Kinhbac English

BUSINESS IN BRIEF 10/2

Exports to Canada pick up nearly 35%

Vietnam

’s exports to Canada exploded by 34.55% on- year to US$2.08 billion in 2014, according to the Ministry of Industry and Trade.

Among key export items, garments saw a yearly rise of 25.9% to US$492.51 million, constituting 23% of the total value. Meanwhile, the country grossed US$263.25 million from aquatic products, up 45.8% from a year earlier.

Canada

is considered a highly lucrative market for Vietnamese products. Two-way trade between the two nations has enjoyed sustainable growth over the past year and is expected to hit roughly US$3 billion this year.

Vietnam

is among the 25 countries benefiting from support programmes for accessing the Canadian market and it is also one of the six key target countries prioritized in the North American nation’s education cooperation.

Changes in investment promotion in 2015

Many changes in investment promotion activities and in attracting foreign direct investment (FDI) will take place this year.

Promotion programmes will focus on infrastructure development, agriculture, and high-tech to anticipate advantages brought about by free trade agreements, including the Trans-Pacific Partnership (TPP).

They will also concentrate on key markets like Japan, the Republic of Korea, Taiwan, Singapore and the G7 nations. In addition, promotion activities will access major groups, banks, investment funds, investment consulting firms and business associations.

The basic principle is to ensure the national interests and restructure the economy after the new growth model.

Ambassador emphasises preparations ahead of ASEAN Community formation

Vietnam

needs to make relevant and specific preparations to raise public awareness of the formation of the ASEAN Community, enhance the country’s economic capacity, and improve its legal system to be able to take full advantage of opportunities and respond to challenges following the Community’s establishment in late 2015, according to a Vietnamese diplomat.

In a recent interview granted to the Jakarta-based Vietnam News Agency correspondent, Head of the Vietnamese permanent delegation to ASEAN Ambassador Vu Dang Dung stressed that the Community will bring both development opportunities and challenges for Vietnam and the other members of the bloc.

However, the majority of small- and medium-sized enterprises in Vietnam have not accessed information on opportunities to be generated by the ASEAN Community, he said, adding that he hopes communication campaigns would be carried out more effectively to expand public awareness of resulting benefits.

The second major preparation is to enhance the capacity of the economy and the business circle, as well as each official and person, the ambassador said. He noted that there is still a substantial development gap between Vietnam and other countries in the region, which is reflected in a low ranking in labour productivity, creativity and human resource quality (27.2 points out of the total 100 points), and the remarkable difference in per capita income (US$1,908 in Vietnam as against US$3,837 for ASEAN as a whole).

The development gap limits Vietnam’s capacity to fully exploit benefits from the regional economic connectivity and its contributions to ASEAN strategic initiatives and cooperation.

Thirdly, the ambassador underlined the need for the country to modify its legal regulations to improve compatibility with those of other ASEAN countries, creating equal opportunities for Vietnamese businesses and people to benefit from the regional links, including price, quality of goods, education, and health services.

Speaking on Vietnam’s priorities in ASEAN activities this year, Ambassador Dung said the top task will be to work closely with other ASEAN member nations to realise the target of establishing the ASEAN Community by December 31, 2015.

Additionally, Vietnam will join with other regional countries to design a post-2015 ASEAN development vision, contributing to bolstering links within the group, Dung stated.

At the same time, the country will work to promote and deepen the bloc’s relations with existing counterparts as well as establish diverse ties with new potential partners, he affirmed.

SMEs need to revamp strategy for integration

Small and medium-sized enterprises (SMEs) in Vietnam need step up their efforts and revise their strategy for improving competitiveness in the regional and global supply chains, speakers at a conference in HCM City recently said.

They stressed the need for SMEs to take advantage of internal human and financial resources to overcome difficulties and challenges posed by both regional and global integration.

Moreover, they suggested the State should provide more incentives to facilitate them making the transition.

The ASEAN Economic Community (AEC) is set to be formally established by the end of 2015 in the context of a year in which the nation is also expected to sign six other important free trade agreements (FTAs).

Speakers at the conference said these FTAs will force SMEs to become more competitive or else they simply will go out of business. The other alternative is that they will be stuck in the lowest rung of the chain doing assembly and outsourcing for foreign companies.

They said the lackadaisical attitude by many SMEs is why there is so much concern by businesses and government agencies about the nation’s preparedness for integrating widely and deeply into the world economy.

The country’s SMEs have a low comparative advantage coupled with limitations in business vision and strategy, and lack of financial resources they said, which puts them at a severe disadvantage competing for market share.

According to the speakers, the world economy is likely to become completely integrated over the next few years. Therefore, they said it is vitally important for Vietnamese SMEs to start preparing as soon as practical.

Speaking at the conference, Deputy Prime Minister Pham Binh Minh said Vietnam is dealing with newly-emerged issues in its integration process and the nation’s SMEs need to sharpen their competitiveness.

Minh advised local businesses to install the latest technologies and take a more proactive role in negotiating cooperation agreements with foreign partners to acquire the necessary funds to invest in advanced technologies.

The strategy for SMEs, with their limited finances, technologies, and market understanding, should be to work closely with multinational companies involved in the regional and global supply chain to learn international practices before thinking about directly trying to compete in foreign markets.

For her part, Nguyen Nguyet Nga, Head of the Vietnam Ministry of Foreign Affairs’ Multilateral Economic Cooperation Department, said since early 2015, the country has been entering a new period of development.

Having a clear business strategy, developing strategic products, and understanding target markets are among the factors that enable businesses to access the global market, she said.

Nga also recommended Vietnamese SMEs to devise along-term development strategy in a creative and sustainable manner. In the reform process, Vietnam should renovate institutions, fine-tune the legal framework and increase capacity building.

Last but not least, Central Institute for Economic Management (CIEM) Deputy Director Dr. Vo Tri Thanh said to achieve successful integration, it is essential to have strong support from the government and effective cooperation mechanism between state agencies, businesses and the whole community.

Experts float ideas for tra fish industry changes

The proposed restructure of the tra fish sector should focus on improving quality and diversifying products and on export markets and processors' finances and management, experts told a seminar held in Dong Thap Province on Thursday.

Le Vinh Tan, deputy head of the Central Economic Committee, said the industry has been showing signs of decline in the past five years and faced with several challenges like decline in exports to major markets, trade barriers in some markets and unhealthy competition among processors and farmers.

Tra catfish was a major national product, and so the restructuring and sustainable development of the industry must be done at every stage from zoning and farming to processing and consumption, he said.

The survival of the industry depended much on developing export markets, which account for most of the output, he said.

Vu Trong Binh, head of the Central Economic Committee's Local Economy Department, saying the industry is plagued by oversupply, called for precisely identifying the area needed for breeding tra and setting up a centre to research and improve the quality of tra fry and provide market information about the fish.

Duong Quoc Xuan, deputy head of the Southwest Region Steering Committee, said restructuring of the tra industry was one of the components of a regional linkage project covering the Mekong Delta's three major products – rice, shrimp and fish, and fruits.

Delta provinces should co-operate to review the tra breeding area and trade promotion activities and study tra processors to properly restructure the sector, he said.

Participants told the seminar that the delta provinces should follow a Government decree zoning land for pangasius farming and regulating processing and export.

Truong Thi Le Khanh, chairwoman of Vinh Hoan Corporation, said the restructure of the industry should cover the quality of tra fry, use of advanced farming techniques and diversifying products.

Besides, processors would have to improve their financial capability and business strategies, she said.

The Government should offer tax breaks and have flexible policies, she said.

Tra is bred on 6,000ha of ponds, mostly in the delta, according to the Viet Nam Pangasius Association.

Last year the country exported US$1.76 billion worth of tra products, almost unchanged from 2013.

Firms urged to study ASEAN Community

Vietnamese enterprises must learn more about the ASEAN Economic Community to prepare for the challenges it will present when it takes effect at the end of the year, Deputy Prime Minister Pham Binh Minh said at a meeting yesterday in HCM City.

Minh, who is also Minister of Foreign Affairs, said: "We understand that the ASEAN Economic Community will be established by the end of 2015, but we have lived in the community in a way for years. The year 2015 is the time when the final commitments in the community will be realised. The difficulty faced by Viet Nam now are that people have yet to understand the integration process," he said on the sidelines of the seminar, which discussed international and regional integration.

Between 60 and 70 per cent of Vietnamese do not have a thorough understanding of ASEAN, far higher than the rate in other countries.

Minh said that several major opportunities and enterprises of other countries in ASEAN have seized the opportunity to develop trade, while Vietnamese enterprises have not performed as well.

According to the Deputy Prime Minister, Vietnamese enterprises have given more priority to markets outside ASEAN such as the US and EU.

Also speaking at the seminar, Nguyen Nguyet Nga, head of the Standing Secretariat of APEC 2017 under the Foreign Affairs Ministry, said Viet Nam would face competition at all levels in the new EC.

Enterprises need to better understand the laws and regulations in the ASEAN EC, especially when trade disputes occur, Minh said.

Viet Nam

has competitive advantages in garments, footwear and agricultural products. However, enterprises must improve quality and meet strict standards required by other countries, including rules on environment and labour, he added. The government has supported local enterprises by developing policies to create opportunity for enterprises, and devising laws on enterprises and investment.

Laws have created favorable conditions for enterprises, he said, adding that companies should raise their concerns. The government also plans to help companies with capital and human resources, as well as new infrastructure. In a related matter, Minh said that the Trans-Pacific Partnership negotiations might conclude in early 2015, and that Viet Nam and other countries had reached agreement on a number of issues. However, he did not predict when the TPP would go into effect.

Khmer farmers reap profits from switching to corn

Thousands of Khmer ethnic minorities in the Mekong River Delta province of Tra Vinh are expected to escape poverty after taking part in a farming project that nearly tripled their income.

The project promoted the shift from low-yield rice cultivation to corn-seed production with advanced cultivation and processing technologies in the districts of Cau Ngang, Tra Cu, Chau Thanh and Duyen Hai.

The farming model is expected to create many jobs for low-income residents by including them in the value chain of the company, from cultivation to harvest to processing.

Khmer farmers involved in the project business venture are trained by Southern Seed Corporation (SSC) in seed-corn cultivation techniques and F1 hybrid-corn production.

This business partnership has helped increase the income of Khmer farmers by roughly 60 per cent.

With support from the Viet Nam Business Challenge Fund, SSC has deployed a VND37.5-billion (US$1.7 million) project (including VND7.8 billion ($371,400) invested by VBCF) and produced satisfactory results.

During the winter-spring crop in 2013 and 2014, the company signed a contract to produce corn seeds with 1,200 households on an area of 604 hectares of land.

Khmer farmers contributed more than 80 per cent of the project's agreement on corn seeds.

The crops produced 3,239 tonnes of corn with total value of VND25.6 billion ($1.2 million).

After harvesting, the farmers' average income was VND42.3 million (US$2,000) per hectare of F1 corn.

After processing, the company collected 1,609 tonnes of F1 seed corn sold in domestic and Southeast Asian markets.

The model applied to other crops such as rice paddy and vegetables in Cau Ngang and Chau Thanh Districts also produced good results.

Last Friday, the company opened a seed-processing factory in Long Duc Commune in Tra Vinh City with the capacity of 2,000 tonnes of seeds every year or 200 tonnes of corn each batch in the province. The area is home to more than 30 per cent of Khmer people in Viet Nam.

According to the company, another factory with a capacity of 40 tonnes for each batch is operated by Cau Ngang District's Nhi Truong Co-operative.

With success from the last winter-spring crop, besides 604 ha for F1 corn-seed production, the inclusive business model has been expanded to 58.5 ha of green beans, 34.7 ha of paddy and 1.7 ha of vegetables in Cau Ngang, Tra Cu, Chau Thanh and Duyen Hai districts, home to 70 per cent of Khmer people living in Tra Vinh.

In Tra Vinh, the VBCF and SSC's project plans to develop 1,100 hectares of F1 hybrid corn area, and provide seeds, finance and technical assistance for 2,200 local farmers.

Hang Phi Quang, SSC's chairman and CEO, said the project was expected to help local Khmer farmers to overcome poverty.

The model helps farmers increase income to VND20 million (US$950) per hectare each crop.

The model, which provided farmers with seeds, finance and technical assistance to develop F1 hybrid corn area in Tra Vinh, would be scaled up to other provinces in Mekong Delta to help farmers overcome poverty, Quang said.

Converting to corn cultivation from paddy helps to triple profits for the farmers.

Daniel Oporto, Agriculture Sector leader of Netherlands Development Organisation, which manages VBCF, said co-operation between the company and farmers had been a successful model for farmers and the country.

"Farmers can increase their income, because they are moving from rice production to corn production. And it is the best way when they work with a company that provides them knowledge," said Oporto. Farmers earn nearly triple their previous income in other provinces such as Long An and An Giang.

Daniel said the Vietnamese Government has a successful agricultural restructuring model which has allowed the private sector to invest in factories, farms, and technical transfer to farmers.

More electricity flows southward

Projects to boost power supplies to southern provinces have accelerated, an Electricity of Viet Nam (EVN) statement has said.

The company forecast power sales would continue to dramatically increase along with growth in the region.

According to EVN, the country's power system has a total capacity of 34,000MW while demand is only 26,000MW.

It said that although national power supplies were sufficient at present, economic growth in the South had been strong, therefore, building more power plants was essential.

At present, EVN is spending more than US$5 billion on completing the 4.308MW-Duyen Hai Power Centre consisting of three thermal-power plants in Tra Vinh Province.

Dang Phan Tuong from the National Power Transmission Corporation (NPT) told Tin Tuc (News) newspaper that since 2012, the corporation had implemented several measures and carried out a series of major projects to ensure power demands for the region were met.

Last year, the NPT opened 14 plants to stabilise electricity for the southern region, including HCM City.

The region's power consumption, about 20 per cent of the national total, was transmitted from the northern and central regions, Tuong said.

For the last three years, the NPT has increased power-transmission from the north and centre to the south - from 2.600MW to 3.100 MW.

"Power plants at the Duyen Hai coastal power centre will this year put into operation two generators with a total capacity of 1,245 MW and another next year. And by the year 2017, all other generators will be operational", he said.

"So this year, the NPT has to complete four major projects with a total investment capital of more than VND7.2 trillion (US$340 million), including building 226km of 500kV line and 95km of 220kV line across the provinces of Tra Vinh, Vinh Long, Tien Giang and Ben Tre.

Ngo Van Cuong, deputy general director of VNECO Company, the contractor building the Duyen Hai 500kV transmission station, said work would be completed at the end of March.

The management board of the southern power projects said that to receive power from Duyen Hai Plant No.2, the contractor must complete the Ben Tre-Mo Cay 220kV, the Duyen Hai-Mo Cay 220kV line, and Duyen Hai 500kV transmission station and 500kV line of Duyen Hai-My Tho Thermo Plant, in the second, third and fourth quarters of this year.

At the end of January, the Duyen Hai Power Plant No.1 generator with a capacity of 622.5 MW was integrated into the national electricity grid as a trial.

The generator will officially be put into the operation in July this year.

French product fair kicks off in Can Tho

Locals in the Mekong Delta city of Can Tho are introduced to French products, including cosmetics, perfume, confectionary and beverage, displayed at a fair kicked off on February 7.

The French product fair underway at the Can Tho International Exhibition Fair Centre is the first of its kind in Can Tho, the city which is striving to become the Mekong Delta’s economic hub.

It was jointly held by Lecave del soleil Group and the French business group in Vietnam, and the municipal Department of Industry and Trade.

Nguyen Minh Toai, Director of the municipal Department of Industry and Trade, elaborated the fair as an opportunity for French enterprises to market their products to local consumers and businesses.

Meanwhile, representatives from French business group expressed hope to seek partnerships with the city’s businesses exporting local products to France.

In the framework of the fair, a number of activities are slated to take place such as a chocolate festival for Valentine’s Day.

In addition, a miniature Paris with Eiffel Tower, Arc de Triomphe, Champs-Elysees avenue, and European architecture was created for the fair.

The event will run until February 15.-

Vingroup builds Hai Phong complex

Vingroup Retail Co and Hai Phong Real Estate Development and Investment Co broke ground for a commercial complex in the northern port city of Hai Phong on February 8.

Located downtown on Le Thanh Tong Street, the 600 billion VND (28 million VND) project covers 48,000 sq.m. It includes shopping malls and a residential area named ‘Shop House.'

It is believed that the complex will have outlets of well-known names in fashion, consumption, recreation, food and cinema.

According to Vice Chairman of Vingroup, Le Khac Hiep, the Vincom Le Thanh Tong-Hai Phong complex was the company's first project in Hai Phong. He expects it to contribute to the city's economic and cultural development.

Furthermore, the construction of the complex will be expedited to ensure that it is in operation this year, Hiep said.-

Wood product exports continue to grow

The country's wood products exports are expected to again grow by at least 15 percent this year, according to the Handicrafts and Wood Industry Association of HCM City (Hawa).

Despite the bleak economic situation, the industry managed to achieve average export growth of 15 percent in the past seven years, Huynh Van Hanh, Hawa Deputy Chairman, told an industry function in Ho Chi Minh City this week.

Many furniture companies in the EU closed due to the crisis, and wood exporters in some countries faced dumping duties, giving Vietnam a window of opportunity to increase its exports to the continent, he said.

Besides focus on traditional markets like the US, Asia, and the EU, "we are suggesting that the industry should organise trade promotion programmes in the eastern European and Middle East markets where our wood products are still absent."

With exports of 6.23 billion USD last year Vietnam was among the 10 largest exporters in the world, but accounted for a mere 2.68 percent of global exports, and could increase its market share, he said.

Besides, with a population of more than 90 million, the domestic market too offered a great opportunity, he said.

Through three annual trade fairs to showcase furniture, home decor and handicrafts, the industry successfully appealed to domestic customers and property developers, with total sales increasing every year at the fairs, he said.

However, with the establishment of the ASEAN Economic Community this year, it will face fierce competition in the domestic market, he warned.

Since most producers were small, they should join hands to improve their competitiveness and grow at home, he said.

They should also invest more in technology to improve productivity and product quality, he said.

Nguyen Quoc Khanh, Hawa Chairman, said this year the association will organise more seminars, fairs, training courses, and trade promotion programmes to help members strengthen their competitiveness and expand markets.

It will also continue to mobilise opinion to lobby the Government for effective policymaking, he added.

At the event, Hawa signed an agreement with the Binh Duong Furniture Association and Dong Nai Wood and Handicraft Association to join hands to develop the industry.

Seminar looks to promote macadamia planting

A seminar was held in Central Highlands Lam Dong province’s Da Lat city on February 7 to introduce a roadmap for the implementation of a macadamia cultivation project in the Central Highlands region.

It is organised by the Lam Dong People's Committee, the Central Economics Committee and the Central Highlands Steering Committee.

According to the project, the Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) will lend the Him Lam Joint Stock Company over 20,000 billion VND (over 930 million USD) for planting macadamia for five years.

This is the first project aimed at large-scale cultivation of the macadamia nut in Vietnam.

The Him Lam Company will supply farmers with seeds, fertiliser, and plant protection products and will teach them proper planting techniques.

The money will also be invested during the first phase of the project for macadamia cultivation on 100,000 hectares of land by 2020.

Another 18,600 billion VND (865 million USD) is expected to be invested during the project's second phase to expand the area for cultivating the plant to 200,000ha between 2020 and 2024.

Nguyen Duc Huong, Vice President of the LienVietPostBank, who proposed that the Central Highlands Steering Committee organise the seminar, says Vietnam has all the conditions required for the strong cultivation of macadamia.

"We wish to lend to farmers for growing this kind of tree. The farmers can collect the capital and earn profit in the seventh year as per our expectation," Huong tells the VnEconomy.

The macadamia nut is dubbed as the "Queen of Nuts" for its outstanding nutritional value and high concentration of mono-unsaturated fats.

The plant, indigenous to Australia, was introduced to Vietnam in 2002 for trial cultivation in some central provinces, including Lam Dong, Dak Nong and Dak Lak. After more than a decade under trial cultivation, it was found that Vietnam produced a higher yield of macadamias than other countries.

Local scientists have tested and found that the north-western and Central Highlands regions have conditions best suited for the plant's growth.

By September 2014, the plant covered 1,600ha in the Central Highlands region.

The project aims to turn the plant into a key industrial plant in the Central Highlands region, which can provide a stable source of income for the farmers and turn the region into a "macadamia kingdom" in Southeast Asia.

2015 sees positive signs of growth

The 2015 inflation rate is expected to stand at 3 percent, reflecting plunging energy prices and generally decreasing commodity costs, reported the National Financial Supervisory Commission (NFSC).

Inflation rate reductions have been recorded recent years, particularly from September to December, 2014 when it fell by 2.6 percent to a stable 3 percent.

The growth rate has maintained its momentum since the second quarter of 2014, leading the agency to expect a 6.2 percent growth in the economy this year.

The consumer price index has been in a downward spiral and is projected to hit 3 percent by the end of the year, presenting an opportunity for the Government to adjust prices with minor market impact, according to the NFSC

Regarding the drop in energy costs, the NFSC proposed a transportation price cut to bolster domestic production and consumption. The Government must also intensify its product quality monitoring and consider lowering the interest rate to improve the competitiveness of local enterprises.

Exports talk restructuring of tra fish industry

Tra fish was a major national product, and so the restructuring and sustainable development of the industry must be done at every stage from zoning and farming to processing and consumption, he said.

The survival of the industry depended much on developing export markets, which account for most of the output, he said.

Delta provinces should join hands to review the tra breeding area and trade promotion activities and study tra processors to properly restructure the sector, he said.

Participants told the seminar that the delta provinces should follow a Government decree zoning land for pangasius farming and regulating processing and export.

Truong Thi Le Khanh, chairwoman of Vinh Hoan Corporation, said the restructure of the industry should cover the quality of tra fry, use of advanced farming techniques and diversifying products.

Besides, processors would have to improve their financial capability and business strategies, she said.

The Government should offer tax breaks and have flexible policies, she said.

Tra is bred on 6,000ha of ponds, mostly in the Mekong Delta, according to the Vietnam Tra Fish Association (VTFA).

Statistics from VTFA show that Vietnam’s tra fish export was valued at 1.76 billion USD in 2014, up 0.4 percent against that of 2013.

The export saw an increase in such markets as China, Hong Kong (China) Colombia, and Mexico in 2014. However the sector faced a continuous decline in the two largest markets, namely the European Union and the US.

Vietnam

accounts for the major share of the global tra fish market, with its products being sold to nearly 150 countries and territories.-

Vietnam scores big trade surplus with Australia

Vietnam

scored a trade surplus of 1.93 billion USD with Australia in 2014, according to figures from the Ministry of Industry and Trade.

Vietnam

’s exports to Australia last year reached 3.99 billion USD, up 13.7 percent against 2013 while its imports from the world’s 12th largest economy were worth 2.06 billion USD.

While crude oil is Vietnam’s key export commodity to Australia with a share of 46 percent of the total value, agro-products and seafood posted the strongest growth.

Products in the manufacturing and processing sectors such as steel, electric cables, transport vehicles and spare parts, garments, bags, umbrellas and hats saw strong increases but computers, electronic products and components, phones and components showed signs of decline.

To maintain export growth to Australia, a market with a lot of room for Vietnamese products, besides creating favourable and stable legal conditions, the ministry also ask export enterprises to make meticulous preparations to meet the market’s strict requirements.-

HCM Ciy flower fairs start next week

The biggest flower fair in Ho Chi Minh City, Tao Dan Spring Flower Festival, will begin next week, followed by hundreds of other flower fair and market opening.

The 12-day festival, which starts on February 15 at District 1's Tao Dan Park, will display more than 4,000 indigenous and foreign flowers, ornamental fish, bonsai plants and trees.

One of the highlights of the annual event will be a replica of a fishing vessel made of flowers.

Bang vuong tree, which produces fruits shaped like a box, will also be on display. The tree is grown only on the Truong Sa (Spratly) Islands .

The city will also organise three main flower markets at parks, including September 23 in District 1, Gia Dinh in Go Vap district and Le Van Tam in District 3.

Nearly 125 markets will open in 20 inner and outlying districts across the city.

Markets will remain open from February 10 to 18.

Spring fair adds pizzazz to pre TET- atmosphere

Consumers in Hanoi are upbeat on the annual spring fair selling a wide range of specialty items for the upcoming Tet holiday season.

It also provides a place for enjoying a wide array of traditional cultural activities.

The fair, which runs February 6-16, has officially kicked off at the Giang Vo Exhibition Centre with more than 500 enterprises displaying their wares in over 900 pavilions spanning 16,000 sq metres.

Organisers of the event said the number of participants demonstrates the overall exuberance for the fair throughout the country. Enterprises, from over 35 provinces are participating including many involved in manufacturing and agriculture.

Products including southern fruits like grapefruits, mangosteens, and rambutans have been a smash hit as well as local specialities like Ly Son onions, garlic, Thanh Hoa fermented pork rolls and Tan Cuong tea.

Tourism agencies are also represented at the event and are offering a large number of special offers on tour packages with huge discounts.

A wide range of cultural and art performances have also been planned by the Hanoi City Department of Culture, Sports and Tourism at this year’s fair.

French consumer goods fair opens in Can Tho

A consumer goods fair showcasing a wide selection of French cosmetics, perfumes, wines, candies, and beverages in more than 20 pavilions has kicked off at the Can Tho International Exhibition Fair Centre.

Organisers of the event, which runs February 2-15, have also announced a large number of promotional packages and sweepstakes offering those attending an opportunity to win travel packages, products and cash prizes.

Director of the Can Tho Department of Industry and Trade, Nguyen Minh Toai said, the event provides an ideal opportunity for local enterprises to exchange and seek business opportunities with French partners.

Nam

Can bridge on Ho Chi Minh highway inaugurated

Prime Minister Nguyen Tan Dung attended a ceremony in the southernmost province of Ca Mau on February 7 to inaugurate Nam Can bridge, the last bridge on the Ho Chi Minh Highway.

The bridge covers a length of over 800m and a width of 12m, spanning over the Cua Lon river and linking Nam Can and Ngoc Hien districts.

Built at a cost of nearly VND650 billion (US$30.9 million), it is a key part of the second phase of the Ho Chi Minh Highway that runs from the northeastern province of Cao Bang to the southernmost Ca Mau province.

On the occasion, an 8.1km stretch starting from Nam Can township to the bridge, accommodating the newly-built Kenh Cai Tat, Sau Nan and Trai Luoi bridges, was technically opened to public.

Slated for completion in the next 10 months, the stretch is designed for a maximum vehicle speed of 80km per hour.

Addressing the event, the PM requested the Ministry of Transport, the Ho Chi Minh highway project’s management board and units concerned quickly conclude the construction of the stretch later this year as scheduled.

He also asked Ca Mau authorities to optimise the use of capital inflows into infrastructure, which is one of the strategic breakthroughs on its way forward.