|
BUSINESS
IN BRIEF 6/11
VASEP
predicts seafood exports to climb this year
The Viet Nam
Seafood Exporters and Producers (VASEP) expects Viet Nam to export seafood
worth about US$7.7 billion in 2014, due to high demand by the end of the
year.
Nguyen Hoai
Based on the
average monthly export value, the nation expects to gain around $1.9 billion
in the last quarter of this year, he pointed out.
Last year, the
total export value of seafood reached $6.7 billion for the whole year, higher
than the target of $6.5 billion. VASEP hopes for success again this year, he
said, adding that it will be primarily due to the high export value of
shrimp.
So far, the total
shrimp export value has accounted for 50 per cent of the total export value
of seafood products. In the first nine months, shrimp exports to key markets
such as the
Tra fish came
second, accounting for 22 per cent of the total seafood export value, even
though it faced several challenges in the export markets,
According to some
experts, tra fish exporters will get a chance to promote their products at
the end of the year, because they will get more orders from export markets
for Christmas and New Year holidays.
VASEP expects
shrimp and tra fish export values to reach $3.5 billion and 1.8 billion
respectively, for the whole year.
The Agriculture and
Rural Development Ministry reported that in the first 10 months of this year,
the total export value of seafood gained a year-on-year increase of 19.9 per
cent to touch $6.48 billion.
The
Vietnam
participates in textile fair in Venezuela
Vietnamese artisans
are attending the Artextil Fair Venzuela 2014 held in
Besides presenting
textile products, the Vietnamese delegation also shared experiences in the
field of textile manufacturing with other participants.
The Venezuelan side
highly appreciates Vietnamese handicraft and textile techniques. They also
showed interest in the Asian country’s experiences in the preservation and
promotion of craft villages.
Venezuelan Culture
Minister Reinaldo Iturriza said at the fair opening that the presence of the
Vietnamese delegation at the fair will help strengthen the friendly relations
between the two countries, especially in culture.
Vietnamese,
Slovakian businesses strive to boost partnership
Vietnamese and
Slovakian enterprises explored partnership opportunities during a business
forum in
According to VCCI
Vice President Doan Duy Khuong, there is room for
Currently, VCCI is
promoting trade and investment between the two countries, with a market
research trip to
On his part,
VCCI data shows
that bilateral trade between
At the end of 2013,
BIDV
MetLife opens in Ha Noi
A MetLife Life
Insurance office opened yesterday in Ha Noi.
This follows the
issue of a business licence by the Ministry of Finance on July 21.
The joint venture
has charter capital of VND1 trillion (US$48 million), of which 60 per cent
comes from MetLife and the rest from the Bank for Investment and Development
of Viet Nam, and the Bank for Investment and Development of Viet Nam
Insurance (BIC).
The partnership
involves an agreement whereby BIDV MetLife's products will be made available
through BIDV's national bank network.
Quality
goods on show in Mekong Delta
An exhibition to
promote high quality Vietnamese products opened today in
Art performances
and game shows are also being held, as well as a cooking contest for local
teachers and students and amusement programmes for children.
A seminar to be
held on the sidelines will discuss measures to strengthen the competitiveness
of domestic firms and boost consumption of their products.
Organised by the
Business Association of High-Quality Vietnamese Goods, the fair will run
until November 9 in My Phu Ward.
Seafood
exports bring US$6.48 billion
Seafood export
value reached US$6.48 billion since early this year, a year on year increase
of 19.9 percent, said the Ministry of Agriculture and Rural Development on
November 2.
The time from now
until the end of the year is advantageous for businesses to boost seafood
exports because consumption demand has highly increased in the world.
At present, export
price of tra fish fillets to the Asian market has inched up US$2.5-2.6 a
kilogram. Therefore, tra fish price has also increased from VND23,500-24,000
in the Mekong Delta, a profitable rate for farmers.
Tiger prawn prices
have gone up in Ca Mau, Bac Lieu and
Provincial
departments of aquiculture and rural development in the delta said that tra
fish and shrimp prices have rebounded back after a long fall and farmers have
resumed tra fish breeding.
Binh Dinh
kicks off 2014
The 2nd economic
cooperation seminar between
Attending the
seminar was nearly 200 delegates from ministries, agencies, enterprises and
leaders of two countries.
According to the
Ministry of Planning and Investment, Lao authorities have licensed to 413
Vietnamese projects with the total investment capital of US$ five billion.
Currently,
After the first
seminar, 40 Vietnamese projects were granted the license totaling the
investment capital of US$ 1, 6 billion.
Ministry
suggests adding $22bn Thai oil complex to
The Ministry of
Industry and Trade has called on the Prime Minister to add a Thai company's
megaproject to build an oil complex in a south-central province to the
planned development of
The Nhon Hoi oil
complex, to be located in the eponymous industrial park in
Thai energy firm
PTT Pcl is the developer of the complex, consisting of an oil refinery, an
olefin manufacturing plant, and an ethylene steam cracking component.
The proposed
megaproject is worth US$22 billion and will have a total capacity of up to 20
million tons of products per year during its first phase, the industry and
trade ministry said in its document.
The planned 20
million ton per year capacity of the Nhon Hoi complex is three times that of
Dung Quat, the Southeast Asian country’s sole operating refinery.
PTT will only hold
a stake of 40 to 45 percent in the project, while Saudi Arabian national
petroleum and natural gas company Saudi Aramco will also own a similar share
in the complex, according to the ministry.
The remaining 15 to
20 percent stake must be held by a Vietnamese entity, which the Binh Dinh
administration suggested in mid-October to be
The Ministry of
Industry and Trade said
The ministry
rejected claims that the Nhon Hoi oil complex would affect the operations of
other government-backed refineries in
Dung Quat refinery,
located in the Dung Quat Economic Zone in the central
The industry
ministry said the proposed Nhon Hoi plant, as well as other projects besides
Dung Quat and Nghi Son, would not receive as much preferential treatment as
their predecessors.
The presence of
Nhon Hoi will act as motivation for Dung Quat and Nghi Son to increase their
competitiveness and reduce production costs, it added.
The ministry said
not all of the requests for incentives to develop the project by PTT will be
accepted.
PTT has asked to
enjoy zero taxes on crude oil imports and transfer of profits abroad, and be
allowed to distribute the complex’s products domestically, to which the
ministry agrees.
But the request to
have its corporate income tax exempted for the first 13 years of the project
has been turned down, according to the ministry.
“This is against
all current laws and regulations,” the ministry said, adding it agrees with
the proposal by the Binh Dinh administration to levy a 10 percent corporate
income tax on the complex for 17 out of 30 years from its opening.
“The project will enjoy
zero tax for the first four years, 5 percent in the next nine years, and 10
percent in the remaining 17 years,” the ministry said.
PTT has said in the
project’s feasibility report that if everything proceeds as planned, the oil
complex could break ground in 2016 and begin production in 2021.
Japanese
firm buys $9 million stake in Vinatex
Itochu Corporation,
a multi-industry Japanese firm, has bought a 5 per cent stake of
Vinatex’s IPO
consultant shared with Vnexpress that Itochu has long planned to make an
investment into a Vietnamese textile company. Initially they planned to
become a strategic partner of Vinatex, but finally decided to purchase a
stake via the share auction.
The deal has been
finalised, but it is unlikely to be reflected in Vinatex’s business results
for this year. The IPO consultant said that “With such a large-scale company,
it will take time to see the outcome.”
Vinatex held its
IPO on September 22 at the Ho Chi Minh Stock Exchange. 90 per cent of the
company’s shares on offer were sold, of which foreign investors purchased
nearly half.
Itochu is the first
non-financial Japanese company to invest in a Vietnamese state-owned
enterprise. Itochu is the largest company operating in
Hanoi
shakes hands with Vietnam-Korea Business Centre
The Hanoi
Investment Promotion Centre last week signed a co-operation agreement with
the
Under this
agreement, the sides will exchange information, find out opportunities,
support and consult administrative procedures and legal investment procedures
for investors.
Those parties will
also organise investment promotion activities in
According to Tran
Duc Hoat, deputy director of the Hanoi Municipal Authority for Planning and
Investment, the agreement means
Park Jung Hwan,
co-chairman of the
“Leading companies
from
The Samsung
complexes in the
Park Jae Hyung,
VKBC’s general director agreed that it was high time for South Korean
companies to come to the Vietnamese market.
“
VKBC is connecting
with Korean investors and bringing them to
Mac Quoc Anh, vice
chairman cum general secretary of the Hanoi Small and Medium-Sized
Enterprises Association said that co-ordinating with the Hanoi Investment
Promotion Centre and VKBC would be good opportunity for the association’s
members to have more information and access to the business contact with
foreign companies.
“After this signing
ceremony we will encourage our members to be more active in the Hanoi
Investment Promotion Centre’s promotion activities in order to achieve the
targets which we have mapped out,” said Anh.
By the end of
September,
Top 50 business
leaders honoured
Nhip cau dau tu (
Leaders of
small-and-medium enterprises and Vietnamese chief executive officers of
foreign companies were eligible for this year's awards, unlike last year,
when only leaders of large companies qualified.
The awards were
divided into categories, including the top 10 leaders with excellent business
results, the top 10 leaders with excellent human resources, the 10 most
creative leaders, the top 10 excellent female leaders and the top 10 young
and prosperous leaders.
German
retailer gets farmers to raise
Over 20
aquaculturists in the Cuu Long (
Organised by the
Department of Fisheries and German retailer Metro Cash & Carry Viet Nam,
the programme has helped farmers raise the quality of their produce from the
current Metro Requirement to VietGap standards.
To begin with the
programme is assisting farmers raising frog, fish, and eel in Can Tho city
and
A Metro
spokesperson said demand from canteens and restaurants for fish, eel, frog,
and shrimp has increased and VietGap is their first priority when choosing a
supplier.
The training
programme, which ends in December, also hope to help farmers find more
partners.
A conference on
Those in attendance
included representatives of
At the event,
Deputy Minister of Culture, Sports and Tourism Ho Anh Tuan introduced the
country’s marketing strategy for the period from 2015 to 2017, saying that
Le Dung, head of
the Vietnam Airlines representative office in the EU said co-ordination
between Vietnam Airlines, the embassies of
Huong Pidduck,
Director of Vietnam2uk Co. Ltd, suggested that the tourism industry should
come up with a simple marketing slogan to attract foreign tourists and
organize more promotional events in
Within the conference,
Quang Ninh provincial People’s Committee and the Vietnam Embassy in the
Int’l
Jewellery Fair to sparkle in HCM City
The 23rd edition of
the Vietnam International Jewellery Fair (VIJF) to take place from November 5
to 9, is readying to kick off at the Phu Tho Exhibition Centre in
At the event, more
than 150 dealers will exhibit the finest and most fashionable jewellery from
all over the world including household brand names such as SJC, DOJI, PNJ,
and SBJ.
Within the event
expected to attract as many as 50,000 visitors, many interesting and exciting
activities are planned, including buyer and seller meetings, jewellery shows
and promotional programmes.
Vietnamese
exporters expand
At a press
conference held in the capital city, the ministry said in October alone,
Meanwhile, garments
and textiles, shoes, computers and accessories and wood products saw growth
rates of more than 10% over the same period last year.
In the first eight
months of the year,
The retail selling
price of petroleum will likely be reduced in the next few days, Deputy
Industry and Trade Minister Do Thang Hai announced at the press conference.
The domestic petrol
price was previously reduced eight times this year by a cumulative amount of
VND3,300 (15US cents) per litre. The latest decrease which took place on
October 23 brought down the price to VND22,340 (US$1.1) per litre.
Fuel traders are
allowed to unilaterally raise prices if the rate of increase is below 3% of
current prices, but they must report the increase to the ministries of
Finance and Industry and Trade.
If the increase is
between three to 7%, petrol wholesalers are required to submit documents on
price fluctuations of elements which make up petrol prices, as well as
anticipated increases, to the two ministries for review and approval.
Fuel price
increases exceeding 7%, or increases with a significant impact on national
socio-economic development and the people's living standards, must be
reported to the Prime Minister for review and approval.
The Ministry of
Industry and Trade (MoIT) is responsible for providing updates on world fuel
prices, including base and retail prices, and the use of the fuel price
valorisation fund on its website.
"Based on the
world petrol market, the two ministries will reduce the retail price as soon
as possible to ensure benefits to people and businesses, " the deputy
minister said.
Petroleum traders
said they made profits of VND1,087 per liter from the downward trend in the
world market.
The country so far
has 19 petrol traders, and the number will be increased to supplement petrol
supply and increase competitiveness.
Also, Duong Quang
Thanh, deputy general director of the Electricity of Vietnam (EVN), said his
company would ensure sufficient power supply for the entire country during
the dry season as well as the entire year of 2015.
Thanh revealed that
EVN has put the second turbine of Bung River Hydropower Plant into operation,
adding 1,170MW to the national power grid, and has completed 33 power line
constructions to the South to ensure power supply for the region.
EVN has asked the
MoIT to assign other power suppliers to mobilise electricity, he added.
MoIT figures showed
that the country's total power production in the first 10 months of the year
increased by 12% to 115.67 billion kWh.
During that period,
For the entire
2014, the country aims to import from
Industrial
production goes up in 10 months
The October IIP
growth rate was up 4.6% and 7.9% on a monthly and yearly basis, respectively.
The ministry’s
report also showed that during the ten-month period, the mining,
processing-engineering and water and sewage treatment sectors expanded by
0.7%, 8.4% and 6.4%.
Meanwhile, higher
growth was also seen in electricity production and distribution, fisheries
processing and preservation, textile and footwear sectors, ranging from 11.5%
to 20.8%.
Deputy General
Director of the Vietnam National Oil and Gas Group (PVN), Nguyen Hung Dung,
said the sector generated VND626 trillion (US$29 billion), meeting 90 percent
of its annual target so far.
Coal productivity
reached 28.6 million tonnes, accounting for 84% of the annual target, General
Director of the Vietnam National Coal and Mineral Industries Group Dang Thanh
Hai reported.
He added that coal
consumption hit 29.2 million tonnes, up by 8% in the reviewed period, with
domestic consumption accounting for 24.3 million tonnes, up by 29%.
The chemical
fertiliser sector also saw a slight increase in production and a decline in
imports, both in quantity and value.
Deputy Minister
Nguyen Cam Tu urged the sectors to balance supply and demand, and increase
exports while also developing the domestic market.
Korean city
showcases export products in Vietnam
About 17 businesses
from Bucheon city, the
The 126
square-metre exhibition features a wide range of items including lighting
systems, medical endoscope cameras, home appliances, printers, electrical
equipment, oil refineries, cosmetics, and Korean ginsengs.
General Director of
Vinexad company Nguyen Khac Luan said the event aims to promote the city’s
business in
Since Vietnam and
the RoK set up diplomatic ties in 1992 and upgraded it to a strategic
cooperative partnership five years ago, their relations have developed in a strong,
comprehensive and intensive manner, he added.
The RoK is now the
second biggest investor, the third largest trade partner, and the second
largest donor of official development assistance (ODA) to
Trade turnover
between the two countries hit US$25.7 billion in 2013, and is expected to
reach US$70 billion in 2020, he noted.
The exhibition will
last until November 5.
Business climate for Vietnam’s manufacturing sector improved: HSBC
Business conditions
in the Vietnamese manufacturing sector improved slightly in October as output
and new orders increased and firms took on extra staff at the fastest rate
since January, according to the Purchasing Managers’ Index (PMI) report by
the
The report,
released on November 3, pointed out that the rate of inflation slowed for the
third month in a row, and enterprises were able to pass on cost reductions to
their clients by lowering output prices.
Meanwhile,
manufacturers in
According to
experts involved in the report, the number of orders was boosted by export
sales that increased rapidly over the last six months.
The report
attributes the increase in productivity for the 13 th month running to the
increase in orders in October, even though the growth rate in production was
minimal.
Increased output requirements
were the main driver behind a consecutive monthly rise in employment, the
report said, adding that the job creation rate was the fastest so far this
year.
This added capacity
enabled manufacturers to work through outstanding business, with backlogs of
work decreasing for the sixth month in a row, the report said.
Trinh Nguyen, Asia
Economist at HSBC, said
The October PMI
shows that the manufacturing sector continues to expand thanks to higher
export orders, highlighting the country’s competitiveness in labour-intensive
manufacturing, he said.
The employment
index grew sharply, a positive sign of manufacturers’ outlook for future
demand, he assured.
Untapped
potential for recycling industry development
The survey on the
demand for and capacity of environmental services in 20 provinces and cities
indicated that the sector required investments of 2.34 trillion VND per year
(111.4 million USD) to effectively treat solid waste.
According to the
World Bank, there is high potential for recycling industrial solid waste,
with 80 percent of waste in some industries being recyclable. As much as 54
billion VND (2.57 million USD) could be saved per year if each production
facility in six industries recycled 50 percent of its waste.
There are also
promising prospects for other fields, such as pollution prevention and
control, technical support services, technological advice, and
environmentally friendly equipment and material production, the bank said.
However, the
limited capacity and experience of environmental service providers in
At present, the
majority of industrial-scale recycling is conducted by small- and
medium-sized facilities with out-dated technologies and equipment.
Scientific research
on waste recycling in
In order to
stimulate the industry, the country needs to develop suitable mechanisms and
policies that increase the involvement of businesses and individuals in
environmental waste management, experts said.
It is necessary to
create an equal business environment for State-owned and private enterprises,
and domestic and foreign enterprises, they added.
Workshop
focusses on application of technology in Vietnamese firms
The Central
Institute for Economic Management (CIEM) and the
The survey is part
of the 2013-2014 “Research on the business sector” project funded by the
Danish International Development Agency.
Addressing the
workshop, CIEM deputy director Nguyen Thi Tue Anh highlighted the importance
of including measures to increase businesses’ technological capabilities in
long-term operational strategies.
On his part, Danish
Deputy Ambassador to Vietnam Christian Brix Moller stated that the
application of new technologies would help improve the quality of export
products, thus enhancing businesses’ global competitiveness.
Participants
pointed out the need to enhance cooperation with international partners on
technology transfer, such as the
In the meantime,
Japanese companies are transferring tuna catching and semi-processing
technology to Vietnamese fishermen.
Seminar
promotes Vietnam as tourism destination in UK
A seminar to
promote
The event attracted
the participation of representatives of the national flag carrier Vietnam Airlines
in the European Union (EU), travel agencies in the
Representatives
from the Ministry introduced their plan for 2015-2017 to promote
Embassy
representatives said it was essential to make the most of the WTM to promote
Overseas Vietnamese
studying in the
Deputy Minister of
Culture, Sports and Tourism Ho Anh Tuan highlighted the role of cooperation
between the Ministry, Vietnamese diplomatic agencies, Vietnam Airlines and
travel agencies in boosting the sector.
He said the
Ministry would soon establish a coordination board to implement the plan with
a view to realising the country’s objective of welcoming 9 million
international tourists by 2020.
As part of the
event, a memorandum of understanding was signed between the People’s
Committee of the
648 million
USD mobilised through government bonds in October
The Hanoi Stock
Exchange (HNX) sold a total of 13.8 trillion VND (648.9 million USD) worth of
government bonds during October an 8 percent increase compared to September.
Of the amount, some
12.7 trillion VND (597.2 million USD) was raised for the State Treasury and
1.1 trillion VND (51.7 million USD) for the central city of
The annual interest
rates ranged from 4.8 – 5.6 percent for 5-year bonds, from 6.19 – 6.34
percent for 10-year bonds, and from 6.96 – 7.05 percent for 15-year bonds.
The rates declined by between 0.8 to 1 percent in all terms compared to the
figures recorded last month.
In the secondary
market, the number of government bonds in outright transactions amounted to
551 million units, which were equivalent to 61.2 trillion VND (2.88 billion
USD). Meanwhile, 249 million units worth 26.1 trillion VND (1.23 billion USD)
were traded in repurchase transactions.
On November 1, the
government issued a resolution exempting corporate and personal income taxes
on incomes generated by Vietnamese government bonds issued on foreign markets
in 2014.
The bad debt ratio
in the Mekong Delta region has been kept at around three percent a year
during the last three year, according to the Credit Department of the State
Bank (SBV).
The department’s
Deputy Chief Vo Minh Tuan said the Mekong Delta region also saw a credit
growth higher than the average level of the whole system.
As of September 30
this year, total outstanding loans of credit institutions in the region stood
at 331.5 trillion VND (15.7 billion USD), up 8.49 percent from the end of
last year and accounting for 9 percent of the national banking system’s
lending. Statistics also showed nearly 70 percent of the loans were
short-term.
In the same period,
capital mobilization in the region amounted to 268 trillion VND (12.7 billion
USD), a 13.88 percent increase compared to the level at the end of 2013.
The Credit
Department said locally-mobilised capital could meet 81.82 percent of the
total demand for the region’s social economic development, as against 66.4
percent in 2011.
Investment in
agriculture and rural areas has increased significantly in recent years with
outstanding loans totalling 160 trillion VND (7.6 billion USD) by September
30. The figure showed a 7.5 percent rise compared to the end of 2013,
accounting for 22 percent of total loans in this field nationwide.
Supply-demand
connectivity programme bears fruit
Enterprises in
Le Ngoc Dao, Deputy
Director of the HCM City Department of Industry and Trade, unveiled the
impressive numbers at a recent meeting with industry and trade leaders.
The third
conference of the programme took place on October 31 with the participation
of more than 1,100 enterprises from 38 cities and provinces nationwide.
To effectively
implement the trade cooperation programme between
The meeting that
year attracted 198 enterprises from 14 provinces and cities and 43 deals were
struck. As a result, many special products like pia cake of Tan Hue Vien in
Soc Trang province, gourd-shaped pomelo, gold bullion-shaped watermelon, Cao
Lanh mango in Dong Thap province entered the distribution systems of
Co.opmart, Citimart, Big C and Lotte Mart, among others in the city.
One year later, the
programme was expanded and the number of participating businesses rose to
347. Not only enterprises of 20 southern provinces but also those of Bac
Giang,
The programme enabled
enterprises from other provinces to find outlets for their products in
In addition,
enterprises in
Talking about the
fruit of the supply-demand connectivity programme, Ta Minh Son, Director of
Tu Son Supermarket in An Giang province, said his supermarket has benefited
much from the programme.
Son added that of
100,000 products at the supermarket, 70 percent are supplied by partners in
With good results
in previous years, the scale of this year’s programme is bigger with
enterprises coming from 38 localities nationwide, including
Thua Thien-Hue adopts 1.3 billion USD plan on industry development
The central
The province aims
to source the investment mainly from foreign investment and joint-venture
capital (three quarters of the amount). Around 23 percent of the capital will
be raised from local enterprises and bank loans and only 2 percent will come
from the State budget.
The Director of the
provincial Department of Industry and Trade, Vo Phi Hung, said Thua Thien-Hue
is targeting an annual growth rate of 14 – 14.5 percent for its key
industries, including agro-fishery-forestry product processing, food and drinks,
electrics and electronics, construction materials and handicrafts and small
industries.
At the same time,
the province will strive to become a regional and national hub for the
garment- textile and textile’s support industries, which currently make up
42.78 percent of its industrial output and 78 percent of total export value,
he added.
The new industrial
development plan has added weaving and dyeing plants with the aim of
establishing a complete production chain in the industry from fibre making to
weaving and dyeing, thus enhancing manufacturing efficiency and cutting costs
for the textile-garment sector.
Besides, paper and
paper pulp plants will be built to reduce the export of raw materials like
wood and foster forest plantations.
Dong Nai
enjoys 300 mln USD trade surplus in 10 months
The southern
The province earned
10.3 billion USD from exports in the period, while spending over 10 billion
USD on imports.
Director of the
department Le Van Danh said the locality mainly shipped garment, footwear,
fibre, chemicals, handicrafts, coffee, pepper, cashew nuts and woodwork to
the
Meanwhile, it
bought garment and footwear materials, machines and equipment from Asian,
African and American nations.
Danh also said that
the trade surplus will increase in the future thanks to investment in support
industries which helps ease dependence on imports.
Dong Nai aims for 1
billion USD in trade surplus in 2015, with its total export of 14.4 billion
USD, up 14 percent, and import of 13.2 billion USD, a 9 percent rise.
The nation's
exports earned 123.75 billion USD, a 13.4-percent year-on-year increase, and
its imports reached more than 121.2 billion USD, up 11.2 percent.-
EVN vows
sufficient power supply in dry season
Deputy General
Director of the Electricity of Vietnam (EVN) Duong Quang Thanh said his
company would ensure sufficient power supply for the entire country during
the dry season as well as the entire year of 2015.
Thanh revealed that
EVN has put the second turbine of Bung River Hydropower Plant into operation,
adding 1,170MW to the national power grid, and has completed 33 power line
constructions to the South to ensure power supply for the region.
EVN has asked the
MoIT to assign other power suppliers to mobilise electricity, he added.
MoIT figures showed
that the country's total power production in the first 10 months of the year
increased by 12 percent to 115.67 billion kWh.
During that period,
For the entire
2014, the country aims to import from
Minister
pushes
In the most recent
report to the government, the minister of transport explained the need for a
new airport for
According to the
minister, Tan Son Nhat is a joint civilian and military airport and area for
civilian flights only covers a total of 590ha. In addition, he said, the
distance between runways does not meet ICAO's requirements for the operation
of two aircraft at the same time.
The airport was
designed to have a maximum capacity of 25 million passengers per year, but
statistics show that demand is growing. In the first nine months of this year
alone, the number of passengers increased by 11%, compared to the same period
last year, and the airport may reach its full capacity by 2016. The ministry
predicts that by 2050, Tan Son Nhat would have to serve 40.4 million
passengers.
If the expansion
proposal were to be realised, government would have to clear ground,
compensating 140,000 households in the process. The expansion would cost an
USD9.1 billion, much higher than the amount of the first phase of
Tan Son Nhat is
also located somewhat near the city centre, and is surrounded by residential
districts.
Some other experts
have suggested that a nearby military airport, Bien Hoa, could be expanded to
serve
The minister also
seemed to rule out the option of other regional airports taking on the
overload, such as Can Tho, Lien Khuong and Cam Ranh. He said that each
airport should serve its particular market.
The report
underlined the urgency of construction on
A proposal from the
Ministry of Finance to attract large FDI projects could result in a loss of
VND2 trillion to the state budget.
According to the
recent announcement from the Ministry of Science and
High-tech companies
are commonly offered a preferential corporate tax rate of 10% for 15 years,
tax exemption for four years and a 50% reduction of taxes for for the
following nine years.
Large-scale
companies, with registered capital of over VND6 trillion, can benefit from a
10% corporate tax policies for 30 years.
However, studies by
the Ministry of Finance showed that these regulations may not be working, as
rapidly-changing technology outpaces the tax code, which recognises companies
using outdated technology as high-tech.
In order to be
recognised as high-tech, a company's labour force must also consist of at
least 5% university graduates, along with various revenue requirements, which
disqualify many firms.
The Ministry of
Finance has stated that these requirements are too strict and unfeasible for
enterprises in
Enterprises that
use pioneering technologies, have an annual revenue of over VND20 trillion or
employ more than 6,000 workers would benefit from a corporate tax rate of 10%
for 30 years instead of 15, the ministry proposed.
According to the
latest estimates,
It is also
estimated that, if the Ministry of Finance’s proposal is approved, it would
mean that the state budget would lose around VND18 trillion in tax revenues.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Thứ Tư, 5 tháng 11, 2014
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét