BUSINESS IN BRIEF 31/8
Petrolimex
cuts price of gasoline
The Viet
Nam National Petroleum Group (Petrolimex) reduced the selling price of its RON
92 gasoline by VND470 (2.23 US cents) per litre to VND23,740 ($1.13) per litre
from yesterday.
The
prices of 0.05S diesel and kerosene also declined by VND160 (0.7 cent) and
VND180 (0.8 cent) per litre to VND21,930 ($1.044) and VND22,070 ($1.05),
respectively. The price of Mazut 3.5S will also be reduced to VND18,320 ($0.87)
per kilo.
According
to officials of the Ministries of Finance, and Industry and Trade, the selling
price of RON 92 gasoline was higher than the base price by VND464 (2.2 cents)
per litre. So the ministries asked Petrolimex to bring down the price to ensure
that it was not higher than VND23,746 ($1.13) per litre.
The
selling prices for diesel, mazut and kerosene overcame the base prices from
VND52 (0.24 cent) to VND151 (0.7 cent) per litre and per kilo.
Military
Bank to open five new branches across country
The State
Bank of Viet Nam (SBV) has approved the request of the Military Bank to open
five new branches, increasing the total number of branches nationwide to 65.
The
branches will be located at the capital city's Son Tay District and in the northern provinces of Hoa Binh and Son La, central province of Binh Phuoc
and southern province of Kien Giang 's Phu Quoc Island
Sembcorp
readies to construct thermal power plant
This
central province will turn over 141 hectares of cleared land to Singapore
The
turnover for the Dung Quat Thermal Power Plant Project, to be built in the
first quarter of 2016, was announced at a meeting last Wednesday between Le
Viet Chu, Chairman of the Provincial People's Committee and Kian Min Low,
Sembcorp head of business development.
At the
meeting, Kian Min Low expressed hopes that the province and the management
board of the Dung Quat Economic Zone would soon proceed with a framework
agreement on the 2,100 MW power plant project.
The first
phase of the project, with an investment capital of US$2 billion, is expected
to be operational by the third quarter of 2020, and the entire project is
expected to be fully operational by 2021. The plant is expected to produce
seven billion kilowatt hours of electricity per year.
Air
Busan launches Busan-Da Nang direct flight
The
central city of Da Nang
Air Busan
will launch its regular flights to Da
Nang
Last May,
the central city began a tourism promotion programme in Seoul , South Korea
Tourists
from South Korea comprise
the second-largest segment of foreign tourist arrivals in Da Nang
Amata
Group to invest in hi-tech park
Amata
Group of Thailand
The
US$350-million mega-project is expected to transform a 1.285-ha property into a
modern, international-level urban area that will boost the district's
socio-economic development.
The
project is divided into three stages. The first involves the construction of a
high-technology park that will attract investors in nano and biological
technologies. The second involves the setting up of an urban zone consisting of
apartments, hospitals, schools and logistics infrastructure. The third involves
the construction of shopping malls and food and entertainment outlets.
CapitaLand
Thien Duc, the developer of residential project Vista Verde in HCM City
There
will be four towers with over 1,150 apartments, a commercial area, and
amenities including swimming pools.
The
apartments are expected to be handed over to buyers in mid-2017.
This is
the fourth project in Viet
Nam HCM City Mulbery Lane
SSC to
publish information in English
The State
Securities Commission will provide samples of information disclosure appendices
in English for company reference, a move aimed at facilitating access to
information on domestic companies by foreign investors.
Earlier,
the commission urged public companies to disclose information in English and
build websites in both Vietnamese and English to attract more foreign
investments.
Vietcombank
guarantees KLF share sale
Vietcombank
Securities Company (VCBS) and KLF Joint Venture Investment International JSC
(KLF) on Thursday signed an underwriting agreement that will help KLF sell 74
million shares to the public.
This will
increase KLF's charter capital from VND740 billion (US$35 million) to VND1.517
trillion (nearly $72 million).
In the
first half of this year, the company's pre-tax profit reached nearly VND60
billion ($2.8 million), 10 times higher than the same period of last year and
equivalent to 60 per cent of its yearly profit target.
PVcomBank
sells oil shares
Vietnam
Public Bank (PVcomBank) will sell nearly VND600 billion (US28.4 million) stakes
in two oil and gas companies in the next two months in an effort to restructure
its portfolio.
The bank
will sell five million shares in PetroVietnam Technical Services Corporation
(PVS) from September 4 to October 1. With the current price of more than
VND40,000 ($1.90) a share, it expects to collect VND200 billion ($9.5 million).
After the sale, its holding will reduce from more than 26 million shares to
nearly 21.1 million.
The bank
also put four million shares of PetroVietnam Drilling & Well Services
Corporation (PVD) up for sale.
National
flag carrier Vietnam Airlines plans to make its initial public offering (IPO)
in the next three months, President of the company, Pham Ngoc Minh, told the
Wall Street Journal.
The move
is one of the most anticipated equitisations of big State corporations in Viet Nam
Minh said
the carrier would sell 5 per cent of its stakes and expected to raise VND1,500
trillion (about US$71 million). It also planned to sell another 20 per cent of
total capital to one or more strategic investors. Several potential strategic
investors are from Japan
After the
IPO, the State will hold the remaining 75 per cent of the airline's shares, but
Minh said the Government would sell more stakes in the future.
Phu
Quoc plans golf course, eco-tourism resort
The plan
is contained in the proposal that the Island 's
Investment and Development Management Board has submitted to the Kien Giang
Provincial People's Committee. The Board is asking the People's Committee to
allow FLC Group to be the project investor.
Construction
for the project, which covers a land area of around 560 ha, is expected to
begin by the end of this year and is to be completed in five years.
The
complex will include modern infrastructure such as a five-star resort and
hotel, entertainment area, water park and pagoda. A golf course, restaurant
system, convention centre and helicopter services area will likewise be built.
Rolls-Royce
launches showroom in Viet Nam
Rolls-Royce
Motor Cars officially opened its showroom in the capital city to the public on
Wednesday as part of its continued expansion across the Asia-Pacific region.
Paul
Harris, Director of Rolls-Royce Motor Cars in the Asia-Pacific, said at the
launching that the luxury car manufacturer has foreseen increasing demand for
Rolls-Royce vehicles in Viet Nam even as company revenue in the Asia-Pacific
region increased by 40 per cent year-on-year.
Rolls-Royce
has committed to providing the best service to existing and potential car
owners, from vehicle orders to sales and after-sales, said Harris.
Supermarkets
stock up ahead of holiday
With the
National holiday approaching, retailers, electronics stores and supermarkets
have kicked off a series of promotions and increased supply of essential goods
to meet demand.
The Big C
supermarket chain said it expected purchases to rise by 30 per cent over the
holiday compared to normal days.
The store
will stock more fresh, processed and packaged food, beer and beverages for the
holiday period, said Ho Quoc Nguyen, Big C Viet Nam's public relations director.
In
addition, Big C is offering discounts of 5-40 per cent on more than 2,000
products until September 8 under two promotion programmes, he said.
Lotte
Mart expects sales to increase by 20 per cent on the national holiday compared
to the same period last year.
It has
stocked more goods, and is offering discounts of up to 49 per cent on hundreds
of products, including food, fashion products, cosmetics, confectionery,
beverage and fruit under its "Gio vang gia soc" (Shock prices during
the golden hours) programme from 3pm to 7 pm.
Saigon
Co.op said it would be stocking more goods in coming days as well.
The
"Proud of Vietnamese goods" programm at Co.opmart supermarkets, Co.op
Food stores, and Co.opXtraPlus hypermarket will include discounts of up to 50
per cent on more than 3,000 essential products until September 14.
Big C as
well as other supermarkets plan to increase home-delivery services. They will
add cashiers and security officers to ensure convenience and safety for
customers.
Many
electronics shops in HCM
City
In
addition, products will be discounted up to 49 per cent at the Promotion Fair
2014 to be held at the Phu Tho Indoor Stadium in District 11 from August 29 to
September 3.
The fair
features 500 booths showcasing and selling foodstuffs, drinks, clothes,
footwear, autos, motorbikes, electronic products, school items, cosmetics and
healthcare products, among many others.
Vietnam
- second most listed location for business expansion in ASEAN
The poll
was conducted from May 5 to June 5 with 588 senior executives representing US
companies in all ten ASEAN countries, including 77 in Vietnam
As many
as 37 percent of respondents region-wide reported that their companies had
plans for future business expansion in Vietnam ,
only after Indonesia
More than
half, 57 percent, of respondents in Vietnam
The
American senior executives pointed to some strengths of Vietnam , including positive sentiments toward
the US
Respondents
indicated dissatisfaction about laws and regulations (49 percent),
infrastructure and tax structure of Vietnam
Credit
growth projected at 4.5% in first eight months
Nguyen
Thi Hong, SBV Deputy Governor, revealed this at a conference held in the
capital city yesterday that reviewed eight months of Vietnamese banking sector
operations.
Hong
explained that credit growth in August was 3.68 per cent higher than that in
July but remained lower than that in the same period last year. She said this
growth rate was below expectations in light of the Government's target of 12 to
14 per cent growth in credit for 2014.
The SBV
Deputy Governor said she expected credit growth to reach 10 per cent by
year-end but expressed hopes that it would exceed this figure.
As of
August 21, the total means of payment rose by 8.86 per cent while deposit
growth rate went up by 8.21 per cent, with deposit in dong rising 8.77 per cent
and deposit in foreign currency going up by 4.2 per cent compared with the same
period last year. The liquidity of credit institutions remained abundant and
the interest rate of the inter-bank market was stabilised at a low level.
Hong said
the lending rate of credit institutions was expected to decline by 0.5 to 1.5
per cent in 2014.
Currently,
credit institutions have adjusted the interest rate of old loans. As of August
14, outstanding loans in dong with an interest rate of more than 15 per cent
accounted for 4.45 per cent of the total number of loans, while outstanding loans
with an interest rate of more than 13 per cent accounted for 12.45 per cent.
Hong also
revealed that Vietnamese commercial banks' bad debt ratio rose to 4.84 per cent
by late June 2014, representing a 3.61 per cent increase from that of the same
period last year.
She
attributed the increase to sluggish production and business, resulting in a
delay in debt payments for a number of businesses, and the implementation of
new debt regulations in SBV's Circular No 09/2014/TT-NHNN on the classification
of bank risk.
The
circular, which deals with the classification of bank assets, the setting up of
risk provisions and the manner by which provisions against credit risks are to
be deployed, will force an increase in risk provisioning, according to Hong.
It will also
allow the banks to continue restructuring existing loans and retain them in the
same debt group until April 1, 2015, instead of reclassifying them by using
more rigorous standards by June 1, 2014, as previously planned.
At the
conference, the Chairman of the Viet Nam Asset Management Company (VAMC) told
reporters that since October 2013, his company had purchased VND58.9 trillion
(US$2.8 billion) worth of bad debts from 35 credit institutions.
In 2014
alone, VAMC purchased bad debts worth VND19.6 trillion, but this indicated a
decline in the number of such purchases.
The VAMC
Chairman explained that the purchase of bad debts formed part of a roadmap and
plan to restructure the non-performing loans of credit institutions. He added
that VAMC had to consider the quality of bad debts before making the purchase.
Explaining
why purchased bad debt was lower than total non-performing loans (NPLs) of the
banking system, Hong said VAMC was not a "magic wand" to be used in
the handling of NPLs
The SBV
Deputy Governor explained that VAMC's handling of NPLs aimed to encourage
credit institutions to offer more loans and reduce interest rates for lending
in order to assist businesses.
Hong said
the SBV would continue to boost the process of handling NPLs and would ask credit
institutions to enhance risk provisioning and use it in handling bad debts.
Positive
outlook for enterprises
The
number of enterprises resuming their operations has increased considerably in
the January - August period, the Nhan Dan (People) online newspaper reported.
According
to the General Statistics Office (GSO), in the last eight-month period, 10,900
enterprises have restored their operations, an increase of 2.6 percent over the
same period in 2013.
Notably,
in August alone, as many as 1,496 enterprises have come back into operation, up
35.2 percent compared to last month. However, this month saw a decrease in the
number of newly-established enterprises and registered capital with 5,052
enterprises and 27.3 trillion VND, down 0.6 percent and 13.2 percent
respectively when compared with July.
In the
January - August period, 47,000 enterprises have been set up with a total
registered capital of 289.8 trillion VND, down 9.5 percent in the number of
enterprises established but up 14.2 percent in registered capital against the
corresponding period last year. The average registered capital per enterprise
was 6.1 billion VND, a year-on-year increase of 26.2 percent.
The
report from the GSO indicates that in the last eight months the electricity,
water and gas production and supply sectors were among the sectors displaying
the most positive economic signs as the number of newly-established enterprises
went up by 12.4 percent and the number of un-operational or dissolved
enterprises fell by 27.9 percent.
In the
meantime, several sectors still face many difficulties such as the wholesale,
retail, automobile repair, tourism, job services among others.
Binh
Thuan honours rural industrial products
As many
as 23 rural industrial products of the central province of Binh Thuan
As part
of an effort to further the development of rural industrial products, a voting
campaign was held by the local broadcasting and television station and the
provincial Department of Industry and Trade to select outstanding products for
the recognition.
The
programme saw the involvement of 20 units in the locality with 36 products of
different types such as decorative items, supplementary food, beverage, spice
and equipments for agriculture and construction.
The
recognised products will be recommended at supermarkets and the province’s
booths at exhibitions. In addition, businesses with the products will enjoy
support for production and be provided with personnel training.
Also at
the ceremony, 12 of the 23 typical products were selected for a similar vote
for the southern region.
“From now
until the end of the year, authorities of districts and departments in the city
will have to reassess all projects” in accordance with the Law on Public
Investment, which will come into force next January, Director of Department of
Planning and Investment Thai Van Re was quoted by Saigon Times Daily as saying.
Re told a
conference on building the social-economic development plan for 2016-2020 as
well as the medium-term plan for public projects in the same period in Ho Chi Minh City
According
to the department, capital for public investment projects in the 2016-2020 will
be disbursed in order of priority. Capital will be first disbursed for projects
due to be finished before the year’s end, then for those expected for
completion next year, and counterpart capital for ODA (official development
assistance) projects or projects using foreign preferential loans.
The city
has planned to put aside 15 percent of total capital for public projects in the
five-year period to deal with unexpected situations such as changes of prices,
investment for urgent projects and other issues which may arise, in accordance
with the Law on Public Investment.
HCM City
Chairman Le Hoang Quan said the city welcomes the initiative to make five-year
plans for public investment projects.
He took Hoang Hoa Tham Bridge
crossing the Nhieu
Loc-Thi Nghe
Canal
On August
5, 2014, the Government issued Directive 23/CT-TTg as guidelines for building
medium-term plans for public investment projects, requiring localities across
the country to evaluate their public investment results in the 2011-2015 period
and set up the plan for the five-year period of 2016-2020.
According
to the directive, localities and departments have to settle all debts arising
from public investment projects by the end of this year and from next year,
they have to strictly follow regulations of the Law on Public Investment and
allow no more debt to arise.
Ben
Tre coconut crops bring in higher profits
The area
under coconut cultivation in Ben
Tre Province
Speaking
to Viet Nam News on the sidelines of "the Viet Nam Coconut – Value and
Prospects" seminar held in HCM City yesterday, Tran Anh Tuan said profits
from coconut cultivation had been better than other crops.
"Intercropping
coconuts with other trees like citrus fruits and cocoa can offer farmers 50 per
cent higher profits than a coconut monoculture," he said.
The
province has about 65,000 ha of coconuts, yielding about 450,000 to 500,000
tonnes per year.
Most
coconut products are consumed in the domestic market for confectionery and
industrial processing.
Enterprises
have exported a significant amount of copra, canned coconut milk and coconut
water and other coconut-based products to the EU, North America and Middle East .
The
province earns about US$200 million from exports of fresh coconuts and
coconut-based products each year, accounting for one-third of the province's
total export revenue.
Coconut
processing firms in the province had invested in production technology in an
effort to raise their product quality as well as increase the export of high
value-added products, Tuan said.
In
addition, the province had implemented programmes to help farmers increase
their coconut productivity, connect farmers with businesses, and support firms
in upgrading their production chain.
These
measures were expected to enable the provincial coconut industry develop in a
sustainable manner, he said.
In the
wake of climate change, coconut trees would become more common and popular
since they are more adaptable to such changes than other trees.
Cao Ba
Dang Khoa, deputy general secretary of the Viet Nam Coconut Association, said
the association would carry out trade promotion programmes to promote the
export of coconut products, in collaboration with government agencies.
All parts
of the tree, including coconut palms and nuts, can be used, providing materials
for many industries, including the processing industry and tourism, according
to the Research Institute of Oil and Oil Plants.
Organised
by the VCA and the HCM City University of Social Sciences and Humanities, the
seminar was part of Viet Nam Coconut Week
RoK
firms in Dong Nai get update on customs rules
The
Customs Department of the southern province of Dong Nai organised a talk with
130 enterprises from the Republic of Korea (RoK) located in the locality on
August 28, updating them on new tax and customs regulations, and providing them
an opportunity to express their opinions.
The firms
were informed of a new circular issued by the Ministry of Science and
Technology on the import of second-hand equipment, as well as policies on
corporate income, foreign contractor tax and value-added taxes.
Representatives
from the department also answered the investors’ questions on customs clearance
procedures, investment incentives, regulations on the recruitment of
foreigners, and health insurance.
According
to head of department Le Van Danh, the local customs sector will continue its
efforts to shorten the duration of customs clearance, make fees more
transparent, and support enterprises via direct dialogues and other channels.
So far,
RoK businesses have invested in 280 projects worth more than 4.3 billion USD in
Dong Nai, ranking second among foreign investors in the number of projects in
the province. As many as 10 percent of Vietnam
Lam
Dong invests in high tech agriculture
Central
Highlands province of Lam Dong is now Vietnam
Of which,
7.4 trillion VND (347 million USD) was contributed by the people.
At
present, the province has nearly 40,000ha of arable land where advanced
agricultural technology is being applied, with 14,600ha used for fruit and
vegetable production, 15,300ha for coffee production, and 5,600ha for tea
production.
The
production value per unit in the province’s AHZ reached approximately 255-300
million VND per ha in 2013, more than double that of regular arable land.
Meanwhile,
around 120 organizations and individuals throughout Lam Dong have been
recognised as fulfilling international high tech agriculture production
standards.
Moreover,
the Ministry of Agriculture and Rural Development has officially licensed 4
enterprises as high tech agricultural firms.
Japan
imports 2.880 moon cakes from Lam Dong
The Tuong
Huy Co. Ltd. in the Central Highlands of Lam Dong is exporting 2.880 moon cakes
to Japan
The trade
deal is worth 56 million VND (2600 USD), and marks the first sale of moon cakes
from the Central Highlands to overseas markets.
Each box
of moon cakes contains 18 cakes with over 10 difference flavors, including ham,
turkey, and coconut milk. The moon cakes weigh 40g each, and are wrapped in tin
foil and Polypropylene plastic, guaranteeing food safety for Japanese
consumers.
Moon
cakes are a must have delicacy on the occasion of the annual Mid-Autumn
festival. They symbolise luck, happiness, health and wealth, and during the
festival they are usually accompanied by colourful lanterns of different shapes
and sizes, making this a favourite holiday for children.
This
year’s Mid-Autumn festival falls on September 8th.-
Capital
flow pours into local fibre industry
The local
fibre industry has been booming on the back of rocketing investment, the
Vietnam Investment Review (VIR) reported.
After
many years of reliance on material imports, the local garment industry has
become much more independent.
Among the
leaders in the spinning business is Phong Phu Joint Stock Corporation, which
operates three companies producing and trading in fibre and eight spinning
factories providing a variety of quality fibres and threads.
“Phong
Phu’s fibre products feature strong visibility in the domestic market,
particularly in the high-end segments such as OE cotton or cotton ring fancy.
Besides, our company is the main distributor of quality thread to UK-based
Coats Group,” said the company’s general director Pham Xuan Trinh.
Phu Nam
Fibre JSC, based in the Phu Bai Industrial Park
in the central province
of ThuaThien-Hue
The
company envisages scaling up production to surpass 30,000 spindles to meet
growing demands both at home and abroad.
With
approximately 500 billion VND (23.8 million USD) in the total revenue last
year, of which exports accounted for 40 percent, Tra Ly Fibre JSC has made a
significant contribution to fulfilling the demand of fabric producers.
Its new
spinning factory, with 15,000 spindles and costing 160 billion VND (7.6 million
USD) in the total investment capital, was commissioned in the second quarter
this year.
Hanoi
Textile Garment Joint Stock Corporation (Hanosimex) is a typical example when
it comes to making investment into boosting fibre production capacity.
“Our 410
billion VND (19.5 million USD) project to invest in 36,000 spindles with the
annual capacity of 6,400 tonnes of quality fibre was approved by parent company
Vinatex and is slated to kick-off construction early next year,” said the
company’s general director Nguyen Song Hai.
The
Vietnam Cotton and Spinning Association (VCOSA) has forecasted that export
surplus in the fibre industry could be in the range of 1-1.1 billion USD this
year, compared to 600 million USD in the first eight months of this year.
VCOSA
statistics show that by the end of 2013, Vietnam
Of the
720,000 tonnes, 250,000 tonnes is distributed domestically and 470,000 tonnes
is earmarked for export.
Purchasing
power edges higher
The
purchasing power of Vietnamese residents increased slightly in the first eight
months of 2014, following an increase in the purchase of goods and services.
Officials
of the General Statistics Office (GSO) attributed the slight increase to a 0.25
percent increase in the total retail sales value of goods and services in the
first seven months of the year.
Figures
from the GSO also showed that in the first eight months of 2014, total sales
value reached 1,900 trillion VND (90.5 billion USD), representing an 11.4
percent year-on-year increase.
Retail
sales accounted for more than 75 percent of sales value at 1,400 trillion VND
(68.14 billion USD), a 10.7 percent year-on-year increase.
Revenue
from hotels and restaurants made up 12 percent of total sales value and
increased by 11.8 percent over that of the same period last year. Sales from
other services made up 12 percent of total value, representing a 15 percent
year-on-year increase.
Vu Manh
Ha, a GSO economist, attributed the slight increase in sales to the surge in
public demand during the seventh lunar month and just before the new school
year, which begins in early September.
Sales of
items on culture, education and worship increased by 45 percent while those of
school uniforms and bags increased by 21 percent, food and foodstuffs by 13
percent and other commodities by 21 percent.
Ha said
purchasing power in the first eight months had not yet exceeded the 7.2 percent
increase seen in the January 2014, before the lunar new year.
Government
press briefing declares economy in recovery
In the
government’s monthly press briefing in Hanoi
In August
2014 and eight months this year, the economy is on the road to recovery, with
an estimated growth rate of 5.54 percent for the year’s first three quarters.
For the
last quarter, Prime Minister Nguyen Tan Dung has demanded maximum efforts to
achieve an annual economic growth of 5.8 percent for 2014, Nen said, promising
that the economic restructuring will be more drastic, with focus on
restructuring public investment, state-owned enterprises, commercial banks and
agriculture.
Progress
has already been made towards restructuring public investment, but efforts need
to continue if inefficiency is to be avoided. Nen said the leader also pushed
for a radical and strict approach to reshuffling ineffective SOEs and banks.
Looking
to socio-economic performance in 2015, the PM set a target of 6.2 percent
economic growth, and around 5 percent for inflation and the budget deficit.
In order
to realise these objectives, cabinet members proposed developing the
processing, support and mechanical industries further and boosting high tech
farming, as well as attracting more investments.
Israel
wishes to promote agricultural links with Hau Giang
Israeli
Ambassador to Vietnam Meirav Eilon Shahar said her country is willing to
support Vietnam , including
the Mekong Delta province
of Hau Giang
The
diplomat gave her statement during a working session with local key officials
on August 28, which discussed plans for the two sides to increase links in the
future.
Furthermore,
Israeli firms are keen to invest in agriculture and aquaculture, especially in
processing and production, she added.
According
to Shahar , Israel
has helped Vietnam
The
Israeli Government has developed a detailed plan for student exchanges between
its universities and those in Hau Giang, the ambassador noted.
Chairman
of the Provincial People’s Committee Tran Cong Chanh briefed the guest on the
locality’s socio-economic development, stating that Hau Giang is seeking
investment in hi-tech agriculture, especially seed production and
post-processing technologies.
He
pledged to ease administrative procedures for Israeli enterprises to invest in
the province.
SMAC
helps boost Vietnam
SMAC, a
combination of the elements of social, mobility, analytics and cloud, offers a
good opportunity for Vietnam
Hoang Le
Minh, Director of the Vietnam National Institute of Software and Digital
Content Industry under the Ministry of Information and Communications, made
this declaration during a conference on SMAC on August 22: The Platform for
Smart Development.
Minh said
that among the four elements, all users could understand social and mobility
but would find it difficult to understand and have knowledge of analytics and
cloud.
"The
Government and enterprises must understand clearly about analytics and cloud
because they are the foundation and tools for development. However, in order to
apply SMAC successfully in Vietnam, the Government, companies and scientists
need to cooperate closely and more effectively and have to build a long-term
development process," Minh added.
For the
period of 2014-15, the Government has formulated a strategy to develop science
and technology. Minh said that this was a crucial time for the Government to
develop SMAC to increase the country's capability to compete. He also suggested
that the Government build national-scale infrastructure for analysing data.
The
ministry has assigned the institute to develop models for applying cloud and
analytics for Vietnam US
Gartner's
executive partner, Jonathan Krause, said the internet was effectively
connecting the real world with the virtual world, and this had changed the
nature of business by enabling customers to get involved.
In 2009,
things connected to the internet were smaller than people connected to the
internet by personal devices. However, this trend was expected to be reversed
in 2020.
According
to the results of a survey by Gartner, technology has branched out into two
sides: new things such as analytics, mobility and digitalisation on one hand,
and renovation of existence, including data systems and security, on the other.
Krause said that the chief information officers (CIOs) of enterprises have to
operate both at the same time, but not with the same team.
In 2014,
the expenditure for information technology worldwide is projected to reach 3.8
trillion USD. Its cost in the Asia-Pacific region is expected to be 767 billion
USD, a 5.5 percent increase compared with that of 2013. SMAC is believed to be
one of the main factors that is sparking this rapid development.
Nguyen
Minh Hong, Deputy Minister of Information and Communications, said the rapid
development of information technology had contributed to the renovation of the
model of growth.
"Mobility,
big data, cloud, and social have brought the smart development trend to all
areas. This is an opportunity and a challenge for each country to increase its
capacity for competitiveness and gain a position in the digital world,"
Hong said.
The
conference was organised to mark the first Information Technology Day 2014,
which attracted 400 participants. Sponsored by the Ministries of Information
and Communications, and Science and Technology, the event will be held annually
to create a high-quality forum on science and technology and raise public
awareness of IT application and development for Government offices,
organisations, enterprises and people.-
The area
under fragrant rice varieties in the Cuu Long (Mekong) Delta province of Soc Trang
Around
half the fragrant rice grown in the province is of the ST variety - from ST1 to
ST21 — created by local scientists.
Tran De,
Thanh Tri, and My Xuyen districts and Nga Nam
In Tra
Ong Hamlet in Tran De's Vien Binh Commune, many farmers have become wealthy
growing the grains.
Tran
Nhenh, who grows ST5 on 5ha in Tra Ong, said his family earned VND100 million
(US$4,700) from each crop.
"ST5
is planted thrice a year and has consistent yields if proper farming techniques
are used," he said.
ST5,
which is resistant to diseases and grows well in saline-affected soil, has an
average yield of eight tonnes per hectare.
Before
2000 Tra Ong, which has more than 800 families of whom 96 per cent are ethnic
Khmer, was one of Vien Binh's poorest hamlets with a poverty rate of more than
50 per cent.
Since
then transportation and irrigation systems have been developed here and farmers
gradually switched to high-quality rice varieties like ST5.
The
poverty rate is now down to 15 per cent and more than 50 per cent of its people
are wealthy.
Duong
Thanh Hung, deputy chairman of the Vien Binh Commune People's Committee, said
the prosperity was owed to ST5.
"Thanks
to the planting of ST5, the lives of farmers, especially Khmer ones, have
improved significantly."
Tra Ong
has set up the May 1 Cooperative with more than 700 households to grow ST5.
The
co-operative's members have contracts with food companies to sell their rice
and thus have a stable outlet.
Tran
Hoang Dung, deputy head of the Tran De District Agriculture and Rural
Development Bureau, said from 13 per cent in the beginning, the area under ST
rice varieties had increased to 30 per cent now, with most of it being ST5.
Tran De
planned to grow ST5 in all its rice cultivation areas, he said.
The grain
fetched VND700-1,000 a kilogramme higher than normal varieties, he said.
"Traders
like ST5 because it has high quality and demand."
Farmers
who grow ST5 and ST20 in large-scale rice fields have contracts to sell to food
companies.
To
develop the farming of fragrant rice varieties, local authorities offer
training to farmers.
Quach Van
Nam, director of the province's Department of Agriculture and Rural
Development, said farmers wanted to grow fragrant rice varieties that have
guaranteed outlets.
"We
support this trend and will try to expand this model," he said.
Soc
Trang's soil is ideal for growing fragrant rice.
Its
grains are in much demand in the domestic market and are also exported to
several countries, including China
Soc Trang
is the delta's leading province in growing fragrant rice, having increased the
land under these varieties to 83,000ha this year from 57,000ha last year,
according to the department.
Of this
19,000ha are part of 163 large-scale fields formed by pooling lands belonging
to nearly 15,000 families.
The
National Office of Intellectual Property awarded the "Soc Trang fragrant
rice" trademark to the province's ST varieties in 2011.
In 2011
ST20 won the first price in the " Delicious Rice – Viet Nam Brand"
contest.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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