|
BUSINESS IN
BRIEF 5/4
Australian
and Vietnamese experts gathered at a workshop in the Central Highland
Addressing
the event, Chairman of the provincial People’s Committee Vo Ngoc Thanh said
the event is expected to help connect Australian investors and businesses in
the province to join the global value chain in the framework of the Comprehensive
and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
He
also called on foreign and domestic investors to explore cooperation and
investment opportunities in Gia Lai to fully tap its potential.
Thanh
introduced the province’s policies and mechanisms designed to assist
investors and businesses, voicing his hope that investors will bring new
vitality to the province, stimulate local comprehensive development, thus
realising its goal on sustainable poverty reduction.
Several
research projects on hi-tech agricultural production and potential investment
options were made public at the workshop.
Nguyen
Huu Minh from
Gia
Lai boasts favourable natural conditions to grow long-term industrial plants,
with more than 100,000 hectares of rubber, 94,000 hectares of coffee plants,
over 16,000 hectares of pepper, 17,800 hectares of cashew, and 42,000
hectares of sugar canes.
The
province plans to focus on promoting hi-tech agriculture, agricultural
product processing, renewable energy, tourism, and supporting enterprises
from now to 2020.
Gia
Lai also has huge wind and solar power potential, with a capacity estimated
at 1,800 MW and 7,500 MW, respectively.
In
the framework of the workshop, the
Investors frown at unrealistic listing price of Saigon One
Tower
After
ten years in the making, the crowning jewel of Saigon's vista,
To date, myriad market analysts forecasted that a notable number of investors would bid lower than $268.22 million in order to protest the unrealistic listing rate, considering ten years of inactivity due to inefficient investment and postponed development. Within four days, the estimated starting price of the project's total assets shrank from VND7 trillion ($307.3 million) to $268.22 million, which is still frowned upon by investors. Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (Horea), asserted that the listing price was considered "reasonable," yet there are high odds that the public auction will not attract the right investor despite the enormous interest expressed. Specifically, the total assets which would be included in the public auction comprise of the ownership of a total 14,954 square metres of the commercial area and the intangible assets which is the asset management of the entire construction of the garage, shopping mall, offices for lease, and supporting construction. Previously, in 2017, On August 21 last year VAMC officially sized the asset of Sai Gon One Tower Company in order to collect non-performing loans worth more than $300 million. The construction of Additionally, the project’s total capital mounted up to VND5 trillion ($219.5 million) with the initial target of becoming the third highest tower in Potential business opportunities for Vietnamese and Korean enterprises Vietnam Expo 2018, themed “Enhancing regional and global economic links,” continues to be the largest trade promotion event of the Ministry of Industry and Trade (MoIT). Over the years, Vietnam Expo has done a good job of promoting trade among neighbouring countries in the region and has been constantly expanding to reach an ever-increasing line-up of attending countries, increasing the number of enterprises which have well-known brands, and demonstrating new technologies, as well as connecting enterprises. The 28th Vietnam International Trade Fair (Vietnam Expo 2018) themed “Vietnam Expo—Enhancing regional and global economic links,” will take place on April 11-14 at Hanoi International Exhibition Centre (ICE). There will be 500 booths and 450 enterprises from 20 provinces and cities from across Over the past 25 years, Vietnamese-Korean trade has grown from just $500 million in 1992 to approximately $60 billion at the end of last year. The figure is expected to reach $70 billion by this year and $100 billion by 2020. Vietnam Expo 2018 will mark the 20th year that Korean investment in The Korean pavilion at Vietnam Expo 2018 will showcase some of the country's key strengths, including cosmetics, electronics, mothers and baby products, supplements, and food. These products have lured in many consumers due to their good quality, safety, and environmental friendliness. At the Vietnam Expo, exporters and retailers can directly meet and discuss as well as have a good look at new products while approaching the consumers. The Vietnam-Korea Design Centre pavilion will be hosted by Vietnam Trade Promotion Department (VIETRADE), MoIT, the Korean Department of Energy. All of the booths this year will be designed to be more innovative and impressive in order to show off the products of the two countries' seven best enterprises. The Vietnam-Korea Free Trade Agreement (VKFTA) will provide great tariff reductions on agricultural and aquatic products and are a great motivation to increase cross-border partnerships and trade. Vietnam Expo 2018 will be a great opportunity to boost trade between Korean and Vietnamese enterprises with a "new mindset" on quality and design. “ In addition, the tariff reductions on agricultural and aquatic imports provided by VKFTA will certainly increase the consumption of Vietnamese products in The annual Vietnam Expo has been mentioned by the Korean President at his latest visit to Over the past 27 years, Vietnam Expo has become a prestigious event for Vietnamese and Korean enterprises, especially those seeking investment opportunities. The Trade Fair will be open from 9:00-16:00, April 11-14, 2018 at Hanoi International Exhibition Centre (I.C.E), at Foreign investors flock to Lien Chieu deep seaport Although the construction of Lien Chieu port in Danang city has just been appraised, domestic and foreign investors are already interested in the project. Boskalis Inter A.V is the newest foreign investor that expressed interest in the project. Wanter Jacobs, regional business manager of Boskalis, said in the document sent to the Ministry of Transport that the investor wants to join component A–general infrastructure. Boskalis will collaborate with T&T Group to deploy this project, particularly in conducting the feasibility study, design, and build general infrastructure system in component A. Boskalis was founded in The chances of Boskalis-T&T venture joining the Lien Chieu project depend on the appraisal result of the pre-feasibility study of the MoT, which expects to submit it to the prime minister in the early second quarter of 2018. With the total investment of around VND7.378 trillion ($325 million), the Earlier, in January 2018, the prime minister has assigned the Ministry of Transport to appraise the pre-feasibility study of According to the city’s proposal, Lien Chieu Port would combine five functional areas, including a 50,000DWT (deadweight tonnage) harbour, another harbour which could handle 80,000-100,000DWT container ships with a loading capacity of 5,000-8,000 twenty-foot equivalent unit (TEUs), a liquid cargo harbour handling 10,000DWT ships, and an inland waterway harbour for 1,000-5,000DWT ships, as well as a logistics services area and other infrastructure. Hoa Phat Group accelerates $3 billion ill-fated Dung Quat steel complex Hoa Phat Group is accelerating the construction of the two phases of $3 billion Hoa Phat Dung Quat steel complex in the central Licensed in September 2006, the project was initiated by Taiwanese steel giant Tycoons with a total investment of more than $556 million. The investor committed to completing the construction within 36 months. E-United Group joined later by acquiring a 90 per cent stake. The two Taiwanese enterprises raised the registered investment amount to $3 billion in 2008 and then $4.5 billion in 2010, while simultaneously increasing the factory’s manufacturing capacity to seven million tonnes per year, five million tonnes higher than the initial design. In December 2015, the Dung Quat Economic Zone Management Authority carried out an inspection of the project grounds, while simultaneously requesting the investors to voluntarily liquidate its assets. In March 2016, the two investors committed to restarting the project with the total capital of $2.2 billion and an output of five million tonnes per year. The investors also committed to completing the construction within 42 months. However, after numerous further delays, the local authorities have grown distrustful of the investors as well as the very feasibility of the project. Since it received the investment certificate to revive this ill-fated project, Hoa Phat Group has completed the negotiations with foreign investors to purchase equipment and has installed the machinery and manufacturing line for the long-rolling steel facility. According to the plan, the first manufacturing line with the annual capacity of 600,000 tonnes will come into operation in May this year, and the remaining lines will start operation two months later. The construction of the hot-rolled flat steel facility (the second phase of the complex) was kicked off last year after Hoa Phat completed the sale of shares for the existing shareholders. The phase is expected to generate two million tonnes of hot-rolled flat steel products per year, making Hoa Phat the second hot-rolled flat steel maker in the country, following According to Tran Tuan Duong, general director of Hoa Phat Group, 60 per cent of construction steel manufactured by domestic plants is distributed in the northern market, while only 10 per cent reaches the central and southern markets. Thus, once the Hoa Phat Dung Quat steel complex comes into operation, one fourth of its products will be exported and the remaining part will be distributed at the central and southern markets. Duong added that as demand for high-quality steel to manufacture screws and bolts is increasing, Hoa Phat Group plans to distribute two third of its high-quality steel in the domestic market. According to Hoa Phat, despite the fact that its existing steel manufacturing plants exceed their designed capacity, its products have yet to satisfy the market demand. Hoa Phat is confident that with the increasing domestic demand for steel, it will not be difficult to sell all the products manufactured by the Hoa Phat Dung Quat steel complex. Speaking at the corporation’s annual general shareholders’ meeting on March 22, 2018, Duong stated that the upcoming Hoa Phat Dung Quat steel complex is not inferior to “The investment rate of Dung Quat project is only one third of Notably, it takes New barrier to weigh on car imports After the Ministry of Transport’s approval of the vehicle type approval (VTA) certification issued by the Thai and Indonesian governments, a new barrier is being formed to tighten the flow of car imports from ASEAN countries. After overcoming the barriers of Decree 116 on the VTA certificate, in early March, the first automobile batches enjoying tariff exemption have arrived at the seaports and opened a strong flow of completely built up (CBU) cars imported from ASEAN countries. According to the General Statistics Office (GSO), an estimated 5,000 CBU cars were imported to CBU cars imported from However, the imported car market is facing a new worry. The Government Office has just released a document containing directions from Deputy Prime Minister Trinh Dinh Dung to the Ministry of Science and Technology (MoST) and the Ministry of Transport (MoT). The DPM requested the two ministries to coordinate with other ministries and agencies in reviewing, building, and perfecting Vietnamese Standards for CBU cars in order to guarantee state management on the quality of imported cars and comply with international integration commitments. Vietnamese Standards is known as a new technical barrier to tighten CBU cars in the coming time. As Circular No.20/TT-BCT (the document previously regulating car imports) has expired and Decree 116 has been one-upped by the higher standard requirements of the new Vietnamese Standards, car imports are expected to be tightened to facilitate domestic assembly and manufacturing. On the other hand, experts said the global automobile industry has been developing for a hundred years now, and has achieved technological and technical heights that are far superior to Vietnamese Standards. Therefore, the new regulations and standards may not stop car imports to Representatives of some car businesses said that the new barrier will increase the number of procedures and certificates required to import CBU cars. Meanwhile, the automobile market has not yet exploded with the amphibious landing of automobiles from ASEAN countries. Phuc Son Cement under investigation Phuc Son Cement Corporation, which is one of the largest foreign-invested cement producing companies in According to the inspection report that the State Audit of Vietnam (SAV) has submitted to the prime minister and the Chairwoman of the National Assembly of Vietnam, Phuc Son Cement’s exploited mineral volume exceeded the volume it initially licensed in 1996. Besides, local authorities determined that Phuc Son Cement does not have the professional competence to exploit mineral from mines and it currently has to hire organisations and individuals to manage mining exploitation. However, Phuc Son Cement has used out-dated technology to exploit resources, causing serious environmental pollution. In addition, during the auditing process, the authorities found Phuc Son Cement less than cooperative. Notably, the firm refused to supply the necessary documents and was even found to have revised a number of documents and dossiers. Being considered one of the largest foreign-invested cement production plants in
Furthermore,
SAV added that the Haiphong Department of Natural Resources and Environment
made an oversight in the management of mineral exploitation and tax payments
of Phuc Son Cement.
Notably, the department has yet to scrutinise the exploited mineral resources as well as the firm’s business report. In addition, in 2009, the Thuy Nguyen District People’s Committee in the northern port city of According to the State Audit, the firm shows signs of violation and estimated that the firm will have to pay VND266.6 billion ($11.69 million) in natural resources tax and environmental protection fees, among others. However, Phuc Son Cement is a foreign-invested firm, thus, in order to ensure transparency, the State Audit will send the inspection results to In January 1996, Taiwan Lucky Cement Corporation was granted the investment certificate to develop the Phuc Son Cement plant with a total investment capital sum of $265 million. The plant started commercial operations in May 2005 with a designed capacity of 1.8 million tonnes per year. The entire production line of the project was contracted, designed, inspected, and tested in accordance with Chinese standards, mainly using Chinese equipment. Being considered one of the largest foreign-invested cement production plants in Besides, in August 2014, there was a rock landslide at the company’s mine, killing five workers. In addition, residents living in the neighboring area of the plant complain a lot about the environmental pollution caused by the rock exploitation activities of the firm. In September 2014, Lucky Cement Corporation expressed intentions to develop a 51-hectare site on Hong Kong FTA set to boost FDI in A greater wave of investment from Hong Kong is expected to flow into hong kong fta set to boost fdi in vietnam Edward Yau, secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region Government, told VIR that among ASEAN countries, Vietnam is expected to gain the most from the ASEAN-Hong Kong Free Trade Agreement (AHKFTA), as the country is Hong Kong’s fourth-largest trading partner within ASEAN. Yau led a high-level Hong Kong business delegation which came to According to Yau, there are many attractive infrastructure developments in “Hong Kong can be a professional service provider as well as a financial trading hub for The businesses and startups that use Margaret Fong, executive director of the Hong Kong Trade Development Council, said that Hong Kong-based companies have been investing in A new sector for Hong Kong investment will be the financial technology (fintech) industry, which is attracting new companies to The AHKFTA is expected to boost and facilitate trade and investment between ASEAN was already Indeed, Amata Group receives investment certificate for industrial park Amata Group’s dream about developing the VND3.5-trillion ($153.56 million) On March 30, the Quang Ninh People’s Committee granted the investment certificate to Amata Group to build The project marks the first IP invested by Thai investors and the fourth by foreign investors in the province since 2014. Covering an area of 714 hectares, the construction will be divided into five phases with the total investment capital of VND3.5 trillion ($153.56 million). According to plan, the first phase of the project will welcome the first investors by the end of 2019. The purpose of Amata is to lure in sub-investors operating in the manufacturing and processing sector, hi-tech, biotechnology, and software. In reality, Amata has been planning to develop the project in 2013 after the group, in collaboration with the Quang Ninh People’s Committee and Tuan Chau Group, signed a memorandum of understanding to develop a hi-tech industrial park and township complex located in Phuong Dong ward of the province. According to the initial plan, the construction of the project was to be kicked off in December 2013 and finished by the end of 2014. However, the construction was delayed because the investor proposed to change the site from Phuong Dong ward to Song Khoai commune. After the change was approved by the authorities, it took a long time for the authorities and the investor to complete the procedures to replace Phuong Nam IP by the Song Khoai project in Along with the IP, Amata plans to build The project would focus on hi-tech IP development, automation, information technology, and especially electronics. The investor would also call for investment in research and development centres, logistics, exhibition centres, and laboratories in Halong. Covering an area of 714 hectares in the first phase, the project is expected to generate 300,000 jobs for Vietnamese people as well as bring in approximately $5 billion in annual revenue. The group submitted the documents of the Amata City Halong project to the government one year ago for approval, however, it has yet to receive feedback. Amata entered Accordingly, Amata City Bien Hoa is home to 164 investors from 21 countries and territories with the total registered investment of $2.66 billion and generates 49,000 jobs. Meanwhile, the Amata City Long Thanh industrial and urban complex covers a total of 1,270 hectares, 33 per cent of which is taken up by a hi-tech IP and 67 per cent by an urban community area. Korean GS25 heating up Vietnam's franchising scene Over the last 15 months, myriad foreign businesses, including South Korea-based GS25 and Japanese-owned 7-Eleven, came to the Vietnamese convenience retail market through franchising deals. In 2017, South Korea-owned convenience franchise chain GS25, under the management of GS Retail, officially entered Yun Ju Young, managing director of GS25 Vietnam, unveiled that the convenience chain planned to launch the first four stores in Ho Chi Minh City through franchising, followed by a total of 50 stores in major cities, such as Hanoi, Haiphong, Danang, and Can Tho by the end of 2018. Yun also stated that the capital city of Previously, GS25's convenience rival, Japanese-owned 7-Eleven, an American international chain of convenience stores, entered Vietnam in 2015 through a franchising deal with a joint venture named Seven System Vietnam. Nonetheless, the Texas-headquartered brand did not launch any convenience stores in GS25 was one of the 31 foreign companies penetrating the Vietnamese marketplace through franchising in 2017 alone. These multinationals mainly came from the Prominent brands among the multitude of franchisers currently present in Vietnam include the Costa coffee chain of UK-owned Costa International Limited and Dutch apparel retail ITX MERKEN B.V with its cluster of clothing, footwear, and accessories brands including Pull & Bear, Stradivarius, and Massimo Dutti. Previously, American Circle K, launched its first convenience store in In addition, Singapore-invested franchising Shop n Go, set foot in Ho Chi Minh City in 2005 as the first foreign convenience brand to enter the country's 24/7 retail market. To date, the Singaporean brand distributes products ranging from processed food and F&B items to makeup and skincare products.
Total money
supply hits four-year record high
The
money supply in the economy, as of March 20, increased 3.23 per cent against
the end of 2017, the highest in four years, according to the General
Statistics Office (GSO).
The
rate of increase in the same period of 2017, 2016 and 2015 was 2.88 per cent,
3.08 per cent and 2.09 per cent, respectively.
GSO
also reported that the credit growth of commercial banks in this period was
2.23 per cent against December last year.
In
the same period, the rising rate of mobilised capital was almost equal to
that of the credit growth, posting an expansion of 2.43 per cent, the GSO
reported.
In
the first quarter of the year, interest rates averaged 0.6 per cent to 1 per
cent per year for non-term and one-month deposits, and 4.3 per cent to 5.5
per cent for one- to six-month deposits. The rate for six- to 12-month
deposits was set at 5.3 per cent to 6.5 per cent, and 6.5 per cent to 7.3 per
cent for deposits above 12 months.
Commercial
banks also listed the short-term lending rates at 6 per cent to 6.5 per cent
per year for prioritised industries and 6.8 per cent to 9 per cent for normal
loans.
The
rate applied for medium- and long-term loans was 9.3 per cent to 11 per cent.
PGBank shareholders to discuss MA decision
Petrolimex
Group Commercial Joint Stock Bank (PGBank) will hold a shareholders’ meeting
on April 21 to discuss its restructuring plan.
The
bank will finalise the list of shareholders for the upcoming meeting on April
6.
The
meeting is being held amidst market speculations regarding the merger of
PGBank with either of the two other financial institutions – MBBank and
Vietinbank.
It
was reported in late 2017 that MBBank was planning an acquisition of PGBank.
At
MBBank’s annual shareholders’ meeting on March 29, general director Lưu Trung
Thái said the bank had discussed the merger plan with PGBank but the two
sides had not reached any agreements.
PGBank
was approved by its shareholders to merge with Vietinbank in April 2015. The
two sides signed a post-merger profile and comprehensive partnership
agreement the following month.
Vietinbank
announced the share swap ratio of 1:0.9 for its acquisition of PGBank. It
meant every PGBank share would be valued at 90 per cent of one Vietinbank
share, which was considered profitable to PGBank shareholders.
However,
this M&A deal has not been finalised as State Bank of Việt Nam later
asked the two banks to review their deal, re-evaluate PGBank shares and
re-calculate the share swap ratio between the two sides.
TPBank to introduce 555mn shares on April 19
Tiên
Phong Commercial Joint Stock Bank (TPBank) has announced that 555 million of
its shares will debut on HCM Stock Exchange (HoSE) on April 19 with code TPB.
The
quantity of listed shares is equal to 95 per cent of the total shares issued
by TPBank so far. The starting price is VNĐ32,000 (US$1.42) per share.
On
March 21, TPBank had finalised the list of shareholders before the financial
institution registered for listing on HoSE.
The
Vietnam Securities Depository had stopped receiving trading orders for TPBank
shares on March 20.
On
Tuesday, TPBank will also finalise the list of shareholders for the bank’s
annual shareholders’ meeting 2018.
Earlier
in February, the bank’s shareholders passed the limitation of foreign
ownership in TPBank, which is now 24.9 per cent.
This
includes a 5 per cent stake held by the International Finance Corporation
(IFC), a member of World Bank.
IFC
bought this stake in August 2016 at a preferential price, and these shares
have remained unavailable for trading and listing.
TPBank
posted VNĐ275.8 billion ($12.2 million) in pre-tax profit in the first two
months of 2018, a yearly increase of 90 per cent.
The
bank recorded VNĐ1.2 trillion in pre-tax profit in 2017, and its total assets
reached more than VNĐ120 trillion.
Sony brings new camera to
Sony
The
company said in a release that its innovation within the image sensor space
is at the forefront of the α7 III, which features a brand new 24.2MP
back-illuminated Exmor R CMOS image sensor with increased sensitivity,
outstanding resolution and 15 stops of dynamic range at low sensitivities.
By
combining this sensor with features like extreme AF coverage of 93 per cent,
fast shooting at up to 10 fps with either mechanical shutter or silent
shooting and diverse 4K video capabilities, it said has created a new tool
that gives all types of creators – from enthusiast to professional – the
ability to capture content in new and different ways.
The
new camera has 425 contrast AF points that work with a 693-point focal-plane
phase-detection AF system inherited from the popular α9 model.
The
new camera is expected to be marketed in
Nearly 500
mln USD worth of G-bonds mobilised in March
The Hanoi Stock Exchange held 11 auctions of Government bonds (G-bonds) in March, mobilising over 11 trillion VND (482.9 million USD) for the State budget – up 10 percent from the previous month. Successful bidders of five-year bonds would enjoy an interest rate of between 2.93 – 2.97 percent per year, seven-year bonds 3.4 percent, and 15-year bonds 4.4 percent. The winning interest rate for 20-year bonds is 5.1 percent while those for 30-year bonds range from 5.39 to 5.42 percent per year. Compared to February, the coupon rates of five- and 15-year bonds respectively declined 0.08 and 0.12 percent per annum. In the G-bond secondary market, the total volume of G-bonds sold by the outright method exceeded 1 billion, worth more than 122 trillion VND (5.35 billion USD), up 65 percent in value from February. Meanwhile, trading volume through repurchase agreements (repos) reached over 1.42 billion bonds worth over 148.8 trillion VND (6.53 billion USD), up 77.5 percent in value month on month. Foreign investors also made outright purchases of more than 7.7 trillion VND (338 million USD) and outright sales of over 7.2 trillion VND (316 million USD). They made repo sales of over 346 billion VND (15.19 million USD) but did not make repo buys in March. German company invests in two solar power projects in Hau Giang BS Heidelberg Solar GmbH of Germany said it plans to invest in two solar power projects in A memorandum of understanding on the investment was signed by the company and the Hau Giang People’s Committee on April 2. Covering 50ha in Hoa An commune, Phung Hiep district, Hau Giang I will have a capacity of over 40MWP and cost 50 million USD. Meanwhile, Hau Giang II is expected to be based at the Nhon Nghia A Industrial Cluster in Chau Thanh A district. The 200-ha plant has a designed capacity of more than 170 MWp, with a total investment of 200 million USD. Construction of the two plants is scheduled to begin in December 2018 and end in June 2019. Rodny Scherzer, a member of the Board of Directors of BS Heidelberg Solar GmbH, said Hau Giang has favourable natural conditions for solar power projects. The projects are important during this period, he said, pledging that the company will try to push the implementation of the projects. At the working session, Nguyen Van Tuan, Vice Chairman of the Hau Giang People’s Committee, applauded the company’s investment, saying the projects match the locality’s policies and solar power planning scheme. Hau Giang will create the best possible conditions for the company to deal with difficulties hindering the process.- Dong Nai lures over 374 million USD in FDI in Q1 The southern According to the local management board of industrial parks, of the total, there were 22 new projects, with combined registered capital exceeding 106 million USD. They included projects invested by August Sport Ltd at 15 million USD and by Great Kingdom Nhon Trach 2 Ltd at 10 million USD. The remaining 16 projects, which had already operated, saw over 268 million USD added to their existing capital. They included the Dutch-funded Bosch Gasoline Systems – HPC plant in the Long Thanh industrial park (over 71 million USD) and a project by the Singaporean-funded OPC pharmacy company in the Bien Hoa II industrial park (47.7 million USD). The foreign capital poured into Dong Nai in the first quarter met 37.4 percent of the 1-billion-USD target the locality set for 2018. [Dong Nai draws almost 156 million USD in FDI in Jan-Feb] The provincial Department of Planning and Investment said the new FDI projects are in line with Dong Nai’s policy on prioritising high-tech and environmentally friendly projects. To date, Dong Nai houses 1,307 valid FDI projects valued at 27.2 billion USD, invested by businesses from 45 countries and territories across the world, led by those from the Tien Giang enjoys over 24 percent rise in exports of Q1 The Mekong Delta According to Ngo Van Tuan, Director of the Tien Giang Department of Industry and Trade, exports from the FDI sector accounted for 60 percent of the total figure. An upturn was seen in export revenue of all major products of the province, leading by copper pipe with 49.2 percent to reach 137 million USD, followed by footwear at 38.5 percent (133 million USD), garment and textile at 23.8 percent (120.2 million USD). In the first three months, the province shipped abroad 31,300 tonnes of processed aquatic products, mostly fillets of tra fish for 77.9 million USD, a rise of 3.5 percent in volume and 20 percent in value. Meanwhile, the province sold over 58,500 tonnes of rice abroad for 28.9 million USD, an increase of about 8 percent in both volume and value, along with 1,620 tonnes of star apples for 3.2 million USD. Tuan noted that the largest import market of the province was the Le Van Nghia, Vice Chairman of the provincial People’s Committee said that right in the beginning of the year, the province has applied measures to increase exports by promoting markets in both traditional and potential ones. In 2018, Tien Giang targets 2.65 billion USD in export earnings, a rise of 5.4 percent year on year. Kien Giang sees export surge in Q1 The Mekong Delta Of the total, the export value of farm products accounted for 60 million USD and that from aquatic items was 38 million USD, up 59 percent and 18 percent, respectively. Other products brought home nearly 40 million USD, a seven-fold increase year on year. Director of the provincial Department of Industry and Trade Ngo Cong Tuoc said the province has boosted trade promotion to expand export markets for its key products such as rice and seafood, and footwear. Local exporters have also focused on traditional markets while exploring new and potential markets. Connection between enterprises and farmers in key production areas has also been strengthened to ensure material supply for for-export processing. In order to realise the export target of 520 million USD, the province will develop a large-scale and high-quality rice growing zone and expand high-tech shrimp farming in the Long Xuyen Quadrangle to ensure shrimp and rice supply for processing for export. The province also encourages local enterprises to modernise technology, improve production procedures and product quality, build brands and enhance competitiveness, particularly for aquatic products. Assistance will be offered to firms facing difficulties in capital and labour to boost production and exports of key products, including rice, aquatic products, footwear and wood. Trade promotion and marketing will be strengthened, in tandem with information and market forecast. Vietnam, Australia seek to create hi-tech agricultural value chain A workshop was held in the Mekong Delta province of An Giang on April 2 to discuss the creation of hi-tech agricultural value chains between Vietnam and Australia. Director of the provincial Department of Agriculture and Rural Development Tran Anh Thu said the event allowed local enterprises to learn about technical barriers and how to control the quality of farm produce exported to The workshop helped promote local agricultural products and opened up investment opportunities for local and Australian businesses, he added. Professor Scott Murray from He suggested the two countries create a trade and investment network to promote the essential value chain between Dr. Vo Tat Thang from the Ho Chi Minh City University of Economics highlighted the development of high-quality medicinal herbs to help Meanwhile, Dr. Nguyen Van Kien from the An Giang University introduced a safe vegetable growing project in On the occasion, the provincial Department of Agriculture and Development and the Vietnam-Australia business association signed a memorandum of understanding on cooperation. The capital city of The municipal People’s Committee has ordered the Department of Natural Resources and Environment to examine the environmental impact assessments of operating projects in the city. Meanwhile, investors must work to handle wastewater that can pollute and damage the surrounding environment and local livelihoods. All of the measures must be made in compliance with national technical standards. In addition, they must declare and pay fees for environmental protection. The capital city is now home to 18 industrial parks with a total area of nearly 3,441 hectares. There are 89 industrial complexes in the city, 43 of which are operating stably and 46 others have just completed their infrastructure systems. According to reports from relevant authorities, wastewater treatment plants have been built in nine operating industrial zones while construction of 21 stations in 43 industrial complexes has been completed. However, of the 21 only 10 stations with combined capacity of 10,800 cubic metres per day are operational. After ten years in the making, the crowning jewel of Saigon's vista, To date, myriad market analysts forecasted that a notable number of investors would bid lower than $268.22 million in order to protest the unrealistic listing rate, considering ten years of inactivity due to inefficient investment and postponed development. Within four days, the estimated starting price of the project's total assets shrank from VND7 trillion ($307.3 million) to $268.22 million, which is still frowned upon by investors. Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association (Horea), asserted that the listing price was considered "reasonable," yet there are high odds that the public auction will not attract the right investor despite the enormous interest expressed. Specifically, the total assets which would be included in the public auction comprise of the ownership of a total 14,954 square metres of the commercial area and the intangible assets which is the asset management of the entire construction of the garage, shopping mall, offices for lease, and supporting construction. Previously, in 2017, On August 21 last year VAMC officially sized the asset of Sai Gon One Tower Company in order to collect non-performing loans worth more than $300 million. The construction of Additionally, the project’s total capital mounted up to VND5 trillion ($219.5 million) with the initial target of becoming the third highest tower in Potential business opportunities for Vietnamese and Korean enterprises Vietnam Expo 2018, themed “Enhancing regional and global economic links,” continues to be the largest trade promotion event of the Ministry of Industry and Trade (MoIT). Over the years, Vietnam Expo has done a good job of promoting trade among neighbouring countries in the region and has been constantly expanding to reach an ever-increasing line-up of attending countries, increasing the number of enterprises which have well-known brands, and demonstrating new technologies, as well as connecting enterprises. The 28th Vietnam International Trade Fair (Vietnam Expo 2018) themed “Vietnam Expo—Enhancing regional and global economic links,” will take place on April 11-14 at Hanoi International Exhibition Centre (ICE). There will be 500 booths and 450 enterprises from 20 provinces and cities from across Over the past 25 years, Vietnamese-Korean trade has grown from just $500 million in 1992 to approximately $60 billion at the end of last year. The figure is expected to reach $70 billion by this year and $100 billion by 2020. Vietnam Expo 2018 will mark the 20th year that Korean investment in The Korean pavilion at Vietnam Expo 2018 will showcase some of the country's key strengths, including cosmetics, electronics, mothers and baby products, supplements, and food. These products have lured in many consumers due to their good quality, safety, and environmental friendliness. At the Vietnam Expo, exporters and retailers can directly meet and discuss as well as have a good look at new products while approaching the consumers. The Vietnam-Korea Design Centre pavilion will be hosted by Vietnam Trade Promotion Department (VIETRADE), MoIT, the Korean Department of Energy. All of the booths this year will be designed to be more innovative and impressive in order to show off the products of the two countries' seven best enterprises. The Vietnam-Korea Free Trade Agreement (VKFTA) will provide great tariff reductions on agricultural and aquatic products and are a great motivation to increase cross-border partnerships and trade. Vietnam Expo 2018 will be a great opportunity to boost trade between Korean and Vietnamese enterprises with a "new mindset" on quality and design. “ In addition, the tariff reductions on agricultural and aquatic imports provided by VKFTA will certainly increase the consumption of Vietnamese products in The annual Vietnam Expo has been mentioned by the Korean President at his latest visit to Over the past 27 years, Vietnam Expo has become a prestigious event for Vietnamese and Korean enterprises, especially those seeking investment opportunities. The Trade Fair will be open from 9:00-16:00, April 11-14, 2018 at Hanoi International Exhibition Centre (I.C.E), at Foreign investors flock to Lien Chieu deep seaport Although the construction of Lien Chieu port in Danang city has just been appraised, domestic and foreign investors are already interested in the project. Boskalis Inter A.V is the newest foreign investor that expressed interest in the project. Wanter Jacobs, regional business manager of Boskalis, said in the document sent to the Ministry of Transport that the investor wants to join component A–general infrastructure. Boskalis will collaborate with T&T Group to deploy this project, particularly in conducting the feasibility study, design, and build general infrastructure system in component A. Boskalis was founded in The chances of Boskalis-T&T venture joining the Lien Chieu project depend on the appraisal result of the pre-feasibility study of the MoT, which expects to submit it to the prime minister in the early second quarter of 2018. With the total investment of around VND7.378 trillion ($325 million), the Earlier, in January 2018, the prime minister has assigned the Ministry of Transport to appraise the pre-feasibility study of According to the city’s proposal, Lien Chieu Port would combine five functional areas, including a 50,000DWT (deadweight tonnage) harbour, another harbour which could handle 80,000-100,000DWT container ships with a loading capacity of 5,000-8,000 twenty-foot equivalent unit (TEUs), a liquid cargo harbour handling 10,000DWT ships, and an inland waterway harbour for 1,000-5,000DWT ships, as well as a logistics services area and other infrastructure. Hoa Phat Group accelerates $3 billion ill-fated Dung Quat steel complex Hoa Phat Group is accelerating the construction of the two phases of $3 billion Hoa Phat Dung Quat steel complex in the central Licensed in September 2006, the project was initiated by Taiwanese steel giant Tycoons with a total investment of more than $556 million. The investor committed to completing the construction within 36 months. E-United Group joined later by acquiring a 90 per cent stake. The two Taiwanese enterprises raised the registered investment amount to $3 billion in 2008 and then $4.5 billion in 2010, while simultaneously increasing the factory’s manufacturing capacity to seven million tonnes per year, five million tonnes higher than the initial design. In December 2015, the Dung Quat Economic Zone Management Authority carried out an inspection of the project grounds, while simultaneously requesting the investors to voluntarily liquidate its assets. In March 2016, the two investors committed to restarting the project with the total capital of $2.2 billion and an output of five million tonnes per year. The investors also committed to completing the construction within 42 months. However, after numerous further delays, the local authorities have grown distrustful of the investors as well as the very feasibility of the project. Since it received the investment certificate to revive this ill-fated project, Hoa Phat Group has completed the negotiations with foreign investors to purchase equipment and has installed the machinery and manufacturing line for the long-rolling steel facility. According to the plan, the first manufacturing line with the annual capacity of 600,000 tonnes will come into operation in May this year, and the remaining lines will start operation two months later. The construction of the hot-rolled flat steel facility (the second phase of the complex) was kicked off last year after Hoa Phat completed the sale of shares for the existing shareholders. The phase is expected to generate two million tonnes of hot-rolled flat steel products per year, making Hoa Phat the second hot-rolled flat steel maker in the country, following According to Tran Tuan Duong, general director of Hoa Phat Group, 60 per cent of construction steel manufactured by domestic plants is distributed in the northern market, while only 10 per cent reaches the central and southern markets. Thus, once the Hoa Phat Dung Quat steel complex comes into operation, one fourth of its products will be exported and the remaining part will be distributed at the central and southern markets. Duong added that as demand for high-quality steel to manufacture screws and bolts is increasing, Hoa Phat Group plans to distribute two third of its high-quality steel in the domestic market. According to Hoa Phat, despite the fact that its existing steel manufacturing plants exceed their designed capacity, its products have yet to satisfy the market demand. Hoa Phat is confident that with the increasing domestic demand for steel, it will not be difficult to sell all the products manufactured by the Hoa Phat Dung Quat steel complex. Speaking at the corporation’s annual general shareholders’ meeting on March 22, 2018, Duong stated that the upcoming Hoa Phat Dung Quat steel complex is not inferior to “The investment rate of Dung Quat project is only one third of Notably, it takes New barrier to weigh on car imports After the Ministry of Transport’s approval of the vehicle type approval (VTA) certification issued by the Thai and Indonesian governments, a new barrier is being formed to tighten the flow of car imports from ASEAN countries. After overcoming the barriers of Decree 116 on the VTA certificate, in early March, the first automobile batches enjoying tariff exemption have arrived at the seaports and opened a strong flow of completely built up (CBU) cars imported from ASEAN countries. According to the General Statistics Office (GSO), an estimated 5,000 CBU cars were imported to CBU cars imported from However, the imported car market is facing a new worry. The Government Office has just released a document containing directions from Deputy Prime Minister Trinh Dinh Dung to the Ministry of Science and Technology (MoST) and the Ministry of Transport (MoT). The DPM requested the two ministries to coordinate with other ministries and agencies in reviewing, building, and perfecting Vietnamese Standards for CBU cars in order to guarantee state management on the quality of imported cars and comply with international integration commitments. Vietnamese Standards is known as a new technical barrier to tighten CBU cars in the coming time. As Circular No.20/TT-BCT (the document previously regulating car imports) has expired and Decree 116 has been one-upped by the higher standard requirements of the new Vietnamese Standards, car imports are expected to be tightened to facilitate domestic assembly and manufacturing. On the other hand, experts said the global automobile industry has been developing for a hundred years now, and has achieved technological and technical heights that are far superior to Vietnamese Standards. Therefore, the new regulations and standards may not stop car imports to Representatives of some car businesses said that the new barrier will increase the number of procedures and certificates required to import CBU cars. Meanwhile, the automobile market has not yet exploded with the amphibious landing of automobiles from ASEAN countries. Phuc Son Cement under investigation Phuc Son Cement Corporation, which is one of the largest foreign-invested cement producing companies in According to the inspection report that the State Audit of Vietnam (SAV) has submitted to the prime minister and the Chairwoman of the National Assembly of Vietnam, Phuc Son Cement’s exploited mineral volume exceeded the volume it initially licensed in 1996. Besides, local authorities determined that Phuc Son Cement does not have the professional competence to exploit mineral from mines and it currently has to hire organisations and individuals to manage mining exploitation. However, Phuc Son Cement has used out-dated technology to exploit resources, causing serious environmental pollution. In addition, during the auditing process, the authorities found Phuc Son Cement less than cooperative. Notably, the firm refused to supply the necessary documents and was even found to have revised a number of documents and dossiers. Being considered one of the largest foreign-invested cement production plants in Furthermore, SAV added that the Haiphong Department of Natural Resources and Environment made an oversight in the management of mineral exploitation and tax payments of Phuc Son Cement. Notably, the department has yet to scrutinise the exploited mineral resources as well as the firm’s business report. In addition, in 2009, the Thuy Nguyen District People’s Committee in the northern port city of According to the State Audit, the firm shows signs of violation and estimated that the firm will have to pay VND266.6 billion ($11.69 million) in natural resources tax and environmental protection fees, among others. However, Phuc Son Cement is a foreign-invested firm, thus, in order to ensure transparency, the State Audit will send the inspection results to In January 1996, Taiwan Lucky Cement Corporation was granted the investment certificate to develop the Phuc Son Cement plant with a total investment capital sum of $265 million. The plant started commercial operations in May 2005 with a designed capacity of 1.8 million tonnes per year. The entire production line of the project was contracted, designed, inspected, and tested in accordance with Chinese standards, mainly using Chinese equipment. Being considered one of the largest foreign-invested cement production plants in Besides, in August 2014, there was a rock landslide at the company’s mine, killing five workers. In addition, residents living in the neighboring area of the plant complain a lot about the environmental pollution caused by the rock exploitation activities of the firm. In September 2014, Lucky Cement Corporation expressed intentions to develop a 51-hectare site on Hong Kong FTA set to boost FDI in A greater wave of investment from Hong Kong is expected to flow into hong kong fta set to boost fdi in vietnam Edward Yau, secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region Government, told VIR that among ASEAN countries, Vietnam is expected to gain the most from the ASEAN-Hong Kong Free Trade Agreement (AHKFTA), as the country is Hong Kong’s fourth-largest trading partner within ASEAN. Yau led a high-level Hong Kong business delegation which came to According to Yau, there are many attractive infrastructure developments in “Hong Kong can be a professional service provider as well as a financial trading hub for The businesses and startups that use Margaret Fong, executive director of the Hong Kong Trade Development Council, said that Hong Kong-based companies have been investing in A new sector for Hong Kong investment will be the financial technology (fintech) industry, which is attracting new companies to The AHKFTA is expected to boost and facilitate trade and investment between ASEAN was already Indeed, Amata Group receives investment certificate for industrial park Amata Group’s dream about developing the VND3.5-trillion ($153.56 million) On March 30, the Quang Ninh People’s Committee granted the investment certificate to Amata Group to build The project marks the first IP invested by Thai investors and the fourth by foreign investors in the province since 2014. Covering an area of 714 hectares, the construction will be divided into five phases with the total investment capital of VND3.5 trillion ($153.56 million). According to plan, the first phase of the project will welcome the first investors by the end of 2019. The purpose of Amata is to lure in sub-investors operating in the manufacturing and processing sector, hi-tech, biotechnology, and software. In reality, Amata has been planning to develop the project in 2013 after the group, in collaboration with the Quang Ninh People’s Committee and Tuan Chau Group, signed a memorandum of understanding to develop a hi-tech industrial park and township complex located in Phuong Dong ward of the province. According to the initial plan, the construction of the project was to be kicked off in December 2013 and finished by the end of 2014. However, the construction was delayed because the investor proposed to change the site from Phuong Dong ward to Song Khoai commune. After the change was approved by the authorities, it took a long time for the authorities and the investor to complete the procedures to replace Phuong Nam IP by the Song Khoai project in Along with the IP, Amata plans to build The project would focus on hi-tech IP development, automation, information technology, and especially electronics. The investor would also call for investment in research and development centres, logistics, exhibition centres, and laboratories in Halong. Covering an area of 714 hectares in the first phase, the project is expected to generate 300,000 jobs for Vietnamese people as well as bring in approximately $5 billion in annual revenue. The group submitted the documents of the Amata City Halong project to the government one year ago for approval, however, it has yet to receive feedback. Amata entered Accordingly, Amata City Bien Hoa is home to 164 investors from 21 countries and territories with the total registered investment of $2.66 billion and generates 49,000 jobs. Meanwhile, the Amata City Long Thanh industrial and urban complex covers a total of 1,270 hectares, 33 per cent of which is taken up by a hi-tech IP and 67 per cent by an urban community area. Korean GS25 heating up Vietnam's franchising scene Over the last 15 months, myriad foreign businesses, including South Korea-based GS25 and Japanese-owned 7-Eleven, came to the Vietnamese convenience retail market through franchising deals. In 2017, South Korea-owned convenience franchise chain GS25, under the management of GS Retail, officially entered Yun Ju Young, managing director of GS25 Vietnam, unveiled that the convenience chain planned to launch the first four stores in Ho Chi Minh City through franchising, followed by a total of 50 stores in major cities, such as Hanoi, Haiphong, Danang, and Can Tho by the end of 2018. Yun also stated that the capital city of Previously, GS25's convenience rival, Japanese-owned 7-Eleven, an American international chain of convenience stores, entered Vietnam in 2015 through a franchising deal with a joint venture named Seven System Vietnam. Nonetheless, the Texas-headquartered brand did not launch any convenience stores in GS25 was one of the 31 foreign companies penetrating the Vietnamese marketplace through franchising in 2017 alone. These multinationals mainly came from the Prominent brands among the multitude of franchisers currently present in Vietnam include the Costa coffee chain of UK-owned Costa International Limited and Dutch apparel retail ITX MERKEN B.V with its cluster of clothing, footwear, and accessories brands including Pull & Bear, Stradivarius, and Massimo Dutti. Previously, American Circle K, launched its first convenience store in In addition, Singapore-invested franchising Shop n Go, set foot in Ho Chi Minh City in 2005 as the first foreign convenience brand to enter the country's 24/7 retail market. To date, the Singaporean brand distributes products ranging from processed food and F&B items to makeup and skincare products.
VNN
|
Thứ Năm, 5 tháng 4, 2018
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét