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BUSINESS IN BRIEF 2/8
Japanese
designer chosen for hi-tech healthcare park
Kume
Design Asia Co. Ltd. has been chosen as the designer for the oncology and
neurosurgery hospital in the hi-tech healthcare park HoaLam-Shangri La in
HCMC.
The
Japanese company on Wednesday signed a contract with Trieu An-Hoa Lam
Hospital Co. Ltd., a joint venture between Hoa Lam Investment Consultancy Co.
Ltd. and Trieu An Private General Hospital JSC.
The
oncology and neurosurgery hospital with a total of 700 beds will cover more
than 32,300 square meters. They will be located next to Thanh Do
International Hospital in the hi-tech healthcare park at 532A
Trieu
An-Hoa Lam Hospital Co. Ltd. decides to partner with Kume since this company
has designed over 400 international hospitals around the world, said Nguyen
Quang Duc, chairman of the board of members of Trieu An-Hoa Lam.
Kume
Design Asia Co. Ltd., a unit of Kume Sekkei Group, will also give advice on
designs of other hospitals in the healthcare park, including a 15-storey
cardiovascular hospital with an estimated 350 beds and a 15-storey hospital
for women and children with 380 beds.
The
hi-tech healthcare park HoaLam-Shangri La with a total area of nearly 40
hectares is invested and developed by Hoa Lam-Shangri La Healthcare Co. Ltd.,
a joint venture between
The
project worth over US$1 billion is scheduled for completion after ten years
of construction. It consists of four components: a healthcare zone with six
hospitals offering 1,750 beds; an education and training zone; a support zone
with commercial center and office building and a public zone with hotel,
convention center and park.
Thanh
Do International Hospital, the first hospital in the hi-tech healthcare park
to get going, is set for opening next month. With 320 patient beds, Thanh Do
is designed as a general hospital, with major wards like obstetrics and
gynecology, pediatrics, cardiology, otolaryngology ophthalmology and
neurology.
More
exporters turn to e-commerce
Business-to-business
e-commerce websites are becoming popular with Vietnamese exporters as they
seek to beat the worst effects of the economic meltdown.
A
report by the Ministry of Industry and Trade's e-Commerce Department
following a survey on e-commerce said 12 per cent of responding companies had
dabbled in e-commerce through websites like www.Alibaba.com, with 80 per cent
liking the outcome.
Than
Van Hung, general director of Visimex Joint Stock Company, told Thoi Bao Kinh
Te Viet
After
that they began to get four or five e-mail inquiries every day about their
products, and the number surged to 25-30 after becoming a "Gold
Supplier" on the site, he said.
Half
of them were serious customers, with 10-15 per cent already signing deals
with the company.
Another
survey, this one by OSB Investment and Technology Joint Stock company and
quoted by the Viet Nam Economic Times, found that firms were five times more
likely to succeed by using e-commerce.
Besides,
65 per cent of such enterprises were confident of overcoming the economic
slump compared to only 10 per cent of those not using e-commerce.
Even
large companies have begun to use b2b wesbites thanks to the low cost and
convenience.
But
analysts said companies should also retain their traditional business
methods.
They
still have to take part in exhibitions within and outside the country and
trade promotion programmes, they said.
But
since b2b websites offered the same ease of doing business to rival firms
too, competition was intense and companies had to work hard, the analysts
said.
Online
demand for Vietnamese products would increase in future, so domestic
companies had to prepare carefully to achieve success, they added.
Shell
Shell
The
new product improves engine and oil durability by offering acid control and
prevention of deposits, thus keeping engines clean for better performance.
It
also keeps apart the moving metal engine surfaces and prolongs engine life.
Vingroup
to build finance centre
Vingroup
Joint Stock Company has gained approval to build an international
finance-banking centre and a trade and service complex in Thu Thiem urban
area in
According
to the municipal People's Committee, the projects will cover a total area of
250,000sq.metre.
The
committee said Vingroup would commission international consultants to draw up
detailed plans for the projects.-
Over
240,000 tonnes of rice shipped abroad in July
The
4-10% broken rice made up the largest proportion of the total (132, 357
tonnes or 54.77%), followed by the 25% broken rice (51,000 tonnes - 21.1%)
and the 15-20% broken rice (35,410 tonnes - 14.65%).
Africa
was
As of
July 18, the country shipped 3.73 million tonnes of rice abroad and earned
US$1.59 billion.
Half-year
footwear exports approach nearly US$4 billion
The
Vietnam Leather and Footwear Association (Lefaso) has reported earnings from
The
Lefaso
said production has thrived since the second quarter with gradually
increasing export orders and stable indications of demand.
The
positive results, combined with new business opportunities, are expected to
help the footwear industry achieve its 2013 export target of more than US$9
billion worth of goods.
Vietnamese
fruit to penetrate US market
Minister
of Agriculture and Rural Development Cao Duc Phat has said the
Thanh
nien news wire on July 25 quoted Phat, saying the agreement was reached
during a July 24 meeting in
Phat,
who is accompanying Sang during the visit, also attended the meeting.
Both
sides agreed to increase cooperation in the application of science and
technology in agricultural production, and climate change adaptation.
They
concurred that they will work closely together to address pending issues to
facilitate the trade in Vietnamese farm produce.
The
According
to Minister Phat, Secretary Vilsak said he will work with relevant
Both
sides agreed to accelerate current negotiations of a Trans-Pacific
Partnership (TPP) agreement to boost bilateral trade ties concerning farm
produce.
“The
signing of the agreement is of great significance for
Increase
in demand for online recruitment
According
to Mr. Jonah Levey, Chairman of VietnamWorks, the demand for online
recruitment has increased by 14 percent in 2013 compared to last year.
VietnamWorks
is an online recruitment website that caters to job offers in
According
to Mr. Levey, this year the demand for online recruitment has increased
sharply as
In
particular, recruitment demand in fields such as wholesale trade, retail,
medicine, biotechnology, insurance and customer service has increased.
On the
other hand, recruitment demand in fields like oil and gas, banking,
engineering, construction has reduced compared to last year. In particular,
banking faces the most difficulties at present.
Audit
finds hole in State budget
The
national financial audit for the 2011 fiscal year was released at a press
conference in the capital city on Thursday by Le Minh Khai, Deputy Auditor
General of the State Audit of Viet Nam.
Khai
said that during their audit, his agency had discovered that VND14.7 trillion
(US$700 million) was still to be collected or had been spent by different
economic entities.
"Of
the sum, nearly VND2.2 trillion ($104.7 million) was still overdue; VND2.5
trillion ($119 million) went on overspending and VND957.8 billion ($45.6
million) was added to the current bad debt," he said.
The
audit said that during their work at the State Bank of Viet Nam (SBV), six
financial institutions, including banks, insurance companies and financial
companies, auditors had completed their task and followed the government's
policies and guidelines on monetary management. Some institutions made a
small profit while some were lower than the previous year (2010).
The
revenue made from investments and the stock exchanges in 2011 by the Bank for
Investment and Development of Viet Nam (BIDV) was between 3.1-3.4 per cent
while the Cuu Long Delta Housing Development Bank recorded only 0.07 per
cent.
Khai
told reporters that the SAV has referred five cases for further
investigation.
They
are the Project Management Unit at the Hung Yen Department of Agriculture and
Rural Development because of an incorrect financial settlement of over VND3
billion ($143,000) for two water supply projects that did not happen; the
Thanh Nghe Tinh Foodstuffs Joint Stock Company, advanced VND143 billion ($6.8
million) to buy rice, but failed to buy it; Financial Company No 2 under the
Viet Nam Bank for Agriculture and Rural Development, misused a loan from Viet
Nam Social Security; the Mekong Construction Company - an affiliate of
VINACONEX Xuan Mai, failed to implement a real estate project despite having
bought the land; and the Da River Company after fraud was discovered when the
company was found to have been misusing funds as well as when buying and
selling foreign currencies.
Khai
also said that during their time at major petrol importing and exporting
companies, his staff also detected falsified applications for foreign
exchanges, to determine petrol prices or when receiving money from the
stabilising fund.
Referring
to a question put by the Vietnam News Agency on the issue, that many people
had more than one health insurance card, Khai said his agency has petitioned
for the return of more than VND6.4 billion ($305,000) to the state budget.
Bui
Duc Thu, a permanent member of the Financial and Budgetary Committee at the
National Assembly added at the press conference that according to the SAV's
report, by the end of 2011, public debt had remained under the safety bench
mark.
"By
December 31, 2011, public debt had reached VND 1.3 thousand trillion ($66.3
billion), equal to 54.9 per cent of GDP," Thu said. However, he added,
"the state budget is always overspent. As a result, the government has
to use ODA to compensate."
In the
first half of this year this exports grew by 98.4 per cent.
Samsung's
Bac Ninh plant provided jobs for around 40,000 workers. While delivering a strong
export performance, the facility has also imported a significant volume. In
the first half, its imports in fact cost over US$9.3 billion.
Southern
firms trail technology trend
Firms
working in support industries in
The
survey was conducted last year by the ministry's National Centre for
Socio-Economic Information and Forecast and collated responses from a sample
of 650 firms.
According
to findings, uncertainty over the future of
Trends
also showed that only 3 per cent of firms had upgraded their machines over a
three-year period. Thirty five per cent did not spend any money on new
technology while 57 per cent of firms were shown to have partially upgraded
during the same period.
Findings
also showed 27 per cent of surveyed enterprises were using automatic
machines, 58 per cent were using semi-automatic technology and 8 per cent
were still operating manually. Foreign companies were shown to be twice as
willing to use automatic machines.
The
survey manager, Nguyen Viet Se, said investment was playing an important role
in improving the size and quality of output and was necessary for industry
development.
Se
also said that technology was an important factor in boosting export revenue.
Results
also showed that export revenue accounted for 32.6 per cent of total revenue,
with export revenue for foreign companies measuring 42.7 per cent, triple of
that of domestic firms.
Speaking
to Dau Tu (Investment) Newspaper, Canon Department Manager Kinya Okada said
that companies were finding it difficult to find local suppliers and that a
lack of suppliers was forcing companies to import foreign products.
Few
enterprises believed they were benefiting from Government policies.
Respondents said erratic changes and inconsistencies in policy were making
investment decisions more difficult.
Phones,
components biggest dollar earners
Exports
of mobile phones and components in the first half doubled to over $11 billion
from last year.
According
to figures released by the customs, phone and component exports helped reduce
the country's trade deficit in the first half to less than $1 billion, much
lower than forecast.
In the
period
Thus
deficit of $933 million is much lower than the original estimation of $1.4
billion by the National Statistics Office earlier this year.
Korean
giant Samsung's investment and exports from its plant in the
Exports
by the Samsung factory in the first six months were worth some $11 billion,
or almost hitting the level of $12.6 billion recorded in the whole of last
year, according to the Bac Ninh Industrial Zones Authority.
Samsung
has played an important role in making mobile phones and components the top
export item for
Their
exports were worth $1.88 billion in June, a slump of 13 per cent from May.
The
export of mobile phones and components grew 198.4 per cent in 2011 and 98.8
per cent last year.
Credit
rating shortfalls hold back bond market
The
development of the corporate bond market in
Only
39 corporate bonds are listed on the HCM City Stock Exchange and there is
nearly no trading of these bonds. From the perspective of market insiders,
the bourse has failed to become an effective channel for businesses to raise
capital.
According
to Do Viet Dung, a financial expert from the Ministry of Finance's Banks and
Financial Institutions Department, investors are not keen on corporate bonds
due to the lack of information on credit risks and poorly thought-out
interest rates.
"Interest
rates partly reflect the financial health of businesses," Dung said
during an interview with Thoi bao ngan hang (Banking Times). "If the
credibility of a company is low, the offered interest rate should be higher.
However, there's no standard for determining rational interest rates for
corporate bonds because of the lack of real credit ratings."
Dung
said banks were the major buyers of these bonds as they already had long-term
credit relationships with enterprises, but this trend was a cause for
concern. All corporate bonds offered in 2012 and 2013 were bought by
commercial banks.
"The
objective of the corporate bond market is to help businesses raise capital by
issuing debt instruments and diversifying bond buyers. But if the buyers are
only banks, the dependence on the banking system is even larger," Dung
said.
In
2012, 43 companies registered to issue corporate bonds with a total value of
nearly VND33.74 trillion (US$1.6 billion) but only VND24.33 trillion ($1.16
billion) worth of bonds were issued successfully.
The
number for the first half of this year was almost VND19.04 trillion ($906.7
million) and VND8.28 trillion ($394.3 million), respectively, according to
data from the Ministry of Finance.
Issuers
are mostly banks and State-owned enterprises. Some private companies also
issued bonds but the success of these bonds is not yet clear.
To
boost the development of this market, the Ministry of Finance was finalising
a draft decree on the establishment and operation of credit rating companies,
said Phan Thi Thu Hien, deputy director of the Banks and Financial
Institutions Department.
Hien
said the wide use of credit ratings will have a great impact on the capital
market, including on the prices of debt instruments and activities of both
investors and issuers.
Sugarcane
yields sweeten but quality still lags
Sugarcane
yields have risen more than 14 per cent this year against the previous
11-month season, but an oversupply and the low quality of sugar remain
pressing concerns of the industry.
The
country's sugar mills produced 1.53 million tonnes of sugar from mid-August
last year to mid-July this year, up 14.5 per cent, according to the
Department of Processing and Trade for Agro-Forestry-Fisheries Products and
Salt Production.
Department
officials were speaking at a meeting held by the Ministry of Agriculture and
Rural Development in
Despite
a higher output this season, participants at the meeting said that the
quality of domestically produced sugar was lower than sugar produced in other
countries.
In
addition, there is a large inventory of sugar in the country, which indicates
that supply and demand have not been balanced well, according to Nguyen Trong
Thua, head of the Department of Processing and Trade for
Agro-Forestry-Fisheries Products and Salt Production.
The
country now has 1.53 million tonnes of sugar, not including the quantity of
sugar imported under World Trade Organisation commitments this year.
The
country's annual sugar demand is 1.3-1.4 million tonnes, according to the
Viet Nam Sugarcane and Sugar Association.
Thua
said the industry's sustainable development could be ensured if the
cultivation areas remained about the same size and supply was better managed.
He
said that farmers should focus on better sugarcane strains, which could
improve yield and quality.
The
country's average yield of sugar is 5.5-5.8 tonnes per hectare, equal to half
the world's average yield.
In
addition, sugar mills should work together more closely to harvest, buy and
process sugarcane, he said.
Thua
also recommended the use of sugar byproducts for the production of
fertiliser, alcohol and electricity. This would increase profits for the
sector, he said.
According
to the sugar association, production costs of sugarcane and sugar production
are still high.
Meeting
participants also noted that sugarcane was being transported to sugar mills
several days after harvest, leading to high levels of post-harvest losses.
And in
some areas, farmers harvested their sugarcane too early, affecting quality.
Attendees
at the meeting also asked government agencies to impose higher penalties on
sugar smugglers.
In the
2012-13 sugar season, farmers planted more than 298,000ha of sugarcane, up by
15,000ha, with an average yield of 63.9 tonnes per hectare, an increase of
2.2 tonnes per hectare in yield against the 2011-12 sugar season.
Fund
supports housing market
Up to
VND11 billion (US$524,000) of the Government's VND30 trillion ($1.42 billion)
loan package to support the property market has been provided to 56 home buyers,
the Ministry of Construction said.
The
Viet Nam Joint Stock Commercial Bank for Industry and Trade (Vietinbank)
received 160 applications for loans under the package while the Bank for
Investment and Development of Viet Nam received 100.
The
State Bank of Viet Nam (SBV), meanwhile, has announced the signing of loan
contracts to two social housing developers to build new or convert existing
projects.
They
are Vicoland Joint Stock Company, which is developing social housing in
central Thua Thien-Hue Province, with a loan of VND117.709 billion ($5.605
million), and Hoang Quan Real Estate Corporation, which is converting housing
in HCM City, with VND540 billion ($25.72 million).
Ministry
statistics show there are 47 commercial housing projects which have applied
to convert to social housing, involving 33,000 apartments and a total
investment of VND19 trillion ($905 million).
Sixteen
commercial projects asking for permission to reduce the size of their
apartments will increase the total number from 4,700 units to 6,600 units.
Thirty
social housing and conversion projects were sent to the State Bank to
determine their eligibility for loans. Of them, four were State-owned
enterprises and four were joint-stock companies with State holdings. The rest
were in the private sector.
The
support package aimed to clear the backlog of high-price apartments and to
help low-income earners get a home, the ministry said.
It was
being strict in its assessments to meet the letter of the law which meant
there was no preferential treatment.
Besides
the five banks appointed to implement the support package, many other banks
offered credit at preferential interest rates to home buyers.
HDBank
offered loans at 0 per cent interest rate for the first year for those who
bought apartments in the Dragon Hill Residence and Suits in Phuoc Kien
Commune,
Eximbank
had a VND5 trillion ($238.095 million) loan package with interest rates at
10-12 per cent per year over the first two years.
Vietbank
had two credit packages for home buyers: one at 11.5 per cent to December 31,
to be adjusted every three months thereafter; the other was interest-free for
the first month, 12.56 per cent for the following 11 months, and according to
the bank's policy thereafter.
Nam A
Bank offered rates of 0-10.9 per cent per year for the first three months for
loans from VND200 million ($9,300) to VND5 billion ($238,905) before
September 30.
Nam A
Bank deputy general director Tran Ngoc Tam said, however, that many people
hesitated to borrow from banks for home purchases and those who were really
in need of social housing did not meet lender requirements.
Surge
in footwear exports sees revenue on track to top US$9b
Over
the first half of this year, earnings from footwear exports totalled about $4
billion, a 14 per cent increase over the same period a year ago or 6.5 per
cent of the country's total export turnover, Lefaso said.
The
Footwear
producers have thrived since the second quarter, and see increasing export
orders from now to the year-end, Lefaso said.
According
to the association, if successfully negotiated, the Trans-Pacific Partnership
(TPP) would bring about opportunities for the Vietnamese leather and footwear
industry to penetrate a large market.
The
association added that
This
would help Vietnamese shoe enterprises to increase their competitiveness over
other major shoe exporters that were not TPP members.
However,
the association said the TPP would also bring about challenges for
Domestic
businesses have a low localisation rate of 40 per cent, as the industry
depends highly on imported materials.
The
Ministry of Industry and Trade encouraged footwear businesses to increase
their investment in material production and modern and environmentally
friendly technologies.
Bac
Ninh reports fall in revenue
The
northern
The
Bac Ninh Department of Taxation said tax collection from import-export
activities reached VND1.680 trillion ($80 million) in the first six months of
this year, making up 33.6 per cent of what was projected for the year, 87.7
per cent up on a year ago.
The
revenue decline was largely attributed to the sharp reduction in
import-export activities, particularly after Samsung Electronics Vietnam
(SEV) and Samsung SDI Vietnam Co (a research and investing information
company) was permitted to turn into an export processing company instead of
an foreign-invested enterprise.
As a
result, tax collection from import-export items of these two companies
reduced by VND226 billion ($10.76 million) per quarter, according to a
provincial report signed by Luong Thanh, deputy chairman of the provincial
people's committee.
According
to the provincial customs statistics, in the first two months of last year,
SEV paid VND80.4 billion ($3.82 million) in tax while Samsung SDI Vietnam
paid VND80 billion ($3.8 million) and in the first two months of this year
tax collection was VND3.2 billion ($152,000) only. The reason was largely due
to the change in SEV and Samsung SDI in September last year.
Once
becoming a processing export companies they were tax free.
The
report said that in the remaining months, the provincial customs would deal
with difficulties in collecting taxes and fees. It predicted it would collect
about VND3.8 trillion ($180 million) this year.
The
provincial domestic revenue was estimated to reach VND3.1 trillion ($147
million), representing 53 per cent of what was projected, a year-on-year rise
of 50 per cent.
Of
this figure, the foreign invested sector would contribute VND1.12 trillion
($53.3 million) making up 62 per cent of what was targeted.
Previously,
unlike many other provinces and cities, northern
Savills
to open regional base
Property
services provider Savills has announced further expansion of its South East
Asia operations with the establishment of a new real estate consultancy in
the region, and the move will be spearheaded by the company's
Savills
Viet
According
to the company,
Over
the last year, office rents there have risen by 80 per cent, five-star hotel
room rates have increased 70 per cent, serviced apartment rents have grown by
half and quality retail has gone up 10 per cent.
Currently,
there are two house designs for land measuring 5-metres wide and 20-metres
long.
Local
residents can download the designs at www.sxd.danang.gov.vn.
Japanese
firm to manage plaza
The
Toan Thinh Phat Architecture Investment Construction Joint Stock Company
began construction Pegasus Plaza in 2011 with total capital of VND700 billion
($33.34 million).
The
20-floor building was expected to be completed in November.
Many
fish die after heavy rain
Tonnes
of fish in
By the
end of the next day, not only the fish on the farms of 10 local families
died, but also fish in streams died and were seen floating on the water.
Families
in the area started to get into the fish-raising business years ago,
attracted by potentially high profits. They had spent everything on the fish
farm and now it's all been washed away.
Tran
Ba Bien, a farmer in
A fish
flour processing company, and several households that earn their livings from
steaming and drying fish are located along the river.
Vice-Chairman
of Hai Thanh Commune People's Committee said they have sent officials to
assess the damage and will report the losses to the district authorities.
Meanwhile
local farmers are waiting for a reasonable explanation for the sudden death
of so many fish.
Government
bonds sold for 325 billion VND
The
State Treasury mobilised 325 billion VND in Government bonds through a tender
organised by the Hanoi Stock Exchange (HNX) on July 29.
The
HNX put forward Govt. bonds worth 4 trillion VND in total for tender on the
day. They included bonds of two-, three-, five- and ten-year terms.
The
mobilised funds include 200 billion VND in two-year bonds with an annual
interest rate of 7.28 percent, 125 billion VND in ten-year bonds with the
annual interest rate of 8.9 percent.
Since
the beginning of this year, the State Treasury has mobilised over 104
trillion VND in Govt. bonds via tender.
The
Viet Nam Food Association has sought more time to buy 1 million tonnes of
rice for the temporary reserve, saying heavy rains in the Cuu Long (
The
Government had set a deadline on July 31, and the association wants two more
weeks.
The
programme began on June 15, and food companies have managed to buy only 60-70
per cent of their allotted quotas.
They
said they cannot find enough paddy to buy since the delta harvest has been
prevented by the rains.
According
to the Cultivation Department, around 700,000ha out of the 1.68 million
hectares of summer-autumn rice are yet to be harvested.
Rice
prices in the domestic market have risen significantly in recent days.
Currently
traders buy paddy at VND5,600-5,700 per kilo for long-grain varieties and
VND5,300-5,400 for IR50404, up around VND500 from a month ago.
Rice
export prices have also gone up recently, the VFA said, adding that exporters
have been selling 5 per cent broken rice at US$405 a tonne.
The
VFA has also raised the floor price for 25 per cent broken rice by $10 a
tonne to $375.
As of
July 18 businesses had exported 3.73 million tonnes for a free-on-board value
of $1.6 billion.
In a
recent meeting, VFA chairman Truong Thanh Phong assured that the export
situation would improve in the coming months, and advised firms not to be in
a rush to sell, thus undercutting each other.
With
advantages like competitive prices and fresh rice,
Coffee
prices fall on
Coffee
prices fell sharply at the beginning of last week after rumours of a frost in
On the
NYSE Liffe robusta futures exchange in
In the
week ending on July 19, coffee prices had risen by $93 per tonne to close at
$1,968 following rumours of an imminent cold frost in
At
this time every year world coffee markets become jittery amid fears global
production could be hit if temperatures plummet.
The
prices "defrosted" on futures exchanges and domestic markets after
a Brazilian meteorologist reported very slight frost in areas in
The
Brazilian Ministry of Agriculture forecast output to reach 48.6 million bags
[of 60 kilogrammes each] in the 2013-14 marketing season.
In a
poll by Reuters, 32 coffee market players and experts forecast
"The
world has more than enough coffee when the market players estimated a coffee
surplus of about 3 million bags including 500,000 bags of robusta coffee,"
Anh cited a recent poll survey by Reuters as saying.
In
"Offers
of exportable coffee are very thin and expensive, at $80 per tonne over the
benchmark of
On the
other hand, unsold coffee stocks are in strong hands though bought at high
prices, so they do not want to sell at the moment.
"Many
coffee stock holders are waiting for another rumour about Brazilian frost,
which could push their coffee value higher," a major exporter based in
"The
rumours about Brazilian frost made the coffee price in the domestic market
hot. But, at the current level of around VND40,000 per kilo, it is turning to
‘freezing' point."
The
Ministry of Agriculture and Rural Development estimated recently that
But in
the 10 months since the coffee marketing season began last October, exports
are estimated at 1.27 million tonnes, much less than the 1.38 million tonnes
a year earlier.
"The
realistic demand for Vietnamese robusta coffee from international roasters is
125,000 to 135,000 tonnes per month," Anh explained.
"If
we follow
"The
estimates by USDA and Reuters are seemingly more realistic," an exporter
based in
By
July 22, robusta coffee stocks certified by the NYSE Liffe exchange in
A
coffee is approved by the exchange when it satisfies all requirements related
to quality stated in the futures contract.
A
trader can sell to the exchange only when its coffee has been certified.
A
grade 2 certification, normally better than the grade 2.5 per cent black and
broken beans that Vietnamese exporters often sell, can only be sold at $30
per tonne below the exchange's benchmark price.
The
current offer of
This
explains why coffee buyers have chosen spot coffee in European warehouses
instead of sourcing from origin, including
Indonesian
firm plans to invest in VN power stations
PTBA's
President Milawarma said the company had sold 500,000 tonnes of coal to
PTBA
had seen an opportunity to export our coal, as well as investing in
The
central
"The
province is seeking for resources that could utilise local potential for its
development," said Phan Ngoc Tho, deputy chairman of the province
People's Committee during an online forum held last week.
Tho
pledged incentives and easier procedures for investors who now register in
the province.
The
local authorities are in need of investors for projects manufacturing solar
batteries and high-class glass in Phong Dien District, where the white sand
gives the area a lot of potential.
In
Huong Tra District, projects in forestation, cultivating herbal plants,
processing agricultural products, nurturing seedlings and animal husbandry
are top of the list of investment appeal.
The
provincial Department of Planning and Investment said it would give investors
quick access to water, power and road traffic and lease costs and taxation
would be offered at the maximum rate for incentives regulated by the central
government.
At the
Chan May - Lang Co economic zone, which utilises Chan May's deep water port,
exemptions of 50 per cent of corporate tax could be applied to projects
involved in the development of the ports infrastructure, automobile assembly,
the logistics industry and high-end resorts.
The
province also has five industrial parks, including Phong Dien, Phu Bai, Tu
Ha, Phu Da and Quang Vinh.
According
to Tho, by 2013, the province had granted investment licences to 75 foreign
projects with a total capital of US$2 billion. Domestic investors are also
carrying out 255 projects at a total cost of $1.4 billion.
Earlier
investors, including the Hue Brewery Company, the SCAVI textiles company,
Laguna Resort and Luks Cement, are currently doing well in the province
thanks to the local preferential business environment.
New
technologies to be exhibited in HCM City
An
international exhibition on plastics, rubber, packaging, printing, food
technologies and automation will be held in HCM City from September 3-6 at
the Sai Gon Exhibition and Convention Centre.
It
will offer local manufacturers an excellent opportunity to source suitable
materials for their operations.
Advanced
technologies and services will be on display at the exhibition, looking for
interested parties and ways of penetrating the Vietnamese market.
There
will be numerous associated events taking place and 460 stands will represent
over 260 companies from 15 countries and territories across the world.
The
exhibition has been co-organised by the Viet Nam National Trade Fair and
Advertising Company VINEXAD, the Taiwanese company Chan Chao International,
the Yorkers Trade & Marketing Service Company from Hong Kong, the Paper
Communication Exhibition Services Company also from Hong Kong, the Viet Nam
Plastics Association (VPA) and the Viet Nam Rubber Association (VRA).
Foreign
owner spurs progress on slow $70m ParkCity project
The
long-delayed ParkCity Hanoi residential project has seen dynamic progress in
the six months since the foreign investor of the joint venture bought out its
Vietnamese partner.
An
insider in the Malaysian-owned Perdana ParkCity, which is now in the total
control of the project, explained that their first move was to replace the
projects subsiding foundations.
“To
correct this, the company invested another $7 million,” the source added.
The
sinking foundations were a major cause of friction between the partners, who
could not agree on a solution.
ParkCity
is a 77 hectare property located at the intersection of Le Trong Tan and Le
Van Luong streets in western Hanoi.
The
project will comprise of suburban homes and apartment blocks, shopping
centre, park, sports facilities, and an international school. In the first
and second phases, Park City plans to complete around 1,200 villas,
semi-detached houses, and high-rise apartments.
The
first lowrise residential area – the Ngoc Lan suburb – is undergoing its
initial building stage with plans to complete the structures by October, with
them likely to be handed over to customers during the second quarter of 2014.
ParkCity
Hanoi and its contractor Ecoba Vietnam held a ground-breaking ceremony last
month for the Hoang Lan suburb, the project’s second neighbourhood.
Hoang
Lan will be a guarded and gated neighbourhood consisting of 144 townhouses
and 16 semi-detached villas.
In
early 2013, Perdana ParkCity announced it had completed its acquisition of 40
per cent of Vietnam International Township Development JSC (VIDC) from the
former partner Vinaconex Hoang Thanh, officially ending the 60-40 partnership
that began in 2009.
VIDC’s
CEO Lawrence Peh commented that the acquisition was vital to moving the
project forward and noted the company’s track record and financial strength.
Perdana
ParkCity is the property development subsidiary of Samling Group, a Malaysian
timber conglomerate.
The
company has another project, Marina ParkCity in East Malaysia and flagship
project Desa ParkCity in Malaysian capital Kuala Lumpur.
Once
completed, Desa ParkCity will include 7,000 homes with a population of
roughly 35,000 and a 17.4 hectare town centre with around 300,000 square
metres of commercial space.
Yaw
Chee Siew, chairman of Perdana ParkCity, was recently voted Malaysian
Property Man of the Year for his exceptional vision and achievements.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Năm, 1 tháng 8, 2013
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