|
BUSINESS
IN BRIEF 16/4
Two
Vietnamese trademarks enjoy
The US State Patent
and Trademark Office has granted a certificate of monopoly protection for two
Vietnamese trademarks “Cho Dao fragrant rice" and "Chau Thanh-Long
An dragon fruit ".
This certificate is
valid for 10 years, said Long An provincial Department of Science and
Technology Director Mai Van Nhieu.
Trademark
protection is guaranteed based on three fundamental rights: the right to
prohibit act of any use of production facilities of the same business line in
a protected territory; the right to transfer the rights of use to any partner
in the country; and the right to request legal enforcement agencies to
protect their trademark if any one violates the copyright.
The Mekong Delta
province of Long An province is planning cultivation areas for “ Cho Dao
fragrant rice and "Chau Thanh-Long An dragon fruit” specialty, building
and guiding the production process according to the criteria specified for
each type of crop and supplying and ensuring the quality of seed and plant
protection.
In addition, Long
An has stepped up communication on its specialty items, promoted trade
activities to seek outlets for these products at home and abroad and maintain
the validity of monopoly protection certificates in the US and foreign
countries in general.
The locality has
also provided legal aid for cooperatives with protected trademarks, provided
information on trade technical barriers and selected intellectual property
representatives from abroad to deal with disputes arising from exporting
goods.
Due to the limited
fragrant rice growing area, the province’s rice output is very small, only
about 1,500 tons per year. The specialty rice smells delicious and
fragrant.
Currently ChauThanh
district has nearly 2,200 hectares for growing dragon fruit with an annual
output of over 30,000 tons.
Over the past few
years, Long An has intensified communication to raise awareness of dragon
fruit growers about safety for the production process subject to the Vietnam
Agriculture Practice (VietGAP) and Global Agriculture Practice (GbobalGAP)
standards to ensure export quality.
The plan focuses on
stepping up its connection with surrounding localities as well as the
inter-disciplinary and inter-regional collaboration for the city’s fast and
sustainable growth.
Under the plan, the
country’s biggest economic hub will strive to become a multi-functioning
economic, social and cultural centre with modern infrastructure system by
2020. It plans to develop facilities for the education and training,
science-technology, healthcare, and sports sectors in accordance with
national and regional standards up until 2030.
The city targets
GDP growth ranging from 10-10.5 percent between 2011 and 2015, 9.5-10 percent
in the 2016-2020 period and 8.5-9 percent in the five subsequent years. The
GDP per capita will reach US$8,430-8,822 by 2020.
In the short term,
the city will give priority to upgrading the local infrastructure system and
raising its climate change adaptability.
It will also
concentrate on developing advantageous fields and fostering economic
restructuring with focal points placed on the service, industrial and
agricultural sectors.
Especially,
services related to banking-finance, trade, logistics, post and
telecommunication, information and technology and property will be boosted in
the reviewed periods.
Regarding industry,
emphasis will be placed on developing mechanical engineering, foodstuffs, and
pharmaceutical chemistry and rubber, in addition to clean and energy-saving
technologies and support industry.
Real estate
sector ranks second in FDI attraction
With Sun Wah
involved in a major residential project in
According to the
Foreign Investment Agency (FIA) under the Ministry of Planning and
Investment, a Hong Kong investor invested over US$200 million in the condo
building project in the city, sending investment capital in the sector
rising. FIA did not disclose the name of the investor.
The Daily quoted a
source from the Ho Chi Minh City Department of Planning and Investment as
saying that the project earlier belonged to domestic enterprises under the
name of Bay Water Co. Ltd. Then, British Virgin Islands-registered Sun Wah
Vietnam Real Estate Limited made a huge contribution to the project, turning
it into a foreign-invested concern.
A reliable source
told the Daily that Bay Water now has three partners – Construction Joint
Stock Company No.5 with a 26% stake, Sa To Investment Co. Ltd. with 26% and
Sun Wah Vietnam Real Estate Limited with 48%.
In the first
quarter, the nation approved five FDI projects in the real estate sector with
the total registered capital amounting to over US$288 million. The figure
made up 8.6% of total pledged FDI capital, ranking second among the sectors
with FDI involvement.
Meanwhile, the
manufacturing and processing sector came in first with 141 projects worth 2.3
billion USD, or 70% of the total FDI capital.
Vietnamese,
Russian businesses boost economic cooperation
Representatives
from Russian businesses operating in the field technological renovation paid
a working visit to
The visit is part
of the long-term project “Russia-Vietnam: emerging economies” which was
implemented since April 2012 under the sponsorship of the State Duma of
Russia.
Project manager,
Strozaeva Lubov Viktorovna said economic, trade and technological cooperation
between
Apart from carrying
out major projects of small and medium-sized enterprises (SMEs) from both
nations, Vietnam-Russia technological cooperation at the government level has
been enhanced.
The projects
underway in
The Russian
delegation will introduce Vietnamese partners to areas such as food industry,
the environment, information technology in energy, medical equipment production
and have bilateral and multilateral meetings with Vietnamese senior
officials.
Int’l
seminar sheds light on business opportunities
An international
seminar was held in Thua Thien Hue on April 14, to boost trade promotion and
introduce investment opportunities in the central province.
The event, which
was part of the 2014 National Trade Promotion Pgoramme, was attended by
leading economists, representatives from businesses and agencies, and
ambassadors of
Participants spoke
highly of businesses’ role in achieving a rapid sustainable economic growth.
Thua Thien Hue province should help local businesses utilize advantages and
effectively integrate into the global economy.
They exchanged
opinions on world economy forecasts in 2014-2015 and issues related to the
integration process.
The diplomats
focused their discussions on infrastructure development, support industries
and tourism, as well as measures to create close links among businesses.
Officials from Thua
Thien Hue province also took the opportunity to introduce incentive policies
and voice support for investors.
Vice Chairman of
the provincial People’s Committee, Phan Ngoc Tho said his province ranked
second among 63 provinces and cities across the country in terms of the
provincial competitiveness index (PCI) last year.
The province’s GDP
rose by 7.57% in the first quarter of this year despite low purchasing power.
It is expected to record a 9% economic growth rate in 2014 and generate jobs
for 16,000 workers.
The information was
revealed at an April 14 seminar discussing ways to strengthen economic and
trade cooperation between
At the seminar,
Deputy PM Pham Binh Minh spoke highly of economic and trade cooperation which
have played a crucial role in the comprehensive relations between Vietnam and
China.
The seminar gave
both sides a good chance to connect and strengthen trade exchange and mutual
understanding between the business communities and bolster cooperation in
economics, trade and investment between
The Vietnamese
leader also emphasised that despite the global economic downturn, two-way
trade turnover saw an average growth rate of nearly 30% per year over the
last decade.
Deputy
Minister of Industry and Trade, Nguyen Cam Tu also appreciated potential,
cooperative advantages in the field of economics, trade and investment
between
Until February
2014, bilateral trade turnover was US$1.7 billion including US$720 million
from Vietnamese exports to
Hu Chunhua,
Politburo member and Secretary of the
During the event,
Leaders witnessed
the signing of cooperative agreements and contracts valued at over US$200
million in the field of farm produce, electronics, telecommunications, and
training.
Rice
exports earn high revenue
From January 1 to
April 10, 2014
According to the
Vietnam Food Association (VFA), in the first ten days of April alone, more
than 108,900 tonnes were exported, reaping US$50.956 million.
At present, paddy
prices in the Mekong Delta region –
The price of
5%-broken rice is estimated at VND6,700 – 6,800/kg, while 25%-broken rice is
traded at VND6,500 – 6,600/kg.
VND25
billion for promotion programme
The Ministry of Industry
and Trade (MoIT) has passed a package of VND25.21 billion (US$ 1.2 million)
for second phase of the national trade promotion programme in 2014, the
Government news portal reported.
The credit will
assist trade promotion activities to develop market, export products and
trade information in both domestic and foreign markets, heighten competence
for enterprises and bring made-in-Vietnam products to urban, mountainous and
border areas.
Trade promotion
activities will focus on organising expos to advertise promising sectors such
as food processing, aquaculture and agricultural products to both traditional
and potential markets such as the
The programme will
prioritise domestic trade promotion activities especially establishing a
distribution channel in rural, mountainous, border and disadvantageous areas.
Specifically, the
programme supports six regional fairs and 128 projects which bring Vietnamese
products to remote areas.
Earlier, the
previous national promotion programme in 2013 attracted over 6,000
enterprises with 572 signed contracts worth over US$1.4 billion and over 1.8
million of visitors.
SBV
circular sets restrictions for credit institution ‘families'
The total credit
limit granted to founding shareholders, major shareholders, family members
and related parties must not exceed 5 per cent of the charter capital of a
credit institution.
This is stated in
the draft of a new circular issued by the State Bank of
Credit limit for
major shareholders and their family members also must not exceed their
face-value-based capital contribution to banks.
The draft also
restricts credit institutions from granting privileged loans without
collaterals to auditing companies, auditors, chef accountants and major
shareholders.
Such loans can also
not be granted to founding shareholders, subsidiaries, companies or to those
who bear certain relations with banks.
Regarding such
lending plans, credit institutions must report to shareholders, owners and
the central bank.
In another attempt
to solve the illusion of bank capital and improve the transparency of capital
flows, the draft requires credit institutions to report actual charter
capital every six months.
The actual charter
capital is determined after taking out risk provision funds and calculating
all income and spending.
If the value of
actual charter capital is lower than legislative capital, banks must seek
solutions and report to the central bank. If actual charter capital falls
under 80 per cent of legislative capital, the State Bank will apply some
measures to restrict operations of the banks.
In fact,
cross-shareholding issues have complicated the process of restructuring the
vulnerable banking system. The entire system had been on the verge of a
crisis following many years of excessive credit growth and easy lending to
state corporations along with cross-shareholding issues.
Financial reform is
one of the three pillars in a programme of economic restructuring that
VN amends
investment law to boost efficiency
The amended Law on
Investment will have regulations for the strict management of projects with
large amounts of registered capital, according to Deputy Minister of Planning
and Investment Nguyen Chi Dung.
Dung noted that
after eight years of implementing the existing Law on Investment, the law
still has many weak points, including regulations on investment conditions,
procedures, incentives and support, which have not ensured transparency or
fulfilled its potential, reported Dau tu (Vietnam Investment Review)
newspaper.
Moreover, the
existing law has been not yet incorporated
Due to these
limitations, foreign investors do not find the investment environment in
According to
foreign-invested enterprises, legal systems and administrative procedures in
Additionally, the
process of restructuring the economy and changing the model for economic
growth requires the state to establish legal mechanisms and systems for
adopting new policies.
Participants at the
meeting agreed to amend the existing investment law to upgrade administrative
procedures and improve efficiency in the state management of investment
activities.
The amendment of
the investment law is expected to limit situations where unfair advantage can
be taken of gaps in the law to seek profit, including similar situations with
virtual investments.
In fact, the state
offices could not control the real capital that foreign investors put into their
projects. There were some projects that needed capital of US$50 million each,
but investors registered capital of hundreds of millions of US dollars, Dung
noted.
Mai Xuan Hung,
deputy chairman of the National Assembly's Economic Commission, said the
amendment of the law would provide an incentive to enterprises at home and
abroad to increase their investment in production and businesses in
MoIT
approves funding for trade promotion
The Ministry of
Industry and Trade (MoIT) has approved a package of VND25.21 billion, or
about US$1.2 million, for the second phase of the national trade promotion
scheme in 2014.
The Thoi bao ngan
hang (Banking Times) newspaper reported that the package will fund trade
promotion activities to develop markets, export products and trade
information in both domestic and foreign markets, improve the capacities of
the domestic enterprises as well as bring locally made products to rural,
mountainous and border areas.
The trade promotion
activities during the scheme's second phase will focus on organising
exhibitions to advertise promising sectors such as food processing, seafood
and agricultural products in both traditional and potential markets such as
the
Top priority will
also given to establishing a distribution channel in rural, mountainous,
border and disadvantaged areas and in supporting six regional fairs and 128
projects which transport Vietnamese products to remote areas.
More than 6,800
domestic enterprises were helped to participate in trade promotion activities
through the national trade promotion programme in 2013, according to the
MoIT's Department of Trade Promotion.
Over 280,000
commercial transactions were implemented in 2013, with the total value of the
signed deals and memorandums of understanding reaching over $1.4 billion and
$7.7 million respectively.
In addition, the
fair activities hosted by the programme attracted more than 1.8 million
visitors, with the sales revenue exceeding VND380 billion ($17.86 million).
The programme provided remarkable assistance to trade associations and helped
enterprises to expand their market in the country and abroad.
Last year, the
State gave VND70 billion, or approximately $3.3 million, to the programme to
implement support activities for domestic enterprises, it said.
New
land-use fees could thaw property market
Property companies
are urging
During a meeting
last week between the city administration and local property companies,
property investors asked local agencies to change how the fees are assessed.
Under Decree No 69
enacted in 2009, fees are based on the market value of land rather than the
amount that investors have actually paid for it.
Nguyen Xuan Quang,
chairman of the Nam Long Investment Joint Stock Company, said that a foreign
company taking part in a project with Nam Long complained about the lack of
transparency about land-use fees and later withdrew from the housing project.
"Property
investors need to be informed about land-use fees when they prepare projects.
The land-use fees should be paid according to the progress of projects to
ease the project owners' financial burden," Quang said.
"According to
current regulations, real estate developers must pay the land-use fee before
they are granted construction permits. But it always takes a lot of time for
authorised agencies to calculate the land-use fees while the real estate
developers cannot develop their projects without construction permits,"
Le Huu Nghia, director of the Le Thanh Property Company, said.
Nguyen Dinh Tan,
director of the Municipal Taxation Department, agreed with the property
developers and said the payment of land-use fees should be based on how
enterprises sell their property products.
Dao Thi Huong Lan
of the Ministry of Finance said the ministry was preparing a draft decree on
new ways to calculate land-use fees.
At the meeting,
representatives of property firms also complained about the wait of up to
three years to be granted a permit for real estate projects.
Tran Trong Tuan,
director of the city's Department of Construction, said the time needed to
complete procedures for granting a construction permit often lasted 21
months. The maximum wait was 27 months.
In cases that last
longer, it was often because enterprises had made errors when completing the
paperwork, he said.
Tuan said it was
important for the government to simplify administrative procedures, but he
also asked enterprises to study the laws to ensure that they obey them.
On behalf of the
city administration, Nguyen Huu Tin, vice chairman of the municipal People's
Committee, pledged that the city government would quickly adjust regulations
that overlap with rules of other local agencies.
To help the
property recover, the city would also propose that the Government act on
policies that are beyond its jurisdiction, he said.
Around 230 local
enterprises are taking part in the Vietnamese High-Quality Products Fair that
opens today at the Phu Tho Indoor Stadium in
The annual fair
features more than 700 booths displaying garments and textiles, footwear,
handicrafts, food and household-use products, electrical goods and other
items.
Under the theme
"Innovation for Sustainable Development", the six-day fair includes
activities to connect technology-research organisations and enterprises.
In addition,
programmes are being held to connect agricultural and food-specialty
producers with supermarkets and hotels, restaurants and caterers, as well as
enterprises and small traders in traditional markets.
The socio-economic
development plan for the city — and the Southern Focal Economic Zone –
released at a conference yesterday for until 2020 envisages growth of 9.5-10
per cent a year between 2016 and 2020 and 8.5-9 per cent over the next five
years compared with 10-10.5 per cent now.
By 2015 income per
capita will be US$4,856–4,967, nearly double that by 2020, and $13,340–14,285
by 2025.
The city's average
income is 1.5 times that of the nation's.
The region's plans
envisage
The city and
neighbouring provinces like Dong Nai, Binh Duong, and Ba Ria – Vung Tau would
provide the impetus for the development of other localities across the
country, he said.
The master plans
would become important legal frameworks for the city and the zone to enter a
new era of development, that of industrialisation and modernisation, he said.
The city would
co-operate with other localities for sustainable development, and give
priority to infrastructure development and response to climate change, he
said.
It would focus on
its strengths like knowledge economy, and its economy would get a rapid
makeover into a services-based one, he said.
Under the proposed
model, the focus will be one nine groups of services — finance – banking -
credit – insurance; commerce; transport; logistics; port; post and
telecommunications; information technology and communications; and real
estate.
In the industrial
sector the focus will be on engineering; electronics - information
technology; food processing; and pharmaceutical chemicals – rubber.
There will also be
focus on bio-technology, clean energy, and energy efficiency along with the
development of high-tech parks and supporting industries.
At a working
session with the National Financial Supervision Committee on April 14, Vice
Chairman of the municipal People’s Committee Hua Ngoc Thuan reported that the
city’s GDP growth in the first three months of the year was estimated to
expand by 7.7 percent on a year-on-year basis.
He added that the
city’s consumer price index (CPI) in the reviewed period rose slightly by
0.18 percent from last December and 1.15 percent on year thanks to the
effectiveness of the price stabilisation programme.
The city’s budget
collection reached nearly 60 trillion VND (2.82 billion USD), up 17 percent
on year. Worthy of note is a surge of 9.05 percent in the economic sector’s
contribution to the local budget, indicating business rebound in the city.
To maintain its
economic growth in the coming time,
On the day, the
city has announced its master plan for socio-economic development through
2020, with a vision towards 2025.
It targets a GDP
growth ranging from 10-10.5 percent between 2011 and 2015, 9.5-10 percent in
the 2016-2020 period and 8.5-9 percent in the five subsequent years. The GDP
per capita will reach 8,430-8,822 USD by 2020.
Long An
rice, dragon fruit certified in US
Chau Thanh dragon
fruit and Cho Dao fragrant rice from the Mekong Delta province of Long An
have received certified trademarks from the United States Patent and
Trademarks Office (USTPO), an official has said.
According to Mai
Van Nhieu, Director of the provincial Department of Science and Technology,
the certificates will be valid for 10 years.
The trademark
protection certificates will ensure three rights for their holders. They will
prohibit any production units with the same business line in the country
using the trademark; have the right to transfer the rights use to any partner
in the country; and have the right to request legal enforcement agencies to
protect their trademark if any one violates the copyright.
Cho Dao hamlet in
My Le commune, Can Duoc district - the only area in the province that can
cultivate the fragrant rice - has 500 hectares of farmland. It produces over
1,500 tonnes of rice per year.
Meanwhile, Chau
Thanh district has nearly 2,200 hectares of dragon fruit cultivation, with
the average annual output of over 30,000 tonnes. Dragon fruit growers in the
locality recently have applied production process following the Vietnam
Agriculture Practice (VietGAP) and Global Agriculture Practice (GbobalGAP)
standards to ensure the quality of its products for export.
Long An province is
intensifying its introduction of local specialities and trade promotion to
seek more markets for its products both in and outside the country.
It is also paying
attention in maintaining the extension of trademark protection certificates
abroad and in the
High-end
apartment sales get liquidity boost
High-end apartments
have enjoyed good sales despite not being targeted by the government’s real
estate stimulus package, the Vietnam Investment Review (VIR) reported on
April 14.
The paper quoted
CBRE Vietnam as saying that high-end apartments worth more than 30 million
VND (1,400 USD) per square metre were showing improved liquidity.
A CBRE quarterly
report claimed the market had shown more activity than normal despite the
traditionally post-lunar new year period.
Meanwhile Ngo Thi
Huong Giang, senior manager of Research and Consultancy at Savills
“High-end projects
are trying to woo customers.
The Ministry of
Construction reported that in the first two months of this year,
In reality, the
improvement of high-end apartment sales began at the end of last year.
Good sales have
also been seen at
At Indochina Plaza
Hanoi, 11 units were sold in the first quarter of this year, despite the
price tag of 51 million VND (2,400 USD) per square metre. This project
attracted customers because of its special buy-to-lease deal with the
commitment of a turnover of 400 million VND (18,786 USD) per year per unit,
or from 7 to 8 percent of return on investment annually.
Indochina Plaza
Hanoi has only 29 unsold units while Thang Long Number One and Mandarin
Garden claim only 10 percent of their units are left for sale and these were
units over 100 square metre each.
According to CBRE
Vietnam’s executive director Richard Leech, good brands and almost finished
products were unsurprisingly popular choices.
Due to the
limitation of high-rise buildings in the centre of the city, during the last
year, only D.’ Le Pont D’or - Hoang Cau high-end apartment project began
construction.
Excluding major
projects such as
Due to the limited
supply, projects owners are maintaining high prices. The
According to Pham
Thanh Hung, deputy chaiman of Cen Group, the price of high-end apartments had
been maintained in city centre locations such as Ba Dinh, Hoan Kiem, Dong Da
and Hai Ba Trung districts thanks to many customers wanting to benefit from
good infrastructure facilities despite the limited housing stock.
This requirement
meant that despite the available properties in further flung districts such
as Ha Dong, Tu Liem and Hoang Mai, their location would act against them due
to poorer quality services and local infrastructure in their localities.
In addition,
FTAs raise
hope for increased exports to Europe
Deputy Head of the
European Market Department under the Ministry of Industry and Trade Duong
Hoang Minh said that exports to the European market would recover rapidly
after three free trade agreements (FTAs) between
Statistics from the
Ministry of Industry and Trade showed that exports to Europe reached 6.06 billion
USD in the first quarter of this year, an only 7.1 percent increase from a
year ago, compared with 28.5 percent for Vietnamese exports to Oceania, 25.3
percent to
Duong Hoang Minh said
slow economic recovery in
He also said that
exports to
Specifically, after
the FTA with the Customs Union of Russia,
Similarly,
In addition, with
the presence of global leading groups in
After the
Vietnam-EU FTA takes effect, more than 90 percent of Vietnamese exports to
the EU would pay zero percent taxes. Trade between
Duong Hoang Minh
said that in the short run the Ministry of Industry and Trade would get
together with local departments of industry and trade to speak about
advantages and disadvantages for exports to Europe in order for businesses to
make the most of the concluded FTAs which are expected to motivate trade
between Vietnam and European countries this year and in the future.
Automated
customs system implemented in Dong Nai
An e-customs system
which is able to deal with declarations within three seconds was carried out
at the Bien Hoa customs department in the southern
The Vietnam Automated
Cargo and Port Consolidated System/Vietnam Customs Information System
(VNACCS/VCIS), the first of its kind implemented in the province, aims to
realise the development strategy in the field to 2020 and the plan reforming
and modernising customs between 2011 and 2015.
Once operational,
the system will better the automated tax calculating function, shorten
procedure times and enhance links between ministries and departments.
After a three-month
trial period starting on November 15, 2013, up to 18,196 enterprises
nationwide have registered to join the system, and 10,154 have run it on a
trial basis.
VNACCS/VCIS, worth
nearly 2.7 billion JPY (21.2 million USD) funded by the Japanese Government,
is scheduled to be fully applied across
As of April 23, the
provincial customs departments of Long Thanh, Nhon Trach, Binh Thuan, Long
Binh Tan, Thong Nhat and the Long Binh processing zone will put the system
into use.
The Customs of
Vietnam under the Ministry of Finance started applying this system at
departments in
Southern
regions hope fruit can bring sweet success
The Ministry of
Agriculture and Rural Development plans to zone off an additional 257,000 ha
of land in the south for growing fruits that are expected to meet food safety
standards.
Half of the
harvested fruit will be labelled with the Good Agricultural Practices (GAP)
standard from now to 2020, according to the Southern Fruit Research Institute
(SOFRI).
Local farmers will
develop 12 fruit trees: dragon fruit, mango, rambutan, durian, star apple,
grapefruit, longan, banana, pineapple, orange, custard-apple and mandarin in
the Mekong Delta and the Southeastern regions.
They are striving
to earn 150 million VND per ha per year.
Scientific agencies
under the ministry were asked to provide growers with modern farming
techniques and instruct them to select good varieties to ensure stable and
high-yield output for domestic and foreign consumption.
The ministry has
also organised a trade promotion programme for exported fruits and
implemented the Sanitary and Phytosanitary Agreement (SPS) of the World Trade
Organisation (WTO) to secure links with major traditional markets and expand
new ones.
Localities in the
zoned-off regions have also worked together to improve infrastructure and
specify policies to develop fruit production.
The southern region
boasts 415,800 ha of land for fruit cultivation, producing around 4.3 million
tonnes per year, accounting for 53.2 percent and 57 percent of the country’s
area and output, respectively.
Conference
discusses Thua Thien-Hue’s support to businesses
The central
Domestic and
foreign economic specialists made the suggestion at a conference in the
province on April 14, aiming to enable the locality to adjust its investment
mechanisms and policies as well as measures on supporting its investors.
They added that the
locality should heighten the role of businesses and consider their
development as a boost to the province’s fast and sustainable growth in the
coming time.
Participants also
discussed reports presented by some ambassadors and consuls general to
Vice Chairman of
the provincial People’s Committee Phan Ngoc Tho declared his province has
seen a stable growth while the local firms’ business and production have
recovered.
In spite of a lack
of key products and decreased purchasing power, the province’s GDP growth in
the first quarter of this year was estimated to see a year-on-year surge of
7.57 percent, noted Tho.
This year, the
province targets of a 9-percent GDP growth, granting business permits to
around 600 enterprises and generating jobs for some 16,000 labourers.
Investors
express confidence in
Overall economic
picture in 2014 is brighter than previous years, provided economic
restructuring is further accelerated, economist Vu Dinh Anh told the Voice of
Vietnam (VOV). The national economy grew at a rate of more than 5.4% in 2013.
Excess inventory and bad debts were reduced.
Macroeconomic
stabilisation and inflation control in 2013 will facilitate economic growth
in 2014 and subsequent years, said the VOV.
Economic
restructuring helps fuel investment growth. Economist Vu Dinh Anh also said
building an equitable investment environment is absolutely crucial to attract
investment flow.
He noted that
foreign investors would like to see
According to a
recent study released by the Vietnam Chamber of Commerce and Industry (VCCI),
Vietnamese and foreign investors have renewed confidence in the Vietnamese
economy’s mid and long-term prospects.
60 percent of 500
leading Vietnamese businesses reported their 2013’s performances were better
than a year earlier, and 80 percent have plans to expand operations in 2014.
Many major foreign
business groups have similar expansion ambitions. The
Vietnamese,
Russian businesses plan closer bond
The Russian Culture
Centre in
The visit by the
firms – who all operate in technological reform - forms part of a long-term
project “Russia-Vietnam: The new economy” that began in April 2012 under the
sponsorship of the State Duma and the Russian Union of Innovation and
Technology Centres.
Strozaeva Lubov
Viktorovna, the project’s director, said that economic relations between
More and more
projects in
During their stay
in
They will also
attend bilateral and multilateral talks with partners in
Report on
developing enterprises and growth quality
The annual report
of Vietnamese enterprises 2013 is one of the important documents helping
enterprises and policy makers understand clearly the situation of development
of Vietnamese enterprises through the years and on this basis, build the
suitable orientations to serve the development of business in
The report, themed
“Developing enterprises and growth quality” was compiled by Vietnam Chamber of
Commerce and Industry (VCCI) in coordination with the Economic Commission of
the National Assembly and the World Bank (WB).
The report analyses
the development of enterprises from three main angles and these are also
three important pillars deciding the quality of growth of the economy:
economic structure, competitiveness and operational efficiency in different
degrees, namely enterprises, economic area and the whole economy.
In 2014, 50.7% of
enterprises under survey have got the plan of keeping their business scope;
42.5% of enterprises are able to expand their business scope; 6.7% possibly
reduce their business scope and only 0.1% of enterprises is possibly to cease
their operations.
According to the
report, the elements making direct impact on the production and business
situation in 2013 have got the tendency to markedly improve, obtaining 17
points, while this index of 2013 was put at 6 points only. This is the factor
on accessing the technological market, the conditions of communication
infrastructure and the factor on land supply, clearance of floor space for
expansion of production. Especially the element on the utilities of
infrastructure has been much improved as compared of the prediction of
enterprises. However, some elements were predicted to be better in 2013, but
in fact, it was yet to be improved as required by the domestic market and
accessibility of loans.
On the other hand,
the policy and macro operation in 2013 were judged as having been
considerably improved as against 2012 (shown through the index of the whole
legal environment and macro economy in 2013). Enterprises assessed that the
quality of the legal provisions, the efficiency in implementing the policies
and the administrative procedures relating to enterprises, the improvement of
attitude and the sense of responsibility of the officials in power, the
stability of the legal environment and the economic operation have seen a lot
of changes for the better.
With the expansion
of production and business scope, economic prospect is being judged as being
better and
At the ceremony to
make public the report, the VCCI recommended that to develop enterprises and
have growth quality, the State needs to set up the suitable sector and State
economic structure, thus servicing effectively business and developing
competitiveness of each locality and of the country.
To this end, the
main points in restructuring the credit institutions should be carried out
synchronously and consistently with the orientation of restructuring public
investment, the State-owned enterprises and the credit institutions.
On the other hand,
it is necessary to build the institution to encourage and orientate
investment in accordance with the signal of the market, by diversifying
export, expanding the domestic market, forming the supply chain and
establishing the competitive market.
It is also
necessary to increase the scientific and technological content and the volume
of domestic value in products through investment and innovation of
technology, the transfer of knowledge and attraction of FDI; to select a
number of sectors of competitiveness so as to give priority to development,
focusing on development of a number of enterprises with business efficiency
and with the medium and larger sizes; to build favourable and equal
investment environment in the direction of imposing the market discipline on
all the economic sectors and enhance the capacity of the State managerial
apparatus. Besides, it is necessary to develop high-quality human resources.
In terms of
enterprises, it is necessary to pay attention to and make constant update of
the Government’s policies so as to make full use of the support, continue to
implement vigorously the process of restructuring enterprises, enhance the
absorption of investment capital by the business strategy, pay attention to
balancing the money flow, building, reviewing and having the mechanism to
tightly supervising the system of expenditures in the process of production
and business; to enhance the linkage in business, especially enterprises with
the same professions, to raise the capacity of accessibility and expand the
market.-
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Thứ Ba, 15 tháng 4, 2014
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét