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BUSINESS IN BRIEF 5/7
Environmental
management of nuclear power plant
A conference was
held in the south central
The four-day event
will focus on three main issues, including the assessment of environmental
impact and environmental management, radioactivity monitoring and safety.
According to
experts from the Japan Electric Power Information Centre (JEPIC), radioactive
and non-radioactive waste generated in the process of building and operating
the nuclear power plant needs to be strictly controlled in order to protect
local people from the detrimental impact of radiation.
They suggested
developing a report that fully evaluates the environmental effects and
includes a number of solutions to protect the environment.
The event was
jointly organised by the Ninh Thuan Nuclear Power Plant project management
board and the JEPIC under the Japan International Cooperation Centre (JICC).
To this end, both
sides have set a working agenda for negotiations, and they expect to go into
substantive talks during the four-day round in
They worked on the
major contents of the agreement and clarified their interests in the previous
three rounds. They exchanged several key offers, including one on opening up
the markets for their goods.
The fourth round
will focus on issues of great importance to both sides, with special
attention given to goods, services, investment, government procurement, and
protection of intellectual property rights, as well as general provisions on
trade in goods.
They will now
examine ways of opening up their markets after the agreement is penned, Thai
said.
He warned of the
complex negotiation process due to the EU’s tough requirements, but hoped
that both sides would overcome obstacles and complete the talks in late 2014
as scheduled.
Once the agreement
is in effect, import-export tariffs on agricultural products, food, footwear,
garments and other products will be slashed to zero.
The agreement is
expected to boost Vietnam-EU trade ties and attract more EU investment into
In 2011, the EU
ranked fourth among
Lam Dong
Province to construct Dau Giay-Lien Khuong Highway
The Ministry of
Transport and the People’s Committee of Lam Dong Province will invest in the
construction of the
The work is
expected to kick off before 2015. The construction is an extension of the
209km Dau Giay-Da Lat expressway project.
Additionally, a
19km expressway linking Lien Khuong in
The 84km long
railway line from Thap Cham (
The restoration of
the Thap Cham-Da Lat train route was approved by the Prime Minister in 2007.
The first 38
kilometers of Thap Cham-Da Lat train route from Thap Cham to Xom Gon was
built in 1908 and the first train came into operation in 1916. Then, the
railway line continued to be prolonged to Krong Pha at the foot of Ngoan Muc
mountain pass in the outskirts of Da Lat by 1917 and to the City area in
1922.
Da Lat railway
station was built in 1932 and put into use in 1936. There were two trains
between Da Lat-Nha Trang and Da Lat-Saigon in a day.
But this line was
destroyed in the war and abandoned in the late 1960s. Seven kilometers of the
track between Da Lat and Trai Mat has been reconstructed and operated for
tourism since 1997. Currently, the station is one of the most attractive
tourist destinations in Da Lat.
The Ministry of
Culture and Information certified the Da Lat Railway Station as a national
historical and cultural site in 2001. This was once considered the nicest
ancient railway station in all
The total capital
for development of this project will amount to VND58,175 billion.
Farm
exports decrease
According to the
Ministry of Industry and Trade (MoIT), export earnings from agro-fishery
products in June alone dropped by 3.2% to US$1.74 billion compared to the
same month of last year.
In the first half
of this year, coffee exports could only earn US$620 million, cassava and rice
earned US$176 and 74 million, respectively.
Of eight key export
items, two showed an increase in both volume and value, such as fruit and
vegetable (up 33.5%), and cashew nut (up 23%).
The MoIT attributed
the decreasing export turnover to the low purchasing power on the global
market.
US fund to
invest more in
Private equity
group Masan (MSN) announced on July 2 that
TPG Growth will pay
about US$50 million to acquire the shares from Masan Consumer. This
investment follows TPG Growth’s initial investment in Masan Group in 2009 and
is the fund’s third investment in
“Our investment in
Masan Agriculture is a testament to our belief in the company’s management
team, our partnership with Masan Group and in the agriculture potential of
Meanwhile, Masan
Group chief executive Madhur Maini commented that the partnership with TPG
provides the group with necessary expertise and capital to invest in the
agriculture sector.
Masan Agriculture
currently holds a 40 percent stake in Vietnamese French Cattle Feed, or
Proconco, whose Con Co animal feed brand is popular among Vietnamese farmers.
Masan Group plans
to transform Masan Agriculture into a subsidiary of the soon-to-be-created
Masan Consumer Ventures, wholly owned by the group.
The transaction is
subject to regulatory approval and other customary closing conditions and is
expected to close by the end of this month.
International
seminar on super fruits held
An international
seminar was held in
A European
definition states that super fruits are those which have a high nutritional
value, such as apples, grapes and cherries.
Experts from the
Food and Agriculture Organisation, the International Tropical Fruit Network
and the Ministry of Agriculture and Rural Development said demand for the
fruit is growing across the world.
They said tropical
fruits, especially mango, grapefruit, papaya and Gac fruit in
The gathering is
also a chance for
Machinery
exhibition attracts 340 businesses
Over 340 businesses
are showcasing their products and services at the 11th Int'l Precision
Engineering, Machine Tools, and Metalworking Exhibition (MTA) opened in
Around 80% of
exhibitors are foreign companies who introduce the latest tools and equipment
to Vietnamese industries. These technological advances could significantly
improve the production capacities of sectors including the automobile
industry, electricity, electronics, oil and gas, offshore exploitation,
precision engineering, metalworking, manufacturing, and support industries.
The exhibition
offers international groups and companies a chance to deepen their
understanding of the Vietnamese market’s particular needs, meet with
potential partners, and get a sense of the opportunities
During the
exhibition, which runs until July 5, attendees can experience demonstrations
and seminars on measurement and precision testing, production contracts and
sub-contracts, automated technology, welding technology, surface treatment,,
manufacturing quality, and innovative approaches to design and manufacturing.
VCCI Exhibition
Services Director PhanThi My Dung said the manufacturing industry is becoming
a highlight of
Vietnam
Mazda exports cars to Laos
The first batch of
Mazda 2, Mazda 3, and CX-5 automobile products assembled in
Mazda
Mazda
The Mazda 2 is the
first of its kind assembled by Vina Mazda, a plant based in Quang
THACO CEO Tran Ba
Duong says Mazda’s Vietnamese output has consistently risen since its
beginnings, reaching 3,000 this year. It now claims 5.4% of total market
share and ranks fifth among members of the Vietnam Automobile Manufacturers’
Association (VAMA).
VIB
finances Texhong’s project in Quang Ninh
Vietnam International
Bank (VIB) last Thursday signed an agreement with Texhong Yinlong, a
subsidiary of Hong Kong-based Texhong Textile Group, on a VND420-billion
credit for the textile company to develop its project in
The textile factory
of Texhong planned for development in
In the context of
persistent economic woes, the credit agreement is a testament to VIB’s
prestige and financial strength, and highlights its business policy of
accompanying foreign-invested enterprises (FIEs) as well as local firms.
Dam Bich Thuy,
general director of VIB, said: “We’re very proud for being chosen to provide
funding and financial solutions for an FIE with large investment in
“The VND420-billion
credit for Texhong will be a key to Texhong’s success in
Texhong Textile
Group is among the ten largest textile firms in
“We choose VIB, a
local bank, for this important project as we highly appreciate the capability
and reputation of the bank. Besides, VIB also offers flexible and preeminent
financial products. Specially, we praise the bank for its specialization in
the FDI customer service that has supported us a lot during the past time,”
Li said at the credit agreement signing ceremony.
He pinned hope on
further sustainable cooperation with VIB for mutual development in the
future.
PIT changes
to hit the back pocket
The taxable income
threshold for personal income tax will rise to VND9 million per month from
July 1 in a government move to ease tax burden amid economic woes.
The amended Law on
Personal Income Tax (PIT), which raises the taxable income threshold to VND9
million ($432) per month and boosts deductions from taxable income to VND3.6
million ($173) for each dependant, will take effect from July 1, 2013.
The Ministry of
Finance (MoF) estimated that the new rules mean that there will be mere one
million taxpayers instead of nearly four million as currently. Budget
collection will be reduced around VND15 trillion ($750 million) per year.
Under the old PIT
Law, the taxable income threshold was VND4 million ($193) per month for both
local and foreign workers in
The new PIT Law has
introduced some changes which will affect foreigners. The most significant of
which is in relation to the taxation of non-cash benefits. The tax will
increase as non-cash benefits will need to be grossed up with the exception
of housing. While this change does make sense in terms of putting cash and non-cash
benefits on a more equal footing, it is also motivated by a desire to
increase the tax take. This will also affect Vietnamese who receive non-cash
benefits.
Along with
Vietnamese, foreigners will derive a tax saving from the increase in the
individual and dependent deductions.
“The principal
issue which always causes the most difficulty at the time of tax finalisation
for foreign employees has not however been addressed,” said Thomas
McClelland, tax partner of Deloitte
If an individual
arrives in
A new measure on
residency tests slightly helps with respect to this issue in specific cases.
Under the old law, having leased accommodation for 90 days in the calendar
year meant that a person was resident in
With respect to
Vietnamese employees they will now be entitled to the same tax concessions
overseas, that foreigners enjoy when they come to
“The deduction of
voluntary pension fund contributions is welcome in encouraging private
provisions for retirement although it is capped at VND1 million per month,”
said McClelland.
Manufacturing
sector a magnet for investors
The Ministry of
Planning and Investment’s (MPI) Foreign Investment Agency (FIA) last week
reported that foreign direct investment (FDI) commitments in 2013’s first
half hit $10.47 billion, up 15.9 per cent from one year ago. Of which, a
giant $9.3 billion was committed in manufacturing sector, with retail,
property, information technology and communication, logistics and
construction making up the rest.
The disbursement
FDI capital at the same time was $5.7 billion, up 5.6 per cent in comparison
with the same period last year.
“Most FDI projects
in terms of manufacturing this year in
“The recovery FDI
data underscores that
Samsung Electronics
just two weeks ago received an investment certificate for its $1 billion
investment expansion plan in northern Bac Ninh province, that strengthens the
Korean group’s commitment to make
The export growth
of foreign-invested enterprises (FIEs) in Vietnam also supports this trend as
the FIA data for the first half of this year reported that FIEs’ export
revenue in 2013’s first half, excluding crude oil export, was estimated at
$37.37 billion, a 28.3 per cent rise and accounting for two-thirds of the
country’s total export value.
While investment
inflows from export-oriented companies remain steady, investments in sectors
driven by the domestic market are still modest. In 2008 and 2009 FDI in
Phan Huu Thang,
director of Centre for Foreign Investment Studies under Hanoi-based
“I don’t think this
is a good time for foreign investors to expand business in
The MPI reported in
2013’s first half that the total retail and services revenue rose 11.9 per
cent in comparison with 19.7 per cent at the same period last year. If
excluding price increases, revenue rose only 4.9 per cent, lower than 6.7 per
cent last year. “Despite the improvements in the recent months, the total
revenue of retail and services remains low,” the ministry said.
Dozens of
The presence of the
Vietnam’s capital in SAITEX 2013, the largest multi-sectoral fair in Africa,
aims to promote trade and exports to Africa in general and South Africa in
particular.
The
“Visitors’
attention shows that those products can well penetrate into the African
market,” said Deputy Director of the Hanoi Department of Industry and Trade
Nguyen Van Dong
According to John
Thomson - Managing Director of the
The three-day
annual event, which bridges producers, exporters, importers and distributors
of consumer goods, is expected to draw over 15,000 turns of visitors.
Capital
cuts new auto registration fee to 12%
The Ha Noi People's
Council has decided to cut registration fees for new cars with fewer than 10
seats to 12 per cent.
Registration fees
for second-hand cars with fewer than 10 seats will remain at 2 per cent.
The current level
of 15 per cent has been in effect since the beginning of April. Previously,
the fee was 20 per cent.
The decision aims
to increase car sales in the city, helping automobile manufacturers overcome
difficulties caused by falling sales.
Motorbike users
will pay a road-use fee of VND100,000 each year, to be sent to the country's
road maintenance fund.
In a response to
these changes,
The Viet Nam
Automobile Manufacturer's Association (VAMA) reported that sales of locally
assembled automobiles in May rose 11 per cent over April and 42 per cent over
the same month last year, totalling more than 9,700 units.
The association
raised its prediction of total car sales this year from 100,000 to 108,000.
Toyota Viet Nam
Company took the lead, selling around 2,800 units – an increase of 74 per cent
over the corresponding period last year.
Ford sold 620
units, a rise of 176 per cent over the same period last year, while Kia saw a
26 per cent increase.
Several new models
were provided to the market such as the Mercedes GLK220 CDI, BMW 3 GT, Honda
City, Honda CR-V and Hyundai Elantra.
Rolls-Royce Motor
Cars planned to launch an exhibition this week, confirming
Police
seize 40,000 smuggled eggs
Police in northern
The driver could
not show papers to verify the origin of the products. He confessed that he
was hired to transport the goods for an unknown person.
All eggs were
seized for destruction as regulated.
Firms
showcase manufacturing products
The number of local
companies taking part this year in the country's largest
manufacturing-solutions event has doubled to 67 since its first event held in
2005.
The four-day MTA
Viet Nam 2013 opened yesterday with five sections focusing on meteorology,
tool technology, subcontracting, automation and welding technology.
Tee Boon Teong, of
the Singapore Exhibition Services' office in
"This creates
a market for local representatives of international brands as they benefit
from exposure to buyers from local firms well as international companies that
have local operations," he said.
"This is a
healthy reflection of
Phan Thi My Dung,
acting director of VCCI Exhibition Services, said the event featured 341
exhibitors from 21 countries and regions and 11 international pavilions,
including exhibitors from
A wide variety of
quality products and solutions in precision engineering, machine tools and
metalworking are being showcased.
First-time local exhibitors
are showcasing a variety of manufacturing solutions, from laser machines and
measurement devices to welding equipment.
Some of the
newcomers are ITO Viet Nam Co, Welding Technology and Equipment Co and Viet
Nam Precision Industrial Joint Stock Co.
A series of
seminars by industry leaders is also being held.
MTA Viet Nam 2013
was organised by the Singapore Exhibition Services in collaboration with VCCI
Exhibition Service Co at the Sai Gon Exhibition and Convention Centre. It
will end on Friday.
MOIT
unveils portal on industry and trade
The Ministry of
Industry and Trade (MOIT) has launched an online portal dedicated to
providing a detailed database of information on industry and trade to the
public.
The information to
be made available includes, for example, detailed data on a specific
commodity or export figures to a specific market, said Do Van Chien, Head of
the MOIT Centre for Industry and Trade Information at the launching ceremony
on July 2.
The online portal
also provides a central database where the business community and others can
quickly access data collected from different sources including the MOIT, the
General Statistics Office and provincial departments of industry and trade.
MOIT Deputy
Minister Ho Thi Kim Hoa said that the database will not only serves the
business community but will also be an effective tool to help regulators
formulate appropriate economic policies.
She added that
plans are underway to expand the database in the future to include in-depth
market analyses.
The database portal
is available at http://eitdata.moit.gov.vn.
Banks charge
low fees for gold custody service
After stopping gold
mobilization, banks are now providing gold custody service at various fees,
most of which are nominal.
Several banks just
impose a token fee for gold custody service because most of those who use this
service are their depositors previously.
For example, Nam A
Bank provides the service for only VND1,000 per tael during the entire time
gold is kept at the bank, rather than charging fees on a monthly basis.
At DongA Bank, the
minimum fee for gold custody is VND2,000 and the maximum one is VND100,000.
Meanwhile, Sacombank sets a service fee of VND10,000 per tael, which will
vary among its branches.
An ACB employee
said gold saving contracts would automatically turn into gold custody
contracts if clients had not withdrawn their gold.
ACB charges a
fairly high fee, 0.05% of the gold value. The fee will be lower if gold is
kept for more than six months, but it will be at least VND50,000 per month.
Banks only keep SJC
gold or the gold they previously produced. All the gold bars must be
qualified with wrapping intact.
Le Thanh Trung,
deputy general director of HDBank, said the demand for gold custody service
would remain high in the coming time because citizens were buying more gold
as prices went down.
Citizens are ready
to pay for gold custody service to keep their gold safe and when in need,
they can sell gold to banks, he said. HDBank now charges a fee of 0.05% of
the gold value.
Some people wonder
if banks will return the exact gold bars that clients entrust them with.
Representative of a bank said banks could only return clients gold bars of
the same quality.
If clients want to
retrieve the exact gold bars, they should hire a safe deposit box to keep
their gold at banks, he said.
Sacombank has
offered safe deposit boxes for a long time, but they are only available at
its headquarters for a fee of VND120,000-200,000.
Exports to
Vietnamese exports
to
Vietnamese exports
to Africa in the first six months rose by an estimated 41.7%, which is the
highest growth rate among all export markets of
The strong growth
in exports to Africa is partly attributed to the increase in gold exports to
In addition, data
of the General Department of Customs shows that mobile phones and rice were
two other major items
Exports to
Since January,
Still, rice exports
to
In the first five
months of 2013,
Vietnamese
exporters penetrate French market
One reason for the
growing purchase of Vietnamese products is that they are sold at lower prices
than those made in
French Customs show
a sharp increase in the volume of machinery and electronic equipment imported
from
For instance,
household appliances (made from mostly wood and timber) rose 14.6 percent
from US$116.2 million in 2011 to more than US$133.2 million in 2012.
Vietnam’s export
earnings from France last year hit a record high of US$2.7 billion, up 39.6%
or (US$1.9 billion) from the 2011 level. They were maintained at an annual
growth rate of 35-37 percent in the previous year up to 2010.
The
Trade Counselor to
France, Nguyen Canh Cuong, warns that there is concern in some developed
countries about free webmail services. If Vietnamese exporters rely on
companies like Gmail, Hotmail, and Yahoo! to contact their French partners,
they may risk being subject to automatic spam filtering.
Cuong notes that as
the European Union’s (EU) timber import origin regulations took effect as of
Mach 1, they would rather present the legal certificates of their product
origin at the customs offices of EU member countries before delivering their
goods overseas
According to Cuong,
the Vietnamese community in
Cuong says the
French CASINO retail chain is a distributor of Vietnamese products from the
major Vietnamese retailer Big C, and domestic businesses could contact Big C
as an intermediary if they wish to export their products to
The Ministry of
Trade and Industry ‘s latest report says Vietnamese exports to France
increased by 1.6 percent to US$769 million over the first five months of
2013.
Seminar on
Euro crisis and
A seminar was
co-organised by the
Hoang Van Huay,
Vice President of the VGFA, spoke of the public debt recession in
The global economic
crisis, he forecast, is likely to ease off in the second half thanks to
stimulus packages adopted many countries.
Prof. Christa
Randzio-Plath, President of Germany’s Marie-Schlei Association, analysed the
monetary crisis as well as the future of currencies in the world,
particularly the prospects of the Euro – the currency of connectivity in
Europe - as well as the entire
The professor said
the global economic and financial crisis has not only put the EU in a
difficult position, but also posed new challenges to the union.
According to the
scholar, it is necessary to establish a social alliance apart from the
economic and monetary alliance to boost EU solidarity.
Seminar
highlights
A seminar was held
in the
Participants
delivered reports on the current situation of the implementation of the law,
and regulations on competitive activities related to consumer protection.
Phan Khanh An, an
expert from the Vietnam Competition Authority, said the law has created a
legal corridor for protecting consumer rights in
Participants heard
a presentation by Edakubo Ayumi, an expert from Japan Consumer Information
Centre, on the legal structure and status of consumer protection in
She also shared
experiences in protecting consumers by highlighting the active role of the
Japanese government in the field, raising consumer awareness and exposing law
breakers.
Vietnam to
attend Chinese Export and Import Fair
CANTON Fair will be
divided into three phases based on different industries and sectors.
It is the world’s
biannual largest fair, featuring 30,000 stands with three transaction
sessions and drawing of more than 200,000 enterprises and distributors from
the
The event provides
a good chance for domestic and foreign import-export businesses to boost
trade promotions, introduce products and expand their markets.
This year,
The 113th CANTON
Fair has attracted more than 202,700 international visitors from 211
countries and territories.
Vietnam-Japan
cooperation in focus
Under the framework
of Vietnam-Japan cooperation towards 2020 with a vision to 2030, the focus
will be on six major areas.
They include
electronics, agricultural machinery, agricultural and forestry processing,
shipbuilding, environment and energy saving, and automobile industry.
They will play a
key role in attracting domestic and foreign investment, especially from
They will grow by
at least 20% annually and contribute at least 35% of total industrial
production value by 2020.
They will use
domestic input materials to increase the added value and competitive edge of
their products in the international market.
A number of major
projects will be put into operation to raise the output of oil refinery,
steel production, electricity, gas and energy in the long run.
The Ministry of
Industry and Trade said the rate is a bit lower than the figure estimated by
the National Assembly (NA) and the government which was forecast at 8%.
According to the
ministry,
As a result, the
ministry forecast that the country would gain export revenues of USD127
billion for this year, up around USD1 billion compared to the target set by
the NA and the government.
Export revenues
reached USD62 billion in the first half of this year, up 16% from the same
period last year.
In order to realise
the country's export target, revenue from exports will have to increase by
USD10.67 billion in the last half of the year.
The country
imported over USD62.4 billion worth of goods in the first half of the year,
up 17.4% on year. This has brought the country’s trade deficit to USD1.4
billion during this six-month period, equal to 2.3% of its export revenues.
The ministry also
noted that imports by domestic enterprises were up 6.3% between January and
June, giving proof of positive development for the economy at large.
At the top of the
list of imported products were mobile phones imports during the six-month
period.
The ministry added
that market demand could be expected to improve in the second half of the
year.
Dong Nai
finds more Japanese investmen
The southern
During the period,
the province's Nhon Trach 3 Industrial Zone alone attracted eight projects
worth 33 million USD. Most of them are small and medium-sized projects in the
engineering industry.
The latest addition
has brought the number of Japanese-invested projects in the province to 132,
worth over 2.8 billion USD, putting
The number of
Japanese businesses showing interest and operating in Dong Nai has been
increasing, the department said.
"We will
continue to create all favourable conditions for small- and medium-sized
Japanese enterprises to invest in the locality," said Chairman of the
provincial People's Committee Dinh Quoc
While receiving a
delegation from the Japan International Co-operation Agency (JICA) led by Jin
Wakabayashi early last month, the chairman spoke highly of Japanese
investors' operations in the province over the past time.
He said that
through JICA support, a 35 million USD project to build an 18-ha workshop
area for Japanese businesses in the Nhon Trach 3 Industrial Zone would be
implemented soon.
The province has
continued to perfect its infrastructure construction, develop support
industries as well as better implement support policies for Japanese
investors in an attempt to attracting more Japanese investment in the near
future.
Fruit and
veg export enjoys fertile growth
The national export
value of fruit and vegetables rose 33.5 percent year-on-year in the first
half of 2013, reaching 492 million USD.
Of this figure, 110
million USD was made in June, the Ministry of Agriculture and Rural
Development has announced.
Meanwhile, the
export value of the produce to
However, the export
volume was still smaller than the demand of the Japanese market, the ministry
said.
Other markets also
saw a sharp increase in export value, including an 84.5 percent rise to 13
million USD in the
Nguyen Van Ky,
general secretary of the Vietnam Fruit and Vegetables Association
(Vinafruit), said dragon fruit is particularly valuable, accounting for 40
percent of the total export value, with the
Since
Dragon fruit
exports to the
Vietnamese rambutan
is also favoured in the
Meanwhile,
Vietnamese mangos, litchis and longans should be granted licences for export
to markets in the
Despite the
positives, the preservation of produce after harvest is the weakest point of
local fruit, said Bui Thi Thanh An, deputy head of Trade Promotion Agency.
She said better preservation will lead to increased value.
EVN pulls
the plug on non-essential business operations
Electricity of Viet
Nam (EVN) is withdrawing its capital from several non-core businesses,
especially in banking and real estate sectors, it said in a report released
yesterday.
The group is
required to complete its plans to withdraw capital from several non-core
businesses by 2015.
In the first six
months of the year, EVN has focused on divestment of An Binh Commercial Joint
Stock Bank (ABBank), Global Insurance Company (GIC), Sai Gon Vina Real Estate
Company, Central Power Real Estate Joint Stock Company (LEC), and EVN Investment
and Construction Joint Stock Company.
EVN and its members
have completed their development plans in the 2012-15 period with a vision to
2020 and has submitted them for approval.
It also approved
production and business plans of five companies in the period, including
saving and using electricity efficiently in the years of 2013-15; saving
costs in management, production, business and investment; restructuring the
National Power Transmission Corporation and other five electricity companies.
The group handed
over authority, capital and assets to generation companies (GENCO).
The Ministry of
Industry and Trade has asked EVN to take responsibility for its debts and
other assets as well as to ensure business effectiveness.
It also required
the group to withdraw all capital from real estate and banking industries.
Africa-VN
trade soars
Vietnamese exports
to
Exports to Asian
countries rose by 19.9 per cent, exports to Europe increased by 15.8 per cent
and exports to the
The strong growth
in exports to Africa is partly attributed to the increase in gold exports to
In addition, data
from the General Department of Customs shows that mobile phones and rice were
two other major items Viet Nam exported to Africa.
Exports to South
Africa, Viet Nam's largest export market in the continent, during the first
five months totaled US$274.6 million, up 32 per cent year-on-year, with
exports of cell phones and components reaching $168.5 million, a surge of
more than 3.5 times year-on-year.
Since January, Viet
Nam has had difficulty exporting rice to a number of African markets, such as
Ivory Coast, Ghana and Senegal, due to competition of cheaper rice from India
and Thailand, according to MoIT's Department of South West Asia and Africa
Markets.
Still, rice exports
to Africa in May grew more significantly than during the preceding months
because African rice stockpiles had declined, prompting African countries to
boost imports.
During the first
five months of 2013, Viet Nam exported 83,600 tonnes of rice to Angola (up
186 per cent), 68,800 tonnes to Cameroon (up 122 per cent), 34,400 tonnes to
Mozambique (up 31.4 per cent), and 15,300 tonnes to Togo, a near seven-fold
rise.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Năm, 4 tháng 7, 2013
Business
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