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BUSINESS
IN BRIEF 21/5
Foreign
businesses in
All foreign
businesses in
Taiwanese-invested
Freetrend Company in Linh Trung 2 industrial zone stabilised and restarted
operations to ensure the supply of products under the signed contracts after
two days of civil unrest against China’s illegal actions in the East Sea
Local authorities’ have pledged their commitment to supporting businesses and
addressing difficulties to ensure a safe investment environment.
The HCM City Export
Processing and Industrial Zones Authority (HEPZA) called on business,
particularly foreign ones to strengthen solidarity between employers and
employees to stabilise and develop production, fulfilling targets for 2014.
HEPZA’s Management
Board Head Vu Van Hoa said that businesses should put their faith in the
Vietnamese laws and the State, which have always protected investors’
legitimate interests.
He added that HEPZA
has been authorised by the State to resolve conflict and create a healthy
investment environment for businesses.
SBV warns
against gold, foreign currency purchases
The State Bank of
Vietnam (SBV) has advised the public to be vigilant against rumors circulated
by ill-intentioned elements related to the gold, foreign currency and
monetary markets to avoid incurring losses and doing harm to the economy.
Despite the
escalating situation in the
This demonstrated
public confidence in the way the Government is doing to protect national
independence, sovereignty and territorial integrity, along with maintaining
security and an environment of peace and stability to develop the economy and
to resolve disputes by peaceful means and in compliance with international
law.
The statement was
released as the
However, the
volatility has mainly hit the unofficial market, which accounts for around
10% of the nation’s currency market.
On Friday,
Vietcombank sold the greenback at VND21,175, up VND40 against the previous
day and VND55 from early last week. This is also the record high since last
July.
Other banks quoted
the dollar at VND21,160-21,180 but the price rose to VND21,400-21,500 on the
unofficial market, up VND150-200 from the previous day and VND400 from early
last week.
A leader from the
central bank said that there was no sudden rise in foreign currency demand.
People’s anxiety over the
However, the
central bank would not intervene if dollar prices are still under the ceiling
rate of VND21,246 per U.S. dollar, the leader said.
Pham Linh, deputy
general director of Orient Commercial Bank (OCB), said that foreign currency
demand at the bank had increased mildly as enterprises needed dollars for
imported goods payments. The increase is just minimal.
Meanwhile, the
greenback soared on the black market due to strong demand. Some foreign
currency trading points at Ben Thanh Market in HCMC’s District 1 failed to
serve customers due to a supply shortage.
Nguyen Hoang Minh,
deputy director of SBV’s HCMC branch, said the agency was supervising the
gold and foreign currency markets to have timely stabilization measures.
The SBV in the
statement also said that it has been closely monitoring the situation, and
stands ready to take all necessary measures to maintain monetary, foreign
exchange, and gold markets, as well as to devise appropriate solutions to
ensuring the security and safety of the credit institutions system, and
branches of foreign banks operating in
Calm and caution of
the people will greatly contribute to the country’s socio-economic stability,
SBV said.
According to the
Ministry of Agriculture and Rural Development (MARD), Vietnam earnedUS$13
million from exporting approximately 8,000 tonnes of tea in April,, bringing
total export tea volume to 33,000 tonnes, valued at US$51 million in the
first four months of this year.
The average export
price of Vietnamese tea stood at US$1.541 per tonne in the first quarter of
2014, up, 2.49% against the same period last year.
Although
The Ministry of
Industry and Trade (MoIT) African, West and South Asian Market
Departmentattributed the situation to Vietnam’s poor varieties (mostly black
and green tea), low quality and unattractive design, reducing competitiveness
of these products on the international market.
Construction
of wind farm gets underway in Ninh Thuan province
Construction of the
Cong Hai 1 wind farm began on May 19 in the central
The project has a
total cost of VND1.5 trillion (US$70.5 million), with construction work
carried out by a consortium of three Vietnamese companies.
In the first phase,
with estimated cost of VND191 billion (US$9 million), three Russian-made
turbines will be installed on an area of 20 hectares in Thuan Bac district’s
Cong Hai commune.
Each turbine has a
power of 1 megawatt and is designed to operate at full capacity with average
wind speeds as slow as 7–8 metres per second.
These turbines are
being assembled in
In the second
phase, the wind farm will be expanded to cover over 180 hectares with the
installation of an additional 25 turbines, which can generate 37.5 megawatts.
Ha
The
Chairman of the
provincial People’s Committee Mai Tien Dung made the statement at a working
session with representatives from
The province will
also create the best conditions for the Japanese investors to implement the
projects and consider expanding the cooperation based on the projects’
outcomes, he said.
Highlighting the
province’s strength in land and workforce, Dung said Ha
Therefore, the
province plans to boost cooperation with experienced partners in the field,
especially those from
The Japanese
representatives said they want to introduce their advanced technologies and
quality varieties to Ha
On the occasion,
the foreign companies showed technologies developed to analyse the quality
and detect pesticide residues in some farm produce.
Vietnam
joins TPP Ministerial Meeting in Singapore
A Vietnamese
delegation, led by Deputy Minister of Industry and Trade Tran Quoc Khanh,
attended the Trans-Pacific Partnership (TPP) Ministerial Meeting, which
opened in
In total, 12 TPP
member countries, including Australia, Brunei, Canada, Chile, Japan,
Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam attended
the event.
The agenda focused
on issues related to market access to goods and services, intellectual
property rights, investment, environment, state-owned enterprises, and
financial services.
They concurred that
TPP agreement will deliver economic benefits to all 12 member countries,
which are home to more than 792 million people, and account for nearly 40% of
the world’s GDP and one third of global trade value.
Vietnamese and
Azerbaijani Presidents witnessed the signing of an agreement on double
taxation avoidance between the two countries in
The signatories
were Finance Minister Dinh Tien Dung and
The agreement will
contribute to boosting trade and investment cooperation, creating a clear,
stable and legal tax foundation for
Earlier, Minister
DinhTien Dung attended the crucial talks between President Truong Tan Sang
and his Azerbaijani counterpart Ilham Aliyev.
Despite the fact
that economic and trade ties between Vietnam and Azerbaijan is yet to
commensurate with their full potential, Azerbaijani President’s visit and the
newly signed agreement will provide leverage for wider cooperation,
development and prosperity between the two nations.
The agreement also
marked a new step of development in economic, diplomatic and political
relations between
Binh Duong
reestablishes social order in VSIP
Secretary of the
Binh Duong provincial Party Committee Mai The Trung has provided assurance to
He made the
statement at a working session with Kelvin Teo, co-chairman of VSIP Group on
May 19, addressing issues related to recent incidents in the VSIP, in
connection with
More than 80% of
affected businesses have resumed normal operation, he said adding that all
law-breakers and extremists will be strictly punished in accordance with
existing laws.
Local authorities
are coordinating with businesses to evaluate the extent of property losses
and stabilize production activity, he concluded.
Kelvin Teo highly
in turn said he valued the prompt response taken by provincial leaders,
saying this has consolidated trust of businesses operating in the VSIP.
The same day,
Kelvin Teo worked with Binh Duong provincial People’s Committee Chairman Le
Thanh Cung, with a focus on seeking solutions to ensure security and help
businesses iron out their snags.
Markets to
stock organic goods
Organic vegetables
grown under VietGAP (Good Agricultural Practices) standards will be sold at
traditional markets in
Late last week, the
department met with 17 traditional markets and agricultural co-operatives to
discuss ways to bring VietGap to traditional markets in the city.
VietGap certified
vegetables are usually sold only at supermarkets and through other modern
distribution channels.
At the meeting, Ben
Thanh Market in District 1 was chosen to conduct trial selling of VietGap
vegetables at 32 booths in June and July.
Le Ngoc Dao, the
department's deputy head, said that if the trial at Ben Thanh Market
succeeded, the model would be expanded to 16 other markets.
Under the plan,
each market in the city would have at least one or two stalls selling organic
vegetables this year. The goal is to replace vegetables that have no label of
origin, she added.
Nguyen Cong Thua,
director of the Anh Dao Agriculture Service Company that produces VietGap
vegetables, said that prices would remain the same as other non-organic
vegetables.
The price of
VietGap vegetables at traditional markets, in fact, would be cheaper than the
same vegetables sold in supermarkets because there is no middlemen involved,
thus effectively reducing costs.
Traders at
traditional markets are expected to earn a profit of 10 per cent over cost
when selling VietGAP vegetables.
This year, organic
and VietGAP vegetables have become popular, as shown by sales at supermarkets
and co-operatives.
Pham Dinh Huy, an
official of a company that grows and sells organic vegetables in Go Vap
District, said that in recent years the sales had increased by three times.
Each day, his company's
three stores sell about 50-90kg of organic vegetables. Because of good sales,
his company plans to open five stores by the end of the year.
An owner of a store
in
Last year, Saigon
Co-op signed a co-operation agreement with 16 units that plant VietGap
vegetables and fruit.
After one year,
sales increased by 50 per cent from 60 tonnes to 90 tonnes per day. About 80
per cent of them were VietGAP certified, and another 20 per cent were organic
vegetables and fruits.
A representative of
the supermarket said it would continue to expand its business to support
local companies that plant and distribute organic vegetables.
Local rice
exports make running start to the year
The country
exported 181,000 tonnes of rice in the first half of this month worth
US$79.87 million, lifting the shipment to date this year to 1.932 million
tonnes worth $845.38 million, according to data from the Viet Nam Food
Association (VFA).
The association
stated that the average price for export rice this month reached $441.51 per
tonne, down roughly $21 per tonne against the same period last month.
However, domestic
rice prices were reported to have edged up in the week through May 15, versus
a week ago. In detail, in the Cuu Long (
The UN's Food and
Agriculture Organisation (FAO) has estimated Viet Nam's milled rice exports
to increase to about 7.2 million tonnes this year, up about 8 per cent from
about 6.7 million tonnes last year due to higher production and increased
export demand from Asian countries such as Indonesia, Malaysia, China and the
Philippines backed by low prices.
FAO has estimated
Viet Nam's total paddy rice production at about 44.2 million tonnes (around
27.6 million tonnes of milled rice) in 2014, marginally higher than about 44
million tonnes (around 27.5 million tonnes of milled rice) produced in 2013.
The UN agency, however, forecasts
However, VFA last
week lowered the country's 2014 rice export target to 6.2 million tonnes from
the earlier target of 6.5 – 7 million tonnes due to heavy competition from
Ha Giang
urged to attract investment
Northern Ha Giang
Province needs to improve its investment environment and protect the appropriate
rights of investors, to attract more investment projects, reported Deputy
Prime Minister Nguyen Xuan Phuc.
Speaking at the
investment promotion conference, which aimed to provide a platform for
domestic and foreign enterprises to explore local policies, potential and
opportunities, held in the province late last week, Phuc stated that the
province's difficulties in luring foreign investment included poor transport
infrastructure and human resource quality, low competitiveness and a high
poverty rate of 27 per cent.
However, he
emphasised that the province has great tourism potential with its favourable
climate and soil, natural beauty and diverse cultures, alongside other
agricultural strengths such as medicinal plants, clean-water fisheries and
livestock.
He proposed that
the province should continue to finalise its socio-economic development
planning, boost administrative reform, increase the effectiveness and
efficiency of state management and improve the investment environment.
"The province
also should pay more attention in comprehensively developing human resources
through efficient policies on education, healthcare and culture, moving
towards sustainable poverty alleviation," he added.
The deputy PM asked
the ministries and agencies to support the province in promoting its
infrastructure upgradation, poverty reduction projects, preservation of
unique ethnic cultures and rapid and sustainable socio-economic development.
Chairman of Viet
Nam Chamber of Commerce and Industry Vu Tien Loc agreed, adding that the
province has been ranking low in the Provincial Competitiveness Index for
years. Last year, the rank was 48 out of 63 provinces and cities.
Loc noted that the
province should have solutions to accelerate administrative reforms as well
as business environment.
He suggested the
province to build tourism development strategy, which will focus on Dong Van
Rock Plateau and connect with other provinces in the north-west region.
He said Ha Giang
should also fully tap into its agricultural potential while recommending that
the province focus on improving provincial-level competitiveness and connect
its socio-economic development plan with that of the north-western region, he
noted.
Nguyen Van Son,
provincial People's Committee vice chairman, noted that the province has
always prioritised resources for mobilising investment and will continue to
boost administrative procedure reform in investment activities and the timely
removal of problems faced by investors.
Son claimed that
the province has set up investment promotion counselling centres and an
Official Development Assistance (ODA) mobilisation board, responsible for
attracting ODA from NGOs. It has also introduced a number of incentives on
land use, water and power supplies, while simplifying administrative
procedures.
At the conference,
the provincial People's Committee granted licences to 9 projects, with a
total registered capital of VND3.6 trillion (US$169.2 million).
The committee also
signed six memorandum of understanding on cooperation and investment with
businesses.
Innovation
key to national development
Only innovation and
intensifying application of science-technology can lead to rapid and stable
development of a country, experts told an international business forum in
Andrej Motyl, the
Swiss ambassador to
Motyl said
"
"World
champion companies are cluster producers, a huge challenge for every country
to have some, but it takes decades to have some.
"
Intellectual
property protection is imperative for development, he added.
Dr Giap Van Duong,
founder of massive open online course GiapSchool, said, quoting the
experience of South Korea and Singapore, it is clear that close ties between
enterprises, universities, and research institutes are needed for innovation.
SOE
listings raise $81m in capital
Initial public
offerings of State-owned enterprises (SOEs) have raised a total of VND1.7
trillion (US$80.9 million) so far this year.
From the beginning
of this year to May 14, 25 SOEs had their shares auctioned on the Ha Noi
Stock Exchange while on HCM Stock Exchange, four SOEs were equitised.
Most recently,
The Ministry of
Transport had the most SOEs which implemented an IPO this year which numbered
9, including Cienco 1, Cienco 4, Thang Long Construction Corporation, Tedi
and Vinawaco which were among 11 SOE overall had all of their shares sold at
the IPO.
Seven out of 25
SOEs did not have a successful IPO with less than 5 per cent of shares sold.
One of which was
Cienco 8, with only 37,000 shares out of more than 10 million shares or 0.37
per cent sold. Others included Ha Noi Construction Corporation, Vivaso and
Vinamotor.
SOEs' IPO seemingly
did not appeal to foreign investors as only Viglacera had foreign investors
who bought 10.1 million shares, accounting for 52 per cent of the total shares
sold.
Under the approved
plan, 432 SOEs must be equitised in the 2014-15 period. This is a number,
which many said would be too ambitious.
Biodiesel factory
gets underway
The construction of
a biodiesel plant began yesterday in the Tra Da industrial zone in
This is the first
biodiesel plant in the Tay Nguyen (
Accordingly, the
first stage, with a capacity of producing 8,000 tonnes annually, will be
completed in eight months at a cost of VND150 billion, or US$7.1 million.
After three years, the plant's capacity will be raised to 30,000 tonnes per
year at an investment cost of VND500 billion, or $23 million.
VN firms attend
The products were
displayed in the
Sri Lankan Minister
of Industry and Commerce Rishad Bathuideen appreciated
He affirmed that
the Sri Lankan Government would create favourable conditions for foreign
investors, including those from
The pavilion,
jointly organised by the Vietnamese Embassy and the Sri Lankan National
Chamber of Commerce, also showcased images of Viet Nam and its people, as
well as traditional products and publications on the country's economics,
culture and tourism as well as the friendship between the two countries.
Lotte Mart
invests in Can Tho
Lotte Mart of
The project will
cost VND657 billion, or US$31 million. Lotte Mart Can Tho will be a
comprehensive trade centre having a supermarket, shopping centre,
entertainment area and food court spread over more than 20,000sq.m.
Ha Noi to host
Hungarian firms
A business forum
will be held in Ha Noi on May 22 on the occasion of a Hungarian business
delegation's visit to
The forum is being
jointly organised by the Chambers of Commerce and Industry of Viet Nam and
The one-week forum
is an opportunity for businessmen from the two countries to exchange ideas
and make future cooperation plans.
Hungarian
enterprises want to cooperate with
Export
forum to be held in HCM City
The HCM City
Investment and Trade Promotion Center has said that the 2014 Export Forum
would be held on September 12 and focus on helping exporters identify
potential markets, understand changes in regulations, policies, and
requirements to access the markets, import-export trends, and consumers'
habits.
The "Orient
Viet Nam export markets and products" forum is expected to attract 500
attendees including officials from the Ministry of Industry and Trade, envoys
and commercial counselors of other countries in HCM City, trade promotion
organisations, producers and exporters, and business groups.
The annual forum
has been held since 2012.
KDC sees
growth in pre-tax profit
Kinh Do Corporation
(KDC) reports that its pre-tax profits increased 5.5 per cent in the first
quarter of the year.
Net sales fell
slightly by 1.7 per cent year-on-year, and the gross profit margin for the
first quarter fell from 37.9 per cent in 2013 to 35.8 per cent in 2014.
The company
continues to focus on improving operational efficiency and management, and
plans to pursue a merger and acquisition strategy to broaden its product
base.
For 2014, it
targets sales of VND5.1 trillion ($243 million) and pre-tax profit of VND660
billion ($31 million).
The Ministry of
Transport opened the central
Part of a World
Bank-funded priority infrastructure project, it includes 6.79km of four-lane
road, two bridges that connect National Highway No 1 and the coastal Truong
Sa Road.
The project was
backed with VND1trillion (US$48 million) from World Bank's Official
Development Agency (ODA) funding.
"The route will
ease congestion in the city centre and support the East-West Economic
Corridor that links
"The project
marks the co-operation between the city and the World Bank in developing the
city's infrastructure and socio-economic development."
The Minister of
Transport, Dinh La Thang, said the project showed the city's capabilities in
developing infrastructure projects.
He said the ministry
and the city would co-operate further in developing series strategic
projects, such as the Da Nang-Quang Ngai Expressway, the relocation of the
railway station; upgrading sea ports and expansion of the Hai Van Tunnel.
The operations
manager for the World Bank's
She said she
appreciated the strong leadership from the city's administration in
completing the quality project on schedule.
The completion of
the ring-road will help the city speed up a plan to become a Green city by
2025.
Keiko said the bank
would continue to support the central city.
Vietnam's
rice exports earn 845 million USD
The country
exported 181,000 tonnes of rice in the first half of May worth 79.87 million
USD, lifting the shipment to date this year to 1.932 million tonnes worth
845.38 million USD, according to data from the Vietnam Food Association
(VFA).
The association
stated that the average price for export rice this month reached 441.51 USD
per tonne, down roughly 21 USD per tonne against the same period last month.
However, domestic
rice prices were reported to have edged up in the week through May 15, versus
a week ago. In detail, in the Cuu Long (
Prices of 5 percent
broken rice were from 6,900 to 7,000 VND per kilogram, up 100 VND per
kilogram; prices of 15 percent broken rice were from 7,700 to 7,800 VND per
kilogram, up 50 VND per kilogram; and prices of 25 percent broken rice were
from 7,400 to 7,500 VND per kilogram, up 50 VND per kilogram.
The UN's Food and
Agriculture Organisation (FAO) has estimated Vietnam's milled rice exports to
increase to about 7.2 million tonnes this year, up about 8 percent from about
6.7 million tonnes last year due to higher production and increased export
demand from Asian countries such as Indonesia, Malaysia, China and the
Philippines backed by low prices.
FAO has estimated
Vietnam's total paddy rice production at about 44.2 million tonnes (around
27.6 million tonnes of milled rice) in 2014, marginally higher than about 44
million tonnes (around 27.5 million tonnes of milled rice) produced in 2013.
The UN agency, however, forecasts
However, VFA last
week lowered the country's 2014 rice export target to 6.2 million tonnes from
the earlier target of 6.5 – 7 million tonnes due to heavy competition from
After two years of
deployment, the Vietnam Automated Cargo and Port Consolidated System and
Vietnam Customs Information System (VNACCS/VCIS) will be deployed in all 34
provincial/municipal customs departments across the country on June 25, the
Vietnam Business Forum Magazine (VBF) reported.
Funded by the
Government of Japan, this project is based on techniques and technologies
applied by Japanese customs authorities and government. Hence, VNACCS/VCIS is
expected to become an effective tool for Vietnamese customs authorities and
the government, and help the business community carry out customs clearance
procedures.
The VNACCS/VICS
system automates many tasks like automatically determining the tax rate for
each HS code, including special preferential tax rates in accordance with
agreements with other nations, and calculating duties on specific merchandise
in every declaration sheet, automatically storing modifiable declaration
forms. This is a huge benefit for enterprises when they do customs
procedures.
The reception and
operation of the VNACCS/VCIS system will directly improve the efficiency of
customs clearance of imported goods, thus facilitating trade and enhancing
The operation of
the VNACCS/VCIS system will help the Government of Vietnam to realise its
objectives in the Customs Development Strategy in 2011 - 2020 period and
initially meet its commitments to deployment of single-window national
customs mechanism and participation in the ASEAN Single Window.
Nguyen Ngoc Tuc,
General Director of the General Department of Vietnam Customs said that to
carry out the project the parties concerned mobilised every resource and
received valuable expertise from specialists in various fields.
All concerned
parties made great efforts to compete their enormous workloads like analysing
thousands of document pages, dozens of processes, hundreds of forms, and
thousands of information indications in a limited time offer.
Currently, the General
Department of Vietnam Customs set up personnel apparatus for the system
operation from the central to local levels. GDC and its branches have online
help desks and hotlines to support enterprises. In early stage, the GDC will
send staffs to its branches to operate this system smoothly. Exporters and
importers can contact help desks at customs offices they are working with for
assistance with VNACCS/VCIS.
Deputy Prime
Minister Vu Van Ninh told the Ministry of Finance to collaborate with
relevant ministries and agencies to secure resources, connection systems and
information technology infrastructure for the stable, sustainable and
efficient operation of the system; and to direct the review, analysis and
evaluation of system advantages and disadvantages to ask the Government for
supplementation, modification, upgrading and expansion.-
Steel
industry seeks to overcome difficulties
Although the
construction season had begun, the sale volume in April of almost all steel
enterprises were lower than March's sale figure, the Vietnam Economic News
said on May 19.
The frozen real
estate market and the slow development of the construction market and the
shipbuilding industry were some reasons that Vietnam Steel Association (VSA)
Chairman Ho Nghia Dung told the media when mentioning difficulties of the
steel industry. The low growth of infrastructure development was also a
reason of the humble steel sales.
The main problem
lied in the imbalanced relation between supply and demand on the steel
market. According to the South East Asia Iron & Steel Institute
(SEAISI)’s statistics,
VSA Chairman Ho
Nghia Dung said that the steel market remains potential. Steel consumption
per capita in
While the market
remains difficult, many steel businesses have been growing well, including
the Hoa Sen Group, Vietnam-Australia Steel Joint Venture Company, the
Vietnam-Japan steel joint venture company, and Hoa Phat Steel Joint Stock
Company.
Vietnam Steel
Corporation (VNSTEEL) General Director Nghiem Xuan Da said that VNSTEEL will
restructure its working apparatus, provide support to the five loss making
companies and give greater power to subsidiaries to operate more effectively
and minimize losses in 2014 and the following years.
Ministry of
Industry and Trade’s Department of Heavy Industry Director Nguyen Manh Quan
said that steel businesses should reorganise their markets and restructure
production to improve quality and competitiveness, and that they should be
determined to create good quality, reasonable-price products and approach
cost effective production.
VSA Chairman Ho
Nghia Dung said that VSA has proposed that the government have solutions to
develop the engineering industry to increase steel demand and sales.
BIDV to
open affiliate in Myanmar
The Bank for
Investment and Development of Vietnam (BIDV) is working to open a commercial
bank in
According to BIDV
Chairman Tran Bac Ha, BIDV has rent 3,000 sq.m in the Hoang Anh Gia Lai
Myanmar Centre project in
The bank has also
proposed cooperation with
In April 2010, BIDV
established its representative office in
FDI
businesses earn trade surplus in Q1
Enterprises with
foreign direct investment (FDI) continued to be a major factor generating
trade surplus in the first four months of 2014, the Vietnam Business Forum
Magazine (VBF) reported.
FDI businesses
created trade surplus of total 4.1 billion USD while domestic enterprises
faced a trade deficit of 3.41 billion USD, according to the Ministry of
Industry and Trade.
Exports of FDI
enterprises continued its high growth rate and made a major contribution to
export growth. The country’s overall export in the first four months of 2014
increased 6.6 billion USD compared with last year's same period, of which the
value of FDI sector (crude oil excluded) increased 4.7 billion USD
(accounting for over 70 percent of additional export value).
The items of large
export value and high growth rates were mainly contributed by FDI
enterprises, including telephones and components (accounting for 99.6 percent
of the country’s production); computer and electronic components (98.4
percent); footwear (76.7 percent); textiles (60 percent), etc.
Export in the first
four months grew 16.9 percent over the same period in 2013 while import
increased by 13.7 percent. Export surplus was estimated at 683 million USD
nationwide, accounting for approximately 1.5 percent of total export value.
This was a positive result for export sector in the first months of 2014.
Export of the
processing industry group still played an important role, contributing
significantly to the growth of the whole sector, rising 19.4 percent compared
with last year. Main contribution for this group included mobile phones and
components, textiles, footwear, wood and wood products, all are commodities
of big export value and growth rate over 20 percent.
Agricultural and
aquatic exports increased 14 percent with high growth recorded mainly on
aquaculture products (32 percent), coffee (29.5 percent), pepper (41.3
percent), vegetables (23 percent). Mineral and fuels decreased by 10.5
percent with a decline in both volume and value of crude oil and coal products.
Imports of
commodities needed for domestic production and consumption as well as for
processing and re-export of FDI enterprises continued to grow, accounting for
88.5 percent of total import value. The import volume of many raw materials
was increased due to fallen prices.
Imports of some
commodities such as mobile phones, small cars under nine seats still had a
high growth rate compared with the previous year.
Average export
prices of some commodities rose including cashew, tea, rice, coal, crude oil,
petroleum. Some items had lower average prices such as coffee, especially
rubber’s price downed 24.9 percent, plastics fell 5.3 percent, iron and steel
9 percent.
Influenced by
export prices, exports of agricultural products decreased 207 million USD; fuel
and minerals increased about 97 million USD. In general, those two groups
lost 110 million USD due to fallen export prices.
The first four
months of 2014,
Exports of
agricultural, forestry and fishery products went up 13.2 percent compared
with last year’s same period with many items enjoyed high growth, however,
export prices of rubber and coffee, two key commodities, fell.
Exports of
processing industrial commodities continued to play an important role,
contributing to the overall growth in exports. This group's exports rose 19.4
percent over the same period last year, accounting for 72.2 percent of total
exports.
Imports of
commodities needed for domestic production and consumption as well as for
processing and export of FDI enterprises continued to grow, accounting for
88.5 percent of total import value. The import volume of many raw materials
was increased due to fallen prices.
Export value of
mineral and fuels in April was estimated at 705 million USD, down 10.2
percent from the previous month and up 0.7 percent compared with the same
period in 2013. Export in the first four months of 2014 was estimated at 2.91
billion USD, down 10.5 percent over the same period. Gasoline was the only
product in the group experienced exports surplus compared with last year (up
6.4 percent) due to increased exports volume (up 5.4 percent).
Except ore and
other minerals increased sharply, export prices of the other commodities
remains generally stable. Decreased export volume was the main reason of declined
export of this group. In the first four months, the group’s export fell 390
million USD.-
Agro-fishery
exports increase in four months
Aquatic products
topped the list, bringing home 2.24 billion USD, 32 percent higher than same
period last year.
The exports of
cashew, vegetables and fruits, and coffee rose from 16.5 to 29.5 percent.
Meanwhile, several
items saw declines in the reviewed period such as rubber (36 percent),
cassava and related products (17 percent); and tea (10.3 percent).-
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Tư, 21 tháng 5, 2014
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