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BUSINESS IN BRIEF 13/12
Thai Nguyen approves incentives for Samsung
The People’s Council of northern Thai Nguyen province on
December 11 officially approved a resolution on investment incentives for
Samsung Electronics Vientam Thai Nguyen’s second phase hi-tech production
complex (SEVT2) located in Yen Binh Industrial Park (IP).
Accordingly, the investors receive incentives and investment
assistance so that they can fulfill their commitment to meeting the criteria
required for a hi-tech enterprise. These criteria have been approved by the
Ministry of Science and Technology.
While the SEVT2 project is being set up, investors are offered
50 percent exemption in their corporate income tax payments for the three
years, once their tax exemption limit expires under the Law on Corporate
Income Tax.
The investor will have to pay only 50 percent land rental fee
in Yen Binh IP, for 70ha of area or its equivalent.
Annually, the land rental fee will be lesser or equivalent to
the tax figure paid by the company to the State.
According to Thai Nguyen province, the SEVT2 project aims to
lead research and development in mobile devices, electronics,
telecommunications and high-end technology.
It also intends to spearhead the manufacture and assembly of
mobile phones, laptops, digital cameras and smart televisions.
The 3 billion USD project will be located near the company’s
first factory which came into operation in March this year with the total
investment capital of 2 billion USD in Yen Binh IP.
The 70ha plant is expected to initially recruit 20,000
workers, a number that will be later increased to 30,000. The two factories
are expected to create jobs for around 100,000 local residents.
The first plant of Samsung in
HCM City seminar helps boost trade, investment in Russia
A seminar was held in
According to Deputy Director of the HCM City Investment and
Trade Promotion Centre (ITPC) Ho Xuan Lam,
The two countries should map out their own strategies to
exploit each other’s markets, especially after a Free Trade Agreement (FTA)
between
Kapustkinh Nikolay A, Deputy Chief Representative of the
Russian Trade Office in
On the occasion, ITPC informed that it will send a delegation
to study the market and promote trade in
Two-way trade between
Trade between
Cutting-edge technologies in food industry on display
More than 100 up-to-date equipment and products in the food
industry are being on show at a two-day mart that kicked off in
Techmart 2014, held by the city’s Centre for Science and
Technology Information, is meant to introduce and transfer scientific and
technological achievements in nutritional and functional food so as to help
southern businesses update their production lines and raise products’ values.
Some outstanding exhibits include technologies producing
crocodile bone glue, cordyceps roberti, and herbal tea, as well as machines
using nano technology to make pills and ointment.
He added that businesses need to procure advanced equipment so
that their products can compete with imports.
Within the framework of Techmart 2014, experts from research
institutes and universities will also advise companies about technological
innovation and product development.
Crafting industry turns to designing for tough markets
The move is supported by a project, entitled “Developing
designs of sustainable brands for the crafting industry in
The 554,883 EUR project is considered as the first step in
setting up a new trend of designing sustainable eco-brands, which has just
taken root in
It aims to enhance the designing capability of small and
medium-sized enterprises towards meeting standards of tough markets such as
the EU.
Around 200 enterprises will be selected for the project, which
also assists at least 50 companies with the development of their own sustainable
product groups.
The Vietcraft said it offers assistance to enterprises in
training and developing new designs, updating new consumption trends as well
as holding classes on the latest designing and product trends.
According to Le Ba Ngoc, Vietcraft General Secretary, many
Vietnamese companies have yet acknowledged the importance of developing
sustainable designs as well as the need of regularly innovating products.
Only 5 percent of the total 1,600 industry enterprises comply
with international standards on quality, society, and environment such as
ISO, SA8000, BSCI, failing to gain a strong identity for Vietnamese craft
products internationally, Ngoc said.-
Unlocking the Russian export potential
The Kremlin is bent on turning the Customs Union of Russia
into a throbbing financial centre and they need
That was the message from speakers at a seminar in
Speaking at the seminar, Deputy Director Ho Xuan Lam of the
Investment and Trade Promotion Centre (ITPC) said
The relationship has been highly beneficial for both countries
Lam said, adding that
Lam underscored the point that the two sides have been putting
the final touches on a Free Trade Agreement (FTA), which should be signed by
late 2014. The FTA should provide the foundation for devising a concrete
strategy to explore each other’s markets more fully.
Kapustkinh Nikolay, a Russian commercial representative in
The government has been actively improving the business
climate and when the FTA comes into effect Vietnamese businesses would have
ample opportunity to enjoy import tariffs of zero percent, he said.
In the first nine months of the year, the two-way trade
turnover between Vietnam and Russia hit more than US$2 billion with
Vietnamese exports to Russia reaching nearly US$1.44 billion and its imports
from the market tallying in at US$768.4 million.
In particular, the trade turnover between
At the event, the ITPC also unveiled a plan to send a
delegation of local businesses this coming January 17-24 to conduct a market
survey with an eye to boosting boost trade.
Beefing up agro-industry in the
A seminar on the means and methods of broadening agricultural
exports of the Mekong River Delta took place in Can Tho city on December 11
within the framework of the 2014 Vietnam International Agriculture Fair.
Speakers at the event analyzed the current situation of
agricultural exports of the Mekong River Delta region and gave their insights
into how best to maximize production and profits.
Those in attendance also hotly debated issues related to the
effectiveness of agricultural production in the Tam Nong district in the
Notably, they said the locality has been successful in
elevating its trade name for having high quality agricultural exports.
Luu Hong Man, deputy director of the Mekong River Delta Rice
Research Institute, said the cooperation between businesses and farmers
should be further pushed up to help farmers increase revenue and improve
their livelihoods.
In the fiercely competitive rice industry, leading economists
at a seminar in Can Tho City on December 11 say Vietnam is right on track to
become the world’s largest exporter by 2020, providing the Southeast Asian
nation can overcome its shortcomings.
They added that at present, some nations –
In recent years, the Mekong River Delta region has spared no
efforts to attract investment in the field of rice production. Many
international organisations and foreign investors have also been upsizing the
production model.
However, to date these have just been pilot programmes and
have had no real world impact on rice production in
Although
Duong Quoc Xuan, deputy head of the Steering Committee for the
Southwest region stressed the need to devise a zoning plan for rice
production, organise a purchasing and reserve system and focus on building
national brand names.
On a more positive note, the Vietnam Southern Food Corporation
and Mekong Delta Rice Research Institute signed a cooperative agreement to
research rice varieties, which would lay a solid foundation for producing
quality rice in vast quantities.
Garment export to hit $24.5 billion in 2014
With this result, the sector will bring in a trade surplus of
12 billion USD this year, according to the Vietnam Textile and Apparel Association
(VITAS).
The association also mentioned a shift of orders from other
countries to
In recent years, the sector has focused on diversifying
material supply sources to ease the dependence on foreign source and increase
competitiveness. To date, it has raised the localisation rate to more than 50
percent.
Le Tien Truong, General Director of the Vietnam National
Textile and Garment Group (Vinatex), said the group’s subsidiaries have
increased investment in material production, adding that their textile fabric
output can meet 60 percent of domestic demand.
He emphasised the need to build a trademark for
Vietnam has introduced a six-point proposal aiming to boost
economic and trade ties between Cambodia, Laos, Myanmar, and Vietnam and
India, suggesting all parties minimise trade and investment barriers to each
other’s businesses.
The countries should encourage their enterprises to make full
use of their respective market access preferences, said Deputy Minister of
Industry and Trade Do Thang Hai.
Hai led a delegation of 130 Vietnamese businesses and
officials at a business forum between
He also proposed that
Hai stressed the need for these countries to simplify
administrative procedures and make them highly transparent by developing
modern customs system, and to strengthen collaboration within the ASEAN-India
cooperation framework.
The officials underlined the necessity to speed up
negotiations for the ASEAN-India free trade agreement, aiming to set up a
comprehensive and full free trade area between the bloc and
He also pointed to the need for the countries to share state
management experience as well as strengthening expertise exchange and
education affiliation.
The country is working hard with other ASEAN members for the
establishment of an ASEAN Economic Community in 2015, making it a 600
million-strong single market that has a total GDP of nearly 2.5 trillion USD,
he affirmed.
Chandrajit Banerjee, Director General of the Confederation of
Indian Industry, said he hopes the event serves as a chance for policy-makers
from CLMV to meet and talk with Indian businesses on opportunities to foster
Indian-CLMV partnership.
Foreign firms win HR awards
Thirteen businesses received the Vietnam HR Awards for best human
resource practices given away by the Talentnet Corporation and Labour and
Social Affairs newspaper at a ceremony in
Endorsed by the Ministry of Labour, Invalids and Social
Affairs, the newly instituted awards are aimed at recognising and honouring
businesses with excellent HR policies, promoting effective HR strategies, and
creating a forum to share HR policies and practices.
They are given to outstanding enterprises in five human
resources categories: manpower planning and resourcing, compensation and
rewards management, performance management, training and human capital
management, and best workplace environment.
A sixth prize recognises the efforts of companies that went
through transition periods but remained focused on HR and achieved
encouraging results.
Only four of the winners were Vietnamese - The Gioi Di Dong,
FPT, Tan Cuong Minh, and Thanh Cong Textile Garment, Investment and Trading
Joint Stock Company.
The rest were multinational firms — Intel Products Vietnam,
Unilever
Intel won in three categories: manpower planning and
resourcing, compensation and reward management, and best workplace
environment.
This also fetched it the Best Enterprise of the Vietnam HR
Awards 2014 award.
Arnold Chan, Managing Director of Grow Talent Pte Ltd. and a
member of the jury, said Vietnamese companies are acknowledged for their
flexibility, creativity, and adaptability.
Multinational companies are best known for their professionalism
and standard measurement methods, which help develop a HR strategy that is
closely connected with the business strategy, he added.
RoK desires to develop business clusters in Vietnam
Enterprises from the
Noh Kyeong Yong, who headed a RoK business delegation to visit
the
The cluster establishment aims to create a favourable
environment for RoK enterprises to cooperate with each other, promote their
strengths and increase their competitiveness, he underscored, adding that a
cluster of around 100 enterprises needs about 150-300 hectares of land.
Mai Tien Dung, Secretary of the provincial Party Committee and
Chairman of the provincial People’s Council, affirmed that Ha Nam always
welcomes foreign investors, including those from the RoK and has applied a
number of policies to attract them.
The province supports the RoK’s cluster investment, he said,
adding that it has cleared a site of 100ha in the Dong Van III Industrial
Park in Duy Tien district for a RoK cluster and can expand the area by
300-400ha.
As many as 55 RoK enterprises are successfully operating in
the locality.
Enhancing regional links in production and consumption stages
is urgently needed to increase the value of farm produce in the Mekong Delta
– the largest rice granary in
Speaking at a workshop in Can Tho City on December 11, Vice
Chairman of the municipal People’s Committee Truong Quang Hoai
He urged research institutes and universities to get involved
in the production chain and technological transfer through developing and
supplying high-yield, quality plant and animal strains as well as advanced
cultivating and breeding techniques.
At the same time, exporters need to share information to
prevent unfair competition and popularise the brand names of farm produce in
the global market, experts said.
The Departments of Agriculture and Rural Development in 13
cities and provinces in the delta are collaborating to expand the application
of environmentally-friendly production models in accordance with the V ietnam
Good Agricultural Practice (VietGAP) and GlobalGAP standards.
This aims to increase prices for export farm produce,
particularly such staples as rice, shrimp, tra fish and fruit, according to
Pham Van Quynh, Director of the Can Tho Department of Agriculture and Rural
Development.
Saigon VRG to build Industrial Park in HCM City
The HCM City People's Committee has decided to establish the
Le Minh Xuan 3 industrial park in Binh Chanh District.
Under the decision, the Saigon VRG Investment Holding
Corporation (Sai Gon VRG) will invest 1.2 trillion VND (56.3 million USD ) in
the construction of the park.
Spread over more than 231ha in Le Minh Xuan Commune, the park
will be home to clean and high-tech industries such as electronics, IT, food
and medical processing.
The park will also serve the ancillary services of the medical
equipment, garment and textile and footwear industries. Sai Gon VRG said that
the park will be near the city centre where there are several supporting
industries and a substantial skilled workforce. In addition, there will also
be an 80ha residential area, comprising living space and entertainment
centres for the park's experts and workers.
The park is the third of its kind in the commune. The first
two industrial parks, Le Minh Xuan and Le Minh Xuan II, were built over more
than 437ha and are in operation.
As a member of the Viet Nam Rubber Group, Sai Gon VRG, set up
in 2007, specialises in investment, industrial park infrastructure development
and real estate, besides residential areas having essential social
infrastructure such as houses, apartments and offices, as well as restaurants
and commercial centres.
Corporatise all public service units: officials
The plan to convert non-business units of State-owned
corporations into joint-stock companies should be expanded to cover those
under ministries and provincial administrations, officials said yesterday.
Representatives of many ministries and sectors made this
suggestion at a conference held to discuss a draft Governmental Decision on
the conversion process.
At present, the plan is to pilot the conversion at State-owned
companies that are to be equitised, but delegates at yesterday's conference
said that it should also include non-business units under ministries,
People's Committees of cities and provinces nationwide.
They said that over many years of equitising State-owned
corporations, many public non-business units, especially in the healthcare,
education and training sectors, had been given autonomy and responsibility
for performing their tasks and managing their organisational apparatus,
payrolls and finances.
This has had a positive impact by improving the quality of
public services, they added.
According to the Ministry of Finance, the main drafter of the
Government Decision, the conversion aims to reform the work of public
non-business units and enhance their capacity to provide high-quality
services to society as a whole, contributing to national socio-economic
development.
The ministry said that the conversion can be done in three
ways: keeping unchanged the existing State investment capital in the
enterprises and issuing shares to attract more capital where needed; selling
part of the State's stake or doing it in combination with issuing shares; and
selling the entire stake of the State in the enterprises or doing it in
tandem with issuing shares.
Under the draft decision, after becoming joint-stock
companies, the units will operate under the Law on Enterprises and other
relevant regulations.
They will continue providing public services but can decide on
the prices of the services based on a reasonable calculation of their
expenses.
The decision also says that employees of the non-business
units who are experts will be given priority in buying shares in the new
joint-stock company.
Deputy Prime Minister Vu Van Ninh agreed with the proposal to
expand the process, but added that units under State-owned corporations might
enjoy some preferential policies.
Ninh, who is also the head of the Steering Committee for
Enterprises Innovation and Development, said that in terms of financial
management, units like hospitals, schools and research institutes should be
allowed to self-evaluate their human resources and the State would cover the
expenses of this process as well as subsequent training provided.
He explained the purchasing priority given to expert employees
by saying the success of the new companies depends on both financial and
"grey matter capital.
Ninh also said that based on the characteristics and functions
of the units, the State would have some involvement in the conversion process
when national defence and security issues come into play.
The Finance Ministry should draw up a list of those
non-business units that require such involvement, he said.
Half-done property projects hard to find buyers
Selling half-done property projects is one of the few
solutions for investors to ride out financial difficulties, but this has
turned out to be a tough task for them.
Nguyen Ngoc Thang, director of Saigon Real Estate Joint Stock
Company in HCMC’s District 3, said his firm is helping partners sell more
than 40 housing projects whose main components have been completed on its
website but these projects have not attracted buyers.
Among the projects put up for sale are an 18-story serviced
apartment and hotel complex on an area of 1,700 square meters on
A project of 21 stories and two basements on Ta Quang Buu
Street in District 8 consists of 334 apartments and is being sold at VND200
billion. The property brokerage is also finding investors for another project
with 12 stories and 154 apartments at Thu Duc Intersection in Thu Duc
District at VND225 billion.
Thang said Saigon Real Estate has not found buyers for the
projects though the detailed plans of these projects have been approved. The
main reason is that they are not situated in good sites while their prices
are high.
Property investors have to sell their half-done projects as
they are in dire need of capital to pay debt and continue investment plans.
Pacific Property and Infrastructure Development Joint Stock
Company (PPI) is looking for partners to invest in or buy its office and
apartment project on
A representative of PPI acknowledged the company does not have
sufficient capital to continue developing the project whose 1/500-scale
zoning plan has been approved.
Nguyen Van Duc, vice chairman of the HCMC Real Estate
Association, said mergers and acquisitions (M&A) in the property sector
started 3-5 years ago when banks acquired half-done projects from the
investors unable to repay their loans. The banks set up subsidiaries to sell these
projects to capable investors.
The M&A activity in the sector has turned active since
early this year and there have been a number of win-win transactions for both
buyers and sellers. The successful deals with big investors including
Novaland, Hung Thinh, Dat Xanh and
Duc said those firms have purchased housing projects and
change them into the products for medium and low-income earners. “In reality,
property inventories remain high but the demand for budget apartments is
huge,” he said.
One investor specializing in buying half-done property
projects said it is not easy to successfully invest in such projects. As some
buyers do not have strong financial capacity, they pour lower-than-needed
investments in the projects they have acquired and this affects the
development progress of the projects.
The investor said firms which want to capitalize in the
segment of half-done property projects should work out strategies suitable
for the current market situation and have strong financial capacity.
Saigon Co.op launches its biggest store in HCM City
Saigon Co.op and the Food Company of
The six-storey, VND300 billion (US$14.06 million) store
measures nearly 17,000sq.m, making it Saigon Co.op's biggest in the city.
It sells more than 30,000 items, of which 90 per cent are
locally made. There is also a Galaxy cinema in the third floor.
Like Co.opmart's other outlets, the new one would also sell
price-stabilised goods under the city's programme, Nguyen Thanh Nhan, Saigon
Co.op's deputy general director, said.
Sai Gon Trading Group opens 47th Satra supermarket
Sai Gon Trading Group today opens its 47th Satrafoods
supermarket outlet in
The store on
It also sells nine essential items like rice, sugar and
cooking oil under the city's price stabilisation programme.
The new outlet has a foodcourt.
On the opening day the supermarket is offering a discount of
30 per cent on many items and 49 per cent at Satra Foodcourt.
The government of HCMC looks to achieve VND265.77 trillion in
budget revenue next year, up 8.08% against this year, and gross domestic
product (GDP) growth of 9.5-10%, heard the 16th meeting of the HCMC People’s
Council that opened on December 9.
According to HCMC vice chairman Hua Ngoc Thuan, the city has
attained strong GDP growth this year, at 9.5%, and per capita GDP of
US$5,131. Besides, the city’s budget revenue this year is VND245.9 trillion,
rising 8.61% year-on-year.
Talking about budget collection and spending this year, Pham
Van Dong, head of the council’s budgetary and economic committee, said the
city had obtained the highest growth of budget revenue in four years.
The foreign-invested sector contributes a bigger proportion
than other economic sectors. Therefore, Dong suggested that the city
government consider more support to domestic enterprises.
Speaking at the opening session on December 9, Chairwoman of
the HCMC People’s Council Nguyen Thi Quyet Tam said the city’s economy is
still in difficulty, the economic recovery remains slow, growth quality has
not improved much, and operations of small and medium enterprises encounter a
lot of woes.
According to Tam, the city has failed to realize many targets
of the year; for instance, exports have grown only 8.8%, well below the
targeted 10%.
Regarding the land price framework, Tam said the People’s
Council will hold an extraordinary meeting on the issue on December 30 to
ensure investment attraction, benefits of residents and budget collections.
She added the land price framework will no longer be announced on a yearly
basis but every five years and the new price framework will be issued on
January 1, 2015.
VN not ready to join global value chains
Forum discussions focused on ways to promote the development
of the local private sector, especially small and medium-sized enterprise
(SMEs), and help firms increase their competitiveness and participate more
effectively in global value chains. They will also cover the development of
supporting industries in a move to reduce imports.
The participation of the Vietnamese private sector in the
global production network through closer connections with multinationals and
direct export was a good way to step up technology transfer and promote
economic development, speakers said.
However, while
About 2 per cent of active firms in
The lack of a Vietnamese private sector capable of joining
global value chains has resulted in the breakdown and segmentation of local
supply chains. Having more medium-sized enterprises would help
The risk involved is that potential investors may not come to
The representation of Vietnamese enterprises in global value
chain production networks is low relative to other similar-sized ASEAN
economies. Only 36 per cent of Vietnamese firms participate in the production
network, while that number is closer to 60 per cent in more developed
economies like
SMEs cannot compare to larger firms in participating in
production networks. The importance of business size can be demonstrated in
the contribution of SMEs to export turnover, which is consistently lower than
larger firms. In
As of January 1, there were 764,374 registered businesses
under the Enterprise Law of which 391,547 were active.
In the first ten months of 2014, 60,023 companies with
registered capital of VND352.5 trillion (US$16.57 billion) were registered as
start-ups, a 6.5 per cent decline of the number of registered firms and a 9.5
per cent increase in registered capital year-on-year.
The private sector accounted for about 96 per cent of active
businesses.
Foreign investors get new guidelines
Foreign investors must be committed to a long-term attachment
in terms of interest in domestic credit institutions, if they want to buy
stakes and become strategic investors of these organisations.
This is stated in the State Bank of Viet Nam's (SBV) Circular
No 38/2014/TT-NHNN, which was issued on Monday, and takes effect on February
1, 2015.
The circular requires foreign investors' pledges to own stakes
of 10 per cent or more in the credit institutions, as well as their
involvement in helping the institutions to apply modern technology, develop
products and services, and enhance management capacity.
The regulation related to technology, products and services,
as well as management support will also be applied in case the foreigners
acquire stakes in fragile credit institutions, which are defined or put under
special supervision by the SBV.
The circular also stipulates procedures for specific cases
where foreigners buy shares to hold at least five per cent or 10 per cent of
the credit institutions' equity.
Providing guidelines for Decree 01/2014/ND-CP, issued last
March, on foreign investors buying stakes in Vietnamese lending institutions,
the new document replaces Circular No 07/2007/TT-NHNN that the central bank
issued seven years ago.
Vingroup sets up second Vinhomes real estate company
Vingroup (VIC) established another Vinhomes real estate
company with a charter capital of VND6 billion (US$282,000) in early
December, the group announced on the HCM City Stock Exchange (HSX) recently.
In the Vinhomes 2 real estate company, Vingroup has
contributed 94 per cent of the capital. The headquarters of Vinhomes 2 is
located at No 7, No 1 Bang Lang Road in Vinhomes Riverside, in the capital's
Long Bien District. It has not yet been disclosed as to who has contributed
the rest six per cent of the company's capital.
Listed on HSX as of November 3, 2014, Vingroup has VND14.53
trillion ($682 million) in charter capital and has 51 subsidiaries.
Credit Suisse named Best Foreign Investment Bank in Vietnam
Credit Suisse has been named Best Foreign Investment Bank in
This is the third consecutive year Credit Suisse has received
the Best Foreign Investment Bank in
Le Hoai Anh, Vietnam Country Head, said: “As a bank that has
demonstrated a consistent commitment to
Credit Suisse was the first investment bank to start covering
In the period under review, Credit Suisse executed a broad
range of market defining transactions that solidified its leadership position
including an international bond offering, a share placement, an international
syndicated loan, a loan restructuring and an equity swap.
Credit Suisse was sole global co-ordinator on the US$200
million senior notes offering for Vingroup in October 2013, which was the
first ever benchmark US dollar denominated bond offering for a Vietnamese
corporate and successfully re-opened the offshore US dollar bond market for
Vietnamese issuers. The bank also handled a leadership role in the US$150
million international syndicated loan for Vingroup, the first ever real
estate company in
Credit Suisse is a leading player in
HCM City company eyes wind power project in Mekong Delta
HCMC-based Phu Cuong Corporation has plans to invest US$436
million in a wind power project with total capacity of 170MW in
As scheduled, the project should be deployed in 2016 and put
into operation in 2017, Nguyen Viet Cuong said on the sidelines of a wind
power conference held by the Swedish Embassy in HCMC on December 9.
Initially, 15 turbines with a capacity of 30MW will be
constructed in the coastal town of
Vestas Wind Systems, a Danish company producing wind power
equipment and parts, has signed a cooperation agreement to supply equipment
for Phu Cuong’s project.
The corporation expects to recoup the total investment within
10 years with the price of wind power at 9.8 U.S. cents per kWh sold to
Vietnam Electricity Group.
Chris Beaufait, president of Vestas in Asia Pacific and
Vietnam – prioritised market of Canada
He stated that Canadian firms are paying great attention to
developing trade and education cooperation projects in
Canadian businesses which visit
He added that more than 220,000 overseas Vietnamese people who
are living and working in
A representative from the HCM City Small and Medium-Sized
Enterprises Support Centre said the centre has helped 57 local businesses
establish ties with Canadian partners. As a result, many Vietnamese firms
have found Canadian supermarkets as an outlet for their products and many
Canadian businesses have set up their branches in
Next year, the HCM City Business Association will coordinate
with the Vietnamese Consulate in
In addition, Vietnamese firms will hold an exhibition in
Taiwanese firms strike agriculture deals with Quang Ninh
province
Businesses from
The cooperation covers orchid planting; tea cultivation and
processing; mushroom growing; aquatic product preservation; and abalone
breeding.
Vice Chairman of the provincial People’s Committee Dang Huy
Hau said Quang Ninh has favourable conditions for developing agriculture and
boasts stable consumption market.
However, the province is encountering difficulties in
manufacturing and applying science-technology due to financial resource
shortage.
He hoped the partnership between local and Taiwanese
businesses can produce products not only for the domestic market but also for
exports.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Sáu, 12 tháng 12, 2014
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