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BUSINESS IN BRIEF 30/12
VN steelmaker Tisco to sell shares to SCIC
Thai Nguyen Iron and Steel Corporation (Tisco) has registered
with the State Securities Commission to sell its individual shares.
Tisco products are used in many important national projects.
The corporation is expected to receive $47.6 million from the State Capital
Investment Corporation to improve production. - Photo tisco.com.vn
The registration was done after the Prime Minister allowed the
State Capital Investment Corporation (SCIC) to contribute VND1 trillion
(US$47.6 million) to Tisco to improve production.
The capital will be invested in the second phase of Tisco's
production expansion project. The VND4 trillion ($190.47 million) phase is
one of the top seven projects listed in the Viet Nam Steel Industry
Development Plan for the 2010-15 period.
With this latest move, Tisco can receive capital from SCIC,
thus increasing its registered capital to VND2.84 trillion ($135.23 million).
Tisco is the first unique metallurgic zone in
Its products are used in important national projects such as
Hoa Binh, Yaly and Son La hydroelectric power plants, the North-South 500-KV
power line and My Dinh National stadium, as well as the Thang Long and Chuong
Duong bridges. It has also successfully penetrated international markets,
including those in
Fisheries sector aims for US$8.5 billion export turnover in
2015
The aquaculture sector sets a target of earning US$8.5 billion
from exports in 2015, up 10.7% year-on-year.
Speaking at the Directorate of Fisheries’ year-end conference
in
To achieve the goals, the directorate will focus on
controlling diseases, and improving the farming environment, Tam said.
It will also implement tasks mentioned in the sector’s
development strategy and plan by 2020, he added.
In 2014, despite difficulties and challenges relating to
weather, diseases, market barriers and the tension with
Its exports fetched US$7.92 billion, rising by 18% and
surpassing the set target by 11.6%.
Customs sector looks to higher budget collection
Deputy PM Vu Van Ninh tasked the customs sector to raise
budget collection by 10% (around VND 15,000 billion) in 2015.
The Deputy PM made the request on Thursday in Ha Noi at a
video-teleconference reviewing 2014 tasks and launching 2015 works of the
General Department of Viet Nam Customs.
As of November 30, the sector collected VND 228,645 billion
for the budget, surpassing the set goal of VND 224,000 billion and
representing a year-on-year increase of 14.8%. Budget collection from customs
activities was estimated at around VND 248,500 billion in 2014, up 12.2%
against 2013.
Addressing the event, Deputy Ninh hailed the achievements of
the customs sector amidst national decreasing budgetcollection due to the
falling oil prices in the global market.
He proposed the sector strengthen budget collection to offset
the deficit from the declining oil prices.
The leader asked the customs sector to work with related
agencies to reform administrative procedures; reduce inconvenience for
enterprises in accordance with the Government’s Resolution 19 and the PM’s
Directive 24 on strengthening management and promoting administrative
procedure reform in the field of tax and customs; cut time of customs
clearance; properly apply the national-single window system; and combat
counterfeit products.
Can Tho yet to become economic hub of delta
Can Tho City has yet to become an economic hub of the Mekong
Delta region as defined in the Politburo’s Resolution 45 though the city has
been supported to develop transport infrastructure and restructure its
economy.
In accordance with the resolution, Can Tho City will be
developed into a center of culture, industry, trade, services, tourism,
technology, education, health, transport and security in the Mekong Delta.
Deputy Prime Minister Vu Van Ninh told a meeting on Tuesday
that the government of Can Tho has to make greater effort to speed up its
development.
Tran Thanh Man, Party chief of Can Tho City, said after ten
years of implementing the resolution, the city is one of 13 provinces and
cities in the country that are able to contribute to the State budget. Its
contribution of VND800 billion (US$37.4 million) to the central State budget
accounts for 22% of the delta’s total.
Can Tho’s chairman Le Hung Dung pointed out investment environment,
infrastructure, links with other parts of the region and manpower quality are
problems that are hindering the city’s development.
As for transport infrastructure, Deputy Minister of Transport
Nguyen Van The said Can Tho is more accessible to other provinces in the
delta and HCMC, and other parts of the country thanks to highways, bridges,
airport and seaports, among others. In the coming time, the ministry will
continue finishing other major transport projects.
However, many experts have shown disagreement with that. They
said such projects in the city have been in inefficient operation, thus
lowering its vital role in the development of the delta.
Responding to the city’s suggestion for establishment of a
biotechnology institute, a representative of the Ministry of Science and
Technology said the ministry would merge two biotechnology agencies in Can
Tho University and the Cuu Long Delta Rice Research Institute into a center
for applied science and technology in Can Tho.
Deputy Prime Minister Ninh suggested that the city’s
authorities should focus on the development of industry sector and
application of high quality science and technology in the next ten years in
order to speed up the development of the whole region.
More farmers attend to global coffee standards
Around 19,000 Vietnamese coffee growers have joined NESCAFÉ
Plan to turn out products that meet the criteria of the Common Conduct for
the Coffee Community (4C), a global association which promotes sustainable
coffee production, processing and trading.
Vietnamese coffee can be sold at higher prices than normal
products on global markets if it is made in line with the 4C code consisting
of 28 social, environmental and economic principles for all players in the
green coffee supply chain.
This year, the number of farmers following the 4C standards
has jumped 51% against last year, according to the 4C Association. The area
of coffee grown in line with the 4C standards has increased from 10,000
hectares last year to 20,000 hectares this year but is still modest compared
to 500,000 hectares of coffee in the country.
Many farmers in the Central Highlands provinces of Daklak, Dak
Nong and Lam Dong have participated in training courses on the 4C standards
as part of NESCAFÉ Plan. In addition, around 31,000 coffee growers have got
technical support this year.
If coffee growers closely follow the 4C criteria, they can
lower production cost, raise productivity and protect the environment as well
as get informed of updated prices on the world market. The code also covers
ten unacceptable practices, including the use of prohibited plant protection
chemicals and child labor.
Many individuals, corporations and non-governmental
organizations worldwide have joined the Germany-headquartered 4C association
to promote sustainable development for the coffee sector.
According to the Tourism Authority of Thailand (TAT) in HCMC,
nearly 518,000 Vietnamese tourists had visited
Therefore, the Thai tourism sector is refreshing itself by
offering new tour packages and supporting travel firms to bring Vietnamese
travelers back.
TAT will aid local travel companies in advertising tours to
Recently, TAT invited representatives of local travel firms to
The Thai tourism sector is also drawing Vietnamese tourists to
medical or cosmetic surgery tours.
In August,
Food safety agency to simplify licensing procedures
The Department of Food Safety will next year connect its
database with 13 State-run food safety testing and certification laboratories
with an aim to streamline licensing procedures.
Tran Quang Trung, former director of the department under the
Ministry of Health, told a seminar in HCMC on Wednesday that the network
connection would enable individuals and organizations to submit their
applications for food imports and exports, and get certificates via the Internet.
In the past, applicants complained much about money- and
time-consuming processes for food testing and licensing as they must go to
different agencies to complete relevant procedures before they can get
certificates for customs clearance.
On December 17, the Ministry of Health initiated its online
public service to issue certificates for food safety and hygiene for food
producers and traders. The pilot scheme for the service has been implemented
in HCMC since December 2.
Trung said the service would help businesses to save time and
money, make licensing transparent, and minimize problems related to
certificate issuance for food products.
“Earlier, individuals and businesses in the central and
southern regions of
The applications for food testing and certification will be
processed within 10 days, otherwise relevant officers have to explain to
their leaders why such documents are put on hold.
Businesses can register online by logging in their accounts,
submitting applications and paying evaluation and issuance fees. They will
receive the certification results online and hard-copy certificates via mail.
More than 600 applications have been processed online in the
past time.
FIA puts foreign investments at US$20 billion
The amount of foreign direct investment (FDI) capital pledged
for projects in Vietnam have reached US$20.2 billion in the year to date,
down 6.5% against the previous year but higher than the year’s target,
according to the Foreign Investment Agency (FIA).
A report released by FIA under the Ministry of Planning and
Investment, 1,588 new projects have been licensed with total registered
capital of US$15.64 billion, up 9.6% compared to 2013, while investors of 594
operational projects have registered to add a combined US$4.58 billion, down
37.6% year-on-year.
Though the total newly-registered and supplemental FDI has
dropped 6.5% against 2013, it is still higher than this year’s target of
US$17 billion. In fact, the figure is a big surprise as FDI approvals were
always far lower than the same period of last year in the first 10 months,
according to industry observers.
Samsung’s multi-billion-dollar projects in cell phone,
electronics and hi-tech sectors have made a great contribution to this year’s
FDI approvals. In addition, Hong Kong’s Dewan International Co. Ltd. has
registered US$1.25 billion for a project in
FIA said processing and manufacturing sectors have attracted
most of the foreign investment approvals for 774 projects with total
newly-registered and extra capital of US$14.49 billion, or 71.6% of the total
capital, followed by real estate with US$2.54 billion and construction with
US$1.05 billion.
FDI disbursements had been estimated at US$12.35 billion as of
December 15, rising 7.4% year-on-year and 2.9% against the estimate.
Exports by FDI firms, including crude oil, have neared
US$101.6 billion, up 15.2% from last year and accounting for 68% of the total
export value. Their non-oil exports have been US$94.4 billion, up 16.7%
against the previous year.
Imports of the foreign-invested sector have increased 13.6% to
US$84.56 billion and made up 57% of the nation’s import bill. In all, the
sector has enjoyed a trade surplus of around US$17 billion.
Among the 60 nations and territories investing in Vietnam,
Korea remains the biggest investor with total newly-registered and additional
capital injections of US$7.3 billion, followed by Hong Kong with US$3
billion, Singapore US$2.79 billion and Japan US$2.05 billion.
Agriculture ministry aims high for exports
The Ministry of Agriculture and Rural Development has
projected the agro-forestry-aquatic exports to climb to US$32 billion next
year based on a trong performance this year.
The ministry has put the agro-forestry-aquatic exports this
year at US$30.86 billion, an increase of 11.2% compared to last year.
Minister of Agriculture and Rural Development Cao Duc Phat
told a review meeting in
Products with strong export growth are coffee with a
year-on-year rise of 32.2%, cashew with 21.1%, pepper with 34.1%, vegetables
and fruits with 34.9%, aquatic products with 18%, forestry and wood products
with 12.7%, and rice with 5.3%.
Rice, coffee, rubber, cashew, pepper, cassava, vegetables,
shrimp, tra fish and forestry products are in the list of export items with
turnover exceeding US$1 billion each.
Unlike previous years when growth of the agriculture sector
declined, the sector has bounced back to higher gear this year.
According to statistics of the ministry, the sector’s
production value has inched up 3.6% and its GDP has grown by 3.3% compared to
3.27% set earlier by the Government and 3% of last year.
Phat said 2014 is a successful year for the agriculture
sector.
The sector’s GDP growth has recovered but is still lower than
that in the 2006-2010 period. Moreover, the competitiveness of some
agricultural products is not high and consumption markets are not stable.
Besides, the value chain from production to consumption
between enterprises and farmers has slowly developed and mainly in rice
farming.
Nguyen Xuan Cuong, deputy head of the Party Central
Committee’s Economic Commission, said the number of enterprises involved in
agriculture is still small while the sector can create motivation for the
country’s economic restructuring.
If there is no mechanism to support enterprises in this field,
the country will not have a large-scale agriculture sector, Cuong added.
A representative of
Minister Phat said the ministry is drafting a decree on
support policies for cooperatives. In addition, the ministry will continue
plans to restructure the sector and to entice investments in agriculture.
Sugar firms fear losses, oversupply
Domestic sugar companies are worried about possible losses and
a sugar redundancy of 700,000 tons in the next crop next year if the
Government does not offer them support policy.
The Vietnam Sugar and Sugarcane Association (VSSA) said sugar
inventories nationwide in the 2013-2014 crop have amounted to nearly 415,000
tons as sugar firms have found it difficult to sell their products to foreign
markets, including
The association said there had been only 181,000 tons of sugar
exported to
VSSA estimate the domestic sugar output would total around 1.5
million tons in the next crop. With nearly 415,000 tons in stockpile and
around 100,000 tons imported in line with
Therefore, the VSSA has asked the Ministry of Industry and
Trade to allow local enterprises to export 600,000 tons of sugar next year.
In the past years, though the ministry has not banned sugar
exports through official channels, local exporters have not been able to export
much as domestic prices are normally higher than global levels.
To export sugar via border gates, local firms must get
permission by the ministries of industry-trade and agriculture-rural
development for quotas on an annual basis.
Sugar prices for March 2015 delivery on the London Commodity
Exchange stand at US$390.4 per ton, equivalent to some VND820,000 per ton.
This is much lower than the domestic production cost of VND1.2 million per
ton in the 2013-2014 crop.
Currently, sugar wholesale prices on the local market range
from VND11,500 to VND12,100 per kilo while farmers sell sugarcane in the
southern region for VND880-910 per kilo.
VNPT International opens branch office in Laos
Vietnam Posts and Telecommunications International (VNPT)
inaugurated a branch office on December 26 in
The opening of the branch is an important milestone in the
process of penetrating international marketplaces and a strategic step for
expanding VNPT's markets, Deputy Director of VNPT International Ho Cong Lam,
said at the inauguration ceremony.
The office will offer VNPT International's products and
services along with the products of its affiliates, he added.
On the same day, the firm signed contracts for providing
services to large telecom companies in
VNPT is an affiliate of the Vietnam Posts and
Telecommunications Group owned by the Vietnamese Government and the national
post office of
The company provides customers with direct services such as
international private leased circuit (IPLC), IPLC transit, IP/VPN (virtual
private network), satellite leasing services for customers in Vietnam, Laos,
Cambodia, Thailand and other nations throughout the world.
Goods plentiful for Lunar New Year holiday
It is nearly two months away from the Lunar New Year festival
but manufacturers and retailers across the capital city of
The total value of merchandise for the New Year holiday is
estimated at 16 trillion VND (761 million USD), mostly pork meat, fresh
seafood and vegetables, according to the municipal Department of Industry and
Trade.
Ho Quoc Nguyen, Director of Public Relations at Big C
supermarket, said the purchasing power is expected to increase 15 percent from
last year’s same period, adding that confectionery are plentiful, including
popular and premium brands of Kinh Do, Trung Nguyen, Vinamit and Hai Ha.
Big C also stores up 420 tonnes of fresh meat, and fruits of
various kinds from the Mekong Delta.
The Hanoi Beer, Alcohol and Beverage Corporation (Habeco)
plans to put 145 million litres of
The Hai Ha and Trang An confectionery companies turned out
8,500 and 2,700 tonnes of sweeties and jams, respectively.
Businesses involving in the city’s price stabilisation scheme
plan to sell 4,000 tonnes of rice, 900 tonnes of pork meat, 450 tonnes of
chicken and duck meat, 5.5 million eggs, 200 tonnes of frozen seafood, 1,500
litres of cooking oil, and 1,500 tonnes of vegetables.
Deputy Director of the municipal Department of Industry and
Trade Tran Thi Phuong Lan assured that between now and the Lunar New Year,
there will not be a dramatic price hike.
To shore up demand, shopping malls and supermarkets such as
Big C, Hapro, Vinmart, Fivimart, Intimex and Metro offer thousands of
products at discounts, not to mention other value deals.
To keep a check on supply and prices, the department will
direct market management units to crack down on speculation phenomena and
check points-of-sale that offer items listed in the price stabilisation
scheme.-
Trade-housing area master plans in northern
A master plan for a trade-service-housing area in the northern
bank of the
The area covers 9.37 hectares, of which 7.47 hectares will be
used for the construction of trade-service centre and housing.
Located in Dong Anh town,
The same day, the Department announced a resettlement area
planning in Kim Chung and Vong La communes in Dong Anh district.
Covering 20,15ha, the area has an estimated population of over
5,200 people.
According to the Department, the areas are part of the
The planning is expected to create a driving force for the
development of urban areas in the northern bank of
Woodworking sector targets export growth of 15% next year
The woodworking sector is pinning high hopes on export growth
of at least 15% next year given rising demand of major importing markets.
Huynh Van Hanh, vice chairman of the Handicraft & Wood
Industry Association of HCMC (HAWA), said shipments of wooden products this
year are estimated to increase 15% year-on-year to US$6.4-6.5 billion.
The growth is high but still below the potential of the
sector, Hanh told reporters on the sidelines of a conference on the wood
sector in
Therefore, sales of
Hanh noted that Vietnam still has many opportunities to step
up exports of wooden items as the country now holds a share of a mere 2.56%
among the 70 countries exporting wooden products in the world.
Meanwhile, as the biggest wooden furniture producer in the
world,
To attract more importers, Hanh called for local wood
enterprises to improve their processing lines and speed up application of
modern technology to guarantee stable quality for their products. They should
use input materials more efficiently to earn more from the material they
have.
Commenting on the Ministry of Agriculture and Rural
Development’s new decision prohibiting material wood imports from
This is why a number of countries in the world have accused
Hanh confirmed that local enterprises mainly use wood from
In fact, if
Stock market performs better this year
The performance of the nation’s stock market is better this
year than last year as the macro economy has stabilized, according to the
State Securities Commission of Vietnam (SSC).
SSC’s review report for 2014 showed that the VN-Index and the
HNX-Index have gained 9% and 24% respectively against 2013.
Market capitalization nears VND1,130 trillion (US$52.7
billion) this year, up by VND179 trillion compared to late 2013 and
equivalent to 31.5% of gross domestic product (GDP).
Liquidity has also improved strongly, standing at VND5.5
trillion (US$257 million) per session or double the year 2013. In addition,
the total value of listed shares has increased 19% against last year.
Total mobilized capital is estimated at VND237 trillion (US$11
billion), rising by 6% compared to last year. Of the amount, share issuance
and equitization account for VND23 trillion. Around 207 bond auctions have
been organized, raising nearly VND214 trillion, up 8% against last year.
The listed enterprises that are profitable have climbed 5%
year-on-year and combined after-tax profits of all listed firms in
January-September have grown 6.1% against the same period last year.
In January-November, net foreign capital totaled US$9.3
million. Portfolio value had amounted to US$14.4 billion as of the end of
October, up by around US$2.8 billion against late last year.
Local firms not fully aware of technical barriers to trade
Vietnamese businesses are not fully aware of technical
barriers to trade, challenges and opportunities, said Duong Dinh Giam,
General Director of the Industrial Policy and Research Institute at a seminar
in
Giam said in the international economic integration process,
the role of standardisation in general and technical barriers to trade in
particular becomes increasingly important, thus countries have paid great
effort to establish and maintain technical measures, which may create
implicit barriers to international trade and imported goods.
The common trend of international trade is that goods are in
free circulation with an import tariff of zero. However, countries will use
more non-tariff measures to protect domestic production against the fierce
competition from imported goods, Giam added.
Nguyen Binh Giang from the Import and Export Department under
the Ministry of Industry and Trade echoed Giam’s views, saying that the basic
solution for businesses is to accelerate market research and trade promotion,
and build a long-term strategy to improve the quality of export products to
make them more competitive.
Moreover, local firms should use more locally found materials
to reduce dependence on foreign suppliers, renovate their operation methods
and foresee arising challenges and technical barriers to have timely
response.
At the seminar, experts all agreed that it is essential for
local firms to raise awareness and update information about technical
barriers to trade on
In addition, the Government should develop supporting
programmes to help key export industries overcome technical barriers to spur
export value and effectively penetrate international market.
Central
Highlands looking to maximise tourism potential
The
Lying on a series of contiguous plateaus up to the height of
500-800m, the region consists of Dak Lak, Gia Lai, Kon Tum, Dak Nong and Lam
Dong provinces, which are rich in biodiversity with primeval forests, valleys
and fantastic scenery in mild climate all year-round.
The Central Highlands cultural space boasts hundreds of
cultural, art and architecture identities, enabling the development of a
range of ecological, resort, religious, cultural and adventure tours.
During the National Tourism Year 2014, the region welcomed
nearly 6 million visitors, including 400,000 foreigners, generating a revenue
of over 10 trillion VND, up 12 percent. Over 4.8 million of them, including
about 250,000 foreign tourists, came to Da Lat city, Lam Dong province.
However, there is still a long way to go to professionalise
marketing activities, head of the Vietnam National Administration of Tourism
(VNAT)’s Market Department Le Tuan Anh told an international workshop “Da Lat
– Central Highlands tourism: integration and development” in Da Lat city on
December 26.
VNAT called for designing a tourism trademark identification
system exclusively for the Central Highlands, which includes a slogan and
symbol, among others.
In the meantime, localities were urged to raise public
awareness of environment protection practices needed to make tourists come
back again.
Anh suggested prioritising marketing campaigns in the ASEAN
member countries,
Chutathin Chareonlard, Director of the Tourism Authority of
Thailand, called on infrastructure to be upgraded and more Thai-speaking tour
guides trained since the number of Thais visiting Da Lat city reached 14,000
in the first 11 months of 2014.
Experts expected more tours designed for young and elderly
tourists from
Japanese and Thai experts proposed that there should be trips
for their media and travel agencies to the
Vietnamese food company affirms trademark in Germany
A Vietnamese-owned company operating in food and restaurant
services has received a certificate of merit by the Ministry of Industry and
Trade for efforts to affirm its trademark in
At a ceremony in
The company boasts more than 30 shops across
Through its services, the company has helped promote the
gastronomy of
Tax inspection conducted in over 67,800 businesses
The General Department of Taxation has to date conducted tax
inspections over more than 67,800 enterprises, accounting for 14 percent of
the total operating ones, heard a conference in Hanoi on December 26.
Addressing the conference to review the sector’s operation in
2014, Deputy Prime Minister Vu Van Ninh spoke highly of the achievements the
sector gained in the context that the country still faced many difficulties.
However, he asked for tax inspection over at least 20 percent
of the 490,000 operating businesses.
In response to the Deputy PM’s request, Finance Minister Dinh
Tien Dung proposed the rates of 16 percent, 18 percent and 20 percent within
three years.
According to the General Department, tax collection is
estimated at 681 trillion VND (32 billion USD), equivalent to 109.1 percent
of the projection, of which domestic tax is 580.1 trillion VND, or 107.1
percent of the estimate, and tax from crude oil sales is 101 trillion VND.
During the year, the sector also intensified the reform of
administrative procedures and the application of modern technology. Nearly 95
percent of the businesses conducted e-tax declaration.
Meanwhile, the time spent on tax procedures fell from 537
hours to 167 hours per year. The sector is striving to decrease additional
45.5 hours.
Thai Nguyen province draws over 3.2 billion USD in FDI
The
Most investment was poured into manufacturing mobile phones
and spare parts and support electronic equipment for the Samsung hi-tech
complex in the Yen Binh 1 Industrial Park.
During the year, the province also allowed 26 existing FDI
projects to be added with a total capital of over 100 million USD, proving it
as a fertile land for investors, especially when the Samsung hi-tech complex
became operational last year.
Of the total newly registered and added FDI, over 1 billion
USD was disbursed.
Foreign businesses earned over 8.7 billion USD in revenue,
generated jobs for 52,000 workers and contributed more than 10 million USD to
the State budget.
Director of the provincial Department of Planning and
Investment Dang Xuan Truong said the province has adopted incentives for
businesses to promote investment and seek partners, while mobilising
financial sources for site clearance at centralised industrial parks.
To create a healthy investment climate, local authorities
withdrew investment licences and stop operation of projects with slow
progress and failing to abide by local regulations on investment.
In 2015, the province aims to attract 1.3 billion USD in FDI.
Exports rise 13.6 percent
In 2014,
Export growth helped stimulate GDP growth, create jobs and
reduce inventories. These results have reflected that the Government’s export
strategy is on the right track.
It has helped curbing trade deficit as
In recent years, foreign-invested enterprises have made
significant contributions to economic and export growth. In 2014, this sector
remains a key player in export value and growth.
Revenue from foreign companies was estimated at 101.8 billion
USD in 2014, up 15.4 percent over the previous year and accounting for more
than two thirds of the country’s total earnings.
Main export products have included phones, computers,
electronic devices, and cameras, among other things.
Vietnamese Government regards foreign direct investment (FDI)
as an important source to drive economic development. The Government and
relevant ministries have introduced many measures to attract, manage and
streamline FDI.
Recently enterprises have taken advantage of multilateral and
bilateral economic integration opportunities to boost export growth. The
total export value of goods with a certificate of origin is on the rise,
reaching 19.3 billion USD in the first nine months of 2014, a year-on-year
rise of 94 percent.
These trade pacts are expected to bring about many
opportunities for Vietnamese exports, creating a foundation for the domestic
manufacturing sector to join global supply chains.
A number of
However, the question is how enterprises can take advantage of
these FTAs to boost exports and expand their market. Currently there are
enterprises that do not pay enough attention to tariff preferences. The
Ministry of Industry and Trade (MOIT) should help businesses fully understand
FTAs’ content so that enterprises can fully take advantage of those FTAs. The
MOIT should also co-ordinate with relevant ministries and agencies to work
out measures to attract investment in export supply chains in order to
increase the localisation rate and value for export products.
However, raw material issue are a key problem for
manufacturing goods for exports as the country has relied heavily on imported
raw materials. The country is also expected to face more anti-dumping
lawsuits and increased competition in the global market.
In order to achieve the 2015 export target of more than 160
billion USD, up 10 percent against 2013, the Ministry of Industry and Trade
and relevant ministries and agencies should focus on measures to support
enterprises, remove difficulties for farmers and encourage foreign companies
to invest in high-tech and environmentally friendly projects.
They should also work together to increase trade promotion
activities, help the business community to take advantage of free trade
agreements, timely provide market forecasts and up-to-date information on
export markets while further simplifying administrative measures to reduce
customs costs and clearance time.
Property inventories slide in HCMC
Increasing demand has led to a remarkable decrease in property
inventories in HCMC in the last months of this year, according to the city’s
Department of Construction.
Data of the department showed more than 1,230 apartments were
delivered to buyers in October and November, and more than 3,130 in
January-November. The total number of condos sold in October-November was
equivalent to some 65% of apartment sales in the first nine months of the
year.
The department said there are more than 6,200 unsold
apartments and they mostly measure over 70 square meters and are located in
areas with unfavorable road access or unfinished infrastructure.
According to the Vietnam National Real Estate Association
(VNREA), the inventories of apartments, houses and land lots in
January-November are in decline, with apartments making up 75%.
Property experts ascribed the sharp fall in real estate
inventories to rising demand in the final months of the year, especially for
finished homes.
The successful transactions for apartments at property
exchanges in HCMC have soared 20-30% since the beginning of this quarter as
observed by the Daily. Small condos with affordable prices have sold well in
the past months.
Le Hoang Chau, chairman of the HCMC Real Estate Association
(HoREA), expected more remittances towards the year-end would help property
developers reduce their inventories as recipients can buy homes.
Tolls at An Suong-An Lac Station to surge next year
Vehicles running on the National Highway 1 section in HCMC
will have to pay new tolls which are 1.3 to two times higher than the current
levels at An Suong-An Lac Toll Station in Binh Tan District from early next
year.
The HCMC government has approved Infrastructure Development
Investment Joint Stock Company (IDICO) to apply the new tolls on the
14-kilometer section of National Highway 1 from January 1 next year to 2019.
Besides the toll hike, IDICO, the investor of the project to
upgrade the section, has suggested a road map for increasing tolls at the
station in 2020, 2025 and 2030 to recoup investment capital for the project
by 2033.
The upgrade project for the section running from An Suong
Intersection in District 12 via Binh Tan District to An Lac Roundabout in
Binh Chanh District is carried out in three phases.
The first phase costing more than VND831 billion (over US$38.8
million) was opened to traffic in December 2004 and the investor started to
collect tolls for this section in January 2005.
The second phase worth VND705 billion includes construction of
two interchanges and overpasses between National Highway 1, and provincial
roads 10 and 10B as well as a divider between lanes for autos and
motorcycles.
In the final phase, the investor is in the progress of
finishing an interchange between National Highway 1 and Road 2 (Huong Lo 2)
at a cost of VND407 billion.
The An Suong-An Lac section of National Highway 1 is the key
road linking HCMC and provinces in the southeastern, southwestern, central
and northern regions.
Time-buying tactics
The deep fuel price cuts early this week as a result of
tumbling global oil prices must have bucked consumers up since previous
reductions were insignificant.
After each round of fuel price reductions, there often appear
questions about when and how much transport costs would be lowered. However,
transport enterprises usually adopt time-buying tactics, saying they consider
the next move or argue it takes some time to change transport fees. Since the
beginning of the year, fuel retail prices have declined by a combined
VND7,760 per liter of gasoline, VND5,730 per liter of diesel and VND5,510 per
liter of kerosene to VND17,880, VND16,990 and VND17,400 respectively, the
lowest levels in four years.
According to the Price Management Department under the
Ministry of Finance, fuels account for 25-35% of transport costs for
gasoline-fueled vehicles and 35-45% for diesel-fueled automobiles. Meanwhile,
transport experts, the fee reductions last month, with 6-16% at coach
stations in
Many transport associations and enterprises nationwide say
they are reviewing input costs to determine new charges. Though the fuel
prices were cut sharply on Monday and local authorities nationwide have been
urged by the Ministry of Finance to strengthen the monitoring of transport
charges, transport enterprises have yet to make a move. They have excuses for
delays. To them, it is almost impossible to adjust their charges overnight.
Re-calculating costs and reporting new fares to the management
agencies are among what should be done before introducing new charges, the
news website Vietnamnet says, citing Nguyen Van Thac, chairman the Transport
Association in
On the side of the management of coach stations, leaders of
Giap Bat Coach Station and My Dinh Coach Station in
Similarly, taxi operators are also planning to revise down
their fares at the moment. The taxi fare reduction in HCMC could be around
VND500 per kilometer and according to them, once fares are changed,
taximeters should be tested again, a process which takes time, Tuoi Tre
reports, citing the chairman of the HCMC Taxi Association, Ta Long Hy.
Bui Danh Lien, chairman of the Hanoi Transport Association,
also points out a similar difficulty, telling VTC News: “Immediate fare
reductions are impossible.”
“Taxi companies with thousands of cabs in Hanoi want to apply
new fares early, but testing and adjusting taximeters takes some time and taxi
operators have to print new price labels,” Lien says, adding it normally
takes 10-15 days.
Given their long delays, the Ministry of Transport has taken
action by telling local transport authorities to set up teams to inspect
fares of enterprises to ensure the interests of customers and help lower
prices of other goods and services.
Instead of waiting for transport businesses to lower fees,
heavy sanctions should be adopted against those overlooking the interests of
consumers.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Hai, 29 tháng 12, 2014
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