BUSINESS IN BRIEF 27/12
Automobile imports near record high
The total import turnover of Completely Built-Up (CBU)
automobiles in
Further, the General Department of Customs revealed that the
country imported 66,025 vehicles, as of December 15.
The General Statistics Office estimated last month that the
total import turnover of automobiles in the first 11 months of the year would
be $1.292 billion with 60,000 units. However, the latest figure disclosed by
the General Department of Customs reflected different data from estimates.
The most recent figures showed that the country reached 61,595 units, with a
turnover value of $1.345 billion.
Moreover, the amount attained this year would reach a record
level of imported automobiles, as estimated figures were double those of last
year, in terms of both quantity and value.
In addition, imported automobile prices nearly reached $40,000
per unit. This amount followed those in
Further, the latest numbers announced by the Viet Nam
Automobile Manufacturers Association revealed that the assembled and CUB
imported units into Viet Nam in the first seven months of the year rose by 24
per cent and 62 per cent, respectively, compared with the same period last
year.
Central Institute for Economic Management Deputy Director Vo
Tri Thanh added that the local automobile sector has not chosen a suitable
development strategy.
The sector's strategy should be based on two basic factors —
economic scale and association.
Thanh noted that the local sector had been disorganised in its
manufacturing processes, opening markets and trade liberalisation.
Truong Dinh Tuyen, former minister of Industry and Trade, said
that
Tuyen said that tax protection should not be the sole tool
offered to the enterprises, if the country wants to develop the sector.
However,
Oil refinery exceeds annual targets
Binh Son Oil Refinery Co Ltd reported at a conference on
Wednesday that it produced 5.81 million tonnes of oil this year, earning
VND127.8 trillion (around US$6 billion) or 128 per cent of its yearly target.
In 2014, the company imported 6.4 million tonnes of crude oil,
completing 119 per cent of its yearly plan.
The company contributed VND23 trillion ($1.1 billion) to the
State budget, surpassing its plan by VND11 trillion ($524 million). Located
in the central
At the conference, the company was also granted an investment
certificate to upgrade and expand the refinery. The $1.9 billion expansion
will increase annual capacity by 2 million tonnes to 8.5 million tonnes.
The company began providing bio-fuel E5-RON 92 in July in
seven cities and provinces, in accordance with the bio-fuel development roadmap
approved by the Government.
Supply Chain Day to be organised in April
Following the success of World Supply Chain Day, which started
in 2008, the Viet Nam Supply Chain Community plans to mark the day on April
16.
Events include open days, debates and visits to schools and
colleges. Promotional videos and blog posts will highlight opportunities in
the logistics and supply chain field.
More than 650 companies took part in a similar event in
Quang Ninh to build $128m industrial park
A joint venture between Hong Kong's Rent A Port and Infra Asia
Investment Limited and
Speaking at the license granting ceremony on Wednesday,
chairman of the provincial People's Committee Nguyen Van Doc asked local
authorities to provide all possible support in site clearance, making it easy
for construction to begin soon.
RoK – largest investor in
The
The total inbound newly-registered and supplementary FDI from
RoK enterprises reached US$7.32 billion for the year, accounting for 36.2%
of foreign cumulative investment.
The RoK was followed by Hong Kong, Singapore and Japan in
second, third and fourth places, respectively.Among the 50 cities and provinces
nationwide attracting FDI, Thai Nguyen, Ho Chi Minh City and Binh Duong
topped the list.
As of the end of the year, the number of new FDI projects
jumped 9.6% over the end of 2013 to1,588 projects with registered FDI of
US$15.64 billion.
The total number of supplementary projects added during the
year was 594 with registered FDI of US$4.58 billion.
The manufacturing and processing sector led in attracting
foreign investment with 774 new projects and FDI of US$14.49 billion,
followed by the real estate and construction sectors.
The national flag carrier Vietnam Airlines on December 25
officially operated its first international flight at the
The flight, coded VN661, took off at 10:45am (local time),
bringing passengers from
All areas serving Vietnam Airlines’ flights are well-arranged
and equipped with modern facilities, providing the best conditions for
passengers.
At the new wing of the
As planned, its international flights from
The four-storey terminal was built at a cost of 960 million
USD. It can serve 10 million passengers each year, significantly reducing the
burden on the existing terminal, which saw 12 million passengers last year.-
Agriculture exports hit 31 billion USD
The agricultural sector has recorded an export turnover of
nearly 31 billion USD this year, a year-on-year increase of 11.2 percent, the
Ministry of Agriculture and Rural Development reported on December 25.
Among the high export revenue earners were coffee, cashew,
pepper and rice, the ministry said at a workshop held to review the sector's
performance this year and discuss plans for next year.
Farm produce topping the 1 billion USD export mark include
rice, coffee, rubber, fruits and vegetables, shrimps, tra fish and forest
products, the report said.
It was the first time that the export of Vietnamese fruits
posted a turnover of more than 1.5 billion USD, a year-on-year increase of
34.9 percent.
The agriculture sector's GDP growth rate was 3.3 percent,
higher than the set target of 3.27 percent.
The results can be attributed to positive changes made in the
agricultural restructuring process and effective implementation of the
national programme on building new rural areas, said Agriculture Minister Cao
Duc Phat.
Better disease prevention and control has also helped, he
said.
Welcoming the achievements, Deputy Prime Minister Hoang Trung
Hai said the agricultural sector still had great potential and advantages for
further development.
He said this year's positive results would create the momentum
needed for strong development of the sector in 2015.
However, he also pointed to several shortcomings.
Farmers' incomes remained low, the application of science and
technology in agricultural production still lagged behind, there was gap
between research work and their application in the field, and a lack of
linkages between farmers, scientists and businesses, he said.
Hai said the agriculture sector needs to continue its
restructuring process, increase output and quality of produce, and become
more competitive.
He said the sector should implement policies to attract
investment into processing and stressed the need to develop more export markets
for farm produce.
Minister Phat said that the sector aims to increase its
production value by 3.5-3.7 percent in 2015 and reach an export turnover of
32 billion USD.
Towards this, there would be added focus on research to
produce better crop varieties, apply modern technology in processing and
preservation as well as reducing post-harvest losses, the Minister added.-
Banknetvn and Smartlink officially merged
The two largest payment card networks in Vietnam, Vietnam
National Financial Switching Joint Stock Company (Banknetvn) and Smartlink
Card Services Joint Stock Company (Smartlink), were officially merged on
December 25.
The two firms started merging works since 2012 under the
direction of Governor of State Bank of Vietnam (SBV).
On December 22, 2014, the Prime Minister allowed the pair to
enjoy a 5-year economic concentration status. Another 5-year extension will
be automatically awarded if no breaches are found.
Speaking at the merger contract signing ceremony, SBV Deputy
Governor Nguyen Toan Thang expected the merged company would complete several
key tasks, notably building a national standard for chip cards to be
compatible with international ones and ensure national benefits at the same
time.
He expressed his hope that the alliance will open up
opportunities for the development of smart card payment in
The firm will examine and rearrange the commercial banks’ ATM
and POS systems to improve the effectiveness and service quality, reduce
costs and develop added-value services on a unified switching system.-
Can Tho enjoys 970 million USD trade surplus
The Mekong Delta city of
The city earned 1.35 billion USD from exports while spending
380 million USD on imports.
Duong Nghia Hiep, Vice Director of the municipal Department of
Industry and Trade, attributed the performance to the city’s efforts to boost
the promotion and production of key export items, namely rice, seafood and
garments. The three items brought a combined turnover of 950 million USD,
making up a 70.3 percent of the locality’s total export this year.
Dong Nai aims for 1 billion USD in trade surplus in 2015, with
its total export of 14.4 billion USD, up 14 percent, and import of 13.2
billion USD, a 9 percent rise.
Falling crude price to positively influence VN’s economy
Fall in price of crude oil would positively influence the
Vietnamese economy, helping the country gain stronger growth in 2015,
commented an article posted in The Diplomat, a magazine specialising for the
Asia-Pacific region affairs.
The article, run on December 23, said given the fact that
crude oil exports account for about 10 percent of Vietnam ’s state budget,
Minister of Planning and Investment Bui Quang Vinh held that at each US
dollar drop in the price per barrel would mean a concurrent drop of between
roughly 46 USD to 56 million USD in the budget.
The country is now much less reliant on oil exports for
revenues than it was before, with the current 10 percent a far cry from the
previous 20-25 percent rate, stated Vinh.
The article quoted experts’ opinions as predicting that the impact
on the State budget may also be offset in 2015 by other positive effects on
economic growth for
All in all, Glen B. Maguire, ANZ bank’s chief economist for
the Asia-Pacific, said the oil price would have negligible impact on GDP
growth in
Meanwhile, the Asian Development Bank recently raised
Frontier Strategy Group (FSG) predicts that
The Vietnamese government could also take steps to help
mitigate potentially negative economic effects. Already, earlier this month
the Ministry of Finance raised tariff caps on petroleum products to help
offset a state budget deficit.
Other measures could be mulled, including selectively reducing
drilling activities if prices fall further as it would reduce the
profitability of some oil exploitation for companies like the national oil
and gas giant PetroVietnam. This could prove trickier, however, as Vinh, the
minister, said that a reduction of oil output by 30 percent would cause GDP
to fall by between 0.8 to 1.2 percent in 2015.
Coffee meets new standards
Around 19,000 coffee farmers in
The number is up 51 percent year-on-year, according to a
report on their programme dubbed NESCAFE Plan by Nestle
In the last three years, they have organised 923 training
courses for farmers in Dak Lak, Dak Nong, and Lam Dong provinces in modern
methods to lower their costs and improve their skills.
The programme has also offered technical assistance to 31,000
farmers.
Le Quang Dung, a coffee farmer in Dak Nong province's Dak Wer
commune, said by taking part in the programme and training courses, farmers
like him have progressively improved their practices so that they can grow
produce meeting international standards.
Around 20,000 hectares have been certified as adopting 4C
standards, twice last year's figure under the programme.
These standards have enabled Vietnamese farmers to sell their
coffee at higher prices in the world market.
The standards, developed by the Germany-based 4C Association,
are a set of social, environmental, and economic principles that farmers must
comply with to progressively improve sustainability.
Compliance helps them also increase output and protect the
environment.
Coffee is one of
Private equity investors keen on Vietnam
Private equity investors are paying more attention to
Vietnamese market and ready to put additional resources here in expectation
of better long-term returns, according to the Grant Thornton global private
equity report 2014-2015.
The report made reference to the bi-annual 12th survey that
was conducted in the fourth quarter, 2014, involving decision-makers and
investors working in the private equity (PE) sector both in and outside
In the survey, respondents’ positive sentiment towards the
economy achieved its highest response rate in the last two years, reaching 72
percent.
They intend to maintain or even increase investment fund
allocation to
Education, real estate, food & beverages, and retail are,
again, the leading sectors which are seen as especially attractive for
investment.
While the role of market growth as a driver of value growth
increased from 35 percent to 43 percent among respondents, performance
improvement decreased from 49 percent to 35 percent, reflecting the current
market condition.
When considering an investment into a Vietnamese private
company, transparency in business activities is considered the most important
factor with 21 percent of the respondents choosing this category, showing no
change compared to the last survey.
Twenty percent of respondents said they are concerned most
about corporate governance in
There is an increase among respondents to 41 percent who
believe the cost of debt will decrease slightly in the next 12 months.
Nevertheless, the economy is still facing many challenges,
including slow reforms in the state-owned sector, inadequate infrastructure,
difficulties in obtaining debt financing, corruption, and the complications
in government red tape and legislation.
In terms of unattractive ranking, there is a portion of
respondents who no longer see the country as a potential destination (5
percent compared to nil in the last survey).
According to the ASEAN Business Outlook Survey conducted by
the American Chamber of Commerce in
Lam Dong moves to expand trade
The Central Highlands
The conference brought together 200 domestic and foreign
businesses, which reached 16 deals covering various industries.
Lan Dong, Dak Lak, Dak Nong, Gia Lai and Kon Tum form the
In the first nine months of 2014, the Central Highlands have
over the past nine months attracted 177 FDI projects with a total registered
capital of 926 million USD, 66 percent of the capital went to Lam Dong.-
Thai Nguyen posts record economic growth
The
Also according to statistics provided by the provincial
People’s Committee, the province overfulfilled the targets for industrial
production and export value. Industrial output was estimated at 160 trillion
VND (7.27 billion USD), which is a 3.34-fold increase over the yearly goal,
while exports earned the province 8.1 billion USD, a 7.1-time hike.
The results were attributable to the province’s effective
solutions to improve investment climate and reform administrative procedures,
People’s Committee Chairman Duong Ngoc Long said.
The acceleration of infrastructure projects for transport,
electricity and water supply created favourable conditions for manufacturers
based in Thai Nguyen to establish trade and production links with their
partners in northern economic hubs like
In addition, several major investment projects in support
industry, mineral processing, and high technology, including the hi-tech
complex of Samsung group, became operational during the year, creating a
breakthrough in local industrial production.
High-output industrial products include mobile phones – which
account for 71 percent of the total export turnover, garment and textile,
coal, iron and steel products and cement.
In 2015, Thai Nguyen aims to maintain an economic growth of 15
percent and an industrial production value of 260 trillion VND (123 billion
USD).
Local authorities will continue to build infrastructure at
industrial parks for support industry projects to serve the Samsung hi-tech
complex, and push efforts to enhance the provincial competitive capacity.
Lao-Viet Bank builds new branch in northern Laos
The Lao-Viet Bank began the construction of its new branch in
Phonsavan town, the Lao
Somvang Vongvilay, General Director of the Chitchareune
Construction Co. Ltd, said the project’s location in populous downtown
Xiengkhouang is favourable for doing business.
The five-storey building, covering 2,800 square metres, will
be built by Chitchareune at a cost of 4.65 million USD.
Xiengkhouang Governor Somkoth Mangnomek, who is also the
Secretary of the provincial committee of the Lao People’s Revolutionary
Party, spoke highly of the bank’s efforts to expand its services to serve
local people, helping carrying out the Vietnamese and Lao Governments’
cooperation agreement on assisting Xiengkhouang and Huaphan provinces until
2020.
The Lao-Viet Bank, founded on June 22, 1999, is a joint
venture between the Bank for Investment and Development of Vietnam (BIDV) and
the Banque Pour Le Commerce Exterieur Lao Public (BCEL). It currently headquarters
in
The customs agency has performed well its role as coordinator
for the ASEAN Single Window and National Single Window in 2014, it was
reported at the agency’s year-end online meeting on December 25.
The Vietnam General Department of Customs has connected the
Ministries of Finance, Transport and Industry & Trade on schedule, while
putting the Vietnam Automated Cargo and Port Consolidated System/Vietnam
Customs Information System (VNACCS/VCIS) into operation at all its units
nationwide by mid December.
The system has served 49,880 enterprises, processing 5.17
million customs declarations with a total import-export value of 182.45
billion USD.
Customs officers had detected 18,448 law violations in the
field involving more than 400 billion VND (18.7 million USD) worth of goods
during the year.
In particular, the sector submitted the draft law on customs
to the National Assembly for approval in June and is working on related
guidance documents.
The department also collected 243.81 trillion VND (11.4
billion USD) for the State budget, which were equal to 108.4 percent of the
estimate.
Next year, the agency plans to step up its efforts to link
more ministries and agencies to the national single window towards the ASEAN
Single Window.
The customs agency has performed well its role as coordinator
for the ASEAN Single Window and National Single Window in 2014, it was
reported at the agency’s year-end online meeting on December 25.
The Vietnam General Department of Customs has connected the
Ministries of Finance, Transport and Industry & Trade on schedule, while
putting the Vietnam Automated Cargo and Port Consolidated System/Vietnam
Customs Information System (VNACCS/VCIS) into operation at all its units
nationwide by mid December.
The system has served 49,880 enterprises, processing 5.17
million customs declarations with a total import-export value of 182.45
billion USD.
Customs officers had detected 18,448 law violations in the
field involving more than 400 billion VND (18.7 million USD) worth of goods
during the year.
In particular, the sector submitted the draft law on customs
to the National Assembly for approval in June and is working on related
guidance documents.
The department also collected 243.81 trillion VND (11.4
billion USD) for the State budget, which were equal to 108.4 percent of the
estimate.
Next year, the agency plans to step up its efforts to link
more ministries and agencies to the national single window towards the ASEAN
Single Window.
MOIT urged to work harder for smoother information flow
Deputy Prime Minister Vu Duc Dam has asked the Ministry of
Information and Technology (MOIT) to work harder to smooth the way for
information to create social consensus and fuel the country’s rapid and
sustainable development.
He made the suggestion at a video-teleconference on December
25 to review the MOIT’s operation in 2014 and draw out tasks for 2015.
The Deputy PM urged the ministry to create all possible
conditions for IT and telecommunication enterprises to engage strongly in
ensuring equal development of IT in all regions across the country.
Meanwhile, the ministry should encourage the involvement of
various economic sectors in the publishing industry, while ensuring the
quality of all publications introduced to the public, he said.
Commenting on the ministry’s performance in 2014, the Deputy
PM said this year witnessed strong reforms regarding the ministry’s
direction, management, and production activities.
As many as 21 projects built and consulted by the MOIT were
approved and issued by the Politburo, the Government and the Prime Minister
throughout the year, the highest number so far, he noted.
At the same time, the ministry also sped up the restructuring
of enterprises operating in information technology and communication,
especially the Vietnam Post and Telecommunication Group (VNPT), he said.
Minister Nguyen Bac Son submitted a variety of proposals,
including the one on the establishment of departments for information
security and local information since they are crucial for guaranteeing cyber
information security and popularisation at grassroots level.
Tourism sector records highest growth in revenue
The tourism sector posted the highest ever increase of 15
percent year-on-year to 230 trillion VND (10.9 billion US D) in revenue
despite an array of difficulties in 2014.
So far this year,
The results were attributed to the sector’s efforts to expand
key tourism markets and stimulate domestic tourism demand, heard a press
conference on selecting the top 10 culture, sports and tourism events of the
year held in
Vietnam is home to 22 world heritage recognised by the UNESCO,
including two natural heritage sites (Ha Long Bay and Phong Nha-Ke Bang
National Park); five cultural heritage (the Central Sector of the Imperial
Citadel of Thang Long, the Citadel of the Ho Dynasty, the Complex of Hue
Monuments, Hoi An Ancient Town, My Son Sanctuary), and one mixed heritage
(Trang An Landscape Complex).
The country also boasts nine cultural practices winning
UNESCO’s intangible heritage status, namely Hue's royal court music, Gong
space culture in Tay Nguyen (Central Highlands), the northern province of Bac
Ninh's love duet singing, the Giong festival, Ca Tru ceremonial singing, Xoan
singing, Don Ca Tai Tu music, the worship of Hung Kings, and the Nghe Tinh
Vi-Giam folk singing.
Can Tho plans big for aquaculture
The Mekong Delta city of
Currently, the city is implementing 12 aquaculture projects to
realise the goal, said Pham Van Quynh, head of the department.
From 2015, Can Tho will expand total fish and shrimp farming
areas to 26,000 hectares, focusing mostly in Thot Not, Vinh Thanh, Co Do, and
Phong Dien districts.
In order to ensure sufficient supply of breeding stock for the
local aquaculture sector, Can Tho is speeding up the construction of a
breeding centre with a capacity of providing 2 billion fry of various species
every year.
At the same time, the city will encourage the application of
science and technology in aquatic farming, particularly the adoption of good
aquaculture practices meeting national and international standards, including
the VietGAP and GlobalGAP.
In addition, Can Tho will build a number of new processing
factories with a total capacity of 122,000 tonnes per year, enabling the city
to process 200,000 tonnes of raw seafood materials each year by 2020.
This year, the city’s aquatic output is expected to reach
200,000 tonnes, according to the chief of the Department of Agriculture and
Rural Development.
Next year, Can Tho targets 205,000 tonnes of total output, a
rise of 6.7 percent year on year, while shipping abroad 120,000 tonnes of
processed products for 485 million USD, up 27 percent.
Currently, key markets of Can Tho’s aquaculture products
include those in Asia, Europe,
No strong tra export growth forecast for next year
The General Department of Fisheries under the Ministry of
Agriculture and Rural Development has forecast the nation’s tra fish export
next year would range from US$1.75 billion to US$1.85 billion, compared to
this year’s US$1.8 billion.
The department plans to keep the farming area steady at 5,500
hectares in 2015 with output of 1.1-1.2 million tons. A source from the
department said the export target would stay unchanged because there is
little sign of a consumption improvement in major markets.
Statistics showed the export volume of tra fish in
January-November was 718,000 tons worth US$1.58 billion, increasing 0.5% in
quantity and 0.4% in value over the same period last year.
Nguyen Hoai
Regarding the registration of export contracts, Vo Hung Dung,
vice chairman and general secretary of the Vietnam Pangasius Association (VN
Pangasius), said his agency has processed 6,672 requests from 193 exporters
to ship 368,954 tons of tra in the last three months.
According to him, 18% of the export volume was sent to the EU,
10% to the
Of the total registered production of nearly 370,000 tons,
80-86% were frozen fillets, 6-10% whole cut fish, while the remainder
comprised value-added products and tra by-products.
Short-term recovery not in sight
The local stock market could not recover in the short term
given falling global oil prices, according to brokerages.
However, Viet Dragon Securities Company suggested investors
take advantage of market volatility to acquire shares with good fundamentals
and restructure their portfolios.
The VN-Index lost a steep 5.5% last week against the week
earlier and closed at 523.09 while the HNX-Index dropped around 3.8% to end
at 81.32.
Local investors’ anxiety rose as OPEC, the cartel that pumps
around 30% of the world’s oil, said it would keep oil output unchanged
despite an oversupply on the world market. Therefore, they offloaded oil and
petroleum tickers such as GAS, PVD, PET and PXS, pushing their prices down
strongly in the first three sessions of last week.
These stocks however gained Thursday, spurring the VN-Index.
But the portfolio restructuring of two exchange traded funds Market Vectors
ETF (ETF VNM) and FTSE Vietnam Friday caused negative impact on the main
index as large-cap tickers like VCB, VIC, MSN and FLC faced sell-offs.
Meanwhile, liquidity on the Hochiminh Stock Exchange jumped
nearly 14% against the previous week with matching volume of 623.5 million
shares while it inched up 1.7% on the
Foreign investors remained on the selling side on both
bourses. They net sold over VND490 billion (some US$22.9 million) worth of
shares on the HCMC market, mainly STB, MSN, PPC and FLC, and their net sales
totaled around VND57.6 billion (some US$2.7 million) on the Hanoi Stock
Exchange.
Noticeably, they bought over VND577 billion (some US$26.9
million) worth of SSI shares as this ticker was added to the portfolios of
the two ETFs.
Dau tu Chung khoan newspaper quoted Alan Pham, chief economist
of VinaCapital, as saying foreigners net sold shares so as to adjust their
portfolios rather than withdraw capital out of the domestic market.
They will continue to make investments as
Foreign capital on the domestic market is estimated at around
US$200-250 million this year, US$5-10 million lower than last year, due to
the global oil price decline, Alan Pham added.
Forex lending to exporters, fuels importers continues
Exporters having foreign currency revenues and fuels importers
securing quotas from the Ministry of Industry and Trade can continue to take
out loans in foreign currency until the end of next year, according to the
central bank.
Nguyen Thi Hong, deputy governor of the State Bank of Vietnam
(SBV), said this decision comes after SBV governor Nguyen Van Binh’s review
of foreign currency lending in the banking system and the National Assembly’s
approval of the gross domestic product (GDP) growth target of 6.2% for 2015.
The move will prop up exporters of goods and importers of
fuels, she said.
Circular 29/2013/TT-NHNN that allows goods exporters and fuels
importers to take out short-term foreign currency loans expires on December
31 this year, hence the central bank’s fresh move.
The extension of the rule will help enterprises lower costs of
borrowing as the exchange rate is stable and interest rates for
Interest rates for U.S. dollar short-term loans range from
3.5% to 4% a year while the rates for
Outstanding loans in foreign currency for fuels importers and
goods exporters account for around 30% of total outstanding loans in foreign
currency in the banking system.
Ceiling airfares set to fall next year
In response to dropping world oil prices, the Ministry of
Finance decided last week to lower the ceiling price of economy-class tickets
for domestic flights from VND5,000 to VND4,250 per kilometer from early next
year.
The Civil Aviation Authority of Vietnam (CAAV) will set
specific airfares based on transportation costs and actual market conditions
at the request of airlines.
CAAV will consider airfares for five groups of distance,
announce the list of domestic air routes grouped by distance, and work with
relevant agencies to review input costs to timely adjust fares.
The ministry’s decision, which will take effect on January 1,
2015 and replace Decision 2967 issued on December 6, 2011, keeps airfares
within the levels set by CAAV.
Airlines are required to offer different ticket prices, and
register their fares with the authorities prior to any adjustment.
On December 16, CAAV proposed lowering the ceiling of airfares
for domestic services as the price of Jet A1 fuel had slumped on sliding
world oil prices, resulting in a 17% reduction in airlines’ operating costs.
However, airlines said the ceiling airfare cut would not
affect ticket prices much as they are offering multiple price levels that are
normally 10-20% lower than the cap.
Flaws found in HCMC region planning
Experts have pointed out numerous flaws in the 2008 planning
of the HCMC region and called for new ideas to adjust it, heard a seminar
last week.
The HCMC region consists of eight provinces, namely HCMC, Binh
Duong, Binh Phuoc, Tay Ninh, Long An, Dong Nai, Ba Ria-Vung Tau and Tien
Giang.
At the seminar on the planning of the HCMC region until 2030
with a vision towards 2050 held by the Southern Institute for Spatial
Planning of Vietnam, deputy head of the institute Ngo Quang Hung said the
planning implementation at central and local levels is not consistent.
Urbanization has spiraled out of control and satellite towns
have yet to be developed to ease overcrowds in the center of town. Therefore,
there need to be ideas to adjust the planning and make it fit long-term
goals.
Talking about problems of the planning, Huynh The Du, lecturer
at the Fulbright Economics Teaching Program in HCMC, said the planning of the
HCMC region is not effective as population growth is inaccurately assessed,
making the planning soon obsolete.
For instance, in the planning between 1993 and 2010, the
city’s population was estimated at five million people. However, there were
more than five million people in 1998 and 7.4 million in 2010.
In addition, financing solutions to the planning are normally
unrealistic and issues concerning land use and transport policies are not
considered properly. Currently, there are lots of plans which conflict with
one another.
The transport development plan is one of the most unrealistic
ones. Total capital for transport projects in HCMC in the 2007 planning was
estimated at US$43 billion but actual investments in the past five years were
US$2.1 billion (5.08%).
Learning from urban planning in big cities, Professor Frank
Schwartze, head of the consulting group for the HCMC region, said the city
needs to develop towards the north and the east (Dong Nai and Ba Ria-Vung Tau
provinces) to adapt to climate change and retain open space in urbanized
areas.
The overall planning should be regulated by a single body
instead of different agencies.
Urban planning expert Ngo Viet Nam Son proposed HCMC
prioritize expressways leading to localities in the region.
Besides, it is necessary to build a metropolitan authority to
effectively manage the urban network.
63 businesses receive national brand awards
Sixty three businesses received the Vietnam Value Awards for
national strong brand names at a ceremony in
The award winners, selected from more than 1,500 applicants,
are operating in various fields such as engineering, machinery and equipment;
garment-textile and footwear; electronics, information technology and
telecommunication; agriculture, forestry and seafood; finance and banking;
food and beverages; trade services; construction and real estate.
It is noteworthy that there are 23 businesses having won the
award for four consecutive times, including the Vietnam Post and
Telecommunications Group (VNPT), the Vietnam Electric Wire and Cable Corp
(CADIVI) and the Tien Giang Food Company.
The biennial programme is the only one implemented by the
Vietnamese Government with a view to promoting the national image and trade
names via goods and services brands.
Businesses are encouraged to improve the quality of products,
increase innovation and creativity, and build a system to protect their brand
names, said Deputy Minister of Industry and Trade Do Thang Hai.
Participants to the programme also get the State’s support in
protecting and registering their trade names at home and abroad, he added.
In addition, the Trade Promotion Agency will assist
prize-winning businesses in building marketing strategies on an annual basis,
he said.
Despite an array of economic difficulties, the award winners
have proved their capacity in both domestic and international markets, Deputy
Prime Minister Hoang Trung Hai said.
He urged businesses to become more active and creative to
promote their brands and said the Government will create favourable business
climate and help enterprises gain access to bank loans.-
CapFin Asia eyes major Chan May-Lang Co deal
The
CapFin Asia’s director Daniel Berke revealed the firm’s plan
last week in a meeting with the local officials.
Nguyen Que, deputy head of the Chan May-Lang Co Economic Zone
Management Authority confirmed the project proposal with VIR and added that
the project was expected to cover 200 hectares.
“The potential investor said they would carry out a
feasibility study for this project within the next six months and conduct
planning before applying for an investment certificate,” Que said.
According to Que, CapFin Asia’s proposal matches the
government plans for the area and would be particularly suitable for the Chan
May-Lang Co Economic Zone.
Located between the central cities of Hue and Danang, and
located on the Central Vietnam Heritage Road which includes attractive
tourist destinations of Phong Nha-Ke Bang National Park, Hue, Hoi An and My
Son, and located on the East-West economic corridor, the Chan May-Lang Co
Economic Zone is regarded as one of 15 important coastal economic zones
throughout the country.
Over the past six years, Lang Co has witnessed dramatic
socio-economic development with revenues from the local tourism sector
increasing by 25-30 per cent, with the area witnessing 95,000 visitors per
year.
The Chan May-Lang Co Economic Zone has so far attracted
34 investment projects with the combined registered investment capital of
$2.28 billion, comprising of 10 foreign-invested projects capitalised at $1.3
billion and 24 domestic projects worth $968.5 million. Large projects in the
zone include the Laguna Lang Co integrated resort developed by Laguna
Source :
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Sáu, 26 tháng 12, 2014
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