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BUSINESS IN BRIEF 31/12
Thanh Hoa province to have new airport
The Vietnam Airlines Corporation and
The 600 billion VND (28 million USD) project is to include a
5,000sq.m terminal to handle 1.2 million passengers per year. Also, it will
be possible to enlarge the airport to receive 2 million customers per year,
noted officials.
The airport's construction is scheduled to be completed by
January 2016.
Each Vietnamese bears over US$950 public debt
On average, each Vietnamese is now bearing US$950.62 of public
debt, up 10.3% compared to last year’s figure. At this time, the global
public debts were US$55,014 billion.
Earlier, at 9:00am on October 14,
A year earlier,
Global Debt Clock predicted that next year
Dong Nai’s coffee exports triple
The southern
With an average price of over US$1,200 per tonne, coffee
exports brought US$560 million to the province, added the department.
Quanh Van Duc, General Director of Tin Nghia Company, one of
the two large coffee exporters in the province, said that during the
2013-2014 crop, the firm shipped nearly 117,000 tonnes of coffee abroad and
earned US$226 million, representing 109.2% and 119% of its yearly targets,
respectively.
He revealed that the company has linked with around 1,100
farmer households in Xuan Loc and Cam My districts to produce coffee on 1,000
ha in accordance with the international 4C Code of Conduct.
By the end of 2014,
Coffee grown under this standard now covers an area of 20,000
ha, doubling the 2013 area.
The 4C Code of Conduct is a baseline standard for
sustainability in the coffee sector. The code comprises 28 social,
environmental and economic principles for the sustainable production,
processing and trading of green coffee.
Vietnam-Brazil’s 11-month trade hits nearly US$3 bln
The two-way trade between
During the period,
The two-way trade is expected to achieve over US$3.2 billion
for the whole year, with
Economic experts said that if trade promotion activities and
measures to expand market are further intensified, the two-way trade will be
likely to come up to nearly US$4 billion in 2015, and over US$5 billion in
two or three coming years. The Vietnam-Brazil trade turnover is forecast to
climb up between US$9-10 billion by 2020.
According to the Export-Import Department under the Ministry
of Industry and Trade, the export growth between the two nations remains high
thanks to
Quality of products vital to stand firm in German market
It is advisable for Vietnamese businesses to create
specialised and high-quality products at competitive prices and build their
own trade names to make inroads in such choosy market as
The bilateral trade hit US$7 billion in the first 11 months of
this year, of which
If the Vietnam-EU free trade agreement is signed and most
tariffs are removed, the quality of products will be the key competitive
factor, Binh said. He explained that though
Therefore, Vietnamese enterprises should shift to quality
competition from price competition to strengthen their foothold in the
European country.
In 2015, the Vietnamese Embassy and Trade Office in
They will also work with Vietnamese and German government and
non-government offices to promote trade activities in
Industrial sector recovers, bracing for challenges ahead
The industrial sector has shown signs of recovery in the past
year but a shedload of challenges lying ahead need to be addressed to make it
a pillar of the economy, officials said.
Minister of Trade and Industry Vu Huy Hoang said with the
growth rate rising throughout the year, from 6.9 percent in October to 7.5
percent in November, there are grounds for optimism about the development of
industrial production in 2015.
Electricity production and distribution led the upward trend
with an average increase of 11.7 percent, followed by the processing and
manufacturing areas, which posted a growth of 8.6 percent.
However, Truong Thanh Hoai, deputy head of the Ministry of
Trade and Industry’s Heavy Industry Department, said despite the growth, many
problems remain.
He noted that industrial production is still focusing on
assembling and processing without many products with added value, thus
limiting locally-made products’ competitiveness. Industrial production in
general and the supporting industry in particular have not attracted
investment, while the government’s investment has not been enough to create
breakthrough in the sector.
According to Hoai, in the long-term, the industrial sector
should shift strongly to products of highly added value with contribution to the
economy in order to reduce import surplus and create jobs.
The steel industry is believed to be a key in reducing import
surplus, as the country has to spend US$9 billion on importing approximately
14.5 million tonnes of steel of all types, according to figures from the
Heavy Industry Department.
In addition, experts also said the development of the
supporting industry will not only help reduce imports but also change the
overall situation in the industrial sector. The Government recently issued a
range of policies designed to encourage investment in the supporting
industry.
In 2014, HCM city made significant breakthroughs in attracting
foreign direct investment (FDI), with the US$1.4 billion dollars Samsung Electronics
project leading the country in terms of garnering FDI.
Another key project of Nidec Sankyo of
According to Hidetoshi Simada, director general of Nidec
Sankyo, the company also has its eye on widening production to include
components for air conditioners, refrigerators, cars, and water heaters for
Japanese firms in
The year’s success was attributable to the city focus on
administrative reforms, boosting human resource development and upgrading
infrastructure, especially for the service and high-tech industries, said Le
Hoang Quan, chairman of the HCM City People’s Committee.
City officials also held a high number of face to face
meetings with foreign investors to get a solid understanding of their
concerns and to provide them the assurances the city would create the best
possible conditions, particularly in the industrial and processing zones.
Since early this year, Saigon Hi-tech Park (SHTP) has
attracted 70 projects, fulfilling its first phase targets. The second phase
is currently underway on a total area of more than 600 ha, with dozens of
investors having registered so far, Quan added.
Quan underscored that the top priority would be given to
investors in the high-tech industry, as well as those projects on information
technology, telecommunications, new materials, and automation in the upcoming
year.
Dr. Le Hoai Quoc, head of the SHTP management board, in turn
said the city would also offer incentives for those businesses engaging in
technology transfer and providing spare parts for Intel and Samsung.
Investors currently have invested more than US$2 billion in
the SHTP, helping HCM City take the lead the nation in FDI attraction (around
US$3.2 billion) for 2014.
Localities asked to exert more efforts for 2015’s growth
Prime Minister Nguyen Tan Dung has urged all ministries,
sectors, and localities to determinedly safeguard national sovereignty as
well as a peaceful and stable environment for national development in 2015.
He made the request while chairing over the Government’s
video-teleconference with localities across the country on December 29 in
Ministries, sectors, and localities must launch drastic moves
to successfully realise socio-economic development goals and tasks set forth
for 2015 by the Party Central Committee and the National Assembly to wrap up
the 2010-2015 plan with the highest results.
Fostering foreign affairs, promoting proactive international
integration, gathering international support, creating an environment
favoured the nation-building and defence, and organising the Party Congress
at all levels are other tasks for 2015, the PM noted.
Reviewing 2014’s socio-economic performance, he said the
economy dealt with difficulties and challenges sparked by the complicated
development of global and regional economies and politics, citing
Almost all targets set for 2014 were realised, with all the
three key fields of industry, agriculture and services making a recovery and
gaining stable growth and GDP growth reaching 5.98%, higher than the set
goal.
Works related to the economic restructuring, growth model
change and the improvement of competitiveness and business climate were
promoted and reaped good results. Foreign investment poured into the country
increased sharply, reaching about US$21 billion in newly-registered capital,
which went mostly into the hi-tech industry.
During the year, political security and social order were
safeguarded, while external activities were intensified, significantly
contributing to creating a favourable environment to spur socio-economic
development.
The PM pointed out that the national macro-economy is,
however, not really stable, the quality, efficiency and competitiveness of
the economy is yet improved much, the rate of poor households in ethnic
minority areas remains high, and environmental pollution is facing many
localities.
He said localities should learn from these limitations and
roll out more efficient measures to realise the objectives outlined for 2015.
By December 15, 11 Red River Delta provinces had attracted
5,207 foreign direct investment (FDI) projects worth US$63 billion,
accounting for 25% of the country’s total FDI capital inflows.
According to the Foreign Investment Agency under the Ministry
of Planning and Investment,
Bac Ninh ranked third with 548 projects worth US$7.46 billion,
followed by Hai Duong with 320 projects worth US$6.48 billion, and Quang
Ninh, Vinh Phuc, Hung Yen, Ninh Binh, Ha Nam, Nam Dinh and Thai Binh
provinces.
The
The agency reported that the processing and manufacturing
industry continued to be the most attractive sector for FDI with more than
2,400 projects worth US$32.6 billion.
The property sector ranked second with 126 projects
capitalised at US$10.2 billion, followed by the construction sector with 580
projects worth US$4.2 billion.
RoK spawns manufacturing growth of Vietnam
According to the Foreign Investment Agency (FIA) under the
Ministry of Planning and Investment, as of December 2014 the RoK has taken a
controlling ownership interest in 4,110 FDI projects.
The cumulative total of registered capital for the projects is
in excess of US$37.23 billion.
Korean investors favour the manufacturing industry having
registered a staggering 2,497 FDI projects at nearly US$23.8 billion.
The manufacturing sector is trailed by the real estate sector
with a hefty 81 projects at US$7 billion and the construction sector with 562
projects at US$2.4 billion.
They have invested heavily in 52 out of 63 provincial centres
of the country.
Foreign currency loans stimulate credit growth
Export companies preferred loans in foreign currencies than in
the Vietnamese dong due to a stable foreign exchange policy and lower
interest expenses.
Although the interest rate of loans in Vietnamese dong was cut
considerably this year, it remained about 30 percent higher than the interest
rate of loans in foreign currencies.
Experts said that loans in foreign currency became a major
stimulator of credit growth.
Statistics showed that as of September 22, the outstanding
loans in foreign currencies increased by more than 20.7 percent, five times
the amount of outstanding loans in Vietnamese dong.
Several export companies said that they preferred loans in
foreign currencies due to the low interest rate, about 3 to 4 percent
annually, with the State Bank of Vietnam's pledge to control the exchange
rate fluctuation within the +/-2 percent amplitude from late 2011.
According to Tran Quoc Manh, General Director of Sadaco, the
interest expenses for loans in foreign currencies were much lower than loans
in Vietnamese dong. This resulted in rising demand for loans in foreign
currencies, especially at the end of the year to make payments, he said.
Truong Thi Thuy Lien, director of a footwear and leather
export company in southern Binh Duong province, said that with the
Government's stable foreign exchange policy, companies were assured of safety
from the risks of exchange-rate fluctuations.
The central bank on December 24 pledged to persist with its
stable foreign exchange in 2015. Accordingly, the depreciation of the
Vietnamese dong against the US dollar will be maintained at less than 2
percent.
Previously, the central bank's Deputy Governor Nguyen Thi Hong
had said that the bank will continue to allow credit institutions to give
loans in foreign currencies to export companies and petrol wholesalers till
the end of 2015, after reviewing the foreign currency market and next year's
economic growth target.
An official document to replace Circular No 29/2013/TT-NHNN on
loans in foreign currencies was expected to come out this week.
Still, several experts warned that strong foreign currency
credit growth could put pressure on liquidity.
Fruit and vegetable trade surplus hit US$956 mil
The association said that in December alone, fruit and
vegetable exports are predicted to hit US$120 million, bringing total export
turnover of these products this year to US$1.477 billion, a sharp increase
over last year’s figure of US$1.073 billion.
Meanwhile, imports reached an estimated US$42 million in December,
bringing total import turnover of fruit and vegetables to US$521 million this
year, a 28.5% increase from a year earlier. These positive results brought
the fruit and vegetable sector a trade surplus of US$956 million this year.
China took the lead of Vietnam’s top ten fruit and vegetable
importers in the first ten months of the year (26.43% of market share),
followed by Japan (5.05%), the US (4.02%), the Republic of Korea (3.96%), the
Netherlands (2.65%), Russia (2.53%), Taiwan (2.34%), Thailand (2.08%),
Malaysia (2.06%) and Singapore (1.74%).
US – the largest market for Vietnamese products
The
According to the latest .report by the General Statistics
Office (GSO),
The
Vietnamese firms invest over US$1.6 bil abroad in 2014
Vietnamese businesses have pumped more than US$1.6 billion in
investment projects abroad this year, according to the Ministry of Planning
and Investment’s Foreign Investment Agency (FIA).
The statistics from the FIA have revealed that they invested
in some 108 new investment projects abroad this year with a capital
investment of over US$1.04 billion.
In addition, 14 projects increased their capital investment by
US$564 million, bringing the total newly registered and supplementary capital
to over US$1.6 billion in 28 nations and territories.
The military-run Viettel group one of the Vietnamese businesses
pouring huge investment overseas and is set to invest US$1 billion in 3G
network in Tazania and some US$800 million in Myanmar.
The FIA said around US$1 billion of capital investment abroad
have been disbursed this year.
EC drops anti-subsidy probe into PSF products
Following a 12 month enquiry, the European Commission (EC) has
recently decided not to impose anti-subsidy duties against Vietnamese imports
of polyester staple fibres (PSF), according to the Vietnam Competition
Authority (VCA).
In particular, the VCA found that
Earlier on December 19, 2013, the European Man-made Fibres
Association lodged a complaint requesting the EU impose anti-subsidy duties
on PSF exports from
The examination period was from October 1, 2012 to September
30, 2013. Accordingly,
The MoIT effectively co-ordinated with relevant agencies and
localities to respond fully and accurately to the questionnaire sent by the
EU a VCA representative said, adding that after one year of looking into the
matter the EU has quashed the complaint, finding it has no basis in fact.
This concludes the first EC’s anti-subsidy investigation into
Tra fish export valued 1.7 billion USD in 2014
The association said 2014 is the third successive year that
the shipment of the fish has been fluctuating around the 1.7-billion-USD
mark.
According to VASEP, tra fish export began recovering since
June and has been rising throughout the rest of the year in such markets as
It, however, faced a continuous decline in the two largest
markets, namely the European Union and the
Tran Van Linh, VASEP Vice Chairman, said the current difficult
situation resulted partly from the uncontrolled expansion of tra
fish-breeding area in previous years.
A slow growth of the key catfish markets posed another challenge
to the sector’s export which has already been struggling with the shrinking
profit caused by low-price trend, Linh said.
Moreover, the export was also affected when tra fish
enterprises have been working to restructure themselves towards raising further
the reputation and value of the fish products, Linh added.
The
The tra fish sector will have to compete against other
supplies of white-flesh fish such as cods and tilapias, said VASEP.
In 2014, the Mekong Delta has reserved 5,500 ha for farming
tra fish, which turned out 1.1 million tonnes in output.
Vietnamese tra fish products have been shipped to 150
countries and territories across the globe.-
Industrial
production index shows strong performance
The country's industrial production improved this year with an
estimated year-on-year rise of 7.6 percent, reported the General Statistics
Office (GSO).
The industrial production index (IIP) showed a tendency to go
up in the remaining months of this year, the office said. It also noted that
the country's IIP rose by 5.3 percent in the first quarter. It continued to
increase by 6.9 percent, 7.8 percent and 10.1 percent in the second, third
and fourth quarters.
GSO attributed this year's IIP growth to the significant
rebound of the processing and manufacturing sector, which recorded a strong
rise of 11.1 percent in consumption. Another factor that boosted the IIP
growth was the effective contribution of over 7,000 new enterprises that
became operational this year.
Some industrial products posting high IIP increases during the
year included handsets (up by 167.5 percent), automobiles (29 percent), fresh
milk (21 percent) and footwear (19 percent). Televisions (18 percent), cloth
(16.9 percent) and electricity (12.7 percent) were included as well.
However, other products saw lower growth rates, such as animal
feed, which only went up by 3.2 percent, and crude oil, which went up by 1.8
percent. Meanwhile, some products recorded industrial production decreases,
such as motorbikes, which went down by 8.6 percent; liquid petroleum gas, by
8.3 percent; and powdered milk, by 3.8 percent.
The processing and manufacturing sector, which comprises
approximately 70 percent of the country's total industrial output, still
experienced a high increase in inventory index at 10 percent despite the
encouraging consumption improvement. This observation proved that enterprises
still contend with difficulties in terms of selling their products.
Major industries that showed higher levels of inventory
included paper production (89.5 percent), shipbuilding (55.8 percent),
beverages (41.1 percent) and food processing (40.1 percent). The metal
production industry (38.3 percent) indicated the same performance.-
Hai Phong port handles 19.6 mln tonnes of goods in 2014
The Hai Phong port in the northern city of the same name
handled 19.6 million tonnes of goods in 2014, up by 4.2 percent from a year
ago and generating 1.56 trillion VND (73.32 million USD) in revenue.
The result is attributed to the application of a new
management model, facilitating customers. The port established a hotline to
swiftly address clients’ difficulties and applied the one-stop shop
mechanism, said Nguyen Hung Viet, Director General of the Hai Phong Port.
The port built new port system of seven wharves with a total
length of 1,405m in Dinh Vu, capable of handling 15 million tonnes of goods a
year.
Viet said the port could receive 220m-long, 40,000 DWT
vessels.
In addition to the
The complex of ports in
More businesses resume operation in 2014: GSO
As many as 15,419 enterprises nationwide resumed their
operation in 2014, up 7.1 percent from a year ago, according to Director
General of the General Statistics Office (GSO) Nguyen Bich Lam.
During the year, 74,842 new firms were registered with a total
capital of 432.2 trillion VND (20.31 billion USD), representing a
year-on-year drop of 2.7 percent in the number of firms but an 8.4 percent
rise in capital.
Average registered capital of each new enterprise was 5.8
billion VND, 11.5 percent more than the figure in 2013, said Lam.
The new firms were set to employ 1.09 million labourers, up
2.8 percent from 2013.
In the year, 67,823 firms were, however, dissolved, mostly
small-sized, he noted.
Pham Dinh Thuy from the GSO’s Industry Statistics Department
attributed the situation to the firms’ small investment capital, poor
governance, and weak competitiveness.
According to the GSO Director General, enterprises should
improve their productivity by applying advanced technology to generate high
value products winning consumers, especially local ones.
PetroVietnam
upbeat despite falling oil price
The Vietnam National Oil and Gas Group (PetroVietnam) has said
that it will continue monitoring global oil prices closely in order to adjust
oil exploration and production, ensuring national energy security as well as
the group's economic benefits.
At a meeting in
"It's not good to see the oil price plunging too low, but
at 60-70 USD per barrel, it's not a big deal," Son said.
However, he added that if global oil prices fall below 60 per
USD barrel, PetroVietnam will consider stopping production at the oil fields
where production cost exceeded sales price.
The average production cost at most PetroVietnam oil fields is
around 30-37 USD per barrel, according to Son. At four oil fields, production
cost is more than 60 per barrel USD but the production capacity there is
small, only around 450,000 tonnes in 2015.
PetroVietnam produced 17.39 million tonnes of oil in 2014, an
increase of 7.3 percent over the group's yearly target, while gas production
for the first time hit 10.2 billion cubic metres, 7.4 percent over the
target. Oil and gas reserves also surpassed the goal by 37.5 percent this
year to reach 48.11 million tonnes of oil equivalent.
The group discovered nine new oil and gas places and began
exploration at eight.
PetroVietnam Deputy General Director Le Minh Hong said the
group met all business targets ahead of schedule despite the difficult
domestic and global economic environment.
The whole group, including affiliates and subsidiaries, saw
revenue of 745.5 trillion VND (34.8 billion USD), exceeding the target by
11.8 percent. Revenue of the group itself was 370 trillion VND (17.3 billion
USD). Total profit was 46 trillion VND (2.1 billion USD). The group
contributed 178.1 trillion VND (8.3 billion USD) to the State Budget.
Production of electricity, fertiliser and petroleum exceeded
targets by 5-23 percent. Electricity production reached 16.48 billion kWh, a
rise of 5 percent over the plan. Fertiliser production hit 1.64 million
tonnes, up 7.7 percent, and petrol production reached 5.71 million tonnes, up
23.2 percent.
In 2015, PetroVietnam aims to produce 26.6 million tonnes of
oil equivalent, including 16.8 million tonnes of oil and 9.8 billion cubic
metres of gas.
The electricity output target is set at 18.50 billion kWh,
fertiliser production at 1.525 million tonnes and petrol production at 5.55
million tonnes.
The group also prepared revenue scenarios depending on global
oil prices ranging from 515.1 trillion VND (24 billion USD) at the oil price
of 60 USD per barrel to 718.4 trillion VND (33.6 billion USD) at the oil
price of 100 USD per barrel.
On the issue of investment overseas, Son said overseas
investment is a long-term strategy and should not be affected by short-term
oil price fluctuations. However, the group will strengthen risk management
for existing projects while seeking opportunities to buy oil fields overseas
at cheap prices.
SSI
holds over 20 percent stake in PDN
Saigon Securities Inc (SSI) bought 111,730 shares, with an
option to purchase another 615,180 shares, in Dong Nai Port Joint Stock
Company (PDN) on December 25 and 26.
At the same time, SSI sold 15,000 PDN shares.
Following the transaction, SSI now owns more than 2.47 million
shares, or 20.1 percent of the stake in PDN, which specialises in
transportation and warehousing in the southern
With the stock purchase, PDN and SSI became associate companies.
The largest shareholder in PDN is Sonadezi Corporation, with a
51percent stake.
Previously, SSI has been associated with other eight
companies, including Pan Pacific Corporation, Binh Thanh Import - Export
Production and Trade JSC, Southern Seed Corporation , Long An Food Processing
Export Joint Stock Company, Electronics Communications Technology Investment
Development Corporation, Transimex-Saigon Corporation, Bibica Corporation and
Vietnam Fumigation Joint Stock Company.
On December 29, PDN shares closed at 35,200 VND (1.65 USD),
while SSI shares ended at 25.9 VND (1.21 USD ) on the HCM City Stock
Exchange.
Garment sector leads nation in terms of export
The garment and textile sector continues to top the country in
terms of export thanks to right strategies in business administration and
local firms’ increasing prestige in the world market.
The sector’s export value is likely to hit a three-year high
of 24.5 billion USD, surpassing the set target by nearly 1 billion USD.
This is the result of the whole sector’s joint efforts in
orienting production strategies and selecting export markets as well as
raising the rate of locally made materials to over 50 percent, said Vice
President of the Vietnam Textile and Apparel Association (VITAS) Le Tien
Truong.
Vietnamese garment and apparel products have gained a firm
foothold in almost all foreign markets, especially the
Economists said that signed and pending free trade agreements
(FTAs) are opening up a lot of good chances for the sector to grow further as
import tariffs may drop to zero in many markets.
Tax incentives to be brought by the Trans-Pacific Partnership
(TPP) Agreement, expected to be signed next year, will also create favourable
conditions for garment businesses to expand their presence in the
For sustainable development, Deputy Minister of Industry and
Trade Ho Thi Kim Thoa suggested enterprises establish their own trademarks
and meet importers’ requirements on product quality, chemical management and
social responsibility.
Better quality, prices to turn local products into consumers’
first choice
Domestic businesses need to focus on applying cutting-edge
technologies to improve their product quality and cut down prices so that
made-in-Vietnam products can truly become the first choice of Vietnamese
consumers.
So said participants at a workshop held by the
Duong Duy Hung, Deputy Director General of the Ministry of
Industry and Trade (MOIT)’s Domestic Market Department, pointed out to
numerous weaknesses of domestic production such as the monotony of product
design and diversity, uncompetitive prices, businesses’ neglect of goods
promotion and consumer services, the lax connection between manufacturers and
sellers, and the slack market watch.
Raising competitiveness must be conducted regularly, continuously
and on the long-term base, said VPBA Vice Chairman Ngo Van Diem, adding that
He suggested the country help enterprises increase their
competitiveness while companies also need to partner with one another,
abolish the mindset of hunting for short-term profits, and invest more in
personnel training.
According to a recent survey on outcomes of the five-year
implementation of the campaign “Vietnamese people prioritise the use of
Vietnamese goods”, 92 percent of questioned consumers were interested in the
drive, 57 percent of them recognised the campaign’s communication efforts,
and 63 percent prioritised using domestic products. This survey was carried
out by the Party Central Committee’s Commission for Communication and
Education.
The amount of textile and garment materials imported from
There is also an increasing trend, especially in cities, that
local consumers buy domestically made apparel although smuggled products are
dwarfing local ones.
While some foreign brands are dominating the market of formula
milk, most of other products such as yogurt and condensed and fresh milk on
sale are made by Vietnamese companies like Vinamilk and TH True Milk, the
report shows.-
SOE restructuring needs to be hastened in 2015: Deputy PM
Deputy Prime Minister Vu Van Ninh has asked ministries,
localities, and businesses to accelerate the restructuring of State-owned
enterprises (SOEs) so as to fulfil the plan for the two years of 2014 and
2015.
Ninh, who is also the head of the Steering Committee for
Business Renovation and Development, chaired a meeting on SOE restructuring
in
A report at the event read that the SOE restructuring with a
focus on economic groups and corporations was speeded up and made
considerable progress in 2014.
Among 479 SOEs subject to the restructuring in 2014 and 2015,
143 had been equitised by December 25, while 14 others were merged, three
dissolved, three sold, and three filed for bankruptcy.
More than 6.07 trillion VND (about 289.05 million USD) of
investment were divested from 233 firms, six times higher from a year
earlier, which generated over 8 trillion VND (380.95 million USD) in payment,
1.3 times the face value.
However, the number of equitised businesses and the divested
sum were still lower than expected while some policies and mechanisms were
not timely issued or amended, the meeting heard.
Officials said in 2015, relevant agencies need to overhaul
restructuring measures, complete policies guiding the implementation of the
Law on Management and Use of State Capital in Production and Business and the
revised Law on Enterprises.
Ministries, localities, and State-owned groups and
corporations also need to push qualified enterprises to conduct initial
public offering (IPO). Meanwhile, the others will be turn into joint stock
companies with shareholders being the State, the State Capital Investment Corporation,
trade unions, and employees, among others.
SOE restructuring is part of economic restructuring stated in
the National Assembly’s Resolution No.10/2011/QH13 on the socio-economic
development plan for 2011 to 2015. Public investment and the banking system
are also being restructured.
Jetstar Pacific to launch five more domestic routes
The low-cost carrier Jetstar Pacific will launch five more
domestic routes early next year to meet the increasing travel demand and
economic exchange between the areas.
On February 1, 2015, the Ho Chi Minh City-Dong Hoi and HCM
City-Quy Nhon services will begin with one flight a day and three fights a
week, respectively.
On February 2, flights between the central highland city of
The Ho Chi Minh City-Tuy Hoa route will be launched later, on
March 30, with three flights a week.
The carrier will use Airbus A320 aircraft for all the five
routes.
Beside the domestic routes, the airline also plans to
introduce a new daily service between
This is the second route linking
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Tư, 31 tháng 12, 2014
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