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BUSINESS
IN BRIEF 10/11
Jan-Oct
export-import tax collections up 14.4%
The department said
of the amount collected, VND10.3 trillion was from exports, VND55.1 trillion
from imports, VND12.6 trillion from special consumption tax, VND128 trillion
from value added tax, VND244 billion from environmental protection fee and
VND230 billion from others.
Explaining the
strong year-on-year increase, the department said some products registered
higher import revenues such as machine, equipment and spare parts (up 20.4%),
oil and gas (up 19.4%), steel and iron (10.5%), automobiles (up 93%), auto
parts (up 28.6%), coal (up 44%), chemical products (up 16.4%) and wood
products (up 55.5%).
The department
estimated total export and import value in the first ten months of this year
at over US$244 billion, increasing by 12.3% year-on-year. Of which, export
stood at US$123 billion, up 13.4%, while imports rose 11.2% to around
US$121.2 billion.
The department
calculated the nation ran a trade deficit of US$400 million in October but
post a trade surplus of US$1.86 billion in the year to October.
FPT IS wins
US$1.4 million deal in
FPT Information
System Company (FPT IS), a subsidiary of FPT Group, has won a US$1.4-million
contract to install an IT system for the Philippine government to manage
complaints of its citizenry.
The bidding package
is the first to be won by FPI IS in the
The deal requires
FPT IS to provide, install, test and transfer the system to the
The project is
expected to be carried out in ten months at governmental agencies including
the Department of Finance, the Bureau of Internal Revenue, and the Bureau of
Customs.
FPT IS will work
with those agencies to establish the database system for denunciations and
accusations in each year and help improve the process of handling such
complaints and accusations.
Filipino
authorities can also use the database system to easily find out changes in
governmental agencies based on the number of petitions, while the government
can manage activities of its agencies more closely.
FPT IS has defeated
bidders from the
The company will
open its representative office in the
Le Anh Tuan,
director of the globalization department of FPT IS, said the Philippines is
one of the company’s major markets as the country shares cultural
similarities to Vietnam’s and in recent years, the Philippines has focused
investments on the IT sector.
Leaders of FPT IS
expect to win a second contract in the
Brackish
water shrimp farming sees record growth
Brackish water
shrimp aquaculture has seen a record growth in 2014, said Minister of
Agriculture and Rural Development Cao Duc Phat at a conference on November 4.
This year, the
country has an estimated 685,000ha of brackish water shrimp farms which
produce a total output of 660,000 tonnes, up 4.4 percent in terms of area and
20.4 percent in production.
In the first nine
months, the export of shrimp earned the country 2.93 billion USD, a 17.2
percent rise compared to the same period last year.
At the same time,
the industry is facing a number of problems including unstable market prices
and seasonal diseases.
Minister Phat urged
relevant agencies to timely equip farmers with updated market information and
expand certified shrimp cultivation models while actively implementing
disease prevention programmes. He also noted that there is a need to continue
expanding the market, especially in the
In 2015, the
industry aims to expand the farming area to 700,000 ha for an output of
700,000 tonnes, year-on-year increases of 2.2 and 6.6 percent, respectively.
Ha Tinh
province invites more Singaporean investment
Minister of
Planning and Investment Bui Quang Vinh called for more investment from
Singaporean firms in the central province Ha Tinh, pledging to improve the
locality’s investment climate.
The Vietnamese
Government is committed to ensuring the safety of international enterprises
and creating favourable conditions, including for Singaporean firms, Vinh said
during a seminar jointly organised by the Singapore Business Federation and
the Vietnamese Embassy on November 5, which was attended by representatives
from around 100 Singaporean and Asian firms.
Ha Tinh enjoys a
strategic location in the East-West Economic Corridor, connecting the
northern, central and southern regions of
Meanwhile, Chairman
of Ha Tinh’s People’s Committee Vo Kim Cu highlighted the province’s
potential, advantages and investment opportunities, as well as its preferential
policies to attract investment to its industrial parks, including Vung Ang
and Cau Treo.
Ha Tinh is one of
the localities that benefit the most from the Government’s preferential
investment policy in terms of tax and land use regulations, especially for
projects in Vung Ang industrial park and Cau Treo border gate economic zone,
he noted.
In addition, the
province vows to support investors with ground clearance, infrastructure
construction and human resources development, he stated.
The provincial leader
encouraged Singaporean firms to get involved in ship repairs, maintenance and
maritime services; industrial park development; logistics; administrative,
banking and insurance services; and the construction and management of
hospitals and schools.
Phan Toan Thang,
Founding Director of Cell Research Corporation Pte Ltd, expressed an interest
in investing in healthcare services in the province.
Meanwhile, Lee Yee
Hern, Chief Financial Officer of Kinderworld, said he was keen to contribute
to Ha Tinh’s education sector and professional capacity development,
targeting thousands of workers in local industrial parks.
Following the
seminar, a number of cooperation documents were signed, including a
memorandum of understanding on the partnership between LC Travel Planner and
Ha Tinh’s Department of Planning and Investment on a project to turn Ha Tinh
City into a trade centre and hotel and tourism complex; and another between
Ruixin Investment Pte and the Management Board of the Ha Tinh Economic Zone
on a logistics project in Vung Ang economic zone.
Agribank
expands cross-border payment services in
The Vietnam Bank
for Agriculture and Rural Development (Agribank) signed an agreement with the
Agricultural Promotion Bank (APB) of
Agribank has
offered cross-border payment services on the Lao market since 2008, with APB
and PSVB being its first two partners.
Speaking at the
launch ceremony, PSVB Managing Director Sengdao Bouphakonekham spoke highly
of the expansion of Agribank’s operations in
The successful
establishment of the cross-border payment system via internet banking with the
two Lao banks marks a step forward, helping the parties involved develop
their products and provide excellent and diversified services for their
customers, which contributes to trade and investment between the two
countries.
As of September 30,
Agribank’s total assets amounted to approximately 36.6 billion USD. The bank
has developed a network with 1,000 financial institutions and banks in nearly
100 countries and territories. International financial institutions entrusted
the bank with nearly 7 billion USD.
A project aiming to
help enhance the capacity of
The project targets
Vietnamese small-and-medium-size enterprises and will be implemented in
Hanoi, Ho Chi Minh City and several other provinces until June 2017 with a
budget of nearly 413,000 EUR, of which the EU funds 371,000 EUR. It is part
of the European Trade Policy and Investment Support Project (EU-MUTRAP).
Ho Le Nghia, Deputy
Director of Industrial Policy and Strategy Institute, noted that the
government has prioritised the development of the support industry with a
view to ensuring provision for other domestic industrial sectors and playing
a greater role in the global supply chain.
He said not only
domestic enterprises but also European and international customers will
benefit from the project.
According to
Director of Supporting Industry Enterprise Development Centre Truong Thi Chi
Binh, the programme entails a series of practical activities such as
conducting research on local makers’ capacity; launching training courses on
technical knowledge and quality-management skills; and supporting
The Japan
International Cooperation Agency (JICA) pledged to send its experts to help
southern provinces improve business environment from now to September 2015
during a working session with the People’s Committee of the southern
Kikuchi Tadashi
from JICA said this is part of a large-scaled cooperation programme between
the agency and
Vice Chairman of
the Binh Duong provincial People’s Committee Tran Thanh Liem spoke highly of
JICA’s “initiative”, saying that it will open up more opportunities for both
sides, and help improve investment climate in the province as well the
southern region.
Most of the
projects operate in electronics, medical equipment, food processing and real
estates, and trade and services.
Banks pledge continued credit priority for Mekong Delta
The banking sector
will continue to give lending priority to rice production, aquaculture and
fruit cultivation and processing in the Mekong Delta to help the region fully
tap its potential for sustainable development, according to Governor of the
State Bank of Vietnam (SBV) Nguyen Van Binh.
The governor made
the promise at a workshop on banks’ role in agricultural restructuring and
rural development in the Mekong Delta which was held in Soc Trang province on
November 5 as part of the Mekong Delta Economic Development (MDEC) forum.
Governor Binh said
his bank will continue investing in infrastructure development and carrying
out the Government’s credit programmes to for rice production and
aquaculture.
Participants
focussed their discussion on the impacts of the SBV’s credit policy on
agricultural restructuring and new style rural area in the region, the
obstacles in credit access for business and household production units, as
well as the factors affecting the quality and efficiency of credit activities
in agriculture and rural development in the Mekong Delta.
They also proposed
solutions to enhancing local credit organisations’ capacity in mobilising
capital and lending.
It was noted that
difficulties in credit activities in the Mekong Delta include the dominance
of small-scale businesses; loose production-processing-consumption chain; and
ineffective distribution channels.
Last year, the
Mekong Delta’s credit growth reached 12.4 percent. As of September 30 this
year, total outstanding loans of credit institutions in the region stood at
VND331.5 trillion (US$15.7 billion), up 8.49% from the end of last year and
accounting for 9% of the national banking system’s lending. Statistics also
showed nearly 70% of the loans were short-term.
Investment in
agriculture and rural areas has increased significantly in recent years with
outstanding loans totalling VND160 trillion (US$7.6 billion) by September 30.
The figure showed a 7.5% rise compared to the end of 2013, accounting for 22%
of total loans in this field nationwide
The Mekong Delta,
comprising one city and 12 provinces, accounts for 27.2% of the country’s
agricultural land.
The region
contributes 40.7% of the national agro-forestry output, 53.4% of rice, 70% of
fruit and 68.7% of seafood.
Ninety percent of
the country’s rice export volume and 70% of seafood export turnover come from
the region, according to the Ministry of Agriculture and Rural Development.
Jetstar
Pacific receives first Airbus 320 with Sharklet wings
Jetstar Pacific
took delivery of its ninth Airbus A320 aircraft on November 5 and the first
equipped with Sharklet wings at Tan Son Nhat international airport in
The 180-seat
aircraft was registered under VN-A561 and placed in service on November 6 to
serve passengers in both domestic and international air routes.
This is the ninth
modern aircraft slated for receipt by Jetstar Pacific, which previously
announced plans to increase its fleet to ten before the upcoming Lunar New
Year Festival.
The Sharklet bent
back wing tip was designed to offer a fuel savings option on Airbus A320
aircraft.
Businesses
urged to protect their trademarks
Vietnamese
enterprises need to take prompt actions to develop and protect their
trademarks in overseas markets, especially when intellectual property rights
are increasingly important in the global trend, experts said at a workshop in
The Vietnam Chamber
of Commerce and Industry (VCCI) reported that while the number of businesses
registering trademarks and innovations in the country is increasing, only
about 1,000 brand names were registered abroad – a relatively modest figure
in comparison with hundreds of thousands of active Vietnamese firms.
According to the
Dean of the Intellectual Property Department of the
As trade name and
intellectual property are playing a bigger role in the global value chain, a
competitive country needs to build and develop highly-competitive trademarks
both domestically and internationally, said VCCI Deputy Chairman Doan Duy
Khuong.
A report of the
National Office of Intellectual Property (NOIP) under the Ministry of Science
and Technology said
RoK tops
Dong Nai’s footwear importers
The
The ROK was
followed by the
He also said
exports to the RoK will continue to increase in the future as the Vietnam-
Korea Free Trade Agreement will take effect in 2015.
During the 10-month
period, the province generated more than 1.7 billion USD from footwear export,
up by 13.3 percent year-on-year.
Currently,
businesses from
At a conference
reviewing the outcomes of the Vietnam Development Partnership Forum 2013
(VDPF 2013) in
She emphasised the
need for more collaboration among the sides and the engagement of people and
social organisations in clarifying targets that should be achievements during
the VDPF 2014.
According to Deputy
Minister of Planning and Investment Nguyen Chi Dung, with the support of
partners, the four groups of actions adopted at VDPF 2013 have been
implemented effectively, reaping positive results. They included poverty
reduction, the private sector’s participation in supplying public services,
vocational training, and environmental management.
VDPF 2013 marked
the first time Vietnamese agencies and their development partners had
performed a new policy dialogue mechanism, discussed and built comprehensive
action programmes, with a focus on addressing prioritised policy groups.
VDPF was firstly
held in 2013, replacing the Consultative Group Meeting of Donors. It reflects
the new position of
VDPF 2014, which is
scheduled to open in December, will focus on reforming economic institutions
and strengthening self-reliance and competitiveness of the Vietnamese
economy.
Garment
sector seeks material suppliers from India
Many garment
businesses are seeking material suppliers from ASEAN countries and
Nghi said it is
feasible for the
Sharing the same
view, Tran Viet, head of the Vinatex market department, said the Indian Consulate
General has introduced a ‘Make in India’ campaign initiated by Prime Minister
Narendra Modi aimed at developing the country into a production workshop in
the world.
Viet adds a large
number of
Pham Ngoc Diep,
Vice General Director of Dong Xuan Knitting Company, says
In addition,
Nghi says in the
next 1 to 2 years economic exchanges between
According to
ASEAN-India Free Trade Agreement, garment is one of goods that the two
countries wow to cut taxes. This is a good opportunity for
Local
handicrafts a hit at
Vietnamese
traditional handicrafts are garnering the special attention of fairgoers at
the 19th International Craft Industry Fair ongoing in
This year’s fair
features more than 300 pavilions displaying a wide range of traditional
handicrafts that range from ceramics, wood products, embroidery and bags, to
foods and beverages from 15 countries around the globe.
Those attending the
Algerian Minister
of Tourism and Craft Industry Yamina Zerhouni says he appreciates the quality
of
Huynh Thi Anh Tuyet
says this is the eighth year she is attending the fair and fairgoers most
favour the Ao Dai (traditional long dress), silk scarf and lacquers.
The Vietnamese
economy continues its steady growth – for the first nine months of 2014, GDP
growth was 5.62%, higher than the inflation rate of 5%, said Professor, Ph.D.
Dmitry Mosyakov from the
Prof. Dmitry, Head
of the Centre for South-East Asia,
Here’s Dmitry
Mosyakov’s full article posted on New Eastern Outlook website on November 5:
The media publishes
a lot of different information about the economic development of
The key index PMI,
which indicates the situation in production over the course of 13 months, is
higher than 50 points. Exports are also showing a positive trend. Over the
nine-month period export volume climbed to US$109.63 billion, 14.2% higher
than the same period in 2013. The trade surplus is US$2.47 billion.
The situation in
the economy today is so favourable for investment that the US Chamber of
Commerce in
It should be noted
that, like any growing Asian economy,
It should be noted
that all these problems, although they create difficulties in the development
of the economy, do not in fact have a critical effect on the overall
acceleration of development. The key indicators of the Vietnamese economy look
very positive, so virtually all the international rating agencies have made
forecasts of GDP growth in
Nhon Trach
2 power plant supplies 15 billion kWh to national grid
The Nhon Trach 2
power plant in the southern
Since early this
year, it has generated 3.9 billion kWh of electricity, fulfilling 98 percent
of its yearly plan.
With the current
capacity, the plant will maintain the provision of 5-6 percent of electricity
to the national grid annually.
The Nhon Trach 2
thermal power plant began commercial operation in late 2011.
As a national key
project in the provincial PetroVietnam Nhon Trach Power Centre, the power
plant has a total capacity of 750 MW and is fueled by natural gas which has
been registered under the United Nations’ Clean Development Mechanism as main
fuel.
With three
turbines, it is designed to churn out an average of 4.2 billion kWh each
year.
It also plays an
important role in supplying electricity to the southern key economic region.
FDI firms
encouraged to invest in agriculture
At a meeting
between the ministry and businesses in the Mekong Delta on November 5 in Can
Tho city, Tran Thanh Hai, deputy head of the ministry’s Import-Export
Department, said there is large number of investments by FDI enterprises in
assembling and services, although farm produce and food are the strength of
He affirmed the
Government and the ministry always support foreign investors to operate in
In the first nine
months this year, exports of FDI enterprises reached 67.8 billion USD,
accounting for 61.7 percent of the country’s total export value. Main export
items were phones, cameras, computers, electronics and spare parts.
Meanwhile, exports
of seafood by FDI firms were 472 million USD, accounting for more than 8 percent
of the country’s total export value, according to statistics from the Vietnam
Customs Office.
The Mekong Delta is
The region also
supplies 70 percent and 60 percent of the country’s respective fruit and
aquatic exports.
Under the master
plan, the local government plans to relocate apparel factories to
neighbouring localities while turning the city into a fashion design hub,
added the Daily.
The city’s apparel
output is estimated to increase by 53 million products by the end of next
year, or equal to the combined average output of 17 garment factories.
After 2020, apparel
factories will be located in industrial zones and other provinces with
sufficient labour supply. Meanwhile, garment companies in the city should be
solely responsible for design and export-import operations.
Cu Chi, Hoc Mon,
Nha Be, Thu Duc districts in the future will only have small-scale apparel
facilities with three to five production lines to provide products for the
city’s tourists while textile-garment firms in the inner-city districts will
focus on designing and introducing new products without expanding their
current manufacturing facilities.
At the same time,
Tan Binh, Dai Quang Minh, and Soai Kinh Lam textile markets among others will
become wholesalers of textile-garment materials.
The total
investment capital for developing the city’s textile-garment industry is
estimated at 33 trillion VND by 2025 with investments in the inner city
accounting for 8.75 trillion VND.
According to
experts, the training of human resources is core to achieving the goal of
turning the city into a fashion design hub. The city will also need at least
3,000 more engineers, technicians and designers by 2025.
2014
Northern Delta Agricultural Fair kicks off
As many 300 local
businesses and two others from Taiwan and the Republic of Korea are
displaying their products at the 2014 Northern Delta Agricultural Fair, which
opened in Thai Binh province on November 5.
Co-organnised by
the Trade Promotion Department under the Ministry of Industry and Trade and
the provincial Department of Industry and Trade, the annual event aims to
help enterprises to seek partners, promote trademarks and expand markets.
If also offers an
opportunity to introduce the socio-economic development achievements of
provinces and cities in the Northern Delta region in general, and Thai Binh
province in particular.
On the sidelines of
the fair, a number of trade promotion and agricultural consultation seminars
will update visitors on advanced technologies and new products in the
agricultural sector.
The event will run
until November 11.
Can Tho
City to solve difficulties for FDI enterprises
The Ministry of
Industry and Trade and the People’s Committee in the Mekong Delta city of
Mr. Do Minh Hien
from the
For instance Mr.
Hien said some substances are prohibited in fruits and vegetables in the
Europe but permitted in
The company has
purchased products from local farmers for exports but they have been
returned. It has also imported some fruit preservatives from
Besides, some other
enterprises expressed concern over weak traffic and seaport infrastructure
systems in the Delta, which has made transportation costly.
Half done
projects slow down equitization at real estate companies
The company was
speaking a meeting with the Economics and Budget Commission of the Ho Chi
Minh City People’s Council on its restructuring and equitization in the phase
of 2013-1025.
Resco is expected
to complete equitization of three member companies by the end of this year
and two others by the end of next year.
However the process
has been slowed down due to half done projects and difficulties in the real
estate market. To deal with this, the company proposed to transfer these
projects into the parent company to speed up value determination and
equitization.
Agricultural
production should base on market demand
Agricultural
production should accord with market demand on quantity, quality and types to
protect farmers from the repeated refrain of ‘bumper crop, low price', said
experts at the Mekong Delta Economic Cooperation Forum opened in Soc Trang
Province yesterday.
Farmers have freely
grown any kind of plant they like and been vague about consumption sources.
Purchase has almost been conducted by traders who usually manage to pay as
low as possible, said Professor Vo Tong Xuan.
That is one of
reasons for the ‘bumper crop, low price' condition which has kept repeating
in the Mekong Detla, he said.
2014 is the third
consecutive year that sugarcane prices reduce in the delta. The prices have
dropped to only VND750 a kilogram for the last few days. This is because of
high inventory level and smuggled sugar, forcing processing plants to lower
sugarcane prices to prevent losses.
The problem in
agriculture development is market, said Dr. Vo Hung Dung, Chairman of the
Vietnam Chamber of Commerce and Industry in Can Tho City.
Market development
involves meeting demand of the current market and increasing potential demand
for farm production. An increase in demand will cause an increase in
agricultural market developmernt, he said.
Agricultural
restructuring must change from quantity into value, especially added value,
said Minister of Agriculture and Rural Development Cao Duc Phat at the
conference.
For a long time,
agricultural production has aimed at exports and paid little heed in
developing local market, where has been flooded with import products. This is
partly due to policies inclining to encourage exports, he pointed out that
how the problem is how to increase sustainable income for farmers, not the
rank in volume of Vietnamese farm production in the world market.
Agricultural
restructuring must begin from developing market, creating conditions for
farmers and businesses to apply new varieties as well as technologies in
production and improve their product value, said Minister Phat.
A roundtable on
aquaculture held in Can Tho city yesterday, provided a chance to brainstorm
ways to sustainably develop the Mekong Delta region's sector.
The Ministry of
Agriculture and Rural Development (MARD), the Steering Committee for the
Southwestern Region and the German Agency for International Co-operation
(GIZ) jointly organised the event as part of the Mekong Delta Economic
Cooperation Forum also held this week in
MARD Deputy Minister,
Tran Thanh
To address these
difficulties,
For example, Nguyen
Van Trong, deputy head of the Research Institute for Aquaculture, suggested
that authorities run public awareness campaigns on the impact of climate
change in order to boost the sector's long-term resilience.
Hua Tran Hoang, an
aquaculture farmer in An Bien District in
He suggested
farmers be trained in new farming techniques and increase their access to
disease-resistant breeds to increase productivity.
German enterprises keen to invest in Binh Duong
German businesses
wish to do business in the southern
Walde highly valued
the country’s investment climate and policies on investment attraction during
a meeting with Tran Thanh Liem, Vice Chairman of the Binh Duong People’s
Committee, on November 6.
He expressed his
hope that the local authorities will further facilitate German businesses to
operate in the province.
Liem briefed the
guest on the province’s incentives and investment environment as well as the
operations of businesses, including those from
He said he hopes
that the German Chamber will continue to bring more investors to the locality
in the time to come.
Binh Duong has so
far this year attracted 1.47 billion USD in foreign directed investment
(FDI), 47.7 percent higher than its yearly target.
The province is
home to 2,344 foreign-invested projects with a total capital of 20,204
billion USD.
It is the fourth
localities nationwide after
Ceramic
makers admit need for improvements
The productivity of
Pham Van Bach, vice
chairman of the Vietnam Building Ceramic Association, said tile output last
year was 310 million square metres against a capacity of 450 million square
metres.
Production of
sanitaryware items was even lower - at 10.8 million items, a mere 60 per cent
of capacity - he told a seminar on ceramic manufacturing technology organised
by the Italian Trade Commission in
Export of ceramic
products last year fetched US$300 million of which sanitaryware represented
20 per cent, while imports, including through informal border trade, totalled
$70 million, he said.
Production of
ceramic products including tiles and sanitaryware rose by 5 per cent
year-on-year in the first half of this year, he said, without providing
figures.
Not only
productivity but also the quality of ceramic products is low, he admitted.
She expected the
seminar to provide an opportunity to develop co-operation in and exchange
information about technologies related to processing of raw materials,
decoration, and distribution of finished products.
The outstanding
feature of Italian ceramic technology is its environmentally-friendly nature
that helps save fuel and raw materials while reducing harmful emissions.
Fitch lifts Agribank, Vietinbank ratings on improved stability
Fitch Ratings has
upgraded the Long-Term Issuer Default Ratings (IDRs) and Support Rating Floors
(SRFs) of Viet Nam Bank for Agriculture and Rural Development (Agribank), and
Viet Nam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) from
‘B' to ‘B+'.
This follows an
improvement in
The Long-Term IDRs
of Agribank and Vietinbank are driven by State support. Their Support Ratings
(SRs) and SRFs reflect Fitch's expectation of likely extraordinary state
support, as both banks are majority-owned by the government and among the
most systemically important banks with quasi-policy functions in the domestic
economy.
Agribank and
Vietinbank are the largest and second-largest banks by asset size in
Also according to
Fitch, the banks' ratings were knocked down one notch from the sovereign
rating to take into consideration the Government's finances, which may limit
the timeliness of its support for the banks.
The Stable Outlook
of Agribank and Vietinbank reflect the Stable Outlook on
Taiwanese
firms seek local partners
Taiwanese companies
want to further grow their business and investment in
Speaking to Viet
Nam News on the sidelines of a meeting between 48 Taiwanese companies and
their Vietnamese counterparts in
This is a major
reason for holding business meetings every year between Taiwanese and
Vietnamese companies, with the hope being that co-operation opportunities
would spring up as a result.
The visiting
executives this time are mostly from the auto parts, health care, and
electronics industries.
Another 39
Taiwanese companies are taking part in the International Plastic and Rubber
Industry Exhibition being held in
"
"Plastics
represent one of the top Taiwanese exports to
Speaking about the
exhibition, Tang said "since
To increase
Furthermore,
Vietnamese companies should invest in cuisine and restaurants since Taiwanese
like cultural diversity, it said.
VN timber
exports climb 12.8 per cent
In October,
Vietnamese timber exports earned US$528 million, bringing total timber
exports in the first 10 months to $4.98 billion, a 12.8-per cent year-on-year
increase.
A report from the
Ministry of Agriculture and Rural Development said timber exports to three
leading markets in the first 10 months of the year continued to increase.
Export turnover
from the
The three markets
are the leading importers of Vietnamese timber this year, providing 66.35 per
cent of the value of the country's total timber exports.
Chairman of the
Binh Duong Wood Processing Association, Huynh Quang Thanh, said the
rehabilitation of the world economy had opened new prospects for timber
processing enterprises.
In recent years,
enterprises had produced higher quality products that met the requirements of
choosy markets of Europe, the
The markets have
showed interest in Vietnamese wood products because of the diverse designs
they produced and sophisticated manufacturing.
Meanwhile, the
nation's imports in October reached $177 million, bringing total imports in
the first 10 months of the year to $1.9 billion, a 55.2-per cent year-on-year
increase.
Timber imports from
It is expected that
Vietnamese wood exports will reach $6.3 billion to $6.5 billion by the end of
this year.
Vietnamese
Talent Awards finalists announced in IT sector
Organisers of the
Nhan Tai Dat Viet (Vietnamese Talent Awards) announced a total of 22
Information and Technology (IT) products out of 240 products that were
selected for the final round yesterday in Ha Noi.
Nguyen Long,
General Secretary of the Viet Nam Informatics Association, said the quality
of products was higher than in previous years, making the selection process
difficult.
Contestants ranged
from students to leading scientists, said Pham Duc Long, deputy director of
VNPT Group. Submissions came from Vietnamese residing in
Awards are based on
both scientific and practical value. Winners take home VND100 million
(US$4,760) while second place nets VND50 million ($2,380) and third place gets
VND30 million ($1,430). The award ceremony, to be held in Ha Noi on November
20, will be broadcast live on VTV.
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Chủ Nhật, 9 tháng 11, 2014
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