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BUSINESS
IN BRIEF 7/5
Trade
surplus $683m despite April deficit
Speaking at a press
conference in Ha Noi yesterday, Vy said, in April alone, the country fetched
$12.2 billion from overseas shipments, down 0.6 per cent from a month
earlier. Of the figure, an estimated $7.5 billion was earned by
foreign-invested firms, dropping 0.1 per cent year-on-year. This generated a
trade deficit of $400 million.
During the month,
the industrial goods sector sustained a growth of nearly 19 per cent, lower
than 23 per cent recorded in the past three months.
In the four months,
farm produce, including rice, saw a fall in exports due to intense
competition, said Phan Thi Dieu Ha, Deputy Director of the Export-Import
Department.
Ha said that over
1.7 million tonnes of rice brought home $765 million, down 18.2 per cent in
volume and around 17 per cent in value.
Deputy Minister of
Industry and Trade Le Duong Quang directed the ministry's departments and
agencies to clear business bottlenecks, particularly in capital access,
administrative procedures and market entry to reach the goal of $132 billion
from this year's exports.
Figures from the
ministry showed that electricity output last month was estimated at 11.42
billion kWh, increasing 13 per cent over last April. In the first four months
of the year, electricity output would reach 41.94 billion kWh, posting 10 per
cent year-on-year increase.
Pham Manh Thang,
Director of the ministry's General Department of Energy said power generation
would be 30,000MW, making a surplus of 10,000MW.
There would be
enough power supply for the country in the peak months of the upcoming dry
season, Thang assured.
He estimated that
power capacity this month would be 12 billion kWh, posting 5.6 per cent
increase over the previous month.
Duong Quang Thanh,
Deputy General Director of the Electricity of Viet Nam said the group is
preparing to ensure power for the season.
Thanh said the
Pleiku-My Phuoc – Cau Bong 550kV transmission line which was integrated into
the national power grid yesterday would ease the power shortage for the
southern cities and provinces in the upcoming time.
The 437.5 km long
line run by the Viet Nam National Power Transmission Corporation passes
through five provinces including Gia Lai, Dak Lak and Dak Nong in the Central
Highlands, and Binh Phuoc and Binh Duong in the south.
The VND9.2 trillion
($432.4 million) project was funded by the World Bank, the Asian Development
Bank and the German Reconstruction Bank, along with the Viet Nam Bank of
Industry and Trade, and the Viet Nam Development Bank.
The line has linked
the power system of the south-eastern and south-western regions, ensuring a
safe and smooth network that is ready to cope with the exchange of power
among regions in the country.
As many as 4,787
households along the project site have been relocated.
Bac Lieu
seafood exports surge to $115 million
The Cuu Long
(Mekong) Delta
The result was
attributed to the efforts of the enterprises in improving their processing
and manufacturing process to improve the quality of products and reduce the
production cost.
Bac Lieu's aquatic
products maintain a firm foothold in international markets, fulfilling
importers' regulations on food security and technical requirements.
In April, the
locality enjoyed an aquatic farming and catching output of nearly 23,000
tonnes. The figure pushed the total output of Bac Lieu in this year's
January-April period to 73,000 tonnes, a 3 per cent rise over the same period
in 2013, helping the province complete nearly 27 per cent of its yearly
target.
Can Tho
wants investment for hi-tech agri-zone
The Cuu Long
(Mekong) Delta city of
The Thoi Hung
High-Tech Agricultural Zone will cover up to 500 ha of land in Co Do
District.
This zone will be
used to produce plant varieties and breed livestock under international
standards and apply cutting-edge technology in processing agricultural and
aquatic products.
Its operation is
set to help expand the application of advanced agricultural technology in
The promotion
centre stated that once investors operate in the zone, they will have to pay
only half of the land-use fee. They will also be permitted to acquire land
without charge for the purpose of constructing residential buildings for
workers and public facilities.
They will also
receive financial support covering between 70 and 100 per cent of the
training expenses for Vietnamese staff.
Wood
product firms need to look closer to home
Firms which
manufacture wood products for export should focus on the domestic market,
which is being dominated by foreign products or those made by small-and
medium-sized firms and trade villages.
This was stated by
Nguyen Ton Quyen, General Secretary of the Viet Nam Wood and Forest Product
Association (Vifores). He added that Viet Nam is placed sixth in the world
market in terms of the value of its wood and wood product exports, second in
Asia and the first in Southeast Asia, reported the Thoi bao Kinh te Viet Nam
(Vietnam Economic Times) newspaper.
Last year,
Meanwhile, the
value of the domestic consumption of wood products for home and outdoor
decorations reached $2.7 billion in 2012 and surged to $3 billion in 2013,
Quyen said.
However, few of the
2,500 local companies which process wood products for export have invested in
developing the business for the home market, according to Quyen. Therefore,
it could be said that these enterprises have ignored the domestic market for
wood products.
The domestic market
is dominated by imported wood products. Small and medium-sized companies and
trade villages have provided their fine art, interior and wood products for
the domestic market, but these are of non-uniform quality and poor design.
At present, a few
Thai manufacturers and distribution companies of wood products were planning
to buy the facilities of small wood product manufacturers in
The local wood
product exporters could meet international quality standards and had many
quality designs, but the domestic customers did not have access to such
products.
Quyen said these
exporters had the ability to produce on a large scale but did not have the
ability to trade.
Almost all of them
focused on exporting products and shipping them to their partners abroad
under large export orders. They had not paid attention to distributing their
products in foreign markets.
In recent years,
the exporters had returned to the domestic market, together with an increase
in exports, Quyen said. However, they had faced many challenges in developing
their business in the domestic market.
The state did not
have any policies to encourage the development of wood products for the
domestic market. For example, the state exempted wood product exports from
tax, but imposed value-added tax on wood products sold in the domestic
market.
The companies must
build a distribution system and a production system while developing the
domestic business.
Additionally, the
domestic customers were not familiar with the trademarks of domestic wood
product manufacturers, he said.
To enter the
domestic market, these companies should set up design, marketing, market
research and consulting teams and then build a distribution system in the
home market, he said.
The enterprises
should also have strategies to increase the volume and quality of wood
products for the local market as well as to advertise their trademarks, he
said.
Capital
raising measures $4b in Q1
The capital raised
through the stock market in the first quarter of this year reached VND85.3
trillion, or US$4.06 billion, representing an increase of 31.51 per cent year
over year.
According to the
Ministry of Finance, the stock market of
With the VN-Index
on the HCM City Exchange soaring by nearly 18 per cent during Q1, following a
22 per cent rise last year, the stock market became the world's
second-fastest-growing equity market, according to the financial website
Zerohedge, based on Bloomberg's data.
The stock market
rebound boosted the market capitalisation to reach VND1,207 trillion, or
$57.4 billion, as of the end of March, adding VND258 trillion, or $12.2
billion, in comparison with the end of last year and equivalent to 33 per
cent of the nation's gross domestic product.
Statistics showed
that the trading value also increased strongly in Q1, averaging VND5.2
trillion, or $247.6 million, per session; 89.7 per cent higher year over year
and 92.1 per cent higher than the average figure last year.
According to the
finance ministry, the Vietnamese stock market was going through restructuring
for a more sustainable development with focus on foreign indirect investment.
Securities
firms report bumper earnings despite challenges
A number of
securities firms posted huge profits in the first quarter of this year, but
many were in difficulty although the market is recovering.
According to the
statistics of Dau Tu Chung Khoan (Securities Investment) newspaper, to date,
78 securities firms have reported their first quarter's business results,
with total pre-tax profit reaching nearly VND1.4 trillion ($67.3 million),
more than doubling the figure of the same period last year.
Notably, the gain
was mostly registered by 30 companies, which each earned upwards of VND2
billion ($95,000), including FPT Securities (FPTS), Vietcombank Securities
and VNDirect Securities.
FPTS reported the
first quarter's profit at VND38.6 billion (US$1.8 million) and nearly VND70
billion (US$3.3 million), which is 68 per cent and 43 per cent higher,
respectively, than the same period last year. FPTS attributed its soaring
profit to the recovery in the stock market, which helped to boost the revenue
from brokerage.
VNDirect Securities
also gained VND59.3 billion (US$2.8 million) in pre-tax profits, or
equivalent to a 110 per cent growth rate over the same period last year.
The turnover from
brokerage activities constituted 46 per cent of VNDirect's VND104.5 billion
(US$4.9 million) total revenue.
The revenue from
the brokerage of Vietcombank Securities also soared by nearly 100 per cent to
reach nearly VND30 billion (US$1.42 million) out of the net revenue of
VND109.4 billion (US$5.2 million).
The Vietcombank
Securities' after-tax profits jumped 315.4 per cent over the same period last
year to reach VND40 billion (US$1.9 million) in this year's first quarter.
Sai Gon Securities,
one of the securities firms with the largest brokerage market share, also
gained VND303 billion (US$14.4 million) in after-tax profits. Other
securities firms that posted profits were Hai Phong Securities, Kim Long
Securities, Sai Gon–Ha Noi Securities, and Agribank Securities.
The growth of many
securities firms in the first quarter of this year mainly came from the
soaring brokerage revenue, which analysts attributed to the recovery in the
stock market.
Statistics revealed
that the VN-Index on the HCM City Exchange soared 17.23 per cent during the
first quarter. The southern bourse's total trading volume and value reached
7.69 billion shares and VND130.6 trillion (US$6.2 billion), rising by more
than 40 per cent and 69 per cent over the figures reported during the
previous quarter.
On the northern
bourse, the trading volume and value also strongly increased, with 4.7
billion shares traded during the first quarter of this year, increasing by 70
per cent, with the total value reaching VND47.5 trillion (US$2.2 billion),
more than doubling the figures recorded in the previous quarter.
Although the market
rebounded, 18 companies incurred losses in the first quarter, totalling
VND15.6 billion ($743,000). In addition, 30 companies had a turnover from
brokerage — their core business — of less than VND1 billion ($47,000), modest
in comparison with their total charter capital of VND5.44 trillion ($259
million).
Securities firms
could continue to encounter difficulty this year, after more than 60 per cent
(58 out of 94 companies) posted aggregated losses last year, the finance
ministry's statistics showed, as a result of the market decline in the past
few years.
The restructuring
of securities firms is underway, and the State Securities Commission had
previously said that it would create favourable conditions for the companies
to hasten the process through mergers and acquisitions.
Future FTAs
draw foreign investment
Foreign companies
are starting to pour money into
Among the many
sectors, garments and textiles, food, livestock and energy have received the
most attention.
According to Tran
Quang Nghi, general director of the Vietnam National Textile and Garment
Group (Vinatex), more than a dozen foreign companies from mainland
Nghi said foreign
businesses were seeking investment opportunities in the garment industry to
stay ahead of the TPP, which once signed would mean local companies would
enjoy tax free exports to member countries.
Yulun Jiangsu
Textile and Garment has also received an investment certificate for a $680
million fibre production textile and dye factory in Bao Minh Industrial Zone
in
In
The agricultural
sector is also attracting foreign capital.
Last month, nearly
20 French companies visited
According to Nguyen
Dang Vang, chairman of the Viet Nam Livestock Association, French businesses
wanted to cash in on untapped potential markets as future FTAs would open
bigger markets for livestock products along with the development of this
sector.
Meanwhile, Japanese
firms are keen on high-tech sector, with CEO of Sojitz Corporation Hideaki
Kato revealing plans to invest in 3-4 industrial zones in
Vo Tri Thanh,
deputy director of the Central Institute for Economic Management, said
However, he said
domestic businesses remained the backbone of the economy and local companies
should have rational development strategies to sharpen their competitiveness
while being able to collaborate with foreign partners.
However, the Viet
Nam Chamber of Commerce and Industry warned that
Oil firms
carry out first gas price hike of 2014
The retail gas
prices were raised by VND3,300 to VND8,000, or between US$0.15 and $0.38, per
12-kilogramme canister, depending on the type of gas, from May 1.
Do Trung Thanh from
the Sai Gon Petro Company, Ltd said that the retail price for SP gas would
increase by VND8,000 to VND391,000, or $18.6, for a 12-kilogram canister,
compared with the price at the beginning of April.
Meanwhile, Pham Anh
Tu from the Ha Noi Branch of Gas Petrolimex said that the retail price would
increase by VND3,300 to VND407,000, or $19.3, for a 12-kilogram canister.
This is the first
time that domestic gas prices have been increased after being reduced four
times since the beginning of 2014. According to the gas companies, the prices
have been raised because the global gas prices in May have increased by $10
per tonne to reach $817.5 per tonne, compared with the April prices.
Dong Nai
exports reach nearly $4b, up 17%
The southern
Aquatic products
topped the list with an increase of more than 81 per cent, followed by steel
(78 per cent), coffee (73 per cent), and cashew nuts (53 per cent).
The export of
garments, wooden products, computer and electronic components, machinery and
footwear increased from 12-31 per cent.
In addition to
maintaining trading activities with large partners from the US, Japan, and
the EU, local enterprises stepped up penetrating into Eastern Europe, South
America and Middle East markets, said Nguyen Tien Chuong, Chairman of the
Dong Nai Import-Export Association.
Viet Nam Rubber Group to sell SHS Securities stake
The Viet Nam Rubber
Group registered with the Ha Noi Stock Exchange, to sell more than 4.1
million shares of its stake at SHS Securities, from May 6 to June 4.
This was aimed at
restructuring the investment list of the Viet Nam Rubber Group.
Once the
transaction is complete, the Viet Nam Rubber Group will no longer be a
stakeholder at SHS Securities.
SHS posted
after-tax profit of VND72.4 billion ($3.4 million) in the first quarter of
this year.
Treasury
plans VND70 trillion government bond issue
The State Treasury
of Viet Nam has announced plans to issue Government bonds in the second
quarter of this year, worth around VND70 trillion (US$3.34 billion).
Of these, bonds
with three-year maturity would make up for 25.7 per cent, or VND18 trillion
($857 million), followed by five-year bonds with 24.3 per cent and two-year
bonds with 21.4 per cent value. The rest were bonds with maturity values of
below one year, and 10-year and 17-year bonds.
According to the
Ministry of Finance, the State Treasury raised government bonds worth VND83
trillion ($3.95 billion) in the first quarter of this year, making up for
35.8 per cent of the year's target.
DongA Bank
gets shareholder approval to explore acquisitions
Shareholders of the
joint stock DongA Bank have given the green light for its board to explore
mergers with or acquisition of other lenders as part of its restructure
plans.
Tran Phuong Binh,
its general director, said on the sidelines of the meeting that some banks
are interested in integrating with his bank.
At the annual
general meeting last Saturday shareholders also approved a plan to increase
chartered capital by VND1 trillion to VND6 trillion ($285 million).
Existing shareholders
will be entitled to buy one new share for every five they own at the face
value of VND10,000.
They approved the
appointment of former central bank governor Cao Sy Kiem as the new chairman.
This year the bank
hopes to increase its assets by 18 per cent to VND89 trillion, deposits by 20
per cent to VND78.5 trillion($3.7 billion), and outstanding loans by 10 per
cent to VND 63.6 trillion($3.02 billion).
Eximbank
sets profit targets high for 2014
The Eximbank
shareholders meeting this week approved the bank's pre-tax-profit target of
VND1.8 trillion ($85.7 billion) for this year, up from VND828 billion.
It also target
deposits of VND100 trillion($4.7 billion) and outstanding loans of VND97.3
trillion ($4.63 billion), respectively up 21 per cent and 10 per cent.
This year the bank
plans to open five branches and four transaction offices to take its network
to 217.
The meeting also
voted to retain Le Hung Dung, representing a group of four shareholders who
own almost 10.5 per cent of the bank's shares, as chairman.
Until now he was
chairman representing the State on the board, but his tenure came to a close
following retirement from the Government.
FPT deploys
e-bill system in Ha Noi
Starting from April
30, FPT Telecom will deploy the e-bill for its clients who are using its
telecom services in Ha Noi.
According to FPT
Telecom, the utilisation of the e-bill aims to implement the State policy on
encouraging businesses to deploy the e-bill in accordance with Circular
32/2011/TT-BTC.
The application of
the e-bill also aims to enhance customer services and make bill payments more
convenient for clients.
State
proposes price ceiling for milk products
The Prime Minister
approved the Ministry of Finance's proposal on applying a price ceiling on
milk products for children.
This is being seen
as one way of controlling the prices of these products in the coming time,
the ministry said, after it completed a month-long investigation of milk
prices and the local milk market.
Following a
directive by the Prime Minister, the ministry and the Ministry of Industry
and Trade investigated the price regulations and taxes at five milk producers
and traders from March 10 to April 10. These firms were the Viet Nam Dairy
Joint Stock Company (Vinamilk), 3A Nutrition (Viet Nam) Ltd Company, Nestle
Viet Nam Ltd Company, Friesland Campina Viet Nam Ltd Company and Mead Johnson
Nutrition (Viet Nam) Ltd Company.
According to the
investigation report released on Tuesday, last year and during the first
three months of this year, these companies increased the prices of milk
products for children less than 6 years old.
All five increased
the prices by 2.4 per cent to 30.66 per cent last year, while two of them,
Vinamilk and Nestle Viet
Therefore, the
finance ministry has asked these firms to seriously implement regulations on
listing prices for milk products for children less than six years of age.
The companies must
review and save business costs because spending on advertising, discounts and
marketing, which are part of the business costs, at the four firms, excluding
Vinamilk, exceeded the regulated level under the Law on Corporate Income Tax
for milk products for children in the said age group.
The high spending
on these activities forced the prices of milk products up by 2.18 per cent to
16.39 per cent, the ministry said.
They must also
review the prices of the said products to ensure that they are commensurate
with the spending and profit made on the products, it said.
The ministry said
at the Government's monthly meeting on Tuesday that the Government agrees
with the finance ministry's proposal on applying a price ceiling on the said
milk products. Additionally, these firms must register the prices of these
products with the state offices, as per the existing regulations.
These solutions,
which would be applied for the first time, are expected to stabilise the
prices of milk products for the time being, the ministry said.
If the proposals
are approved by the Government, the prices of these products could be reduced
by VND50,000 to VND70,000 per box, Nguyen Van Nen, the government spokesman,
said at the meeting.
The finance
ministry also said the investigators had found that Nestle had not informed
the authorities about some new prices which had brought in an extra VND5.2
billion, or nearly US$247,000, by the end of March, while the other four
firms had not made any tax declarations.
Vice minister Vu
Thi Mai said Nestle was fined VND45 million, while inspectors have collected
more than VND10 billion in further taxes from the rest of the firms.
Japanese businesses
are planning to import shrimp from
According to the
Viet Nam Association of Seafood Exporters and Producers (VASEP), the decision
was made due to the excessively high levels of OTC that were continuing to be
detected in Vietnamese shrimp shipments, despite prior warnings and the
public knowledge that virtually all Vietnamese shrimp exports were being
tested for the antibiotic.
VASEP asked the
Ministry of Agriculture and Rural Development's Directorate of Fisheries to
strictly control shrimp cultivating areas to prevent such a situation.
VASEP's figure
showed that 11 shrimp shipments to the EU and
It said the number
of shrimp shipments being returned by
The association
also warned that Japanese importers are planning to import shrimp from the
two above-mentioned countries as they have taken measures to reduce the OTC
level.
Japanese importers
have also guided shrimp processing factories in
Two weeks ago,
VASEP said the EU discovered OTC levels in some shrimp shipments from
It warned that the
EU would consider applying stricter measures on Vietnamese shrimp if
Earlier this year,
the association forecast that shrimp exports could reach US$3 billion this
year if the issues of breed and presence of chemicals were paid due
attention.
It also warned that
unless the local shrimp businesses strengthened self-regulation of OTC, they
would fail to penetrate the Japanese market as well as to meet the target of
making
Vietnamese
manufacturing sector reaches 3-year high
The Vietnamese
manufacturing sector continued its recent run of improvement in April as the
Purchasing Managers' Index (PMI) hit a new high, surpassing the previous best
achieved in April 2011, according to an HSBC monthly report.
The headline,
seasonally adjusted PMI – a composite indicator designed to provide a
single-figure snapshot of operating conditions in the manufacturing economy –
rose to 53.1 in April from 51.3 in the previous month.
Business conditions
have now strengthened in each of the past eight months, with the latest
improvement being the strongest in the history of the survey which began in
April 2011.
The rate of growth
in new orders received by manufacturers accelerated for the second month
running in April and was the fastest in the series history.
Improved client
demand and broadly stable output prices had reportedly contributed to higher
new orders. New business from abroad also rose at a record pace during the
month.
Higher new orders
and improved productivity led to a seventh successive monthly increase in
output in the manufacturing sector. The rate of growth quickened and was
second only to that recorded in April 2011.
Rising new orders
led manufacturing firms to increase their purchasing activity in April.
Furthermore, input buying expanded at a survey-record pace.
This contributed to
a first rise in stocks of purchases since October 2013 as some panellists
reported having increased inventories in response to expectations of further
growth of new business in coming months.
Manufacturers also
took on extra staff during the month, following a marginal reduction in
employment in March. Job creation has now been recorded in eight of the past
nine months.
Rising new business
contributed to an increase in the backlog of work, ending a five-month
sequence of depletion. Stocks of finished goods also accumulated in April,
albeit only marginally. Some panellists indicated that delays in the delivery
of goods to clients had contributed to the rise in inventories.
The rate of input
cost inflation quickened for the first time in four months. Respondents
mainly attributed the increase in input prices to higher shipping costs as a
result of new government rules.
This also reportedly
had an impact on supplier lead times during the month, with vendors lowering
the amount of goods they shipped.
Meanwhile,
manufacturing firms lowered their output prices for the second month running
Commenting on the
Vietnam Manufacturing PMI survey, Trinh Nguyen, Asia Economist at HSBC, said:
"The manufacturing sector is doing the heavy lifting in
"The strong
bounce of output, new orders, new export orders, and employment are much
needed to counterbalance the domestic slump.
"We expect
exports to have another stellar year, in contrast to the rest of the region,
due to increased investment into the country in manufacturing and trade
negotiations to expand market access.
"We expect
growth to accelerate slightly to 5.6 per cent this year from 5.4 per cent in
2013. Most of this will come from the manufacturing and service sectors as
construction and agriculture sectors lag behind."
Tai Yuen Co., Ltd,
a subsidiary company of the Taiwan-based Yunlon Group, will invest in a
project to build a textile mill worth US$150 million in the
Chi Wei Kung,
General Director of Tai Yuen, revealed the news at a working session with
provincial leaders on May 5.
The project,
covering around 24 ha in Dong Van II Industrial Park, Duy Tien district,
needs some 5,000 workers for its operation.
Construction will
begin in August and is expected to be completed in 12 months.
Once operational,
the mill will require around 1,500 cubic metres of water for its daily
operation in the first phase, and 2,500 cubic metres in the second
phase, said the business executive while expressing his wish that the
province will ensure a stable water supply for the factory.
He also pledged to
treat waste produced by the plant in accordance with
Yunlon is one of
FDI sector
helps maintain national trade surplus
Foreign direct
investment (FDI) have delivered an impressive performance in the past four
months, helping Vietnam enjoy a trade surplus of US$683 million, equal to
1.5% of the country’s total export value.
The Ministry of
Industry and Trade (MoIT) announced on May 5 that
The country has
shifted its focus on exporting processed industrial and farm products rather
than fuels and minerals.
Export earnings
from agro-forestry and fisheries products grew by 14% to US$7 billion, and
those from processed industrial products rose by 19.4% to US$33 billion.
Meanwhile, fuels and minerals dropped by 10.5% to US$2.9 billion in export
value.
Ten products with
export earnings of more than US$1 billion each were telephone handsets and
components (US$7.7 billion), garments (US$5.9 billion), footwear (US$2.8
billion), seafood (US$2.2 billion), machinery, equipment and tools (US$2.1
billion), means of transport and tools (US$2.1 billion), wood and timber
products (US$1.9 billion), coffee (US$1.6 billion), and crude oil (US$2.1
billion).
Most key export
markets achieved high growth, for example Asia (13.6%), West Asia (12.3%),
Europe (12.1%),
MoIT statistics
also show four-month imports surged 13.7% to nearly US$45.1 billion. Asia
ranked first among
It’s worth noting
that while FDI businesses enjoyed a trade surplus of nearly US$4.1 billion,
domestic businesses produced an import surplus of more than US$3.4 billion.
The MoIT said
difficulties in garment and agricultural product exports, especially in
e-customs procedure clearance and price competition, are barring
To fulfill the
target, the MoIT has asked relevant agencies to hold regular meetings with
businesses to remove difficulties relating to capital and market access, and
administration procedures.
The MoIT will
accelerate supplying information about export markets and anti-dumping price
to help businesses establish proper business strategies.
The ministry will
provide businesses with up-to-date information about world market fluctuation
so that they can avoid risks and promote exports.
Indonesia
probes into steel imports from Vietnam
The Indonesia
Anti-Dumping Committee (KADI) has initiated a preliminary investigation into
cold rolled steel imported from
The similar product
from
KADI has placed
anti-dumping tax margins of between 13.5-36.6% on the Vietnamese steel
product since December 2012 pending
Vietnamese
Ambassador to
He expressed hope
with its complete legal and tax systems,
The diplomat noted
the growing friendship between
At the meeting,
Vietnamese Trade Counselor Bui Vuong Anh provided detailed information
about exports, imports and investment between the two sides and evaluated the
potential for cooperation in maritime, trade, finance and banking, and
tourism services.
The event, first of
its kind, was co-organised by the Vietnamese Embassy in
The MPI says a
review of the importation has found that the risks associated with diseases
can be managed to achieve
In addition to the
common requirements for fresh fruits imported to
On May 1, the MPI
also modified regulations concerning the importation of Vietnamese mango –
another tropical fruit which has been a favourite with NZ consumers since
December 2011.
Experts hope the
two types of fruits will help
However, bilateral
trade remains modest, but bright spots on the horizon are beginning to
appear. Thanks to trade promotions over the years, two-way trade turnover
rose from US$187 million in 2001 to US$750 million in 2012 and US$723 million
in 2013.
In the first four
months of this year,
Since the ASEAN-
However, many
domestic businesses have not carefully studied the trade pact to take full
advantage of the incentives it offers, including highly reduced tariffs among
other things.
The
In the reverse,
AANZFTA also provides ample opportunity for
Specifically,
pursuant to the agreement, beef, lamp, dairy products and small plank will
enjoy significant tariff cuts in 2016. It is highly likely that imports from
Economists forecast
This underscores
the need of Vietnamese businesses to study
The event,
co-organised by the Vietnam Chamber of Commerce and Industry (VCCI) in Can
Tho and Mekong Promotion Club (Mekong PC), will focus on the region’s
advantages, including raw materials for agricultural development, diverse
terrain for eco-tourism, and the huge demand for infrastructure investment.
Experts will share
experience in making the regional investment climate attractive to domestic
and foreign businesses.
Nguyen Huu De,
Deputy Director of VCCI Can Tho, said the conference will provide necessary
information for businesses wishing to invest in the Mekong Delta,
contributing to developing an effective supply chain in the region.
Pham Thanh Khon,
Vice Director of the local Department of Planning and Development, noted that
the Mekong Delta is becoming an attractive destination for businesses due to
its improved investment environment.
He added that Kien
Giang, Dong Thap, Ben Tre and Can Tho in the region are among the top 10
localities having the highest Provincial Competitiveness Index (PCI) in 2013.
Tra Vinh
exports dragon fruits to US
Duc My Cooperative
in the Mekong Delta
Vu Cong Bang,
director of the Viet Seafood and Agricultural Products Company that helped My
Duc send the offer to US importers, said the product branded My Duc-Tra Vinh
is a favourite with American consumers.
The
Tra Vinh province’s
red flesh fruits are permitted by the Ministry of Science and Technology to
go abroad.
The provincial
Department of Science and Technology is assisting Duc My Cooperative members
in getting the VietGap certificate for their products.
Tra Vinh has more
than 65ha of red flesh dragon fruits mainly cultivated in Chau Thanh, Cau Ke,
and Cau Ngang districts with an annual output of more than 1,000 tonnes.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Ba, 6 tháng 5, 2014
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