|
BUSINESS IN BRIEF
21/11
Luxury cars to be shown at int’l motor expo in HCM City
A number of authorised auto importers and distributors in
Four-wheeled vehicle fans in the city will have a chance to
contemplate a variety of imported models from well-known brands such as Audi,
BMW, Jaguar, Land Rover, Mini, Porsche, Renault, Rolls-Royce, Subaru and
Volkswagen.
The event follows October’s successful VIMS 2015, the first
motor show of its kind in
Laurent Genet, General Director of Audi
The Mekong Delta will house two second-class logistics centres
by 2030, spanning a total area of 100 hectares to serve regional localities
like Can Tho, Hau Giang, Kien Giang and Soc Trang.
They are among 18 logistics centres, including three first-class
and 15 second-class, to be built across the country between now and 2020
under the national logistics centre development plan.
Nguyen Phong Quang, deputy head of the Steering Committee for
the Southwestern Region, said the committee will continue realising regional
programmes and targets, including the acceleration of the establishment of
logistic centres.
He suggested the Government instruct ministries and centrally
run agencies to help the Mekong Delta construct the logistics centres while
offering incentives to domestic and foreign investors in the centres.
Can Tho has been selected for the construction of the centres.
Other satellite logistics centres will be built in other localities to form a
full logistics system that meets regional requirements.
Pham Chi Bac, Deputy Director of the provincial Department of
Industry and Trade, said that because it is located in the centre of the
Mekong Delta, Can Tho has favourable conditions for trade and service
development. It can connect the satellite logistics centres.
Accordingly, a logistics centre will be built in the
The location allows easier access to the Cai Nui International
Seaport, the Can Tho International Airport, projected railways and industrial
parks across the city as well as in other localities in the region.
According to Pham Anh Tuan, Deputy Director of the PortCoast
Consultant Corp, up to 62 million tonnes of cargo is expected to be handled
at regional seaports by 2020. The figure is expected to reach 200 billion
tonnes in 10 years.
The logistic centres will help tighten links between the
Mekong Delta and import-export markets worldwide.
Le Hoang Linh from the Tan Cang Sai Gon Corporation said the
Mekong Delta has a coastline of more than 700 km, and rivers and dykes
stretching over 28,000 km, of which more than 23,000 km are exploitable,
accounting for 70 percent of the country’s total waterways.
Aware of the region’s substantial potential for logistics
development, the Tan Cang Sai Gon Corporation has provided waterway transport
logistics services connecting the corporation’s seaports with ports across
the region.
Presently, four ports are able to receive containers, he said,
adding that more ports will be built in order to provide better logistics
services, thus attracting more investors to the region.
Le Duy Hiep, Vice President of the Vietnam Logistics Business
Association, highlighted goods owners, infrastructure, logistics service
suppliers, legal institutions and personnel training as important factors to
improve the efficiency of logistics services.
He suggested goods owners who are importers and exporters,
plants, entrepreneurs and producers hire logistics companies and utilise
local ports.
The region should outline policies to attract logistics
companies that perform well while training human resources to work for goods
owners, State management agencies, logistics companies, ports and warehouses,
he said.
The region must devise the most comprehensive and suitable
logistics development model through organisations specialising in the field,
he noted.
Asia’s leading Renewable Energy Exhibition set to open in
Hanoi
Thousands of industry professionals have registered to attend
the 1st edition of the Renewable Energy and Energy Efficiency Exhibition,
November 25-27, at the Vietnam Exhibition Fair Centre in
The trade event will showcase a wide range of services,
technologies, supplies and equipment from various segments in the industry
such as wind power, solar power, biomass and biofuel, air-conditioning and
thermal pumps to name only a few.
The organizers say it aims to serve as a forum for
professionals to exchange knowledge and experience in providing solutions to
tackle the emerging challenges faced by
In connection with the event, the EU-Vietnam Business Network
(EVBN) has announced it will organize a European Pavilion to connect European
companies with their Vietnamese counterparts.
Deputy Director Jana Ackerman of EVBN said the company
representatives will have ample opportunities to engage in dialogues on trends
and developments of Green Technologies in
CIEM: Outlook dims as economists see slower growth
The Central Institute for Economic Management (CIEM) has
downgraded its forecast for
Speaking at a recent seminar on the country’s growth prospects
for 2016 held by the CEO Club Ho Chi Minh City, CIEM President PhD Nguyen
Dinh Cung said the nation is looking at growth of 6.5% this year.
“The growth in 2015 as well as the prior two years has largely
been underpinned by expansion of the mining industry— and the current level
of extraction of oil and coal from the ground isn’t sustainable over the long
term,” said Dr Cung.
“In addition, this past September the manufacturing Purchasing
Managers’ Index (PMI) fell below the 50-point threshold, to 49.5, for the
first time in two years, a strong foreshadowing production is slowing down.”
The senior economist stressed that the agriculture industry
along with the nation’s farmers have encountered a myriad of difficulties
this year, most of which stem from the small scale farming methods utilized.
Until the agriculture industry makes the transition to large
scale production methods and modernizes its machinery and equipment as well
as technologies it will continue to drag the overall economic growth of the
nation downwards.
“The garment and textile industries are also getting bogged
down by an overreliance on imported raw materials,” said Cung, which
contributes to an ever widening trade imbalance with the nation’s trading
partners.
He said the overall trade shortfall in the nine months leading
up to October of 2015 was a whopping US$4.03 billion. Most notably
Cung also expressed discontent over fiscal and budgetary
policy.
“The budget deficit has mushroomed and public debt has
expanded exponentially over the past several years, which will wreak havoc on
both economic stability and long-term growth if remedial measures are not
promptly put in place.”
Absent some unforeseeable event or series of events the
economists at CIEM are forecasting the economy in 2016 to look very similar
to that of 2015 said Cung and any hopes for a breakthrough remain bleak.
In other words, don’t hold your breath for faster growth.
Chief Representative Hirotaka Yasuzumi of the Japan External
Trade Organization in Ho Chi Minh City in turn spoke about the state of
health of small businesses throughout the nation saying they are on life
support and in very “serious condition”.
“Liquidity and having sufficient working capital is the number
one problem small businesses face but only 30% of them have ready access to
bank loans to acquire the badly needed funds,” the Chief Representative
accentuated.
He said the government could jump start the economy by
providing government-backed small business loans at low interest rates to the
nation’s small businesses thereby alleviating the risk of non-payment to
banks.
“The government should also devise better programs for
workforce development and adult education programs along with on the job
training programs to support small businesses in their efforts to modernize,”
said Yasuzumi.
Citing statistics of the finance ministry, he said the number
of businesses in the country shrunk by 8.7% year-on-year in the first nine
months of this year.
Nationwide the number of businesses that either went bankrupt
or suspended operations was an estimated 70,000 during the January-September
period, which exceeded new start-ups by roughly 17,000.
Vingroup opens fifth residential and commercial complex in
Hanoi
On November 20, Vingroup ceremoniously inaugurated its fifth
residential and commercial complex in the
According to Vingroup officials, the complex consists of two
towers, one for luxury apartments and the other a 30-story Grade-A office
building, on 13,039 square metres of land.
Connecting the two buildings is a six-story retail and
commercial podium, a supercentre on the basement level B1 and 5 additional
basement levels for parking.
Nearly 380 luxury flats are located between the seventh and
30th floors, with airy, large windows in all bedrooms. The one to
four-bedroom flats range from 54 to 170 square metres, are exquisitely designed,
and inspire a feeling of classical romance.
There are modern business and recreation centres, a
supermarket, Vinmec International Clinic, Vinschool kindergarten, a glass
roof outdoor pool for all four seasons, health & fitness club, a
luxurious lobby lounge, garden, 5-star butler service, and a 24/24
surveillance camera system to ensure absolute security.
Vietnam promotes African, Mekong Francophone countries’
cooperation
Vietnam has played a crucial role in promoting economic,
trade, and investment links, especially the South-South cooperation, between
African countries and the Francophone countries of the Mekong region.
The country’s know-how in the fields of its strength will
contribute to removing bottlenecks in South-South partnership issues such as
legal and commercial disputes and financial payment, said Vice President of
the Vietnam-Africa-Middle East Business Forum Thai Kieu Phuong.
She noted that the country holds vast potential in developing
agriculture and high technology.
Vietnam has gained positive achievements with export turnover
increasing to US$150 billion in 2014 from US$100 billion in 2012. It also
recorded a trade surplus for three consecutive years.
Dong The Quang, an expert from the International Organisation
of La Francophonie (OIF), said the Vietnamese Government and businesses are
expected to actively swing into action to seize investment and trade
opportunities in the Francophone economic space.
The organisation hopes to receive strong support from Vietnam
as it is moving to develop inter-regional economic links in Africa, Asia, and
Europe between 2015 and 2018.
Director of the Vietnam Chamber of Commerce and Industry’s Ho
Chi Minh City Office Vo Tan Thanh said Vietnam wants to share experience in
post-harvest agricultural processing with members of the West African
Economic and Monetary Union (UEMOA) and the Economic and Monetary Community
of Central Africa (CEMAC).
Vietnam has put into operation a number of processing plants
for farm produce such as rice and cashew nut, which serves domestic market
and exports, he noted.
The creation of a production value chain to churn out
high-quality commodities has been defined a major development orientation of
the agriculture sector, he added.
According to the Ministry of Industry and Trade, trade between
Vietnam and UEMOA countries increased fivefold from US$180 million in 2007 to
US$854 million last year.
Meanwhile, bilateral trade between Vietnam and CEMAC nations
increased to US$340.8 million in 2014 from US$72.6 million in 2007.
Deputy head of the ministry’s South-West Asia and Africa
Department Hoang Duc Nhuan said rice is the key export staple to UEMOA and
CEMAC, accounting for 50-70% of the country’s total exports to the markets,
followed by garment-textile and processed industrial products.
In recent years, Vietnam has sought to export new commodities
to the markets such as seafood, steel products, machinery and spare parts.
Potential fields including farm produce, apparel and timber
products are expected to gross US$5 billion worth in export revenue.
Korean firm eyes US$200 mil solar power plant project
Hanwha Group from the Republic of Korea (RoK) is destined to
build a US$200 billion solar power plant with a capacity of 100-200 MW in the
central ThuaThien Hue province.
This was revealed by Lee Ji Hwang- a policy advisor from the
Korean Ministry of Trade, Industry and Energyat a recent meeting with Thua
Thien Hue provincial People’s Committee Chairman Nguyen Van Cao.
Hanwha Group is the RoK’s fifth largest investor operating in
the fields of finance, construction and energy. Hanwha is carrying out solar
energy projects in Vietnam as part of cooperative agreements reached by the
two governments, said Lee Ji Hwang
The provincial leader affirmed his province’s willingness to support
the group’s initiative to build a solar power plant and facilitate Hanwha’s
project survey and research, adding that the group’s investment is in line
with the Vietnam Government’s renewal energy development policy and the
province’s socio-economic development orientations.
Vietnam's fund manager acquires US distributor of Saigon beer
Ho Chi Minh City-based Saigon Asset Management Corporation has
struck a deal to acquire Heritage Beverage, the sole distributor of the
popular Saigon beer in Canada and the US, local media has reported.
The acquisition will allow the privately-owned investment
manager to boost exports of Vietnamese beer products into the countries,
Louis Nguyen, CEO of the company, was quoted as saying in news website
VnExpress.
The deal's value was not revealed.
Founded in 2007, Saigon Asset Management Corporation now
manages two funds -- Vietnam Equity Holding and Vietnam Property Holding, the
website reported.
More Saigon beer products are expected to be shipped to the
US, following the takeover of the US distributor Heritage Beverage. File
photo
The funds have invested more than US$250 million in more than
45 companies and projects across Vietnam, mainly in the sectors of food and
beverage, education, technology and health care.
Their portfolios also include private companies in the US.
Headquartered in California's Beverly Hills, Heritage Beverage
was established in 1994 to import and distribute the products of Sabeco, now
Vietnam's largest brewer, according to VnExpress.
Best sellers of Sabeco include 333, the red Saigon Export and
the green Saigon Special.
Vietnam tire market to reach US$2.7 bln by 2020: report
The Vietnamese tire market will top US$2.7 billion in revenue
by 2020 on account of many favorable conditions, including auto sales and
legislation, a global market research company has said, citing its own
report.
Prominent factors that contribute to the fast growth rate of
the tire industry in Vietnam include growing automobile sales, rising
automobile fleets, favorable government policies and increasing foreign
investment in the country's automotive sector, TechSci Research said in the
“Vietnam Tire Market Forecast & Opportunities, 2020” report.
The Vietnamese rubber industry also plays its part in boosting
the tire market by providing several opportunities for tire producers to
establish more manufacturing factories and increase production capacities,
the report said.
There were 14 tire plants across Vietnam in 2014, yielding a
total output of more than 65 million units per annum, according to TechSci
Research.
The growing demand for vehicles in the Southeast Asian country
is also a major factor in the development of the tire market, as more global
and domestic companies are establishing their manufacturing plants in
Vietnam, according to the report.
The nation’s tire market and economy in general have been
enhanced by growing foreign investments since the Vietnamese government
signed WTO and AFTA agreements, it added.
AFTA, short for the Association of Southeast Asian Nations Free
Trade Area, is a trade bloc pact supporting manufacturing in all regional
countries, which was signed on January 28, 1992 in Singapore.
In the Vietnamese tire market, the two-wheeler tire segment
accounts for the largest portion, followed by passenger car and commercial
vehicle & off-the-road (OTR) tire segments, TechSci Research said.
“However, the passenger car tire segment is expected to
exhibit the fastest growth rate over the next five years, followed by the
commercial vehicle & OTR tire segment,” the company added.
OTR tires include tires for construction vehicles such as
wheel loaders, backhoes, graders, trenchers and large mining trucks.
The report on “Vietnam Tire Market Forecast &
Opportunities, 2020” evaluates the growth potential of the Vietnamese tire
market by providing statistics and information on its structure trends,
TechSci Research said.
It is also intended to provide cutting-edge market
intelligence and help decision-makers take sound investment evaluation, the
company added.
TechSci Research is a global market research and consulting
firm which provides research-based consulting solutions for its customers
worldwide, spanning a range of verticals.
The company has offices in Canada, India and the UK.
French, Vietnamese firms team up to farm maize in Phu Yen
France’s InVivo NSA Group will partner with a company based in
Phu Yen province to cultivate maize on a trial basis in the central locality
of Vietnam.
A cooperation agreement on the project was signed on November
19.
Accordingly, maize will be cultivated on more than 25 hectares
of land in Tay Hoa and Phu Hoa districts from this December to March 2016.
InVivo will provide technical assistance by sending experts to
help local famers with growing techniques.
It will also buy corn at prices that are the same as or 10
percent higher than market prices at the time of purchase.
Meanwhile, its Vietnamese partner – Van Thang Business Export
Import Co. Ltd – will be responsible for the entire cultivation process from
techniques, seedlings, fertilisers to pesticide.
The project is carried out in accordance with the Vietnamese
Government’s policy of switching from rice cultivation to maize farming to
improve agricultural products’ added value and farmers’ income.
Better Rice initiative to help Mekong farmers
About 3,000 farmers from three Mekong Delta provinces will
benefit from a project called Better Rice Initiative Asia that has been
launched in Can Tho city.
Carried out as part of the Integrated Coastal Management
Programme, the project aims to promote private-public partnerships along the
rice value chain through adoption of a sustainable rice cultivation model
harnessing the latest technologies.
In the first phase, it will be carried out in the provinces of
Dong Thap, Hau Giang, and Kien Giang. It will seek to improve farmers'
knowledge of rice cultivation and promote the adoption of modern technologies
in an environment-friendly and sustainable manner.
Its focus is also to improve the rice value chain as a whole,
from input to output, to strengthen the connection between rice production
and market consumption to ensure rice quality and market satisfaction,
enabling farmers to increase their incomes.
The project aims at increasing farmers' incomes by at least 30
percent through increasing yields and/or reducing input costs by adopting
innovative rice cultivation methods. Furthermore, it said, rice harvested
from this project would meet EU quality standards.
"The focus of the project is innovative and synchronised
technology solutions, including the use of good seeds, integrated crop
management, water and nutrient management, integrated pest management … to
utilize effectively rice input, increasing yields and quality, reducing
losses and costs, and at the same time increasing labour productivity and
farmers' incomes," Phan Huy Thong, Director of the Vietnam National
Agricultural Extension Centre, said.
"The project can contribute greatly to the adaptation and
mitigation of climate change for sustainable rice production in Vietnam.
"The project supports the stakeholders in the rice value
chain in applying the large field model. This is a key measure to restructure
Vietnam's agriculture by increasing added value and farmers' incomes and
boosting sustainable rice production."
The other key stakeholders involved in the project are the
Ministry of Agriculture and Rural Development, the Departments of Agriculture
and Rural Development of Dong Thap, Hau Giang and Kien Giang provinces, the
International Rice Research Institute, and the Mekong Delta Rice Research
Institute.
Vietnam, Czech Republic boost trade links
A Vietnam-Czech business forum was held on November 19 in Ho
Chi Minh City as part of President of the Senate of the Czech Republic Milan
Stech’s official visit to Vietnam from November 15-20.
The function, co-hosted by the Vietnam Chamber of Commerce and
Industry (VCCI) and the Czech Chamber of Commerce, aimed at creating
opportunities for Vietnamese and Czech enterprises to further links in trade
and investment.
The forum brought together 50 Vietnamese firms and 15 Czech
enterprises operating in the fields of chemicals, insurance, mechanics,
construction, medical equipment, and automation.
Addressing the event, VCCI Vice Chairman Vo Tan Thanh said the
Czech Republic is one of Vietnam’s strategic export markets and bilateral
trade have enjoyed stable growth in recent years, hitting 294 million USD in
2014, up nearly 24 percent from a year earlier.
The European country is currently ranked 44 th out of 105
overseas countries and territories investing in Vietnam with 37 projects
worth 92 million USD, mainly in energy, transport, machinery, and equipment.
Milan Stech said the Czech Republic considers Vietnam one of
the 12 most potential markets.
The two countries have signed 50 state-level agreements and
Vietnam and the European Union are likely to sign a free trade agreement in
the near future.
He said he hoped the Vietnamese and Czech business communities
will grasp opportunities to boost bilateral trade and investment cooperation.
Largest coconut processing factory inaugurated in Ben Tre
The Ben Tre Import Export Joint Stock Company inaugurated and
put into operation a factory manufacturing canned coconut milk in the Mekong
Delta province of Ben Tre on November 19.
The factory, the largest of its kind in Vietnam, covers a
total area of 7.5 hectares in the Phong Nam small-scale Industrial Complexes
in Giong Trom district. It cost over 20 million USD.
The mill has an annual capacity of 37 million litres,
consuming about 200 million coconuts in the province a year.
Up to 90 percents of its products are expected to be exported
to North America, Europe, and several countries in North Africa and Asia.
Ben Tre is the country’s largest coconut cultivation locality,
having 63,000 hectares generating 500 million coconuts each year.-
Vietjet Air launches new domestic routes
Low-cost carrier Vietjet Air launched three new air routes
between Hanoi and Chu Lai (Quang Nam), Hai Phong and Cam Ranh (Khanh Hoa),
and Vinh (Nghe An) and Buon Ma Thuot (Dak Lak), on November 19.
For the Hanoi – Chu Lai route, the airline conducts four
round-trip flights per week on Monday, Wednesday, Friday and Sunday with
flight duration of one hour and 25 minutes.
The Hai Phong-Cam Ranh route operates five round-trip flights
per week on Tuesday, Thursday, Friday, Saturday and Sunday with flight
duration of one hour and 45 minutes.
The Vinh- Buon Ma Thuot service has three round-trip flights
per week on Monday, Wednesday and Friday with flight duration of one hour and
25 minutes.
VietJet Air has offered 20,000 tickets at price of 199,000 VND
(8 USD) to meet the travel need of residents in the key cities.
The tickets are available at its website www.vietjetair.com,
mobile website http://m.vietjetair.com, its Facebook page
www.facebook.com/vietjetairvietnam .
Payment can be made with Visa, MasterCard, JCB, American
Express, and ATM cards issued by 24 domestic banks that have been registered
with internet banking.
Vietnam promotes African, Mekong Francophone countries’
cooperation
Vietnam has played a crucial role in promoting economic,
trade, and investment links, especially the South-South cooperation, between
African countries and the Francophone countries of the Mekong region.
The country’s know-how in the fields of its strength will
contribute to removing bottlenecks in South-South partnership issues such as
legal and commercial disputes and financial payment, said Vice President of
the Vietnam-Africa-Middle East Business Forum Thai Kieu Phuong.
She noted that the country holds vast potential in developing
agriculture and high technology.
Vietnam has gained positive achievements with export turnover
increasing to 150 billion USD in 2014 from 100 billion USD in 2012. It also
recorded a trade surplus for three consecutive years.
Dong The Quang, an expert from the International Organisation
of La Francophonie (OIF), said the Vietnamese Government and businesses are
expected to actively swing into action to seize investment and trade
opportunities in the Francophone economic space.
The organisation hopes to receive strong support from Vietnam
as it is moving to develop inter-regional economic links in Africa, Asia, and
Europe between 2015 and 2018.
Director of the Vietnam Chamber of Commerce and Industry’s Ho
Chi Minh City Office Vo Tan Thanh said Vietnam wants to share experience in
post-harvest agricultural processing with members of the West African
Economic and Monetary Union (UEMOA) and the Economic and Monetary Community
of Central Africa (CEMAC).
Vietnam has put into operation a number of processing plants
for farm produce such as rice and cashew nut, which serves domestic market
and exports, he noted.
The creation of a production value chain to churn out
high-quality commodities has been defined a major development orientation of
the agriculture sector, he added.
According to the Ministry of Industry and Trade, trade between
Vietnam and UEMOA countries increased fivefold from 180 million USD in 2007
to 854 million USD last year.
Meanwhile, bilateral trade between Vietnam and CEMAC nations
increased to 340.8 million USD in 2014 from 72.6 million USD in 2007.
Deputy head of the ministry’s South-West Asia and Africa
Department Hoang Duc Nhuan said rice is the key export staple to UEMOA and
CEMAC, accounting for 50-70 percent of the country’s total exports to the
markets, followed by garment-textile and processed industrial products.
In recent years, Vietnam has sought to export new commodities
to the markets such as seafood, steel products, machinery and spare parts.
Potential fields including farm produce, apparel and timber
products are expected to gross 5 billion USD worth in export revenue.-
UK-ASEAN Business Council to popularise Da Nang
The UK-ASEAN Business Council (UKABC) will upload images of Da
Nang city and success stories by foreign investors there on its event
websites, Executive Director Ross Hunter assured Vice Secretary of the
municipal Party Committee Vo Cong Tri.
Tri led a Da Nang delegation to promote tourism, trade and
investment in London from November 17-19.
In 2016, the UKABC will hold a series of activities to help UK
businesses, especially small- and medium-sized enterprises (SMEs), seek and
expand operations in ASEAN, towards achieving a 1 trillion GBP worth of exports
to ASEAN by 50,000 SMEs, Hunter said.
He also introduced the UKABC’s plan to hold an international
conference on doing business with the ASEAN member states in London next
April and an international trade exposition in Liverpool next June.
Vice Chairman of the municipal People’s Committee Dang Viet
Dung said the city plans to hold a tourism promotion campaign next June and
asked for the UKABC’s support to introduce the event at the Liverpool trade
exposition.
He also suggested the UKABC invite UK business delegations to
Da Nang to seek opportunities.
The Vietnamese delegation also held a working session with
William Ward, CEO of Clipper Ventures – host of the Clipper Race Around the
World in which Da Nang is a stopover, slated for February 17-27, 2016.
In another working session with Ambassador to the UK Nguyen
Van Thao, the delegation asked for his support to lure UK investment in Da
Nang.
The ambassador suggested Da Nang partner with a UK city and
screen strong businesses in specific fields to match with UK partners.
He also put forward a proposal to launch a Da Nang-London
direct flight to develop tourism, trade and investment in the region and the
city in particular.
Canada doles out 12.9 million USD for Vietnam’s agriculture
The Canadian Government will provide 12.9 million USD for
Vietnam’s agriculture economy development from 2015-1020, announced Canadian
Prime Minister Justin Trudeau on November 19.
The funding will support the implementation of the Vietnam
Cooperative Enterprises Development (VCED) project, which helps reduce
poverty and foster economic growth, according to a press release from the
PM’s Office.
The Canadian Cooperation Society for International Development
(SOCODEVI) – a non-profit development organisation with 13 years of experience
working in Vietnam – will carry out the project that looks to increase
competitiveness and productivity of Vietnamese agricultural cooperatives.
“Canada is a country with a great deal to offer. Our expertise
in agricultural cooperatives will help ensure that Vietnam is able to apply
production techniques - that are environmentally friendly and sustainable.
This will unlock shared prosperity for families and individuals now and into
the future,” Justin Trudeau was quoted in the press release.
The VCED project covers the establishing new market-oriented
agricultural cooperatives, enhancing knowledge, skills and competitiveness of
Vietnamese peasants, fine-tuning cooperative management practices, and
developing policies and a regulatory environment to impulse cooperatives.
Trade with Africa holds much potential
While the global economy is gradually recovering from the
recession, Viet Nam has recovered mush faster, creating opportunities for
local and foreign businesses.
This was the consensus among development experts, policy
specialists, government officials, and business executives from Africa and
Viet Nam who attended a workshop yesterday on enhancing South-South
Co-operation between African countries and the Mekong region.
Their evolving economies and expertise allow for exchange of
advanced knowledge, but a common language to facilitate communication is
first needed, they pointed out.
Thai Kieu Phuong, deputy chairwoman of the Viet
Nam-Africa-Middle East Business Forum, said Viet Nam has huge potential in
agriculture and technology, giving it a potentially important role in
economic and trade co-operation in South-South Co-operation.
Viet Nam sharing its experience in its areas of strength would
help resolve issues like trade disputes between African and Mekong countries,
she said.
Speaking about co-operation between Viet Nam and West African
Economic and Monetary Union (UEMOA) and Economic Community of Central African
States (CEMAC) in agriculture and agricultural exports, Vo Tan Thanh,
director of Viet Nam Chamber of Commerce and Industry's HCM City chapter,
said the two areas have huge demand for rice, cashew, vegetables and technologies
used in their farming.
Viet Nam has factories producing machines for post-harvest
processing, he said.
Fogue Fidele Kouduahou, general director of WAKA Corporation,
said since UEMOA member countries do not have the know-how to develop their
food processing industry, enhancing co-operation with Viet Nam is vital.
According to the Ministry of Industry and Trade, Viet Nam's
trade with UEMOA member countries increased five-fold between 2007 and 2014
to US$854 million.
With CEMAC members it increased 4.6 times to $340.8 million.
Hoang Duc Nhuan of the ministry said rice is Viet Nam's major
item to UEMOA and CEMAC member countries, accounting for 50-70 per cent of
total exports. It is followed by garments and processed foods, he said.
In recent years Viet Nam has looked for opportunities to
export seafood, machinery, and electric cables to these markets.
Executives from around 100 businesses in the Mekong region
primarily engaged in agriculture and construction attended the forum, which
was organised by the Viet Nam Chamber of Commerce and Industry in
collaboration with the International Trade Centre.
Commuters complain of highway toll hike
Increased toll fares on Build-Operation-Transfer (BOT)
national highways are angering commuters, Lao Dong (Labour) reported.
Last week, people in Luong Son Township of Hoa Binh Province
blocked National Highway No 6 to protest the toll rate on that section.
Every day, local people who travel a few hundred metres have
to pay the toll, the paper reported.
At present, the toll at the station is fixed, with the lowest
rate set at VND25,000 (US$1.1) and the highest rate set at VND180,000 ($8.1).
"The local people raised concerns about the toll
collection station in the township," National Assembly Deputy Duong
Trung Quoc was quoted as saying.
"The locals questioned the transparency of the
station," he added. "They said the highway investors intended to
get money from locals as much as possible."
To appease locals, the company charged with collecting tolls
on National Highway No 6 has proposed that the ministries of transport and
finance offer reduced fees to local people.
Starting early next year, several toll stations on BOT
highways will increase the toll rates, the Lao Dong reported.
Even though the toll station on highway No 6 has been in
operation for just two months, the fee will increase by 40 per cent next
January. The toll will range from VND35,000 ($1.6) to VND200,000 ($9).
Drivers said the toll on the Highway No 6 was irrational. When
broken down, the toll costs VND1,150 per km, while tolls on the newly-built
and modern Ha Noi-Lao Cai Expressway are set at VND1,500 per km.
The toll rate on Highway No 5 will be doubled with rates
ranging from VND30,000 to 160,000 ($1.36 to $7.30) beginning next month.
According to Finance Ministry, the toll rates for two stations
on Highway No 5 will be adjusted in two phases.
In the first phase, from December 2015 to March 2016, the toll
will range from VND30,000 to 160,000 ($1.36 to $7.30). In the second phase
beginning April 2016, the toll will be raised to a range between VND45,000
and 200,000 ($2-$9).
In addition, tolls will increase at stations on National
Highway No 1 in the provinces of Ha Tinh, Thua Thien-Hue and Nam Dinh.
Notably, the toll at BOT station will be adjusted and raised
by 18 per cent per year after 2017.
BOT highway investors said this is an allowable increase with
the lowest rate of VND52,000 ($2.36), the paper said.
Drivers and transport companies complained that high toll
taxes and frequent toll stations on highways were a nightmare.
For instance, when travelling from HCM City along the highway,
each vehicle must pass 19 stations and pay VND500,000 ($22.70).
Meanwhile, when travelling from Ha Noi to Thai Binh Province,
drivers must pay VND125,000 ($5.7) for the 120km journey.
A personal car must pay VND20 million ($900) for several kinds
of fees and charges every year.
Tra fish exports to China grow
Viet Nam's tra fish exports to China and Hong Kong (China)
recorded strong growth in the first 10 months of this year, hitting US$122
million, representing a year-on-year increase of nearly 50 per cent.
With this pace, it is forecast that China will become one of
the three largest importers of Vietnamese tra fish apart from the US and
Europe, said Deputy Chairman and General Secretary of the Viet Nam Pangasius
Association Vo Hung Dung.
In the January-October period, Viet Nam's tra fish export
value reached over $1.2 billion, 9.6 per cent lower than that of the same
period last year due to tumble in shipments to the US and Europe.
According to Dung, most tra fish exports to China are through
cross-border trade, which do not require strict quality standards. But when
the exports rise, the country is expected to apply various regulations to the
product, he said, urging domestic exporters to pay due attention to factors
related to quality standards and payment safety when selling to China.
The association will work to promote aquaculture models under
the Vietnamese Good Agricultural Practices (VietGAP) standards and strictly
implement Decree No 36/2014/ND-CP on growing, processing and exporting
catfish, towards ensuring quality and increasing competitiveness of tra fish
products in new markets.
Viet Nam's tra fish products have been sold in 113 countries
and territories worldwide. Tra fish export volume and value in new markets
such as China, Brazil and Mexico have been rising, while those in traditional
markets have been slowing.
Wood processing needs raw material
Viet Nam must improve the local supply of raw materials for
the wood processing industry to ensure sustainable development and meet the
export targets.
Statistics revealed that natural wood currently met only 10 per
cent of raw material demand for processing of wood export products and for
the rest one had to depend on imports and rubber wood.
Nguyen Ba Ngai, deputy general director of the Viet Nam
Administration of Forestry, cited figures that the country had around 13
million hectares of natural forests with an average reserve of 220 million
cubic metres per hectares but most trees were of low quality and could not be
used in processing for exports.
Poor farming techniques and management, high planting density
in addition to small-scale production affected the quality of wood, Vo Dai
Hai, director of the Vietnamese Academy of Forest Sciences said.
The inefficient use of raw materials was also a problem,
Nguyen Ton Quyen, deputy president of the Viet Nam Timber and Forest Products
Association pointed out.
He said that exports of 11 million cubic metres of wood chips
brought only US$900 million in turnover while exports of four million cubic
metres could generate up to $6.3 billion.
Reorganising of production to boost domestic supply of raw
wood was necessary for sustainable forest plantation, he said.
He said that forest land should be handed over to farmers to
encourage their participation while co-ordination between wood processing
firms and farmers should be enhanced.
Modern farming techniques, especially intensive cultivation,
together with high-quality varieties need to be applied in order to enhance
wood quality and output and expand the forest areas certified by the Forest
Stewardship Council (FSC). Viet Nam had 170,000ha of forest got FSC's
certificates.
Vietnamese wood products were exported to 120 countries and
territories.
Statistics of the Ministry of Agriculture and Rural
Development showed that in the first 10 months of this year, exports of wood
and wooden products reached $5.47 billion, up 7.9 per cent against the same
period last year.
The United States, Japan and China were the three largest
importers of Vietnamese wood products, accounting for more than 67 per cent
of the total export value.
Banks switch to online tax payment
The Ministry of Finance has instructed commercial banks to
completely stop over-the-counter tax payments and work with tax agencies to
implement online tax payments by the beginning of December.
Accordingly, it can be made via the general department's
e-portal and other online banking services such as Internet banking, ATM,
HomeBanking and SMS. Over-the-counter payments will only be applicable in
case of internet system failure.
A document sent by the ministry to the banks said that while
90 per cent of businesses nationwide had registered for e-tax payment, the
submission of tax documents and payment was low.
Tran Ngoc Tam, deputy head of HCM City Taxation Department,
said that up to 98 per cent of businesses in the city had registered for
e-tax payment, but only VND14 trillion (US$622.2 million) had been received,
which was relatively smaller than the total of VND100 trillion ($4.45
billion).
The reason was a hesitation on the part of enterprises to use
the system. They had paid only small tax amounts as they were afraid of
internet errors.
He said that several directors were also afraid to part with
their digital signatures as they were worried about chief accountants
misusing the system.
The department recommended that businesses should register two
digital signatures. One would be used for payment and another for money
transfer.
He also suggested that businesses should not worry about
internet issues for e-tax payments as all businesses would be paying e-tax at
the same time. In addition, the data of tax notifications are small which
would not slow down the internet.
Statistics from the department showed that the city has around
170,000 companies. Normally, about 30 per cent of the total would pay
value-added tax while another 30 per cent would pay corporate income tax.
The finance ministry also asked the Viet Nam Chamber of
Commerce and Industry to support businesses in implementing the e-tax payment
system.
Deputy Prime Minister Nguyen Xuan Phuc said the Government has
been active in implementing the law on prices.
It has also accelerated the market price mechanism, price
stabilisation for necessary goods while applying the same mechanism for
electricity, petroleum, coal, and healthcare services, in addition to
education.
The Government has also implemented solutions to ensure State
budget collections, prevent tax arrears, and transfer pricing, while
enhancing investigations and check-ups. Over the past three years, nearly
8,000 businesses which have shown signs of transfer pricing or reported
losses were investigated. The investigations helped reduced losses of more
than VND16 trillion in the companies.
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR
|
Thứ Bảy, 21 tháng 11, 2015
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét