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BUSINESS IN
BRIEF 9/2
Survey says 70% of Japanese enterprises wish to expand
business in Vietnam
The
survey covers the operations of Japanese enterprises in Asia and Oceania and
its findings were announced by the Japan External Trade Organisation (JETRO)
in
Chief
Representative of JETRO Office in Ho Chi Minh City Koji Takimoto said that
the survey received valid responses from 4,630 Japanese enterprises in 20
countries and territories around the world, including 652 Japanese
enterprises in
The
survey showed that 65.1% of Japanese enterprises operating in
In
addition, about 70% of Japanese enterprises expressed their intentions to
expand their business in
Japanese
enterprises mentioned key factors for their developments in
However,
the language barriers, incomplete legal system, complicated tax procedures,
and limited sources of materials and components remain key obstacles for
Japanese enterprises operating in
Japanese
enterprises invested a record high of more than US$9.11 billion in
Infortrend assigns Nhat Tien Chung as
The
Nhat Tien Chung Telecom Informatics Co. Ltd. signed a strategic partnership
agreement on February 6 with Infortrend, one of the world’s leading storage
system manufacturers and specializing in producing Storage Area Network (SAN)
and NAS (Network Area Network) appliances for storage systems.
Vietnamese
businesses will have an additional choice when building storage systems,
especially during the fourth industrial revolution (Industry 4.0) and the
ongoing digital revolution.
Nhat
Tien Chung will be an authorized distributor of Infortrend’s products in
Infortrend
is well-known in the field of providing high performance storage solutions.
Founded in 1993, it has kept its focus on storage solutions. All Infortrend
equipment is researched, manufactured, and controlled for complete quality.
Its products range from a variety of devices for different storage needs,
from SMEs to big corporations, and from file sharing to the computing
infrastructure for virtualization.
“Infortrend
has a clear direction and only focuses on storage devices and related storage
solutions,” said Mr. Nguyen Chi Ha Hai, Deputy Director of Nhat Tien Chung.
“Solutions from Infortrned are extremely important to Nhat Tien Chung,
especially during the Industry 4.0 era, when Vietnamese businesses are
increasingly aware of the need for serious data storage and protection. They
are more willing to invest in protecting, exploiting, and managing data
efficiently, improving availability, and accelerating business operations. We
strongly believe in their product quality and their global prestige.”
Nhat
Tien Chung has been a Vietnamese server provider for more than ten years to
business partners, hosting providers, software developers, and datacenters in
Novaland's 2017 net profit at $91mn, up 22.5%
The
Nova Real Estate Corporation (Novaland) has released its Q4/2017 accumulated
financial statement, in which total revenue in the quarter reached nearly
$259 million, 32-times higher than in the fourth quarter of 2016, while net
profit after tax (NPAT) was $31.5 million, up an impressive 629 per cent.
Total
revenue in 2017 was $512 million, an increase of 58 per cent against 2016 but
only nearly 70 per cent the target set.
The
positive growth results from it delivering seven projects in the last quarter
of the year with 3,596 apartments, a touch higher than the 3,325 in 2016.
Novaland
said it would continue to focus on residential while expanding into the new
product types of hospitality and commercial under the second stage of its
strategic roadmap.
There
were six key projects in Ho Chi Minh City contributing to revenue, of which
36 per cent came from Lakeview City in District 2, 16 per cent from Rivergate
Residence in District 4, 15 per cent from The Tresor Residence in District 4,
9 per cent from Gardengate Residence in Phu Nhuan district), 8 per cent from
Lucky Palace in District 6, and 6 per cent from Orchard Garden in Phu Nhuan
district.
Most
projects have seen high absorption, from 94-100 per cent, except for
Rivergate Residence (83 per cent). The average unit price was around
$145,000, an increase of 18 per cent compared to 2016. Novaland last year saw
5,802 successful transactions, accounting for about 18 per cent of the total
apartments sold in
The
company has about 25 projects under development that will be delivered in the
near future. Handover is expected this year in eleven projects, contributing
significantly to both revenue and inventory reduction.
Novaland
completed the acquisition of two projects in
2017
revenue and NPAT increased 58 per cent and 24 per cent year-on-year,
respectively, with both representing nearly 70 per cent of their target.
Owners’
equity and charter capital increased 32 per cent and 9 per cent,
respectively, via the successful private placement of ordinary shares for
Credit Suisse AG Bank, Singapore Branch’s loan conversion of $60 million in
the second quarter of 2017, and 20 million shares in an employee stock
ownership plan (ESOP) issued in the fourth quarter. Credit Suisse also
approved raising the credit limit to $125 million, which has been fully
disbursed for Novaland to finance its projects.
Bach hoa Xanh to have 1,000 HCMC stores this year
The
top priority of the Mobile World Investment JSC (MWG) this year is to develop
the Bach hoa Xanh chain to about 1,000 stores in
The
company wants to turn the chain into a large, efficient business and see electronics
revenue double that of electrical appliance revenue. “If this is successful,
we will outstrip our revenue target for 2018,” Mr. Doanh said.
MWG
posted total revenue of VND66.3 trillion ($2.92 billion) in 2017,
representing year-on-year growth of 49 per cent and 105 per cent of the
annual target of VND63.3 trillion ($2.78 billion).
After-tax
profit was VND2.2 trillion ($96.8 billion), representing year-on-year growth
of 40 per cent and 100 per cent of the annual target.
It
opened 742 new stores during the year, including 121 thegioididong.com, 396
Dien may Xanh, and 235 Bach hoa Xanh stores.
It
had 1,997 stores in total by the end of the year, including 1,072
thegioididong.com, 642 Dien may Xanh, and 283 Bach hoa Xanh stores.
Online
revenue in 2017 reached VND5.7 trillion ($250.9 million), a year-on-year
increase of 69 per cent and 86 per cent of the annual target.
Regarding
Big Phone - its mobile retail chain in
MWG
is also is in the process of completing the acquisition of the Phuc An Khang
pharmaceutical chain and expects to open 100 stores in
MWG
also bought shares in electronics retailer Tran Anh, taking over its IT and
accounting systems and sending key personnel to operate the retailer.
Overseas remittances heating up for Tet holiday
Over
the course of January, the total overseas remittances wired from compatriots
to families and relatives living in
Over
the last five years, “More than four million Vietnamese compatriots currently
staying and working in 187 foreign countries were reported to frequently
conduct overseas remittance transactions, especially around the last days of
the lunar year as this period usually records a noteworthy leap in holiday
shopping among Vietnamese people,” Nguyen Hoang Minh, deputy director of the
Ho Chi Minh City branch of the State Bank of Vietnam (SBV) asserted.
Minh
noted that, “The majority of overseas remittances transferred to
He
also added that, “Overseas remittances sent to
Specifically,
according to the latest statistics provided by the World Bank, the total
estimated remittances sent from foreign countries in 2017 climbed to roughly
$13.8 billion, up 16 per cent against 2016, signifying the most rapid growth
in the foreign remittance market over the past five years.
Huynh
Trung Minh, a Vietnamese financial specialist, previously highlighted that
the foreseeable FED hikes would pose a negligible impact on overseas
remittances inflows to
Particularly,
the upsurge in overseas remittances could assure a sufficient supply of USD,
which in turn could meet individuals and businesses’ demand for foreign
currencies.
UK investors eye aviation projects in Vietnam
A
number of investors from the
At
last week's meeting with Deputy Minister of Transport Le Dinh Tho, British
Ambassador to Vietnam Giles Lever said that the
"
In
addition, they are also keen on urban railway projects.
Tho,
in response, said that the Ministry of Transport welcomed
In
addition to
At
present, MoT is selecting consultants for the feasibility study, which is
expected to be carried out in 2018-2019 to be then submitted to the National
Assembly for approval.
When
the feasibility study is approved, investment models, including state
investment and PPP, for sub-projects will be decided. Investors will be then
selected based on certain criteria through international bidding.
MoT
aims to kick-off the project construction in 2019 and complete it in 2022 so
that the project can be put into operation in early 2023. The 5,000-hectare
project will be developed in three phases, with the first costing $5.45
billion and finished in 2025 at the latest. This phase will have a capacity
of 25 million passengers and 1.32 million tonnes of cargo a year.
The
airport will be able to handle 100 million passengers and five million tonnes
of cargo annually after the third phase is completed.
SeaBank acquires Post and Telecommunication Finance Co., Ltd.
Despite
being in the red, Post and Telecommunication Finance Co., Ltd. (PTF) has just
been successfully auctioned at the initial price of VND500 billion ($220
million).
Vietnam
Posts and Telecommunications Group (VNPT) is preparing to submit a statement
to the State Bank of
This
was revealed by Tran Manh Hung, chairman of VNPT, at the meeting of MIC on
February 5. “VNPT has just held a successful auction of PTF with the
participation of two banks,” he said. The successful selling price was higher
than the initial price set by VNPT.
Earlier,
according to the announcement of VNPT, the auction of PTF was to take place
on February 1, 2018 at the initial price of VND500 billion ($220 million),
which is the charter capital of the company stated in the business
certificate granted in 1998.
In
additional to losing almost all of its owners' capital, by the middle of 2017
PTF has accumulated debts of VND347 billion ($15.3 million), including VNPT's
debts.
The
regulations of the auction noted that the investor winning the auction must
inherit all the assets, debts, and liabilities of the company at the time of
handover. Furthermore, investors must have a valid payment guarantee from a
domestic bank to commit payment to VNPT.
Related
to VNPT’s divestment of other companies, the chairman said the group has
organised auctions in batches of six companies. Four of these were not
successful.
Recently,
VNPT's divestment of its stake in Maritime Bank has not been successful as no
investors registered to buy. The group holds over 71 million shares (equaling
6.09 per cent of the charter capital), which were offered at VND851 billion
($37.5 million).
Besides,
VNPT continues to divest other companies, including:
Cadico
Central
Telecommunication Development JSC
Dalat
Telecommunication Construction and Trading Services Company
Dong
Thap Telecommunication Construction Investment Company
Bac
Lieu Telecommunication Construction Investment Company
Tet shopping goes online in Vietnam
With
only a few days off before Tet to make preparations for the country’s biggest
holiday of the year, busy office workers in
Tet,
or Lunar New Year, falls on February 16 this year, but preparations for the
public holiday typically start at least a week earlier.
Similar
to Christmas in some Western countries, Tet is a peak selling season for
retailers in countries that observe the Lunar New Year, including
Among
the most popular items during this shopping season are flowers, clothes, and
most importantly food to get one through the week-long public holiday, during
which most stores and markets in the country are closed.
This
year, online stores have taken the initiative to offer homemade, ready-to-eat
food that can be delivered to customers’ doorsteps, sparing them the need to
busy themselves preparing food for the long break.
Traditional
dishes that are popular on Vietnamese tables during Tet such as boiled
chicken, sticky rice cakes and pickled vegetables are best-sellers on online
kitchens advertising themselves to be selling only homemade, toxin-free food.
Thuong,
owner of an online store offering specialties from northern
“But
then some of my customers began to ask me for cooking recipes and whether I
could help process the food, so I decided that I would begin to sell cooked
food this year as well,” Thuong said.
Nguyen,
a ‘clean’ fruits and vegetables online vendor in
Meanwhile,
online store owners said they had started to avoid selling their products via
supermarkets in recent years due to the cumbersome paperwork involved and the
risk of producing more than the demand.
On
customers’ part, buying ‘homemade’ food gives them the confidence of
consuming healthy and clean products, amidst growing public fear of dirty
food in
“Customers
prefer buying from us even at a slightly higher price because they believe
that what we sell are homegrown, chemical-free and more nutritious,” Nguyen
said.
Ford launches new dealership in southern Vietnam
Ford
Reaching
Ford’s global standards, the new dealer in Hiep Tan commune, Hoa Thanh
district in Tay Ninh province brings the number of Ford’s authorised dealers
across
Oriented
towards the ‘One Stop Shopping’ model, the Tay Ninh Ford unit is ready to
provide customers with a full range of services for Ford cars, including
selling brand new car units, exchanging used cars, and supplying parts with
swift and flexible payment policies.
In
addition, customers will be able to access financial consultancy as well as
repair and maintenance services, among others.
Covering
3,200 square metres, Tay Ninh Ford sits on the trans-Asia route connecting
Valued
at US$2 million in total investment capital, the new dealer is adjacent to
Binh Duong, Binh Phuoc, and Long An province, Ho Chi Minh City, and two
provinces of the neighbouring Cambodia as well as Tay Ninh province’s Moc Bai
international border crossing, so it expects to serve a crowded customer
base.
The
800sq.m showroom at Tay Ninh Ford will lineup Ford
The
2,000sq.m-plus workshop space ensures receiving up to 60 cars for repair and
maintenance per day.
“Ford
After
20 years of presence in
Its
Ranger, Transit, and EcoSport lines continued to lead the pickup, commercial,
and small SUV segments for three consecutive years.
Ford’s
upscale SUV line, the Explorer reported record sales in its segment only one
year after debuting in
Earlier
this month, the new Ford EcoSport was launched, promising to bring customers
a compact, flexible, and smart SUV that matches perfectly to an urban
lifestyle.
US opens APHIS representative office in Vietnam
A
representative office of the Animal and Plant Health Inspection Service
(APHIS) under the US Department of Agriculture has opened at the US Embassy
in
The
launch of the office took place on February 5 and was attended by
Ambassador
Daniel Kritenbrink said that the opening of the office is the latest example
of the
As
agricultural trade between the US and Vietnam is growing, the APHIS office in
Hanoi will have the role of ensuring that new trade opportunities are
realised and existing trade between the two economies flows smoothly.
The
office will maintain technical working relationships with its Vietnamese
counterparts to resolve sanitary and phytosanitary issues whenever they
arise.
In
addition, the APHIS office’s regulatory mission allows for a flow of
agricultural trade that meets international animal and plant health
standards, which has helped
Viet Nam Rubber Group eyes profit rise
Viet
Nam Rubber Group targets an 8 per cent rise in revenues and 33 per cent rise
in pre-tax profits this year, Nguyen Tien Duc, its deputy general director,
said on Tuesday.
At
a meeting held to review last year’s performance and discuss this year’s
targets, VRG settled for a revenue and profit targets of VND23 trillion (US$1
billion) and VND5.5 trillion ($242 million).
Last
year it had achieved 120 per cent and 136 per cent of the corresponding
targets.
It
expects its core business, natural rubber, to be the main source of revenue,
accounting for VND15.5 trillion.
VRG
also generates income from its industrial zones, wood business and
manufacture of rubber products.
VRG
plans to list on UPCoM as early as April and on the HCM Stock Exchange in
June or July.
It
is also hoping to sell another 11.88 per cent of its equity to strategic
investors, some 50 million shares to its employees and 830,000 shares to its
trade union.
PG Bank allowed to raise charter capital
State
Bank of Viet Nam (SBV) has allowed Petrolimex Group Commercial Joint Stock
Bank (PG Bank) to raise its charter capital from VND3 trillion (US$132
million) to VND3.165 trillion.
The
capital can be increased by issuing shares to distribute dividends among
shareholders from unallocated after-tax profits.
The
plan to increase the charter capital was approved at the Annual General
Meeting through Resolution 02/2017/NQ-DHDCD-PGB, dated October 17, 2017.
The
issuance volume is 16.5 million shares corresponding to the exercise ratio of
5.5 per cent. Shareholders will not be allowed to transfer this right; the
shares will be freely transferable after being issued.
According
to PGBank, the increasing charter capital will be used to invest in
infrastructure and modernising banking technology (VND65 billion) and expanding
the scale of lending (VND100 billion).
SBV
requires PG Bank to implement the raising of charter capital in line with the
law, including compliance with shareholding limits of shareholders as
stipulated in the Law on Credit Institutions and guiding documents of SBV
after increasing charter capital.
After
completion of procedures for issuing shares to increase the charter capital,
PGBank will be responsible for submitting the application for amendment of
charter capital in the licence to SBV (through the Banking Inspection and
Supervision Agency).
PVOil launches cashless payment app for drivers
PetroVietnam
Oil Corporation (PVOil) on Tuesday launched PV Oil Easy, an application for
smartphones and tablets that allows users to buy petrol and manage their
purchases via a QR code.
Cao
Hoai Duong, general director of PVOil, said the app was a solution for its
member corporate customers to manage petrol purchases of drivers and for
drivers to buy petrol without paying in cash or with credit cards.
All
transactions will be recorded via the QR code.
Duong
said many firms were facing difficulties in managing the petrol purchases of
their drivers due to a huge volume of bills, and the app would make it easier
to manage.
On
Tuesday, Vietel Post signed up for PVOil, becoming one of the first customers
to use the app.
HCMC farm production shoots up
The
average production value per hectare of agricultural land in
Last
year the value increased by 10.9 per cent to VND450 million (US$19,806) per
hectare, among the highest in the country.
This
was a result of shifting the farming structure towards an urban-oriented
model and increasing the use of sophisticated technologies.
Thus,
in some places, unproductive rice and sugarcane growing areas became farms
growing bonsai, flowers and vegetables, bringing farmers higher profits.
More
than 389ha of lands were converted last year, up 385.5 per cent, and farmers
grow vegetables and fruits in them.
Vegetables
bring revenues of VND1-1.4 billion per hectare annually; orchids, around VND2
billion; dairy cows (at a scale of 20 head per household), VND800 million;
shrimp, VND2.7-3 billion per hectare; and ornamental fish, VND10-12 billion
per hectare.
These
farmers earn 30-40 per cent profits.
According
to the department, vegetables were grown on a total of 17,270ha, 12.4 per
cent up from 2016, with the output rising 14.3 per cent to more than 419,410
tonnes.
The
city also had around 2,300ha of land under flowers and ornamental trees, up 7
per cent.
There
were 142,653 cows, a year-on-year decrease of 6.6 per cent, and 343,300 pigs,
a decrease of 4.6 per cent, it said.
Aquaculture
and seafood output rose by 5.5 per cent.
The
city exported 18.2 million ornamental fishes for $20 million, a year-on-year
increase of 21.2 per cent, it said.
Agriculture
accounted for only 0.8 per cent of the city’s economy, but it was worth
VND19.6 trillion, comparable to one of the country’s larger agricultural
provinces.
Its
agro-forestry and fisheries sectors expanded at 6.3 per cent, 2.2 times the
national average.
This
year, the farm sector would strive to raise average production per hectare to
VND500 million and grow agro-forestry and fisheries by 6 per cent, the
department said.
To
achieve its targets, it said the city would continue its agricultural
restructuring, especially enhancing the use of high-tech methods including
bio-technology to provide safe and quality products.
Ha Noi’s export value up 24% in January
Capital
city Ha Noi gained a year-on-year growth of 24 per cent in export value to
reach US$1.05 billion in January.
The
export value from the state-owned sector was $139 million, up 9.8 per cent;
it was $352 million from the private sector, up 16.6 per cent; and $556
million from foreign direct investment, up 33.6 per cent.
In
January, all key export items achieved strong growth in export value,
including agricultural products (up 3.6 per cent against the same period last
year); computer, components and peripherals (up 68.1 per cent); transport
means and components (up 12.7 per cent); machinery and components (up 21.8
per cent); and glass and glass products (up 25 per cent).
Ha
Noi’s export value has increased sharply in recent years because businesses
in the city have taken advantage of the recovery of major economies of the
world, such as the United States, Japan, the European Union and China,
reported kinhtedothi.com.vn.
Meanwhile,
municipal authorities have also come up with solutions to support enterprises
in promoting exports, including programmes connecting banks with enterprises,
land and tax policies and policies encouraging enterprises to apply advanced
technology for production, processing and consumption.
Nguyen
Gia Phuong, director of Ha Noi Investment, Trade and Tourism Promotion
Centre, said to support enterprises in expanding export markets and promoting
brand products, the centre had continuously organised delegations of
enterprises to join large international fairs and paid special attention to
markets that signed free trade agreements with
The
capital city has welcomed foreign enterprise delegations to Ha Noi to
facilitate trade cooperation with local businesses to support trade villages,
agricultural production enterprises and textiles and garment companies in
seeking customers.
However,
it will not be easy for Ha Noi to reach the growth target of 7.5-8 per cent
in export turnover set by the People’s Committee of Ha Noi for this year
against last year because importing countries have trade barriers and quality
standards for imported goods from foreign countries, including
Nguyen
Thanh Hai, deputy director of Ha Noi Department of Industry and Trade, said
the department and the People’s Committee would continue supporting
enterprises in taking loans and entering export markets. Specifically, they
would strengthen trade promotion activities in
"Ha
Noi welcomes delegations of foreign import enterprises to help local
businesses diversify the export markets," he said.
The
department would also continue administrative reforms, reduce business and
investment conditions and improve the quality of online public services.
In
the process of restructuring the export sector, the department would focus on
improving the competitiveness of products, efficiency of investment and
enterprises’ ability to join the global value chain.
Experts
said to increase the export value, enterprises should renew models of
products according to the demand on markets and increase competitiveness by
cutting production costs. They also need to improve product quality and
develop the brand as well as promote cooperation with local businesses. In
addition to this, they should take advantages in export opportunities from
free trade agreements that
Quang Tri calls for investment in renewable energy
The
central
The
provincial People’s Committee has approved four wind power projects with a
combined capacity of 120 MW.
By
2030, the province hopes to have five more wind power projects with a
combined capacity of 150 MW.
Quang
Tri has been calling for investment in 17 solar power projects with a
combined capacity of over 930 MW on 1,400 hectares.
Besides,
the province priorities other fields such as thermal power, wood product
processing and export, eco and sea-based tourism, and hi-tech agriculture.
In
2018, focus will also be put on restructuring enterprises. It has over 3,000
registered firms. However, only over 2,600 are operational, third fourths of
which are micro- and small-sized construction companies. They have faced
financial difficulties due to tightened public investment.
According
to Nguyen Van Hung, Secretary of the provincial Party Committee, the province
will issue policies to support local firms, particularly micro- and small-sized
enterprises in 2018.
It
will focus on accelerating administrative reform, improving investment
climate, developing socio-political organisations in enterprises, promoting
local culture and private sector.
According
to the provincial Department of Planning and Investment, 330 domestic and
foreign investment projects had been granted as of early February 2018, worth
over 69.5 trillion VND (3 billion USD).
They
include 14 foreign direct investment projects, worth over one trillion VND
(44 million USD).
Local
firms contribute 47.6 percent of Gross Regional Domestic Product (GRDP) and
create jobs for 35,500 local labourers.
EVN’s power generation rises 12 percent in January
The
Electricity of Vietnam (EVN) group said it generated an estimated 14.6
billion kWh of electricity in January, a year-on-year increase of 12.06
percent.
Produced
and imported electricity in the period reached 17.1 billion kWh.
Transmission
on the North-Central and Central-South 500kV lines was 1,900MW and 3,500MW,
respectively, bringing about 50.5 million kWh to the South per day, meeting
19.3 percent of the demand in the region.
EVN
coordinated with the General Department of Irrigation under the Ministry of
Agriculture and Rural Development to discharge water through generating
electricity from Hoa Binh, Thac Ba and Tuyen Quang hydropower plants to serve
agriculture production in the winter-spring crop 2017-2018 in the northern
midland and delta areas.
The
group said the average power consumption in February is estimated at
477million kWh/day, and the maximum load capacity will be close to
28,110MW.
EVN
plans to run hydropower and thermal power plants to their full capacity to
ensure water supply for agricultural production in the winter-spring crop
2017-2018 in the North.
It
will work to ensure safe operation of the transmission system, especially the
North-South 500kV transmission line.
Favourable conditions required to increase new firms
Favourable
conditions are needed to increase the number of new businesses and startups,
thereby realising the target of 1 million enterprises by 2020, an official
has said.
The
State should continue speeding up administrative reform, improving business
climate and legal framework, Nguyen Bich Lam, General Director of the General
Statistics Office (GSO) said at a press conference in
Due
attention must be paid to restructuring the economy, equitising state-owned
enterprises, luring more foreign direct investment, and facilitating the
development of tge private sector, while enforcing the Law on Support for
Small- and Medium-sized Enterprises, Lam said.
Inspection
should be strengthened to ensure firms will make reports and provide timely
and accurate information for competent agencies for better management, he
added.
Pham
Dinh Thuy, Director of the GSO’s Industrial Statistics Department, underlined
the need to increase inspections and supervision to ensure businesses operate
effectively and legally.
Dialogues
between State management agencies at all levels and enterprises should be
conducted regularly, thus bettering the legal framework and policies to
support enterprises, Thuy said.
According
to the department, by December 31, 2017,
In
2017, the number of new firms set a record high of 126,859, with a combined
registered capital of nearly 1,295 trillion VND (57 billion USD), year on
year rises of 15 percent and 45 percent.
Binh Duong: industrial production index surges by 24.1 percent
The
southern province of Binh Duong’s index of industrial production (IIP) rose
24.1 percent year-on-year in January, said Nguyen Van Danh, Director of the
provincial Department of Industry and Trade.
Danh
attributed the surge to a favourable investment climate and improved
competitiveness and administrative reform, which have helped lure investors.
According
to the agency, the highest increases were seen in the mining industry at 39.4
percent; processing, 24.3 percent; clothing, 22.3 percent; medicine,
pharmaceutical chemistry and herbal materials, 22.2 percent; rubber and
plastic products, 41.4 percent; metal production, 27.2 percent; and
electronic products, computers and optical devices, 13.1 percent.
Nguyen
Thanh Lam, Director of the Nha Thy Company in Thu Dau Mot district said the
company’s employees worked extra shifts to make time up for the upcoming
Lunar New Year (Tet) holiday, ensuring its production schedule in the first
quarter, while increasing their incomes.
The
employment index in the province also grew by 6.8 percent in January, according
to the department.-
The
Embassy of Indonesia in
The
event was attended by representatives from Indonesian diplomatic agencies in
Addressing
the opening ceremony, Indonesian Ambassador to Vietnam Ibnu Hadi said the
event aims to enhance ties between
According
to the Ambassador,
The
two ASEAN members produce 80 percent of the world’s coffee output, Hadi said.
The
capital city of
The
export value from the state-owned sector was 139 million USD, up 9.8 percent;
it was 352 million USD from the private sector, up 16.6 percent; and 556
million USD from foreign direct investment, up 33.6 percent.
In
January, all key export items achieved strong growth in export value,
including agricultural products (up 3.6 percent against the same period last
year); computer, components and peripherals (up 68.1 percent); transport
means and components (up 12.7 percent); machinery and components (up 21.8
percent); and glass and glass products (up 25 percent).
Meanwhile,
municipal authorities have also come up with solutions to support enterprises
in promoting exports, including programmes connecting banks with enterprises,
land and tax policies and policies encouraging enterprises to apply advanced
technology for production, processing and consumption.
Nguyen
Gia Phuong, Director of the Hanoi Investment, Trade and Tourism Promotion
Centre, said to support enterprises in expanding export markets and promoting
brand products, the centre had continuously organised delegations of
enterprises to join large international fairs and paid special attention to
markets that signed free trade agreements with
The
capital city has welcomed foreign enterprise delegations to
However,
it will not be easy for
Nguyen
Thanh Hai, Deputy Director of the Hanoi Department of Industry and Trade,
said the department and the People’s Committee would continue supporting
enterprises in taking loans and entering export markets. Specifically, they
would strengthen trade promotion activities in
"
The
department would also continue administrative reforms, reduce business and
investment conditions and improve the quality of online public services.
In
the process of restructuring the export sector, the department would focus on
improving the competitiveness of products, efficiency of investment and
enterprises’ ability to join the global value chain.
Experts
said to increase the export value, enterprises should renew models of
products according to the demand on markets and increase competitiveness by
cutting production costs. They also need to improve product quality and
develop the brand as well as promote cooperation with local businesses. In
addition to this, they should take advantages in export opportunities from
free trade agreements that
VNN
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Thứ Sáu, 9 tháng 2, 2018
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