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BUSINESS
IN BRIEF 15/7
TPP
negotiation round in
Another negotiation
round for a Trans-Pacific Partnership (TPP) agreement has recently wrapped up
in
The reason was
attributable to major differences held by the 12 participating State members
over contentious issues, including those on intellectual property,
State-owned enterprises and environment.
The negotiating
countries agreed to continue holding meetings to address their differences
but could not decide when their next sitting will be held.
TPP negotiations
began in 2010 with the participation of nine nations.
It is now involved
by 12 countries, including the US, Australia, Brunei, Canada, Chile, Malaysia,
Mexico, New Zealand, Singapore, Peru, Japan and Vietnam.
Once signed, the
agreement will create a free trade area with an 800 million population,
accounting for 30 percent of total trade turnover and nearly 40 percent of
economic output of the globe.
Banks eye
ways to convert deposit boom into lending
Commercial banks
are seeking ways to boost lending as bank deposits have increased in the past
few months.
By the end of June,
Ho Chi Minh
City-based commercial banks have launched several preferential credit
programmes to boost their lending.
NamA Bank Deputy
General Director Tran Ngoc Tam said his bank could not wait for businesses to
ask for loans and had to find ways to boost lending by any means possible.
The bank employees have to get access to potential borrowers and offer them
suitable loan packages, reports Tuoi Tre (Youth) online.
An executive at the
Sacombank acknowledged that apart from boosting lending for large-scale
businesses, his bank also sought individual borrowers and small and
medium-sized businesses. The businesses still wanted to maintain their
production despite the difficult economic circumstances.
Sacombank has
launched many credit programmes for small and medium-sized enterprises with a
1 billion VND maximum loan package. Loan application procedure will be
processed within two days.
By the end of June,
the individual loan packages of Sacombank rose 13 percent over the same
period last year, he said.
A deputy general
director at a commercial bank in HCM City District 1, who asked not to be
identified, said his bank staffers have to get business in any way possible.
For individuals, the bank has to approach borrowers through State offices,
schools or buy information from shopping centres and insurance companies.
He said those who
visit shopping centres are often high-income earners, thus making it easier
for the bank to offer them services.
According to
economist Nguyen Tri Hieu, household businesses and individual borrowers are
those who are able to absorb loans in the current economic circumstances.
On the other hand,
due to small loans, banks can avoid the risks of bad debts. Commercial banks
get high lending interest rates from them as compared to lending interest
rates offered to businesses.
He said businesses
are still facing difficulty gaining access to cheap bank loans due to their
"poor health" on account of bad debts and no assets to mortgage.
Also, the banks do not want to face high ratio of bad debt lending.
A survey carried
out by Vietnam Business Association found that 27 percent of businesses
cannot take bank loans due to incomplete lending application procedures while
8 percent do not want loans. The remaining businesses are not qualified due
to their existing bad debts and no assets to mortgage.
Economist Le Xuan
Nghia said the most difficult thing now is that banks do not believe in
businesses and want to insulate themselves from high risks.
Nghia noted that if
this situation prevailed it would make an adverse impact on the country's
economic recovery.
Nghia also
attributed the low credit growth over the months to the sluggish recovery of
bad debts in commercial banks. If no breakthrough was made to handle the bad
debt issue soon, the credit growth would remain low, he added.
New plan
for
Electronics and
telecommunications, industrial processing and manufacturing and new energy
development are highlighted in the master plan of
Minister of
Industry and Trade Vu Huy Hoang said that for the first time,
Under the master
plan, the projected growth rate of industrial production value is expected to
reach between 12.5 and 13 percent per year by 2020 and between 11.0 and 12
percent per year from 2021 to 2030. The industry and construction’s shares of
the GDP are estimated to account for 42-43 percent by 2020 and for 43-45
percent by 2030.
By 2020, the
proportion of industrial products and hi-tech products will reach 45 percent
of GDP and by 2030, the proportion will reach 90-92 percent and above 50
percent, respectively.
By 2030,
The master plan of
industrial development has proposed 7 solutions in capital, technology, human
resources, market and product development, supporting industry,
inter-regional cooperation and coordination for development, industrial
promotion, and supports for the development of small and medium enterprises.
It is expected that
70-75 percent of funding for implementation of master plan will be
contributed from the businesses (attracting FDI of approximately 33-34
percent) while the state budget will finance approximately 3-4 percent of
total funding, mainly on infrastructure, human resource development,
research, and scientific and technological innovation.
Apart from three
industries selected for development priorities, others are of the supporting
industry category, electronics and computer science, engineering and
metallurgy, textiles, leather shoes and the industries to meet the domestic
demand and increase exports.
One of the
important issues is to encourage local business development, foreign
investment as well as promote sustainable development of the non-state
sectors.
In addition, there
will be focus on developing small and medium enterprises. The human resource
issue is vital to determine the success of industrialisation, modernisation
and development of industry which meets both environment and green technology
requirements after 2020. At the same time, the development of large-scale raw
material supply for the processing industry will be also put on priority.
The master plan
also said it will focus on developing the midlands and northern mountains,
Red River Delta,
Dung Quat
oil refinery resumes full-capacity operation
The Dung Quat Oil
Refinery in central Quang Ngai province has resumed operation at full
capacity after the second major maintenance that last 56 days.
Nguyen Hoai Giang,
General Director of Binh Son Refining and Petrochemical Company (BSR), which
is in charge of Dung Quat, said on July 14 that about 4,000 experts,
engineers and workers, including 400 foreigners, were involved in the
overhaul.
Several major
technical flaws were fixed during the process, and the single-point mooring
(SPM) at the refinery was upgraded, allowing it to receive oil tankers of up
to 150,000 tonnes. Previously it could only accommodate 100,000-tonne
tankers.
From now to the end
of this year, the refinery plans to produce about 2.6 million tonnes of
products, contributing 12 trillion VND (564 million USD) to the State budget.
Put into commercial
operation since 2010, the refinery has turned out more than 26 million tonnes
of oil, petrol and gas products so far, meeting 30 percent of demand for
petrol nationwide.
In 2013, it
produced 6.6 million tonnes of products, 17 percent higher than its set
target, and gained over 154 trillion VND (7.3 billion USD) in revenue and 2.9
trillion VND (138 million USD) in profit. It also contributed 28.4 trillion
VND (1.3 billion USD) to the State budget.
Spain to
invest in rubber latex factories in Binh Phuoc
Several Spanish
investors have pledged to invest in rubber latex processing factories in
southern Binh Phuoc province, Minister of Planning and Investment Bui Quang
Vinh said during a meeting with provincial officials on July 14.
The minister said
that the Spanish partners want to produce rubber products meeting the EU
market’s quality standards at these factories, which will consume about
150,000 tonnes of rubber latex each year.
He asked local
authorities to create favourable conditions for Spanish investors and
facilitate the completion of administrative procedures for the project to
start early.
Vinh also affirmed
that in the time to come, the ministry will assist Binh Phuoc province in
implementing its main tasks of the year, including a programme on regional
economic development, and investment in transport infrastructure, the Dong
Phu industrial-services-urban complex and the Bu Gia Map eco-tourism site.
Binh Phuoc tops the
country in rubber planting area, with more than 230,000 hectares, 70 percent
of which are under exploitation. Its rubber latex output is over 269,000
tonnes each year.
Basic GAP –
feasible solution for safe crop production
Basic GAP (Good
Agriculture Practices) process, deemed more helpful for Vietnamese farmers,
was introduced by the Japan International Cooperation Agency (JICA) at a
press conference on July 14.
The process,
including 26 most basic criteria among 65 standards of VietGAP, has been
built by the Ministry of Agriculture and Rural Development with JICA support,
aiming to facilitate safe crop production. Certification for Basic GAP
application is not compulsory.
JICA Vice Chief
Representative in Vietnam Okiura Fumihiko said most Vietnamese farmers are
small-scale producers with their products mainly sold in the domestic market,
making them hard to follow VietGAP and other higher standards.
Thus, Basic Gap may
be the best choice for them to increase the quality and safety of their
products, meeting higher requirements of domestic consumers, he said.
Yamamoto Satoshi,
senior advisor of JICA, revealed that the process has been applied in six
northern localities including Hung Yen, Ha
Following Basic
GAP, the farmers knew how to select safe and quality chemicals and
agricultural materials, harvest crops effectively, and improve their
production method towards sustainability, he added.
Nguyen Thi Vang,
Deputy Director of the Ha Nam Department of Agriculture and Rural
Development, said producing safe vegetables under Basic GAP is suitable to
local farmers’ conditions, helping them reduce input costs and protect the
ecological environment.
Deputy Director of
the ministry’s Department of Crops Production Tran Xuan Dinh said it is
necessary to devise a strategy on expanding the model and help stakeholders
make sense of benefits from Basic GAP application.
FDI to real
estate surges 65 percent in H1
Foreign direct investment
(FDI) earmarking for the real estate market hit 692 million USD in the first
half of this year, a year-on-year increase of 65 percent, according to CBRE,
one of the foreign property service providers in
A number of
property projects emerging in the period included Alma Resort worth 300
million USD in central Khanh Hoa province invested by
This shows that the
country’s real estate market is attractive again to foreign investors. Resort
projects have proven their advantages while housing ones have seen positive
changes, mostly in
In
They forecast that
the segment of housing for middle income earners will become hot in the
remaining months of the year.
From June 16,
customers can mortgage the contracts they signed to buy apartments from
projects which have had their foundations built to borrow bank loans from the
30 trillion VND loan package.
The Ministry of
Finance recently issued Circular 48/2014/TT-BTC guiding the implementation of
Governmental Resolution 01/NQ-CP regarding the extension of the payment of
land use charges and the cost of buying state-owned housing. The circular
took effect on June 10, 2014, allowing many real estate projects to delay the
payment of land use charges within 24 months.
In the first six
months of 2014, real estate ranked third among all economic sectors in terms
of foreign investment attraction with nine new projects registered.
A Vietnam-Israel
Commercial Committee made its debut on July 14 aiming to support future
cooperation between the two sides’ firms.
The debut came as
part of the Vietnam-Israel Agriculture E nterprise Forum held the same day in
Co-hosted by the
Vietnam Chamber of Commerce and Industry (VCCI) and the Israeli Embassy in
Vietnamese Deputy
Minister of Agriculture and Rural Development Le Quoc Doanh asserted that
Doanh said
VCCI Deputy
Chairman Doan Duy Khuong said
Israeli Ambassador
in Hanoi Meirav Eilon Shahar revealed that her country has a great interest
in
She said the debut
of the Vietnam-Israel Commercial Committee will greatly support business
partnerships and expressed hope that the two governments will work closely to
create the best possible conditions for their businesses’ growth.
According to VCCI,
Vietnamese
agro-forestry and fishery products are now present in 160 countries across
the world.
Meanwhile,
Two-way trade
between
Timber
shipments to
Timber exports to
the
Between 2009 and
2013,
In the first
quarter of 2014 alone, timber shipments surged by 38 percent to 18.6 million
USD.
The United Arab
Emirates (UAE),
Over the past
years, the UAE was the largest importer of Vietnamese wood products with the
import value of 12.8 million USD in 2012, accounting for 36 percent of
Meanwhile,
According to the
International Trade Centre, the region yearly imports nearly 6 billion USD of
wood products.
So far,
made-in-Vietnam timber products are present in over 120 countries and
territories worldwide and have become a key export commodity.
Dong Nai
focuses on SOEs equitisation
The southern
Reports by the
provincial People’s Committee say Dong Nai is now home to 53 SOEs. The
province is speeding up the restructuring and equitisation of and divestment
from SOEs in line with a plan on restructuring the SOEs approved by the Prime
Minister.
Accordingly, the
local authorities has urged a number of SOEs to finish their equitisation in
the period of 2014-2015. Meanwhile, several enterprises have been also asked
to withdraw their capital from non-core business.
In additions, in
order to hasten the equitisation, local authorities proposed the Government
to soon issue policies on recruitment, salary and bonuses of SOEs which hold
over 50 percent of chartered capital.
Dong Nai’s
exports to US to maintain growth
The southern
He revealed that
the sectors have signed contracts through the end of this year.
The
In the first half
of this year, the value of the shipments to the market reached nearly 1.5
billion USD, including more than 280 million USD in June alone – up 86
percent against May, he cited.
The
Local businesses,
however, were warned of the
A target of export
growth of 10-12 percent this year remains a challenge for local firms.
Therefore, the
department will hold regular meetings with businesses to help them promptly
ease their difficulties and update them on trade activities and credit
packages.
Agro-forestry-fishery
businesses seek to boost domestic sales
Product quality and
market expansion are vital to boost sales of agro-forestry-fishery products,
Deputy Minister of Industry and Trade Tran Tuan Anh told the Vietnam Economic
News.
*We have recently
talked much of the agro-forestry-fishery exporters’ difficulties. Can you
tell us what measures has the Ministry of Industry and Trade (MOIT) taken to
remove those difficulties?
Despite growth in
the export volumes of agro-forestry-fishery products in early months of this
year, the export revenue still fell. The main reason was low demand of these
products caused by sluggish world economy.
To support
agro-forestry-fishery exports, MOIT has focused on several solutions
including restructuring production to bring higher value-added to products;
applying technological innovation to enhance competitiveness of enterprises;
training human resources, accessing low-interest loans to serve production
and export; diversifying export markets and further strengthening trade
promotion activities overseas.
In addition, MOIT
also actively coordinated with related agencies to remove difficulties for
agro-forestry-fishery exports. For example, in early June of this year, MOIT
signed with the Ministry of Agriculture and Rural Development a joint-action
programme to boost exports of agro-forestry-fishery products.
*The poor quality
is seen as one of the barriers that has impact on the agro-forestry-fishery
exports. How will this problem be solved in the coming time?
There was a
question why
*The lesson from
recent litchi consumption showed that we should promote domestic market for
consumption of agro-forestry-fishery products. So how should we develop the
distribution network in the domestic market?
I have to admit
that the domestic market has great potential with 90 million people.
Therefore, along with boosting exports, the MOIT is also looking for
solutions to promote distribution network in the domestic market especially
in rural and remote areas. According to MOIT, in the first half of 2014, the
export revenue of agro-forestry-fishery products was estimated at 10.78
billion USD, a 13.6 percent increase year on year and accounting for 15.2
percent of the total export revenue.
The retail market
in Ho Chi Minh City is getting set for major realignments as many of the
world’s leading retailers in the food, beverage, and fashion industries
formulate expansion plans to set up shop.
In early July,
The five-storey
mall will offer the latest fashion, a hypermarket, a cineplex as well as
lifestyle, entertainment, education, dining outlets, and other entertainment
on an area spanning 21,270 square metres, located at SC Vivo City’s South
Palace Complex.
Mapletree Group
will be introducing international brands including CGV-one from the
Other international
giants in including Starbucks, MOF, BreadTalk, ThaiExpress, Pepper Lunch and
Shabu Ya are also lining up putting the final touches on negotiations to
begin operation in the shopping centre in the near future.
Japanese retail
tycoon AEON Mall will also officially making its debut appearance in the
Vietnamese market in the remaining months of the year. The group inaugurated
its first commercial centre in Tan Phu district,
McDonalds’s, the
world’s largest chain of hamburger fast food restaurants opened its first
franchise in eastern
It appears
McDonald’s is following the lead of its predecessor to
Baskin-Robbins the
international home of delicious cones, shakes, treats, cakes, and pies
recently opened the doors for business of its 20th store in Q2/2014.
Dairy Queen, a US
based franchise owned by billionaire Warren Buffett, opened its first ice
cream outlet in January, 2014 with its first in District 1 and a second
shortly thereafter within only a few months. As planned, over the next five
years, Dairy Queen chain will massively expand to over 60 stores.
Caffe Bene, famous
In the HCM City
Q3/2014 real estate report, CBRE Executive Director Vietnam Marc Townsend
predicted the landing of international retail brands in
The leading
indicator of the growth he says came in a Nielsen survey, in Q1/2014. The
confidence index of Vietnamese consumers was higher than the global average.
This is one of the key factors that increased the confidence of international
retailers and helped sway their decisions to invest in
Global Director of
Leasing Services and Retail Consultants Cushman and Wakefield Mark Burlton
recently commented that the global economic crisis created many changes in
the retail market over the past five years.
Retailers no longer
need to maintain a large number of stores like before in their country, he
said, adding that instead, they are actively searching for opportunities to
open stores in international markets, and they are particularly fond of
Currently, many
international brands have their eye on the Asian market, and most
particularly
Mark Burlton
stressed that most of the products of brands making their appearance in
However, prior to a
retailer pouring direct investment into any project, they must always carefully
weigh the pros and cons of the long-term venture.
One of the more
prominent obstacles that foreign retailers coming to
The process of
finding good location is arduous work. Overall project quality in
These are highly
complex and significantly important issues that retailers coming to
Cushman and
In 2015,
Truck
market sees steady growth
The domestic truck
market has seen significant growth since the Ministry of Transport's decision
to increase control and oversight of overloaded vehicles and ensure the
safety of all drivers on the roads.
The ministry in
April said overloaded trucks were a major cause of traffic accidents and road
damage.
The policy appears
to have been successful, as the number of traffic accidents since April has
decreased and the transport sector seems to be more competitive, especially
the truck market.
According to
independent market watchdogs, the tightened controls on overloaded trucks
have caused a slower flow of goods, particularly at local ports.
An official of the
transport ministry, who declined to be named, said that as many as 60 percent
of container trucks owned by local firms are no longer eligible to carry
containers, under the new policy.
Most of the owners
of the trucks had initially registered their vehicles to carry far less
weight than the actual load of their containers.
With such a change,
transport firms have had to buy or arrange to use other trucks suitable for
their goods.
Huynh Trung Thanh,
director of a transportation cooperative in Thu Duc district, said: "We
have had to lower the load of many vehicles to avoid being punished, so our
carrying capacity fell by half. To meet our regular customers' demand, we are
going to buy between five and 10 container trucks."
Dinh Nam Dinh,
Chairman of the Ho Chi Minh City Cargo Transportation Association, also said
that many local transport companies would have to purchase more vehicles if
they wanted to keep their customers.
"Some
companies will even have to double their number of vehicles to maintain their
carrying capacity. The vehicles that they want to buy now will be those with
high carrying capacity such as container trucks, heavy-duty trucks and
medium-duty trucks," Dinh said.
According to several
truck trading companies in
A representative of
the Nam Viet Motor Company, a distributor of
"In the first
five months of the year, the company achieved a 130 percent growth in selling
trucks," he said.
In addition to an
increase in the number of sold trucks, the domestic market has also seen a
sharp price surge of vehicles of this kind, analysts said.
For instance, the
new price of heavy trucks is hundreds of millions of dong higher than it was
before, while the price of container vehicles has also gone up by 300 to 400
million VND (14,120-18,800 USD).
Anticipating that
the demand for trucks would rise following the ministry's decision in April,
many major truck trading companies such as Thaco, Hyundai, Hino Motors
Vietnam and Isuzu
However, according
to market watchdogs, both manufacturers and importers have not been able to
meet demand due to the sudden increase.
Tran Tuan Hung,
director of a transport company in Tan Binh, said he wanted to buy five
medium-duty trucks that were domestically assembled but he was told that he
would have to wait at least six months.
"I now have to
buy imported vehicles, but I don't know if I can receive them immediately or
not," Hung said.
Head of the Vietnam
Fatherland Front (VFF) has highlighted the need for the Hanoi Young
Entrepreneur Association to encourage its members to promote creativity in
operation and grab business opportunities for effective performance in the
current context.
President of the
VFF's Central Committee Nguyen Thien Nhan made the remarks at the
association’s 6 th Congress for the 2014-2017 tenure in
Nhan expressed his
belief that the association will contribute to the development of the capital
city’s young business circle with its motto “Pioneering – Innovation –
Self-reliance.”
He also urged young
businesspeople to raise their sense of corporate social responsibility.
Nhan was informed
that during the three-year tenure, the association will accompany and support
its members to overcome the economic difficulties, specifically assisting
small-and-medium sized enterprises with science-technology innovation and
administration.
Established since
1993, the association has made significant contributions to the construction
and development of the capital and the nation at large.
Dong Thap
greenlights fish value chain project
The Mekong Delta
The project aims to
ensure a stable outlet for the fish as well as harmonising profits for all
stakeholders involved in the value chain.
It would help
farmers avoid a "price drop on a bumper harvest", according to
provincial authorities.
Phan Kim Sa, Deputy
Director of the provincial Department of Industry and Trade, said a close
linkage between farmers and enterprises would gradually eliminate
intermediaries involved in the trading of the fish.
Under the project,
farmers will breed the fish following contracts with enterprises. Enterprises
will then supply farmers with output materials and build a brand for the
fish.
Through the
project, the province wants to reorganise production of cooperatives so that
they are able to sign contracts with enterprises, he said.
This year, the
pilot model will be implemented in Binh Thanh commune in Cao Lanh district,
with the participation of 21 farmers under the Binh Thanh Pink Tilapia
Production and Consumption Cooperative and Hoang Long Seafood Processing Co
Ltd.
This would be
vertical linkage chain producing pink tilapia brood stock, mature fish,
processing the fish and consumption.
Banks will increase
the loan limit at preferential interest rates for cooperatives participating
in the programme, while training courses will be organised to provide farmers
with advanced farming techniques.
Vo Tuan Kiet,
Director of Binh Thanh Pink Tilapia Production and Consumption Cooperative,
said cooperative members were pleased that the programme would help them find
outlets to sell their fish.
Rice and tra fish
are two key products of the agricultural province.
The province for
many consecutive years has led the country in output and export revenue of
fresh water fish, with revenue from tra fish exports accounting for more than
half.
High-value
Japanese rice grows on northern farmers
Cultivation of
Japanese rice varieties has expanded rapidly in the northern provinces of
Thai Binh and Nam Dinh due to the high profits they fetch, but farmers are
still learning how to grow what is an alien crop.
By the end of last
year Thai Binh had 1,286 hectares under Japanese rice, four times the area in
2010.
"There are 10
companies cooperating with farmers to grow the rice and they are buying back
all of it," Le Van Thang, Deputy Director of the provincial Department
of Agriculture and Rural Development, was quoted as saying by Thoi Bao Kinh
te
The rice varieties
include Hana Akita Komach, Koshihirari, J01, J02, all of which are highly
nutritious and are considered very good for children and women after
delivery.
"All Japanese
rice is grown for export," Thang said.
For this year's
spring crop, Dong Phong commune in Thai Binh's Dong Hung district identified
35 hectares for growing Japanese rice by 200 farming households.
"This crop I
cultivated 1.5 hectares," Phan Thi Nguyen, one of the farmers taking
part in the programme, said.
"When signing
the contract with the company, I got the seeds and fertilisers. After
harvest, the produce was bought at a price of 22,000 VND per kilogram.
"I feel safe
and do not need to worry anything like production expenses or falling prices;
only focus on farming."
According to Thang,
Japanese rice strains are totally different from traditional local strains
because they are meant to grow in cold weather.
The export price
for a tonne is 800–1,500 USD, two to four times the prices Vietnamese rice
varieties fetch, he said.-
Private
equity draws investors to Vietnam
Speaking at a
recent seminar in
They also said they
would increase the allocation of funds to
About 48 percent
nurture a positive outlook for
The retail sector
was named the most attractive by 52 percent, followed by food and beverages
(37 percent). Hospitality and leisure and property ranked third at 27
percent.
"Although
Vietnamese expect bright future
Vietnamese have a
very high level of optimism about the future that makes the outlook for
Vietnamese consumer spending exciting, according to an economist from ANZ.
Glenn Maguire, the
bank's chief economist for the Asia-Pacific, said 92 percent of respondents
in an ANZ survey on
He was speaking at
the July 11 launch of the bank's first monthly Consumer Confidence Index
(CCI) for
It was done in the
first half in partnership with Australian firm Roy Morgan Research, polling
1,000 people aged 14 or above in major cities and provinces like Ho Chi Minh
City, Hanoi, Hai Phong, Quang Binh, Da Nang, Nha Trang, and Can Tho.
Around 93 percent
also believed that their children would have a better life than their own.
But
On the scale, 100
represents neutral.
This CCI is based
on aspects in which respondents believe they were better or worse off this
time last year and will be better/worse next year, their expectations about
their financial status in the next 12 months, the status of Vietnam in the
next five years, as well as whether it is a good or bad time for buying major
household items.
In terms of
personal finances, 48 per cent of Vietnamese (highest in the year-to-date and
up 9 percent from May) expected their family to be better off, while 8
percent (down 6 percent) expect to be worse.
Around 32 percent
(highest in year-to-date) said their family is better off than a year ago
compared to 20 percent (down 7 percent) who said the opposite.
Almost 57 percent
(up 5 percent) hoped they would have a "good time" economically in
the next five years compared to 11 percent who await a "bad time".
Asked about the
next 12 months, 49 percent said
Over 38 percent (up
5 percent) said now is the good time to buy major household items while 14
percent (down 2 percent) considered it bad.
"Vietnamese
consumer confidence has rebounded strongly over June on a number of factors,
not just an abatement of China-Vietnam tensions," Maguire said.
"Though the
sharp CCI decline in May aligned with the growing political tensions, we
believe this was correlated rather than causal.
"One of the
key determinants of the consumer confidence in
He noted that this
dynamic highlights the importance of income/wealth dynamics in driving
consumer confidence in economies such as
Ca Mau to
buy 100,000 tonnes of rice from farmers
A State-owned
company in the southernmost
In the January-June
period, the Ca Mau Agricultural Products and Foodstuff company (Agrimexco)
bought over 29,000 tonnes of rice, nearly 30 percent of its yearly target,
with 8,000 tonnes from the Mekong Delta.
Agrimexco Director
Nguyen Thanh Tuan suggested the provincial Department of Agriculture and
Rural Development and local authorities open more cooperatives, making it
easier to step up rice purchase in other areas.
More government
funding is also needed to buy necessary equipment, he said.
The official,
however, also warned of intense competition from regional countries such as
VASEP:
The
Under the
preliminary findings on its 10 th administrative review for anti-dumping
duties on tra fish fillets imported from
According to the
DOC's preliminary decision, Vinh Hoan JSC – one of the leading local tra fish
exporters to the US, who was under investigation and taken off the list of
Vietnamese tra fish exporters, enjoyed a zero tax rate.
Meanwhile, duties
on Hung Vuong Corporation, one of the large tra fish exporters to the
AnviFish was
charged duty at the highest rate of 2.39 USD per kilo as it did not supply
specific timely information to the DOC.
However, the VASEP
said the duties were unreasonable, as the DOC continued using Indonesian – a
country that does not has similar economy with
The new duties
will, however, not take effect until the final decision is made. Relevant
parties will have 120 days to reply before a final decision is taken.
According to
During the first
five months,
Two key tra fish
export markets of
The association
expected the exports of Vietnamese tra fish to the two markets to recover by
the end of this year.
Other key export
markets for Vietnamese tra fish, such as
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Hai, 14 tháng 7, 2014
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