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Current factors,
including the global recession, Chinese yuan devaluation and global
oversupply, do not support Vietnamese farm exports, experts say.
Exports unsatisfactory this year
Nguyen Do Anh Tuan, head of Ipsard (the Vietnam’s farm and seafood produce has become less competitive in price compared with Indian and Thai rice, Brazilian and Colombian coffee, Thai, Indian and Indonesian shrimp, and Indonesian and Malaysian rubber. As the Chinese economy takes a hit, the world’s economies, have been reeling as well. According to Tuan, in the first seven months of the year, Nguyen Trung Kien from Ipsard agreed that Previously, Kien noted that In 2013, Regarding coffee exports, since Brazilian and Columbian arabica coffee prices have decreased sharply as a result of the local currencies’ depreciation, Dim ray of hope Kien warned that weak competitiveness plus weak demand in the world market would still be big problems for The International Monetary Fund (IMF) and the World Bank (WB) and several other institutions all have predicted that the price of farm produce such as rice, coffee and shrimp would see a downward trend until 2020. A 7-13 percent decline in prices has been predicted for the next several years. TBKTSG |
Thứ Tư, 30 tháng 9, 2015
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Social News 30/9
Police
arrest women with rare turtles in luggage
Two
women have been caught while transporting nearly 100 endangered turtles, Nam
Tu Liem District police said yesterday.
The
pair was arrested near the My Dinh Bus Station in Ha Noi on Sunday after the
police found the turtles in their possession, hidden inside four
backpacks.
The
turtles were identified as rare Indochina box turtles, whose numbers are
reportedly in sharp decline as they are extensively hunted for their meat,
for use in medicines and for being kept as pets, the Institute of Ecology and
Biological Resources said.
The
police also arrested a woman in Ha Tinh Province, who allegedly supplied the
said turtles and a number of other wild animals.
The
case has been transferred to the prosecutor's office.
Rumours
hit big-drumstick chicken trademark
Concerns
have been raised after a story of Chinese merchants buying a large amount of
Dong Tao big-drumstick chicken’s eggs and chicks at steep prices was spread
in the media.
Distinctive
for its rough, gigantic drumsticks, Dong Tao chicken in the
Some
say the massive transaction is for breeding purposes that could harm the
trademark’s competitiveness while others have linked it with damaging
speculations in the past.
In
Dong Tao commune, Khoai Chau district, there is considerable anxiety among
more than 1,500 households who have cared for the distinguishable farm bird
for years, as they consider the whole story to be a detrimental rumour.
Vu
Dinh Trieu, a local farmer, declared there were Chinese men visiting and
learning about the chicken but there was no such massive purchase.
Sharing
Trieu’s opinion, Le Quang Thang, head of an association for Dong Tao chicken
farming and trade, informed that in recent years, tourists from Japan,
Thailand, Laos, Belgium and China have toured the locality and purchased
chicken and eggs with at a limited amount.
In
fact, it often takes months after pre-orders to deliver the local products,
which are only crossbred for commercial purposes.
According
to Nguyen Van Phu, Vice Director of Hung Yen’s Department of Agriculture and
Rural Development, his agency learned through working sessions with local
authorities that in the past three months, prices have maintained normal
levels and the chickens have expanded through good genetic preservation
programmes.
Egg
prices are between 50,000 and 80,000 VND (2.2-3.5 USD) each, while the chick
costs range from 250,000 – 300,000 VND (11-13.3 USD).
Funding
shortage hinders
Medical
experts are concerned that an outbreak of the HIV virus is likely to return
to
A
funding shortage could open the way to a potential health catastrophe, said
Nguyen Hoang Long, director of Ministry of Health's Department of HIV/AIDS
Prevention and Control, at a workshop held in Ha Noi last week to design an
HIV/AIDS Prevention for the 2016-2020 period.
It is
estimated that
About
80 per cent of funding for HIV response in
For
example, Global Fund to Fight HIV/AIDS will cease funding by 2015, the US
President's Emergency Plan for AIDS Relief (PEPFAR) by 2018.
Statistics
from the Department of HIV/AIDS Prevention and Control showed that as of
June, there were 227,114 people living with HIV in
The
HIV epidemic had spread to 99.8 per cent of districts and over 80.3 per cent
of wards and communes across the country.
Long
said ARV drugs could suppress the HIV virus, stop the progression of HIV and
reduce HIV infections in the community.
During
the 2011 to 15 period, the country saved 150,000 people living with HIV from
fatalities and helped 400,000 people avoid HIV infection.
Long
said about 98,000 people with HIV had received free ARV treatment in the
country to date. He said it cost about VND420 billion (US$19 million) a year
to treat 98,000 people with HIV.
Thus,
the cost for medical treatment for one person treated with ARV was about VND4
million (US$181) a year.
"As
funds dry up, many HIV carriers may abandon treatment because they cannot
afford it, raising the risk of those with HIV progressing to AIDS.
"Finding
alternative sources to maintain the provision of HIV related goods and
services is crucial," he said.
Long
stressed the need for increased budget allocation for HIV/AIDS prevention in
the coming years.
According
to the HIV/AIDs prevention plan for 2016 to 2020,
The
plan includes national targets of 80 per cent of the population aged between
15 and 49 having adequate knowledge of HIV, 80 per cent of the population not
discriminating against people living with HIV, and 90 per cent of people
living with HIV understanding their condition and receiving antiretroviral
(ARV) treatment.
HIV/AIDS
prevention in the future will focus on providing sterile syringes for drug
users, especially those in mountainous and far-flung areas, expanding the use
of new and traditional medicine in detoxification.
It
also concentrates on studying and applying preventive measures against HIV
and expanding the number of HIV testing clinics nationwide.
Thousands
live in danger of floods
Thousands
of households in the central province of Quang
The
provincial People's Committee plans to help more than 3,560 households living
in disaster prone areas build solid houses to protect against storms and
floods.
Each
household will receive a grant of VND12-16 million (US$533-711) and loans up
to VND15 million ($667) from the Social Policy Bank.
However,
many households have not started building work, the Tien Phong (Vanguard)
newspaper reported yesterday.
In Tam
Ky City, at least 30 households had been approved to receive money, but no
households had started building due to a lack of support, the report said.
Nguyen
Thanh Lam, chairman of Tam Thanh commune, said many households had refused to
receive the grant because it was not enough to build a solid house and they
would not be able to pay their debt if they take a loan.
Similarly,
only three of over 100 eligible households received money in Hoi An city
worth VND30 million ($1,330).
Head
of the Depart-ment of Labour, Invalids and Social Affairs in Hoi An City, Le
Viet Phuc, said most poor households were unable to build a new house with
the support available.
It is
estimated that a minimum of VND60 million ($2,700) is needed to build a new
house but State support and bank loans only amount to VND30 million,
according to poor households in Nong Son District's Que Trung Commune.
A
survey found about 67 out of 702 households in Nong Son district have been
approved to receive funding this year.
Local
authorities said that only a few households would build new houses with low
support, so they are mainly helping them to repair and upgrade their houses.
A
disaster prevention programme has been running in Dai Loc district's Dai Lanh
commune since 2013, helping residents build safer houses.
However,
many households remain in debt as they invested VND30-50 million
($1,330-$2,220) in building their houses.
Chairman
of the provincial People's Committee, Dinh Van Thu, said the province would
offer more funding besides State grants and loans.
The
province would also mobilise additional capital from the Fund for the Poor to
help poor people to build houses, he said.
The
Social Policy Bank is guiding bank branches at districts and cities to create
good conditions for borrowers and quickly expedite loan procedures.
Railway
service between
According
to Sai Gon Railway Company, the STC1 railway line, which will depart from
Thap Cham Station in
The
STC2 line will depart from Sai Gon Station at 10:25pm and arrive at Thap Cham
Station at 5:40AM. The new train service will also stop to pick up more
passengers at stations along the route.
The
price will range from VND198,000 to VND451,000. The company will reduce fees
by half on the two first days of service on October 3 and 4.
Thanh
Hoa to fight against child marriage
The
central
The
project will be implemented in the province during the 2016-20 period, with a
total capital of VND9.974 billion (US$443,500).
Statistics
from the province's Department of Ethnic Minority Affairs showed that there
were 1,207 child marriages and 86 marriages between bloods relatives in the
province between 2011 and June this year.
Most
of the above-mentioned marriages occurred within ethnic minority communities
and remote areas such as Muong Lat, Quan Hoa, Quan Son and Ba Thuoc.
Pham
Van Do, acting head of policy and information office under
He
also said the number of child marriages might be higher due to difficulties
in collecting information.
Every
year, 250 to 400 child marriages and more than 20 marriages between bloods
relatives are recorded in the province.
The
province is home to the six ethnic minority communities of Muong, Thai, Tho
and Mong, besides Dao and Kho Mu.
Once
the project implemented, it will help the local residents to understand
better the effects of child marriage and marriages between bloods relatives
on their lives.
Orbis
funds 1 million USD for eye care in Can Tho, Ca Mau
Orbis,
a US-based non-governmental organisation, will launch a project in the Mekong
Delta city of Can Tho and southernmost province of Ca Mau to offer care for
visually-impaired children from 2016-2018.
The
project costs 1 million USD, 700,000 USD of which will be spent on building
paediatric eye care facilities in Can Tho Children’s Hospital and Can Tho Eye
Hospital as well as improving refraction services and the professional skills
of medical staff, Orbis representatives told Can Tho authorities during a
working session on September 29.
Orbis
estimates that nearly 300,000 children in the Mekong Delta are suffering from
eye problems and about 1 million have refractive eye disorders.
The
ratio of ophthalmologists per one million individuals in the region is 7.6
percent, the second lowest nationwide.
Le Van
Tam, Vice Chairman of the municipal People’s Committee, pledged all possible
support for the project.
Founded
in 1982, Orbis is devoted to blindness prevention and treatment in developing
countries. It implemented its first hospital-based programme in
German
state grants scholarships to poor students in Thai Nguyen
The
Hessen State Ministry for Science and Art (HSMSA) and the German World
University Service (WUS) presented scholarships to 20 needy students from the
The
recipients are from remote or ethnic minority inhabited areas and boast
outstanding academic performance.
Each
scholarship was worth 5.1 million VND (226.8 USD) and prioritised
girls.
Over
the past 23 years, the German ministry has granted 200-300 scholarships to
students across
The
scholarships are part of an education cooperation programme between the
Vietnamese Ministry of Education and Training and the HSMSA which aims to
encourage disadvantaged students and those from ethnic minority groups to
study hard and perform well in school.
The
Vietnam-Germany University project, the first of its kind implemented by
Vietnam and the Hessen state since 2008, is considered the most remarkable
result of the two countries’ education partnership.-
Prospect
of
Current
developments and the prospect of
Professor
Ta Ngoc Tan, President of the Hanoi-based Ho Chi Minh National Academy of
Politics, said
According
to Professor Tan, ASEAN lies in a geo-political location of strategic importance
to
Bilateral
political ties have paved the way for ASEAN and India to develop a vibrant
and comprehensive partnership covering politics, national defence-security,
economics, trade, investment, energy, socio-culture, education-training,
science-technology, transport and people-to-people exchange.
For
her part, Indian Ambassador to Vietnam Preeti Saran said the ASEAN-India
relationship has extended into strategic areas for the sake of prosperity,
peace and stability.
She
commented that India-Vietnam trade, which hit targeted figures ahead of
schedule, is likely to play a more significant role once ASEAN establishes a
common Economic Community later this year.
Participants
extensively analysed achievements and hindrances to links between
During
the three discussion sessions, they also forecast the prospects of the
Measures
to increase the efficiency of
Government
Inspectorate opens training course for Lao officials
The
Government Inspectorate’s Training School opened a three-month course for Lao
Government Inspectorate officials on September 29.
The
course aims to enhance the officials’ theoretical knowledge and practical
capacity as well as skills in inspecting, dealing with complaints and
combating corruption.
During
the course, the Lao trainees will take part in several fact-finding tours to
a number of Government Inspectorate agencies and localities.
Addressing
the opening ceremony, Deputy Inspector General Nguyen Duc Hanh said training
is a highlight of the sound cooperation between the two Government
Inspectorates.
So
far, the Vietnamese side has organised three training courses for 47 Lao
officials together with a number of visits to exchange experience on
professional activities, he noted.
The
course is scheduled to conclude on December 26.
Flood-proof
measures sought in
International
experts and
The
experts suggested the city install larger piping in flood drainage systems
and expand and upgrade the sewage system across the city while zoning off
specific areas for temporary water facilities, such as lakes, reservoirs and
tunnels.
Long-term
facilities with visions through 2050 were also advised to be taken into
account.
A
German expert shared experience in water management, saying
In
order to ensure safety for residents, communication systems have been
developed to help inform the community of flood risks and infrastructure
facilities have been built at least four metres above sea level, the expert
said.
Others
from
Secretary
of the municipal Party Committee Le Thanh Hai highly valued the experts’
consultations and urged the local authorities to review current
counter-flooding projects to effectively tackle problems in flood-prone
areas.
The
city's sewage system, which was built in 2005, are no longer able to handle
such a large amount of water during the rainy season, according to Do Tan
Long, an official from the HCM City Anti-Flooding Centre.
The
city will continue with its anti-flooding effort by upgrading the current
sewage system, which stretches over 200km in length throughout the city,
dredging canals and building at least three more reservoirs in the next five
years, he added.
Measures
discussed to develop manpower
Measures
to develop human resources in
Speaking
at the conference, CIEM Deputy Director Nguyen Thi Tue Anh highlighted that
Meanwhile,
Toma Massaski from the Japanese Embassy in
He
stressed that high-quality manpower has a crucial role in increasing
productivity and contributing to the nation’s industrialisation, adding that
it is necessary to find key sectors where workers and employers are
harmonised.
Regarding
solutions to human resources development, Dr. Nguyen Van Thanh from the Hanoi
University of Industry recommended the Government supplement and complete
regulations to encourage collaboration between universities and enterprises
as well as ask enterprises to join vocational training through tax and land
use policies.
According
to statistics from the Ministry of Labour, Invalids and Social Affairs,
graduate and post graduate unemployment jumped from 162,000 to 178,000 people
during the first three months of this year.
The
highest unemployment rate was seen among those with college degrees (7.2
percent), followed by vocational graduates (6.9 percent) and labourers
without certificates (1.97 percent). The country’s average unemployment rate
stood at 2.43 percent.
Euro
Presse Image hails
The
Euro Presse Image on September 26 ran an article on
According
to the article,
The
article underlined
At the
same time, the article analysed weaknesses of the Vietnamese economy in the
short and medium terms, especially administrative reforms and lack of capital
for infrastructure projects.
It
said falling oil prices will affect
The
country also needs to improve the efficiency of social-economic management,
environmental protection and income gap.
The
article highly appreciated
According
to
The
article came to the conclusion that
Thousands
people of all ages flocked to the Thang Long Imperial Citadel in
Themed
“Books and Heritage”, this year’s festival was among the capital’s key events
to celebrate the 61st anniversary of
In his
remarks at the festival’s launching ceremony on the same day, Deputy Minister
of Information and Communications Truong Minh Tuan said the literary event
aimed to contribute to a strategy for the development of a reading culture in
The
Deputy Minister hoped
Different
sections were organised for calligraphy writing, book colouring, and “ca tru”
and “trau van” singing while dozens of panel discussions and talks between
readers, authors and book researchers were also hosted on the sidelines of
the event.
The
organiser is collecting book donations during the week-long festival, which
runs through October 5. The donated books will be presented to schools in
mountainous communes and naval solders on Truong Sa and Ly Son Islands.
Con
Son-Kiep Bac autumn festival begins in Hai Duong
The
Con Son - Kiep Bac Autumn Festival commenced in the
Speaking
at a ceremony to mark the 715 th death anniversary of Tran Hung Dao (or Tran
Quoc Tuan), Chairman of the provincial People’s Committee Nguyen Manh Hien
recalled the General’s life and career.
Under
the Tran Dynasty (1225 – 1400), the Supreme Commander led the Dai Viet (Great
Vietnam) army to victories over three major Mongolian invasions, making him
one of the most accomplished military strategists in world history. He passed
away on August 20 (lunar calendar) in 1300 at the age of 70.
To
commemorate the hero, local residents built Kiep Bac temple, which was
recognised as a national heritage site in 1962 and a special national
heritage site in 2012.
Following
the ceremony, a military parade was held on boats on
The
festival, which will run through October 2, will feature a range of
traditional rituals and cultural activities such as incense-offering
ceremonies, a water puppetry festival and a boat race.
Located
in Chi Linh district, Con Son – Kiep Bac relic was the site of many important
battles between the Tran Dynasty army and the Yuan-Mongolian invaders.
It was
also closely associated with the lives and careers of Tran Quoc Tuan and the
Great Man of Culture of the World Nguyen Trai (1380-1442), one of
The
Ministry of Culture, Sports and Tourism accredited Con Son-Kiep Bac spring
and autumn festivals as national intangible cultural heritages in 2013.
Central
region seeks responsible tourism
Developing
responsible and sustainable tourism in central
The
event was jointly organised by the provincial Department of Culture, Sports
and Tourism; the Labour Newspaper; and the United Nations Educational,
Scientific and Cultural Organisation (UNESCO).
Present
at the workshop were over 120 delegates from international organisations such
as UNESCO, the International Labour Organisation (ILO), the Food and
Agriculture Organisation (FAO) and the Japan International Cooperation Agency
(JICA) along with representatives from the central cities and provinces of
Quang Tri, Thua Thien –
A
number of reports were presented at the function, underlining the pros and
cons of responsible and sustainable tourism development and proposing
measures to develop this form of tourism in the central region and Quang
Director
of the provincial Department of Culture, Sports and Tourism Dinh Hai said the
local tourism industry has grown strongly in recent years thanks to the
support of international organisations and cooperation with other cities and
provinces.
The
number of tourists to Quang
Responsible
tourism, which is common in western countries, is still in its infancy in
Featured
in
Some
travel operators are embracing responsible tourism practices, including
electricity and water savings, waste treatment, sourcing food locally and
providing job opportunities for disadvantaged members of society, including
women and ethnic minorities.
The
central
Hoi
An, recognised by UNESCO as a heritage site in 1999, is an old trading port
that dates back to the 15th century. Its architecture and layout reflect the
indigenous and foreign influences that melted together to produce the unique
character of the town.
My Son
Sanctuary is a cluster of abandoned and partially ruined Cham temples.
Constructed between the 4th and the 13th century AD, it was once the
religious and political capital of the
Meanwhile,
the
Vietnam
needs to focus on training human resources (HR) to meet the requirements of
the sectors the country places priority on development, said Central
Institute for Economic Management (CIEM) Vice Director Nguyen Thi Tue Anh at
a seminar in Hanoi on September 29.
The
seminar is intended to assess the real situation and causes and propose
measures to further cooperation between training units and businesses to
satisfy the the needs of national industrialization process.
Toma
Massaski, Japanese counsellor stressed HR training is a vital issue for
The
government and relevant departments should pay more attention to training
highly skilled workers who can master state-of-the-art technologies, he
noted.
According
to the Ministry of Labour, Invalids and Social Affairs (MoLISA), in the first
quarter of this year, the number of unemployed graduates increased from
162,000 to 178,000 while that of the unemployed who graduated from junior colleges
climbed from 79,000 to 100,000.
In
regard to solutions for HR development in the future, Dr. Nguyen Van Thanh
from Hanoi University of Industry said the State should revamp regulations to
encourage closer HR cooperation between universities and enterprises.
PhD.
Yoichi Sakurada from
Drug
administration withdraws 60 low quality medicines
The
Drug Administration of Vietnam, under the Ministry of Health, said that
responsible agencies have withdrawn its registration permission of
sub-standard medications including foreign–made kinds to ensure drug quality
in the market.
According
to the Vietnam Drug Administration, from beginning of September, around 60
drugs have been withdrawn. Deputy Chief of the administration Do Van Dong
said that not all of them violated the regulation or were confirmed low
quality. 52 of these drugs have been voluntarily withdrawn by its
producers.
Producers
have withdrawn the registration because they do not want to make drugs any
more, said Mr. Dong. As per the present regulation, they can have right to
withdraw the registration.
Additionally,
the administration decided to remove 6 drugs of Sanofi-Aventis, the French
pharmaceutical group including No-spa, Telfast BD, Telfast HD, Amaryl
(Glimepirid 1mg), Amaryl (Glimepirid 2mg), Amaryl (Glimepirid 4mg). All of them
were patented and manufactured in Sanofi-Aventis in
Through
tests, the pharmaceutical administration discovered drugs’ standards made in
the country were not fixed with the same kinds made in other countries and
had lower quality than what had been registered.
Additionally,
the administration removed license of three manufacturers as their product
quality is different from what registered. The pharmaceutical controllers
have made concerted efforts to reduce substandard medication from 3.45 percent
in 2006 to 2.3 percent in 2014. Moreover, the rate of fake drugs has also
been reduced from over 7 percent in 1990 to 0.04 percent in 2014 thanks to
strong measures carried out by related agencies. According to the World
Health Organization,
The
HCMC government will focus on completing 26 major traffic infrastructure
projects next year to ease increasingly severe traffic congestion in the
nation’s southern economic hub.
The
city will set aside funding equivalent to 30% of its gross regional domestic
product (GRDP) for development investment next year as part of its plan to
put into use the projects on schedule. The city is expected to thoroughly
solve traffic jams lasting over 30 minutes in 2016.
The
key projects scheduled for completion next year include four main roads in
Thu Thiem New Urban Area in District 2, the entire
The
city will open to traffic D3 Hiep Phuoc road and a road linking Nguyen Van
Huong Street and Hanoi Highway, Luong Dinh Cua Street, Le Duc Tho and the
Phan Van Tri Street section from Hang bridge to Pham Van Dong Street.
Traffic
jams have become nightmarish for citizens in HCMC, and the frequently
congested sites in rush hour are Nguyen Thai Son-Pham Van Dong Roundabout in
Go Vap District, Hang Xanh Roundabout in Binh Thanh District, and Thu Duc
Intersection. Traffic congestion would worsen if heavy rain and high tides
cause flooding in peak hours from 7 a.m. to 8 a.m. and 5 p.m. to 6 p.m.
The
local government is exerting effort to solve nine out of 17 flooded areas
caused by rain, including those on
In
mid-September, rainfalls of up to 142 mm submerged 77 streets in HCMC.
Severely flooded roads were Nguyen Huu Canh, Kinh Duong Vuong, Go Dua, Do
Xuan Hop, La Xuan Oai, Ho Van Tu, To Ngoc Van and Quoc Huong.
Denmark
to strengthen economic cooperation with Vietnam
New
Danish Ambassador to Vietnam Charlotte Laursen heralded the new chapter in
The
ambassador said
Since
1994,
Two-way
trade between
Laursen
said one of her targets is to foster trade and investment ties between the
two countries. She expected that
Laursen
said the Vietnam-Denmark agreement on comprehensive partnership and the free
trade agreement (FTA) between Vietnam and the European Union will lay the
foundation for the two countries to strengthen cooperation in different
fields including political dialogue, trade, investment, green growth,
education, food and culture.
Laursen
was deputy head of the
VNA/VNS/VOV/SGT/SGGP/TT/TN/Dantri
|
|
BUSINESS IN BRIEF 30/9
Manulife
Vietnam, SCB in long-term bancassurance deal
Manulife
The
distribution agreement with SCB is the first exclusive bancassurance deal of
Manulife
Vo Tan
Hoang Van, board member and CEO of SCB, said in a statement released last
Friday that the partnership aims to develop a range of new products and
benefit both partners.
Headquartered
in HCMC, the insurer has 37 offices across 26 major cities and provinces in
the country. In 2005, Manulife Asset Management (
Forum
in
The
Malaysia-Vietnam Business Forum 2015 took place in
Jointly
organised by the Malaysia External Trade Development Corporation (MATRADE)
and the Vietnam Trade Promotion Agency (VIETRADE), this year’s event
attracted the participation of over 300 Malaysian entrepreneurs, exporters
and investors.
Speaking
at the event, MATRADE Chief Executive Officer Dzulkifli Mahmud said that with
the 90-million population,
Strong
economic and trade ties between
According
to him, two-way trade reached 9.04 billion USD in 2014. In the first seven
months of this year,
He
expressed his hope that through this forum, there are more and more Malaysian
enterprises paying attention to doing business in
Vietnamese
Ambassador Pham Cao Phong said that
He
proposed establishing a Malaysian-Vietnamese Entrepreneurs’ Association in
Meanwhile,
Director of VIETRADE’s Export Development Department Tran Minh Thang briefed
participants on
The
Vietnam-Malaysia Business Forum is scheduled to take place in
Da
Nang, US boost trade, investment relations
Potential
for
The
conference was jointly organised by the municipal Department of Foreign
Affairs, Da Nang Friendship Association and the US Consulate General in
He
added that the deal will also help lift
Solutions
to connect with US suppliers and address intellectual property, cyber
security and
The
In
2014 alone,
Construction
commences on garment-textile factory in Binh Phuoc
Construction
began on a garment-textile factory in the Minh Hung – Korea Industrial Zone
in Chon Thanh district, the southern
The
C&T Vina 2 factory, worth 120 billion VND (5.35 million USD) is built on
6.5 hectares.
The
project, implemented by the C&T Vina Company – a subsidiary of the
The
factory, which is expected to create jobs for 500 labourers working, is
designed to produce 50,000 tonnes of products a day for export.
In the
past nine years of operating in the province, the C&T Vina Company has
created jobs for more than 600 labourers with an average monthly income of
4.4 million VND (196.5 USD).
It has
also actively participated in welfare activities in Chon Thanh district,
contributing to improving the living conditions of local residents.
Bac
Giang province to host industry, trade fair
Some
400 domestic and foreign enterprises have registered to join the industry and
trade fair in the
Visitors
to the fair, which will be held from October 6-14, will have a chance to buy
products manufactured in
Nguyen
Khanh, Director of the provincial Trade Promotion Centre, said that the
event, organised as part of the 2015 National Trade Promotion Programme, aims
to introduce the local economy, culture, society, security and defence as
well as policies to attract foreign investment.
He
added that the fair will create opportunities for enterprises to introduce
their brands and establish relationships with their partners while connecting
businesses with consumers, contributing to increasing and developing product
quality.
Japan
paper material factory inaugurated in Ha Nam
The
Vietnam Nittoku Limited Company of
The
factory covers nearly 40,000 square metres with a total investment of 17
million USD.
The
factory, specialising in producing materials for napkin and toilet paper
production, has a designed capacity of nearly 15,000 tonnes a year. Its products
are mainly for export to Asian markets.
Ha
In
2014, there were 35 FDI projects totalling over 300 million USD in the
province.
Jetstar
Pacific launches new domestic air routes
Low-cost
airline Jetstar Pacific on September 28 announced the operation of three more
domestic air routes using the 180-seat Airbus A320 plane, which is expected
to boost socio-economic and tourism development in southern and central
areas.
According
to Jetstar Pacific Director Le Hong Ha, the airline will conduct one
roundtrip flight every day between
It
will also operate three round flights a week between Chu Lai in central Quang
One-way
fares for the routes between HCM City and Pleiku and Chu Lai and Buon Ma
Thuot are on sale from September 28 from 450,000 VND (20USD) with the
exception of discounted tickets, while one-way fares for the Hue-Da Lat route
are sold from 550,000 VND (24.43 USD) from September 29.
The
same day, the carrier also introduced its promotion programme, with special
discounted fares as low as 30,000 VND (1.34 USD) for the three new air routes
and a number of other domestic routes.
Tickets
are available on www.jetstar.com and agencies from 11 am on October 1, 2015
through October 4, 2015. Online payment is required at the time of purchase
to be eligible for promotional fares.
Phong
Dien industrial park under construction
Construction
on the Phong Dien – Viglacera industrial park commenced in the central
province of Thua Thien – Hue on September 28.
The
project, worth over 680 billion VND (29.92 million USD), covers over 284
hectares in Phong Dien district and was invested by the Viglacera Real Estate
Company.
The
hi-tech industrial park targets less-polluted industries.
Phong
Dien is one of the six industrial parks built under the provincial
socio-economic development master plan in 2015 approved by the Prime
Minister.
Located
37 kilometres from
The
park is expected to be a promising destination for both domestic and foreign
investors, especially those from the
Deputy
General Director of the Viglacera Corporation Tran Ngoc Anh said in addition
to its favourable transport network, the park boasts many surrounding
universities and colleges as well as abundant and low-cost labour.
Businesses
could easily attract high-quality human resources from
Besides
developing the project, Viglacera has increased the number of its industrial
parks to seven across the north and centre of
Effectively
operating industrials parks include Tien Son, Yen Phong and Thuan Thanh in
northern Bac Ninh province; Hai Yen and Dong Mai in northern Quang Ninh
province; and Phu Ha in northern Phu Tho province.
More
Russian firms join business project with Vietnam
Additional
Russian research institutes and technology companies will join the new stage
of the long-term project “Russia-Vietnam: new economies”, as heard at a press
briefing in
Operating
since April 2012 under the auspices of the Russian State Duma, the Russian
Federation Council and the Union of Russian Renovation Area Associations, the
project is designed to help the two countries’ business communities develop
technological partnerships and extend integration and technological innovation.
During
the briefing, Director of the Research Institute for Small and Medium
Enterprises Pham The Hung said during the new stage, the Russian side will
introduce technologies applicable to
Head
of the project Strozhaeva Lubov Victorovna said participating Russian firms
are willing to open joint-venture factories in
From
September 28 to October 2, a Russian business delegation is on a working visit
to Vietnam, during which they will meet representatives from the Vietnamese
National Assembly’s Committee for Science, Technology and Environment; the
Ministry of Planning and Investment; and the Ministry of Health as well as
hold working sessions with companies under the Vietnam Association of Small
and Medium Enterprises and the Vietnam-Russia Joint Venture Bank (VRB).
They
will also attend a round-table conference within the framework of the 2015
International Techmart
Vietnamese
displays have received a warm welcome at the Perth Royal Show in Western
Australia (WA)’s
Covering
600 square metres, the representation features stalls showcasing coffee,
gifts, handicrafts and silk, among others, and an open-air water puppet
theatre.
On
September 26, the opening day,
Vietnamese
Consul General Le Viet Duyen said the show is a great occasion for trade
stimulation between
The
diplomat shared that
WA
Agriculture and Food Minister Ken Baston underscored that
The
century-old Perth Royal Show brought 1,000 enterprises together this year.
Gas
distribution system inaugurated in Thai Binh province
The
Vietnam Oil and Gas Group (PetrolVietnam) held a ceremony to inaugurate the
first stage of a gas distribution and collection system from Ham Rong and
Thai Binh fields in northern Thai Binh province on September 28.
Deputy
Prime Minister Hoang Trung Hai urged the group to continue exploring and
providing gas for the system while building infrastructure for the northern
gas industry and directing contractors to complete the project as soon as
possible.
He
cited gas exploration as one of the group’s significant tasks having been
conducted for a couple of years and will continue to be maintained to shift
Vietnam from an energy-importing to an energy-exporting country.
He
asked PetroVietnam to ensure operational safety for the system by improving
fire and explosion prevention efforts and training courses to proactively
deal with any incidents.
Local
authorities are requested to coordinate with ministries and sectors to
develop sectors using gas energy and support businesses in the field.
The
gas distribution and collection system from Lots 102 and 106 of Ham Rong oil
field and Thai Binh gas field was invested by the PetroVietnam Gas Joint
Stock Corporation (PV Gas) with nearly 92 million USD for the first
phase.
The PV
Gas authorised the Vietnam Petrol Low-Pressure Gas Distribution JSC to invest
over 62 million USD into the Tien Hai – Thai Binh low pressure gas
distribution project.
The
projects, significant realising the national master plan on developing gas
industry in 2015, are expected to make active contributions to northern
economic growth and in Thai Binh province in particular.
State
Bank lowers interest rates on USD deposits
The
State Bank of Vietnam (SBV) has lowered the interest rates for USD deposits
from organisations and individuals (excluding credit institutions and foreign
bank branches).
Accordingly,
the annual interest rate for USD deposits from organisations has been reduced
to zero from the current 0.25 percent while the interest rate for deposits
from individuals dropped to 0.25 percent from the current 0.75 percent.
The
information was stated in Decision 1938/QD-NHNN, which comes into effect on
September 28.
According
to the bank, the decision aims to prevent foreign currency speculation,
helping to effectively implement monetary policies and banking operations for
the rest of the year.
The
new decision replaces the SBV’s Decision 2172/QD-NHNN dated October 28, 2014
on the maximum interest rate applicable to USD deposits from entities and
individuals at credit institutions and foreign branches.
Agro-forestry-fishery
exports down 5 percent in nine months
The
agro-forestry-fisheries export turnover in September was estimated at 2.15
billion USD, bringing the nine-month figure to 21.65 billion USD, down 5
percent against the same period last year.
Export
revenue from key farm produce stood at 10.29 billion USD, down 7.2 percent,
according to the Ministry of Agriculture and Rural Development.
Strong
decreases were seen in coffee (32 percent), rubber (13.7 percent) and rice
(15.7 percent).
Specifically,
The
average export price of rice dropped 5 percent year-on-year to nearly 431 USD
per tonne.
By the
end of the third quarter,
The
average export price of coffee stood at 2,054 USD per tonne, down 0.23
percent yearly.
Meanwhile,
rubber exporters earned 1.06 billion USD from shipping 740,000 tonnes of
products, up 6.6 percent in terms of volume but down 13.7 percent in
value.
Among
farm produce, the pepper market is thriving with increasing export prices and
global appetites. The sector earned 1.04 billion USD from shipping 110,000
tonnes of pepper overseas.
Cashew
nut brought in 1.78 billion USD from the export of 245,000 tonnes.
Prices
of key aquatic products such as ‘tra’ fish and shrimp were not optimistic,
causing seafood export turnover to drop 17.8 percent to 4.69 billion USD. The
most considerable decrease was posted in the
Exports
of key forestry products reached 5.03 billion USD, a yearly rise of 6.6
percent.
Bank
credit floods back into housing market
According
to the State Bank of
It
might well be considered good news indicating the economy is on the mend.
But
there are some worries, especially since a considerable amount of money has
been lent to buy or develop property, one of the four categories of borrowers
with the highest bad debts as of April 30, according to the National
Financial Supervision Committee.
It had
its genesis in the bursting of the property bubble in early 2008. By then a
huge number of individuals and companies had borrowed money from the banks at
interest rates as high as 25-27 percent to speculate in property.
When
the inevitable bust came, no one was able to sell their properties and repay
the banks. It also took down many property developers, who were caught in
exactly the same trap – an irrational demand causing a scramble to build even
if it meant borrowing at ridiculous rates.
As of
April this year they together accounted for bad debts of 11.4 percent of
total loans.
Analysts
attribute the strong credit growth to the sector to its indubitable recovery
and banks' efforts to support housing.
The
Government has also come up with several policies to support the industry,
one of which is to reduce the risk weight assigned to loans to the property
sector from 250 per cent to 150 percent.
The
central bank allows banks to use 60 percent of their short-term funds for
medium- and long-term financing against only 30 percent before.
Enthused,
most banks have been offering preferential credit for property projects and
to home buyers.
There
is also a lot of pent-up demand for buying houses, and with lending rates
falling to around 7 percent, many are availing the opportunity.
But
there are legitimate concerns that if the real estate market develops too
strongly and into the realm of speculation, it could again cause a bubble.
Others
dismiss these concerns saying a reprise of 2008 is not possible in the
current context.
They
point to the 2014 Law on Real Estate Business which requires housing
developments to be guaranteed by banks to protect buyers. This means if a
developer fails to hand over a unit as agreed in the sale or lease contract,
the buyer or lessee could demand a full refund.
Incorporated
in the law for the first time, the provision is intended to ensure that
developers are financially viable and buyers get full security.
This
also means the property market will be healthier and more transparent since
lenders need to carefully scrutinise projects before providing guarantees.
Apartment
retail market booms in Nha Trang
The
apartment retail segment in Nha Trang city in central Khanh Hoa province is
growing in both supply and attention, reported Savills
According
to a recent report by Savills, 60 percent of the city’s stock was developed
as studios or one-bedroom units sized from 32 – 50 square metres while two
bedrooms account for about 36 percent.
Three
new projects are now available for sale, adding more than 1,150 units during
the first half of 2015 and bringing the city’s total apartment supply up to
3,550 units from 11 projects. Six of these projects have sold at least 60
percent of their capacity.
Projects
in Loc Tho ward performed the best with 65 percent sold despite the average
selling price of 48 million VND (2,134 USD) per square metre. Buyers were
mostly foreigners and Vietnamese nationals from
The
property market in Nha Trang has become more attractive to foreigners since
the amended Housing Law permits them to have a 50-year lease tenure for
residential units, Savills explained.
Furthermore,
tourism in the coastal resort city with its year-round sunshine has been
successful over the past five years with annual expenditures growing by 20
percent and an annual arrival growth rate of 18 percent.
Credit
in
According
to the municipal Statistics Office, total outstanding loans of the capital in
the first nine months of the year is estimated to reach 1,195.9 trillion VND
(53.15 billion USD), up 18.3 percent against December last year.
Short-term
loans were estimated to rise 16.8 percent while the increasing rate of
medium- and long-term loans was 20.9 percent.
Total
capital mobilisation in the period rose 11 percent, reaching 1,321.8 trillion
VND (58.74 billion USD).
As the
credit growth rate was much higher than that of capital mobilisation,
commercial banks have to continuously increase deposit interest rates to
attract depositors in a move to balance deposit and credit sources.
Sacombank
continuously inched up its deposit interest rate by 0.1-0.2 percentage points
per year. This was the third interest hike of the bank since August this
year. The bank's highest rate of 7.55 percent is applied for 13-month
deposits.
Eximbank
early this week also released the new interest rate level with a rise of
0.1-0.2 percentage points per year for some terms, effectively from September
21. The bank's highest rate was 7.5 percent, which is applicable for 13-month
deposits.
Previously,
An Binh Bank, VIB and SeaBank also increased the deposit interest rates by
0.2-0.3 percentages points per year for some terms.
Economist
Dinh The Hien suggested that the Government should take more measures to
better control the deposit rate hike. Avoiding it could cause lending
interest rates to rise in the near future.
It was
contrary to the government's guidance in cutting lending interest rates to
support domestic business and production, Hien said.
Rice
exports face difficulties
The
statement was made by Vo Hung Dung, Director of the Vietnam Chamber of
Commerce and Industry – Can Tho branch, at a workshop in the Mekong Delta
city on September 25 to seek solutions for rice producers and
exporters.
Statistics
from the Ministry of Agriculture and Rural Development showed that in the
first eight months of 2015,
Notably,
In
addition,
At the
workshop, Chairman of the Vietnam Food Association Huynh The Nang introduced
several measures to help businesses improve their competitiveness.
According
to Nang, the long-term solution to effectively stabilising production and
exports is to provide loans for export businesses’ rice stockpiles.
He
also suggested reducing risks in harvesting, stocking and distributing rice
while striving to building trademarks for the Vietnamese product.
The Ho
Chi Minh City Development Bank (HDBank) also took the occasion to introduce
its programme to support rice exporters.
Dong
Nai: 9-month industrial production index up 8.39 pct
The
industrial production index of the southern
In
September alone, the index increased 1.97 percent from a month ago and 8.11
percent compared the same period last year.
According
to Director of the Department Nguyen Van Quan, the index for the whole year
is forecast to rise 8.3 percent against those of 2014, with 13 out of 16
sectors will see their indexes increase.
The
largest year-on-year product index rise was recorded in footwear with 15.5
percent, following by washing powder, and PVC plastics with respective rises
of 15 percent and 12.5 percent.
The
local industry and trade sector will focus on fully tapping production
capacity and market demand to promote industrial production.
Trade
promotion will be intensified to support local enterprises in seeking and
expanding domestic and foreign markets.
The
department will also work to assist local businesses in quickening inventory
sale and accessing banking loans, thus stabilising their production and
business.
Dong
Nai is home to around 20,000 enterprises and it has become one of the leading
localities in the country in terms of per capita GDP.
From a
trade-deficit locality, Dong Nai now is among top five cities and provinces
in attracting FDI projects, including many worth over 100 million USD such as
those run by Formosa (Taiwan), Vedan (Singapore and Taiwan), Hualon (Malaysia
and Taiwan) and Fujitsu (Japan).
Institutional
reforms prove key to capital attraction
Bilateral
and multilateral trade agreements have become increasingly imperative to the
local investment arena and the capital inflow to
During
a recent roundtable talk on the implications of bilateral and multilateral
trade agreements on capital inflow to Vietnam, courtesy of StoxPlus, an
associate of Nikkei Inc and QUICK Corp (Japan), Vo Tri Thanh, deputy director
of the Central Institute for Economic Management (CIEM), noted that in
between 2001-2011, Vietnam’s economy suffered from both structural problems,
namely the low quality of growth, and macro-economic instability, as the
entire economy became less resilient to external factors.
“
The
government has also initiated programmes to restructure the economy, aimed at
greater efficiency in the financial, banking, state-owned enterprise (SoE),
and public investment sectors.
In
addition,
“The
key to achieving such targets is to regain confidence in the private sector
and foreign investors”, noted Thanh, adding that success would depend on the
country’s institutional reforms and improvement, with reference to the
amendments to the Investment and Enterprises laws, the new legal framework
for public-private partnership (PPP), macro-economic stabilisation, and
structural reforms in the SOE, financial, and public investment sector.
“More
importantly, it really depends on the effectiveness of the integration
process and the FTAs themselves”, added Thanh.
In
2015 alone,
“These
FTAs, together with the others that the government has signed, will be the
catalyst for export and investment expansion, and further institutional
reforms, in terms of improvement to the local business environment, “ said
Thanh, adding that new investment opportunities would come in many sectors in
Vietnam, including consumption goods, infrastructure development, and
logistics, as well as emerging new sectors such as the “green”, IT, and
creative industries”.
Citing
the Vietnam-RoK FTA as the clearest example revealing observable impacts on
capital flows to Vietnam, StocxPlus CEO Nguyen Quang Thuan said that this FTA
had helped eliminate an additional 771 tariff line between the two countries,
which then benefited Vietnam’s exports, such as garments, textiles, and
agricultural products to RoK, and imports like electronic components, trucks,
and passenger automobile parts from RoK.
Thuan
said the merger and acquisition activities from RoK in the local property and
financial markets in 2015, for instance, had led to essential deals between
Shinhan Investment and local Nam An Securities, or Lotte and Diamond Palza.
“It is
our observation that FTAs have a very significant impact to capital flows,
where tariffs are removed and coupled with the recent ease of the foreign
ownership threshold,” said Thuan.
These
FTAs will have significant impacts on the Vietnamese economy as a whole, and
Buying
reserve oil must be delayed, says minister
Le Van
Thoi, deputy head of the General Department of State Reserves under the
ministry, said at a press conference on Thursday that the country might delay
the purchase of the total volume of crude oil needed by one to two years,
based on budget calculations.
Crude
oil had been one of the goods in the list in the state reserve since 2014
with a volume of 150,000 cubic metres under the prime minister's directives,
he said.
However,
the target was still under consideration to ensure a balance of the State's budget
because the State's total budget still had difficulty in 2014 and 2015.
In
addition, the general department does not have its own warehouses to store
crude oil and still uses those of the Dung Quat Oil Refinery Plant based in
In
other words, there is no place to store 150,000 cubic metres as required.
The
ministry has asked the prime minister to approve purchase of 30,000 cubic
metres of crude initially or delay it by 1 to 2 years.
By
purchasing less crude oil for its reserves, the general department could
drill for more from the Bach Ho oil field and there would be no need to
import it.
Under
the national reserve plan,
KDC
plans to buy back 40m shares
Foodstuff
maker Kido Joint Stock Company (KDC) yesterday announced plans to register
with the State Securities Commission to buy back 40 million shares on the
open market, equivalent to 17.01 per cent of its free float.
It
will be done between October 12 and November 12 at a price not exceeding
VND30,000 (US$1.4), with the purchase funded by its own resources.
The
share closed at VND24,900 in
In the
media release yesterday the corporation said, "The purpose of the
buyback is to have a flexible capital strategy in response to the changes in
business strategy and to increase capital efficiency."
KDC
was formerly known as Kinh Do Corporation and used to be a confectionery
producer. It restructured last year, selling 80 per cent of the snack
business.
It
focuses now on daily consumer food and flavour staples.
In the
second quarter of this year KDC launched a range of products including
instant noodles, cooking oil and seasoning under the "Dai Gia Dinh"
brand name.
Last
year KDC achieved an after-tax profit of VND547 billion ($26 million). The
turnover was VND5 trillion ($238 million).
Sai
Gon Port JSC is preparing the necessary documents to register shares with
securities authorities by end of this year and begin trading soon after.
This
information was announced at the first shareholders' meeting of the company
yesterday in
The
operator of
Vietinbank
and VPBank acquired these shares with each holding 9.07 per cent and 7.44 per
cent, respectively After the IPO, the State-owned Viet Nam National Shipping
Lines, better known as Vinalines, holds a 65.45 per cent stake.
In the
board election yesterday, seven of nine members of the board of directors,
including chairman, are Vinalines personnel. Vietinbank (CTG) and VPBank have
also placed one representative each on the company's board of directors and
supervisory.
A
legal representative of the company yesterday said Vinalines had a plan of
selling more stakes to private investors but declined to disclose the
specific time.
On
September 21, the Prime Minister allowed Vinalines to sell more shares to
slash State holding in Sai Gon Port to as little as 20 per cent in a bid to
restructure the State-owned enterprises sector. The company has a charter
capital of VND2.16 trillion (US$96 million) with a total asset value of
VND3.95 trillion ($176 million).
It is
planning to link with real estate giant VinGroup (VIC) to form a company to
build a commercial centre, passenger terminal and apartments on the side of
Nha Rong Khanh Hoi port after the port will be relocated later next year. The
venture company, of which
Provinces
urged to boost tourism
Better
linkages among local governments and businesses in the Cuu Long (
Speaking
at a meeting held on Sunday in
Cao
Van Trong, chairman of
He
said the region should not only promote its natural landscapes and cultural
value but preserve them at the same time.
Ben
Tre has a dense network of rivers and streams, canals, beaches and islands.
Its folk festivals and historic monuments also attract travellers.
Tran
Duy Phuong, deputy director of Ben Tre's Department of Culture, Sports and
Tourism, said the province should improve its restaurants, hotels and unique
tourism products, as well as services.
Most
Mekong Delta provinces have seen a growth in tourism in recent years,
particularly in Ben Tre.
In the
1995-2015 period, the province saw an average increase of 23.11 per cent of
tourists per year.
The
Mekong Delta region welcomes around 1.5 million tourists per year.
AFD
funds EVN projects
Mr.
Rémi Genevey, Director of the French Agency for Development (AFD) in
The
agreement is expected to optimize investment planning of two major
electricity distribution companies - Hanoi Power Corporation and the Northern
Power Corporation, both subsidiaries of Electricity of Vietnam (EVN). It
falls under the partnership agreement signed in July and provides for the
transfer of experience and expertise in developing distribution networks and
investment optimization methodologies.
EDF IN
will assist the two companies in drawing up a master plan for two pilot areas
jointly identified at a later date.
VinEco
sells first fresh vegetables
Agriculture
products from VinEco will be displayed in a separate area at Vinmart and
Vinmart+ supermarkets to help customers buy the right products.
These
are the first hygienic vegetables to be available six months after Vingroup
announced it would invest in the agricultural sector on a large scale. VinEco
is expected to supply about 30 tons of fresh vegetables each day in 14
different types under GloblaGAP and VietGAP standards. The vegetables were
grown at VinEco farms in Tam Dao in northern Vinh Phuc province, Cu Chi in
At the
end of August VinEco began construction of a 24.5 ha greenhouse in Vinh Phuc
with investment of VND1 trillion ($44.2 million), using Israeli technology
and is the largest in
Established
in March 2015, VinEco aims to provide safe and clean food resources and
export some of
ANZ
expects further monetary moves in 2016
Commenting
on the latest move by the State Bank of Vietnam (SBV) to adjust the USD
deposit rate, ANZ said that while it is important to note the move is a
technically part of an anti-dollarization policy it nonetheless expects
further monetary policy easing in 2016 given the regional slowdown led by
In a
report, ANZ noted the SBV cutting the maximum deposit rate on USD accounts
held by institutions by 0.25 per cent per annum to 0 per cent to annum and
the maximum rate on deposits by individuals being cut to 0.25 per cent per
annum from 0.75 per cent. The last time the central bank adjusted USD deposit
rates was in March 2014. The cap on VND deposits was also maintained at 5.5
per cent. The moves are in clear pursuit of the central bank’s
anti-dollarization policy. The official SBV statement referenced an intention
to prevent the hoarding of foreign currency, which is a de-facto reference to
the dollar.
The
USD/VND rate has remained close to the upper band of the SBV’s trading range
(VND21,233 - VND22,547) since the VND devaluation and band widening in
August. It is now trading around VND22,490 against the greenback. Despite
softening around 5 per cent year-to-date, the VND remains one of the more
resilient currencies in the region supported by sustained export growth amid
contracting exports among
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR
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