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BUSINESS
IN BRIEF 3/7
JICA funds
VND2,500 bil expressway project
Vietnam Express
Corporation on June 30 clinched a VND2.500 billion deal with Sumitomo Mitsui
and Civil Engineering Construction Corporation to complete major sections of
the Ben Luc-Long Thanh Expressway.
The expressway
project, creating a direct link between Hiep Phuoc, Thi Vai-Cai Mep port
system, and Long Thanh international airport, is sourced by the Japan
International Cooperation Agency (JICA).
Additionally, the
expressway will connect to HCM City-Vung Tau highway and integrate into the
southern economic corridor under the Greater Mekong sub-region (GMS) from
The Ben Luc-Long
Thanh Expressway Project is of great significance for promoting
socio-economic development in the southern key economic region, especially in
the south-eastern region, exploring advantages, attracting investment and
tourism in HCM City, and southern Long An and Dong Nai provinces.
Japan Desk
debuts in Ba Ria-Vung Tau
The People's
Committee of Ba Ria-Vung Tau province on July 1 announced the
establishment of a Japan Desk with the aim of intensifying Japanese
investment.
The working team’s
tasks will be focused on enhancing coordination between local authorities in
solving difficulties facing Japanese investors in
In his speech,
Provincial People’s Committee Vice Chairman Ho Van Nien commended Japanese
investors’ contributions to boosting the province’s
socio-economic development through large-scale projects which brought
high-quality products to domestic and foreign markets.
To become an
industrial province and international transshipment port in the future,
a score of measures have been taken to lure more investment from
So far, the
province has had 290 foreign direct investment (FDI) projects capitalized at
over US$26 billion including US$1.9 billion from 19 Japan-invested
projects.
Satoshi Nakajima,
Japanese Consul General to HCMCity described
A Memorandum of
Understanding (MoU) between the province and Japan-based Mizuho Bank was also
signed under which a support mechanism for Japanese businesses which
are investing and plan to invest in Ba Ria-Vung Tau will be fine-tuned as a
contribution to promoting
The project will
construct a 151 km long gas pipeline, connecting Bach Ho oil rig to Dai Hung
and Thien Ung oil fields.
“This is a great
and urgent project, ensuring national energy security and meeting the needs
for the country,” said CEO of PV Gas Do Khang Ninh.
Cathay United Bank
President Chen Tsu Pei said he is confident that the two sides will establish
a solid and mutually beneficial relationship.
United
vision for agricultural investment needed
Most leading
political and financial leaders consider the mechanism of the public-private
partnership (PPP) as the best alternative for attracting investment to
upgrade the nation’s agricultural infrastructure.
However, there is
general consensus by these same leaders that PPP development throughout the
country is deficient, lacking in the necessary coordination and united
oversight needed to insure successful nationwide implementation.
Speaking at a
conference on July 1 addressing the national effort to implement the PPP
model, Central Institute for Economic Management (CIEM) Vice Director Vo Tri
Thanh said policies to buttress their development and specific targets to be
more fully clarified.
In the agricultural
PPP model the State plays a key role and assumes substantial financial,
technical and operational risk in the project and this is a key benefit that
farmers need to be aware of and take full advantage of, he said.
Deputy Minister of
Planning and Investment Dang Duy Dong in turn echoed Thanh’s views honing in
on the harmonious benefits of risk sharing among PPP participating sides.
Farmers’ benefits
must be clarified and better popularized and the Government’s efforts
optimally coordinated to facilitate participating sides’ operations, he said.
Dinicola Natalie
from Monsanto Group said the Government and related partiesmust
devise a more comprehensive and united vision with a more detailed
roadmap delineating the role of each side.
For its part,
Monsanto Group voiced its high appreciation for the State’s efforts in
issuing new policies promoting scientific and technological development and
cooperation in agriculture.
Monsanto is
successfully carrying out PPP projects in the Mekong Delta region, for which
Monsanto supplies high-quality rice seed, and updates advanced technology and
infrastructure for farmers.
Australian and
Vietnamese officials have held that short-term difficulties caused by
tensions in the
This view was
shared by an Australian government delegation while working with officials of
the Party Central Committee’s Commission for Economic Affairs in
Party Central
Committee’s Commission for Economic Affairs Vice Chairman Nguyen Ngoc Bao
briefed the Australian delegates on
The country is
focusing on economic renewal such as restructuring public investment,
State-owned enterprises (SoEs) and the banking system, finalizing the
socialism-oriented market mechanism; and equipping people with first-rate
skills.
Vietnamese
officials will work with authorized agencies to boost economic ties between
The Australian
delegation headed by Keith Scott – Assistant Secretary of the Southeast Asia
Mainland Bilateral Branch under the Ministry of Foreign Affairs and Trade
also hailed Vietnam’s remarkable economic accomplishments.
The both sides
shared their view on current hardships ignited by the East Sea developments
and agreed that such a situation also give Australia an opportunity to
increase its presence in the Vietnamese market.
HSBC:
According to the
Hong Kong-Shanghai Bank Corporation (HSBC),
The purchasing
managers’ index (PMI) fell slightly to 52.3 from 52.5 in the previous month.
New orders rose for
the seventh successive month at a solid rate, but slowed for the second month
running.
Customer demand was
improved, while export orders eased albeit moderately.
The rate of job
creation remained marginal.
Some companies had
to increase the number of workers as a result of a rise in new orders.
A conference
discussing measures to promote forestry-agriculture links between the capital
cities of
During the event,
In particular, the
two sides will work closely together to build a master plan for
agriculture-forestry development in
The two sides
pledged to work as a bridge to connect the two countries’ businesses operating
in the field of agriculture, forestry and aquaculture.
Bac
Ninh hopes to lure Samsung US$1 bil project
The People’s
Committee of northern Bac Ninh province is considering pouring VND298 billion
into infrastructure at the Yen Phong Industrial Park (IP) in an attempt to
entice Samsung Display to build a US$1 billion plant there.
Additionally, the
Committee asked the provincial Council to reduce the corporate income tax for
Samsung by 50% over the next three years and to support training costs for
8.000 local workers at a total cost of VND12 billion.
The Samsung
Display’s project in Yen Phong IP will contribute to perfecting the Samsung
Hi-Tech Complex, speeding up the development of electronics and telecoms
sector and turning Bac Ninh into Samsung Group’s global production
destination.
The project will
help promote the good images of the investment environment and improve Bac
Ninh’s competitive capacity.
Tien
Giang export turnover aims for US$1.3 bil in 2015
The Mekong Delta
The province is
expected to fetch US$1.17 billion in export value by the end of this year,
and US$1.3 billion in the year to come.
Local key
export items included rice, tra fish, fruit and vegetables. The province is
offering incentive policies for local exporters, especially those engaging in
seafood industry.
To boost rice,
fruit and vegetable exports, Tien Giang is promoting modern technology
application, creating a close link between producers and exporters, as well
as product value chains.
According to recent
statistics, the province has exported its products to 136 countries and
territories, including such large markets as the
It is forecast to
get more profit from leather and footwear products thanks to preferential
tariffs provided by major importers like the
Many advantages
from the Trans-Pacific Partnership (TPP) agreement, which is currently under
negotiation, will also help Tien Giang garment and textile products achieve
greater penetration of Japanese and US markets.
Cashew nut
exporters need more support
The Vietnam Cashew
Association (Vinacas) has called for commercial banks to lower interest rates
for local cashew nut exporters in a bid to stimulate lending to revamp the
industry and increase competitiveness.
Vinacas Vice
Chairman Dang Hoang Giang says that since 2006
At present,
however, the industry is operating at only 50% of capacity, he said, adding
that it is also overly dependent on imports which increase costs, putting
immense pressure on profits and cash flow.
“The industry
additionally is suffering from ills such as low added value, small scale of
production, and lack of cash due to difficulties in accessing bank loans,”
Giang said.
In the first half
of 2014,
The annual target
for exports for 2014 is US$2-2.2 billion and by 2020 the country aims to
export US$2.5 billion annually.
To achieve the
export target of US$2.5 billion, it is essential for business in the industry
to have ready access to cash provided by bank loans.
The industry needs
to be revamped and cash is needed to overcome the obstacles and meet the
growing demand for cashew production, purchase and processing, he said.
Currently, the
M&A
property deals on upward trend
Merger and
acquisition (M&A) deals in the real estate market are on the rise.
Economic experts were quoted by the Vietnam Business Forum Magazine (VBF) as
saying that the prolonged lacklustre property market had provided plenty of
M&A opportunities for companies with strong financial resources.
The sharp increase
in M&A property deals during market recovery has reflected the strong
pull of the real estate market. Opportunities are in the hands of companies
with strong financial capacities, according to VBF.
The National
Housing Organisation (NHO), a joint venture between TAG Joint Stock Company
and NIBC Investment Company Limited, invested nearly 1 billion USD, an
equivalent to 21 trillion VND, to control many property projects owned by
various companies in major cities and provinces like
Licogi 16 Joint
Stock Company also transferred its Sky Park Residence Project in
Phan Xuan Can,
President of Soho Vietnam Real Estate Consulting Company, said, in spite of
still being in difficulty, property transfers have never been ever eventful
as now, especially when the real estate market has shown signs of recovery.
Many companies with strong financial bases have rushed to take over projects
at the most reasonable values.
According to
experts, together with the revival of the property market, deals have started
to increase and market liquidity has gradually improved. Many people have
become more interested in real estate projects while owners have ended their
stop-loss sales. Hence, many companies envisaged the solid recovery of the
property market and they rushed to acquire investment projects.
Investors are
offered projects with very attractive prices. They do not have to conduct
time-consuming paperwork and deal with complicated troubles arising from land
clearance and compensation. Instead, they can start doing business
immediately.
However, transfers
are not always easy because new owners have to spend much time and effort to
contact and connect old partners and build up the trust with them to continue
their projects smoothly. They also have to review all customers to have
satisfactory explanations to continue fundraising activities and property
handovers in the future.
Marc Townsend,
Managing Director of CBRE Vietnam, said M&A is not actually the solution
to deal with inventories but it is a good opportunity for businesses to
perform restructuring, continue their projects and even develop new ones.
"Not all
M&As are successful. Buyers have many options and they only pick up good
ones. Besides, price is sometimes not the deciding factor but the similarity
of development orientations between buyers and sellers. Indeed, M&As
depend on many factors like price, location, legality and insider sentiment,”
he stressed.
According to
economists, M&As have helped the market to remove ailing businesses and
make experienced, strong businesses more powerful. This benefits the real
estate market and homebuyers in the long term, and strengthens market
stability.
Ho Chi Minh
City looks for investment from Belgium
A delegation from
During the visit,
which runs from June 28 to July 3, the delegation led by Chairman of the
municipal People’s Committee Le Hoang Quan, met with Belgian businesses and
organisation to discuss potential bilateral cooperation projects using
Chairman Quan said
the
He added that
The chairman also
highlighted the potential for cooperation between the city and Belgian
localities, adding that it is necessary to create favourable conditions for
their businesses and locals to visit
On June 28, the
Chairman joined a gala dinner held by the Belgium-Vietnam Friendship
Association (BVA) to mark its 3 rd founding anniversary.
He took this
occasion to brief the host about
He called on the
international community to raise their voice together with
Central
Highlands reviews socio-economic situation
Minister of Public
Security Tran Dai Quang presided over a meeting held in Gia Lai province on
June 28, reviewing the implementation of socio-economic development goals set
for the
Quang, who is also
head of the Central Highlands Steering Committee, highlighted the
socio-economic outcomes the region reaped in the reviewed period and asked
regional provinces to make more efforts to realize next tasks.
He suggested the
provinces step up the checking of the implementation of an infrastructure
development plan approved by the Ministry of Transport and realising a credit
support package soon, with the aim of further boosting the regional
socio-economic growth.
The region’s Gross
Domestic Droduct (GDP) posted an increase of 10.3 percent, while its
industrial production value rose by 12.6 percent and its State budget
collection was up 6.7 percent year-on-year, equivalent to 46 percent of the
year’s plan.
A 553km section of
the
To date, ground
clearance for key projects has been completed and the execution of the work
has started.
In the time ahead,
efforts should be exerted to support locals living near hydropower plants to
stabilise their production activities and life.
The Central
Highlands includes the provinces of Gia Lai, Kon Tum, Dak Lak, Dak Nong and
Lam Dong.-
Vietnam
publicises business opportunities in Romania
Investment and
business opportunities in
Attending the event
on June 24 were President of the Galati County Council Nicolae Dobrovici
Bacalabasa, Galati County Prefect Dorin Otrocol, Mayor of Galati Marius Stan,
and business executives.
Ambassador Tran
Xuan Thuy provided an overview on
He was supported by
Trade Councillor Le Ngoc Thi, who elaborated on economic relations between
the two countries as well as cooperation prospects.
At the workshop,
the Romanian side spoke highly of
Otrocol suggested
more information exchange and twinning
Statistics from the
Romanian Ministry of Economy show that two-way trade reached 123.1 million
USD in 2013.
Of that sum,
Key Vietnamese
exports included coffee, electronic devices, frozen aquatic products,
footwear and garments. Meanwhile, main imports were electronic and plastic
products, steel materials, and chemicals.
Representatives
from 20 member economies shared the view that the trade and use of minerals
have been crucial to regional socio-economic development, resulting in better
infrastructure and narrower wealth gap.
As part of the APEC
meeting themed “Shaping the future through Asia-Pacific partnership”, the
two-day event will focus its discussion on closer mining cooperation in the
region, innovation-driven growth and social responsibility for mutual
development.
The previous
meetings were held in
Specific
areas needed for support, high-tech industries in
At a workshop on
June 27, Vu Van Hoa, head of the management board of the HCM City Export
Processing and Industrial Zones Authority (Hepza), cited a
The park, expected
to be operational from this October, is hoped to attract investment from
Japanese small- and medium-sized enterprises into high-tech supporting
industries, he added.
Participants said
they believe such a measure will help push up the industries, which are among
the city’s top priorities, as said by Vice Chairman of the municipal People’s
Committee Le Manh Ha, but still grow less than expected in both quantity and
quality.
Hirotaka Yasuzumi,
managing director of the Japan External Trade Organisation Office in the
city, said
He noted that
Japanese businesses have high demand for inexpensive and quality products of
Vietnamese firms operating in the support industry.
However, domestic
enterprises have met only 32 percent of the demand, lower than that of other
Southeast Asian countries, he added.
At the workshop,
Hepza inked an agreement with the Saigon High-Tech Park and the municipal
Department of Industry and Trade on boosting cooperation in managing and
attracting investment into the industries.-
ADB-funded
project helps Tien Giang develop biogas models
A project to help
reduce environmental pollution caused by agricultural waste through expanding
and developing biogas models was launched in the Mekong Delta province of
Tien Giang on June 27.
Funded by the Asian
Development Bank (ADB), the 1.9 million USD project is expected to improve
living conditions for local people living in rural areas.
Nguyen Thanh Can,
Director of the provincial Department of Agriculture and Rural Development
said the six-year project will focus on measures to manage waste from breeding
activities; provide finance for biogas value chains; transfer low-carbon
agriculture production technology; and manage the project.
Training courses
related to operation, management and installation of bio-gas systems will be
organised, while the establishment of low-carbon breeding models implemented
in the framework of the project.
Apart from Tien
Giang, similar projects have also been implemented in the
Vietnamese
economy on the mend: GSO chief
Facing many
difficulties, Vietnam still saw signs of economic recovery with a GDP growth
in the first half of this year reaching 5.18 percent, said Nguyen Bich Lam,
Director-General of the Vietnam General Statistics Office (GSO).
GDP in the first
quarter rose 5.09 percent year-on-year, while that of the second quarter was
5.25 percent, noted Lam at a press conference in Hanoi on June 27 to update
socio-economic statistics in the first six months of this year.
Service sector’s
proportion in the economic structure was 43.61 percent, while
industry-construction accounted for 38.7 percent and agro-forestry-fisheries
sector made up 17.69 percent, he revealed.
Lam commented that
positive changes of the economy were reflected in progress of enterprises’
capacity. Industrial production in the first half of 2014 rose 5.8 percent
year-on-year, while export is another bright spot of the economy with 70.9
billion USD in total revenue, up by 14.9 percent, he said.
Sharing Lam’s
opinion, Ha Quang Tuyen, Director of the GSO’s System of National Accounts
Department, pointed out that the property market was also thriving with a
2.65 percent growth, higher than the 1.8 percent in the same period last
year.
He attributed the
results to the loosening bank interest rate and the government’s effective
support policy for the sector.
Both Lam and Tuyen
were optimistic with the predicted 2014 GDP growth of 5.8 percent despite
impact of the
Many economists at
the conference held that enterprises should stay more active in enhancing
their capacity and competitiveness, while expanding their markets and
choosing suitable business strategies for specific products.-
Maersk Line
optimistic about Vietnamese market
The 2014 first
trade report by Maersk, the world’s largest container shipping company, has
showed positive economic prospects in
The growth in
commodities in the first quarter of this year truly reflected
Maersk also
forecast that
The Maersk Group
has 89,000 staff worldwide including about 500 in
The Maersk Group
established its first
Thai
company to invest in thermal power plants in Vietnam
EGAT International
Company (EGATi) of
The acting
President of EGATi, Thana Putarungsi, signed a memorandum of understanding
(MoU) with the Deputy Director General of the Department of Energy under the
Industry and Trade Ministry of Vietnam, on construction of thermal power
plants in
The Vietnamese
government has approved EGATi as the project investor and developer. It plans
to construct two thermal power plants, each with a production capacity of 600
MW, in the Quang Tri special economic zone.
The plants will use
coal as fuel for power generation. The first plant is scheduled to be
completed in June 2021 and the second in December of the same year.
The Quang Tri
thermal power plant project is part of the 7th power generation master plan
of
Following the MoU,
EGATi will conduct an environmental impact assessment before submitting the
results to the Vietnamese government in December this year. If the EGATi plan
is officially approved by the Vietnamese government, it will proceed with
contract signings.-
Binh Duong
priorities Dutch high-tech projects
The southern
Chairman the
provincial People’s Committee Le Thanh Cung made the statement during his
working session with Dutch Consul General in Ho Chi Minh City Simon Van der
Burg in the province on June 26.
He also affirmed
that the local authorities will make every effort across the board to ensure
safety for businesses operating in the locality.
Simon said that the
Vietnamese Government and Binh Duong took effective measures to ensure
security, therefore, his country hopes to boost connection with Vietnam in
general and the province in particular in the coming time.
The guest revealed
the plan to further forge links in the high-tech field between
According to Cung,
19 projects with a total registered capital of nearly 500 million USD
invested by the
Tan Rai
bauxite plant enjoys strong export in six months
Tan Rai bauxite
mining plant , a component of the Lam Dong aluminium bauxite complex in the
Central Highlands
The plant exploited
over 1.6 million tonnes of bauxite ore and produced more than 220,000 tonnes
of alumina in the period.
According to the
Vietnam Coal and Mineral Group (Vinacomin), the plant has seen positive signs
in its consumption markets. Last year, it shipped over 160,000 tonnes alumina
to
The Lam Dong
complex is hoped to produce about 540,000 tonnes of alumina and more than
800,000 tonnes of hydrate this year.-
Vietnamese
goods introduced in Myanmar
The 2014
The third of its
kind held in
On show at 115
stands are a wide range of products ranging from processed food, plastics and
home appliances to garment-textile, cosmetics, footwear, timber products and
interior decorations.
Addressing the
opening ceremony, Vice Chairwoman of the HCM City People’s Committee Nguyen
Thi Hong said that the event shows the determination and strong commitment of
the city’s leaders and businesses to identifying themselves to the
Many products from
Vietnamese famous firms such Sai Gon cosmetics, Vissan processed food, Dien
Quang electrical goods, Dai Dong Tien plastics and Gia Dinh textiles drew
attention of Myanmar consumers during the first day.
Exhibitors are also
offering promotional programmes with a hope of further promoting their goods.
The same day, a
workshop promoting investment, trade and tourism between the two countries
was held in the headquarters of the Union of Myanmar Federation of Chambers
and Industry.
Business
optimism on the rise this year
Businesses are more
optimistic about the growth prospects now than two years ago.
This was revealed
by a survey on business trends in 2014, conducted by the General Statistics
Office from January 1to April 30, 2014.
According to the
survey, though many difficulties remain, most of the 8,100 surveyed firms are
more optimistic about the recovery and development prospects this year.
As many as 71.6
percent of the firms, including State-owned firms, private firms and foreign
direct investment (FDI) firms, expected their turnover to increase by roughly
70 percent this year as compared to last year.
Another 14.7
percent forecast that their turnover would remain unchanged this year, while
13.7 percent were concerned about declining turnover.
Also, 75.1 percent
believed their pre-tax profits this year will be higher than last year, 5.8
percent expected it to remain unchanged and 19.1 percent forecast a decrease
of profits this year.
As for exports,
34.1 percent expected their export value to rise this year. The number of
firms which believed that their export turnover this year would remain
unchanged from last year was 60.6 percent. Only 5.3 percent anticipated their
export turnover to be less this year over last year.
However, only 34.8
percent were optimistic about the domestic market this year, while 16.2
percent were concerned that the local market would be worse than last year.
According to the
survey, 49.5 percent of the firms were borrowing loans for production and
business activities as of March 2014, and 63.3 percent of them got the loans
from State-owned commercial banks.
Firms in the
industrial and construction sectors topped the list of the borrowers with a
rate of 60 percent, followed by firms in the service sector with 43 percent.
The agriculture, forestry and fishery sectors accounted for only 33.7
percent.
Most firms that did
not receive bank loans noted that they did not need to take loans frequently.
Complicated lending procedures, high interest rates, the ability to borrow
from other sources, and being able to meet lenders' requirements were all
obstacles preventing firms from gaining access to bank loans.
Vietnamese
goods introduced to Germany
Vietnamese goods
are being showcased at an event jointly held by the Vietnamese Ministry of
Industry and Trade and
Speaking at the
opening ceremony on June 26, Minister of Industry and Trade Vu Huy Hoang said
that
He expressed his
hope that the week-long activity in the European country will enable
Vietnamese producers to learn more about the taste of European customers to
meet their future needs, through Metro systems.
The minister highly
valued Metro’s operation in the Vietnamese market, saying that the chain has
contributed importantly to boosting the economic, trade and investment ties
between
Metro is present in
29 countries and territories with 752 distribution centres, 19 of which are
in 14 Vietnamese localities.
In the afternoon of
June 26, Minister Hoang held a working session with
It’s time
to reduce imports from China
The historical
trade relationship between
“It is high time
In the first half
of the year, China’s imports increased by 21% over last year’s same period to
tally in at US$20.4 billion and China continues to be Vietnam’s leading
importer, Thuy said, adding that Vietnam’s trade deficit for the period was
US$13.1 billion.
The imbalance of
trade comes into play when considering that
This demonstrates
that domestic production is overly dependent on
Since
The GSO is closely
monitoring the trade situation and statistics to keep the State management
agencies abreast of the situation, Thuy revealed.
Thuy also said that
imports of Chinese machinery and equipment account for 40-43% of
If
It is high time for
With a strong will,
Vietnamese businesses can persevere and gradually reduce imports from
Agricultural
trade surplus hits US$4.5 billion
Agro-forestry-fishery
exports jumped up 12.7% to US$14.88 billion in the first six months of the
year, the Ministry of Agriculture and Rural Development (MARD) reported on
June 27.
Of the figure,
exports of key agricultural products are estimated at US$7.17 billion (up
6.9%), aquaculture at US$3.57 billion (up 28.6%) and forestry products at
US$2.93 billion (up 12%).
Overall the sector
enjoyed a trade surplus in the first half of the year of US$4.5 billion.
In the reviewed
period, the combined production value in the sector also rose by 3.4%,
signaling agricultural growth has improved significantly, MARD reports.
Since May, due to
tensions in the
Agriculture and
Rural Development Deputy Minister Ha Cong Tuan said some Vietnamese
agricultural products are overly dependent on the Chinese market, primarily
citing rice and rubber, which
Additionally,
80-90% of dragon fruit and cassava are shipped to
To cope with the
issue, the ministry has directed relevant agencies to devise measures to
diversify and grasp market information for market expansion.
Coffee
exports up in volume, value in six months
According to the
Ministry of Agriculture and Rural Development (MARD), 109,000 tonnes of
coffee were shipped in June alone, grossing US$229 million.
During the six
month period, the average export price hovered around US$2,025 per tonne.
In the reviewed
period, coffee exports to some African countries obtained high growth.
Meanwhile, exports of Vietnamese instant coffee to northern
Tamada
starts construction on new facility in Haiphong
Tamada
The US$10 million
facility, spanning an area of 23,226 square meters, is expected to be placed
into operation by September 2015.
Once completed, the
plant will have the capacity to produce 5,800 tonnes of metal tanks, basins,
pipes and silo annually, creating 80 good-quality jobs.
Tamada is the
eleventh Japanese investor in the DVIZ.
So far, the
industrial zone has attracted investment form more than 50 foreign businesses
with a total investment capitalisation of over US$3 billion.
With its important
projects, including the Tan Vu-Lach Huyen cross sea bridge,
Specific areas
needed for support, high-tech industries
At a workshop on
June 27, Vu Van Hoa, head of the management board of the HCM City Export
Processing and Industrial Zones Authority (Hepza), cited a
The park, expected
to be operational from this October, is hoped to attract investment from
Japanese small- and medium-sized enterprises into high-tech supporting
industries, he added.
Participants said
they believe such a measure will help push up the industries, which are among
the city’s top priorities, as said by Vice Chairman of the municipal People’s
Committee Le Manh Ha, but still grow less than expected in both quantity and
quality.
Hirotaka Yasuzumi,
managing director of the Japan External Trade Organisation Office in the
city, said
He noted that
Japanese businesses have high demand for inexpensive and quality products of
Vietnamese firms operating in the support industry.
However, domestic
enterprises have met only 32% of the demand, lower than that of other
Southeast Asian countries, he added.
At the workshop,
Hepza inked an agreement with the
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Tư, 2 tháng 7, 2014
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