|
BUSINESS
IN BRIEF 9/11
Forbes
Forbes
According to
Forbes, Vinamilk has a proven track record and currently has a 50% market
share in the liquid milk market with revenues exceeding VND31,000 billion. It
has generated thousands of jobs and has benefited shareholders, investors,
and the national economy.
Recently, the
company implemented two plants in Binh Duong with a total investment capital
of over VND4,000 billion. It also increased its presence abroad by investing
in two factories in the
Currently, the
company’s products are available in 31 nations around the globe.
To date, the
company has five dairy farms nationwide with a total investment of VND1,600
billion, with plans to put an additional four dairy farms into operation in
the time ahead.
In the period from
2014 to 2016, Vinamilk intends to import high quality cow breeds from
About 1,000
Vietnamese enterprises
have about 1,000 brand names registered for protection on foreign markets,
the Vietnam Chamber of Commerce and Industry (VCCI) told a seminar in
The event focused
on brand name building and intellectual property protection in international
trade.
Participants
suggested local companies pay due attention to registering their brand names
overseas, especially when
Vietnamese
enterprises should take advantage of the right of priority and the principle
of independence of patents in accordance with the Paris Convention for the
Protection of Industrial Property, they said.
Those local
enterprises, who have already registered for brand name protection at the
National Office of Intellectual Property of Vietnam (NOIP), can use the
Protocol Relating to the Madrid Agreement Concerning the International
Registration of Marks (Madrid Protocol) to protect their rights and
trademarks.
VCCI Vice Chairman
Doan Duy Khuong emphasized that in the globalization process, intellectual
property right has an increasingly important role. Therefore, local firms
should have specific strategies to access overseas markets.
It is also
essential to have a strategy on mobilizing social resources for infrastructure
development in line with international practice, as well as investing in
human resource development, he added.
Chinese
investors eye VN factories
Major Chinese
investors have shown growing interest in
The report,
Chinese investors
prefer developed and mature markets in Asia, North America and
Data indicates that
Chinese outbound investment in commercial property reached a total of about
US$33.7 billion from 2008 to June 2014, growing more than 200-fold during
that time.
Recent huge and
highly publicised real estate deals around the world highlight the growing
presence of Chinese investors in overseas property markets.
Timothy Horton,
general manager of Cushman & Wakefield Vietnam, said the Chinese were
resuming interest in
In other asset
classes, large-scale developers who have experience in residential projects
still see Vietnam and its coastline as relatively untouched and a relatively
more affordable option for them in comparison to China and other parts of the
region.
"As investment
in infrastructure improves throughout
"Chinese investors
face an array of challenges in going global," Horton said. "These
take the form of government controls on capital flows; talent shortages;
differences in corporate and management cultures; and unfamiliarity with
foreign legal and regulatory environments, including sometimes-daunting tax
laws."
Italy
considers Vietnam ideal gateway to ASEAN
Italian businesses
have paid growing attention to
This was stated by
Ambassador to Vietnam Lorenzo Angeloni at a press briefing in
Deputy Minister of
Economic Development Carlo Calenda will lead around 100 Italian business
people operating in different fields to seek cooperative and investment
opportunities in the country.
Ambassador Angeloni
said the visit aims to realize two economic and political related tasks.
Official dialogues will be held according to the Strategic Partnership
Agreement signed by the two governments before the Italy-Vietnam Business
Forum.
In addition, the
Italian Trade Commission (ITC) will organise bilateral meetings between
Italian firms and Vietnamese partners, aiming to boost bilateral economic
cooperation relations, the ambassador emphasised.
The ITC will also
hold trade summits and events in
VCBS
triples nine-month profit on-year
Stock brokerage
VCBS has reported net profit of VND93.72 ($4.4 million) in the first nine
months of this year, 3.2 times that of the same period last year.
According to the
company, rising profits are attributed to it selling a portion of its
long-term portfolio in the third quarter. In fact, its long-term financial
investments have been reduced by VND203 billion ($9.53 million) since the
beginning of the year.
Aside from stock
brokering, the firm wants to focus more on bonds. VCBS currently holds a 30
per cent share of the Vietnamese bond brokerage market.
VCBS has set a
target of VND110 billion ($5.17 million) in net profit for this year, up 25
per cent against 2013.
Tan Phu
Trung Industrial Zone continues to woo investors
Investors keep
flocking to Tan Phu Trung Industrial Zone in
From the outset of
2014, the IZ has attracted a number of investors.
On July 21, Kem
Nghia JSC penned a contract on leasing five hectares space in the IZ for
building a mechanical factory.
Most recently, CP
Vietnam Livestock Limited leased over 6ha space for deployment of its food
processing plant.
In the year to
date, the Southwest Saigon City Development Corporation (SCD), the developer
of Tan Phu Trung IZ, has attracted nine investors operating in different fields
as mechanical engineering, packaging and food to land their projects covering
16.5ha in total area in Tan Phu Trung IZ.
This month,
developer SCD will sign contracts with new investors, proving the IZ
increasing appeal to investors and businesses.
Tan Phu Trung
Industrial Zone’s developer (SCD) was grown from Song Tan JSC which was
founded on November 4, 2003.
Its founding
shareholder is state-own Ho Chi Minh City Finance and Investment Company
(HFIC).
SCD’s key strategic
shareholder is Kinh Bac Urban Development Corporation (KBC), one of member
businesses belonging to Saigon Invest (SGI)- a leading professional group in
industrial zones investment and development in
Since its debut
more than a decade ago, Tan Phu Trung IZ has undergone many ups and downs
associated with regional and global financial crises.
Through making
gigantic efforts, the IZ has posted sound achievements and made significant
contributions to industrial property sector development as well as Vietnamese
society.
Last year was full
of hardships for the property market, and particularly industrial property
segment and businesses operating in industrial zone infrastructure investment
and trade.
Tan Phu Trung IZ
management and employees had ramped up efforts to weather the storm and
gradually get out of difficulties.
The IZ has proved
itself a safe harbour to investor ventures.
In the upcoming
period, Tan Phu Trung IZ is committed to making use of every chance to
effectively serve investors, partners and customers.
Located in
Vietnamese
businesses encouraged to build on strong online presence
The value of strong
online presence to businesses, particularly those small and medium in size
(SMEs), was the main focus of a Verisign-sponsored seminar on brand building,
development, and intellectual property in international trade, hosted by the
Vietnam Chamber of Commerce and Industry in
A representative
from Mat Bao, one of
During the seminar,
various experts shared trends and their experiences in creating e-identity
and emphasised the benefits of having a branded domain name that is
associated with the business’ online presence.
There are multiple
domain extensions available but .com is one of the most widely recognised
standards for businesses online, with 114.9 million domain names registered
worldwide at the end of 2014’s third quarter.
Luong Thi Thanh
Huong, managing director of Mat Bao Network in the north, said “International
domains play and important role for online business, and .com is powered by
Verisign – the operator of the largest domain name registry in the world.
Verisign has proven industry-leading expertise in managing the .com
infrastructure with 100 percent operational accuracy and stability for more
than 15 years.”
“Enterprises that
use .com domain names can benefit from this availability, reliability and
stability,” Huong asserted.
In fact, a .com
domain name can be purchased at only a fraction of a business’ overall set-up
costs, but it can become the most valuable investment a business can make to
enable customers to find its online “home” at any given time even as that
enterprise looks to grow footprint at home and abroad.
With 100 percent
operational stability for more than a decade, .com is highly recommended
domain choice by global experts.
Mat Bao was founded
in 2002, at the very first step of
Mat Bao started its
business by creating websites and developing software ordered by customers.
Today, the company has over 1,000 employees with its subsidiary companies
such as Mat Bao Network, Mat Bao Media, BPO Mat Bao, and more.
VietinBank
launches mPOS service
The State Bank of
Vietnam (SBV) has permitted the Vietnam Bank for Industry and Trade
(VietinBank) to implement a pilot scheme to provide mobile points of sale
(mPOS) service to its customers.
The central bank
has told VietinBank to follow regulations on accounting and banking documents
as well as electronic transactions for the new service. For example, the
electronic receipts of the service must contain all the information required
for a transactions via a normal POS.
The bank should get
card holders’ permission before sending the electronic receipts to their
e-mails or cellphones so as to keep their personal information confidential
as stipulated in prevailing regulations.
The trial use of
the electronic receipts is one year from the date of VietinBank getting SBV
approval for the mPOS service.
Minister
supports special zone plans
Justice Minister Ha
Hung Cuong said the schemes to establish special economic zones (SEZs) Van
Don, Bac Van Phong and Phu Quoc are in accordance with the Government’s
policy though some legal issues need to be tackled.
The issues are
related to the ‘too special’ management mechanisms and incentives for the
planned SEZs in the
Cuong said the
ministries of justice, finance and planning-investment, and the National
Assembly Office have had a meeting with the localities to discuss the
legality of the SEZs.
At the meeting,
representatives from the three provinces expected to get approval for the SEZ
establishment with special management mechanisms as well as land and tax
incentives to help them attract more investments and beef up their
socio-economic development.
However, some
delegates at the meeting said the planned SEZs should be weighed as the
management mechanisms proposed for these SEZs are ‘too special’ and the
incentives for these SEZs will be the most preferential ever.
However, Cuong said
the proposals of Quang Ninh, Khanh Hoa and Kien Giang provinces to set up
special administrative and economic entities for the SEZs are in line with
the Government’s policy.
Local
firms’ integration readiness in doubt
Nguyen Dinh Cung,
director of the Central Institute for Economic Management (CIEM), has cast
doubt on the readiness and ability of Vietnamese firms to capitalize on the
country’s deepened integration into the global economy.
Competition will
grow stronger, Cung told a function held in
Cung said he is not
certain whether
The survey was
conducted with nearly 2,500 private SMEs in the processing field in ten
provinces and cities, including Hanoi, Haiphong, HCMC, Phu Tho, Nghe An,
Quang Nam, Khanh Hoa, Lam Dong and Long An.
According to the
survey, up to 95% of enterprises were of micro scale in 2011 and these
enterprises had remained super small until last year.
Some 92%
enterprises surveyed in 2011 still survived last year while only 431
enterprises were said to disappear. 70% said their business activities last
year were affected by the global economic slump while only 15% said they did
not feel negative impacts of the crisis.
Reducing production
costs (58%) and seeking new markets (49%) were the common measures used by
enterprises to weather tough times.
According to the
report, there were a few enterprises posting good results last year thanks to
their access to low-cost inputs and available skilled labor.
What is notable in
the report is falling productivity, mainly at micro enterprises in rural
areas. Up to 75% enterprises reported declining labor productivity in the 2011-2013
period.
The ratio of
enterprises making new investments also tumbled, from 56% in 2011 to 48% last
year, mostly contributed by small enterprises in southern areas.
Professor John Rand
from the
According to Cung,
the latest survey uncovered the bleak situation of SMEs in
“What makes us
worry is why Vietnamese enterprises cannot grow and the reason is that they
lack fundamentals. Therefore, the measures taken by the Government to support
the country’s further integration and institutional reform are unlikely to
deliver good results,” Cung said.
Jan-Oct
budget collections up 15.2%
State budget
collections in the first 10 months of the year neared VND719.5 trillion,
rising 15.2% compared to the same period last year and meeting 91.9% of the
whole year’s target.
The Ministry of
Finance said State budget collections have grown steadily this year. In the
year to the end of last month, total State budget revenues had surpassed
VND636 trillion, or 81.3% of the year’s target.
Tax and fee
collections from domestic sources in the January-October period increased
16.5% year-on-year and reached 90% of the year’s target. The respective
figures from imports and exports were 14.4% and 92.2%.
According to the
ministry, relevant agencies have taken drastic measures to collect taxes and
fees and tax arrears, as well as intensify inspections and improve
management.
The ministry said
State budget spending in the ten-month period was over VND853.6 trillion, or
84.8% of the estimate for this year. The disbursements from State budget for
development investment were nearly 85% of the target and from government bond
sales 74.5%.
The January-October
budget deficit was put at nearly VND135 trillion, nearly 60% of the estimate
for this year.
As of October 24,
some VND221,240 trillion had been raised through government bond sales,
meeting 74.4% of the target for capital mobilization this year to make up for
the budget deficit and development investment.
The HCMC government
plans to equitize a dozen State-owned enterprises (SOEs) this year and
complete its SOE equitization program by 2017.
The equitization
plan was updated by HCMC chairman Le Hoang Quan at a meeting on SOE
equitization in the city on October 4.
According to the
HCMC steering committee for enterprise reform and development, the city looks
to equitize 31 SOEs in 2012-2015, and 48 others after that.
The city government
expected 12 SOEs would go public this year instead of 15 as previously
planned due to delays in asset evaluations at three enterprises.
Earlier this year,
leaders of 29 SOEs in the city pledged to resign or face sanctions if their
enterprises cannot go public by the end of 2015.
According to HCMC
vice chairman Le Manh Ha, the city government last year failed to equitize
nine SOEs.
The HCMC government
wants to relocate apparel factories to neighboring localities to cope with
the labor shortage here, and the city to serve as a fashion design hub.
This orientation is
included in a master plan for developing the city’s textile-garment industry
to 2020 with a vision to 2030 which is expected to be issued early this week
by the city’s Department of Industry and Trade.
As planned, 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 labor 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 VND33 trillion by 2025 with investments in the inner city
accounting for VND8.75 trillion.
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.
Global
experts attend
One hundred leading
experts from
At the three-day
annual event at Ton Duc Thang University, they will present 60 papers on
algorithms, data analysis and information retrieval, industrial management
and other applications, modelling and optimisation, networking, pattern
recognition and image processing and various aspects of computer security.
More than 10 of
them will be presented by Vietnamese researchers and scientists from
VN firms
urged to protect brands overseas
As intellectual
property rights are becoming increasingly important in international trade,
experts urged Vietnamese companies to pay attention to overseas trademark
protection registration.
According to the
Viet Nam Chamber of Commerce and Industry (VCCI), only about 1,000 Vietnamese
trademarks are currently registered overseas. This is just a modest number
given the hundreds of thousands of existing Vietnamese companies.
At a workshop on
trends and measures of brand development and intellectual property protection
in international trade held yesterday, experts said brands and intellectual
property were increasingly ruling global product value. They noted that brand
value now accounted for one-third of the global economy's value.
Doan Duy Khuong,
VCCI deputy chairman, said brand and trademark building must always be
associated with registration for intellectual property protection.
He observed that
brands were critical for a sustainable economy, and a competitive economy
must have competitive brands in both domestic and international markets.
However, according
to Tran Van Hai, head of the Intellectual Property Division of the
Hai said small,
medium and large enterprises risked losing their intellectual property in
international trade. He cited the cases of Vietinbank and Buon Ma Thuat
coffee as examples.
A Russian
commercial bank registered Vietinbank's formal name, Incombank, while a
Chinese company registered coffee brand Buon Ma Thuat for sole patent rights
in
The concerned
Vietnamese companies were informed about these registrations after the fact.
The Chinese Ministry of Industry and Trade cancelled the Buon Ma Thuat Coffee
trademark registration early this year.
Hai explained that
trademark protection registration was indispensable and urged Vietnamese
companies to have a better understanding of international trademark
protection principals.
At the workshop,
experts also urged Vietnamese companies to pay attention to online brand
identity in a rapidly changing and digitised world, as this allowed for
differences in competition.
HCM City
slashes meat, egg prices
The HCM City
Department of Finance on Tuesday approved a plan to cut the prices of poultry
and animal meat and eggs sold under the price stabilisation programme.
The new prices,
down by VND1,000 -VND5,000, took effect yesterday.
The price of duck
meat has fallen by VND5,000 a kilogramme to VND65,000, and chicken and duck
eggs are down VND1,000 for a box of 10 to VND23,000 and VND32,000
respectively.
Companies participating
in the programme, including Big C, Saigon Co.op, and Vissan, cut pork prices
by VND2,000-VND3,000 a kilogramme.
Nguyen Quoc Chien,
head of the department's Price Division, attributed the price decline to
lower prices in the market and a drop in costs.
Many of the
participating companies said they cut prices to stimulate demand, which has
been falling.
Suppliers and
supermarkets have also launched promotions.
Vo Hoang Anh,
Saigon Co.op's marketing director, said with fuel and cooking gas prices
falling, the supermarket has urged suppliers to cut prices of essential items
to spur demand.
Saigon Co.op has
cut the prices of thousands of essential products by 10-50 per cent until
November 12, he said.
Participants in the
price stabilisation programme are required to cut the prices of goods when
their cost falls by 5 per cent.
The price of all
the goods in the programme are 10 per cent lower than market prices.
The department
estimates that since the supply of poultry will be abundant until year end,
prices will remain stable.
NA backs
microfinance companies
The banking
services of credit institutions have so far met the economy's diversified
demands, but more microfinance organisations and consumer finance companies
need to be set up.
This was the
suggestion made in a report, released this week by the National Assembly's
Economic Committee, on licensing business registration, establishment and
operation of enterprises and credit institutions as well as insurance,
securities and fund management companies.
According to the
committee's report, the banking system currently has 47 commercial banks, two
policy banks, and 53 foreign banks' branches, besides 28 non-banking credit
institutions, one cooperative bank and 1,144 people's credit funds, as well
as two microfinance organisations.
Currently,
commercial banks play a key role in the whole credit institution system, the
committee said, adding that Vietnamese commercial banks have an advantage
over foreign banks in terms of operational network.
However, the relevant
authorities should boost the establishment of microfinance organisations and
consumer finance companies as their number remains restricted, the report
said.
It added that the
State Bank of
The committee
attributed the modest number of microfinance organisations to a lack of legal
framework for licensing the establishment and operation of such
organisations.
The report said
that the number of newly established enterprises in real estate,
construction, mining and industrial processing, besides manufacturing has
reduced significantly, in contrast to a consecutive rise of those in
education and training, arts and entertainment, and healthcare and social
work sectors.
Citing national
data on business registration licences, the committee reported that at the
end of last year,
The provinces and
cities in the country's northern mountainous and Central Highlands regions
last year saw the maximum increase in the number of newly established firms
with 26 per cent and 45.5 per cent respectively, while the number of firms
that were dissolved or had ceased operations in the regions fell by 5 per
cent and 6.7 per cent respectively.
The number of newly
established firms in the Song Hong (
This was the
consensus of experts at a conference held here yesterday on "Economic
2014 Review and 2015 Prospects."
Sanjay Kalra, the
International Monetary Fund resident representative in
Kalra said the
forecast was lower than expected because difficulties arising from the global
economic crisis remained, along with unpredictable changes in the financial
market.
The IMF
representative also forecast global GDP next year to reach 3.8 per cent. For
But Kalra suggested
that
"The country's
economic growth and macro-economic stability has shown remarkable
improvement. However, risks have been huge as debt has been a concern while
business effectiveness of State-owned enterprises stirred challenges for Viet
Nam's financial year," he added.
He said the banking
sector should also be restructured and merged to ensure a system that was
strong enough to improve bad debts. The economy needed reforms to improve
output and quality, he added.
Barry Weisblatt,
head of VPBank Securities' Analysis Department, said most of
Nguyen Duc Vinh,
general director of VPBank, said business and finance directors as well as
banks mapped out plans for 2015.
A report from the
bank showed that
If the Government
chose a high growth rate, the country's public debt would be higher. If the
Government maintained current sustainability, annual GDP growth will be less
than six per cent and lead to record inflation.
However, the
currency will remain unchanged and securities growth will remain at 20 per
cent per year.
The Government will
have to reduce public debt through State-owned enterprises' restructuring to
divest from ineffective businesses while promoting private investment and
commerce.
"If the
Government chooses the second plan, the lending interest rate will be at a
low level next year, leading to higher profits for businesses. The lending
costs will also be reduced, thereby contributing to credit growth," the
report said.
The bank also said
that regardless of which plan the Government choose, share prices would rise
in the first half of next year.
However, Tran Dinh
Thien, head of the Central Institute for Economic Management (CIEM), believes
that difficulties lie ahead for the economy.
"The economy's
recovery remains faint, as domestic enterprises were weaker than foreign
ones," Thien said, adding that the Government should provide solutions
that make domestic businesses stronger.
He suggested that
the country renew its growth model and mechanism, as well as craft and
implement policies encouraging the development of domestic companies.
Nguyen Mai,
chairman of the Viet Nam Association of Foreign Invested Enterprises,
expressed the same view, saying that the first task should be to review
public debts. The country should take measures to help small and medium
enterprises gain access to capital for production.
"If the
Government resolves the issues of capital and public debts, the country's
growth in 2015 will be higher," Mai added.
Vo Tri Thanh, CIEM
deputy head, noted that the economy has shown positive and negative signs.
"However,
Funds
pledged for water supply projects
Contractors who
build water-supply projects would receive financial and policy support from
Ha Noi People's Committee, said Dao Duy Tam, deputy director of Ha Noi's
Agriculture and Rural Development Department.
"The city's
government will fund 45 to 90 per cent of the estimated cost of building
clean water plants," he said.
The amount of
funding will increase if the plants are built in mountainous and ethnic
minority areas. Other plants in hill and midland areas will receive less, and
those in delta regions and towns will receive the least. The graded funding
is meant to encourage development in rural areas which are in need of water
systems.
According to the
new policy, contractors would only receive the rebate when they finish
construction of plants, Tam said.
However, he
suggested that the funds would be better distributed in an incremental
fashion, based upon the progress of construction and financial reports issued
by contractors.
Contractors should
also be able to receive loans from preferential credit funds, the city's
development and investment funds and international organisations, he added.
Tam added that
previously there were almost no land policies for the construction of clean
water plants. The lack of official guidance about appropriate construction
procedures often forced constructors to abandon projects.
Many commune
authorities and local residents also showed little interest in clean water
projects and many contractors lacked sufficient capital to carry them out.
The chairman of Ba
Vi's People's Committee, Duong Trung Lien, told Viet Nam News that a planned
project had not been carried out in his commune because the contractor lacked
capital.
Projects also
received little interest from locals in Thach That District's Tien Xuan
commune. The commune's chairman, Bui Van Tinh, told Viet Nam News that
residents were happy with well water since it was safe, hygienic and free.
The average income
of local residents is VND16.5 million (US$785) a month and the average income
of its poorest residents is below VND550,000 ($26) per month.
Tinh said the
lowest water price would be VND5,020 ($0.23) per cubic metre, which would be
untenable for many residents.
So far, city
authorities have approved construction of six clean water projects and
distribution of 40,000 water filters to supply water to 340,000 rural
residents, the Deputy Director of Agriculture and Rural Development
Department said.
However, to date,
city authorities have only completed installation of 10,000 filters for
45,000 residents in Phu Xuyen, Ung Hoa, Thanh Oai and Thuong Tin district, he
said.
Adjusted EZ
planning gives VSIP incentives
The government last
week gave approval in principle for expansion of the Dong Nam-Nghe An
Economic Zone to include the
The adjustment
would allow manufacturers and investors planning to invest in the Vietnam
Singapore Industrial Park (VSIP) Nghe An project to enjoy the highest tax
incentives offer for economic zones.
The approval
follows a petition from the People’s Committee of Nghe An province in April.
In an announcement released by the Government Office on October 29, Deputy
Prime Minister Hoang Trung Hai directed the provincial people’s committee to
be responsible for adjusting the Dong Nam-Nghe An Economic Zone borders set
forth in the master plan to include the VSIP Nghe An project.
The Ministry of
Planning and Investment was responsible for appraising the adjustment and
then submitting it to the government for final approval.
In February, Nghe
An’s People’s Committee signed a memorandum of understanding with Becamex,
the Vietnamese stakeholder of the reputable industrial park developer VSIP,
to conduct a feasibility study of a VSIP industrial park and township complex
in the province.
The site of the
project was located just outside the Dong Nam-Nghe An Economic Zone, and the
developer demanded inclusion into the zone as a precondition for investment.
The government’s decision to support VSIP in this is a big step forward for
the group’s investment in the country.
Established in 1996
as a joint venture between
Thus far, VSIP has
developed five industrial parks nationwide, including two in Binh Duong, one
in Bac Ninh, one in
The VSIP Nghe An project,
if carried out, would be VSIP’s second in the central region. The developer
is also currently conducting a feasibility study for developing another
project in Binh Dinh.
Last month the Hai
Duong People’s Committee announced that the Vietnam-Singapore Industrial Park
Bac Ninh, a VSIP subsidiary, will acquire
Wood firms
face fiercer competition at home
Local wood
enterprises will face a tougher price and product quality competition with
their rivals from other parts of
When the AEC is
formed, enterprises in ASEAN countries will enjoy free tariffs on their many
goods exported to
Tariff exemptions
will make life harder for Vietnamese producers, particularly wood firms, on
the local market, Hanh told a news briefing held in HCMC last week to
introduce the Vietnam Furniture & Home Furnishing Fair, or VIFA Home
2014.
Currently, Thai
companies look more aggressive in their plans to acquire supermarkets and
attract distributors to realize their targets to make and sell their products
in
More challenges
will also be from
Imported wood
products accounted for 20% of the domestic market in the first half of this
year, and furniture shipments from
A lack of timber is
also a great challenge for the local wood sector because domestic supply now
can meet only half of the demand for wood product processing and export.
Last year,
To help the local
wood sector prepare for the challenges, Hanh suggested the Government draw up
proper policies to develop wood factories near forests in the central region
to enable enterprises to process wood on the spot before having it
transported to furniture makers, helping firms save up to 75% of transport
costs.
Nguyen Chien Thang,
chairman of Alliance Handicraft Wooden Fine Art Corporation, said to ensure
material supply and reduce costs, his company is working on a project to
financially support tree growers in the central
In previous years,
growers cut down five-year-old trees for sale to have money for their daily
expenditure though wood from these young trees was of low economic value.
With the project, they are assisted to keep their forests for four to five
years more to ensure higher quality of their wood material.
The Ministry of
Agriculture and Rural Development estimated the combined exports of timber
and wood products at US$528 million last month and US$4.98 billion in the
January-October period, rising 12.8% year-on-year. The ministry aims for
US$6.3-6.5 billion this year.
AGPPS
unveils SCPE as major shareholder
An Giang Plant
Protection Company (AGPPS) has announced Standard Chartered Private Equity
(SCPE) as its major shareholder at a recent extraordinary general meeting.
The investment arm
of Standard Chartered Bank has spent around US$90 million acquiring 21.5
million shares, equivalent to a 34.2% stake at the Vietnamese firm, heard the
meeting in HCMC last Friday.
Speaking at the
meeting, AGPPS chairman and general director Huynh Van Thon said some major
shareholders decided to divest from AGPPS as their interests were no longer
suitable to the company’s development strategy.
Thon expected that
SCPE’s investment will help AGPPS enter a new stage of development.
Though SCPE is not
a board member of AGPPS in the 2014-2019 term, SCPE will assist AGPPS in
drawing up development plans and expand operations in the coming time.
With the
participation of SCPE, AGPPS aims for revenue of VND8.4 trillion and
after-tax profit of VND543 billion this year, up 13% and 8.5% year-on-year
respectively. Besides, AGPPS targets earnings per share of VND8,333 this
year, rising 3.4% against last year.
S.Korea
firms seek local partners
South Korean’s
enterprises and research institutes are looking for Vietnamese partners to
assist them in the transfer of new technologies to this market, according to
the assistant Minister of Science and Technology.
The technology
transfer plans of South Korean firms were shared by Bui Van Quyen at a
meeting with reporters on the sidelines of a seminar on technology
application and cooperation opportunities in HCMC last week.
Eight South Korean
companies attended the seminar to meet Vietnamese distributors of their
technologies for clean and renewable energy projects in the country.
Sinsane Co. Ltd.
wanted to sell solar water heating systems and equipment to big hotels and
factories at prices around 20% higher than similar products available in
CoolTop Company
introduced drying and cold storage systems for the agriculture sector. Nguyen
Van Minh, chairman of the Southeastern Institute for Agricultural
Mechanization, said he encouraged the company to promote the technology in
Tay Ninh and other localities in
Ben Thanh
Tourist offers IPO shares at VND10,500
Ben Thanh Tourist
Service Joint Stock Company, or Ben Thanh Tourist, looks set to sell 25
million shares at the starting price of VND10,500 each at its initial public
offering (IPO) slated for next month.
The shares will be
auctioned at the Hochiminh Stock Exchange on December 9. After going public,
the State will hold a 49% stake at the travel firm, which has total chartered
capital of VND250 billion.
Reporting to the
economic and budget committee of the HCMC People’s Council last week, Hoang
Tam Hoa, general director of Ben Thanh Tourist, said Phan Thanh Trade &
Service Co. Ltd. and Viet Real Estate Commercial Joint Stock Company (Vietcomreal)
are the two strategic investors as they have bought three million and 2.9
million shares respectively.
In addition,
885,700 shares (3.54%) will be offered to employees of the enterprise and 5.9
million shares (23.73%) to the public.
Currently, Ben
Thanh Tourist has 462 staff and 24 property sites across in the city. The
company has plans to organize a shareholders meeting this month and complete
procedures to operate as a joint stock company in January 2015.
Over the past 20
years, Ben Thanh Tourist has emerged as a major provider of inbound, outbound
and domestic tours, and overseas education consulting and transport services.
The company has also been active in many other fields such as hotel,
restaurant, investment service, trade development and distribution.
After equitization,
it will continue focusing on core business operations such as restaurant and
hotel, Hoa said.
According to the
HCMC government, Ben Thanh Tourist is one of the 11 State-owned enterprises
(SOEs) mandated to finish IPOs within this year.
In March this year,
leaders of 29 SOEs in the city agreed on sanctions such as salary reduction,
transfer or dismissal if they fail to realize their equitization plans
between now and 2015.
HCMC vice chairman
Le Manh Ha said nine SOEs in the city were unable to complete equitization
plans last year due to internal problems, slow property handover or contract
signing with consulting firms. Some enterprises were found to commit
violations related to labor agreements, salary and changes to key staff.
As scheduled, 31
SOEs will be equitized in 2014-2015. However, two of them have asked for
approval to delay equitization until after 2015 while the remaining firms
have pledged to go public before December 2015.
List of 29 SOEs set
for equitization in 2014-2015
- Gold Dragon-SJC
Gem Identification Co.
-
- Labor Export and
Expert Co.
- Trung An Water
Supply
- Tan Hoa Water
Supply Co.
- Satra Tien Giang
- Satra Southwest
- Saigon Forestry
Co.
- Gia Dinh Real Estate
Investment Co.
-
- Housing Trade
& Development Co.
- Ben Thanh Tourist
- River Port HCMC
Co.
- An Phu
Shipbuilding Co.
- Thu Thiem
Investment & Development Co.
- Mebiphar
- Gia Dinh Garment
& Textile Co.
- Saigon Garment
& Textile Co.
- Ben Thanh Housing
Development Co.
- Binh Thanh Real
Estate Co.
- Traffic &
Public Works Consulting
- Traffic &
Public Works Co.
- Binh Minh
Construction Co.
- Saigon Industrial
Park Development Co.
- Hi-tech Park
Development Co.
- Cho Lon
Investment, Export-Import Co.
- Bridge and Ferry
Work Co.
- Public Lighting
Co.
- Saigon Traffic
Co.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Thứ Bảy, 8 tháng 11, 2014
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét