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BUSINESS
IN BRIEF 27/6
FDI inflows
drop in first half of the year
The country
attracted US$6.85 billion in foreign direct investment (FDI) in the first
half of this year, down 35% as compared to same period last year.
According to the
latest report of the Foreign Investment Agency, of the total US$6.85 billion,
US$4.85 billion came from 656 newly-licenced projects while the remainder was
from 219 existing projects, which raised their levels of capital.
In a brighter spot,
the period's FDI disbursement saw a modest increase of 0.9% and was estimated
to touch US$5.75 billion.
The manufacturing
and processing sector absorbed the largest share of FDI, touching US$4.8
billion or 70.2% of the nation's total registered capital. Construction and
real estate trading industries ranked second and third, respectively.
Among the 41
countries and territories investing in
The economic hub of
Other ideal
localities preferred by foreign investors include the
During the January
to June period, the foreign-investment sector generated US$47.82 billion from
exports, a yearly rise of 17% or equivalent to 67.5% of the country's total
export turnover, while its imports reached US$39.29 billion, up 11.4%.
Government
pushes domestic rice exports
Ministries and
related sectors should closely follow the development of rice markets at home
and abroad and expand trade promotion activities for increasing Vietnamese
rice exports.
Deputy Prime
Minister Hoang Trung Hai said that Government has issued a notice, focusing
on the rice export situation in the past and on solutions for increasing rice
exports in the future.
The Ministry of
Industry and Trade (MoIT) will identify traditional rice export markets as
the leading targets of export promotions and continue management of rice
exports to markets having Government contracts, Hai said.
He added that the
MoIT, the Ministry of Agriculture and Rural Development (MARD) and the
Vietnam Food Association (VFA) will jointly follow the development of the
world rice market and ensure balance between the domestic market's supply and
demand for commercial rice and the real rice export situation in the world
market. This will help the ministries and the related sectors to have
effective solutions for increasing rice exports.
The MoIT and VFA
will report to the Prime Minister the rice export situation of Government
contracts to have reasonable management of exports to the markets coming
under these contracts.
The ministry, VFA
and related sectors will enhance trade promotion activities for rice product
exports to traditional and new markets, implement efficiently the memorandum
of understanding (MOU) on commercial activities for rice and other farming
products and promote the signing of MOUs on trading activities with countries
which import large quantities of rice.
The trade offices
of
The MARD, MoIT and
VFA will build
The VFA must
suitably adjust the floor price of export rice as per the supply and demand
in the domestic market and forecast rice exports to avoid any disadvantages
for Vietnamese products, Hai said.
In the first 19
days of June, Asia continued to be the largest export market for Vietnamese
rice with an export volume of 267,500 tonnes, accounting for 76% of the total
volume, followed by
Early this year,
the association planned to export 6.5 million tonnes of rice in 2014 due to
the high competitiveness in the world market.
Last year,
EU a key
Vietnamese shrimp consumer
The EU is now the
third largest importer of Vietnamese shrimp, trailing behind the
The EU’s shrimp
imports have bounced back for more than a year thanks to the grouping’s
economic recovery.
VASEP statistics
show
In the first two
months of this year alone, Vietnamese shrimp exports to the EU also increased
by a staggering 49% compared to the same period of 2013.
Dong Thap
studies Dutch experience in horticulture
A delegation from
Dong Thap province recently completed a fact-finding tour of the
Dong Thap signed a
cooperation agreement to construct a hi-tech agriculture centre in Dong Thap
with the Dutch Demokwekerij Westland Centre and the Vietnam Business Centre
(VBC) in the
The tour comes hot
on the heels of the recent
Most notably, VBC
inked a cooperative agreement with Sa Dec City on the development of a flower
city, trade and tourism promotion, and a bonsai and flower logistic
distribution centre.
Dutch businesses
that accompanied the PM also worked with Dong Thap leaders, discussing a
feasibility study of a hi-tech agriculture centre in Dong Thap.
Dong Thap and the
The
Potential
for exporting construction materials to Middle East
Most Middle Eastern
countries, particularly
Nguyen Quoc Hai
from the Vietnam Trade Office in
Experts said that
Saudi Arabian businesses have tended to drift away from the traditional
export markets of the
One of the
appealing attributes of the Saudi Arabian market is that it is one of
countries which impose the lowest tax on imports. All imported products are
assessed a conservative low 5% tariff across the board.
In addition, the
country does not introduce an income tax or valued added tax (VAT).
Each year the
country requires around 60 million tonnes of cement and 25 million tonnes of
construction steel to satisfy its construction needs. Given the market is
there, Vietnamese businesses need to devise the proper strategy to access and
penetrate it.
Tran Quang Huy,
head of the Africa,
In addition, due to
the climate in the region, these markets do not have adequate timber and wood
materials and must, of necessity, rely heavily on imports of these products.
Meanwhile,
consumers in these markets are keen on wood furniture, products that
Vietnamese businesses are fully capable of competitively providing.
However, Vietnamese
businesses should be prudent to carry out their market research, and
particularly careful about marketing and promotion campaigns as
Export products
must also comply with rigid quality and packaging standards as well as a host
of environmental protection and consumption regulations, he said.
Furthermore,
Vietnamese businesses should be proactive in the competitive bidding
processes in the
They are advised to
make contact with agencies inviting bids for construction projects or bid
winners to exchange and boost the export of construction materials and timber
products to these markets.
Formosa
proposes special steel zone in Vung Ang
The proposal was
submitted to Deputy Prime Minister Hoang Trung Hai through an official letter
1406022/CV-FHS recently, after many requests on exemptions for all kinds of
tax, reported cafef.vn.
According to the
FHS, establishment of the special region is aimed at building the Son Duong
deep-water port, and ensuring investment to the related industrial sectors of
steel and electricity to promote industrial investment.
The company has
proposed regulation on managing the special region located in Vung Ang, Ha
Tinh central coastal province, as well as incentives for investment projects
at the region.
It has also
suggested a board under the Government's management for the region.
Earlier, the
Government agreed to offer import tax incentives to the Formosa Ha Tinh Steel
Project to create favourable conditions for the project's implementation.
These include exemption of import taxes on a number of machines and
equipment, creating fixed assets for the giant steel and port project and
exemption of the natural resource tax on its sand sucking to level the
project's surface.
The steel project
is considered one of
The steel project
is considered one of
Deputy Prime
Minister Vu Van Ninh made the commitment at a June 25 forum in
Ninh said the
organisation of the forum shows the desires of bankers of both sides to
establish partnerships, and facilitates trade exchanges between
He hailed progress
in trade ties between ASEAN and Africa with the Francophone community, noting
that two-way trade value between
However, he said
the figure is not commensurate with both sides’ potential that requires
greater efforts from community members.
Vu Tien Loc,
President of the Vietnam Chamber of Commerce and Industry, said Vietnamese
exports to
He pointed out the
fact that most African banks have yet apply modern payment methods like
deposits or deferred payment, posing risks to Vietnamese businesses.
In addition, high
transport costs, a lack of information, and limited trade promotions also
affect trade development between the two sides.
Loc suggested
completing a cooperation mechanism between
Sylvere Bankimbaga,
Deputy General Director of the Burundi Commercial bank, echoed Loc’s view,
saying a complete mechanism is needed to facilitate the movement of financial
flows, by reducing transaction costs through intermediaries.
He also underlined
the need to increase the exchange between bankers to promote mutual
understanding, making it easier for payment among credit organisations.
Japanese
investors target deals in Vietnam
Japanese investors
are eyeing
The statement was
recently made by Duangdej Yuaikwarmdee, Deputy Managing Director of Reed
Tradex Company in a discussion regarding Japanese foreign direct investment
(FDI) in
Japanese FDI
currently is principally concentrated in the high-tech and industrial sectors
and accounts for 22% of Hanoi’s total foreign investment, generating roughly
130,000 jobs and contributing US$109 million annually to the City’s budget,
he said.
Vietnamese and
Japanese SMEs also have great potential and distinct advantages for
cooperation in the areas of finance, banking, health and human resources
However,
Seiji Masuda, CEO
of Sanko Fastem Company, in turn said that
With the
ever-increasing number of factories sprouting up throughout
The Vietnam
Manufacturing Expo 2014 (VME) is an effective marketing tool for our company
where we have the opportunity to explain and guide customers to use our
products, Masuda said.
To assist the
development of support industries in
Penetrating
African and Middle
Eastern countries are potential markets having a high import demand for food,
agricultural, seafood and consumer products that are
The remark was made
by Pham Trung Nghia, Deputy Head of the Africa, West Asia and South Asia
Markets Department (AWASAMD) under the Ministry of Industry and Trade at a
seminar in
Nghia said
Vietnamese products have initially managed to gain a firm toehold in
As an added
advantage, many African countries have trade pacts with the
Similarly, the
Tran Thi Lan Huong,
Deputy Editor-in-Chief of the
Meanwhile, a number
of other products such as seafood, vegetables and fruit have yet to gain
widespread acceptance, and the African and
To seize the
opportunities and capitalize on the opportunities presented,
Specifically,
However, Vietnamese
businesses should be somewhat wary, and require their cooperation partners to
place a security deposit at least 30% of the contract’s value in advance through
the Vietnamese Trade Office. This will serve to minimise risks, AWASAMD
leader Thu warned.
The MoIT is
organizing more fact-finding tours to assess and capitalize on the full
potential of key markets in Africa and
Minister of
Industry and Trade Tran Tuan Anh led a delegation from the agency on a
working visit to
At a working
session with
The agreement
concentrates on bolstering short and medium-term industrial cooperation in
light industry and the production of consumer goods to serve the domestic
markets of both nations.
It provides
Vietnamese businesses enhanced opportunities to increase their investments in
the garment and textile sector in
At the meeting with
leaders from
Anh suggested that
the host country create a
Representatives
from
For his part,
Deputy Minister Eloy Alvarez, echoed their sentiments pledging that
Petrol
prices reach record highs in Vietnam
Petroleum traders in
The Ministry of
Finance and the Ministry of Industry and Trade said the price hike took
effect from 8pm on June 23.
Petrol prices
reached record high on June 23.
As a result, prices
of gasoline were raised by VND330 per litre, kerosene by VND170 per litre and
fuel oil by VND270 per kilo. Prices of diesel were kept unchanged.
The ministries said
that the price hike was a result of the recent sharp increase in the world
petroleum market.
In addition to the
price hike, the Ministry of Finance requested petrol companies to decrease
their use of of the petrol price stabilisation fund from VND440 per litre to
VND300 per litre for gasoline, and from VND410 to VND300 per litre of fuel
oil. They were also asked to halt the use of the fund for diesel and kerosene
prices.
The price hike has
brought petrol prices in
This is the second
petrol price adjustment within two weeks. On June 12, the price of diesel was
lowered by VND150 per litre and kerosene by VND110 per litre.
While municipal
authorities in
Authorities of
As of now, the
ground clearance rate has only reached 30%. The Government Inspectorate once
suggested the revocation of licenses from a number of investors. But
authorities of
On the other hand,
investors have said that procedures should be more flexible and
comprehensive. This, they say, would allow them the time to complete projects
as quickly as possible.
Nguyen Thi Nhu
Loan, Chairwoman of Quoc Cuong Gia Lai Group, the investor of the Phuoc Kieng
urban area said the scale of the project is about 90 hectares. They cleared
60 hectares, clearance became an issue after the surrounding residents
disagreed.
Current regulation
stipulates that any investors or enterprises must negotiate terms of
clearance before construction presumes, putting the onus on them.
Loan said they were
asking authorities to allocate the first 60 hectares for construction or they
would run out of time. "The authorities told us the project would be
open for bidding again. We had already taken on VND1.5 trillion in loans. If
we actually had to go through all the complicated paperwork again, the
interest would have increased by VND180 billion, and customers would have
suffered from losses as well."
The local
Department of Natural Resources and Environment said that in any case in
which investors want to stick with those stagnant projects, the department
will give administrative consultation and municipal authorities might even
decide to give assistance to investors who have completed 80% ground
clearance.
Le Hoang Quan,
Chairman of HCM City People's Committee, said they would review each project
carefully. Investors of several certain projects will be supported, but
incapable investors licenses would be revoked.
Efforts
made to protect domestic production, customers
The National
Steering Committee for anti-smuggling, trade frauds and counterfeit goods
(called the Steering Committee 389 in short) on June 24 announced the
establishment of its Standing Office to help further protect domestic
production.
At the ceremony,
Deputy Prime Minister Nguyen Xuan Phuc confirmed that the Government,
ministries and localities nationwide have worked very hard to combat trade
frauds, smuggling and the trading in counterfeit commodities.
The illegal
activities are, however, taking place in a more complex manner on a larger
scale, badly affecting consumers’ health as well as social order, he noted.
Dealing with the
situation, the Steering Committee 389 Office, which will sit at the
headquarters of the Customs Office, is expected to make sizeable contributions
to fighting the trading in contraband, counterfeit goods, and trade frauds,
stabilizing the macro-economy and safeguarding domestic production, Phuc
said.
Earlier, on June
15, the Department of E-commerce under the Ministry of Industry and Trade
introduced a system to assess the trustworthiness of e-commerce websites in
The system will
evaluate each e-commerce site basing on credibility, payment method, internet
environment and quality of traded products. The result will be published on
the trade and industry ministry's website at www.moit.gov.vn.
Online trade has
experienced growth, thanks to its convenience and diverse offerings of goods.
The sector generates revenue of 2 billion USD each year in
However, recent
cases of fraud by e-commerce websites have raised serious concerns among
consumers over the credibility of this model of trading.
It is expected that
the e-commerce website evaluation system will help improve the e-commerce
environment and protect consumers from fraudulent websites.
Business
confidence still fragile
The business
confidence in this year’s first half has improved a little compared to the
end of 2013, but the business outlook this year still looks fragile,
according to a survey conducted by the Vietnam Chamber of Commerce and
Industry (VCCI).
The survey
conducted by VCCI’s Enterprise Development Institute in late April and early
May among 500 domestic businesses shows that the so-called move index in the
first six months stays at minus five points compared to minus 21 points a
year earlier.
The move index is
the difference between the number of optimistic enterprises and the number of
those saying the situation will be worse.
Doan Thi Quyen from
the institute said at the survey announcement in
More enterprises
expect growth in output in the second half of this year, according to the
survey.
In the first five
months, 22% of enterprises achieved their revenue target, 28% met more than
90% of their goal, more than 16% reached 70% of target and 34% had revenue
under 70% target.
The VCCI report
also warns that some macroeconomic factors, especially import-export, forex
and financial market, can pile pressure on economic growth in the last six
months this year.
Ministry
submits final draft on petrol trading
The Ministry of Industry
and Trade, recently submitted its final draft of the amended Decree to the
Government on the trading of petrol.
The Decree No
84/2009/ND-CP, issued in 2009, allowed traders to control the retail price of
petrol in the local market. Accordingly, traders were able to increase the
retail price by 7 per cent if wholesale prices surged by the same percentage.
However, the draft,
if approved, will allow traders to increase the retail price by only 3 per
cent irrespective of the fluctuation in wholesale prices.
The draft says,
additional cost will be calculated and managed by the State Price Management
Agency, adding that if the wholesale prices increase more than 7 per cent,
the Government will step in to manage fuel prices in the market.
According to Industry
and Trade Minister Vu Huy Hoang, the draft will bring local fuel prices more
in sync with world prices and boost competitiveness among petroleum firms. It
will also end monopoly and serve consumers better.
However, economist
Ngo Tri Long told danviet.vn that the draft, which still lets traders control
prices, does not help consumers at all. Long said the local fuel market did
not have any real competition as over half of the total 21 fuel traders were
part of the Viet Nam National Petroleum Group or Petrolimex.
Economist Vu Dinh
Anh added that among 11 petroleum importers in
Anh suggested that
the State should determine the market price by setting a ceiling price on
fuel products so that traders have to strive to reduce the cost of fuel
management, lower prices and attract customers.
The ministries of
Finance and Industry and Trade announced higher retail prices for petrol,
kerosene and mazut from 8pm on Monday.
Petrolimex, the
country's largest fuel wholesaler increased the price of fuel. Each litre of
petrol cost another VND330 (US$0.015) at VND25,230-25,730 ($1.20-1.22) while
an addition of VND170 was put on kerosene, which was now VND22,540 ($1.07).
Mazut was also sold at VND18,860 ($0.89), an increase of VND270 ($0.012) per
litre. —
Jetstar
Pacific to launch HCMC-Hue service
Low-cost carrier
Jetstar Pacific will launch a new service connecting HCMC and
Jetstar Pacific
will use Airbus A320 aircraft with 180 economy class seats for its daily
service between the two cities.
The flight departs
at 10:25 a.m. from HCMC and the return flight takes off at 12:20 p.m. from
Jetstar Pacific now
flies to HCMC,
Two other domestic
airlines, Vietnam Airlines and VietJetAir, also have flights on the HCMC-Hue
route.
HCMC-based store
chain operator Saigon Co.op is helping farmers in
Saigon Co.op said
since early this month its Co.opMart supermarket chain and Co.op Food store
chain have launched programs aimed at boosting fruit consumption with litchi
being put on top of the list.
Saigon Co.op has
also conducted surveys at litchi farms to evaluate the production process of
the fruit so as to ensure the product’s quality for consumers and good prices
for both growers and itself, avoiding the prices being manipulated by
traders.
This month, Saigon
Co.op has helped growers consume an estimated 200 tons of litchi and it
expects to raise the volume to around 500 tons by the end of the month.
From late March to
early April, Saigon Co.op in the central region also ran an ad-hoc promotion
to increase sales of the fruit to help growers after
Transport
ministry reports big earnings from SOE sales
The Ministry of
Transport has posted VND1.9 trillion-plus revenues from equitization of
State-owned enterprises (SOEs) under the ministry in the first half of this
year.
A report on SOE
restructuring in the first half and tasks for the second half this year says
10 enterprises in the sector have finished equitization as scheduled. For
instance, Civil Engineering Construction Corporation 8, or Cienco 8, has
completed its scheme to go public earlier than expected.
Of the total VND1.9
trillion, over VND1.12 trillion has gone to the SOE restructuring and
development fund while the firms retained nearly VND839 billion.
In addition,
enterprises under the ministry have plans to divest their holdings worth over
VND228 billion from other entities this year.
Vietnam Airlines
has pulled out of Bao Minh Joint Stock Corporation, getting back nearly VND58
billion. The national flag carrier estimates to recover VND7.2 billion from
Hoa Binh Securities Company, VND14.8 billion from Air Service Supply Joint
Stock Company and VND3.5 billion from Aviation Logistics Services Joint Stock
Company.
This year, Vietnam
Airlines expects to have over VND83 billion through its divestitures from
four companies.
Vietnam National
Shipping Lines, or Vinalines, has withdrawn over VND35.6 billion from six
firms. Cienco 1 has also taken back over VND110 billion from two businesses.
Meanwhile, Vietnam
Motors Industry Corporation has collected VND19.5 billion from two companies
while Vietnam Waterway Construction Corporation has fetched VND4.9 billion.
Vietnam Railways
Corporation has also hired consulting firms to evaluate 13 enterprises, from
which it expects to get back VND53.4 billion.
Concerning
bankruptcy, Vinashinlines filed for bankruptcy in
Shipbuilding
Industry Corporation (SBIC) reported that it has dissolved 12 units so far.
SBIC plans to dissolve another 50 units in the future.
Emirates
appoints new country manager for Vietnam
Emirates, one of
the fastest growing international airlines, has appointed Mohammad Sarhan as
its new country manager for Vietnam.
Graduated as a
mechanical engineer, Mohammad Sarhan started his career as a project engineer
in Dubai. Then he joined Emirates and has been working in the aviation
industry for eight years. Having held the country manager position in Ivory
Coast and Greece, Sarhan’s capacity in aviation, combined with his passion
and commitment, promises to bring about an innovative element to the Emirates
team in Vietnam.
In the role, he
takes the mission of growing Emirates business and brand, and making Emirates
the ideal airline of choice for both locals and foreigners in Vietnam.
“Emirates’ daily
flight from HCMC to our Dubai hub not only offers Vietnamese travelers
convenient connections to more than 140 destinations across 80 countries and
territories, but also the award-winning cuisine and entertainment services
that Emirates prides itself in gratifying any gourmet passengers,” said
Mohammad Sarhan in a statement.
Emirates operates
daily direct route between HCMC and Dubai using the Boeing 777-200ER,
offering Business and Economy Class seats, with world-class cuisine and the
award-winning in-flight entertainment system.
Taiwanese
firms value Binh Duong’s investment climate
About 1,000 of
5,000 Taiwanese enterprises in Vietnam are operating in Binh Duong province,
and they highly value the improved investment climate in the southern
province, an executive from Taiwan (China) has said.
Soddy Huang, Vice
President of the Association of Taiwan Investment Enterprises on the mainland
China, made the remark on June 24, when his Kingtec Group signed a contract
renting 16 hectares of land in Binh Duong to build a factory.
When operational,
the plant, with its first phase worth 30 million USD, in My Phuoc No.3
Industrial Park will manufacture lighting devices of all kinds for export.
At the signing
ceremony, Chairman of the Binh Duong People’s Committee Le Thanh Cung pledged
best possible conditions for Kingtec to expand its operation.
In the first half
of 2014, Binh Duong attracted 990 million USD of foreign investment from 74
new and 60 existing projects, fulfilling 99 percent of its yearly plan.
Currently, there
are 2,305 foreign businesses in the province with a total registered capital
of nearly 20 billion USD.
Binh Duong
takes measures to attract more foreign investment
The southern
province of Binh Duong has pledged to create more favourable investment
conditions and ensure that the province remains an ideal destination for
foreign investors.
Le Thanh Cung,
chairman of the provincial People's Committee on June 24, told Viet Nam News
that the province had attracted over US$1 billion in foreign direct
investment since the beginning of the year.
The figure for the
entire year would be higher than the figure last year, he said.
Cung also said that
the volume of new capital was equal to the amount of additional capital, an
indication that investors still had confidence in the province.
The chairman added
that about 80 per cent of companies affected by protests in May that broke
out about China's placement of an oil rig in the East Sea had resumed
production and were expected to regain full capacity.
Yesterday, a
Taiwanese company, the Kingtec Group, signed a land-lease contract with
Becamex IDC Corporation to build a plant on 16 ha at My Phuoc 3 Industrial
Zone in two phases (with the first phase worth US$30 million).
Soddy Huang,
chairman of the Kingtec Group, said the company had chosen Binh Duong because
1,000 of the 5,000 Taiwanese investors operating in the country were located
in the province.
Moreover, he said
the local investment environment had improved day by day.
The plant, which
will produce lighting products for export to the EU and the US, will begin
operations within one to one and a half years. Machinery will be imported from
mainland China.
French
market holds potential
France's stable,
transparent trade and investment policies make it an attractive market for
Vietnamese goods, declared head of the Ministry of Industry and Trade's Trade
Promotion Agency Bui Thanh Son.
Addressing a
meeting in France's Vel-de-Marne Province on Monday, Son also described
France as an important gateway for Vietnamese products to penetrate the wider
EU market.
There remained
untapped opportunities for both business communities after the Viet Nam-EU
Free Trade Agreement, which is slated to be completed later this year, Son
said.
During the event,
representatives from Val-de-Marne Province detailed the local enterprises'
financial potential and strength and the province's legal incentives for foreign
firms operating in the area and for those that seek to bolster co-operation
with local firms.
Jacques Fouvel, a
representative from the French giant food retailer Casino Group,
headquartered in Val-de-Marne, expressed his delight at the success of the Big
C chain in Viet Nam.
Casino planned to
expand its presence in Viet Nam, he noted, adding that it also expected to
retail high-quality Made-in-Viet Nam products globally through its worldwide
supply chain.
France is one of
the leading trade partners of the EU. Last year, bilateral trade hit a record
high of 3.5 billion euros (approximately US$4.76 billion). Of the total, Viet
Nam enjoyed an export surplus of 2 billion euros (about $2.72 billion).
Among the
Vietnamese export items recording high value were garments, seafood and
electronic machinery and their components.
Earlier this year,
the Ministry of Industry and Trade had encouraged businesses to focus on
consumer goods customised for the preferences of French low and middle income
segments.
According to the
ministry's Import-Export Department, these segments remain fertile ground for
Vietnamese products, which account for a mere 2 per cent of the markets,
excluding footwear, which claimed nearly 10 per cent.
Oil prices
push CPI up by 0.3% in June
The country's
consumer price index (CPI) inched up 0.3 per cent in June as against May amid
a petroleum and gas price hike, according to the General Statistics Office
(GSO).
The petroleum price
increased 0.15 per cent in June while the rising figure of gas was 1.43 per
cent, the office reported.
Deputy Director of
the GSO's CPI Department, Do Thi Ngoc, said that the index's rise in June was
relatively high, when compared with the 0.05 per cent increase in June 2013
and the 0.26 per cent decline in June 2012.
It was also the
highest surge in the past few months. The CPI in May decreased 0.44 per cent
before it rose 0.08 per cent in April and 0.2 per cent in May, Ngoc said.
As many as 10 out
of the 11 baskets of goods contributing to the calculation of the CPI data
saw their prices increase this month. Prices of medicine and health-care
reported the highest price hike of 0.74 per cent, in the wake of a sharp hike
in health-care service fees in HCM City, from June 1.
According to a
decision by the HCM City's People Committee, higher charges will be applied
to 2,000 types of medical services, including check-ups, beds for in-patients
and technical services as well as surgery costs, in the city's 378 public
hospitals.
Prices of housing
and construction material (including rent, electricity, water, fuel and
construction materials) came second with a rise of 0.61 per cent.
In June, prices of
food and foodstuff, which account for the largest slice of the CPI cake,
increased by 0.28 per cent.
On the down side,
prices of postal services and telecommunication baskets fell by 0.13 per cent
this month.
Not included in the
CPI components, gold prices in June dropped 0.12 per cent on month and lost
9.79 per cent on year while the US dollar prices this month gained 0.49 per
cent on month and 0.57 per cent on year.
In the urban areas,
this month's CPI edged up 0.3 per cent on month while the index rose 4.49 per
cent on year in rural areas.
Quang Ninh
bans sale of rare plants
The northern
province of Quang Ninh Province has officially banned all sales of rare and
precious plants to foreign traders.
The provincial
People's Committee has asked the agricultural and science and technology
sectors and local authorities to compile a list of rare and precious plants
that would be banned from export, it said.
The move aims to
stop the collecting, breeding and gene enrichment of rare plants by foreign
traders.
In recent years,
foreign traders, mainly from China, had purchased large quantities of
Vietnamese crops such as champa rice, black sticky rice and Hoa Vang sticky
rice, as well as fruit trees and herbal plants, local authorities said.
These traders have
reportedly used different methods to acquire the plants under the guise of
tourists and relatives. Some even paid in advance to collect as many plants
as possible.
They also hired
local people to transport the plants through the border.
Most precious
plants were mixed with other ordinary varieties to avoid detection.
In Quang Ninh Province,
Chinese traders have been purchasing medicinal plants such as Phong Ba trees
(Heliotropium foertherianum), Kim Tuyen orchids (Anoechilus roxburglihayata)
and Ba Kich trees (Morinda officinalis How) for high prices since 2010.
For example, Kim
Tuyen orchids are sold for VND1.6 million (US$76) per kilogramme, encouraging
local people to over-exploit the trees in Binh Lieu District.
Vice chairman of
the committee Dang Huy Hau said the purchasing activities of foreign traders
was becoming more common and large scale.
Loose management of
rare and precious plants, weak co-operation between authorised agencies and
low awareness of local people had made the situation worse.
Pham Van Phat,
deputy director of the Department of Agriculture and Rural Development, said
the province would keep a close watch on the sale of rare plants to keep it
under control.
SOEs
classified into three groups for equitisation
Enterprises which
have over 50 per cent State stakes and are to be equitised will be classified
into three groups, Prime Minister Nguyen Tan Dung stipulates in Decision No
37/2014/QD-TTg dated June 18.
Based on the State
stake ratios, the groups are: from 50 per cent to below 65 per cent, from 65
per cent to below 75 per cent, and 75 per cent or more.
The first group
includes companies dealing in urban water supply and sewerage, urban
lighting, environmental sanitation, natural resource exploration, seed
plantation and basic chemical production, rubber growing and processing, and
railway and international seaway transport.
The second group
lists such areas as petroleum and natural gas processing, cigarette
production, aviation, electricity distribution, banking and finance. It also
consists of businesses stabilising the medicine, food and petroleum markets,
as well as those managing forest plantation and improving people's lives in
remote areas.
The third group
mentions firms involved in the management, exploitation and maintenance of
airports and terminals, national seaports, domestic road and waterway
systems, telecommunications infrastructure, mineral, petroleum and natural
gas.
Dung says the
classification is a basis for speeding up the reorganisation and innovation
of State-owned enterprises (SOEs).
He urges
ministries, Government agencies, provincial people's committees and economic
groups to review SOE reorganizing plan for the 2014-15 period and submit to
him in the third quarter of this year.
He requests State
stakes to be wholly maintained in enterprises for 16 sectors, including
businesses involved in national defense and security, explosive material and
poisonous chemical supply, national electricity transmission and railway
operation.
The sixteen also
consists of post services, maritime, lottery, publishing, money printing and
casting, irrigational works management, plantation of protective forest,
policy lending and business sectors that require strategic know-how.
The new decision
replaces Decision No 14/2011/QD-TTg and will take effect on August 6.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Sáu, 27 tháng 6, 2014
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