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BUSINESS IN BRIEF 28/6
Exports
to EU to increase 10% by 2025
As a
result of the Vietnam-EU Free Trade Agreement (FTA), experts at a seminar on
June 25 in
Speaking
at the seminar,Central Institute for Economic Management (CIEM) President
Nguyen Dinh Cung underscored the importance of institutional reforms in the
country and the international economic integration process.
“Reforms
and integration will create a healthy competitive environment and contribute
to accelerating economic growth and reduce poverty,” Cung said.
The
signing of the Vietnam-EU FTA will open up huge opportunities to
Cung
emphasized the FTA will also pose challenges including pressures to implement
institutional reforms, widely open up the domestic market, improve the
business climate and obey strict regulations on labour and environment.
Experts
added that these challenges will become greater once
During
the seminar, Oliver Massmann, member of Executive Chamber of Eurocham said
The
Eurocham representative affirmed
He was
also optimistic about prospects for foreign investment from European
enterprises in
Spanish
Red Cross helps the disabled integrate into community
A project
sponsored by the Spanish Red Cross has produced meaningful results in helping
the disabled to integrate into the community socially and economically.
By
providing vocational training, the project not only helps the disabled with
means of livelihoods but also brings them out of their shell to be part of
the community.
Nguyen
Thi Van, in Duc Hoa hamlet, Thanh Tan commune, Thanh Liem district, had
defects in her legs, as an after-effect caused by Agent Orange/dioxin.
Poverty prevented Van from seeking treatment for her legs.
However,
through assistance from the project, in 2014 Van got a free-of-charge
operation that eventually recovered her walking ability.
In
addition, Van was admitted to a class of lace embroidery, where she learnt
how to embroider and then found a job earning her over one million VND each
month.
But more
importantly, Van is gradually getting rid of her sense of inferiority to
integrate herself into the community.
Van said
being able to walk is a dream come true and she is now no longer the burden
of her family.
Besides
Van, around 90 disabled people in Ha
The Ha
Nam Red Cross has so far organised five classes of vocational training for
the disabled, who were taught to use sewing machines, embroider or make
conical hats in a period of seven months.
Nguyen
Minh Toan, chairman of the Ha Nam Red Cross, the project is of sustainable
and humanitarian significance, helping the disabled to get treatments and
jobs, stable incomes, which eventually help them stand on their own feet.
Toan
said the association would provide vocational training to around 150 disabled
people by the end of 2015.
According
to the statistics of the Ha Nam Association of Disabled People, the province
has nearly 18,000 disabled people. Of which 1,200 are enjoying regular
allowances from the State budget.
Besides
that, over 1,000 households with disabled people get financial assistance.
Show
promotes exports to S. Korea
Many of
"Typical
Vietnamese branded products" hopes to create favourable conditions for
Vietnamese and South Korean firms to enhance co-operation and to promote
consumption among Vietnamese consumers and South Koreans living in
The
event also aims to understand more about South Korean consumers' needs to
select suitable products for export to
Hong Won
Sik, general director of Lotte Mart Viet
The
supermarket plans to have the "Typical Vietnamese branded products"
programme at more than 100 Lotte Mart supermarkets in
A
conference and business meeting between South Korean and
The
event was organised by Cong Thuong newspaper, Lotte Mart Viet
Last
year
Saigon
Co.op opens second store in Binh Duong
Saigon
Co.op, owner of the Co.opmart supermarket chain, opened its second outlet in
Covering
more than 4,700sq.m at Binh Duong Trade Centre, Co.opmart Binh Duong has an
investment of over VND60 billion (US$2.75 million) and sells more than 30,000
items, including fresh food, cosmetics, clothes, electronics and household
utensils.
Like
other Co.opmart supermarkets, the store provides price-stabilised goods for
local residents and neighbouring areas.
To mark
its opening, the new supermarket is offering three big promotions, including
discounts of up to 50 per cent on hundreds of products, gifts and lucky draw
programme with attractive prizes like Honda Air Blade, Samsung TV and Sanyo
fridge.
Vingroup
to build urban zone in Can Gio
Vingroup
will invest in a coastal urban zone spanning more than 800ha in Can Gio
District, southeast of
The
committee said the group would replace the former investor of the project,
known as Can Gio Urban and Tourism JSC, which had failed to construct the
zone within the past 15 years.
The
committee said, backed by the strength of its experience in real estate
development, Vingroup's investment would accelerate the development of the
urban project and improve the district's overall development.
The
city's chairman Le Hoang Quan called on all the local departments to work
together to help the investor realise the urban project as soon as possible.
During
the first stage, the group will carry out the construction work over 821ha of
land. It will then develop 300ha over the sea. Besides villas, hotels and a
tourism resort, Vingroup will also build hospitals and schools and will
launch various tours such as visits to the historic relics of the Sac Forest
War or a study tour based on environmental issues such as climate change to
develop green urban tourism and ensure sustainable development.
Considered
the "lungs" of
The
project was evaluated by the Can Gio Urban and Tourist Joint Stock Company in
2007. It had planned to kick off the construction of the urban project at a
cost of VND8.470 trillion (US$388.5 million), but this did not pan out.
HAGL
complex opens in Myanmar
The
first phase of the HAGL Myanmar Centre, a US$440-million trade centre, hotel
and service office complex, was opened in
The
Hoang Anh Gia Lai (HAGL) Group has invested in the project, spread over more
than 73,000qu.m, with financial support from the Bank for Investment and
Development of Viet Nam (BIDV), Eximbank and Sacombank.
The
first phase includes a trade centre, two 27-storey office towers on
161,000sq.m of land and a five-star 23-storey hotel that has 429 apartments.
The
second phase of the project will begin this month and will be completed by
the second quarter of 2017. During this period, the group will build four
28-storey towers that will have 1,800 apartments and office areas for rent.
Lotus
Residences offers townhouses along Ha
Following
the success story of Little Vietnam last year, Syrena Viet
Syrena
Viet
The
commercial and resort project at a prime location offers a valuable and rare
opportunity for those seeking to own a townhouse along Ha Long beach, Syrena
Viet Nam Sales Manager Pham Van Nam stressed.
With 159
four-storey townhouses built in modern and environmentally friendly design
and offering a view of sea, Lotus Residences together with Little Vietnam –
the project featuring the country's most original architectural styles – is
expected to create a bustling commercial, cultural, and tourism destination
in Ha Long City.
Lotus
Residences, constructed on an estimated investment of VND680 billion ($31.48
million), offers prominent utilities such as a high-end resort area that
includes a swimming pool, modern gym, park, and kid playground.
For the
first time in Ha Long City, Syrena Viet Nam will introduce a rental pool
system at Lotus Residences. A rental pool is a popular management model
followed in resort projects, in which parties involved share rental income
from a property, as well as expenses associated with its ownership and
maintenance.
Syrena
Viet Nam has pledged a maximum combined profit of VND600 million (US$27,700)
for the first two years of the operation of townhouses in Lotus Residences,
joining the rental pool and 65 per cent of rental profits from the third
year. In addition, the owners of townhouses can enjoy free accommodation for
60 days every year.
The
construction of Lotus Residences started mid-May and is expected to be
completed within 14 months. The first 48 units of the project will be offered
for sale on June 28 in Ha Long City with promotion programmes by the
investor.
G5
Property Trading Floor Alliance has been appointed the official distributor
of the Lotus Residences project.
According
to Nam, investing in tourism property projects in Ha Long is promising as Ha
Long city is becoming more and more appealing for tourists, along with the
development of the transport infrastructure system.
Syrena
Viet Nam is a subsidiary of BIM Group, which has to its credit a diverse
portfolio of residential, commercial, and resort projects in Ha Long, Phu
Quoc, and Lao.
Lotus
Residences will add to Syrena Viet Nam's high-profile projects, which include
Little Vietnam, Crowne Plaza Vientiane, InterContinental Phu Quoc, Halong
Marina Plaza, and Coral Bay Townhouses.
Norwegian
firm to build Con Dao plant
The
People's Committee of Ba Ria – Vung Tau Province has approved a proposal by
the Norwegian company Gravi Float AS to build a LNG-fueled thermal power
plant on Con Dao Island.
The
thermal power plant includes an LNG (liquefied natural gas) warehouse, a
wharf for LNG handling and a thermal-power plant with a capacity of 18 MW.
The
facilities would be located on 10,000 sq.m of water surface and 13,000 sq.m
of land on Hon Troc Island.
Earlier
this year, the provincial authorities approved a project to launch hydrofoil
services fueled with LNG to carry passengers and cargo between Vung Tau City
and Ben Dam Wharf on Con Dao Island.
The
Norwegian company LMG Marine will provide the hydrofoil services. Vessels
will dock at Da Harbour in Vung Tau City and PTSC Harbour in Ben Dam Wharf on
Con Dao Island.
Hydrofoils
will be able to carry 350 passengers and 400 tonnes of cargo each with
international standard services.
The
service, which is expected to take about five hours per trip, will charge
VND440,000 (over US$20) per passenger.
Two
vessels (Con Dao No 09 and Con Dao No 10) currently provide passenger
services between Vung Tau and Con Dao. The trip takes 13 hours, and charges
VND200,000 per passenger.
HCMC
economy sustains growth momentum
Ho Chi
Minh City Gross Domestic Product (GDP) growth rate reached a three year
record high of 8.55 percent, hitting VND417,064 billion (US$19.11 million) in
the first half this year, reported city Department of Planning and Investment
director Thai Van Re on Wednesday.
GDP
growth rates were 8.2 percent, 7.9 percent and 8.1 percent in the same period
of the last three years, he said at a meeting on socioeconomic conditions
presided over by city People’s Committee chairman Le Hoang Quan.
Services
grew 9.8 percent, accounting for nearly 60 percent GDP, industrial and
construction 6.8 percent holding 39.2 percent and agricultural sector 6
percent contributing 0.9 percent.
Six-month
retail goods and services revenues totaled VND323.23 trillion (US$14.81
billion), up 10.9 percent over the same period last year. However, export
import turnover reduced 6.3 percent to US$14.59 billion, attributed to crude
oil price drop.
HCMC
budget revenue reached VND134.73 trillion (US$6.20 billion), increasing 6.18
percent and accounting for 51 percent of 2015 estimates, reported Director of
the Department of Finance Dao Thi Lan Huong.
Domestic
revenues hit VND75.65 trillion, up 9.46 percent while export import brought
VND47 trillion, up 11.54 percent.
SOEs
equitisation only reaches 21% in first half of 2015
Only 61
out of 289 State-owned enterprises (SOEs) have been equitised in the first
six months of 2015, meeting only 21.1% of the year's plan, the Steering
Committee for Innovation and Development of State-owned Enterprises announced
at a meeting reviewing the six-month restructuring progress of the SOEs held
in Hanoi on June 25.
Of the
remaining SOEs, 127 enterprises are in the process of assessing their value
and 44 others have recently published their value.
In the
first half of 2015, only two SOEs were sold, one was dissolved, one was
merged and three were converted into limited liability companies with two
members.
In
addition to slow equitisation, divestment from non-core businesses was also
below expectation. Around VND3.3 trillion out of VND22.3 trillion was
divested from five sensitive sectors of the economy - real estate,
securities, insurance, banking and finance - equivalent to 15% of the year's
plan.
According
to the Steering Committee, strong determination and the great efforts of all
ministries, sectors and SOEs are required to fulfil the set targets for the
second half of this year as there remain 228 SOEs to be equitised, not
including a list of an additional 125 SOEs approved by the government to be
equitised this year.
In the
meantime, the promulgation of policies and mechanism related to SOEs
restructuring was very slow. Seven draft Decrees, decisions and projects
(accounting for 63% of the year's plan) have yet to be submitted to the
government for approval.
Several
draft documents stipulating important provisions have not been issued such as
the provision on publishing information of one member limited companies
wholly held by the State, and the provision on State investment in businesses
among others.
SMEs
receive 50% financial support for energy saving investment projects
Small
and medium-sized enterprises (SMEs) can now access loans from the Bank for
Investment and Development of Vietnam (BIDV), the Vietnam Technological and
Commercial Joint Stock Bank (Techcombank) and the Saigon Commercial Bank
(SCB) whereby they can receive 50% financial support via bank guarantee for
energy saving investment projects.
The
information is in accordance with an agreement signed in Hanoi on June 25
between the Embassy of Denmark in Vietnam and the three designated banks,
which are committed to supporting SMEs with loans for energy efficiency
investments under the support of the Danish Green Investment Facility (GIF).
The
banks will work with the GIF and SMEs to verify qualified projects to which
the Embassy will provide 50% financial support via a bank guarantee.
A
special attribute of this mechanism is the energy savings award scheme in
which businesses investing in energy saving solutions can earn rebates, from
10% to 30% of their total investment, on the total energy savings.
The
financing mechanism came into effect January 2015 and will last until June
2017.
Speaking
at the signing ceremony, Danish Ambassador to Vietnam John Nielsen noted that
the support with an initial fund of US$6.5 million can facilitate SMEs’
access to capital sources to improve energy efficiency. He also expressed his
hope that the model would be successful and repeated in the future in
Vietnam, saying that Denmark via the GIF will support 100-130 projects before
the end of 2016.
Nguyen
Viet Son, Deputy Director of General Energy Directorate under the Ministry of
Industry and Trade (MOIT) spoke highly of the Danish support, saying that the
projects supported by GIF will not only result in improving the energy
efficiency standards in SMEs but also provide valuable lessons for energy
efficiency initiatives in larger sized companies, contributing to a greener
economy.
Over the
last five years, Denmark has provided nearly US$30 million in grant to
support for Vietnam to increase sustainable energy usage. GIF is part of the
overall support and designed to help SMEs improve their energy efficiency,
and to promote clean and sustainable manufacturing in Vietnam.
Vietnam,
Cuba strengthen business cooperation
A
workshop focusing on providing information on the investment environment and
business opportunities in Cuba was held in Hanoi on June 23.
The
event, co-organised by the Vietnam Chamber of Commerce and Industry (VCCI)
and the Cuban Embassy in Vietnam, featured representatives from 21 foreign
trade enterprises under Cuba’s Gecomex Group.
Addressing
the workshop, Deputy Chairman of the Vietnam-Latin America Business Council
Nguyen Binh Minh appreciated the bilateral cooperation between the two
countries in agriculture, biotechnology, education, health and sports.
In 2014,
trade turnover between Vietnam and Cuba increased by 45 percent to 207.5
million USD, of which Vietnam exported goods worth 206 million USD to Cuba
and imported more than 1 million USDworth of commodities.
Vietnam
mainly exported foods, cereals, confectionery, footwear, ceramic products,
building materials, coal and chemicals while importing pharmaceuticals and
health food.
According
to Cuban Ambassador to Vietnam Herminio Lopez Diaz, the two countries share a
common ground in policies to attract foreign investment.
Last
year, the two governments signed a Bilateral Economic Cooperation Program for
the medium term.
The
Latin American country is currently opening the Mariel Special Development
Zone and is in the process of normalising ties with the US.
These
moves are believed to offer opportunities for the two countries to boost
cooperation in Cuba’s high potential fields, such as pharmaceuticals,
education, health and construction.
According
to statistics from the Ministry of Planning and Investment as of December
2014, Cuba has one foreign direct investment project in Vietnam with total
registered capital of 6.6 million USD.
Vietnam
currently has two oil exploration investment projects in Cuba under the
Vietnam Oil and Gas Group.
Implementation
of VDPF commitments under review
A
conference was held in Hanoi on June 23 to review the implementation of
agreements reached at the previous Vietnam Development Partnership Forum (
VDPF ), a policy dialogue forum between the Vietnamese Government and
development partners functioning as a replacement for its predecessor, the
Consultative Group (CG) Meeting.
Addressing
the event, Deputy Minister of Investment and Planning (MPI) Nguyen The Phuong
said the MPI has been working with relevant agencies and localities to implement
commitments made at the VDPF, with a focus on poverty alleviation, especially
among ethnic minority groups.
This
includes drawing up, reviewing, revising and issuing new regulations and
legal documents; reviewing existing programmes and policies; building new
programmes; reducing the dispersal of policies; increasing coordination;
integrating development goals; and increasing connections among policies.
Through
cooperation between Vietnam and development partners represented by the World
Bank, Vietnam has concentrated on important areas such as poverty
alleviation, increasing disadvantaged groups’ access to services and the
participation of the private sector in providing public services, protecting
the environment and increasing the competitiveness of the workforce through
vocational training and skill development.
According
to the MPI’s report, poverty reduction efforts have helped improve living
standards among ethnic minority groups.
The rate
of impoverished households nationwide has fallen from 58 percent in 1993 to
5.97 percent in 2014 and the rate among ethnic minority households continues
to fall by an average of three to four percent yearly.
In
addition, 84.5 percent of rural population have access to safe water and 62
percent of households nationwide have toilets meeting hygienic standards.
The
country has 1,456 vocational training centres, up 100 centres from 2014, and
training curriculum has shifted to meet market demands and the requirements
of economic development.
At the
conference, experts proposed providing additional services to ethnic minority
groups, integrating this idea into socio-economic plans and mobilising more
resources for poverty elimination.
Victoria
Kwakwa, the World Bank's Country Director for Vietnam, said development partners
recognise Vietnam’s achievements in alleviating poverty.
Vietnam
should, however, enact appropriate measures to improve the quality of its
workforce as an important factor of economic development in the context of
globalisation.
The
country, she said, needs to complete legal frameworks and encourage private
enterprises to invest in water supply, drainage and waste water treatment
projects to increase the effectiveness of social capital and reduce the
burden on the state budget.
Institutional
reform is a prerequisite to restructuring the economy. Although in recent
years, the Vietnamese Government has adjusted policies to befit a market
economy, the efforts are only beginning steps.
She
hoped that in 2015-2016, institutional reforms would continue and facilitate
economic restructuring.
The VDPF
was firstly held in 2013, replacing the Consultative Group Meeting of Donors.
It reflects a shift in Vietnam’s status from a recipient of official
development assistance (ODA) to a development partner of other countries and
international organisations.
The VDPF
2014 focused on reforming economic institutions and strengthening
self-reliance and competitiveness of the Vietnamese economy.
Vietnam
Airlines to serve fresh lychees
The national
flagship carrier Vietnam Airlines in collaboration with Bac Giang province
will feature fresh lychees for dessert on over 1,400 domestic flights from
June 23, announced the Vietnam Aviation Corporation.
The
supplied lychees are high-quality and fully comply with hygiene and food
safety standards.
The move
was designed to meet the demands of domestic and international passengers of
Vietnam Airlines as well as contribute to consuming part of the 33 tonnes of
fresh lychees produced Luc Ngan district in Bac Giang province.
As
scheduled, the lychee desserts will be served until the end of this year’s
harvest.
Aquaculture
eyes int'l standards
Vietnam's
Directorate of Fisheries (D-Fish) and the Aquaculture Stewardship Council
(ASC) will work together on promoting responsible aquaculture in the country.
A
Memorandum of Understanding to this effect was signed by the two sides at a
workshop held on June 22, the first day of the Responsible Business Forum in
Hanoi.
Under
the MoU, the two sides will co-operate on upgrading aquaculture practices
with a step-by-step approach, moving from VietGap standards to ASC
certification.
Pham Anh
Tuan, deputy head of D-Fish, said that aquaculture was one of four key
components of Vietnam's fisheries industry, accounting for 60% of its total
output, which is expected to rise to 70% by 2020.
The
introduction of national Good Agricultural Practices (VietGAP) by the
Agriculture Ministry was aimed at promoting sustainable aquaculture, and the
latest initiative would take the process further ahead, Tuan said.
The
workshop reviewed differences between VietGAP and ASC standards, and reached
agreement on implementing a joint project that will guide VietGAP certified
farmers to reach ASC certification.
Tuan
said the Vietnamese government had been committed to reducing the negative
impacts of fish farming in the country, and building on the mandate that
farms must meet VietGap standards, the new project would help them move
towards an internationally recognised standard.
This in
turn, would provide firms with greater access to international markets and
ensure a more responsible aquaculture sector, he added.
In 2014,
the Government issued a decree on breeding, processing and exporting catfish,
stipulating that farms must acquire VietGAP or equivalent certification by
the end of 2015.
ASC
Managing Director Chris Ninnes said that through this project, his agency was
engaging with farmers not currently able to meet ASC requirements, including
smallholders.
They
would benefit from greater support in improving their practices, he said,
adding that this approach would also enable the ASC to become a more
efficient service provider by reducing costs for producers who wish to gain
ASC certification.
The ASC
has so far granted quality certifications to around 3,000 labels and over
500,000 tonnes of products in the world market.
Workshop
participants said aquaculture certification played an important role in
promoting and assuring responsible practices that protect the environment and
communities.
The new
project, led by an external consultant, had the potential to lead to greater
collaboration between the two organisations by adopting an area-based
management approach, they added.
Lotte
to further invest in Hanoi trade centres
Lotte
Coralis Vietnam Co. Ltd has finalized formalities to add US$30 million to its
investment capital in Hanoi while Lotte Mart has planned to pour an
additional US$14 million in the capital city, according to a recent Hanoi’s
socio-economic report.
Lotte
Group made a debut in Vietnam in 1996 and is expanding investment in
different fields.
Lotte
Coralis is the manager of Lotte Center Hanoi, the second tallest building in
Vietnam. The 65-story tower accommodates above-ground office, residential and
hotel spaces and basement parking and mechanical spaces.
With a
total registered capital of US$400 million, the project was put into
operation in September last year after five years of construction.
Currently,
Lotte Mart manages two shopping malls in Hanoi and ten department stores
nationwide. It expects to open 60 stores in Vietnam by 2020.
Besides
Lotte, Hanoi has accelerated the process of granting licenses to other
investors including Metropolis Hanoi with a total investment capital of
US$222.4 million and Aeon-Long Bien trade center with an investment capital
of US$15 million.
By the
end of June, Hanoi has attracted US$501 million in foreign direct investment
(FDI) while FDI disbursement is estimated to reach US$460 million, up 2%
compared to the same period last year.
Vietnam
seeks cooperation opportunities with Czech locality
Vietnam
Ambassador to the Czech Republic Truong Manh Son has emphasised that Vietnam
wants to enhance cooperation with Liberec province basing on the two sides’
potential.
At a
June 22 meeting with Liberec provincial leaders, Son said some Vietnamese
localities have a developed tourism industry and travel-related services
similar to Liberec.
Some
provinces boast of long beaches with white sand, which is suitable for
developing the glass and crystal industries. However, until now they have
exported it as raw materials only.
Son
hoped that the Czech Republic will assist Vietnam in glass and crystal
processing for domestic use and export.
Currently,
the Czech Republic is following the look-east policy, giving priority to
developing ties with Asian countries, including Vietnam. The Czech Ministry
of Industry and Trade has listed Vietnam as one of its 12 key trade partners,
Son revealed.
It also
pledged to help Vietnam deeply penetrate the European market while Vietnam
will create a niche for Czech businesses to expand cooperation with ASEAN.
Liberec
provincial governor Marin Puta, in turn, asked Vietnam to list potential
fields of cooperation and Liberec will work with relevant agencies to draft
specific cooperation projects.
Governor
Puta praised overseas Vietnamese contribution to Liberec development and
believed that second-generation OVs will constitute a bridge for economic and
trade development links between the two sides.
On the
same day, Ambassador Son discussed with Liberec city’s leaders measures to
help OVs better integrate into their residing society.
Vietnam's
largest iron ore mine faces funding crisis
State-owned
mining group Vinacomin may have to increase its stake in Southeast Asia's
biggest iron ore mine, after several investors decided to withdraw from the
US$642 million project.
Local
media quoted the government as saying on June 21 that if the remaining
investors failed to pump more money into the project by July 15, Vinacomin
will have no choice but to take care of the funding problem itself.
Since
work started on Thach Khe Iron Ore Mine in the central province of Ha Tinh in
2009, the project, estimated to cost over VND14 trillion (US$642.49 million),
has been struggling with funding.
The
initial plan was that 30% of the projected cost will be contributed by Thach
Khe Iron Ore JSC, which is a joint-venture of nine companies including
Vinacomin.
However,
as of 2013, four of the company's investors, all state-owned companies,
pulled out of the project, as part of their plan to restructure their own key
operations.
By then
the company's capital was over VND144.1 billion (US$6.6 million), of which
Vinacomin owned 66.2%.
The
company's management board has been ignoring the offer of Japanese-owned
construction firm Kobelco to buy a stake since 2013, news website Dau Tu of
the Ministry of Planning and Investment reported.
Located
about 66 kilometers from Vung Ang Port, Thach Khe Mine was discovered in 1960
with 544 million tonnes of iron ore reserves, or more than half of the
national reserves.
Sustainable
farming in focus
Over 350
delegates from regional governments, businesses, and NGOs gathered in Ha Noi
yesterday to discuss various steps to boost the development of agriculture in
Southeast Asia.
The two-day
responsible business forum on food and agriculture, themed: ASEAN Beyond
2015: Collaboration For Equitable Growth, was co-organised by the Ministry of
Agriculture and Rural Development, Global Initiatives Organization, the Viet
Nam Chamber of Commerce and Industry (VCCI), and World Wild Fund.
The
forum set a goal for the ASEAN region of feeding a global population of 9
billion by 2050. For this, it will require transformational changes to
farming and agricultural systems, which are already under pressure from
climate change and water scarcity.
Delegates
at the forum agreed that feeding the world will present both challenges and
opportunities for the ASEAN region.
Juan
Farinati, the Vice President of Monsanto Asia-Pacific, which specialises in
supplying seeds for fruits, vegetables, and cotton, said that there was
"immense potential for collaboration and innovation to ensure food and
nutrition security as well as equitable growth across ASEAN."
"In
Viet Nam, better seed, farming practices, and market linkages have helped
8,000 farmers in the Mekong Delta earn approximately US$1 million incremental
income in a rice-to-corn rotation partnership in 2013-14."
At the
forum, Chairman of ASEAN Business Advisory Council Tan Sri Dr Munir Abdul
Majid observed that the major trouble in establishing collaborations in
regional agriculture was the fact that they had been working their own way.
He noted that climate change, natural disasters, low technology as well as
financial support only added to this problem.
Sharing
the same opinion, VCCI chairman Vu Tien Loc said local agriculture was facing
major threats from urbanisation, pollution, and climate change, making it
necessary to establish a sustainable future for better productivity of
regional agriculture.
Peter Timmer,
Cabot Professor of Development Studies, Harvard University, said the region
should have a free trade zone for rice as it was a staple food of all the
countries in the region.
Addressing
the challenges, delegates agreed that a transformation in farming systems
would help bring changes.
Citing
Viet Nam's case, Dang Kim Son, Director General of the Institute of Policy
and Strategy for Agriculture and Rural Development, applauded the benefits of
public-private partnerships (PPP) in the development of the country's
agriculture sector.
Son
noted that millions of tonnes of farm produce had been cultivated under the
PPP model, adding that such partnerships had attracted more investors to
local agriculture. At the same time, large local groups had also shifted their
interest to invest in this sector.
"If
the trend spreads to small and medium enterprises, it will add to the
collective strength needed to boost the industry," Son added.
A boost
of technology and good farming knowledge would not only bring opportunities
for farmers but also benefit consumers, said Siang Hee Tan, Executive
Director of CropLife Asia.
According
to a report from global agriculture company Syngenta, to increase 20 per cent
of average productivity without using more cultivated land, water, and input,
it will renovate 10 million hectares of farmland all over the world by 2020.
They have trained farmers, helping them improve their cultivated land and do
business. Syngenta has been conducting the same programme for corn and coffee
crops in Viet Nam in coordination with Tay Nguyen University and the National
Agriculture Promotion Centre.
As the
seminar closes today, participants will make suggestions to increase the
supply of rice, tea, dairy, coffee, maize, and aquaculture products produced
through sustainable farming techniques. They will also recommend measures for
sustainable land use, equitable opportunity for smallholder farmers,
increasing productivity, and improving rural livelihoods.
Enforcement agencies, firms to tackle trade in fake goods
Law
enforcement agencies and enterprises using fake brands need to co-operate to
prevent counterfeit commodities from being sold in Viet Nam,
anti-counterfeiting official has said.
Chairman
of the Viet Nam Association for Anti-Counterfeiting and Trademark Protection
(VATAP) Le The Bao said the production of contraband had become more
sophisticated, impacting domestic production – and health, in the case of
food and drink.
The
association said fake commodities were being sold in 30 product categories, including
cosmetics, beer, soft drinks, milk, telephones, motorbikes, petrol,
confectionery goods, electronics and veterinary medicine. Sai Gon
Beer-Alcohol-Beverage Joint Stock Corporation,Sabeco, has strengthened its
trademark protection to combat prevalent fake beer sales.
Sabeco's
Director Pham Hong Hanh said law enforcement authorities found two cases of
fake Sabeco production in HCM City. City police seized 2,200 counterfeit
beers at workshops in Binh Tan and Tan Binh districts.
"The
company's directorate closely co-ordinates with sale agents, market
management officials and economic policemen to discover fake production
cases," Hanh said. "Whenever we find fake products, we will
co-operate with law enforcement authorities to bring the offenders to justice.
We also speak with the media about that."
The Viet
Nam General Department of Customs seized products in 80,000 counterfeit,
trade fraud and smuggling cases in the first five months of this year. Of
these, 8,800 involved fake products. Police prosecuted 40 people involved in
25 cases.
Garment
producers have become increasingly concerned with protecting their brands
since Viet Nam joined the World Trade Organisation in 2007. There are more
than 30 made-in-Viet Nam brands nationwide.
Le Tien
Truong, General Director of Viet Nam Textile and Garment Corporation
(Vinatex), said Viet Tien Garment Company and Garment 10 Joint-stock Company
used advanced technology to make convincing fakes. Garment 10 has been
increasing its presence nationwide.
Bui
Quang Chuyen, General Director of Viet Nam Engine and Agricultural Machinery
Corporation, said the fines for these crimes needed to be raised.
He
suggested that the National Office of Intellectual Property of Viet Nam under
the Ministry of Science and Technology re-check brand names for each product,
avoiding repetition of brand names and confusion.
Fake
products are often imported from China – especially cosmetics – in addition
to being manufactured locally.
Stable
interest rates forecast
Interest
rates in the second half of this year will remain stable as inflation has
been predicted at 3-3.5 per cent this year, said deputy governor of the State
Bank of Viet Nam.
Addressing
a press conference in Ha Noi yesterday to review the performance of the
banking sector in the first half of the year and prepare for the second half,
deputy governor Nguyen Thi Hong said that the interest rates of the whole
banking system had remained stable and kept decreasing against the rates last
December, although some banks had recently raised their deposit interest
rates, causing concerns about a possible rise in lending rates in the coming
months.
"Medium-
and long-term [more than six months] deposit rates have relatively been
stable, though some large-sized banks had recently lifted their short-term
[under six months] deposit rates," she said, adding that the raise was
unpopular.
Hong
attributed the hike to the reason that large-sized banks had previously cut
their short-term rates significantly and offered rates lower than that of
other banks thanks to their abundant liquidity.
Therefore,
their hike now made their rates only equal to that of other banks and not
higher than the average rates of the whole banking system.
However,
Hong said, the central bank would continue executing various policies to keep
the rates stable as targeted earlier this year.
"The
central bank will closely watch the market to take timely and suitable
measures through open market operations, as well as support liquidity for
credit institutions to meet the target," she pointed out.
At the
conference, director of the SBV's Monetary and Policy Department Bui Quoc
Dung reported that deposit interest rates in the first half of the year
reduced by 0.2-0.5 per cent against that of December last year, mainly for
terms of more than six months, thereby bringing the medium- and long-term
lending interest rates down by 0.2-0.3 per cent to roughly 9-11 per cent per
year.
Dung
further said that by mid-June, credit rose 5.78 per cent against that of
December last year and up 18.98 per cent year-on-year, the highest since
2012. Of this, the total outstanding loans to agricultural and rural areas
surged 7.71 per cent, while the increasing rates for the exports of small and
medium firms, supporting industries, and high-tech firms were 3.9 per cent,
1.88 per cent, and 24.02 per cent, respectively.
As
concerns were raised that high credit rates to the real estate sector during
the past months might cause a ‘bubble' in the property market as earlier,
Hong said that the rise was not a jump. She reported that the credit to the
real estate sector by the end of May rose 10.89 per cent and accounted for
8.3 per cent of the total outstanding loans, compared with 7.96 per cent of
the same period last year.
Hong
also said that the credit hike for the real estate sector during the past few
months was positive as loans were mainly channelled to the construction and
completion of works, which contributed to reducing the stockpile of the
building materials sector.
However,
Hong noted, the central bank would continue monitoring the credit flow to the
real estate sector and take timely measures to control any possible risk.
At the
conference, the central bank also affirmed that in the second half of this
year, it would continue creating policies to maintain the devaluation of the
Vietnamese dong against the US dollar by no more than 2 per cent for the
whole year as targeted.
Source : VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Bảy, 27 tháng 6, 2015
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