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BUSINESS
IN BRIEF 9/4
French
businesses encouraged to invest in Vietnam
Minister of
Planning and Investment Bui Quang Vinh was addressing a meeting of more than
100 leading French businesses in
The new policy will
create plenty of opportunity for French businesses as
infrastructure construction projects using foreign loans have been undertaken
by the State, Vinh said.
In addition, he
said,
Vinh elucidated
that
The country’s
investment environment is much improved thanks to breakthroughs in three key
areas – transparency in development policy, human resource training and
modern transport and energy infrastructure, he said.
Vinh highlighted the
prospect of cooperation between
For her part,
Thierry Courtaigne, Vice President of the French Business Association (Medef)
and managing director of MEDEF International, said
Michel Drobniak,
Economic and Commercial Counsellor of the French Embassy in
At the meeting,
Minister Vinh fielded questions of those in attendance related to
difficulties in bidding and implementing projects, such as building HCM City
Metro route No2,
Earlier Minister
Vinh held talks with Minister of Foreign Affairs Laurent Fabius.
The ministers
agreed economic and trade ties between the two countries remain modest that
should be promoted in the coming itme.
They touched upon
They agreed to
support broader Vietnam-France cooperation in the spirit of frank dialogue
and mutual trust.
WB:
The Vietnamese
economy is expected to grow at a moderate rate of around 5.5 percent this
year, according to the East Asia Pacific Economic Update report released by
the World Bank (WB) at a press conference in
Addressing the
event, Axel van Trotsenburg, WB East Asia and Pacific Regional Vice
President, said
He added that
stronger global growth this year will help the region expand at a relatively
steady pace while adjusting to tighter global financial conditions.
In its report, the
WB forecasts that developing countries in the
The report said
developing
Bert Hofman, Chief
Economist of the WB’s East Asia and Pacific Region, said that over the longer
term, to keep growth high, developing
According to the
report, the regional countries could also benefit from structural reforms,
such as facilitating international trade and promoting foreign direct
investment, especially in the services sector. In this context, the
establishment of the ASEAN Economic Community in 2015 could boost
intra-regional investment and exports and provide an important source of
growth.-
New horizon
for Dong Nai fruit exporters
The southern
This has opened up
numerous opportunities for local businesses and farmers to enhance their
export turnover and enter more potential overseas outlets as long as the
beneficiaries can maintain their cultivation in large areas.
Head of the Suoi
Lon mango cooperative in Xuan Hung commune, Xuan Loc district Nguyen The Bao,
said at the beginning of this year, his cooperative signed a contract to
export mangoes to
Apart from the
major importers of
Meanwhile, the Xuan
Thanh agricultural services cooperative in Long Khanh town has agreed to
supply unlimited amounts of durian and rambutan to Japan’s Aeon supermarket
chain in 2014 under a long-term deal with the Japanese side, said head of the
cooperative Pham Phu Quoc.
In another deal,
the local Long Khanh Fruit Co., Ltd. will ship jackfruit to
Chairman of Vinh
Cuu district People’s Committee Nguyen Huu Ly said provincial authorities
have allowed the Tan Lam Breeding and Forestry Co., Ltd. in Bien Hoa city to
invest in a South America-originated bananas growing project in the district,
which is scheduled to be carried out on an area of 108 ha within 30 years and
export to Japan and China, worth 1,100 USD per tonne.
Many businesses
from the
To meet these
requirements, local authorities have shaped up large-scale areas specialising
in growing such key local products as pepper, coffee, durian, grapefruit and
mango.
They have also
built and realised a number of programmes promoting the trade names of the
aforesaid products between 2011 and 2015, Director of the local Department of
Agriculture and Rural Development Pham Minh Dao said.
According to the
department, producers fetched 219 million USD in the first quarter of 2014
from exports, up 37 percent against the same period last year, with cassava,
vegetables and coffee topping the list.
US opens
wide door for Vietnamese exporters
Ministry of
Industry and Trade statistics show last year’s Vietnamese garment and textile
exports to the
Especially, the
The
The
However, Chris
Griffin said that, the
“All of these
positive signs will offer a good opportunity for Vietnamese businesses to
penetrate the
US manufactures and
retailers are actively searching for ways to reduce their dependence on
He articulated that
For example, at the
Magic-Las Vegas Sourcing fairs in the US, all major American importers were
gathering at the Vietnamese pavilions expressing their viewpoints that
Vietnam has a stable and competitive labour costs compared to other nations.
In addition, Vietnamese exporters are interested in conquering the
Chris Griffin noted
that to expand exports to the US, local businesses should learn more about
market differentiation according to age, style, price and quality and export
goods through different distribution channels-retail, wholesale and agent.
Two potential
distribution channels for Vietnamese businesses are wholesalers which own
strong trademarks and major retail centres.
Ministry of
Industry and Trade representatives suggested Vietnamese businesses should pay
special heed to legal formalities and technical barriers in the
Like Europe, the
Additionally, each
state in the
To enjoy
sustainable exports to the
Promoting
Vietnam-China border trade
The Ministry of
Trade and Industry (MoIT) will introduce new initiatives to improve
Tran Thanh Hai,
Deputy Head of the MoIT’s Import-Export Department made the statement at a
regular press briefing in
Thousands of trucks
carrying watermelon have been lined up on the road to the Tan Thanh border
gate, waiting for customs procedure clearance to
The MoIT is working
closely with the Chinese Embassy and Guangxi province to address farmer
concerns to find satisfactory solutions to all matters hindering border
trade, Hai said.
One of the measures
that has already been implemented to speed up the shipment of watermelons to
China is an extension of the working hours for border personnel until 9-10pm
and other preparatory measures are under consideration and should be given
effect, Hai said.
The MoIT suggested
localities should devise improved measures to regulate the volume of exported
agricultural products to
Controls need to be
put in place to ensure only higher quality watermelons are transported to the
border gate. Further regulations of the first and second grade shipments
should be timed to avoid overloading the border crossing, resulting in
unnecessary and long delays, Hai said.
In the long-term,
Ninh Thuan
to host international wine festival
A three-day
International Grape and Wine festival will be held in
The information was
released by the provincial People’s Committee at a press conference in
The festival is
expected to draw more than 100 booths showcasing products made from grapes of
domestic and foreign wine-producing companies including France, Chile,
Argentina, Australia, Hungary, the US, South Africa, Germany and local
farmers.
Seminars on grape
farming and grape wine processing will be held during the three-day event.
Ninh Thuan province
has the largest acreage under grape cultivation in
Every year it
harvests approximately 15,000 tonnes of grapes and ships more than 10,000
tonnes to provinces and cities across the country.
Gold Coin
feed mill inaugurated in Hai Duong
American Feeds
Company, a wholly US invested company of the Gold Coin Group, inaugurated its
feed mill in Binh Giang district, Hai Duong province, on April 7.
The US$12 million
mill is the 2nd largest of its kind in the north of
Once put into
operation, the factory will meet feed demands of farms in the northern and
central regions of
Addressing the
ceremony, Ian David Glasson, CEO of Gold Coin Group, said that the feed mill
applies advanced technology in the world, with production lines imported from
"The objective
of the company is to supply high quality food, contributing to increasing
productivity and value, and ensuring food safety. The company will exchange
experience on feeding skills and epidemic prevention with farmers," said
David Glasson.
The factory is
expected to create jobs, raise local farmers’ incomes, and improve the
competitiveness of livestock products.
Experts
hone new ODA skills
The oversight and
effective management of official development assistance (ODA) on projects is
vitally important to the socio-economic development of
At a conference on
ODA-funded projects held in
Speakers pointed
out that it is not easy to detect fraud, particularly in the bidding process,
so inspectors need to have a heightened sense of awareness and if there is
any indication of corruption, relevant authorities must be notified and a
complete and thorough investigation undertaken.
Most importantly,
those who have found to violate public trust must be strictly dealt with in
order to deter others.
To raise the ODA
management and supervision capacity in localities, participants, especially
contractors and project managers must be cognizant of their responsibility
and the importance of diligently performing their duties to avoid losses and
misappropriation of ODA funds.
Vietnamese
shrimp to enjoy zero tax rate in Japan
The Japanese daily
Nikkei reported
However,
Japanese seafood
imports hit US$14.4 billion in 2012 and the figure is expected to increase
considerably when the Trans-Pacific Partnership (TPP) agreement is signed.
Exports to
Vietnamese exports
to
During the
two-month period, Vietnamese key export items to
Telephone exports
experienced astonishing growth, nearly doubling in the reviewed period to
US$119.9 million, accounting for over 30% of
Petrol took the lead
in export growth (up 1,193.2% from a year earlier) although its value was
still modest (around US$4.3 million).
With a large
population and stable economic growth,
Lenders'
survey illustrates rise in business confidence
The business
environment of the banking and finance sectors improved in the first three
months of this year compared with last year, according to the State Bank of
Viet Nam.
The central bank
announced this on Thursday, citing its latest quarterly survey of the
business trends of credit institutions and foreign bank branches in
About 53 per cent
of the lenders said that their business situation was currently
"good", up from 29 per cent recorded in the previous survey; while
46.5 per cent said it was "normal". They said they would
concentrate on human resource training and upgradation of technology in the
coming months.
The institutions
said that their customers had revived their financial capacity. With economic
recovery now certain, they anticipated stiff competition among lenders in the
near future.
Most of the lenders
assessed the customers' demand for banking services to be "normal"
or "high". A majority of them predicted that the deposit and
lending interest rates would further ease this year, and 40 per cent said
they planned to reduce service charges.
Almost all of the
lenders said that they had no intention of downsizing staff this year, and
over a third said that they were short of staff and might recruit more
people. Only 7.4 per cent cut down employees in the first quarter.
Most estimated that
they were having "good" liquidity for both dong and foreign
currencies, and hoped to maintain that throughout this year. They expected
deposits and loans to grow at a rate between 10 and 20 per cent in 2014.
The majority of the
credit institutions assessed the risks involved for their customers to be
"normal" and said the risk levels were tending to decline.
But the lenders
remained cautious about the future of the banking sector, as they didn't
anticipate any breakthroughs for an economic rally this year.
The number of
enterprises that stopped operations in the first quarter of this year has
outstripped the number of new start-ups in northern
The department
granted business licenses to 140 newly-established enterprises in the first
quarter, with a combined registered capital of VND440 billion (US$20.95
million). This brought the total number of enterprises in the province to
5,090 units with a total registered capital of VND38.66 trillion ($1.84
billion).
However, more than
180 enterprises were reported to have stopped operations, dissolved or gone
bankrupt in the same period. Around 20 enterprises and branches had their
business licences revoked.
Production also
stagnated due to depressed consumption, discouraging enterprises from taking
out loans to expand production, the department said.
According to the
branch of the State Bank of
Meanwhile, the
department said industrial production in the first quarter had seen a
year-on-year increase of 15.8 per cent to VND8.79 trillion ($418.6 million). Large
enterprises accounting for the biggest slice of production also reported
stable business results, including the Nam Dinh Textile and Garment Joint
Stock Company, Son Nam Textile Joint Stock Company, Song Hong Garment Joint
Stock Company and the Nam Ha Garment Joint Stock Company.
Nguyen Van Tuan,
Chairman of the People's Committee of Nam Dinh, said the province would
streamline administrative procedures, remove barriers to production and
create favourable conditions for loans. He also said the province would give
lending priority to the agriculture and export sectors, the support industry,
small-to-medium enterprises and those using advanced technologies.
The province would
also design policies to attract more investors to industrial zones and
generate support for enterprises to export goods, he said.
Prices of
key export products plunge, pulling down growth
A sharp price
decline in the country's several key export products, including agriculture,
seafood, and minerals, lays heavy on Viet Nam's 10 per cent growth rate
target set this year.
Nguyen Tien Vy, the
head of the Ministry of Industry and Trade's Planning Department elaborated
that the total import-export revenue in March was estimated at US$12 billion,
increasing $2.46 billion over the previous month.
The total
import-export turnover in the first quarter of the year was recorded at
$33.35 billion, posting a 14 per cent year-on-year increase.
Of this figure,
domestic enterprises enjoyed an export turnover of $10.9 billion, increasing
9.8 per cent over the same period last year, while foreign-invested
businesses reported $22.47 billion worth of export turnover.
Vy informed the
press meeting yesterday in Ha Noi that the processing industry made the
highest contribution to the export results, as the group roped in about $23.5
billion, accounting for 71 per cent of the total.
Of this figure,
wood and wooden products saw the highest growth of 23 per cent, following by
garment and textile at 22 per cent, shoes at 26 per cent, phones and spare
parts at 23 per cent.
US remained
However, he pointed
to a fall in prices and the quantity of exports of key staples in the first
quarter of the year.
As per statistics
revealed by the ministry, the export prices of agricultural products,
including coffee, rubber, cassava, and cassava products, reduced 2-25 per
cent due to the bad weather conditions.
He remarked that
the decrease revealed the country's heavy reliance on weather, which was a
limitation in increasing its output.
Vo Van Quyen, the
head of the ministry's Domestic Market Department, reported the low prices of
agricultural and fishery products despite the high output, due to a lack of
association.
Tran Minh Toai, the
deputy director of the southern Can Tho Province's Department of Industry of
Trade shared the same viewpoint, stressing that businesses in the locality
had no information on export markets, and thus faced problems in finding
buyers for their products.
Toai requested the
ministry to start a website focussing on market information to update import
demands on agro-forest and fisheries products.
Deputy Minister Le
Duong Quang urged the relevant agencies to hold timely meetings with
businesses for tackling their difficulties.
Quang emphasised
that the producers should improve their reserve capacity and quality in order
to enhance competitiveness, especially in the case of rice.
Sugar
inventories surge as industry confronts difficulties
Sugar inventories
in the first quarter of this year rose 50 per cent over last year to 600,000
tonnes, while prices at processing plants fell to the lowest level in five
years.
Statistics from the
Ministry of Agriculture and Rural Development showed that by the end of
March, the sugar sector produced 1.17 million tonnes of sugar, about 120,000
tonnes more than during the same period last year.
The ministry
estimated that sugar output this year would reach 1.6 million tonnes, while
domestic consumption would be recorded at 1.4 million tonnes, resulting in
sugar supplies being 200,000 tonnes larger than demand this year.
In addition, as
part of the country's World Trade Organisation's commitment,
Ha Huu Phai, head
of the Viet Nam Sugar and Sugarcane Association (VSSA)'s Ha Noi Branch, was
quoted by Nong Thon Ngay Nay (Countryside Today) as saying that sugar selling
prices have been continuously decreasing, causing difficulties for the
industry.
For instance, sugar
prices at plants were reduced from VND18,000-19,000 (US$0.86-0.90) per kilo
in 2011 to VND14,000-15,000 ($0.67-0.71) per kilo in 2013.
Further, in the
first three months of 2014 sugar prices saw a sharp decline to VND12,000-13,000
($0.57-0.62) per kilo, while illegally imported sugar was selling for only
VND11,000 ($0.52) per kilo. Also, sugar prices on the world market fell from
$800 to $465.9 per tonne.
Phai said slower
consumption and larger stockpiles have caused sugar processing plants to
cease operating, such as Long My Phat Sugarcane Plant in southern
Some large plants,
such as Lam Son Sugar Corporation, also suffered losses. It processed some
12,000 tonnes of sugar in the first quarter of the year, meeting only 10 per
cent of the year's target, while processing 50,000 tonnes in the same period
last year.
Phai said the
Government should allow the sector to export sugar to
The association
forecast that sugar output for the 2013-14 crop in
VSSA proposed to
export 300,000-400,000 tonnes this year, in addition to meeting its export
quota of 200,000 tonnes.
The association
also asked the Government to use funds for reinvestment in the sector by
supporting sugar farmers and developing sugar planting areas.
The association
requested that the ministries of Finance and Industry and Trade apply zero
tax on sugar imports by 2018, instead of 2015 as planned, to help processing
plants set aside more time to prepare for competition from foreign countries.
VSSA estimated that
illegal sugar imports from
Ministry of
Industry and Trade officials, meanwhile, said it would allow an additional
200,000 tonnes of sugar to be exported if the sector fulfilled its current
quota of 200,000 tonnes.
Demand for
organic rice rises in Viet Nam
Organic rice is
increasingly being preferred by many Vietnamese consumers despite its higher
prices, the Tuoi Tre (Youth) newspaper reports.
The rice has become
more popular for several reasons, including clear labels of origin and
production that follows organic standards or national and international
standards like VietGap and GlobalGap.
She says she
prefers the rice because the labels show where and when the rice was planted
and the date of harvest.
Companies are
investing more in organic rice and vegetables, including the Ca Mau-based
Vien Phu Organic and Healthy Foods Joint Stock Corporation, which has
received organic production certificates granted by the US and EU.
Vo Minh Khai,
general director of Vien Phu, said the company initially planned to export
its organic rice to high-end markets but local demand had now surpassed
export orders.
Co May Co Ltd in
There is a QR
(quick response) code on each of the rice packages that tracks the product's
origin, said Nham Ba Phuong, co-founder of Nosavina brand rice.
Consumers are
concerned about quality, he said, but they are paying as much or more
attention to the safety of the rice.
For that reason,
the company invested US$5 million to establish its rice material area and
processing plant that meets HACCP standards, an internationally recognised
method of managing food safety and protecting consumers, he said.
Along with organic
rice, rice that contains high nutrients and other ingredients that can assist
medical treatment is sold on the market.
Apart from white
organic rice, Vien Phu supplies red, purple and black rice, Khai said, noting
that this rice has higher nutrients and minerals than normal rice. The prices
range from VND45,000-75,000 ($2.1-3.5) per kilo.
Similarly, An Giang
Plant Protection Joint Stock Company has introduced to the market Vibigaba
sprouted rice, which can help stabilise blood glucose levels of diabetics.
HCMC's
stable office rents could end soon
The high rate of
occupancy and period of rent stability in the commercial leasing sector in
While the solid
start to 2014 in HCM City has continued into the second quarter, over
50,000sq.m of office space is due to come into the market this year from
three projects in the CBD area and a further 110,000sq.m in the first quarter
of 2015, subverting this stability, it said.
In Ha Noi, more
than 800,000sq.m of office space across all grades is expected to hit the
market in the next two years, keeping a downward pressure on asking rents, it
said.
C&W expects
2014 to be a favourable year for tenants, while landlords will have to suffer
from fierce competition from new supply.
The first quarter
saw opposing trends in the commercial leasing sector in Ha Noi and
Office occupiers in
Ha Noi tended to move west due to the competitive rentals there and large
incentives on offer from developers, while occupiers in
Rents in the two
cities have stopped moving in correlation, he added.
In
Grade A segment
occupancy went up by 3 percentage points from the previous quarter to 91 per
cent, but rents continued downward, decreasing by 1 per cent
quarter-on-quarter to VND987,000 (US$46.8) per square metre per month.
Grade B occupancy
remained unchanged at 91 per cent quarter-on-quarter. While its rents too
remained unchanged from the previous quarter at VND529,800 ($25.1), they were
down by 4 per cent year-on-year.
The total
absorption of both grades stood at nearly 14,000sq.m, including nearly
5,600sq.m for grade A.
In Ha Noi, the
first quarter witnessed the entry of five grade B projects — Eurowindow
Multi-complex, Times City, Song Hong Parkview, Gelex Building, and PV Oil
Building — taking total supply to 723,000sq.m, an increase of 12.1 per cent
quarter-on-quarter.
Grade A stock
remained unchanged at 330,000sq.m.
A 10 percent tax
would be imposed on carbonated soft drinks under a revised draft of the
special consumption tax law released by the Ministry of Finance last Friday,
which would take effect in July 2015.
The ministry cited
several studies that point out the potentially harmful effects of soft drinks
on public health, suggesting that their consumption should be controlled in
the same way as that of cigarettes and alcohol. However, some experts are
vehemently opposed to the tax.
"These
products are popular and consumed in almost all rural areas, so it would be
bad for consumers," said Phan Huu Thang, Director of the Global
Integration Business Consultants, who argued that the move would also hurt
the sugar manufacturing industry, retail distribution system and individual
businesses.
Herb Cochran,
director of AmCham Viet
Special consumption
tax was applied only for luxury products, which served the needs of a small
group of people with high income, and products that had a negative impact on
the environment and people's health, he said.
Nguyen Thi Cuc,
President of the Viet Nam Tax Consultancy Association, said
Tran Kim Chung,
Deputy Director of the Central Institute for Economic Management, estimated
that if the tax was imposed, the Government would collect US$8.4 million, the
beverage industry would lose US$40.5 million, the country's economy would
lose US$12 million and GDP growth could decrease by as much as 0.01 per cent.
Moreover, demand
for non-alcoholic soft drinks would reduce by 28 per cent, he said.
"At the
beginning, tax collecting might increase a bit, but gradually it will go
down," Chung said. "On the flip side, labourers, jobs and suppliers
of sugarcane and other materials will be negatively affected."
Dropping
export prices pose challenge
The average prices
of many key export items such as farm-aquatic produce and minerals are
dropping, posing great challenge to the country in its bid to raise export
value by 10 percent this year, according to the Ministry of Industry and
Trade (MoIT).
Speaking at the
MoIT’s online conference on April 7, Director of the Planning Department
Nguyen Tien Vy said farm produce saw their export prices reduce by between 2
and 24.8 percent in the reviewed period.
Ores and minerals,
including coal, face the same problem, with their prices dropping by as much
as 66.3 percent.
The export volume
of these two groups of products also decreased, resulting in a reduction of
around 390 million USD in their export turnover compared to Quarter 1 last
year.
With the set target
of 145.4 billion USD in export turnover for this year, the country must earn
an average of 12.1 billion USD each month, but the monthly figure for the
first three months stood at only 11.12 billion USD. Therefore, experts urge
more efforts to remove difficulties for exporters if the target is to be met.
At the same time,
the management of import is also under pressure when import is required to be
controlled at under 10 billion USD. However, the import of luxury goods has
surged the first quarter, with a 78.7 percent rise in the import of
under-nine seat cars and a 25.3 percent increase for mobile phones.
Deputy Minister of
Industry and Trade Le Duong Quang asked the ministry’s agencies to keep close
contact with enterprises in order to timely tackle arising problems and
complaints.
Particularly
regarding farm produce, the ministry will work to enhance its capacity of
stockpiling and price management to counter price fluctuation in the world
market.
In addition, the
MoIT asked relevant ministries and sectors to continue giving priority to
farmers in accessing loans to purchase production materials as well as to
enterprises engaging in production for export.
On the macro level,
the negotiations on free trade agreements between
The processing
industry alone earned more than 23.5 billion USD, up 17.6 percent year on
year.
However, crude oil
export revenues dropped by 8.3 percent to 1.7 billion USD, and cassava and
cassava products earned only 367 million USD, a 14.8 percent reduction.
Another staple, rubber suffered from a 39.2 percent drop, bringing home 306
million USD while coal posted an export value of 217 million USD, a 25.4
percent decrease.
Rice exports face tough challenges in Q2
The Vietnam Food
Association (VFA) forecasts rice exports in the second quarter of the year
will continue to face fierce competition from Thai rice and domestic rice
market fluctuations.
Roughly 1.219
million tonnes of rice were shipped in the first quarter of the year,
fetching US$529.777 million (FOB), down 15.41% in volume and 16.9% in value
against the same period last year.
According to the
VFA, exports in March surpassed the set plan but accumulated three-month
exports were much lower than the same period last year due to low
inventories, limited supply, and a relatively high domestic price amid a
declining world price.
Apart from the
Although
Vietnamese rice
shipped to
At a recent meeting
on rice purchase and exports, the VFA said the export price of 5% broken rice
was quite stable in January and early February at US$405-410 per tonne and
then declined to US$390 per tonne in late March.
The fall was
attributed to a low inventory level, short supply, and increased domestic
rice prices, putting Vietnamese rice at a disadvantage on the world market.
The VFA predicts
rice exports in April will face a number of challenges as
Unconfirmed sources
say
Meanwhile, the
Philippines is tendering contracts for 800,000 tonnes of 15% broken rice on
April 15 and both Vietnam and Thailand are expected to submit strong
competitive bids.
To win Philippine
bids, Vietnamese businesses will have to offer lower prices, while they have
yet to predict pricing trends for shipments till August 2014.
Agricultural
experts said that challenges lie ahead for the Vietnamese export market as
the domestic price currently stands at very high level and is going to put
pressure on export prices.
The VFA forecasts
Vietnam will export 700,000 tonnes in April based on signed contracts.
The Ministry of
Agriculture and Rural Development (MARD) said Mekong Delta provinces have
begun harvesting the winter-spring rice crop.
133 businesses have
purchased 349,267 tonnes of rice for stockpiling, meeting 34.93% of the plan.
A MARD working mission will be dispatched to monitor rice purchase for
reserves in the Mekong Delta region this month.
Minh Phu
Seafood Corp aims at 550 mln USD in exports
The Minh Phu
Seafood Corporation of the southernmost province of Ca Mau has set a target
of earning 550 million USD from exports by the end of 2014, following the
optimistic outcomes of the first months of this year.
According to deputy
director Chu Van An, the group posted over 140 million USD in export turnover
at the beginning of this year, the highest ever recorded.
It currently tops
the list of 10 local businesses that have strength in processing aquatic
products. Despite difficulties in the year just gone, the group recorded 520
million USD compared to one billion USD in export turnover of the province.
Its frozen seafood
products are being sold in over 40 countries and territories.
To realise the
target, An said the most important thing is to stabilise the source of
materials for supplying factories.
Local authorities
should plan and develop the shrimp industry in a sustainable manner, while
farmers are advised to select high quality shrimp and avoid using
antibiotics.
The corporation
will continue to focus on upgrading the design and improving the quality of
its aquatic products to ensure their competitiveness in traditional markets
and choosy ones such as Japan , the US and Europe.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Ba, 8 tháng 4, 2014
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