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BUSINESS IN BRIEF 2/8
Firms
see both opportunities and challenges from FTAs
Gold
opportunities as well as simultaneous tremendous challenges will be brought
to Vietnamese businesses when free trade agreements (FTAs), including the
Trans-Pacific Partnership (TPP) agreement come into effect, heard a
conference in the Mekong Delta city of Can Tho on July 29.
Both
foreign and domestic economic experts said that Mekong Delta enterprises need
to proactively assess the impacts of free trade deals to minimise risks while
stepping up competitive capacities.
They
also agreed that in addition to changes in enterprise management style, it is
crucial for local businesses to renew production technologies, expand
investment and make the best of e-commerce.
According
to PhD Vo Hung Dung, Director of the Can Tho Branch of the Vietnam Chamber of
Commerce and Industry (VCCI), the establishment of the ASEAN Economic
Community at the end of this year as well as free trade deals will bring
development opportunities for Mekong Delta enterprises.
Agriculture
and aquaculture are Mekong Delta region strengths, creating favourable
conditions for local enterprises to purchase raw materials at low costs while
limiting the dependence on foreign material sources, Dung said.
He
added that thanks to modern equipment, agriculture and aquaculture processing
for export in the region has seen stellar achievements.
However,
low competitive capacity of the region’s localities, limited capital for
investment expansion and lack of high-skill workers remain barriers to
regional economic development, experts said.
Economic
activities are also hampered by inefficient credit policies in the Mekong
Delta region, as they are unable to stimulate enterprise production.
Inadequate business preparations for global integration is also seen as a
challenge to boosting the economy.-
Developing
brands helps businesses improve competitiveness
The
role of national brands in the context of intensive and extensive
international integration was the main theme of a workshop held by the
Ministry of Industry and Trade’s Trade Promotion Agency in central
Speaking
at the event, which was part of the 2015 National Brand Programme, deputy
head of the agency Do Kim Lang stressed that brand names are among the
important factors contributing to maintaining and expanding domestic and foreign
markets for enterprises, improving commercial civilisation and preventing
negative competition.
Enhancing
brand names will help businesses increase their competitiveness and gain a
firm foothold on the market, he added.
The
National Brand Programme, approved by the Prime Minister in 2003, has been
held biennially since 2008 to build
However,
experts said that most small- and medium-sized enterprises are currently
incapable of building national brands.
To
build and develop national brand names, Bernd Khunemund, a senior consultant
on marketing and branding from
He
suggested renovating the quality of products in line with market demands to
popularise brand names on the international market.
Coffee
industry aims to increase added value
The
Ministry of Agriculture and Rural Development is planning to invest in
advanced technologies to enhance the value of the coffee sector through
improving productivity and product quality.
This
is part of activities to implement the ministry’s master plan to develop the
coffee processing system by 2020 in a bid to increase the added value of
domestic coffee products.
The
sector also seeks to foster connections between farmers and processing
enterprises to ensure sustainable development of the sector.
By
2020, the sector aims to to increase coffee products for consumers to at
least 25 percent of the total coffee output, of which the total yearly
productivity of roasted and ground coffee will reach 50,000 tonnes and that
of instant coffee will be 255,000 tonnes.
By
2030, it is expected that roasted and ground coffee output will exceed 50,000
tonnes per year while instant coffee will exceed 350,000 tonnes per year to
meet domestic demand and export.
According
to Vo Thanh Do, Deputy Head of the ministry’s Agro-Forestry, Seafood
Processing and Salt Industry Department , there are currently 239 coffee
processing firms across the country, the majority of which are located in the
south-eastern and
Nearly
80 percent of the firms are non-state enterprises and 10 percent are foreign.
Non-state enterprises produce more than 1.24 million tonnes of coffee each
year, including coffee beans, roasted and ground coffee and instant coffee,
making up of 96 percent of the nation’s total output.
However,
finished processed coffee products such as roasted and ground coffee and
instant mixed coffee like three-in-one and two-in-one account only for 4.1-6
percent of the total coffee production, which has limited the added value of
the coffee sector , Do added.
Currently,
some 26,095 tonnes of roasted ground coffee are produced by 160
establishments each year, while 19 firms produce 75,280 tonnes of instant
coffee. Together, they have generated an added value that is much higher than
the amount from exporting coffee beans, Do commented.
The
ministry has set its sights on yearly revenues of 3.8-4.2 billion USD from
coffee exports by 2020 and 4.5 billion USD by 2030.-
Conference
reviews six-month economic performances
The
economic situation of the first half of 2015 and relevant growth measures
were discussed during a conference hosted by the Central Institute for
Economic Management (CIEM) in
Accordingly,
the industrial and construction sectors were the driving force behind
economic growth. Earnings from exports hit 70.9 billion USD in the period, up
14.9 percent from 2014. The country also recorded a low inflation rate. Local
demand and business operations have recovered since April, stimulating a GDP
surge.
Underscoring
the positive outlook of the economy through the end of the year, Nguyen Tu
Anh, Deputy Head of the macro-economic policy section under the Central
Institute for Economic Management (CIEM), noted the necessity of focusing on
macro-economic stabilisation, mechanism overhaul and infrastructure and
resources development.
Meanwhile,
CIEM Director Nguyen Dinh Cung said economic restructuring has yet to reach
expected results, reflected in the slow equitisation of State-run businesses
and the handling of bad debts.
He
added that the re-allocation of national resources should not be done by the
State but rather be prompted by the market.
At the
conference, economists proposed additional governmental assistance towards
enterprises operating in the support industry while urging the acceleration
of the economic restructuring process.
National
resource distribution ought to be based on the reduction of public investment
and enhancement of private involvement, they highlighted.
Dong
Nai sees strong export growth in seven months
Southern
Dong Nai province imported approximately 7.9 million USD worth of commodities
in the first seven months of 2015 while its exports exceeded 8.4 billion USD,
up 13.2 percent annually, reaching a trade surplus of 500 million USD.
According
to the provincial Department of Industry and Trade, the province’s exports in
July rose by 5.8 percent from the previous month to 1.4 billion USD.
Its
key export earners continued to expand in July, including footwear (up 17.7
percent); garments-textiles (8.8 percent); bags, purses, suitcases and hats
(28.4 percent); wooden handicrafts (15.7 percent); vehicles and components
(33.9 percent); cashew nuts (29.4 percent); and pepper (5.5 percent).
The
locality has expanded the availability of its export products in dozens of
overseas markets, notably the
E-commerce
provides ideal environment for SMEs: expert
Internet
and e-commerce is a good environment for small- and medium-sized enterprises
thanks to its advantages in low transaction cost, equal playground, extensive
market, and reduced operation expense, as heard at a seminar on e-commerce in
According
to Nguyen Dinh Chuc, head of the Institute for Regional Sustainable
Development under the
Between
2012 and 2013,
The
number of internet users rose by 12.5 percent per year to reach 33.2 million,
while the number of 3G service subscribers hit 17.2 million, he noted.
Chuc
held that e-commerce also helps raise added value and provides fresh business
ideas to enterprises, citing that 87 percent of surveyed firms said they
search for information in websites run by State agencies, 48 percent said
they have used online public services, and 33 percent seek biding information
in State agencies’ websites. As many as 83 percent of surveyed businesses
said they find online public services useful for their operation, he said.
However,
he asserted that e-commerce service cost remains high, accounting for about
20 percent of enterprises’ revenues, coupled with challenges in trademark
protection.
Meanwhile,
the management of e-commerce faces many difficult as it is new to the
country, while trust in online advertised products’ quality stays low and legal
environment and socio-economic infrastructure remains insufficient. That is
why e-commerce accounts for only 0.3 percent of total retail revenue despite
the high rate of 92 percent of internet users surf the net every day, he
explained.
Seminar
gauges the power of national brand
Hundreds
of representatives from 85 businesses across the nation gathered in
“Maintaining
a positive national image is an essential ingredient for export and
investment promotion,” said Do Kim Lang, deputy head of the Ministry of
Industry and Trade’s Trade Promotion Agency.
In
addition, in the context of
The
Peru Embassy in
Trade
representative Luis Tsuboyama provided an overview of the great potential for
trade and investment, saying that last year's total trade volume between the
two nations hit a record high of US$300 million.
In
addition, he assured attendees that the government of
He
also extended an invitation to attend the largest food expo in Latin America,
which is held annually in
A
representative from the Peru Ministry of Agriculture, Jose Luis Rabines, in
turn provided an overview of the nation’s agriculture industry along with
nutritional information and a list of products made from maca and quinoa
nuts.
Issues
mount as final round of TPP negotiations wrap-up
The
final round of negotiations for the Trans-Pacific Partnership (TPP) have on
July 26 concluded in Hawaii and all that remains is ratification by the individual
separate governments of the 12 member nations.
Leading
economists and government officials have said if
The
proposed TPP agreement, whose provisions are only now starting to surface,
encompasses twelve countries, namely: Vietnam, the US, Australia, Brunei,
Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru and Singapore
(TPP12).
The
combined goods and services trade of the TPP 12 parties is approximately
US$27.5 trillion, comprising 40% of the global gross domestic product (GDP)
and one-third of world trade.
This
broad coverage trade seems to support the assertions that
Most
of the TPP negotiations have been undertaken by those at the bargaining table
based on the principle that all tariffs, quotas and other trade barriers on
agricultural products be totally eliminated.
In
addition,
However,
whenever there is a principle, there are always exceptions in real life and
most certainly not all tariffs will be eliminated as sources in the
According
to Japanese media sources, the results of the negotiations seem to be that:
tariffs on rice, wheat and sugar will not be eliminated and current tariff
rates will be maintained.
In
addition, tariff rates will only be reduced and not entirely removed on beef,
pork and dairy products in the
Currently,
in line with rules set by the World Trade Organization,
All
indications at this point in time seem to suggest that
It has
often been said that the TPP is in many respects more like managed trade
between the TPP12 than it is per se – free trade – but without a doubt it is
a bold new step in the right direction for
However,
in order to seize the TPP opportunities,
Agriculture
needs revolutionary breakthroughs in management and investment in order to meet
the welcomed and major challenges brought about by this historic agreement
Son has said.
Provisional
funds hit record high due to new regulations
Credit
institutions had to provide nearly VND89.7 trillion (US$4.13 billion) of
provisional funds by the end of June, due to the application of new
regulations earlier this year.
VnEconomy
quoted a source from the State Bank of
The
central bank said the increase in provisional funds was due to new
regulations related to debt classification and risk provision, such as
Circular 09 and Circular 02 that came into effect early this year. Under the
new regulations, which are aimed to help the Government make an accurate and
adequate appraisal of the lenders' non-performing loans (NPLs) to control bad
debts better, more loans have become NPLs, and banks need more provisional
funds to support the risk of the bad debts.
According
to the central bank, by the end of September 2012, the lenders reported to
the central bank a total of VND133 trillion ($6.12 billion) in NPLs, equal to
4.93 per cent of the total outstanding loans. However, after cautious
calculation, the central bank's figure was nearly VND465 trillion ($21.4
billion), or 17.21 per cent of the total outstanding loans.
By the
end of 2014, NPLs reduced to touch VND214.9 trillion ($9.9 billion), or 4.83
per cent of the total outstanding loans, after the banking system handled
VND311 trillion ($14.53 billion) of NPLs, or 67 per cent of the total NPLs
unveiled by the end of September 2012.
Large
amounts of provisional funds for bad debts whittled away significant profits
of credit institutions in H1, though their credit growth was high.
For
example, Vietcombank Chairman Nghiem Xuan Thanh said the bank earned about
VND6.04 trillion ($287.62 million) in profits during H1, an increase of 16.6
per cent over the same period last year. However, the establishment of a
provisional fund of nearly VND2.30 trillion ($109.52 million) resulted in the
real H1 profit of only VND3.04 trillion ($144.76 million), which represented
a year-on-year increase of 9.45 per cent.
The
central bank recently also urged credit institutions to speed up the sales of
bad debts to the Viet Nam Asset Management Company (VAMC), in a bid to reduce
the overall NPL ratio in the domestic banking system to less than 3 per cent
by the end of September this year.
Firms
urged to develop global brand recognition
Enterprises
were urged to attach special importance to building their brand names during
a seminar held in the central city of
Do Kim
Lang, the deputy head of the Viet Nam Trade Promotion Agency (Vietrade), said
brand names were important in helping companies maintain and expand markets
both domestically and abroad, as well as in resisting unhealthy competition.
The
importance must especially be highlighted now when local firms were facing
stiff competition right at home, as the country was getting more and more
integrated into the global economy, he said.
"Worldwide
countries in general and ASEAN nations in particular are racing in enhancing
competition capacity, considering trade name development a core engine. Still
this issue is receiving inadequate attention in
Lang
said enterprises whose names have been recognised in the National Trade
Promotion Programme, which has been organised every two years since 2008, are
mostly major firms.
Small-
and medieum-sized companies, with capacity remaining inadequate, have not yet
been able to build such a national name.
Some
companies, which have already achieved the national brand names, still show
limited ability in laying their footprints in international markets due to a
lack of mutual linkages.
Thach
Bich Mineral Water Factory Director Ho Van Van said his firm has continuously
tried to improve the quality of products, and its name has been nationally
acknowledged last year as part of the effort.
The
company currently sells 20 kinds of products in different markets, including
Increasing
mergers and acquisitions in this industry over the last few years have made
it even more difficult for the domestic firms to develop national names, Van
added.
Bernd
Khunemund, a senior marketing and brand name consultant from
Enterprises
must show a vital role in this process by renewing their products to meet
international demand, he noted.
Deputy
Prime Minister Hoang Trung Hai said at a Vietrade's event earlier this month
that trade promotion activities should focus on enhancing the export of key
Vietnamese products, and the consumption of local products in home markets.
The
Local
firms eye South African market
Charge
D'Affaires of the South African Embassy in Ha Noi Mat Matiwane made this
announcement at a workshop on the Viet Nam-South Africa Trade and Tourism
Opportunities Promotion, held in
He
said
He
stressed that Vietnamese telecommunications company Viettel Group had begun
operations in
The
workshop, which was organised by the Viet Nam Chamber of Commerce and
Industry (VCCI) in collaboration with
According
to VCCI's Da Nang office, only 20 enterprises from Thua Thien-Hue, Quang Nam
and Da Nang export crafts, fine arts, leather and garments, as well as bamboo
and rattan products and stone sculptures valued at hundreds of thousands of
dollars.
Workshops
have been organised by the VCCI and the Embassy in the
In
March, a familia-risation trip was held for travel agencies from
According
to VCCI, bilateral trade reached a value of $962 million last year, a
year-on-year increase of 5 per cent, with
The
central coastal city of
Machinery
needed to cut post-harvest losses
The
Minister of Agriculture and Rural Development, Cao Duc Phat, said this week
that post-harvest losses in farm production were still high due to the low
growth of mechanisation.
Phat
was speaking at a conference to review the implementation of Prime
Ministerial decision No 68/2013/Qd-TTg to reduce post-harvest losses.
He
said the implementation of the policy was at a low level and focused mostly
on rice.
Post-harvest
losses of rice in
In the
past five years, the Government has issued several polices to support farmers
invest in machinery and equipment to reduce post-harvest losses.
However,
An Van Khanh, deputy director general of the Department of Processing and
Trade's Agro-Forestry-Fisheries Product and Salt Production, said the
reductions only focused on rice.
He
said no attention had been paid to other crops, farm animals or fish and
prawns. As a result, post-harvest losses of rice were limited, while losses
in orchards, fisheries and sugarcane industries were high.
Prime
Ministerial decision 68 replaced two decisions (63/2010/QD-TTg and
65/2011/QD-TTg). The new regulation broadens the variety of produce from
farms. It does not include the old requirement that all machines under the
scheme must be mostly made in
Many
rice farmers have been active in buying machines and equipment for
agriculture production thanks to these incentives. However, the number of
farmers who can access loans is still limited.
According
to reports from the State Bank of Viet Nam, loans for the policy so far
totalled VND3,468 billion ($158.9 million).
Doan
Xuan Hoa, deputy chairman of Vietnamese Society of Agricultural Engineering,
said VND1,030 billion ($47 million) had so far been paid back, but added that
this was not enough.
He suggested
the Government raise the total value of loans.
The
Ministry of Agriculture and Rural Development (MARD) wants to reduce
post-harvest losses from the current 10 per cent to between 5 and 6 per cent
for rice; from 15 per cent to 9 per cent for maize; and from 20 per cent to
below 10 per cent for fisheries by 2020.
To
achieve the target, participants at the conference proposed MARD to work with
the Ministry of Industry and Trade to review the list of machines and
equipment that farmers can purchase under the scheme.
They
suggested the State Bank of
Domestic
agricultural exports drop 3.6 per cent in first seven months
The
agro-forestry-fishery sector's export turnover was estimated at US$16.93
billion in the first seven months of 2015, the Ministry of Agriculture and
Rural Development announced.
This
indicates an overall annual drop of 3.6 per cent. The fisheries sector saw
the strongest decline of 17 per cent in the first seven months, reaching
$3.53 billion, compared with the same period last year.
The
Meanwhile,
the key farming products showed a year-on-year reduction of 5.7 per cent,
falling to $8.2 billion. Earnings from the export of coffee saw the largest
drop (down 33.7 per cent), followed by rubber (down 9.2 per cent) and rice
(8.3 per cent).
During
the period, the coffee industry experienced a year-on-year dip of 33.7 per
cent in export value, reaching $1.63 billion, compared to the same period
last year.
The
rubber industry sold 519,000 tonnes of commodities overseas and earned $760
million. The exports had an annual increase of 13.9 per cent in volume but a
drop of 33.7 per cent in value. Rubber prices were reported to climb only in
Exported
rice has undergone a similar downward trend, with the volume and value
reducing annually by 3.1 per cent and 8.3 per cent, respectively.
The
tea industry also saw an annual reduction of 5.7 per cent in export value to
$111 million in the first seven months.
On the
other hand, the ministry said cassava exports in the first seven months of
this year gained the highest increase of 30.9 per cent in value, reaching
$886 million, compared with the first seven months of last year, reported.
The
cashew nut industry enjoyed a seven-month export value growth of 26.6 per
cent to reach $1.34 billion compared with the same period last year.
Wooden
products showed a year-on-year increase of 8.3 per cent in export value to
reach $3.7 billion. Meanwhile, pepper exports also followed the positive
trend.
A
French secretary of state was in
Martine
Pinville, Secretary of State for Trade, Crafts, Consumer Affairs and the Social
and Solidarity Economy, said
The
diplomat visited
Vietnam
was the last in the ten-country ASEAN bloc, with the other nine countries
being Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei,
Cambodia, Laos and Myanmar, to lift the import ban on French beef.
Pinville
talked with Vietnamese Minister of Agriculture and Rural Development Cao Duc
Phat on Monday and met with local businesses the following day to study
market demand for French beef.
The
secretary of state said she had presented 22 applications of French
businesses for the relevant Vietnamese agencies to consider.
Pinville
expressed her hope that the results will come in August and French firms will
soon be able to ship their products to
The
ambassador said the French side has to continue working with Vietnamese
agencies so that more beef products will be allowed.
In
return,
Agricultural
trade between
The
Southeast Asian country this month also lifted a ban on the import of French
apples, which had been in place since 2012.
Pinville,
the secretary of state for trade, said this was the result of a trip by
Vietnamese officials to examine apples in
In the
meantime,
The
French ambassador said
French
exporters of kiwi are also hoping that their produce can enter the Vietnamese
market soon, the ambassador added.
Trade
between
Industrial
production index rises 9.9 percent in seven months
The
industrial production index in July grew by 11.3 percent over the same period
last year, contributing to a year-on-year increase of 9.9 percent in the
first seven months of this year, the General Statistics Office reported on
July 29.
The
In the
two biggest cities of Hanoi and Ho Chi Minh City, the industrial production
index expanded by 7.1 percent and 6.5 percent respectively.
During
the period, the country counted over 52,000 new start-up businesses
registering 321.3 trillion VND (13.9 billion USD) in capital, a year-on-year
rise of 22.7 percent and 22.4 percent respectively.
Businesses
committed 686.5 trillion VND (31.48 billion USD) in total newly registered
and supplemented capital to the local economy over the past seven months.
Start-up
companies generated jobs for over 743,000 workers in January-July, a yearly
increase of 18.2 percent.
Another
RoK firm invests in Yen Phong Industrial Park
A food
processing and beverage factory invested by an enterprise from the
Viglacera
Corporation – the owner of the industrial park - unveiled that Viglacera Real
Estate Company has signed a contract to lease 66,000 sq.m to the Ottogi
Vietnam Co., Ltd, who will established a 10 million USD food processing and
beverage factory in the industrial park.
Viglacera
Corporation pledged to create favourable conditions for the Ottogi Vietnam
Co. Ltd, to begin operations as schedule.
Ottogi
Leased
ports underperforming
Cargo
throughput at the ports leased to private firms such as Cai Mep International
Terminal and An Thoi Port in the first half of 2015 was much lower than their
designed capacity despite increasing demand.
The
Vietnam Maritime Administration reported that in the first six months Cai Mep
terminal in Ba Ria-Vung Tau Province posted revenue of over VND41 billion and
handled 80,000 tons of bulk cargo and 47,240 TEUs. Cargo throughput
represented about 10% of capacity.
January-June
saw 26,488 tons of cargo going through An Thoi Port on
Of the
three ports leased last year, only Thi Vai General Cargo Terminal in Ba
Ria-Vung Tau Province performed better with cargo throughput of 948,000 tons,
about 50% of capacity. It obtained revenue of over VND38 billion.
Revenues
of all the three ports were much lower than the annual rent.
According
to port leasing firms, cargo throughput at Cai Mep and Thi Vai terminals in
the first half increased over 200% year-on-year. However, the leased ports
were still in difficulty due to the struggling domestic and regional
economies, falling service prices but rising operation costs, and poor infrastructure.
Port
leasing firms proposed agencies apply stricter rules on floor service prices
to prevent unhealthy competition as well as conduct regular maintenance and
dredging of navigational passages to allow large vessels to visit ports.
Earlier,
the Ministry of Transport approved fixed package leasing prices of US$219.57
million for Cai Mep terminal and over US$130.5 million for Thi Vai General
Cargo Terminal, all for a period of 30 years.
The
Cai Mep-Thi Vai international port complex in Tan Thanh District, Ba Ria-Vung
Tau Province was put into operation in late January 2013. The project cost
nearly VND13 trillion, financed by
For An
Thoi Port, the 30-year fixed package price is VND88.9 billion (around US$4
million).
Jan-Jul
rice, seafood exports dip
Outbound
sales of rice and seafood in January-July have dropped by 12% year-on-year to
US$5.1 billion, according to the latest report of the Ministry of Agriculture
and Rural Development.
The
ministry reported that
The
strong falls have resulted from the volatile exchange rate between the U.S.
dollar and
According
to the ministry, the rice export price fell 4.64% on average in the first
half to US$431.16 per ton. Rice exports to
Huynh
The Nang, chairman of the Vietnam Food Association (VFA) and general director
of Vietnam Southern Food Corporation (Vinafood 2), told the Daily that VFA
member companies had delivered over 1.2 million tons of rice as of June 18.
Meanwhile, small rice export shipments had totaled only 400,000 tons, well
below one million tons recorded in the same period last year.
Truong
Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters
and Producers (Vasep), said the volatility of the dong-dollar exchange rate
and fiercer competition from rivals like
Shrimp
export turnover could drop by a hefty US$700 million this year compared to
last year, Hoe said.
Rice
and seafood are the two major export earners of the Mekong Delta that make up
90% of
Vietnam
has enjoyed a trade surplus of nearly US$3.6 billion in agro-aqua-forestry
exports in January-July as the country has earned US$16.93 billion from
exports of these products in the period (down 3% year-on-year) and spent
US$13.34 on imports (up 7.1%).
HCMC
asked to produce fuels, diversify export products
The
Economic and Budgetary Committee of the HCMC People’s Council has asked the
city government to weigh plans to diversify export products and produce fuels
to counter the negative impact of the global oil price plunge on the city’s
export revenues.
Pham
Van Dong, head of the committee, made the proposal in an evaluation report on
the city’s January-June socio-economic performance at the opening of the 18th
session of the council on July 28.
As
reported by the city government, the city maintained stable economic growth
in the first half. Gross domestic product (GDP) grew 8.55%, the highest year-on-year
growth in three years, and an improvement in consumption contributed to the
high economic growth rate.
However,
as HCMC’s export turnover went down, Dong said, the city should work out
plans to process fuels and add value to export products to mitigate the
negative impact of the volatile oil price on global markets.
The
city government estimated January-July exports at US$17.6 billion, down 4.6%
against a year earlier. The decline is attributed to the crude oil price drop
of 47.4%.
According
to Dong, the city government should give more support to the sectors strong
in export, supporting and key industries as the city’s spearhead industries
of engineering, electronics, chemical-rubber-plastic and mining posted growth
of 5.5% in the first six months but the growth was not sustainable.
Despite
stable growth in the period, major woes like urban flooding, traffic
congestion and slow planning remained to be solved.
“Many
projects in the fields of transport, education and healthcare have been
moving slowly,” Dong said. “Slow planning has affected the legitimate
interests of citizens.”
Other
urban problems are the foot-dragging relocation of polluting producers and a
shortfall of effective solutions and sanctions against polluters and
factories with high fire and explosion risks. In addition, urban flooding has
not been solved.
Dong
requested the city government to report in detail on the performance of
State-owned enterprises and land management. The city should find ways to
achieve the target of supplying clean water to all households, and improving
the investment environment.
The
city needs to take bold steps to boost supporting industries and inform local
enterprises of the Trans-Pacific Partnership (TPP) trade pact and other free
trade agreements between
Also
on July 28, the Economic and Budgetary Committee said it had agreed on the
city government’s proposal to hike vehicle registration fees on
non-commercial cars of less than 10 seats and motorcycles.
Earlier,
the city government proposed the registration fee on non-commercial cars of
less than 10 seats from VND2 million to VND11 million a unit. The planned
fees on trailers and semi-trailers, motorcycles costing less than VND15
million, bikes worth VND15-40 million, and ones valued at over VND40 million
are VND150,000 per unit, VND750,000, VND1.5 million and VND3 million
respectively.
The
city will start to collect the new registration fees from this September if
they are approved by the HCMC People’s Council at its ongoing session.
Da
Nang should develop its own trademark, suggested CPG Corporation
At the
meeting, the CPG consultant suggested to support
Especially,
CPG group will help
The
CPG consultant said despite good infrastructure,
Mr.
Dylan Yee emphasised the need to develop
Vice
Chairman of
The
number of Japanese restaurants is rising rapidly in
At a
trade exchange in
According
to 2014 statistics,
JETRO
held such an exchange to connect Japanese and Vietnamese businesses in the
field of food and foodstuff.
The
two countries’ businesses signed 15 contracts in last year’s event.
This
year, JETRO expected to witness the successful signing of around 30-40
contracts to facilitate Japanese goods to
Spending
for importing cars goes up considerably
According
to the latest report of the General Statistics Office of
The
amount of Chinese-made trucks imported into
Besides,
In the
mean time,
The
total export turnover of
The
export of Vietnamese rice reduced nearly 9% in value.
The
report also noted that
In all
seven months this year,
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR
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Thứ Bảy, 1 tháng 8, 2015
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