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BUSINESS IN BRIEF 16/12
Vietnam, Customs Union put final touches on FTA
Final touches were put on a free trade agreement (FTA) between
The event was co-chaired by the Vietnamese Minister of
Industry and Trade Vu Huy Hoang and the Minister for Trade of the Eurasian
Economic Commission Andrey Slepnev with the participation of six negotiation
groups on trade in goods, trade in services, investment, and personal
movement; rule of origin; trade remedy; customs cooperation; trade
facilitation; and legal and institutional issues.
In a bid to conclude the FTA talks in late 2014 as set by the
two sides’ leaders, the negotiators fine-tuned the wording of the chapter on
customs cooperation and basically finalised that of the remainders.
They signed an announcement on the basic conclusion of the
negotiation and the promotion of internal consultation so as to finalise
remaining technical matters and ink the FTA in early 2015.
Seafood enterprises asked to improve quality
The seafood enterprises are asked to improve the quality of
their products to meet demands required by customers in big markets, a recent
conference has heard.
Addressing the conference on seafood consumption trend in big
markets and enterprises’ social responsibilities held in Can Tho on December
12 by Swiss GSG Group, Nguyen Hoai Nam, Deputy Secretary of the Vietnam
Association of Seafood Exporters and Producers, said that the seafood
industry was facing a number of difficulties and challenges.
Those challenges are the growing local seafood production
cost, low quality varieties, problems in planning and implementation,
commercial lawsuits, weak connection in the industry, and inadequate and
inefficient policies relating to value chains,
For big markets such as the United States, the European Union
and Japan, the biggest challenge is consumers’ growing demand for products
produced in sustainable ways and certificates of origin of the products, he
said, adding that enterprises must compete via the quality products.
Tran Huu Hiep, head of the Economic Department under the
Steering Committee for Southwest Region, said that big opportunities are
lying ahead as the ASEAN Economic Community is formed in 2015 but asks
companies to boost both their product quality and competitiveness to seize
the chance.
According to the VASEP, the seafood industry has exported to
165 markets with an estimated total export value of 7.94 billion USD in 2014,
up 18.2 percent from last year and makes the country the world’s fourth
biggest seafood exporter.
On this occasion, the GSG launched its office, the sixth of
its kind in Vietnam, in Can Tho to provide assistance in certification,
verification, inspection, and testing for enterprises in the Mekong Delta
region, especially seafood processing and export enterprises.-
The Mekong Delta region targets an economic growth of 10
percent in 2015, the same figure for this year, according to the Steering
Committee for the Southwestern Region.
Deputy head of the committee Nguyen Phong Quang said to
realise the goal, the region’s localities will invest nearly 250 trillion VND
(11.9 billion USD) to improve infrastructure facilities for socio-economic
development, with focus on road and waterway systems, sea, river and air
ports and irrigational network for agricultural production.
The region will speed up the implementation of key projects
such as the O Mon power plant, while cooperating with
Apart from developing aquaculture in coastal provinces, other
provinces such as Kien Giang, An Giang and Dong Thap will focus on production
of construction materials.
Can Tho city will promote its strength of heavy and hi-tech
industries, consumer goods for exports.
The region expects to earn 220 trillion VND (10.5 billion USD)
from the processing sector in 2015.
Besides, the Mekong Delta will boost vocational training along
with the upgrade of existing universities, establishing new colleges to
provide vocational training, while generating jobs for 400,000 workers.
The Mekong Delta comprises 12 provinces and a centrally-run
city with a total area of 40,000 km2 and a population of 18 million. It is
the country’s largest granary and a major aquaculture region.
Steel industry told to boost quality
Insiders and experts have said the sheet steel industry needs
to improve quality and bring down prices to combat fakes, which have become
pervasive.
Le The Bao, Chairman of the Vietnam Association for
Anti-counterfeiting and Trademark Protection (VATAP), told Viet Nam News that
counterfeits are a hot issue in the country, affecting every industry,
especially makers of sheet steel.
"Developing production" will help improve product
quality and cut down prices, enabling the industry to take on counterfeits,
something that "has been stressed by the Government," he said.
Companies should make cheaper products targeted at rural
consumers - a very big market - so that low-income people could buy genuine
products, he said. Le Phuoc Vu, Chairman of steel giant Hoa Sen Group, said
his company will make every effort to fight fakes. Along with improving
quality and reducing prices, it will also widen its distribution system,
doubling the number of branches around the country to 300 within three years,
he promised.
His company's branches will lend equipment to customers to
check products even when they do not buy from them. There will be programmes
to educate and inform people, and a hotline has been set up at 1800 1515 for
callers to inquire about real and fake steel sheets, he said.
Consumers must insist on a tax invoice if they want to join
hands with manufacturers to fight counterfeits, he said.
The Vietnam Steel Association (VSA) and some traders called
for using modern technology to imprint manufacturers' names and other
information on steel sheets, making it harder to fake them.
“The technology is very expensive, which will help curb the
fraud," a marketer who asked not to be named said.
On the sideline of a conference organised by the VSA, the
VATAP and the Vietnam Economic Times late last month, the Market Surveillance
Department reported that in the first 10 months of the year it detected and
seized 10,000 tonnes of fake steel sheets.
The conference also heard that market watch officials
routinely unearth fakes masquerading as well-known brands like Ton Hoa Sen,
VnsteelThang Long and Phuong Nam, seizing tens of thousands of tonnes of fake
sheets and other products whose quality do not match up to claims.
Nguyen Van Sua, VSA Deputy Chairman, said the counterfeits are
produced in
The fake sheets are flooding the market, causing much
heartburn to legitimate producers.
A Hoa Sen Group spokesperson told Viet Nam News that his
company's market share kept rising steadily until last year, but has fallen
this year from 40 percent to 37 percent.
He blamed it squarely on counterfeit products, adding they are
likely to cost the company 118 billion VND (5.6 million USD) in revenues this
year.
Government bond sale raises over 9.3 billion USD
The State Treasury has raised over 195 trillion VND (9.2
billion USD) through the selling of Government bonds since the beginning of
this year.
On December 11, the Hanoi Stock Exchange HNX sold a total of
2,185 billion VND (104 million USD) worth of government bonds with three and
five year terms.
The yields for the three- and five-year bonds were 5.2 and
6.05 percent, respectively, which were both higher by 0.2 percent than the
interest rates for those sold on December 4.
At the auction on December 4, the government bond fetched a
total of 2,650 billion VND (126 million USD) in three- and five-year term.
Vingroup begins construction of tallest building in Vietnam
Vingroup officially began construction of the tallest building
in
The 350-metre tall and 81-storey building is built on the bank
of the
The Vinhomes Central Park covers an area of 141,000 square
metres. It consists of functional spaces including hotels, apartments,
shopping centres, restaurants, bars and an observatory centre.
In particular, a five-star hotel with 450 rooms will spread
1,000 square metres and look out on a 360° view of the city. Vincom Centre
shopping mall covers a total area of 59,000 square metres. A large square and
a modern fountain system will connect the residential quarter with a green
park and
The Landmark 81 is expected to break other records such as the
highest observatory centre and apartment building in
Dragon fruit exports to
Dragon fruit of
The change of transportation from air to sea route leads to
the increase of dragon fruit imports from
With its strange appearance, the dragon fruit is served as a
favourite dessert in luxury hotels in
Seafood sector: Rays of sunlight in marketplace
The Vietnamese seafood sector has expanded its footprint in
the global marketplace, particularly live and frozen shrimp, much to the
chagrin of
While the traditional leading Asian market sales plummet as a
direct result of the EMS breakout earlier this year, the Vietnam seafood
sector is cashing in, having experienced strong growth in three key markets –
the RoK, EU and US – in the 10 months leading up to November.
The Ministry of Agricultural and Rural Development (MARD) in
turn is now forecasting that shrimp exports will reach US$3.6 billion in
2014, up from US$3.1 billion in 2013, an event barely fathomable at this time
last year.
As a perfect example, RoK imports of the country’s shrimp have
skyrocketed to over 150.2% of last year’s volume to 19,646 tonnes at the
expense of their counterparts in
The overall export value of shrimp to the RoK also vaulted to
an estimated 187.2% higher than last year to US$ 205.3 million, which is
principally attributable to the increased volume. Though in recent weeks the
price of shrimp has stabilized and all indications are that it is on the
uptick.
At present, the RoK remains the fifth largest shrimp
importer of
Apart from shrimp, exports of octopus and cuttlefish to the
RoK in the ten month period have also spiralled upwards to 131.5% of last
year’s corresponding figure and now comprise 35% of market share.
The RoK’s monthly import volume was somewhat erratic early on
in the year, swinging wildly 4%-8% from month-to-month. However in
recent weeks the vagaries have become less volatile and economists remain
relatively sanguine with a positive outlook in the near term.
In the fourth quarter of the year, economists are saying it is
becoming increasingly clear that exports will accelerate 5%-6% both on-month
and on-quarter, offering a good opportunity for local businesses to exploit.
However to take full advantage of the opportunity Vu Van Tam,
MARD deputy minister says Vietnam needs to reduce its dependence on imported
shrimp brood stock to lower the production costs of farmed shrimp and become
more price competitive.
Vietnamese shrimp hatcheries need 180,000 white shrimp brood
stock a year, which they import from the
Currently, Vietnam imports 20% of its giant tiger shrimp
(Penaeus monodon) brood stock and 100% of its white shrimp (P. vannamei)
brood stock Tam says, adding that localities in Vietnam are often short of
materials, forcing them to import from other nations as well, which
negatively affects price competitiveness.
A prominent representative from a local exporter says local
exporters also are forced to pay higher costs for other supplies and
materials, which adds to higher overall costs. This year he says,
Developing a niche in the global cuttlefish and octopus
markets is a troublesome proposition that requires careful planning and
finesse, highly dependent on a well thought out and implemented strategy, say
most leading market analysts.
They caution
Experts postulate there is sunlight on the horizon for a
sustainable seafood sector if
Young people build career in AEC 2015
A forum focusing on how young people build career in ASEAN
Economic Community (AEC) 2015 took place in
The event draws the participation of former Deputy Prime
Minister Vu Khoan, Vice President of the Vietnam Young Entrepreneurs
Association (VYEA) Cao Hoai Duong and CEOs of some companies.
They shared with young people opportunities and challenges
after the ASEAN Economic Community is formed in 2015.
So the young Vietnamese should be fully prepared for the
process of integration.
The speakers suggested ways for young Vietnamese to
successfully build their career and do business after the establishment of
AEC.
Seafood exports estimated to earn US$7.7 bln in 2014
The figure accounts for 6-7% of the country’s total export
value and shows a year-on-year increase of 18%.
Currently,
However, Vietnamese seafood exporters should ensure their
products are of good-quality to sharpen their competitive edge to meet
international standards, he noted.
Garment export turnover to top $24 billion this year
With this result, the garment and textile sector will bring in
a trade surplus of $12 billion this year, according to the Viet Nam Textile
and Apparel Association (VITAS).
The Ministry of Industry and Trade (MoIT) reported that the
sector earned $19.18 billion from exports in the 11-month period, increasing
18 per cent against the corresponding period last year. Exports of fibre rose
19 per cent to $2.3 billion.
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
per cent.
A report from the MoIT showed that in the January-November
period, cotton production from natural fibre reached around 300 million sq.m,
posting a 15.8 per cent year-on-year increase.
Cotton production from synthetic fibre was estimated at 666
million sq.m, rising 5.6 per cent over the same period last year.
Last month alone, the cotton production from natural fibre was
28.7 million sq.m, representing a 15 per cent month-on-month rise, while that
from synthetic fibre rose 12 per cent in comparison with the previous month
to 60 million sq.m.
Le Tien Truong, General Director of the Viet Nam 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 per cent of domestic demand.
He emphasised the need to build a trademark for
Besides, domestic garment and textile businesses have also
searched for other material suppliers from ASEAN countries, particularly
It said the search for new material suppliers will also help
businesses take advantage of the Trans-Pacific Partnership agreement.
DATC to get $146m infusion for tackling SOE bad debts
Prime Minister Nguyen Tan Dung has agreed to give an
additional VND3.1 trillion, or roughly US$146 million, to the Debt and Asset
Trading Corporation (DATC) for the 2014-15 period.
According to business news website Gafin, VND2.5 trillion or
$117 million of the additional funds for the DATC's charter capital will come
from the fund for enterprises arrangement and development, and VND600 billion
or $28 million from other sources.
The finance ministry is responsible for arranging the
financial resources for the DATC.
Established in 2004 with a charter capital of VND2 trillion
($94 million), funded by the State budget, the DATC was recognised as a
special State-run company. It aims to deal with bad debts and unused assets
of State-owned groups and corporations to improve their financial condition,
promote restructuring and transform them into joint-stock companies.
According to the finance ministry's regulation, the DATC has
to use at least 70 per cent of the total investment capital to purchase debts
and assets of companies with 100 per cent State-invested capital.
The HCM City-based Phu Cuong Corporation has unveiled plans to
invest US$436 million in building a 170MW wind power plant in the Mekong
Speaking on the sidelines of a wind-power conference held by
the Swedish consulate in
Initially 15 turbines with a total capacity of 30MW will be
built in the coastal town of
He said Phu Cuong Group has plans to build wind power plants
with a total capacity of 800MW.
At the conference, Vestas Wind Systems, a Danish company
producing wind power equipment and parts, signed an agreement to supply
equipment for the Vinh Chau plant.
A master plan for the development of wind power in Soc Trang
has been approved by the Ministry of Industry and Trade, and the provincial
People's Committee has issued a licence for Phu Cuong's project, Dau Tu
(Vietnam Investment Review) newspaper reported. According to the ministry's
General Department of Energy, nearly 50 wind power plants with a total
capacity of 4,876MW have been licensed in the last three years. However, just
three plants are up and running so far.
Exports to
Among the key Vietnamese exports to
Also, from January to November
According to the ministry,
Italian companies remain interested in
These firms were also seeking new partners in
Meanwhile, Deputy Head of the ministry's Trade Promotion
Agency, Ta Hoang Linh, said over the past three years many delegations from
Italian businesses had visited
Of note, trade experts forecast that the
Post harvest losses of rice in the Mekong Delta appropriate
13.7 percent, equivalent to 20 million tons or US$635,000 a year, revealed
scientists at a seminar in Can Tho City on Friday.
Despite of considerable advances in preservation technologies,
the loss rate is still high in most post harvest stages, they said.
Of these, cleaning and drying loss as much as 4.2 percent,
milling 3 percent, and preserving 2.6 percent.
Rice milling plants are short of capital to equip driers and
advanced milling machines, and build storehouses.
The government should provide capital or interest rate
assistances so that local farmers and businesses can buy machines for post
harvest processing of rice, they proposed.
SOE listings draw more investors
Recent initial public offerings (IPOs) of State-owned
enterprises (SOEs) have attracted more attention from investors than
previously.
The latest IPO was from seafood processor Seaprodex, which
sold over 45 million shares with an average price of VND10,100 (US$0.47)
yesterday. This volume accounted for 75 per cent of the total offering, which
was purchased by 55 investors.
The State now holds 63 per cent after the IPO.
On Thursday, Ca Mau Fertiliser had a successful initial
offering, selling all of its shares to nearly 1,200 investors and earning
VND1.58 trillion ($74.2 million).
A day earlier, Union of Survey Companies Ltd also sold 100 per
cent of its IPO to 24 individual investors.
Other recently concluded IPOs included Ben Thanh Tourist and
Sai Gon Ground Services.
However, the buyers of the IPOs were mainly domestic
investors.
Nguyen Tuan Hai, CEO of private equity firm Alphanam, told Dau
tu chung khoan (Securities Investment) that the asset portfolios of these
SOEs made them appealing to investors, especially since they possess land use
licences in major cities.
In particular, Ben Thanh Tourist owns two major hotels in the
busy and crowded
Can Gio Tourist, with 11.5 million shares sold by
Saigontourist on Wednesday, has one of
Meanwhile, there have been a few companies operating in the
ground service sector. Therefore, investing in businesses such as Sai Gon
Ground Services will generate both short – and long-term profits.
In the first six months of this year, the company's revenue
and profit reached VND237 billion ($11.12 million) and VND43 billion ($2
million), respectively.
Nearly 400 more SOEs are scheduled to be equitised by the end
of next year, which is expected to create many more investment opportunities.
Banks launch promotions for money transfer services
Local banks have put on multiple promotional programs for
their money transfer services in the lead up to the traditional Lunar New
Year holiday.
Incoming remittances normally grow prior to the Lunar New Year
holiday, or Tet, so banks have adopted new measures to benefit from this
market movement.
Vietcombank is among the banks through which US$1 billion is
remitted home a year. This year, the bank has deployed a promotion program
for recipients of remittances via MoneyGram, UniTeller and TNMonex services.
Meanwhile, Saigon Commercial Bank (SCB) has begun a promotion
program for clients using
Le Duc Tho, general director of VietinBank, said the bank has
repeatedly improved remittance and payment services to raise its
competitiveness. “We have a global money transfer service firm to facilitate
services in
Currently, banks are handling remittances from important markets
such as the
The central bank’s HCMC branch estimated remittances via local
commercial banks and economic organizations in the city at US$4.4 billion in
the January-November period and over US$5 billion this year.
Meanwhile, the World Bank (WB) projected Vietnam would remain
in the list of the world’s top 10 remittance recipients with over US$12
billion this year, rising 10% against 2013. Researchers of the Bank for Investment
and Development of Vietnam (BIDV) also predicted this year’s remittances
could reach US$12 billion.
Nguyen Duc Kien, vice chairman of the National Assembly
Economic Committee, said there have been many policies issued to support more
remittances to flow into
Macro-economic stability and low inflation have facilitated
the central bank to keep the
Banks have also launched promotion programs for money
recipients and improve remittance services, Kien said.
According to the central bank, remittances into
Steel industry told to boost quality
Insiders and experts have said the sheet steel industry needs
to improve quality and bring down prices to combat fakes, which have become
pervasive.
Le The Bao, chairman of the Viet Nam Association for
Anti-counterfeiting and Trademark Protection (VATAP), told Viet Nam News that
counterfeits were a hot issue in the country, affecting every industry,
especially makers of sheet steel.
"Developing production" would help improve product
quality and cut down prices, enabling the industry to take on counterfeits,
something that "has been stressed by the Government," he said.
Companies should make cheaper products targeted at rural
consumers - a very big market - so that low-income people could buy genuine
products, he said.
Le Phuoc Vu, chairman of steel giant Hoa Sen Group, said his
company would make every effort to fight fakes. Along with improving quality
and reducing prices, it would also widen its distribution system, doubling
the number of branches around the country to 300 within three years, he
promised.
His company's branches would lend equipment to customers to
check products even when they do not buy from them. There would be programmes
to educate and inform people, and a hotline had been set up at 1800 1515 for
callers to inquire about real and fake steel sheets, he said.
Consumers must insist on a tax invoice if they want to join
hands with manufacturers to fight counterfeits, he said.
The Viet Nam Steel Association (VSA) and some traders called
for using modern technology to imprint manufacturers' names and other
information on steel sheets, making it harder to fake them.
"The technology is very expensive, which will help curb
the fraud," a marketer who asked not to be named said.
On the sidelide of a conference organised by VSA, VATAP and
the Vietnam Economic Times late last month, the Market Surveillance
Department reported that in the first 10 months of the year it detected and
seized 10,000 tonnes of fake steel sheets.
The conference also heard that market watch officials
routinely unearth fakes masquerading as well-know brands like Ton Hoa Sen,
Vnsteel Thang Long and Phuong Nam, seizing tens of thousands of tonnes of
fake sheets and other products whose quality do not match up to claims.
Nguyen Van Sua, VSA deputy chairman, said the counterfeits
were produced in
The fake sheets are flooding the market, causing much
heartburn to legitimate producers.
A Hoa Sen Group spokesperson told Viet Nam News that his
company's market share kept rising steadily until last year, but has fallen
this year from 40 per cent to 37 per cent.
He blamed it squarely on counterfeit products, adding they are
likely to cost the company VND118 billion (US$5.6 million) in revenues this
year.
A Phuong Nam Steel Sheet Company Ltd executive told Viet Nam
News without disclosing numbers that his company had been affected by the
fake products.
The problem was becoming trickier since it is not easy for
consumers to recognise them, he said.
A journalist in Ha Noi who asked not to be named said he
bought steel sheets for his roof three years ago and they had rusted.
They were purportedly made by a famous local company — he had
seen the brand name on the sheets and the seller, a local retailer, had also
assured him.
But he later discovered they were fake when the company tested
them.
And if an educated, aware person like him can be taken in,
what chance do farmers and other rural people have?
Viet Nam News asked some experts working for sheet steel manufacturers
about this. They said the fakes are usually thicker and poorly plated as a
result of which they last no more than two or three years compared to the
dozens of years that quality sheets last.
Microfinancing needs improvements: experts
Experts urged increased transparency and an improved legal
framework to allow poor and low-income earners to have access to financial
services.
At a seminar on Thursday, experts said microfinancing
services, created in the 1980s, increased accessibility of financial services
to poor and low-income earners, which brought economic benefits to millions
of households and contributed to the country's reduction in poverty.
However, there remains a need to improve the efficiency of
microfinancing to assure the nation's sustainable development.
According to Pham Huyen Anh, Director of the Banking Operation
Policy Security Department under the State Bank of
However, several rules regulating microfinancing operations
were proved inappropriate and there was a lack of consistency among existing
regulations, Anh noted.
The operation of microfinancing institutions has remained at a
busy level, with loaning as a major activity, while other basic
microfinancing services, such as pensions, money transfers and insurance,
have not been developed.
Anh said the legal framework for providing microfinancing must
be improved to enhance the financial and management capacities, as well as
its transparency, adding that the operation of microfinancing institutions
should be associated with the operation of other credit institutions.
Microfinancing expert Nguyen Manh Cuong said many requirements
about microfinancing operations should be loosened, such as a minimum
solvency ratio of 20 per cent, which he said was too high.
Also, experts have called for tax incentives to be provided to
microfinancing operations, together with policies to encourage insurance
companies to join with microfinancing institutions to bring insurance
services to the poor.
The establishment of a microfinancing association was also
essential, experts said.
As of the end of September, three of the country's
microfinancing institutions had a combined equity of VND238.9 billion (US$11.2
million) with total deposits of VND439.2 billion ($20.7 million) and
outstanding loans of VND787 billion ($37.1 million).
Notably, the ratio of bad debts of microfinancing institutions
was very low, at 0.01 per cent, or VND75.2 million ($3,540).
Techcombank wins STP Award
Vietnam Technological and Commercial Joint Stock Bank,
commonly known as Techcombank, has won the Straight-Through- Processing (STP)
Award by Citibank for its advanced payment capabilities.
The STP Award is granted to banks with high quality of payment
services based on straight- through processing (STP) rate, an important
indicator for accuracy and automation of payment messages. With a high STP
rate, Techcombank is able to provide timely and accurate payment services, at
the same time, save time and costs for the bank and its clients. The award
also confirms advanced IT infrastructure and excellent capabilities of
operations staff at Techcombank.
Speaking at the award ceremony, Techcombank’s Head of
Financial Institutions Do Diem Hong emphasised: “We would like to thank
Citibank for all your support during the years. With over 20 years operating
in
Apart from Citibank, many other international banks like Bank
of New York Mellon, Wells Fargo, Standard Chartered Bank, HSBC and JP Morgan
Chase have also recognised and granted international payment awards to
Techcombank for a number of years in a row. The STP Award from Citibank is
the 17th award that Techcombank has received from many different institutions
in 2014.
Masan Consumer Holdings, a wholly-owned subsidiary of Masan
Group, which is one of
The 10-year bond transaction is something of a rarity for a
Vietnamese private sector company. At the total amount of VND2.1 trillion
($100 million) and a fixed rate coupon of 8 per cent per annum for the entire
tenure of the bonds, the transaction would be both the largest and lowest
coupon issuance attributed to a 10-year deal in the Vietnamese private-sector
corporate bond market.
Such terms reflect the long-term nature of Masan Consumer
Holdings’ commitment to consumer-related businesses and its strong business
platform. This transaction has also introduced a new, longer maturity asset
class into the market, making it an attractive investment instrument for
insurance companies to diversify their assets into non-sovereign holdings.
The deal was fully subscribed by financial companies, primarily global
insurance companies with operations in
The bonds are guaranteed by the Asian Development Bank’s (ADB)
credit guarantee and investment facility (CGIF) trust fund.
This is the first bond in
As a key component of the Asian Bond Market Initiative of
these governments, CGIF is committed to mobilising
“As CGIF’s first transaction in Vietnam, this marks another
milestone in our journey of supporting the development of local currency bond
markets in the ASEAN+3 region by backing strong national champions. In that
context, we are glad to partner with Masan Consumer Holdings, which has
successfully built winning consumer businesses in
Masan Consumer Holdings is Masan Group’s main vehicle for
consumer-focused businesses. The proceeds of the bond will be reinvested in
consumer-focused businesses. Standard Chartered Bank acted as the issuer’s
agent in this transaction, while Societe Generale Corporate and Investment
Bank acted as the international advisor, with local Techcombank Securities
acting as the agent for the bonds.
Growers optimistic for the new year
As Tet nears, peach and kumquat trees growers in
According to many garden owners, the this year's sunny weather
helped their flower buds to bloom in time. They also expect customers to have
more spending money this year due to a recovering economy.
Aside from well-known traditional flower villages such as Nhat
Tan, Quang Ba and Nghi Tam,
A one-metre-height tree will cost about VND500,000 (USD24) and
a shaped tree may be anywhere from VND700,000 to VND1.5 million depending on
its height.
Dang Van Manh, owner of a flower garden in
Last year was also a harsh year for kumquat growers. Long and
heavy rains killed off a large number of kumquat trees and caused huge losses
to owners.
Even though the flowers will bloom sooner than normal, the
growers said they were not worried much because Tet would start sooner this
year.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Hai, 15 tháng 12, 2014
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