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BUSINESS IN BRIEF 2/12
EuroCham
releases White Book on Vietnam trade, investment
The
European Union is committed to providing 400 million EUR for
The
launch of the book, the seventh edition of its kind, is the end result of
work conducted over the course of the year by the European Chamber of
Commerce in Vietnam (EuroCham) and its members, to identify investment and
trade issues affecting Vietnamese business climate and give recommendations.
The
content of the book covers a number of major industries that EuroCham’s
almost 800 members operate in, including agricultural business and food safety,
banking and finance, fast-moving consumer goods, information technology,
tourism and hospitality.
The book
remarked that the EU is the second largest trade partner of
Over the
last 12 months, EuroCham has observed and welcomed effort and reforms that
have been initiated by the Vietnamese government, yet there is more to be
done to both secure the achievements and realise further investment and trade
in the market, its press release said.
The
2014-2015 World Economic Forum (WEF) report showed that
Heavy
investment poured into Dung Quat EZ
Three
additional projects are expected to receive investment license to operate in
Dung Quat Economic Zone (EZ) in central Quang Ngai province at the end of
this year, with a total capitalization of more than VND4,000 billion.
Since
the beginning of this year, the Quang Ngai provincial People’s Committee has
licensed 10 new investment projects in Dung Quat EZ, with a combined
registered capital of over VND1,000 billion.
Vice
Chairman of the Quang Ngai provincial People’s Committee Pham Nhu So, who is
also Head of the Dung Quat EZ management board, said nine investors with a
total investment capitalization of US$130 million have registered to operate
in VShip urban and industrial complex of Dung Quat EZ.
Three of
these investors will complete building infrastructure by the year-end to
start operation early 2015. They are the URC Central beverage from the
Vietnam
Expo 2014, Inter Cycle Vietnam and Turkish Products Expo will take place in
A
representative from the Vietnam National Trade Fair and Advertising Company
(VINEXAD) said at a press briefing in
Particularly,
among foreign participants,
Tseng
Hsien Chao, Director of the Commercial Division, Taipei Economic and Cultural
Office based in
Inter
Cycle Vietnam held in the framework of Vietnam Expo attracts great attention
from bike manufacturing and trading businesses, including renowned brand
names like Vietbike, Thong Nhat, Shuaigete, Sune Electric, Fonix and others
The
Turkish Products expo in
More
than 50 Turkish businesses and economic groups will introduce a wide range of
products and services, such as machines and chemical, industrial and
agricultural products, souvenirs, electrical equipment, electronic products,
construction materials, automobiles, food and drinks and plastic ware.
Nearly
25 million households access social policy bank loans
The
Vietnam Bank for Social Policies (VBSP) has provided preferential loans for
around 24.8 million poor and near-poor families, allowing 3.2 million of them
to escape from poverty.
A report
on the bank’s nearly-12-year operation showed that it had a total credit
balance worth 126.8 trillion VND (6 billion USD) by the end of October 2014.
Its annual growth rate hits 29.4 percent on average in the reviewed period.
In its
Instruction 40-CT/TW on enhancing the Party’s leadership over social
policy-benefiting credits, the Party Secretariat requested enhancing the
VBSP’s capacity and operation efficiency as the credits it offered have yet
met actual needs.
Despite
great achievements made during more than 20 years of renewal,
Statistics
show that the country’s annual per capita income in 2013 reached 2,960 USD,
equivalent to 3.5 percent, 7.3 percent and 18.6 percent of the figures of
Last
year, nearly 1.8 million poor households and almost 1.4 million near-poor
families were recorded in the country, requiring greater efforts in
eradicating hunger, reducing poverty, and improving living standard for
people.-
The
largest French-language TV channel in
The report
recalled that Wallonia Export & Investment Agency (Awex)’s office in
The relations
have expanded over time, the report said, highlighting a project in the
medical sector under which the University of Liège ( ULg ) and the Ho Chi
Minh City University of Medicine and Pharmacy had worked closely to train
family doctors in Vietnam, boosting health care services in rural areas and
reducing the burden of major hospitals.
In the
field of economic ties, the TV footage cited the example of Sopura, a world
leading provider of cleaning and disinfection solutions in the beverage and
food industries, which has just invested a million EUR to build its plant in
Jean-Claude
Marcourt, Minister of Economy and Foreign Affairs of Wallonia, encouraged
investors to do business in the Southeast Asian nation due to its growth
potential, abundant and low-cost human resources.
The TV
report said
Ministries
shake hands in macro-economic management
Representatives
of the Ministry of Planning and Investment, the Ministry of Finance, the
Ministry of Industry and Trade and the State Bank of
The
signing ceremony was witnessed by PM Nguyen Tan Dung and the Cabinet.
The
regulation paves the way for the ministries to implement assigned tasks
detailed in the PM’s Decision 1317/QD-TTg, dated August 6, 2013 approving
scheme on reforming the coordinating mechanism in managing and controlling
the macro-economy, especially for the policies of finance, monetary, credit,
investment, trade and prices.
On March
24, 2011, the PM instructed the Ministry of Planning and Investment to work
with the Office of the Government and relevant ministries to compose a
project on institutional reform and strengthening coordination in
macro-economic management and regulation for the 2011-2020 period.
Tra
fish diseases reported in delta
Diseases
on tra fish in the year to date have been found in four Mekong Delta
provinces of An Giang, Dong Thap, Vinh Long and Hau Giang with the affected
area of 730 hectares, making up 12% of the total tra fish farming area.
According
to the Ministry of Agriculture and Rural Development, one of the main reasons
behind the disease outbreak is the lack of funding for taking prevention
measures. Besides, poor treatment of the water environment has also led to
the spread of the diseases.
Van
Thanh, a tra fish farmer in
The
outbreaks are feared to adversely affect
The
agriculture ministry said some major importers have applied many rules and
barriers on
To cope
with the situation, the ministry has issued a master plan on prevention and
control of diseases on tra fish in the 2015-2020 period, aiming to conduct
disease surveillance and control the use of antibiotics and vaccines in
production facilities with funding from State and provincial budget.
Many
luxury car purchase deals signed at motor show
Many
visitors clinched contracts to buy luxury cars at a recent automobile
exhibition taking place at the Saigon Exhibition and
Participating
auto companies shared the better-than-expected sales with the Daily several
days after the Vietnam Motor Show 2014 ended over the weekend.
Euro
Auto, the authorized importer of BMW and MINI in
Euro
Auto attracted more buyers thanks to its promotional programs and supportive
policies, including free maintenance service and gifts.
In
previous events, Audi
Meanwhile,
According
to the organizers, exhibitors struck over 560 car purchase contracts at the
motor show this year, or 2.5 times higher than last year.
In fact,
some participating enterprises did not announce their car sales. For
instance,
The
organizers said 18 automobile companies and over 100 supporting exhibitors
occupied booths on a total area of 12,000 square meters at the Vietnam Motor
Show 2014.
The
five-day show, which ended last Sunday, was aimed to help enterprises speed
up sales and introduce new products to customers. The show attracted nearly
162,000 visitors, which were higher than 150,000 the organizers estimated
before the event kicked off.
The
Vietnam Motor Show 2014 was co-organized by the Vietnam Automobile
Manufacturers Association (VAMA), authorized car importers in Vietnam, CIS
Vietnam Company and Le Bros Company.
Experts
pinpoint
They
raised the point at the seminar held to review a report on
VEPR
director Nguyen Duc Thanh said
Quoting
the 2014 Index of Economic Freedom report of the foundation, Thanh said the
score is 0.2 point worse than last year, reflecting declines in freedom from
corruption, monetary freedom, and business freedom that outweigh improvements
in labor freedom and fiscal freedom.
Between
1997 and 2006,
“Over
the past years,
Thanh
pointed out many factors that have gone against the progress such as State
budget overspending, rising public debts, the fast expansion of State-run
commercial banks and high expenditure, among others. Moreover,
Economic
expert Pham Chi Lan questioned the status of
She said
Huynh
The Du, a lecturer of the Fulbright Economics Teaching Program, said
Equitization
of State-owned enterprises (SOEs) is on a tough path and it seems that SOE
leaders have been granted more power while State-run banks are taking the
upper hand of the sector, Du said.
To help
In
addition, the Government needs to protect legitimate properties of citizens
and businesses, issue reasonable land management policies and streamline
administrative apparatus to reduce regular spending and public investments.
Vietjet
considers going public
The
private carrier Vietjet is planning to conduct an IPO that will allow it to
enhance competitiveness and further expand its international network.
Luu Duc
Khanh, managing director of Vietjet, revealed last week in
“The IPO
is a major step in our development strategy, and a pivotal part of our plan
to form an international aviation alliance,” said Khanh.
Vietjet
will be the second airline to implement an IPO in
“The
equitisation of Vietnam Airlines is certainly a positive sign of a healthy,
open, and transparent aviation market, and it is also a progressive step
against monopolisation. Once an investing system is established and the
market is operational, investors and customers will be the ultimate
beneficiaries,” Khanh said.
With its
current fleet of 18 Airbus A320 aircraft, Vietjet now operates 150 flights
per day, and has transported eight million passengers in total to date. The
airline covers 28 local and international routes across the country and the
region.
After
three years in operation, Vietjet has rapidly grown and according to the
Centre for Aviation – a leading provider of independent aviation market
intelligence – Vietjet now holds a 31 per cent market share.
Khanh
said Vietjet was not only expanding locally but also internationally.
“Vietjet
has fully covered
In order
to expand its international network, Vietjet must first expand its fleet.
According to Vietjet, the delivery of the first Airbus A320 aircraft last
week “marked a major milestone in the development of Vietjet”.
“Receiving
this plane highlights how far we have come in three years of operations but
it also marks the beginning of the next phase of our development,” said
Khanh. “With a solid business plan and a strong fleet, we can better control
operational costs and offer even better fares and more flying opportunities
to our customers so everyone can ‘Enjoy Flying’.”
The
carrier revealed that it will receive two or three planes from Airbus this
year, and from 2015 onwards Airbus will deliver 6 to 12 planes annually until
the order of 100 planes is complete.
John
Leahy, CEO in charge of customers at Airbus claimed that the delivery of the
first plane in the deal “signals the start of an exciting expansion plan that
will see the carrier acquire up to 100 new A320 Family aircraft in the coming
years.”
“Vietjet
is a rising star in the Southeast Asian low cost market,” said Leahy.
Over
800 promotions for ‘Black Friday’
More
than 750 e-commerce enterprises have registered over 800 promotion programs
for the Online Shopping Day 2014 slated to take place next Friday, the
organizers of the event have announced.
Le Duc
Anh, a representative of the organizing board, said the organizers are
selecting appropriate promotion programs for the Online Shopping Day, which
will be operated like the ‘Black Friday’ in the
Customers
will have chances of winning various prizes when they shop at
www.onlinefriday.vn from next week.
Nguyen
Thanh Hung, general secretary of the
The
organizers expect that 10 million out of the 50 million people will join the
Online Shopping Day this year.
Customers
shopping at the websites for the Online Shopping Day will get free delivery
of the products they buy. Promotions during the day will only apply to those
orders made online.
The
Enterprises
in HCMC have diversified their import sources to reduce heavy reliance on
imports from
During
the period, the volume of goods imported from
Material
imports from Taiwan and South Korea have grown by 7.1% and 54% in terms of
volume while shipments from China have tumbled by 46.5%, said Tran Thi Binh
Minh, deputy director of the department, at a meeting on November 27 on the
city’s socio-economic situation in the 11-month period.
The
city’s import spending has increased by 8.7% year-on-year to nearly US$33.5
billion in the period with major imported products being chemicals,
pharmaceutical products, plastic, and apparel and leather-shoe materials.
Its
export revenue has grown 9.9% year-on-year to US$31.2 billion.
Export
sales of the city to
Last
year,
In May,
given the tension in the
In
response, city enterprises said they would have solutions to reduce their
dependence on
HCMC
Chairman Le Hoang Quan told the meeting yesterday that the city will take
pains to achieve the new target of 9.7% for gross domestic product (GDP)
growth this year instead of the previous goal of 9.5%.
In the
rest of this year, the city authorities will check prices of services such as
transport charges and prices goods at markets after fuel prices have fallen
continuously since the year’s beginning.
Siemens
Siemens
Vietnam, part of German engineering conglomerate Siemens AG, recently signed
a Memorandum of Understanding (MoU) with local partner Bitexco group in
Accordingly,
the two sides managed to promote their existing relationship in building
technology and energy management, power generation and distribution, and keep
each other updated with the upcoming projects to seek mutual cooperation
opportunities, striving for building sustainable infrastructure in
Besides,
Siemens will support Bitexco some free training programmes on building
management systems for
“Siemens
and Bitexco are contented with our effective cooperation so far. But the
relationship has not yet been proportionate with the actual potential, which
is the reason of the signing ceremony today. The signing of this MOU marks a
significant step in our mutual relations,” said Armin Bruck, CEO of Siemens
ASEAN.
Siemens
Vietnam CEO Pham Thai Lai emphasised, “Based on many similarities in business
philosophy and that both Bitexco group and Siemens are pioneers in their
field, Siemens with the working experience in 190 countries around the world,
is likely to accompany with Bitexco for successful implementation of upcoming
projects.”
Lotte
Mart opens ninth supermarket
The
US$29-million Lotte Mart Vung Tau in Ba Ria-Vung Tau Province covers a total
area of more than 30,000 square meters and is expected to generate monthly
sales of VND55 billion (around US$2.57 million).
Lotte
Mart Vung Tau encompasses shops selling fashion and jewelry items and food
brands like Lotteria, KFC, BreadTalk, Mochido, The Blues, Diamond World, PNJ,
SJC as well as a cinema and other recreational facilities.
On this
occasion, customers with bills worth VND300,000 or more at Lotte Mart Vung
Tau are eligible to join a lucky draw to win prizes worth a combined US$248
million.
On
December 1-4, holders of Lotte Mart membership cards will be allowed to buy
many products at special prices.
Lotte
Mart plans to inaugurate one supermarket in HCMC’s Tan Binh District later
this year.
Host
of foreign retailers set up shop
Central
Group,
Marketing
executive Huynh Hong Hai told VIR that the company would continue to expand
Robins department stores in
The Thai
retailer officially set foot in
According
to Hai, Central Group is looking for local partners in
In July
this year, under a franchise operated by the Central Group, Iconic British
retailer Marks & Spencer entered the Vietnamese market with a new
flagship store in
Tos Chirativat,
CEO of Central Group, said that with 90 million residents and growing middle
class,
In a
similar move, last week, South Korean retailer Lotte Mart continued its
assertive push into
Lotte
currently operates eight shopping centres – two in
By
entering the market early, the company believes that it will be able to
select the best strategic locations in
Many
laws lack consistent guidelines, says NA deputy
National
Assembly (NA) deputy Vu Tien Loc proposed three principles for the revised
Law on Promulgation of Legal Documents at the NA session yesterday so as to
ensure consistency between laws and legal guidelines.
The
draft law has not included effective measures to make laws and circulars
consistent, said Loc, who is also president of the Vietnam Chamber of
Commerce and Industry (VCCI).
Therefore,
Loc suggested three principles to safeguard such consistency.
Legal
documents issued by ministries or below must not limit the rights or impose
more obligations on organizations and individuals compared to documents of
higher-level bodies.
Only
legal documents issued by the Government or equivalent bodies should have
guiding documents, and lower-ranking bodies that fail to provide guidelines
in a timely manner will be subject to penalties.
According
to Loc, ministries and management agencies are the ones proposing and
drafting laws and issuing guiding documents. There is a fact that many
policies tend to make it easy for management agencies and make it harder for
those governed by such legal documents, but there is no mechanism to curtail
ramifications of this issue.
“Therefore,
I expect the draft law to have new regulations to limit the authority of
ministries, agencies and localities in issuing legal documents to ensure the
legislative integrity of the NA and the Government’s power in the issuance of
guiding documents,” he said.
According
to Loc, in eight years implementing the law, it has been found out that many
laws are promulgated but guiding documents are not issued when the laws
become effective.
Citizens
and enterprises have to wait for the issuance of guiding circulars and
decrees. Many civil servants refuse to perform procedures in the absence of
guiding documents.
Bauxite
project short of payment for environmental remedy
Although
Tan Rai bauxite project in the Central Highlands
According
to the Ministry of Natural Resources and Environment, after completing
procedures on environmental impact assessment, Vinacomin has been told to
make deposits for environmental restoration with the total sum of VND187
billion.
However,
as of the first half of this year, the amount paid by the corporation just
reached VND29 billion, or 16% of the total liable.
Previously,
a large amount of red mud discharged from the ore cleaning process in the
bauxite project submerged a road due to a broken embankment of its reservoir.
The Government reprimanded the project owner as the incident affected the
environment.
Since
its establishment in 2013, the aluminum consumption of Lam Dong Aluminum Co.
Ltd. has been increasingly favorable. The firm produced 214,000 tons of
aluminum and exported 160,000 tons in 2013, but its tax payment was VND93
billion only, accounting for 26.2% of the expected amount of VND430 billion a
year.
In
January-August period of this year, the alumina plant turned out 307,000 tons
of aluminum and shipped 305,000 tons abroad at an FOB price of US$320-340 per
ton.
GSO:
Business confidence improves
The
increases in numbers of newly-established firms and enterprises back to
operations this month reflect an improvement in the confidence of the business
community in the country’s economic recovery and business environment,
according to the General Statistics Office (GSO).
Figures
of GSO showed there are more than 7,760 new business startups in November
with a combined registered capital of VND38.8 trillion, rising by 13.7% in
number and 20.8% in capital compared to October.
The
average registered capital of a new enterprise is VND5 billion, up 6.3%
against October. Notably, those new companies have recruited a total of
108,800 employees, up 23.7% over last month.
In the
January-November period, 67,790 new enterprises have reported a total
registered capital of VND391.3 trillion, falling by 4.5% in number but rising
by 8.9% in registered capital compared to the same period last year. The
registered capital of these newcomers in the period is VND5.8 billion per
enterprise, increasing by 14% over a year ago.
The new
enterprises in the first 11 months of this year have employed 992,000 people,
a slight rise of 1.9% compared to the same period last year.
The
GSO’s data indicated since early this month, 1,205 enterprises have resumed
operations after temporary shutdown, a rise of 6.5% against October. The
figure in the January-November period has grown 11.8% year-on-year to 14,208
enterprises.
In the
11-month period, 20,800 firms have adjusted up their registered capital by a
combined VND544.7 trillion.
Based on
the rises in the numbers of new enterprises and registered capital, GSO said
the business environment has improved, lifting the confidence of companies in
the country’s outlook.
GSO
noted that there remain a number of economic difficulties in January-November
when 60,340 enterprises have halted operations or been dissolved, a
year-on-year increase of 9.8%.
However,
November sees a month-on-month decrease in the number of companies stopping
operations or going dissolved. The number this month is 7,033, down 1.5%
compared to October.
GSO
regarded economic challenges as a test to the ability of enterprises to
weather tough times and find new business opportunities.
In the
processing and manufacturing industry, there has been a 2.7% rise in the
number of new players but an 8.6% increase in those withdrawing from the
market in the January-November period.
The
respective proportions are 29.3% and 1.2% for real estate; 30.2% and 6.7% for
agro-forestry-fisheries; 4.9% and 17.7% for electricity, water and gas
distribution and production; 2.36% and 9% for finance, banking and insurance,
and10.5% and 17.5% for transport and warehouse.
Retail,
car and motorbike repair sectors have still coped with a host of difficulties
in the first 11 months when the number of new enterprises is down 13.8% but
those going dissolved are up 12.7% year-on-year.
The
respective percentages are 0.6% and 9.3% for accommodation and dining; 0.8%
and 19.6% for mining; 3.2% and 9.5% for consultancy, design and
advertisement; and 6% and 7.7% for construction.
To deal
with challenges ahead, enterprises need more supportive policies and measures
from the Government and relevant agencies, according to the GSO said in its
report.
Cholimex
Foods shares not for Masan
Cholon
Investment and Import-Export Company (Cholimex) and Nichirei Foods Inc. have
stated that they will not sell their stake at Cholimex Foods Company to Masan
Food Company.
Cholimex
and Nichirei, which own a combined 60% stake in Cholimex Foods, made the
joint statement about two weeks after Masan Food offered to buy a 49% stake
in Cholimex Foods. The two major shareholders said they will not sell part or
their entire stake to Masan Food.
In early
November, Masan Food said it wanted to acquire over 3.9 million shares of
Cholimex Foods between November 28 and December 29 to become a major
shareholder of the enterprise. However,
With the
offered price of VND90,000 a share, over 3.9 shares of Cholimex Foods are
worth more than VND357 billion, which is four times higher than the chartered
capital of Cholimex Foods.
Currently,
both Cholimex Foods and Masan Food are major players in the country’s chili
sauce sector.
Property
awards aim to encourage housing market
Vietnam
Television's VTV9 channel has instituted the 2015 Vietnam Excellent Property
Awards aimed at promoting growth of the housing market.
Outstanding
companies will be conferred the awards based on what customers say and
assessment of their capacity and performance by a jury of industrial experts.
The
awards will honour businesses in six categories – developers, real estate
services, construction, architecture, banks, and houseware providers.
There
will also be a special award for outstanding social housing developers.
A poll
of buyers/residents is being done about projects with at least 200 apartments
or land lots and amenities like kindergartens and healthcare facilities in Ha
Noi,
Nguyen
Hong Quan, a former construction minister, said on behalf of the jury that
the market has recovered up somewhat thanks to the efforts of
property-related companies and the awards would encourage their further
contribution to market growth.
He also
expected the amendments to the Housing Law and Law on Real Estate Business
that the National Assembly recently approved to provide a more transparent
legal framework and facilitate the market's development.
The
awards, sponsored by the Central Steering Committee on Housing Policies and
Real Estate Market and organised in co-operation with the Housing Media International
company, will be announced next March at a property exhibition to be held at
the
Big
C opens latest supermarket in Bac Giang
Supermarket
chain Big C yesterday inaugurated its 30th outlet in the northern
Big C
Bac Giang hypermarket and shopping center has an investment capital of VND275
billion (nearly US$13 million). It covers a total area of 22,000sqm, of which
the supermarket occupies nearly 3,600sqm. The supermarket sells more than
24,000 items, ranging from fresh and dry food, garment and textiles to
household utensils and electrical appliances, 95 per cent of them being local
products.
The
retail space has nearly 70 shops and mobile kiosks, offering products of
familiar fashion brands such as The Blues, John Henry and Anta, Owen and
Citizen. There are also food, coffee and healthcare products, as well as a
bookstore and an area for games.
With the
aim of protecting the environment, Big C Bac Giang uses green building
concepts, and also has a green campus spread over an area of nearly 5,500sqm.
The supermarket provides employment to 500 local labourers.
Deloitte
to offer risk management to
The HCM
City Stock Exchange (HOSE) has entered a memorandum of understanding with
Deloitte
To
improve competitiveness, they will focus on improving the effectiveness of
the corporate risk management system at listed and securitites companies as
well as training programmes on domestic inspection and auditing.
Phan Thi
Tuong Tam, general director of the exchange, said at the signing ceremony on
Thursday that risk management was a significant task, because of its
importance to the sustainable development of the market, especially in
difficult economic times.
The
State Securities Commission has granted Kinh Bac Urban City (KBC) a licence
to issue bonds worth VND1.2 trillion (US$56.3 million).
The
property developer earlier reported that in the third quarter of 2014, its
revenues reached VND360 billion ($16.9 million) while its profits reached
VND128.6 billion ($6 million).
The
company reported a loss of VND58 billion ($2.7 million) during the same
period last year. Land leasing at industrial zones have significantly
contributed to its profits so far this year. KBC yesterday closed unchanged
at VND16,700 per share.
Furniture
firm buys Hong Kong's Mass Noble
Furniture
provider Duc Long Gia Lai (DLG) has purchased Hong Kong-based electronics
equipment company Mass Noble by issuing 23.2 million shares to swap for Mass
Noble shares.
In its
announcement last Thursday, DLG said the purchase would help it save a huge
amount of money upon entering a new market segment. In addition, the company
plans to issue five million convertible bonds to fund its projects. DLG
yesterday finished lower by 3.2 per cent at VND12,100 per share.
BIDV
enjoys more than $164m in profits as assets rise
Net
profits of the Bank for Investment and Development of Viet Nam (BIDV)
slightly exceeded VND3.5 trillion (US$164.3 million), a 13.5-per cent
year-on-year increase, in the first nine months of 2014.
In
addition, the bank's total assets reached VND598.94 trillion ($28.12
billion), a 9.2-per cent increase over that at the beginning of this year.
Its total outstanding loans reached VND428.54 trillion ($22.65 billion), a
9.4-per cent increase. Of these, non-performing loans made up 1.97 per cent,
a 0.33-per cent decline.
BIDV
closed yesterday at VND12,700 per share.
VOF
Investment Limited is no longer a large shareholder of Eximbank (EIB) after
it unloaded 60,000 shares of the bank, the HCM City Stock Exchange announced
yesterday.
The
VinaCapital-managed fund's holdings in the bank fell from about 61.528
million shares to about 61.468 million shares, or from five per cent to 4.99
per cent, on November 26. This means that the fund no longer has to report
information related to EIB share transactions.
VinaCapital
is among the leading foreign investment management and real estate
development companies in
Bio-fuel
E5, a mixture of 95 per cent of petrol and 5 per cent of ethanol, will be
sold at 58 gas stations in
The
number of stations selling E5 bio-fuel will increase to 115 by June, and then
at all 510 stations by the end of next year, said Le Ngoc Dao, deputy
director of the department.
Seven
cities and provinces, including
Around
90 per cent of gas stations in the city have updated their tanks and filling
stations to meet requirements for selling the fuel, Dao said at a meeting
held in
Dao
asked major fuel wholesalers in the city such as PV Oil, Saigon Petro and
Comeco to co-operate with the department to support dealers to supply
bio-fuel to customers.
"Newly
established gas stations have to commit to selling E5 bio-fuel," she
said.
To
promote the use of the green fuel among customers, Dao proposed that tax
incentives should be applied to E5 bio-fuel trading firms to cut prices.
Rice
exporters enjoy high prices
The
value of agricultural and seafood product exports rose by 12.1 per cent
year-on-year in the first 11 months of this year to reach US$28.2 billion.
This
figure includes $2.66 billion gained this month, according to the Ministry of
Agriculture and Rural Development.
The
ministry noted that the volume of rice exports fell by 2.7 per cent to stand
at 6 million tonnes, but the earnings rose by 1.9 per cent to stand at $2.79
billion.
The
prices of Vietnamese rice exports increased by 4.61 per cent to reach $460.09
per tonne against the same period last year, while the world prices fell, the
ministry said.
In the
first 11 months, the Cuu Long delta provinces exported 2.7 million tonnes of
high-quality rice, accounting for 52 per cent of the total rice export volume
in the region.
Pepper
exports earned $1.16 billion in the period, up 35.7 per cent from the same
period last year. The
Coffee,
another export staple, posted an 18 per cent increase year-on-year in export
volume, with 1.56 million tonnes being shipped abroad and a 35.7 per cent
rise in value, earning $3.26 billion.
However,
rubber exports generated only $1.62 billion, a year-on-year decrease of 27
per cent for a volume of 954,000 tonnes, up 0.5 per cent compared with 2013.
This was
due to the fall in the global rubber prices, the ministry said, adding that
demand had dropped in some important rubber markets such as
In the
reviewed period, the value of seafood exports reached $7.22 billion, an
increase of 19.9 per cent, including $666 million earned in November.
Valued
at $1.56 billion, the
Meanwhile,
seafood exports to other key markets, such as
The
ministry also reported that the export value of forestry products went up by
13 per cent to stand at $5.88 billion.
The
export value of forestry products to the
Shrimp
factory opens in Kien Giang
Trung
Son Seafood Processing Joint Stock Company inaugurated a shrimp processing
factory in Duong Hoa Commune, Kien Luong District in the Cuu Long (Mekong)
Delta
The
US$7.9 million factory aims to create 750 jobs. Its capacity in phase 1 is
5,000 tonnes per year and will double in phase 2.
Its
capacity in phase 1 is 5,000 tonnes per year and will double in phase 2. —
Photo vov
The
corporation chose Japanese Mitsubishi Corporation as its strategic partner as
The
factory is located in the company's industrial shrimp raising zone, which
will provide raw materials.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Hai, 1 tháng 12, 2014
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