|
BUSINESS IN BRIEF 7/10
50
percent of beverage market share taken by foreign producers
According
to the Food and Foodstuff Association of Ho Chi Minh City, foreign
enterprises accounted for 50 percent of total beverage market share in
Chairwoman
of the association Ly Kim Chi explained that most Vietnamese beverage
companies have faced many difficulties as they have to import input materials
from foreign countries with import tariffs of several flavorings and
materials up to 10-15 percent. Therefore, cost prices of domestically-made
products were not able to compete with those made by foreign-invested
companies, right on home ground.
This
situation is not expected to improve in the near future as flavoring and
additive producers in
Currently,
there are around 229 beverage companies across the country.
Shark
catfish sold at high prices in domestic market
Prices
of shark catfish in domestic market soared while the prices of those for
export in the Mekong Delta provinces dropped to VND19,500-20,500 per
kilogram, causing breeders to break even or suffer losses.
At
supermarkets in Can Tho city and An Giang Province, shark catfishes have benn
sold at VND32,000-35,000 per kilogram. Meanwhile, at markets in Dong Thap,
Soc Trang, Vinh Long, and Kien Giang provinces, the price of shark catfish
have swung between VND26,000 and VND30,000 per kilogram.
A
shark catfish breeder said that many breeders who raised shark catfishes for
export suffered huge losses this year so they switched to raising shark
catfishes for domestic market. As local market only demands large size fish
instead of color of flesh, breeders can easily process feed for shark
catfishes, reducing much expenses compared to raising for export.
With
the current shark catfish price in domestic market, breeders earned a profit
of VND4,000-5,000 per kilogram, much higher than that from raising shark
catfish for export.
Industrial
production sees growth trend
The
industrial production index will continue to grow and is expected to rise
around 10 percent this year, as heard at the Ministry of Industry and Trade’s
conference on October 5.
The
industrial value is also expected to increase by 7-7.5 percent, contributing
to realising the GDP growth target of 6.3 percent, said the Ministry.
Deputy
Minister Tran Tuan Anh said growth in a number of sectors such as
garment-textiles, footwear and electronic spare-parts has helped promote
production.
According
to a report of the ministry’s Planning Department, the index rose 9.8 percent
in the first nine months against the same period last year.
Director
of the Planning Department Nguyen Tien Vy attributed the upward trend to a
surge in a number of key sectors, such as the processing and manufacturing
sector rising by 10.2 percent, the mining sector by 8.2 percent and the
electricity production and distribution by 11.4 percent.
Other
industrial products have seen a remarkable surge over the reviewed period,
such as electricity production up 12.3 percent, steel processing by 20.1
percent, television sets by 45.5 percent, mobile phones by 50.4 percent, and
automobiles by 55.3.
The
same trend has also been seen in the consumption of the processing and
manufacturing sector, up 13.2 percent against the same period last year, Vy
said.
The
inventory level increased 9.9 percent annually, lower than the growth rate
from the year prior, according to the report.
According
to the Electricity of Vietnam (EVN), the commercial electricity output hit
106 billion kWh, up 12 percent from the same period last year.
Deputy
Director General of the the Vietnam National Oil and Gas Group (PVN) Nguyen
Hung Dung said the oil and gas exploitation output exceeded 21.6 million
tonnes, including 13.8 million tonnes of crude oil, up 9 percent from the
same period last year.
The
group earned 123 trillion VND (5.5 billion USD), contributing roughly 89
trillion VND (3.97 billion USD) to the State budget.
The
Ministry will boost industrial production restructuring with the enhanced
application of technologies to realise the sector’s targets, Vy said.
Efforts
will be focused on administrative reforms and business climate improvements
to facilitate the production and exports while focusing on market expansion
and the enhancement of human and financial resources, he said.
For
his part, Deputy Minister Anh called for incentives to lure foreign
investment, improving domestic production and encouraging domestic
enterprises to enter the global value chain.
Forum
to bridge Vietnam-German businesses
The
Germany Trade & Invest (GTAI) and the German Chamber of Commerce and
Industry in Vietnam (GIC) will organise a forum to build business connections
between the two countries in
The
forum hopes to draw a dozen of businesses from eastern German states that are
active in various fields such as construction, mechanics, chemicals and
agriculture.
Business
communities will take the opportunity to share experiences in manufacturing
and technology transfer as well as promote their countries.
The
strategic partnership between
Bad
debt ratio slashed to 3.21 percent
From
2012 to August 2015, credit organisations handled 424.14 trillion VND (18.66
billion USD) worth of bad debt, bringing the ratio of bad debt to 3.21
percent this August from 4.93 percent in September 2012.
The
bad debt ratio is expected to reduce to below 3 percent by the year’s end,
said Deputy Governor of the State Bank of Vietnam Nguyen Kim Anh at a
conference in
The
Vietnam Asset Management Company (VAMC) handled 41.3 percent of the total bad
debt with the remaining by credit organisations, she said.
She
added that new standards on classifying bad debts were devised as scheduled
to increase transparency.
Settling
bad debt is crucial in financial restructuring and credit expansion for safe
and stable economic development, she said.
Chairman
of the VAMC Nguyen Quoc Hung said that by September 30, the VAMC had
purchased 82.1 trillion VND (3.61 billion USD) worth of bad debt from credit
organisations, surpassing its yearly target of 80 trillion VND (3.52 billion
USD).
Along
with the economic recovery and the warming real estate market, the VAMC has
reclaimed 14.8 trillion VND (651.2 million USD) in bad debt since 2013.
Price
hike could be seen in vegetables, oil and gas, and water usage during the
month.
To
stabilise market prices, the department has mobilised and effectively used
domestic and foreign financial resources while promoting social engagement to
develop infrastructure networks for markets, trade centres and supermarkets,
especially in rural areas.
The
department has directed relevant units to store goods for aid in flood-prone
areas given the recent abnormal weather patterns.
Besides
implementing stabilisation programmes for basic necessities across the city,
the department is expanding the campaign “Vietnamese people prioritise using
Vietnamese goods” to rural areas and industrial and processing parks.
As
many as 28 market days and over 200 mobile shops have been organised in the
capital’s outskirts and the Vietnamese Goods Week has visited 20 districts
and towns.
The
market management board will coordinate with relevant departments and sectors
to prevent the collection of food for export, which could result in domestic
supply-demand imbalance.
Low
CPI increase energises economic growth: official
The
slower pace of consumer price index (CPI) rises is favourable for stable
business activities and gross domestic product (GDP) growth in 2015, said
General Director of the General Statistics Office (GSO) Nguyen Bich
Lam.
Meanwhile,
the country’s GDP grew by 6.5 percent during the nine-month period through
September, Lam said, noting that other positive economic indexes also imply
that
As a
modest CPI upturn is also conducive to business activities, a CPI
augmentation does not necessarily means GDP growth and vice versa, he
stressed.
Despite
the slow CPI pace, the total retail sales of consumer goods and services
during the first nine months of 2015 leapt over 9 percent compared to the
same period last year when the figure posted at 7.3 percent, proving a rise
in consumer demand.
Lam
continued to say that the GDP expansion was also fuelled by development in
the mining, processing, and electricity and water production and distribution
industries.
The
GSO also studied domestic and global economic developments over the past two
decades and realised that the best inflation rate for the country’s economic
development is between 5 and 8 percent, the General Director said.
He
noted that the office recently asked the Government not to include inflation
in socio-economic development targets submitted for the National Assembly’s approval,
but rather as an objective for the Cabinet to steer the economy.
Quang
Ninh woos
The
northeast
At the
conference, advantages, potential and investment opportunities in Uong Bi
city, Ba Che district and Co To Island district were introduced to investors
in the south.
Among
the projects are a waste water treatment plant in Uong Bi city as well as a
high-class resort, a tourism ship terminal and a hi-tech seafood processing
line on Co To Island.
Truong
Manh Hung, Deputy Head of Quang Ninh’s Investment Promotion Agency, affirmed
enterprises would be eligible for incentives when investing in
infrastructure, health, education, manufacturing and services with a
substantial workforce.
Le
Huong Giang, Deputy Director of the Ministry of Planning and Investment
(MPI)’s South Centre for Investment Promotion, said Quang Ninh is one of the
provinces with bold, creative and breakthrough changes in administrative
reforms, reorganising growth models, improving business investment
environments and enhancing tourism and transport infrastructure
investments.
Quang
Ninh’s Provincial Competitiveness Index (PCI) was in the top five in 2013 and
2014, meaning that more and more companies consider Quang Ninh an attractive
investment destination, said Giang.
As of
September 2015, the province had attracted foreign investors from 17
countries and territories with a combined registered capital of 5.1 billion
USD.
Domestic
investment capital from 2012 to 2014 reached 68 trillion VND (3.3 billion
USD).
In the
first nine months of 2015, domestic private investment capital worth nearly
30 trillion VND (1.4 billion USD) flowed into Quang Ninh with projects from
big companies such as Vingroup, Sungroup and BIM.
This
is the first time Quang Ninh has coordinated with the MPI’s South Centre for
Investment Promotion and the Association of HCM City Enterprises to organise
a such conference.
Quang
Ninh offers attractive support to IP, EZ investors
Investors
will be eligible for attractive preferential policies when investing in
industrial parks (IP) and economic zones (EZ) in the northern coastal
The
policies are part of the locality’s efforts to attract more investments in
constructing infrastructure systems as well as secondary projects in local
IPs and EZs.
Accordingly,
investors building IPs and EZs will enjoy preferential land rent and be
allocated additional land to construct resettlement areas, houses for workers
and residential areas.
They
will also be supported through an advance from the State budget equivalent to
30 percent of expenditures for compensation and ground clearance and
financial aid worth 30 percent of construction costs for wastewater treatment
systems at the maximum of 30 billion VND (1.33 million USD).
Secondary
investors in IPs and EZs will receive assistance in vocational training costs
and 50 percent of space rent or travel fees when joining national and
international trade fairs and conferences.
In
addition, the province will help those investors in technological transfer
and advertisement costs on local websites.
Specifically,
the province will prioritise projects in constructing roads in the IPs and
EZs, power and water supplies, drainage systems, solid waste and wastewater
treatment areas, vocational training and healthcare facilities, schools as
well as other public works serving IP and EZ development.
With a
total area of over 12,200 square kilometres, including an 11.8-kilometre
shared border with
Tilapia
fish exports seen rising by 2020
Tilapia
exports are expected to reach US$130-150 million by 2020, according to the
Vietnam Directorate of Fisheries.
Export
of the fish has seen strong growth in the past decade, rising to more than
US$32 million last year from US$1.95 million in 2004, it said.
It has
been exported in the form of frozen whole fish, skin-on fillet and skinless
fillets to more than 60 countries, with the US, Spain, Colombia, the
Netherlands, Belgium, Germany, Mexico, the UK, the Czech Republic, and Italy
being the top importers.
The
country had 16,000 hectares of tilapia farms last year, which produced
125,000 tonnes. They are expected to grow to 21,000 hectares and 150,000
tonnes this year.
Pham
Anh Tuan, deputy director of the directorate, said 70% of tilapia is bred in
the Cuu Long (
Under
the tilapia breeding master plan for the period until 2020, the Ministry of
Agriculture and Rural Development encourages institutes, universities and
enterprises to import fry for research and breeding more fry.
It
also wants localities to establish links between tilapia farmers, processors
and exporters.
In
addition, provincial agriculture departments are required to strengthen
quality management and regularly check breeding activities to ensure farming
follows zoning plans and does not cause pollution or obstruct waterway
transport.
Ngo
The Anh, an expert at the directorate's Department of Aquaculture, said there
is high demand for tilapia in the global market.
Entering
the global market after
There
are also problems related to fry quality, high production costs and low
disease resistance, he said.
The
directorate has suggested that companies, apart from investing to develop
high-grade fries, should also focus on building brands for Vietnamese tilapia
and developing unique products to compete with experienced global
rivals.
Experts,
however, said the objective would only be achievable with a major overhaul of
the country's Code of Civil Procedures at conference held last week to
discuss improvements and simplifications of judicial procedures in
Legal
and economic experts recommended solutions to shorten processing time for
commercial disputes including online submission of cases and the
establishment of a one-stop administrative body to accept and process cases.
Former
Supreme People's Court judge Tuong Van Luong said online-based solutions
would not only reduce processing time and cost but also improve transparency
and neutrality.
"It's
crucial that courts be provided with sufficient funding and manpower to carry
out the task," Luong said.
Another
objective set by the resolution was to reduce processing time for bankruptcy
procedures from 60 months to no more than 30 months.
Luong
said there is a need for Procuracy offices to play less of a role in civil
cases. He said civil and commercial disputes should require the minimum
amount of State intervention. The State should only be involved in
tax-related or public properties cases.
Deputy
head of the National Assembly's Judicial Affair Committee Nguyen Van Luat
noted that the revised code must be carefully reviewed to eliminate
procedures that were no longer appropriate.
"The
process must be opened to the public so people and businesses can contribute
their ideas on important matters which will directly affect them," Luat
said.
Deputy
office director of USAID Vietnam Economic Growth and Governance Office Laura
McKechnie said the objective to cut processing time for commercial disputes
in half would be challenging. She stressed the importance for all Government
agencies to work together, starting with the automated handling of
cases.
Rice
outlook takes positive turn
At an
online briefing on October 5, Vice President Huynh Minh Hue of the Vietnam
Food Association (VFA) said there are some bright spots on the horizon for
rice exports.
However,
the rising demand for exports will pose problems for domestic exporters as
they attempt to balance it against the domestic demand due to the lower than
anticipated winter-autumn crop harvest of 1.5 million metric tons.
Deputy
Minister of Industry and Trade Tran Tuan Anh in turn said the ministry will
coordinate with pertinent agencies to fulfil the rice export target and ensure
farmers’ income and businesses’ profits.
According
to the VFA,
Vietnamese
Goods Identity Week ends in Hanoi
Vietnam
Fatherland Front (VFF) President Nguyen Thien Nhan lauded the effectiveness
of the Vietnamese Goods Identity Week that closed in
He
said the week helped promote goods produced by Vietnamese businesses.
"I
hope the Ministry of Industry and Trade will work together with businesses
and business associations to promote high-quality made-in-Vietnam products
and services. Vietnamese businesses need to improve product quality, reduce
production costs, and upgrade distribution systems and marketing activities
to make made-in
The
event attracted 20,000 visitors to 500 booths in
Cashew
exports drop on costlier raw nuts
The
majority of small cashew processors in
“Small
plants in Binh Phuoc, the largest cashew processing province in
Currently
according to figures from the Ministry of Agriculture and Rural Development
(MARD), processors in Binh Phuoc and other provinces import over half of
their raw cashew needs from the African continent.
Thanh
said exports for September plummeted to just 30,000 metric tons with revenues
tallying in at US$218 million and they are forecast to remain low throughout
the balance of the year.
Year-to-date
for the nine months January-September overall exports still looked good on
paper with the industry having experienced a 20.6% hike in volume to 245,000
metric tons and a 7.8% jump in value to US$1.78 billion.
“Dong
Nai, a second leading cashew processing province is facing a similar
situation with material shortages and high costs causing small business
closings,” Thanh underscored.
Small
processors have not been able to pass the higher costs on to their customers
and they just don’t have the financial strength to weather the storm and keep
their doors open, he said.
The
prices of raw cashew imported from
Thanh
said the raw cashew prices from Africa have increased 25% compared to a year
ago while the sales prices of exported cashew kernels have gone up only by
about 10%, which has pinched profits.
In
addition, over the past 18 months the US dollar has increased in value by 30%
against the Vietnamese dong, digging in to profits by increasing costs and
putting downward pressure on sales, he said.
Leading
export markets for the period included the
The
target for the year of 320,000 metric tons with revenue of US$2.5 billion is
still within reach but the outlook through the rest of the year remains
bleak, Thanh concluded.
High
hope in fourth quarter
The
majority of processing and manufacturing companies in
According
to the General Statistics Office (GSO)’s recent survey conducted on 4,028
domestic and foreign companies in the industry, up 87.9% of foreign invested
firms perceived their business outlook as “positive” in the last quarter of
2015. In particular, those in medicine, pharmacognosis, tobacco, electronics,
computer, furniture, and paper industries are forecast to have the most
positive business prospects.
The
optimism for future business stems from better business performance in the
third quarter among 80.1% of the surveyed companies.
The
decisive factors that have helped increase business confidence include a
stable monetary policy, a 6.5% on-year growth of the gross domestic product
(GDP) between January and September, economic expansion forecasts of 6.5% for
2015 and 6.6% for 2016, the lowest on-month level over the past 10 years in
the consumer price index in September, and a 9.8% on-year increase in total
retail sales and service revenue in the first three quarters.
With
stable macro-economic prospects, 53.5% of foreign-invested businesses
projected that their production would increase further in the last quarter,
which would result in a stable and rising trend in labour recruitment among
92.6% of the surveyed businesses in the foreign-invested sector.
Regarding
orders, 47.8% of the foreign investors are optimistic to see a rapid rise in
new orders. Among the sectors, medicine and pharmaceuticals, and electronics
and computers have the highest number of positive firms, with respective
rates of 58.3% and 56.1%.
In
terms of inventories, 50.3% of domestic and foreign firms forecast that
product inventory would remain stable between October and December, while
just 16.2% stated that the volume of products in stock would increase.
Meanwhile, compared to the third quarter, the volume of material inventories
would remain stable or decrease, according to 85.1% of companies.
According
to the GSO,
Currently,
the processing and manufacturing industry contributes 18% to
Cadivi
to open more overseas distribution networks
Vietnam
Electric Wire and Cable Limited Company (Cadivi) is to set up three more
distribution networks in
At a
ceremony marking the company’s 40th anniversary and receiving the first
class Labour Order on October 4, Cadivi Director General Nguyen Loc revealed
that next year, his firm plans to build a factory in the north at a total
cost of around VND200 billion in the first phase.
As
many as 2,200 Cadivi agents are currently operating in the home market. Last
year’s revenue hit more than VND5 trillion and its dividend has always stood
at 30% for years.
Vietnamese
longan reaches
The
fruit has also underwent irradiation before being exported to the
Normally,
it takes approximately 19 days to ship longan to the
Despite
high prices of Vietnamese ripe longan in the
Lending
picks up, HSBC says
Lending
by banks has been accelerating, growing at 18.2 per cent in the year-to-date
compared to the same period last year, according to HSBC's monthly report
The
pick-up in lending is partly reflective of the central bank's efforts to free
up liquidity – in July it lifted the 2015 credit growth ceiling for several
major banks. The State Bank of
Growth
had been 14.2 per cent last year.
The
stronger than expected GDP growth in the third quarter, coupled with the
nascent pick-up in bank lending and domestic demand, has prompted HSBC to
raise its 2015 GDP forecast to 6.6 per cent from the earlier 6.3 per cent.
It
also raised its 2016 GDP forecast to 6.7 from 6.5 per cent.
The
report said price pressures remain subdued for now despite the acceleration
in growth. In fact, headline inflation slowed to zero percent in September
from 0.6 per cent in August.
A 13.1
per cent year-on-year fall in the transportation component shaved 1.1
percentage point off headline CPI growth. But core inflation too remains
subdued, slowing to 1.6 per cent y-o-y in September from 2.4 per cent
previously. Food inflation has also continued to drift lower, falling 0.3
ppts to 0.7 per cent y-o-y.
With
oil prices expected to stay subdued and the dong unlikely to be devalued
further, near-term price pressures remain weak, allowing the SBV to keep the
OMO (open market operations) rate steady at 5 per cent.
However,
the central bank will want to remain vigilant: with strong growth likely to
continue in the quarters ahead, the report sees inflation bottoming out in
the fourth quarter and then rebounding to 3.3 per cent y-o-y by the end of
2016's first half. The figure may rise to 5.2 per cent y-o-y by next year
end.
Another
reason that the next move from the central bank will likely be a hike, and
not a cut, is the trade deficit. The combination of slowing exports and
recovering domestic demand has meant that
Though
not yet alarming, what is worrying is that the deterioration has been driven
by a widening deficit in the domestic sector. As opposed to foreign-invested
firms, whose imports are used as inputs for Vietnamese shipments abroad,
domestic firms primarily import to serve domestic consumption.
In the
past the trade deficit of domestic firms, especially the State-owned enterprises,
has widened on the back of credit-fuelled consumption and investment, putting
pressure on the currency and posing challenges to the economy.
But
for now
Govt
urges firms to boost quality
The
Ministry of Industry and Trade urged businesses to concentrate on free trade
agreements' norms in quality and food hygiene amid slump in exports of
agriculture, forestry and fisheries products.
Deputy
Minister Tran Tuan Anh said at the ministry's monthly meeting yesterday that
it would provide support for businesses to seek new export markets while
enhancing competitiveness and expanding exports.
Yesterday's
meeting heard that the country's trade deficit rose to US$3.9 billion in the
first nine months of this year, in which the domestic firms ran up a deficit
of $15.8 billion while the foreign-direct-investment sector posted a surplus
of $11.9 billion.
Notably,
exports of agriculture, forestry and fishery products declined 9.9 per cent
over the same period last year to $15.14 billion. Products with huge drops
included coffee and rice.
At the
meeting, the Viet Nam Food Association said that rice exports were expected
to recover from this quarter thanks to the rising demand of traditional
markets.
Anh
said the agriculture, forestry and fishery sectors must enhance quality and
build brands.
According
to Nguyen Tien Vy, head of the Ministry of Industry and Trade's Planning
Department, domestic firms remained dependent on imported raw materials.
The
ministry said that businesses should enhance the technology content and
improve the local procurement rates.
At
yesterday's meeting, the ministry also asked the Electricity of Viet Nam to
raise measures to lower the energy elasticity to gross domestic products
(GDP).
Energy
elasticity was the percentage change in energy consumption to achieve one per
cent change in national GDP.
The
energy elasticity of
The
government asked the index of energy elasticity to be cut to 1.5 by the end
of this year and to 1 by 2020.
Statistics
showed that during the past five years, the energy elasticity of
Steelmakers
seek rules enforcement
The
Viet Nam Steel Association (VSA) recently asked relevant ministries and
sectors to revoke the licences of nearly 30 steel projects that have not
implemented production technology standards.
VSA
Deputy Chairman Do Duy Thai said the country's capacity to produce
construction steel had reached 11 million tonnes per year, of which more than
five million tonnes were sold. Therefore, it's necessary to immediately
consider terminating steel projects that are not conforming to the industry's
planning or still use backward technologies.
"Normally,
the supply is allowed to be a maximum 30 per cent higher than the demand. In
Other
countries have controlled the gap between supply and demand at about 20 to 30
per cent, a level which enabled the steel industry to maintain development,
Thai said.
According
to the VSA, 42 projects have registered for operations in the 2013-25 period,
of which 28 projects may not be feasible because they have failed to follow
the regulations set by the steel industry.
Shorter
settlement time benefits investors
The
State Securities Commission's plan to shorten settlement time for
transactions from the current three days to two, may not boost liquidity in
the market but benefits investors, experts said.
The
SSC has directed the Viet Nam Securities Depository Central to build a
project which allows reducing the settlement date from 9am on three days
(T+3) to 4.30pm on two days (T+2), effective from January 1, 2016.
The
watchdog said this was part of the general development plan for
Both
analysts and investors said that this change would not help boost overall
liquidity on the market since by the time the money and securities arrive at
investors' accounts the two markets are already closed.
Trading
hours on the two national stock exchanges start at 9am and close at 3pm with
a break from 11.30am to 1pm every Monday to Friday.
"I
do not see any difference in the newly proposed plan," Le Duc Hiep, a Ha
Noi-based investor told Viet Nam News.
"The
most important thing to investors is that money and securities will arrive in
their accounts within the trading hours to make transactions. Under the new
regulation, we still must wait until tomorrow to buy or sell shares,"
Hiep said.
However,
if seen from another perspective, analysts say this regulation will help
investors reduce interest expenses, particularly who borrow money to buy
securities (margin) or use service of cash advancement provided by brokerage
companies.
"Money
arriving in investors' accounts a day earlier will help them save a day of
interest expense," Duong Hoang Linh, an analyst at Sacombank Securities
Co, said and added that it was a big cut in investment cost for traders who
make frequent trade.
Margin
interests at most securities companies are popularly between 13 per cent and
15 per cent per year, equivalent to 0.03 per cent and 0.04 per cent per day.
If an investor borrows VND10 billion (US$444,400) to buy shares, he can save
from VND3 million to VND4 million ($133-$178) in interest expense.
This
rule also benefits traders who use cash advancement service at securities
firms. Interest rates on such a loan are also 0.03 per cent to 0.04 per cent
per day and the receiving money one day earlier will also help these
investors save interest cost.
According
to Nguyen Son, SSC's head of Market Development Division, although traders
cannot make transactions on the stock exchanges under this new regulation,
they still have choices to use these shares as mortgage to borrow money or
make other deals.
Son
also said this was only the first phase of the plan and the securities
watchdog has prepared a roadmap to lift the settlement date to 2pm on T+2 in
the future.
VN
receives 97 new foreign investors for stock market in September
The
Viet Nam Securities Depository (VSD) reported yesterday that 97 foreign
investors were granted with trading codes last month.
Among
the foreign investors, there were 35 organisations and 62 individuals. This
is also the third highest number of foreign investors coming in the local
market after the Ministry of Finance issued Degree 60 in late June that
allows local companies to raise their foreign ownership.
The
highest number is 136 in August and the second is 112 in July. As of
September 30, VSD has issued trading codes for more than 18,000 foreign
investors, including nearly 2,800 organisations and more than 15,500
individuals.
PSW to
pay first dividend of this year
The
South–West PetroVietnam Fertilizer and Chemicals JSC (PSW) yesterday
announced it will pay its first dividend of this year on October 20 in cash
with a rate of eight per cent.
In the
first six months of this year, PSW earned VND1.36 trillion (US$60.6 million)
in revenue, an increase of 15 per cent over a year.
The
company's net profit in the first half of this year was VND14 billion
($622,222), a decrease of 22 per cent from last year's first half.
This
year, PSW plans to earn VND2.47 trillion ($110 billion) in revenue and VND28
billion ($1.24 million) in pre-tax profit.
PSW is
a member of the Petroleum Fertiliser and Chemicals Corporation. PSW was
listed on the Ha Noi Stock Exchange in July.
Japanese
brewer Sapporo Viet
The
company's general director, Mikio Masawaki, at a media briefing late last
week, said however the company has yet to break even three years after coming
to
He
ascribed it to the fact that
But he
expected that in the next 10 years Sapporo Viet
Concerns
persist despite soaring fibre export
The
fibre industry’s capacity has soared in recent years, thanks to the
deployment of a string of major projects from both domestic and foreign
investors.
However,
most locally-made fibre has been exported, due to the textile dyeing sector’s
downturn.
According
to Dang Trieu Hoa, general director of Ho Chi Minh City-based Century
Synthetic Fibre Corporation, more than 70 per cent of the company’s
production output was dedicated for export to Europe and Asia to high-grade
fabric producers who act as material suppliers for global brands like Nike,
Adidas, Uniqlo, Decathlon, Puma,
In
mid-September, the company inaugurated Trang Bang 3 fibre plant in the
southern province of Tay Ninh, with a total investment capital of VND735
billion ($33.7 million) and annual production capacity of 30,000
tonnes.
Trang
Bang 3 plant helped boost the company’s capacity from 37,000 tonnes to 52,000
tonnes of fibre annually.
Deputy
chairwoman of Vietnam Textile Apparel Association (Vitas) Dang Phuong Dung
was quoted as saying that soaring investment and expansive production versus
the textile dyeing sector’s slow improvement has currently lodged the textile
clothing industry into a bottleneck.
As
Dung
also said that textile and clothing is one of the industries supposedly set
to benefit the most from export market expansion once the Trans-Pacific
Partnership Agreement (TPP) is ratified and comes into effect. However,
the TPP’s stringent yarn-forward principle regarding product origin could
place local textile garment firms at a disadvantage, with fewer opportunities
for tax breaks.
That
is because
Vitas
figures show that
Construction
starts on $2.9m sika deer antler velvet processing plant
Works
on a US$2.9 million sika deer antler velvet processing plant in Thach Ha
district, central Ha Tinh province began October 4.
Mitraco
kicks of the construction of a sika deer velvet processing plant in Ha Tinh
province on October 4.-Photo baomoi.com
The Ha
Tinh sika deer antler velvet processing plant, invested by the Ha Tinh
Minerals and Trading Joint Stock Cooperation (Mitraco), consists of two
stages in an area of 15,485sq.m.
The
project uses a closed modern technical chain which meets the Good
Manufacturing Practice (GMP) standard and is guaranteed by tight testing
procedures.
The
first stage of the project is expected to produce many products, including
Cuhamine energy pills, velvet ginseng alcohol and deer antler velvet patch.
Speaking
at the groundbreaking ceremony, General Director of Mitraco, Duong Tat Thang
said that the project aims to produce high end products, diversify products,
as well as improve medical value and economic efficiency from sika deer
antler velvet.
Chairman
of the Ha Tinh People's Committee Le Dinh Son asked Mitraco to follow strict
regulations on investment management and construction.
The
Mitraco has capital of VND1.3 trillion ($59 million). The company's main
activities include mining, producing, trading construction materials and
producing functional foods from deer antler velvet.
Ha
Tinh is the leading province of the deer breed sector, with deer products
accounting for 70 per cent of output.
The
velvet of sika deer antler has many benefits, including reducing stress along
with anti aging and cartilage regeneration.
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR
|
Thứ Tư, 7 tháng 10, 2015
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét