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BUSINESS IN BRIEF 23/4
S Korean firm to make antennas in Ha Nam
ACE Technology Group from
The factory will have an initial investment of US$70 million
and use 3,000 employees, ultimately increasing to $100 million and 5,000
workers.
Spanning a 12.5ha site in the province's Dong Van II
Industrial Zone, construction is expected to begin in July.
More than 300 businesses from
The deputy head of the Department of Trade and Industry of the
city, Lu Bang, revealed this at a press conference on Monday.
He said businesses would display products in 600 pavilions and
introduce a variety of products used in the construction, interior decoration
and furniture.
Foreigners look to Long An for investment projects
Many enterprises from
During a meeting with Long An People's Committee on Monday,
the companies were introduced to the provincial situation on socio-economic
development, its investment environment and commitment to create favorable
conditions for investors.
The province has to date lured 600 projects from 34 countries
and territories with a total registered capital of $3.6 billion.
VPBank offers low-cost loans until September
The Viet Nam Prosperity Commercial Bank (VPBank) has launched
the preferential loans up to VND5 trillion (more than $238 million) to
small-and-medium-sized enterprises nationwide.
The programme, which will end in September, will provide a
preferential interest rate of two per cent less than the normal rate.
Fung Kai Jin, the bank's deputy general director, said the
bank considered the SMEs to be an important segment for their long term
development strategy.
Dong Nai sets footwear target at $2.5b
The southern
To reach the goal, the province would organise regular
meetings with footwear producers to help solve their difficulties as well as
create opportunities for them to participate in trade fairs and exhibitions
to seek new trade partners and new export outlets, said Le Van Danh, the
department's director.
In the first quarter of this year, footwear surpassed other
commodities in terms of export turnover, earning about $545 million, up 13
per cent year-on-year. Major markets included the
Banks to finance EVN's power project
Viet Nam Electricity, the largest electricity company in Viet
Nam, has reach an understanding with Vietinbank, Vietcombank and BIDV on a
commercial credit agreement worth of VND4,500 billion (US$210 million).
The credit agreement was struck for the Duyen Hai 3 Extension
Thermal Power Plant in the southern
Once completed, it will be among the largest coal thermal
power plants in the South. The project is part of the national power
development plan for the 2011 to 2020 period and was approved by Prime
Minister.
The thermal power plant is designed to have a production
capacity of 3.9 billion killowatt hours a year and has machines with a
capacity for 660 megawatts.
The plant operates on a modern burning technology, which is
suitable for
Forum discusses ways to improve business climate
Measures to improve
The two-day meeting will also review the results of the 2014
socio-economic development plan and discuss the implementation of
socio-economic plans during 2015.
Opening the event, chairman of the National Assembly's
economic committee, Nguyen Van Giau, asked experts to assess the feasibility
of implementing the 2015 socio-economic targets approved by the National
Assembly.
He said the targets concentrated on removing difficulties in
production and business, restructuring the economy and improving
competitiveness, efficiency and capacity.
Giau asked the forum to evaluate competitiveness through clear
indexes, provide solutions for agricultural restructuring and production
connectivity, discuss public debts, Official Development Assistance, imports
and exports, employment, healthcare and education.
Another important issue to be discussed is the country's
global economic integration, particularly the impact of free-trade agreements
and globalisation on the country's economy, he said.
Director of the Viet Nam Institute of Economics, Tran Dinh
Thien, said that Viet Nam recorded a growth rate of 5.98 per cent in 2014,
0.56 per cent higher than in 2013.
The 2014 growth occurred as the economy continued to show
signs of recovery. However, the rate was low and growth did not surpass six
per cent much lower than the average during the 1990-2010 period, he said.
The 2014 growth rate success was attributed to several
factors, particularly the Government's pro-active implementation of many
policies to stabilise the macro economy, promote regulatory reforms and
actively integrate into the regional and global economy, he said.
However, participants noted that
Former director of the National Centre for Socio-Economic
Information and Forecast Le Dinh An stressed that the economy showed signs of
recovery, but remained unstable. He said there was still a high risk for the
economy to return to low growth.
He pointed out that the real estate market was still quiet;
the economy's competitiveness was low; economic restructuring programmes were
implemented slowly; and that there was slow investment in costly
infrastructure.
Economic experts proposed measures to deal with these
challenges, including continuing the tightened monetary policy; completing
legal and public investment mechanisms; improving human resources; and
improving the business and investment environment.
It was also essential to implement Government measures, such
as stabilising the marcro-economy, keeping inflation under control, creating
conditions for production and trade activities; pushing economic restructure,
increase export and develop the market, they said.
Former director of the national information centre, An ,said
it was necessary to initially implement measures such as keeping close watch
over the change of the price of the US dollar in the market, focusing on
developing agriculture to increase the value of farm produce and speeding up
the equitisation process of State-owned enterprises.
During the second-day discussion of the forum today, economic
experts and scientists are expected to discuss orientations to improve the
business and investment environment.
They will provide in-depth evaluations of specific suggested
standards for the business climate, in connection with the implementation of
the 2013 Constitution and newly issued laws, including the Law on Tendering,
Law on Investment and the Enterprise Law.
Representatives from the business community, the association
of small and medium-sized enterprises and the Viet Nam Real Estate
Association will analyse the evolution of the business environment in
The event was organised by the National Assembly's economic
committee, the Viet Nam Academy of Social Sciences, the Viet Nam Chamber of
Commerce and Industry and the Central Institute for Economic Management.
Agro-fisheries firms told to tap
Vietnamese firms were instructed to export agro-fishery
products to Finnish and North European markets at a conference in
According to Tran Viet Cuong, Deputy Head of the Vietnam
Sanitary and Phytosanitary Notification Authority under the Ministry of
Agriculture and Rural Development, the agro-fishery sector's export value
depends more on volume than price.
The majority of Vietnamese agricultural enterprises are small.
Under-10-employee firms account for 44 per cent of the industry while
over-300-employee businesses constitute only 3.47 per cent, Cuong noted,
adding that 82 per cent of companies have less than VND20 billion
(US$926,000) in capital.
He said that push to increase Vietnamese agro-fishery exports
to
The project would give technical assistance and market
information to Vietnamese enterprises, enabling them to reach their partners
more easily, he said.
Agro-fishery exporters across the nation would benefit from
the project, especially those in Ha Noi,
During the conference, Vietnamese and foreign experts provided
businesses with basic information and country specific guidelines for
exporting aquatic products and fruit to the target markets.
Vietnamese firms were offered other forms of support, such as
the Finnpartnership Business Connectivity Programme, which will sponsor
Vietnamese firms trying to expand operations and develop the capacity to meet
international commercial practice requirements.
Trade between
Garments and textiles, computers, electronic products and
spare parts, machineries, plastic products, footwear and leather were major
earners in
The country imported electronic products and spare parts,
machineries, equipment, paper, chemicals and steel from
In March of this year,
VND100m homes a low-income dream
Affordable housing that was recently launched in the southern
At the beginning of this month, Becamex IDC launched nearly
5,000 apartments, with a total area of 30 square metres each in the Hoa Loi
social housing project, which have been priced between VND100-150 million
($4,630 - 6,950) per unit.
Buyers could pay 20 per cent of the total value of the
apartment in advance and get loans from the Government's VND30 trillion
($1.38 billion) support package for the property market and pay the remainder
in instalments every month.
Nguyen Thi Lan, a worker in
Meanwhile, Nguyen Thanh Truc, chief of the secretariat of the
provincial People's Committee, said there were a sizeable number of workers
in the province, who had expressed the need for accommodation. Many social
housing projects were implemented in the province with the aim to provide
low-income workers with a stable accommodation and help them settle down and
improve their living standard.
As part of the province's social housing project, Becamex
would develop 64,700 units for low-income earners in the province.
If successful, Binh Duong's social housing projects might set
an example for other provinces in the country, especially Ha Noi and HCM
City, where there is huge demand of homes for low-income earners, experts
said, adding that however, it would be difficult to match these prices in big
cities.
According to Le Hoang Chau, president of the HCM City Real
Estate Association, the cost for developing a land fund for social housing
projects, which accounts for a large portion of the construction costs, was
much lower in
Nguyen Van Duc, the association's deputy president, said
higher costs for site clearance in Ha Noi and HCM City had pushed up the
prices of social apartments, which currently ranged between VND8-15 million
($372-714) per square metre.
Duc said the land fund was the first factor to influence the
affordability of apartments.
Experts said land in the cities' outer districts had lower
prices, which would be suitable for developing a land fund for social housing
projects. However, this area must be equipped with basic social
infrastructure, such as schools, stores, banks and hospitals.
According to expert Dang Hung Vo, small-sized apartments, if
placed under good management that ensured basic infrastructure requirements,
such as parking space, parks, security and fire prevention, would not turn
into slums, but help enhance the living standards of low-income earners.
Experts estimated that the prices for similar apartments would
be around VND200- 300 million ($9,523-13.953) in Ha Noi and
In the latest draft decree on social housing development and
investment issued by the Ministry of Construction, the minimum area for
social apartments has to be 25sq.m.
Vingroup enters exhibition, fair industry
Property developer Vingroup has contributed nearly VND1.5
trillion to become a strategic stakeholder in Viet Nam Exhibition and Fair
Centre JSC.
This followed its acquisition of an 89.42 per cent stake in
the Viet Nam Exhibition and Fair Centre One Member Co. Ltd. (VEFAC).
According to a decision made by Vingroup's board of directors
on April 17, the group contributed VND1.489 trillion (US$68.9 million) to the
charter capital of the Viet Nam Exhibition and Fair Centre JSC.
Established in 1960 as a State-owned firm, VEFAC's annual
after-tax profits have reportedly ranged between VND3 billion and VND6.2
billion (between $142,860 and $295,240) over the last three years. The ratio
of profit on net revenue varied from 1.6 per cent to 9 per cent.
Earlier this year, Prime Minister Nguyen Tan Dung had
instructed the relevant ministries and agencies to execute a project for
constructing the National Exhibition and Fair Centre on the basis of
equitizing VEFAC.
As per the order, an international standard exhibition and
fair centre will be built over an area of about 125.79 hectares (ha) on the
Nhat Tan-Noi Bai axis in western Ha Noi and will contribute to the city's
development.
In addition, a new shopping mall and office building will be
constructed at
The Viet Nam Exhibition and Fair Centre JSC's first
shareholders meeting is scheduled to be held in Ha Noi today.
Securities firms share risk management do's and don'ts
Local securities companies exchanged their risk management
experiences in the securities industry at a seminar held in the capital city
yesterday.
The seminar, which was co-organized by the Ha Noi Stock
Exchange and the Techcom Securities Company, was aimed at improving risk
management, considering it is crucial for business survival, especially when
Nguyen Van Dung, HNX's deputy director, said the State
Securities Commission had recently issued guidelines for local brokers on
risk management. However, he added it was not easy to implement the
management as many firms had not paid enough attention to the matter.
Lim Ming Wee, 56, director of the E-securities project at the
Techcom Securities Company, shared his own risk management experience after
working in top positions in
He divided the management levels from international
organizations, such as IOSCO, IMF, World Bank, down to the national company
level.
At securities firms, he said, there were a lot of potential
risks present, especially in
Wee said market volatility demanded greater vigilance for
managing risk effectively, adding that firms should be more cautious while
watching and managing risks when the market was growing faster with more
competitors.
The firms must also pay attention to the speed of the market
reaction to events, as well as the system and process failures and fraud
risks.
Furthermore, Wee said it was very dangerous to have incomplete
or incorrect implementation of laws.
Thus, firms should build the market both in the depth and to a
certain level of sophistication.
Clear authorisation limits and procedures, clear
identification of responsibilities in the firms would also boost management
quality. With well-trained staff, the firms could be informed about potential
risks before any special team recognize it.
Firms should also exercise their own disaster plan, which
would be used to improve them.
Wee said if the attendees could follow all these suggestions,
they would definitely have a good platform to raise capital and ramp up their
profile and attract investors with investing opportunities in the capital
markets.
Deputy PM: Agriculture essential for national development
strategy
Developing agriculture and ensuring food security should play
a central role in the national development strategy of any country, Deputy
Prime Minister Nguyen Xuan Phuc has said.
Speaking at a debate session in the framework of the World
Economic Forum (WEF) on East Asia 2015 in
He stated that
The Vietnamese official underlined the need to design
appropriate policies to mobilise investment for agriculture and to seek new
markets for farm products exports.
According to Deputy PM Phuc, it is necessary to promote
cooperation among nations in ensuring food security and agriculture
development, as well as in sustainably managing and exploiting water sources,
especially in international rivers in the region.
Phuc also briefed participants on
The speaker affirmed that
Taking the occasion, the Vietnamese official called on
international investors to funnel their capital into agriculture in
In 2014,
Exhibition of Food & Hotel Vietnam comes to HCM City
The 8 th edition of Food & Hotel Vietnam is underway at
the Saigon Exhibition & Convention Centre (SECC) in
The 8,800-square-metre exhibition features 353 domestic and
foreign businesses, 252 of which from 31 countries and territories worldwide
including Australia, Singapore, the United Kingdom, the United States,
Taiwan, Malaysia, the Republic of Korea, Hong Kong, Italy, Japan and Spain.
A wide range of food and drinks are on display together with
hospitality equipment and supplies for hotels and restaurants.
Deputy Director of the Vietnam Chamber of Commerce and
Industry (VCCI) Tran Viet Dung said that the presence of so many exhibitors
at the event reflected the strong development of the hospitality sector in
The exhibition has offered a platform for local enterprises to
learn about the latest technologies and solutions from all over the world and
seek business opportunities and new markets, he added.
Several seminars will be organised on the sidelines of the
event, including “Food safety in commercial kitchens: An ISO 22000:2005
Approach for practitioners” and “Itinerary for franchise” alongside a
culinary challenge and a latte art competition.
Launched by the Singapore Exhibition Services associated with
VCCI Exhibition Service on April 21, the event will run through April 24.
Amway leads in direct selling in
Amway
According to the report, there are a total of 105 direct
selling companies in Vietnam, employing 600,000 people, with the total
revenue of VND6 trillion ($282 million) and paying VND520 billion (US$24.4 million)
in tax.
Amway
Amway has its headquarter and one factory located in the Amata
Industrial Park in Bien Hoa city, in the southern province of Dong Nai, as
well as branches in Ho Chi Minh City, Hanoi and five other provinces. The
company owns two stores and training centres in
In March last year Amway began construction of its US$25
million second plant in the Vietnam-Singapore Industrial Park II in the
southern
In 2014 the government issued a decree and a circular on
direct selling, stipulating that all agents participating in such activity
must hold certification by the Vietnam Competition Authority.
The decree is praised by companies as promoting professional
conduct and helping to increase buyers’ trust by enabling them to distinguish
lawful direct selling from illegal pyramid schemes.
Vietnamese investors learn about RoK’s Pyeongtaek port
Vietnamese investors gained insight into Pyeongtaek port, an
entrepot linked with other international seaports, in the
Lim Song-hack, Director General of Pyeongtaek Regional
Maritime Affairs and Fisheries Office, said the newly-operational Pyeongtaek
port handled a record 100 tonnes of cargo last year and has the potential to
become one of the most dynamic and developed seaports in the RoK.
Since
The RoK is currently the largest investor in
Khuong said there remains significant room for mutual growth
in diverse fields, but especially in transport and logistics.
The workshop was co-hosted by the VCCI, the Vietnam Maritime
Administration, and the Pyeongtaek Regional Maritime Affairs and Fisheries
Office.
Quang Nam, RoK’s Gyeongsangnam cooperate to develop ginseng
Hamyang district in the
According to the MoU, beyond making efforts to support each
other in agriculture, tourism and culture, two sides will share experience in
ginseng cultivation and processing techniques.
Ho Quang Buu, Chairman of the Nam Tra My district People’s
Committee, highlighted that collaborating with Hamyang and learning from its
expertise in growing and processing pharmaceutical materials and particularly
mountainous ginseng will open opportunities for Ngoc Linh ginseng to roll
into foreign markets.
Between now and 2020, Quang Nam province plans to grow nearly
a million ginseng plants across 100 hectares in Nam Tra My district. As part
of long-term plans, the province has zoned off a 19,000 hectare plantation
within seven communes in the district.
Hamyang district, a clean town with 15 mountains exceeding
1,000 metres in height and rich soil, has tapped its potential to develop
mountainous ginseng. The locality has organised numerous activities during
the annual Wild Ginseng Festival to popularise the local products to
international friends.
EU agreements a chance to eradicate illegal timber trade
Final negotiations to complete a Forest Law Enforcement,
Governance and Trade (FLEGT) and Voluntary Partnership Agreement (VPA)
between the European Union (EU) and
Enactment of the agreements is expected to offer additional
opportunities for
The agreements aim to ensure the legality of timber and timber
products entering 28 countries in the EU market, while helping to maintain
and expand the export of timber and timber products from Vietnamese
enterprises, which is subject to changing EU market requirements as of March
2013.
Nguyen Tuong Van, Director of the Steering Committee of
VPA/FLEGT, said that following negotiations, she expected that timber exports
to the EU market would considerably increase, reported Thoi Bao Tai Chinh
online.
Van added that the great challenges in the negotiations
included following the TLAS - Timber Legality Assurance System to ensure
Vietnamese timber products meet international standards on the origin of
timber.
She said that apart from efforts made by authorized bodies,
timber processors and exporters needed to join this "play-ground"
by focusing on their product quality and conducting business in compliance
with the law.
They also needed to have certain knowledge about VPA and to
consider it to be a "visa" for Vietnamese timber products to enter
the EU market, while understanding that this is an opportunity to eliminate
illegal timber trading and unregulated timber companies from doing business
in Vietnam.
According to a report on the negotiations between
Last year, the country earned 6.2 billion USD from the export
of wood and wood products, a year-on-year increase of 11.5 percent compared
with 5.4 billion USD in 2013, and ranked second among countries exporting
furniture in
Over the years, the export of timber has seen significant
improvements in its quality, especially as domestic enterprises have
increased their market share to match those of FDI enterprises, according to
the vice chairman of the Handicrafts and Wood Industry Association of Ho Chi
Minh City (Hawa), Huynh Van Hanh.
He noted that wood and timber exporters still faced difficult
times, especially due to "barriers" from strict requirements in
major markets, including the EU.
Van said under the State's regulation on forest management, in
compliance with FLEGT, it is required that any timber products exported to
the EU must receive chain of custody certification. Further, no illegal
timber products or unverified products are allowed to be added to exported
timber products.
As the fact that local raw materials can now meet about 40 to
50 percent of input materials for export processing, while the remainder
still relies on imported raw materials. Therefore, local processors have
difficulties in determining whether imported timber is reliable, she said.
According to Van, most of the wood processing enterprises in
Nguyen Ton Quyen, General Secretary of the Vietnam Timber and
Forest Products Association (Vietfores), has said that the General
Administration of Customs statistics showed that, last year,
Housing stimulus disbursement stagnates
The disbursement of the 30-trillion VND (1.38 billion USD)
housing stimulus package has been stagnant, despite the increase in the
number of successful transactions in the real estate market.
Economists and estate businesses said the market had seen
clear improvements. The number of successful transactions in
Deputy Minister of Construction Nguyen Tran
Experts said it was time for the package to support the market
and reduce the housing inventory. However, the package cannot be disbursed
fully by June 1, 2016 as the Government's set target.
The Vietnam Real Estate Association said the disbursement was
slow for social and cheap commercial housing projects, despite an increasing
number of transactions and reducing inventory.
About 6.2 trillion VND (287 million USD) or 20 percent of the
package has been disbursed so far.
Chairman of the Ho Chi Minh City Real Estate Association Le
Hoang Chau said the disbursement was too low, though 15 banks were
contributing to the package.
Chau said regulations stipulated that the total income of
eligible low-income earners should be less than 9 million VND (416.7 USD) a
month.
However, several commercial banks did not accept the
regulation as they believed that the income would not be enough to repay
debts.
Nguyen The Hien from Bac Ninh province is eligible to get a
loan from the package. However, several banks rejected his application
because they felt he would not be able to repay the loan with his low income.
"I have to consider taking a commercial loan that has a
higher interest rate and financial risks. I have paid 30 percent of the
amount for my apartment. If I'm unable to get a loan, I'll have to sell the
apartment," Hien said.
He suggested the loan duration should be extended from the
current 10 to15 years to 20 to 25 years to reduce the pressure on low-income
earners.
A bank representative said the recent regulation promulgated
by the construction ministry in March caused the package disbursement to
stagnate. Such low incomes would not be able to cover the debt after
deducting the daily expenditure.
"The loan comes from people's deposits in banks. That is
the reason why banks have been careful in giving loans to avoid bad debts in
the future," he said.
Nguyen Hoang Minh, Deputy Director of the State Bank of
Market for canned fruit products neglected
The market for canned fruit products would present an
opportunity to boost Vietnamese agricultural product consumption but domestic
producers have long neglected this market due to various reasons.
Surveys conducted at supermarkets in
Fivimart’s representative Vu Thi Hau said the low purchase
rate is due to
According to an online seminar on the export of Vietnamese
agricultural products held by the Ministry of Industry and Trade (MoIT) last
week, reasons for slowing consumption of canned products in domestic market
are unstable supply depending on seasons, undiversified and low-quality
products not meeting export standards and insufficient capital.
Deputy Director of Import-Export Department under the MoIT
Phan Thi Dieu Ha said international markets including Europe,
The government should introduce preferential policies for
enterprises such as credit loans to assist them in expanding their business
and reducing price while enterprises should intensify promotion activities to
improve consumption and support the campaign “Vietnamese give priority to use
Vietnam’s goods” she added.
During the year of 2014,
The country mainly ships telephones and components, coffee,
seafood, computers, electronics and components, garments, fibre, footwear,
fishing nets, chemicals and pepper to
Its imports remain modest, reaching just 8.7 million USD,
resulting in a trade surplus of 139.3 million USD. The imported products from
Deputy Minister of Trade and Industry, Tran Tuan Anh, said
In addition,
Anh said the ministry will update local businesses with market
information, carry out more advertising campaigns in the country and
formulate a development plan through 2020.
The ministry will also assist businesses in setting up
subsidiaries and rice storage warehouses in key markets, such as
Zahra Maafiri, General Director of the Moroccan Centre for
Export Promotion, said the country has a modern infrastructure, transport and
banking system, which would facilitate Vietnamese enterprises' import and
export activities.
Vietnamese goods have drawn the attention of the Moroccan
people, she said, adding that
However, businesses still have to overcome numerous hurdles,
such as the considerable geographic distance, a lack of market information,
and differences in business customs, and languages.
PM approves Nhan Co industrial zone expansion
The Prime Minister has approved adjustments on planning for
development of industrial parks in Central Highlands
According to the master plan through 2020, the Dak Nong
People’s Committee will be in charge of making adjustments and plans on land
use in the locality.
Relevant bodies are assigned to make a detailed plan for the
expansion, ensuring access to social services such as water, electricity, and
environmental protection.
The Nhan Co Industrial Zone which will be expanded to 148 ha
from 100 ha is located in Nhan Co commune, Dak R’Lap district and serves
domestic bauxite exploitation, aluminium production projects and
agro-forestry product processing.
Last year, the provincial economy grew by 12.2 percent, the
average income per capita exceeded 32.5 million VND (1,500 USD), and the rate
of poor households was reduced to 13.75 percent.
In 2015, the locality is working towards an economic growth of
over 12.25 percent, an average income per capita over 35 million USD, and a 2
percent decrease in the household poverty rate.
Russia-ASEAN trade rises fivefold in ten years
Trade between Russia and the Association of Southeast Asian
Nations (ASEAN) reached 21.5 billion USD in 2014, a fivefold increase over
the past decade.
The figure was released by Russian Deputy Prime Minister
Arkady Dvorkovich on April 20 at the plenary session of the World Economic
Forum (WEF) on East Asia 2015 in Jakarta, Indonesia.
The Russian Deputy PM said economic relationship between
Russia and ASEAN over the past years have been developing positively, adding
that Russia see good prospects of cooperation with ASEAN partners in the
supply of liquefied gas and helicopters, among others.
He also highlighted that Russia’s external economic policy
gives priority to links with the Asia-Pacific region for economic
development, especially in Siberia and the Far East.
The WEF on East Asia 2015 is taking place in Jakarta from
April 19-21 with the attendance of more than 700 guests from 40 nations. Main
topics on the event’s agenda include agriculture, the food market, trade and
the spread of high technology.
Loan demand rises as from March
Financial institutions have reported a rise in the demand for
loans since the beginning of March, according to a survey conducted by the
Monetary Forecast and Statistics Department under the State Bank of Vietnam.
According to the survey, the respondents expect the banking
system’s average credit growth will increase to 16.93 percent this year from
the 14.57 percent forecast at the previous survey last December.
Meanwhile, they anticipate slight decrease in both deposit and
lending interest rates.
Raising capital is forecast to increase by nearly 15 percent
from the previous forecast rate of 14.35 percent, with capital mobilization
in Vietnam dong to grow faster than that in foreign currency.
Most of the financial institutions involved believe long-term
deposits, particularly those of 6-month and longer terms, will increase in
the second quarter towards the end of the year.
Vinamilk imports 400 dairy cows from Australia
Vietnam Dairy Products JSC (Vinamilk) received 400 dairy cows
from Australia through Singapore Airlines on April 20.
The shipment is part of a total 1,000 dairy cows addition
Vinamilk imports during April at Noi Bai International Airport.
As part of an ongoing business strategy to deal with sharply
fluctuating world milk prices, Vinamilk has set-out to invest in dairy farms
which supply its dairy plants quality products and, at the same time,
increase the rate of localization.
By April 2015, Vinamilk has set up 9 dairy farms in Tuyen
Quang, Thanh Hoa, Nghe An, Binh Dinh, Lam Dong.
During the period 2015-2017, Vinamilk plans to import dairy
cows from Australia.
The company intends to increase its number of dairy cows to
150,000 by 2017 and 200,000 by 2020.
Spring Economic Forum discusses investment environment reform
Titled “Continuing to reform the investment and business
climate in Vietnam: Turning Words into Action”, the 2015 Spring Economic
Forum opened on April 21 in Vinh City, central Nghe An province.
The two-day forum reviews the results of the 2014
socioeconomic development plan and proposes measures to implement
socio-economic plans during 2015 and improve business environment.
In his opening speech, National Assembly (NA) Economic
Commission Chiarman Nguyen Van Giau, said the forum chose the theme of
investment environment reform (considered a priority for 2015 and 2016) and
slogan “Turning Words into Action” as a result of the NA’s consensus and
creativeness.
Giau proposed some issues for discussion related to society,
culture, education, science, technology, environment protection, improvement
of living conditions, acceleration of administration and judicial reform,
anti-corruption, thrift practices and loss-prevention, defence and security.
He suggested evaluating competitiveness through clear indexes,
solutions for agricultural restructuring and production connectivity, public
debts, ODA garnering, bad debts, import-export, employment, security, support
policy for those who made contribution to the national development,
insurance, health care and education.
Another important issue slated for debate is international
economic integration, including the impact of free-trade agreements and
globalisation on Vietnam’s economy.
Tran Dinh Thien, Director of Vietnam Institute of Economics,
highlighted that 2014’s growth occurred as the economy continued to show
signs of recovery and the post-quarter’s growth was higher than the
pre-quarter. However, the recovery rate was low and the growth did not
surpass 6%, much lower than the average growth during the 1990-2010 period.
Tran Dinh Thien, Director of Vietnam Institute of Economics
Vietnam’s export markets were diversified but the focus was
only on import markets. For instance, Vietnam has shipped products to many
countries- the US, the EU, China and Japan but imported up to 29% of total
products from China.
Vietnam’s public debts were 46.9%, which was on a safe level
proposed by the Ministry of Finance. However, public debt management Thien
said, adds to the State budget deficit which has occurred and even increased
in recent years.
Source : VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Năm, 23 tháng 4, 2015
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