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BUSINESS
IN BRIEF 6/6
HCM City
hosts Vietnam- Singapore Biz Forum
The annual
Vietnam-Singapore Business Forum 2014 (VSBF) opened in
The three-day event
aims to offer a platform to exchange business ideas, tackle current
challenges and develop a bilateral strategic partnership.
Among participants
were Singaporean giants AscendasProtrade,
In the framework of
the forum, delegates will visit a number of businesses, including Mapletree
Business City, Ascendas-Protrade Singapore Tech Park, and Vietnam Singapore
Industrial Park No.1 (VSIP I).
Many businesses
showed their keen interest in priotized areas in the two countries’ strategic
partnership - financial services, agro-forestry and fishery sectors, tourism,
real estate, and the environment. Vietnam Chamber of Commerce and Industry
(VCCI) Vice Chairman Doan Duy Khuong said both Vietnamese and Singaporean
businesses are looking towards the establishment of an ASEAN Economic
Community (AEC) in 2015.
“We hope that VSBF
2014 will help create bilateral business links and boost regional economic
integration process,” he noted.
Tan Soon Kim, a
senior official from International Enterprises Singapore (IE Singapore),
highlighted that successful bilateral ties have offered many business cooperation
opportunities for both countries.
In Asia, he said,
By May 2014,
In May alone,
in Vietnam.By April
2014,
The government
should help home enterprises enact a strategy on improving business climate
and national competitive edge, first introduced in March, economic experts
suggested at a workshop in
The event came as a
mere one-third of localities nationwide have come up with plans to realise
the strategy, known as Resolution 19, which lists a set of measures meant to
enhance administrative reforms, helping firms save processing time and costs.
Director of the US
Agency for International Development, Joakim Parker, said his agency is
willing to assist
If successful,
Under the strategy,
the country sets the goal of meeting the standards of the ASEAN-6 group in
terms of business licensing and insolvency, tax payment, customs formalities,
access to electricity supply and credit, and investment protection by 2015.
The event was
hosted by the Central Institute for Economic Management.
Leaders of the
northern port city of
During a meeting
with representatives from local firms in Vinh Bao district and the Taiwan
Business Association in
He vowed that the
city will directly settle all obstacles arising during their operations.
According to
Chairman of the municipal People’s Committee Duong Anh Dien, the situation in
the city has remained stable thanks to joint efforts of the local authorities
and residents, as well as the cooperation of foreign investors, including
those from
Currently
Dien suggested that
the Taiwan Business Association will further their cooperation with
Representatives
from the participating firms and the association thanked the city’ leaders
for their close support, expressing their desire to expand their operations
in the locality.
Binh Duong
dishes out licenses for FDI projects
On June 4, the
southern
Nine of the
newly-licensed projects are funded by
Chairman of the
Binh Duong provincial People’s Committee granting investment license to
Chinese businesses
Binh Duong
provincial leader welcomed investors and encouraged them to expand operation
in the province for mutual benefit.
Chief investors
highly valued the favourable conditions and efforts by the Binh Duong
provincial People’s Committee and relevant agencies to facilitate business
operations in the province.
They pledged to
disburse investment capital as soon as possible to enjoy fresh growth of the
local economy in the coming time.
Over the past five
months, Binh Duong attracted more than VND4,200 billion from domestic
investors and US$978 million in FDI, fulfilling approximately 98% of its
yearly target and 15% higher than the previous year.
Doosan Vina
announced that the eighth and final shipment of the first “Made in
The two 800 MW
super-critical coal-fired boilers weighing over 13,000 tons, represent a
giant leap in
The two 800 MW
Kudgi “Supercritical Once-Thru Boilers” will deliver 2,550 tons of high
pressure steam per hour and operate under extreme temperatures of up to 569
degrees celcius and pressure levels of 271 kilograms per square centimeter.
Doosan Vina is one
of only a handful of companies worldwide that are certified by ASME to
manufacture these high tech power plant boilers.
The project
required eight shipments in total and the 13,102 tons of coils, panels, headers
and links will be assembled on site in India and then begin producing power
to fuel India’s development.
“We’ve worked hard
on this history making project and are proud that another Vietnamese made
power plant boiler is out there generating power for our neighbors in India;
each time we complete a boiler Vietnam’s reputation as a global player in the
energy sector increases, bringing us more and more customers from around the
world,” said To Lan Phuong, Manufacturing Engineering Section Manager.
Businesses
urged to expand markets overseas
Diversifying
markets overseas is an effective way to sustain
Experts made the
recommendation at a conference to address a fall in farm produce exports to
They agreed that
the pressure from the territorial dispute has now directly spilled over into
trade relations between
Agriculture
ministry statistics show farm produce exports to
The Ministry of
Industry and Trade (MoIT) said that despite
MoIT Vu Huy Hoang
said
However, he
emphasised the need to diversify markets to reduce reliance on
The MoIT is
currently working with
The MoIT pledged to
complete the signing process in the coming time.
Energy technology
firms from
Many State and
private businesses of
During the May
21-23 event, big Korean companies such as Korea Western Power Co. Ltd,
Taekwang Power Holdings Co. Ltd, and Korea Hydro and Nuclear Power Company
organized workshops, introducing advanced technology to Vietnamese firms and
their plan to penetrate the Vietnamese market.
About 90 stalls of
at least 70 Korean companies operating in the fields of power production,
energy saving, water supply and waste treatment drew thousands of visitors to
the exhibition.
More
domestic consumers put purchases on credit
Consumer habits of
Vietnamese are changing, with an increasing number looking to purchase their
desired products through affordable loans.
Igor Prerovsky,
General Director of Home Credit Vietnam, invested by PPF, said at June 3
conference on consumer finance that consumer credit, which helps consumers
buy their desired items and pay later, is expanding in Vietnam.
Statistics released
by Home Credit showed that around 20% of consumers in the country's southern
part make purchases on credit while it accounts for around 10% in the north.
These figures are showing signs of increasing.
Prerovsky pointed
out that consumer finance is another way to contribute to economic
development through boosting purchasing capacity and demand, while enhancing
living standards of consumers.
This also helps
consumers to form a habit of saving, he added.
In addition,
financial companies targeted low-income earners rather than the middle-class,
in comparison with retail banks.
Home Credit, with
more than 5,000 points of sale in all 63 provinces and cities in
Small and
big firms meet to sound out business prospects
Large companies
worked with small and medium enterprises (SMEs) in
The event attracted
17 big corporations in varied fields, most of them from
The meeting was
organized by the EU-Vietnam Business Network (EVBN), the French Chamber of
Commerce and Industry (CCIFV) and the European Chamber of Commerce in
According to EVBN,
CCIFV held a similar event last year and many participants said they had not
known the products they were looking for were available on the Vietnamese
market until that event took place.
The five-year
project EVBN was initiated late last year with a budget of around three
million euros by the European Union to facilitate operations of EU companies
in
The Mekong Delta,
the country’s key rice growing area, is still struggling with the sluggish
modernization of the agriculture sector, which experts said is due to
inconsistent policies for agriculture and rural development.
Professor Bui Chi
Buu, former director of the
This is one of the
reasons behind local farmers’ low incomes compared to the nation’s average.
The nation has
concentrated much on food security but social welfare for those working in
the field has been paid little attention, Bui said. Farmers have made great
efforts to grow higher-yield crops and embrace intensive farming methods,
their living standards have not improved correspondingly.
Ho Viet Hiep, vice
chairman of An Giang Province, said farmers in the province are now able to
harvest four tons of paddy a hectare and exported US$200 million worth of
rice last year.
An Giang has made
certain farming breakthroughs like the successful large-scale rice field and
a stronger link between farmers and enterprises. But local farmers earn just
over US$1,000 a year on average each.
Therefore, the
sector needs comprehensive restructuring, Professor Buu said, urging more
investments in the sector with a focus on adding value to farm produce and
lowering exports of semi-processed products.
The agriculture
sector in the Mekong Delta in general and in An Giang in particular has
achieved lower-than-expected growth due to the absence of feasible strategies
for modernization.
The average growth
was 5.5% in 1986-2003 but dropped to 4% in 2011 and 2.67% last year.
Buu also proposed
incentives for large-scale farming to turn out higher quality products at
lower costs and for establishment of strong business-and-farmer cooperation.
Last year, the
Mekong Delta region expanded large-scale rice production to 76,000 hectares.
Investors
sought for Tay Bac Urban Area
The management of
the Tay Bac Urban Area in HCMC’s outlying districts in collaboration with the
HCMC Investment and Trade Promotion Center (ITPC) held a conference over the
weekend to call for investments with a focus on infrastructure development
and other important sectors.
Previously, many
foreign and domestic investors had shown keen interest in Tay Bac Urban Area
but the management was unable to accept their proposals as the 1/2000 scale
plan of the area had not been approved.
Now the plan has
been approved by the city government, paving the way for the urban area in Cu
Chi and Hoc Mon districts to attract investors to infrastructure development
as well as housing, residential, hospital and schools projects.
Among the major
components in need of investors are Tam Tan Street stretching from An Ha
Bridge to Provincial Road No.8, the streets by canals No.5, No.8 and No.7,
the roads connecting canals No.5 and No.7, an intersection at An Ha Bridge,
Diamond residential village, education and administrative-trade-service
centers, and a resettlement area.
Investors will be
provided with incentives in line with the city’s investment policy. For the
prioritized projects, the management will ask the city government for special
treatment for the investors.
Tay Bac covering
more than 9,000 hectares and 30 kilometers away from the downtown area of
HCMC is expected to be home to around 450,000 residents. It will be developed
into an eco-area and connected to trans-Asia National 22 linking HCMC to Long
An and Tay Ninh provinces.
The components
under construction in Tay Bac are Kinh Dong Water Treatment Facility, Tan Phu
Trung Industrial Zone and Cu Chi Golf Course.
Tay Bac is one the
three major urban areas to be developed in HCMC. The other two are Thu Thiem
and
PM approves
15 new golf courses in zoning plan
Prime Minister
Nguyen Tan Dung has signed a decision approving 15 more golf courses in a
zoning plan for development until 2020.
According to the
decision signed last week, there will be nine golf courses and the second
phase of one course will be removed from the country’s zoning plan for this
field until 2020.
With the
adjustments,
The Ministry of
Planning and Investment has been to adjust and supplement the requirements
for development of golf courses compared to those clarified in Decision
1946/QD-TTg issued in 2009 based on the actual situations in regions. The
ministry will have to submit the new criteria to the Prime Minister next
year.
The 15 new golf
courses in the zoning plan until 2020 are Phuc Tien and Ky Son in Hoa Binh
Province, Thanh Xuyen in Phu Tho Province, Yen Binh and Phu Binh in Thai
Nguyen Province, Halong Star in Quang Ninh Province, Dam Hau Lake in
Yen Bai Province,
Cat Ba in Haiphong City, Phoenix Hill in Ha Nam Province, Quang Cu in Thanh
Hoa Province, Lang Co in Thua Thien-Hue Province, Ho Na-Van Phong in Khanh
Hoa Province, Son My and Hon Rom in Binh Thuan Province, Vietsovpetro in Ba
Ria-Vung Tau Province, Phuoc Dong in Tay Ninh Province and Hoan Cau in Long
An Province.
Farming
imports up 20% this year
This announcement was
made by the Ministry of Agriculture and Rural Development, adding that the
increase was a total US$8.56 billion in imports of material and products for
production.
During the first
five months,
Almost all the
pesticide products used in the domestic market were imported, with an annual
volume of 70,000 tonnes, stated Bui Si Doanh, deputy head of the Plant
Protection Department.
Imports of animal feed
products material for producing animal feed had a light surge of 0.1 per cent
to $1.2 billion against the same period last year. Of which, imports had a
year-on-year increase of 49 per cent in volume to 809,000 tonnes and also the
same percentage in value to $474 million for soybean.
Imports of corn
surged by 3 times in volume to 2.24 million tonnes and 2 times in value to
$576 million compared with the same period last year.
Meanwhile, in the
first five months of this year, imports of fertiliser had a reduction of 14.9
per cent in volume to 1.31 million tonnes and 35.8 per cent in value to $405
million against the same period last year because the domestic supply
increased to meet the demand at home market.
Experts reported
that the agricultural sector should reduce imports of products and materials
for production to gain sustainable development of the sector in the future.
To achieve the target, the sector should promote attraction of investment
from both domestic and foreign enterprises with modern technology for
increased output and quality of farming products to avoid dependence on
imports.
PM approves
Vinacomin capital sale to VPBank
Prime Minister
Nguyen Tan Dung has approved in principles to allow the Viet Nam National
Coal and Minerals Industries Group (Vinacomin) to sell all of its charter
capital at Vinacomin Finance Company (CMF) to Viet Nam Prosperity Bank
(VPBank).
The State Bank of
Deputy PM Vu Van
Ninh asked Vinacomin and VPBank to follow laws on merger and acquisition
while ensuring State-owned capital.
The two sides have
been implementing further steps to complete the deal.
A representative
from VPBank revealed that the bank will shift all credit activities at CMF to
a new company with the aim of making the operation more professional and
bringing better benefits to customers.
He said that the
sale of share at CMF was to implement the divestment of state-owned
enterprises from non-core businesses and restructuring credit system. In
addition, it will also realise the bank's plan to focus on consumption credit
services as part of its retail strategy to become one of the three leading
retail commercial banks by the beginning of 2017.
Nguyen Van Bien,
Vinacomin's deputy general director, announced at the press meeting in Ha Noi
on Monday that the group would complete its divestment from non-core
businesses by 2015.
Accordingly,
Vinacomin will withdraw capital of more than VND400 billion (US$19.05
million) from four companies, including Sai Gon–Ha Noi Commercial Bank (SHB),
SHB Securities Company (SHS), Sai Gon-Ha Noi Fund Management Joint Stock
Company (SHF) and Hai Ha Industrial Zone.
Bien said that
Vinacomin had also completed equitisation of two out of eight corporations.
Value clarification
of three out of the six remaining companies has been completed and submitted
to the Ministry of Industry and Trade. The equitisation plans will be
submitted to the PM for approval. The companies include Minerals Holding
Corporation, Power Holding Corporation and Viet Bac Mining Industry Holding
Corporation, with a charter capital of VND500 billion ($23.80 million) each.
"Some
strategic investors both inside and outside the country have expressed their
interest in the corporations," he added.
Vinacomin expected
to sell around 10 million tonnes of its products in the April–June period and
export at least 1.5 million tonnes. To realise the goal, the corporation has
taken various measures to promote the production of high-quality coal,
satisfying customer demand and ensuring good income for workers.
In the first five
months of 2014, Vinacomin sold 16 million tonnes, down nearly 11 per cent
year-on-year, and shipped over 3.7 million tonnes abroad, only 62.6 per cent
of the same period last year.
Despite an array of
economic difficulties in 2013, the group earned more than VND97 trillion
(over US$4.6 billion) from selling 39 million tonnes of products, including
11.6 million tonnes for export.
Commercial
banks lift US dollar rates
The US dollar
prices climbed in the domestic commercial banks and in the flea market on
June 3, while the gold prices dipped slightly in
While the State
Bank of Viet Nam (SBV), which recently made a commitment to stabilise the
gold and forex markets, has kept the rate of VND21,036 for US$1 unchanged for
the last 11 months, most commercial banks increased the dollar's buying and
selling rates between VND30 and VND50 yesterday.
Vietcombank
yesterday added another VND40 to the dollar's selling rate, raising it to
VND21,220 and was buying it for VND21,160, which was VND30 higher over
Monday's last rate. According to Vietcombank, the US dollar rate increased
between 0.28 per cent and 0.33 per cent during the last two weeks in the
bank.
The same buying and
selling rates of VND21,160 and VND21,220 respectively were applied by
EximBank and VietinBank. The rates were VND21,180 and VND21,200 at the Bank
for Investment and Development of Viet Nam, and VND21,170 and VND21,230
respectively at the Asia Commercial Bank.
According to SBV,
commercial banks were allowed to apply an effective exchange rate + or -1 per
cent from the official exchange rate set by SBV. Accordingly, the ceiling
price for a dollar was VND21,246.
In the flea market,
traders also raised their US dollar rate compared to June 2. At the Quoc
Trinh Jewellery Company in
On the same day,
the gold price fell by VND100,000 or $4.7 for one tael from the previous day.
One tael of the State-owned SJC gold was selling at VND36.28 million, or
$1,727, at the Saigon Jewellery Company. On the gold trading floor,
Kitco.com, the gold price dropped by $4.4 per ounce and was listed at
$1,242.9 per ounce or $1,497.6 per tael. Thus, each tael of gold in
Vinamilk
plans Polish subsidiary
The Ministry of
Planning and Investment on Monday granted the Viet Nam Dairy Products Joint
Stock Company (Vinamilk) a licence to open a subsidiary company in
With a registered
capital of US$3 million, Vinamilk Europe Sp z.o.o will focus on the wholesale
trade of animals, raw materials for making milk and milk products and food
and beverages, according to NDHmoney.vn.
The company will be
Vinamilk's seventh subsidiary, including one each in the
In the last one
month, the stock price of Vinamilk, or VNM on the stock exchange, closed in
the margin between VND120,000, or $5.7, and VND137,000, or $6.5, per share.
The average volume of exchange was 410,748 units at an average price of
VND53.5 billion, or $2.54 million, per section.
HCM City People's
Committee and Kansai region's Economy, Trade and Industry Department on
Monday signed a framework agreement on cooperation, under which they will
enhance connections in support industry.
The two sides will
also speed up the establishment of a business environment that can facilitate
the investment of
The city has
assigned its management board of industrial and export processing zones to
set up a division in charge of connecting ties with Kansai and providing
consultations for its enterprises.
At a meeting with
the Japanese guests earlier, Chairman of the Municipal People's Committee Le
Hoang Quan announced that Viet Nam in general and HCM City in particular
commits to creating all favourable conditions for foreign investors,
considering them part of the country's economy.
Toshinori
Kobayashi, head of the Kansai department, and the region's businesses,
especially those operating in the support industry, are paying much attention
to boosting investment in
$9.4b
earmarked for
The Sai Gon – Ha Noi
Commercial Bank will provide a credit line for the Phu My Construction
Development Joint Stock Company (PMC) to develop 14 infrastructure projects
in
According to Nguyen
Thanh Thai, general director of PMC, the company has plans to invest an
estimated VND200.1 trillion (US$9.4 billion).
They include over
VND6 trillion for a Southern Ring Road (through Districts 8, Binh Tan, and
Binh Chanh), VND168 trillion for five elevated highways, and VND815 billion
for the
Thai said the
projects would be undertaken in several forms like build-transfer, private –
public partnership, and build – operate – transfer.
The two signed a
contract on Monday for a loan of nearly VND4 trillion for a road to link the
Eastern Ring Road with the Ha Noi Expressway (from District 2 to District 9)
and widening Luong Dinh Cua Street in District 2.
Nguyen Huu Tin,
deputy chairman of the HCM City People's Committee, confirmed that the 14
projects would have to be completed by 2020.
Central
region growth in focus
Deputy Prime
Minister Nguyen Xuan Phuc yesterday stressed the importance of the central
coastal region in the country's socio-economic development process, saying
its potentials should be exploited in a sustainable manner.
Addressing a forum
on sustainable development held by the Ministry of Planning and Investment in
collaboration with the World Bank, Phuc said the region has great potential
in tourism, mineral resource exploitation and deep water ports.
He advised
localities in the region to combine economic development with environmental
protection.
Victoria Kwakwa,
the World Bank's
Other speakers
shared their views on how to intensify socio-economic development while still
protecting the environment, including strengthening transport infrastructure connectivity,
using water resources in a sustainable manner and managing and mitigating the
risks of natural disasters.
The central coastal
region stretches from Ha Tinh to Phu Yen with a total population of about 9.9
million.
Phuc also met
yesterday afternoon with leaders of Quang Ngai as well as several districts
to talk about progress made in the project to expand and upgrade the National
Highway 1 section that runs through the central province.
He asked the
provincial People's Committee to strengthen its focus on supervising land
clearance to ensure the process is completed by June 30.
He also asked the
officials in charge to work responsibly in supporting residents who have to
be relocated because of the project. The residents should be able to enjoy stable
lives after resettlement, he said, adding that for this to happen, other work
related to the construction of resettlement areas, such as electricity and
telecom connections, water supply and provision of other utilities, should be
done well and in time.
Phuc said the
Government would give a temporary loan of VND50 billion (US$2.38 million) so
that the province is able to expedite the land clearance process.
He also said the
Transport Ministry would propose to the Prime Minister a 19-kilometre
extension of the National Highway 1.
According to Le
Quang Thich, acting chairman of Quang Ngai People's Committee, of the 197ha
of land required for the project, 176ha have been cleared, which means 90 per
cent of the land clearance target has been met.
Of the total of
over 6,270 relocating households that need to be compensated, nearly 2,890,
or 46 per cent, have already received their compensation.
He said the
province was constructing 23 resettlement areas for the relocating families.
The National
Highway 1 section running through
Thich said his
administration would focus on removing obstacles to ensure that the land
clearance is completed by June 30, as ordered by the Deputy Prime Minister.
Exports
post 15.4 percent increase in five months
Domestic firms
brought home 19.05 billion USD from their exports, while 36.39 billion USD
was contributed by foreign-invested enterprises, a surge of 18.6 percent from
the same period last year.
In May alone, the
export turnover rose by 3.5 percent from the same month last year to 12
billion USD. The proportion of fossil fuels and minerals in the total exports
reduced, while industrially-processed and agro-aquatic exports climbed. This
trend is closely aligned to the national export strategy.
Notably, two-way
trade between
In addition to
boosting exports to its traditional markets, including ASEAN, the EU, Japan
and the US, Vietnam continues to diversify its exports and is maintaining
effort in seeking new importers in Africa and the Middle East, said Deputy
Minister Do Thang Hai.
This week, the
ministry will discuss measures to further boost agro-aquatic exports through
expanding markets for these products and reduce the fluctuation in prices for
farmers.
New gold
jewelry management regulations effective
Although many gold
traders have suggested extending the effective date of a new circular on
jewelry quality management, the Ministry of Science and Technology still
insists on applying the circular from early this month to protect the
interests of consumers, a local newspaper has said.
According to the
Saigon Times Daily, Circular 22/2013/TT-BKHCN, which was issued by the
ministry last September and took effect on June 1, regulates management and
measurement policies for the gold trading business.
Under the document,
the standards of quality and measurement of the gold jewelry items traded on
the local market must be written in a code with the correct gold content.
The circular aims
to help reduce substandard gold products on the market and serve as a more
effective legal tool for management agencies to tackle violations.
However, local
traders claimed that they had been on tenterhooks as the time from the
circular’s date of issuance to that of coming into force was too short for
them to make necessary preparations and manage their inventory.
Nguyen Hoang Linh,
head of the ministry’s Directorate for Standards, Metrology and Quality, said
Circular 22 did not mention the concept of ‘inventory’ and that all jewelry
items available on the market must meet quality requirements set by the
circular early this month.
In the past nine
months, gold traders should have finished preparations to meet requirements
by the circular and solved all substandard jewelry items. Consumers had the
right to choose the items with various gold contents and prices and to buy
those with the correct gold content announced by producers, Linh said.
In fact, most
jewelry products on the market have been made without codes indicating clear
gold contents. As a result, many people pay for the gold jewelry items they
believe to have sufficient gold content but when they sell the products, they
receive far less money than they expect because the gold content is announced
much lower.
For instance, most
18-carat jewelry whose at least 75 percent of the content should be pure gold
but the real content is only 66 percent gold on the domestic market.
Therefore, Nguyen
Van Dung, Chairman of the Saigon Jewelry Association, said the circular was a
legal foundation to restore order on the gold jewelry and fine arts market
and to protect the interests of customers.
Pilot
programme helps increase agriculture connectivity
The State Bank of
Director of the
Credit Department under the central bank Nguyen Viet Manh said that there
have been many agricultural production models promoting connectivity between
businesses and farmers nationwide.
A number of those
have proved successful, including the large-scale rice field model in An
Giang province and other localities, the hi-tech vegetable and flower
cultivation one in Lam Dong province, and the dairy farming and milk product
production one in Nghia Dan in Nghe An province, among others.
With those models,
businesses not only created large scale rice fields and mechanised
agricultural production but also had stable raw material production areas and
constructed trademarks and geographical indications for their products in
both domestic and foreign markets. The models benefited both farmers and
businesses.
At a Government's
regular meeting in February 2014, SBV Governor Nguyen Van Binh suggested the
construction of a credit programme for connectivity models and high
technology application and farm export promotion projects.
Through its
Resolution 14/NQ-CP, the Government assigned the central bank to work with
the Ministry of Science and Technology and the Ministry of Agriculture and
Rural Development to implement a pilot credit programme for connectivity
models. These three institutions are working together to survey, research and
construct experimental policies for a large scale application.
Manh said the pilot
credit programme will reduce the input costs for the connectivity models’
products through offering preferential credit for the models. The programme
could provide unsecured loans for businesses and farmers as members of a
connectivity model.
With this pilot
programme, the banking sector can not only increase credit growth related to
agricultural production but also promote large-scale, competitive
agricultural production, contributing to gradually improving farmers' living
standards and constructing and developing new rural areas.
Manh said the bank,
the Ministry of Science and Technology, the Ministry of Agriculture and Rural
Development and credit institutions were expected to select about 20
connectivity models as the pilot credit programme’s beneficiaries.
These include the
large-scale rice field model, the product value chain-based connectivity
model and the high technology applying business model, among others, with
priority given to rice, seafood, livestock breeding, vegetable and fruit.
About two years
after the pilot credit programme finishes, the SBV will consider policy
improvements and multiplication of the models.
Manh added that
agricultural insurance policies, farm produce planning and its management,
farm export promotion and law-based assistance and market information are
important for the pilot credit programme’s success.
HSBC:
Vietnam’s
Purchasing Managers’ Index (PMI) was 52.5 in May compared to 53.1 in the
previous month, but still signaled operation improvements at Vietnamese
manufacturing firms, according to a report released by HSBC Bank and Markit
Economics on June 2.
HSBC said in the
report that overall business conditions in the Vietnamese manufacturing
sector strengthened in May amid ongoing improvements in client demand.
Output increased
for the eighth consecutive month amid another solid expansion in new
business. Some panelists reported that purchasing of materials in recent
months had enabled them to raise their output.
Meanwhile,
production growth helped firms work through outstanding business. Backlogs
decreased modestly following a rise in the previous month.
However, HSBC said
the recent changes in transportation rules again impacted on the
manufacturing sector in May. Suppliers’ delivery times lengthened to the
greatest extent in the survey’s history as new tonnage rules meant that
suppliers had to make more journeys in order to deliver the same amount of
goods.
The rules also
affected the cost of shipping, in turn pushing the rate of input cost
inflation up for the second month running to the fastest since March 2012.
Despite a sharp
rise in input costs, manufacturers left their output prices largely unchanged
during the month. While some panelists reported having passed on higher cost
burdens to their clients, others indicated that efforts to stimulate demand
had led them to reduce their charges, the report said.
Employment also
increased for the second month running in May although the rate of job
creation slowed and was only slight. Higher production requirements led some
panelists to raise staffing levels.
Increased output
requirements also led to a rise in purchasing activity during the month.
Input buying has now increased in each of the past nine months, with the rate
of growth remaining solid despite easing from that seen in April.
Stocks of purchases
decreased modestly as inputs were used in the production process. Stocks of
finished goods were also depleted following a rise in the previous month. The
rate of decline was only marginal.
Trinh Nguyen, Asia
Economist at HSBC, said the latest PMI showed that the manufacturing sector
in
“Profit margins are
being squeezed, as weak domestic demand makes it hard for manufacturers to
raise output prices despite rising production costs. We expect the State Bank
of
The HCMC Department
of Planning and Architecture has publicized a detailed urban architecture and
landscape plan for the major streets in the city, including Pham Van Dong,
The scale 1/2000
plan contains criteria for individuals and organizations when they plan
constructions along the roads. The plan is considered an important basis for
issuing the licenses for construction works along the roads in terms of
height, color and architecture.
Under the plan,
Pham Van Dong Street, which is also known as the Tan Son Nhat-Binh Loi-outer
ring road route, stretches 15.33 kilometers and crosses Tan Binh, Go Vap, Phu
Nhuan, Binh Thanh and Thu Duc districts. The design area covers 527.3 hectares.
The design plan for
Mai Chi Tho-Vo Van Kiet route covers 650.96 hectares along a 13.54-kilometer
section from Thu Ngu Flagpole near
The plan comprises
577.08 hectares along 14.83 kilometers of
Nguyen Thanh Toan,
deputy director of the department, told the Daily last week that the urban
design plan would be on display at the offices of the districts where these
roads go through from this month for local residents to view. Construction
indexes and the level number of buildings along the roads are also available
in the plan.
Toan expected the
urban design plan was introduced to help reduce the number of houses which
have been built in different sizes and shapes along the streets in the past
years.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Năm, 5 tháng 6, 2014
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