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BUSINESS
IN BRIEF 30/5
Dragon
fruit enters
Signatories to the
programme were Nguyen Xuan Hong, head of the Plant Protection Department
under the Ministry of Agriculture and Rural Development (MARD) and the New
Zealand Embassy in
With the programme
in effect,
He expressed his
hope that the first shipment of Vietnamese dragon fruit will soon dock at
It has recently
funded various projects to plant new varieties of fruits in
Real estate
starts to recover
The domestic real
estate market has become warmer as property prices have dropped sharply to
suit the budget of the average buyer.
Vu Van Phan, deputy
head of the Ministry of Construction's Housing and Real Estate Market
Management Department, announced at an online meeting on Reality and the
Prospects of Vietnam's Property Market, held in Hanoi on May 29, that estate
prices had declined 20-30% or even 50% compared with the "hot"
period in the market several years ago.
The price decrease
in suburban and Ring Road 3 areas was higher than property projects in the
city's central districts.
"The market
has also seen an increasing number of estate transactions," Phan noted.
Statistics
collected from the Municipal Department of Construction, property businesses
and floors revealed that the city has had more than 6,350 successful
transactions in the year 2013. In the first quarter of last year, the number
of transactions was 800, and those in the second, third and fourth quarters
were 1,050, 1,800 and 3,000, respectively.
Answering the
question of whether the market has bounced back to its "hot" period
in 2009, Phan stated that such a situation will not arise as the market has
faced difficulties for a long time together with high inventory.
Tran Ngoc Quang,
deputy general secretary of the Vietnam Real Estate Association, agreed,
adding that the market has seen positive changes.
Of the total, the
market segment for medium-sized apartments has the highest number of
transactions. In addition, property firms have regained customer trust.
However, Quang
pointed out that property distribution and service companies have been
developed with a lack of consistency and professionalism, especially in
management.
"The market is
still suffering a lack of sustainability, which requires consistent efforts
from all relevant parties though it has seen improvement," he noted.
Tran Nhu Trung,
deputy general director of Tan Hoang Minh Group, added that the market has
experienced a period of adjustment after a hasty and unprepared period.
"The domestic
estate market has shown improvements this year as its liquidity rose by 2-3%
in each quarter," Trung noted.
The change was
remarkable though it was small as the market has been naturally adjusted and
has not been affected by reactions to trends or events.
He added that the
recovery has not been observed in all segments, as figures from property
floors and consulting firms revealed that 50 – 80% of transactions are on
projects that have good locations and are under construction or complete.
Those projects that did not fall under any of these factors have no
liquidity.
Japanese
businesses further operation in Vietnam
Japanese
enterprises will continue their investment in
He said that the
association groups more than 700 enterprises, about 100 of them joining in
2013, which shows their interest in the city and
In recent years,
the JBAH has promoted
At the meeting,
Vice Chairman of the HCM City People's Committee Le Thanh Liem said he hopes
the association will continue acting its role as a bridge between Japanese
enterprises and the municipal authorities.
He said the
Vietnamese Government, its ministries and the city have promptly handled
consequences of regrettable incidents that happened on May 13-14 and helped
affected businesses soon resume their operation.
Local authorities
pledged to strictly punish extremists and ensure safety for foreign
enterprises, including those from
Thai
businesses seek franchise partners in Vietnam
A number of Thai
businesses attended a franchise forum in
These businesses
are franchises that mainly operate in the fields of food and beverage, health
care, education and training, services, and restaurants.
Franchising is the
optimal choice in bringing business opportunities for enterprises, especially
in potential markets like
Vo Tan Thanh,
Director of the Vietnam Chamber of Commerce and Industry (VCCI) in
The involvement of
international brands opens up opportunities for domestic consumers to access
high-quality goods and services, he said, adding it also requires domestic
enterprises to improve their innovation, creativity and standards to meet
consumer demand.
Vietnam-Peru
trade ties remain modest: workshop
The figure was
released at a workshop in
Nguyen The Hung,
Deputy Director of the
Agriculture,
seafood processing and science-technology will be priority cooperation areas
between the two countries in the coming time, and their business communities
will help fulfill the task, Hung said.
At a working
session with the municipal leaders on May 27, Ninh asked the city to
anticipate emerging issues that can affect production activities in the
future.
Mentioning some law
breakers’ actions that adversely affected foreign businesses earlier this
month following looting and arson attacks, the Deputy PM praised the city for
its quick and positive response, which limited the extremist acts and the
negative impact on enterprises, especially foreign ones.
In the time to
come, the city should continue to ensure security and prevent similar acts
from recurring, he said, adding that it needs to review relations between
employers and employees, and increase education campaigns to raise workers’
awareness.
Deputy PM Ninh also
spoke highly of the municipal authorities’ efforts in directing the
implementation of socio-economic development tasks in the first months of the
year.
He urged the city
to continue stabilising the macro economy, settling bad debts and restructuring
credit organisations while applying measures to ensure budget collection and
speed up the restructuring of State-owned enterprises.
According to a
report from the municipal People’s Committee, disturbances at the city’s
industrial parks caused damage of about VND3.9 billion (US$185,700) for local
businesses.
Right after the
incident, the city focused all resources to deal with the problems and by May
17, businesses had resumed their operations.
The
The signatories
were the Ministry of Agriculture and Rural Development (MARD), the Korea
International Cooperation Agency (KOICA) and CJ group – the RoK’s leading
group of food material distribution - and Ninh Thuan provincial People’s
Committee.
Deputy Minister of
Agriculture and Rural Development, Tran Thanh
The three-year
project will be implemented from May 2014 to May 2017 in Tam Ngan hamlet, Lam
Son commune, Ninh Son district with a total funding of US$1.7 million from
KOICA and CJ group.
The project will
focus on enhancing capacity building in rural areas, organising training
courses on the implementation of programmes to build new rural areas, improve
the environment, upgrade primary schools and kindergartens and increase
agricultural output,in particular chilli farming.
Under the MoU
signed between the provincial People’s Committee and CJ group on September 4,
2013, both sides worked on developing a chilli growing area of around
500-600 hectares in order to export chillies to CJ group’s processing food
factories in the RoK and other nations.
In the future, CJ
group is likely to purchase an increased volume of around 5,000 tonnes of dry
chillies per year.
In the first phase,
CJ Group will provide Vietnamese farmers with 16 new varieties of chillies,
materials and the necessary funding required to grow chillies in Thuan Bac
district, Lam Son commune, Ninh Son district.
After that, CJ
group will be responsible for providing chilli varieties and transferring
cultivation technologies to farmers and has pledged to purchase 100% of the
chillies under the agreed prices.
Once successful,
the cooperation model will be rolled out in other localities nationwide.
Lee Jae Wook, CJ
group’s Vice President said that the group plans to launch a series of
projects in
The 2nd
International Medical, Hospital, and Pharmaceutical Exhibition-Myanmar
Phar-Med Expo 2014 will be held at Myanmar Convention Center (MCC) in
The information was
released at press conference in
Spanning 2.000
square meters, the exhibition is expected to attract more than 100 firms
manufacturing pharmaceutical products, machinery, and medical devices from
countries around the world.
Representatives
from the Myanmar Medical Association highlighted the opportunities for
healthcare cooperation between companies in
According to the
organising board, following the success of the first exhibition, the 2nd
Myanmar Phar-Med Expo 2014 will continue to provide a great trade platform
for enterprises who want to cash in on the emerging
The nation welcomed
3.75 million foreign arrivals in the first five months of this year,
demonstrating a year-on-year increase of 26.07%.
In May alone,
674,200 foreign arrivals came to
The Vietnam
National Administration of Tourism (VNAT) said in the first five months of
this year, most markets showed increasing number of guests to
At the same time,
the number of domestic arrivals was estimated at 20.4 million, up by 6.7%
against compared with last year.
Total tourism
revenue hit VND109,160 billion, representing a year-on-year increase of
28%.
Expo
focuses on food ingredients market
Like other
countries in Asia,
Mervyn Gribben, the
general manager of Kerry Viet Nam, said the country was a vibrant market with
a mix of traditional and new food ingredients. He added that the three-day
exhibition was useful for the company to reach out to existing and potential
customers.
Sharing the same
point of view, a representative from a Thai company said they anticipated
having success in
He said the country
had a good consumption market and was developing well.
According to UBM
Asia, the event's organiser, a large number of international exhibitors and
visitors, coming from 16 countries and territories testified to the growing
interest in the Vietnamese food and beverage sector as well as food
ingredients.
The organiser said
that a number of co-operation contracts had been signed and that many companies
found opportunities to open or widen their businesses in
The business
director of UBM Asia, Rungphech Chitanuwat, said the three days had provided
the right ingredients for success: business, networking and learning.
"This focus
ensures that we meet the needs of food and beverage industry professionals at
all levels of the supply chain," she said.
Many companies
agreed that they would continue to take part in the event next year.
"The expo is a
good chance for us to meet other companies and to share experiences as well
as solutions in the food industry. My company will surely join the next expo.
Kicked off a week
ago, this was the first exhibition on food ingredients. The event was
organised at the Sai Gon Exhibition and Convention Centre. The next expo will
be in May 2015.
Geographical
indications increase value
The registration of
geographical indications (GIs) will not only protect trademarks and consumers
but also help Vietnamese goods to penetrate into large markets.
Delphine
Marie-Vivien from the Centre for International Co-operation in Agronomic
Research (CIRAD) announced at the workshop on Geographical Indications held
in Ha Noi yesterday that Free Trade Agreement (FTA), which
She reported that
GI registration in
Specifically, names
of countries will be attached to products, thus increasing value-added
products.
In addition, GI
labelling will also benefit consumers as the products will be ensured in
terms of origin, quality and trust.
She stated that
GI registration
report revealed that 14 agricultural trademarks beyond EU region have been
granted GI registration including
Participants at the
workshop were told that according to a survey on 16,000 consumers from 1996
to 1999, 43 per cent of European consumers or more than 210 million people
were ready to pay an additional 10 per cent for GI products and 8 per cent of
consumers were ready to pay 20 per cent, while 3 per cent of consumers were
ready to pay 30 per cent.
Director General
Tran Trung Thuc, head of the Vietnamese European Free Trade Agreement (EFTA)
negotiating team, agreed, adding that the open market for other countries
would not only reduce and remove tariffs but also property right
negotiations, which would create favourable conditions for Vietnamese
agricultural and seafood products to enhance exports to European countries in
general and EFTA countries in particular.
"Goods
standards in EU is high. If Vietnamese goods could ensure the demands, they
could have opportunities to reach the world market," Thuc stated.
EFTA includes the
four countries of
Experts at the
workshop also agreed that signing with EFTA would be a useful tool for FTA
between
It was of
significance that the current taxes on Vietnamese agricultural and food
products exported to EFTA had been at a high level with an average rate of 19
per cent.
However, the
signing could help
The reason was that
Vietnamese enterprises had paid attention to exports but not to building
trade mark.
In addition, the
high cost of GI registration had been a barrier for businesses in deciding
whether to register, they said.
Supporting
industries to be developed
Vietnamese and
foreign entrepreneurs discussed ways to develop the country's support
industries at a forum in
Nguyen Van Tuan,
deputy director of the Investment and Trade Promotion Centre (ITPC) of
Hirotaka Yasusumi,
managing director of the Japan External Trade Organisation (JETRO)'s
According to a
JETRO survey, local procurement of industrial materials and sub-components by
Japanese companies in
Bui Quang Hai,
deputy chairman of the HCM City Association of Mechanical Engineering, said
the country's exports of electronic products, computers, and telephones have
surged in recent years, but import of components for them has increased
sharply too.
Many firms admit
that their production depends too much on import of inputs, he said.
With multinationals
following an outsourcing strategy based on the China plus 1 (Thailand,
Indonesia, Viet Nam) model, Viet Nam should focus on improving the
competitiveness of its mechanical engineering industry to take part further
in the global supply chain.
Yasusumi said:
"We are now working on a new scheme in which private companies and
government departments co-operate to work for the development of support
industries.
"We are aiming
to identify and satisfy companies' potential needs through business matching
events, seminars, and personnel training to make a proposal to the government
for policies for support industries.
"In order not
to fall into the middle-income trap Viet Nam needs technical innovation, and
so we promote technology transfer to Vietnamese companies by furthering human
resource development and creating a close relationship between Japanese and
Vietnamese companies."
Duangdej Yuaikwamdee,
deputy managing director of Thai-owned Reed Tradex Co Ltd, said
Finding the right
partners to do business with would also help
Yasusumi said since
most Vietnamese companies involved in the supporting industries are small and
medium sized, they need Government support in terms of personnel training and
funding.
The forum was
organised by the ITPC, JETRO, and Reed Tradex.
SOEs make
good move towards capital withdrawal
Total capital to be
withdrawn from non-core businesses at state-owned enterprises (SOEs) by the
end of July might be higher than projected. This statement was made by the
Department of Entrepreneurial Finance under the Ministry of Finance quoted by
Viet Nam Economic Times.
Next month, the
finance ministry will issue a decision regulating the capital withdrawal to
accelerate the process.
In the meantime,
the department has observed positive moves from enterprises. The Electricity
of Viet Nam (EVN) and the Vinacomin Finance Company have proposed detailed
plans to withdraw capital from An Binh Bank and VP Bank, respectively.
The Ministry of
Construction has hastened the capital withdrawal at Song Da Corporation and
Housing and Urban Development Corporation.
Deputy Director of
the Department of Entrepreneurial Finance Dang Quyet Tien stated that the
ministry would instruct enterprises to carry out equitisation plans once the
withdrawal process was completed.
Enterprises are
supervised to ensure that they accelerate the process without causing loss.
According to
Resolution No 15/NQ-CP of March 6 this year, enterprises were asked to speed
up equitisation and divestment of state capital. The enterprises may sell
stakes in non-core businesses at below the face value, which will be
presented to the prime minister for approval.
Experts revealed
that the sale of stakes below the face value, in fact, did not conflict with
the market principle as the investments were inefficient. The important issue
was ensuring transparency of planning, auctions and prices to the buyers.
Statistics from the
Steering Committee on Corporate Renovation and Development revealed that SOEs
have managed to withdraw around VND4.164 trillion (US$198.28 million) in the
end of April, from their non-core business, comprising 19 per cent of the
total non-core investments.
High
inventories weigh on steel company profits
Only four out of
the 15 steel companies listed on exchanges reported growth in profits in the
first quarter this year, while the rest suffered losses or declining profits.
The statistics of
Vietstock.vn showed that steel companies were in trouble.
According to Phan
Dung Khanh, investment consultancy director of Maybank Kim Eng Securities,
high inventories and difficulties in sales were the major problems that the
steel companies encountered.
Four companies with
growing profits were the Hoa Phat Group (HPG), the Steel Structure Manufacture
Joint Stock Company (SSM), the Viet Nam Germany Steel Pipe Joint Stock
Company (VGS) and the Dai Thien Loc Corporation (DTL).
Meanwhile, a giant
in steel production, the Hoa Sen Group (HSG) reported a two-thirds fall in
profits year over year in the first quarter of this year, totalling just
VND68 billion or $3.2 million.
The Tien Len
Corporation (TLH), Viet Nam–Italy Steel (VIS), the Nam Kim Group (NKG) and
the Dana Y Steel Company (DNY) also witnessed declining profits in the first
three months.
Worse, the Nam Vang
Corporation, listed on the Ha Noi Exchange as NVC, incurred losses of more
than VND13 billion or $619,000 in the first quarter and also in the nine
consecutive months from the last quarter of 2011.
The aggregated
losses of the Nam Vang Corporation as of the end of March reached VND364
billion or $17.3 million. The stock was compulsorily delisted from the
exchange on Monday as it has been reporting losses for three consecutive
years.
The HCM City-listed
Huu Lien A Chau (HLC) also posted a VND152 billion or $7.2 million loss in
the first quarter this year. The other loss-making firms included Bac Viet
Steel Jsc. (BVG), Pomina Steel Company (POM) and Dong Nai Roofsheet and
Construction Material Jsc. (DCT), Vietstock's statistics showed.
The causes for the
declining profits were varied, ranging from high depreciation, increasing
input costs, soaring transportation costs to interest burdens, companies
said.
The steel
production sector faced difficulties together with a sluggish property market.
Although the construction market was seen recovering in recent months, the
high steel inventories remained a burden, which Vietstock estimated to be
worth VND20.2 trillion or $962 million as of the end of March.
Suzuki
dismay at backdated $1.4m tax bill
Customs authorities
still insist on Suzuki Vietnam paying a recalculated tax bill.
Japan-backed Suzuki
Vietnam has continued to reject customs demands that the firm pay higher
taxes on several shipments of motorbike components the company had imported
for motorbike assembly in Vietnam.
Dong Nai provincial
Customs Department presented the motorbike manufacturer with a recalculated
tax bill that disputed 24 tax declarations submitted by Suzuki Vietnam
Company (Visuco) in 2012 involving the import of components for the assembly
of Suzuki GZ150, UA125 and EN125 motorbike models in Vietnam.
Under a customs
decision released in November 2013, Visuco would be liable to pay VND30.8
billion ($1.4 million).
The customs
department argued that the components Visuco had imported for assembly in
Vietnam did not meet the breakdown level as regulated in Ministry of
Finance’s Circular 49/2010/TT-BTC and Circular 194/2010/TT-BTC.
The Chinese
component supplier of Visuco also noted that the components have been
designated as CKD form.
After citing a
series of existing regulations, the customs department reached the conclusion
that Visuco’s import components fell under CKD form for assembling Suzuki
GA150-A, EN125-A FI and UA125T FI motorbike models and could be classified as
completed goods. The company currently only buys minor components such as
buffers, bolts, screws and handles for their assembly plant in Vietnam.
“Therefore, the
company needs to pay import duty as applied to CKD components and not those
levied on import components that the company previously enjoyed,” a customs
report concluded.
In fact, the import
duty levied on motorbike import components meeting breakdown levels averages
between just 10-15 per cent, whereas the import duty levied on component sets
under CKD form is at least 45 per cent if the component sets satisfy C/O
ASEAN form D requirements. If these criteria are not met the import taxes
could increase to as high as 75 per cent.
Visuco has
obviously objected to paying additional taxes of $1.4 million and said the
difference of levying tax codes and setting respective import duties was due
to lack of clear guidance on import duties related to imported motorbike
components.
“The regulations on
breakdown levels in circulars 49 and 194 have commonly applied to machinery
of all kinds whereas motorbikes and auto components have specific features.
For auto components, the Ministry of Science and Technology has enacted
concrete regulations guiding and classifying the breakdown level of import
components for assembling in Vietnam, meanwhile motorbike component imports
still lack such concrete regulations,” said Visuco managing director Masami
Haga.
At present, Visuco
is one of five foreign-invested motorbike businesses in Vietnam. However, its
sales volume was reportedly the lowest among them. Last year, the company
only sold 50,500 motorbike units, a sixth of its annual production capacity.
Sales volumes for other foreign-invested firms last year included
Italy-backed Piaggio Vietnam selling 56,200 units, Taiwan’s SYM with 82,000
units, Yamaha Vietnam with 731,000 units and Honda Vietnam 1.87 million
units.
IPI rises
5.9 % in May
The industrial
production index (IPI) in May increased by 5.9% against the same period last
year, according to the General Statistics Office (GSO).
In the January-May
period, industrial output saw a year-on-year increase of 5.6%.
The processing and
manufacturing sector reported a positive growth of 7.5% year on year;
contributing 5.3% of the general growth; the production and distribution of
the electricity sector jumped by 10.6%; the water supply, sewage and waste
management sector rose by 6.1%.
However, the mining
sector's growth fell by 2.1% year on year.
The GSO also
reported that Hai Phong took the lead with 11.7% growth rate in the first
five months; followed by Quang Ngai (11.6%); Quang Nam (11.2%); and Da Nang
(10.1%). In the two biggest cities HCMC and Ha Noi, IPI increased by 5.2% and
3.8%, respectively.
In April, the sale
of the processing and manufacturing sector picked up 3.7% against the
previous month and posted a year-on-year increase of 16.3%.
As of May 1, 2014,
inventory level of the processing and manufacturing went up 12.6% against the
same period last year. Meanwhile, the level of garments and textiles fell by
1.4%./.
Deutsche
Bank Vietnam has new CCO
Deutsche Bank today
announced the appointment of Jens Ruebbert as chief country officer (CCO) and
head of Global Transaction Banking (GTB), Deutsche Bank Vietnam, effective
immediately.
In his capacity as
CCO, Vietnam, Ruebbert will report to Gunit Chadha and Alan Cloete, co-chief
executive officers, Asia Pacific, and members of the Group Executive
Committee, Deutsche Bank AG.
As head of GTB in
Vietnam, he reports to Lisa Robins, head of Global Transaction Banking, Asia
Pacific, Deutsche Bank AG.
Announcing the
appointment, Gunit Chadha said, “Jens's appointment clearly underlines our
commitment to developing a successful franchise in Vietnam which is a growth
market for both our clients and the Bank. Jens brings significant global and
client management experience to this important role.”
Lisa Robins added,
"Our Transaction Banking business has been growing across the region at
double-digit rates and Vietnam has been an important contributor to that
development. Jens's focus will be to bring his extensive experience and that
of our team in Vietnam to serve the needs of both global and local clients
and to expand Deutsche Bank's presence in the market."
Ruebbert has held
various senior positions in Deutsche Bank during his career.
Most recently he
was managing director and chief operating officer, Deutsche Bank (China) Co.,
Ltd.
He has extensive
senior management experience across functions and geographies having worked
in Germany, Hong Kong, Singapore, Turkey and China.
Ruebbert is a
graduate business economist and holds a graduate diploma in Business
Administration from the Academy of Economy and Administration, Bochum &
Leipzig, Germany.
UK, RoK
support Ho Chi Minh City urban railway projects
The United Kingdom
(UK) and the Republic of Korea (RoK) sought to push bilateral cooperation in
developing the urban railway network for Ho Chi Minh City at a conference in
the city on May 27.
The UK General
Consulate and the Korean Railway Research Institute (KRRI) jointly organised
the function, which introduced the latest technology and financial issues, as
well as means of investment and construction of the network, to participants.
The event also
highlighted the cooperation achievements between the two foreign countries in
the field.
The municipal Urban
Railway Management Board presented a brief introduction on the city’s urban
railway system planning and detailed its fifth metro line which will link the
Sai Gon Bridge and the new Can Giuoc bus station.
The governments of
the UK and RoK have been called on to inject money into the project which,
once completed, will be able to handle about 526,000 passengers every day.
Project
offers lower rate loans to businesses in Hanoi
Businesses in the
capital can access loans with interest rates of 7–8 percent per year under a
programme to remove difficulties for businesses.
The programme,
initiated by the Hanoi People's Committee, connects banks and businesses in
the capital and is aimed to have commercial banks support credit for
businesses at reasonable interest rates.
Under the
programme, interest rates for short-term loans will be 7–8 percent compared
with the market average rate of 9–10 percent. The rates for medium- and
long-term loans will be 9–10.5 percent compared with the market average rate
of 10.5–12 percent.
The programme gives
priority to high-tech and supporting industries as well as small- and
medium-sized firms.
According to the
Hanoi Statistics Office, credit in the capital in the first 5 months this
year increased by 0.3 percent against the same period last year while
deposits rose 2.4 percent.
Outstanding loans
in May alone were estimated at nearly 948 trillion VND (44 billion USD), up
0.8 percent from last month and up 0.3 percent from December 2013.
Additionally, short-term loans increased by 0.6 percent from last month and
1.4 percent from December 2013, while medium- to long-term loans increased by
1.2 percent from last month and 3.9 percent from December 2013.
However, the
capital's credit growth rate was much slower than that of the whole banking
industry. Data from the State Bank of Vietnam revealed that credit growth in
the system at the end of April had reached 1 percent.
Total deposits of
Hanoi-based credit institutions in May reached 1,071 trillion VND (49.81
billion USD), up 1 percent from last month and 2.4 percent from December
2013.
Dong Nai firms recover after riot damage
Almost all the
enterprises affected by the recent social disturbances in the southern
province of Dong Nai have resumed their normal operation, according to Mai
Van Nhon, deputy head of the provincial Industrial Zones Authority (DIZA).
According to the
authority, 204 local enterprises were affected by acts committed by some
individuals, who took advantage of the May 13-14 protests against China ’s
illegal placement of its oil rig in Vietnam ’s waters to damage and loot
foreign factories. Of the total, 198 firms are located in industrial parks.
As of May 26, 203
firms had restored their production, while factory and equipment of the last
company are being repaired so that it can resume its operations soon, said
Nhon.
He said that
immediately after the incident, the authority coordinated with the firms’
owners to assess the damage caused to the enterprises and provide proper
support.
Johnson Wood Vietnam,
a Taiwanese company in Tam Phuoc industrial park, was one of the firms
affected by the incident that has resumed its work.
According to Pham
Xuan Nam, an administrative officer of the company, 2,500 workers have
returned to work. The company is also intensifying operations to make up for
the production loss incurred due to the disruption, he added.
Shen Hsin Yuan,
Vice Director of Perfect Vision company, another Taiwanese firm in Long Thanh
industrial park, said his firm has also recovered its production soon after
the incident. He said his confidence in the Dong Nai investment environment
remains unchanged, expressing his hope that the regrettable case will not
happen again.
Meanwhile, Imamura
Tomofumi, Chairman of the Japanese Business Association in Dong Nai, said 32
affected Japanese enterprises have recommenced their work. He said he hopes
the local government will continue supporting enterprises.
So far, the local
customs department has sent the necessary guidelines to enterprises,
especially those that lost their documents in the disorder, so that they can
receive support in the work, according to Le Van Danh, head of the provincial
Customs Department.
Meanwhile, Cao Ngoc
Son, deputy head of the Communications and Support Office of the provincial
Taxation Department, said the department has sent teams to the sites to
support enterprises.
The department is
prioritising tax refunds for affected firms, he added.-
Anniversary
of North-South power transmission line marked
A ceremony marking
the 20th anniversary of Circuit 1 of the North-South 500kV power transmission
line was held in Hanoi on May 27.
Addressing the
event, Deputy Prime Minister Hoang Trung Hai said the two-year construction
of the first extra-high voltage line was one of the finest achievements of
Vietnam’s electricity sector, adding momentum to the ongoing development of
the national system.
Hai stressed the
line had basically tackled a serious shortage of electricity for the central
and southern regions in the early 1990s, because power plants in the south
met only 89.73 percent of the demand for energy then.
The line’s Circuit
1, put into operation in 1994, has contributed greatly to national
socio-economic development. It has helped raise the country’s GDP growth to
9.5 percent in 1995 from 5.1 percent in 1990, while industrial production saw
annual rises of 12-14 percent in the five-year period.
Mentioning the
electricity sector’s possible future challenges, Hai requested the
Electricity of Vietnam (EVN) to heighten the competitive edge of the domestic
electricity market and attract more investment to expanding the national
grid.
Under the plan, an
annual capital of 17 trillion VND (799 million USD) will be poured into
developing the system in the 2014-2020 period, he noted, suggesting the EVN
continue to learn from foreign partners’ experience in constructing and
developing a grid at a low cost.
Circuit 1, together
with Circuit 2 that was put into operation in 2005, is a backbone of the
national power transmission system and helps improve the quality and supply
of electricity, EVN Chairman Hoang Quoc Vuong said.
Since their
operation, both circuits have transmitted more than 12 billion kWh per year.
On May 5, the
Pleiku-My Phuoc- Cau Bong 550kV transmission line, considered as Circuit 3 of
the North-South 500kV extra-high voltage line, was connected to the national
power grid in order to ensure the electricity supply in this year’s dry
season and the southern region’s demand for the power in the years to come.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Năm, 29 tháng 5, 2014
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