leading up to mid November, aquatic export products have brought
in over US$7.2 billion in revenue and seafood export turnover in November
alone is estimated at US$728.118 million, thus lifting the 11 month turnover
to US$7.565 billion in total and surpassing the set target by US$156 million.
At
present, there has been a change in the ranking of
Specifically,
seafood exports to the EU in October rose 37.5% to US$168.803 million over
last year and up 8.84% from a month earlier. In the first ten months of the
year, seafood exports to the EU market surged an impressive 21.2% to
US$$1.215 billion.
This
is the first time that the EU has become the No 1 destination for
Meanwhile,
the
Seafood
exports to the Japanese market have soared 21.8% and are projected to
maintain this high growth rate thanks to price hikes in the Japanese Yen
(JPY) against other foreign currencies.
Despite
fast-growing consumption demand of aquatic products in
To
meet domestic consumption demand and ensure material resources for seafood
processing plants, seafood import encouragement policies have been
adopted by the Chinese Government to reduce the catch numbers of aquatic
products to protect the fisheries sources and manage them more sustainably,
thus facilitating Vietnam’s seafood exports to the highly lucrative
market.
Truong
Dinh Hoe, VASEP Secretary General attributes the shrinking seafood export
turnover to the
Mr
Hoe highlights the EU’s strengthened import of Vietnamese shrimp, especially
processed products of high added value and impact of Vietnam-EU Free Trade
Agreement (EVFTA to take effect in2018 as contributory factors to
Local
businesses have managed themselves to boost exports and secured a firm
foothold this profitable market, which begins to focus on higher imports of
Vietnamese goods
The
export volume of seafood has seen no high increase this year but the value is
on an upward trend as businesses have concentrated more on producing
high-added value export products, primarily targeting the EU market, thus
accelerating the finalization of seafood export turnover target one month
ahead of schedule, Mr Hoe explains.
Despite
still being the primary destination for
Therefore,
the seafood industry along with government agencies need to take drastic
actions to avoid the risks of being dealt with a ‘yellow card’ and a ‘red
card’, which would greatly affect next year’s export plan.
Khanh Hoa to establish special administrative-economic unit
The
People’s Council of the central
The
special unit will cover all the area and population of Van Ninh district,
including about 111,000 ha of land and water surface and more than 128,000
people in 12 communes and one town.
Van
Phong Bay and the Northern Van Phong area hold an important strategic,
geological-economic location for the country and the region, able to become a
gateway for
The
area is also expected to help boost the nation’s maritime economy, the
southern central region, the
The
special unit will focus on developing sea transportation, trade-financial
services, tourism, health care, education and high-tech industrial
development.
The
People’s Council has assigned the provincial People’s Committee to complete a
dossier for the project to be submitted to competent agencies.
Northern
Van Phong is one of the three special administrative-economic units initially
developed on the basis of the the Conclusion No 21-TB/TW issued on March 23,
2017 by the Politburo. The others are Van Don in the northeastern province of
Quang Ninh and Phu Quoc in the Mekong Delta
The
Ministry of Planning and Investment expected that with preferential
incentives, the three special zones would attract investment worth dozens of
billions of dollars, which would generate huge sums in terms of added value
and boost average income to 12,000-13,000 USD per capita.
The
ministry estimated that the special zones would contribute billions of
dollars in taxes and fees to the State budget.
Viettel telecom wins Best Fintech Companies award
The
awards were organised by the US-based International Data Group.
After
six years of operation, BankPlus has connected with 15 banks in
The
application allows money transfers and payments at 85,000 transaction
stations nationwide or via mobile phones.
Covering
12,000 square metres, the project is valued at 10 million USD and is the
province’s first wholly foreign-invested project in hospitality and services.
The
10-storey buildings offer 76 houses from 26-54 square metres per apartment
and provide amenities like offices for lease, a golf course, conference
rooms, restaurants and supermarkets.
Speaking
at the inauguration ceremony, Minister-Chairman of the Government’s Office
Mai Tien Dung lauded the construction of the buildings, calling it a significant
work between two close partners like
He
asked Ha
Osamu
Yasuhara, Chairman of the Fuji Engineering Group, for his part, recognised
the support from central and local authorities for the project, adding that
the buildings will not only satisfy investors’ demands but help complete
infrastructure facilities and create an ideal investment climate for Japanese
firms in the locality.
Vinh Long pledges optimal conditions for foreign investors
The
Mekong Delta
Secretary
of the provincial Party Committee of Tran Van Ron made the statement at a
seminar to introduce local potential on economy, trade, investment, tourism
and education to foreign diplomatic agencies, consulate generals,
associations and firms in
Prominent
attendees at the event included representatives from Consulate Generals in
The
seminar discussed green energy, hi-tech agriculture, clean water, the
environment, climate change adaption, ecotourism and human resources
training.
Ron
introduced six key aspects of the province, including agriculture,
aquaculture and livestock, handicrafts, tourism, human resources training and
industrial parks (IPs).
He
called on investors to pay attention to local IPs, while describing the event
as preparation for the Vinh Long Investment Promotion Conference to be
chaired by Prime Minister Nguyen Xuan Phuc in March 2018.
International
participants also shared experience to promote local potential, thus luring
foreign investors, particularly in industry, tourism and agriculture.
They
expressed their hope that the province will offer more incentives for
investors and focus on training human resources to meet requirements of
investors.
Rang Dong, Sojitz Pla-Net sign strategic partnership
Rang
Dong Plastics Joint Stock Company (RDP) and Sojitz Pla-Net, a Japanese
corporation, signed a strategic partnership on December 6, taking a new step
towards cooperation between the two sides.
The
existing co-operation between them is the development of the Rang Dong Long
An Plastics factory with a total investment at 32 million USD in the first
stage.
Earlier,
RDP sold 20 percent of its capital at the Rang Dong Long An Plastic Joint
Stock Company that operates the Rang Dong Long An plastics factory for Sojitz
Pla-Net, reported tinnhanhchungkhoan.vn.
Becoming
RDP’s strategic shareholder, Sojitz Pla-Net will supply raw material and have
support in soft skills as well as in sales for RDP via Sojitz Planet’s retail
system in
RDP
chairman Ho Duc Lam said when being put into operation, the project of Rang
Dong Long An will meet increasing demand on plastics in the domestic market
and also exports to many countries.
The
factory is equipped modern machinery, including packaging workshop meeting
HACCP standard, to develop global supply chain in line with standards of the
Lam
expected with this cooperation, RDP would sustainably develop to become the
leading company in
Home Credit wins Việt Nam Outstanding Banking Award
Consumer
credit company Home Credit Viet
The
award is given by the Viet Nam Bank Association and IDG Group based on a poll
of consumers.
Nine
years ago Home Credit had become the first foreign company in the consumer
finance market, and it is now one of the biggest companies in Viet Nam,
offering consumer loans for buying motorbikes, home appliances and
electronics and cash loans.
Recently
it launched new products targeting education and healthcare.
Last
month, the company unveiled its new brand name identity set, further
strengthening its people-oriented business strategy.
It
has more than 7,000 offices across all country and 10,000 employees and a
customer base of 6.76 million.
GoBear
GoBear
GoBear
is
The
new website features an upgraded credit cards comparison function and is
expected to provide users with an enhanced experience which will make
searching and comparing credit cards on the website easier than ever before.
“The
fact that GoBear Vietnam has hit nearly one million visitors in our very
first year of operation shows Vietnamese people’s genuine interest in finding
the right personal finance products and confirms GoBear’s vast growth
potential. GoBear is looking forward to receiving even more support from our
users and business partners, and to bringing more transparency and fair
pricing to the market in our next phases of development,” said Andre
Hesselink, CEO and co-founder of GoBear.
“Overall,
GoBear has shown strong month-on-month growth ever since we started our first
office in
GoBear
is
Headquartered
in
As
one of the fastest growing fintech startups in
GoBear
simply offers consumers a free and transparent comparison process based on
their financial needs and is not influenced by service providers’ commissions
or advertising. The result is a user-friendly experience that empowers users
to make better informed decisions efficiently, saving both time and money.
$26 million wind turbines for Quang Tri
Danish
wind turbine manufacturer Vestas and local company Tan Hoang Cau (THC) signed
a turbine supply contract for the 30MW Huong Linh 1 wind farm as well as a
memorandum of understanding (MoU) on the pre-development of three other wind
projects on December 7 in
The
turbine supply contract for the Huong Linh 1 wind farm, located in the
central
“We
are committed to deploying the latest technology and wind turbine models to
bring the highest efficiencies to the projects,” said THC Chairman Mr. Mai
Van Hue. “Therefore, we are partnering up with Vestas, the industry leader,
to help us bring this project to life.”
President
of Vestas Asia-Pacific, Mr. Clive Turton, said the company views
“Vestas
is
Last
year witnessed the establishment of Vestas
Since
its establishment in 1979, Vestas has been committed to harvesting the
potential wind holds for the planet’s energy supply. “Our mission is to
deliver best-in-class sustainable energy solutions and set the pace in our
industry to the benefit of our customers and our planet,” Mr. Turton added.
Vestas
holds the world’s largest fleet of wind turbines, having installed over
59,909 in more than 76 markets on six continents. This 83-GW installed
capacity generates more than 205 million MWh of electricity per year,
globally reducing carbon emissions of CO2 by more than 110 million tons.
Vestas also services over 71 GW across the globe, both proprietary and
multi-brand.
“Vestas
is fully committed and optimistic regarding the development of wind in
VNN
|
Thứ Ba, 12 tháng 12, 2017
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