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BUSINESS IN BRIEF 6/12
Gov’t:
Legitimate interests protected
Deputy Prime
Minister Vu Van Ninh said on December 1 the Government is always committed to
helping enterprises solve their problems and protecting their legitimate
interests.
Ninh
underlined this commitment at the Vietnam Business Forum (VBF) in
Ministries
and agencies have been told to implement what is dictated by the amended laws
on enterprise and investment, and step up administrative reforms to make the
business environment more favorable, Ninh said.
Minister
of Planning and Investment Bui Quang Vinh admitted that administrative
reforms and the fight against corruption and wastefulness have not produced
as good results as expected.
“
Vu Tien
Loc, president of the Vietnam Chamber of Commerce and Industry (VCCI), said
institutional reform has yet to meet expectations of enterprises. Recent
surveys conducted by VCCI showed the bigger enterprises are, the higher costs
for administrative procedures they shoulder, the more successful enterprises
are, and the more inspections they face.
Loc said
a lack of legal documents protecting the legitimate rights and interests of
enterprises is cause for concern.
According
to Sherry Boger, chair of the American Chamber of Commerce in
This
year, two-way trade between the
Boger
said
Regarding
healthcare, Tomaso Andreatta, vice chairman of the European Chamber of
Commerce in
EuroCham
members expect to be treated fairly in
EuroCham
recommendations would help improve healthcare services in
At the
forum, representatives of business associations complained about problems
with the laws on enterprise and investment though Minister Vinh said the laws
are more liberal than the previous versions.
According
to VBF’s Investment and Trade Working Group, the two laws set out more
procedures for enterprises. Administrative procedures and regulations remain
complicated and cumbersome.
The
working group said while the laws allow enterprises to operate in fields
which are not banned and enterprises only need to register with the business
registration agency, the decree requires them to catalogue business areas
precisely.
The
investment approval process is still time-consuming as it could take local
authorities much time to consult central agencies when it comes to dealing
with business areas which are not banned or restricted.
NCS
lists 8 million shares
About
eight million shares of Noi Bai Cartering Service JSC (NCS) started trading
on the unlisted public company market (UPCoM) on Wednesday.
This
followed the Ha Noi Stock Exchange's permission that allowed 7,999,975 NCS
shares to be listed on UPCom at a preference price of VND13,000 (US$0.57)
each.
With an
experience of more than 30 years as a subsidiary of the Viet Nam Airlines
Joint Stock Company, NCS has been involved in airline catering, event
catering, farming and food processing and import-export activities linked to
the catering business.
Besides
local airlines, NCS also serves international airlines such as: Asiana
Airlines; Singapore Airlines; All Nippon Airway; Japan Airlines; China
Airlines; Korean Air;
NCS has
total assets worth VND150 billion ($6.65 million) and a charter capital of
VND80 billion ($3.54 million).
By the
end of September this year, NCS fulfilled 92 per cent of its yearly target.
NCS will earn an estimated after-tax profit of VND36.1 billion ($1.601
million).
On
December 3, each NCS share closed at VND18,200 ($0.8) on the UPCoM market.
Falling
prices make export target hard to obtain
The
US$165 billion export target for this year might be unobtainable as prices of
some key export earners have declined, according to the Vietnam News Agency.
Figures
released at a regular web conference of the Ministry of Industry and Trade in
Nguyen
Tien Vy, head of the ministry’s Planning Department, told the conference that
The
period saw phone shipments rising by 29.6% year-on-year; apparel by 9.1%;
electronics, computers and parts by 38.2%; and footwear by 16.3%.
However,
the world oil plunge and lower export prices of aqua-agro-forestry and
minerals are major hindrances to realizing the export target for this year.
Outbound
sales of oil and minerals from January to November were put at US$4.64
billion, tumbling 45.4% against the same period a year earlier. Export
revenue of aqua-agro-forestry products went down by 7.6% year-on-year to US$18.9
billion.
According
to the Vietnam Association of Seafood Exporters and Producers (VASEP),
seafood exports in the year to November had contracted by over US$1 billion
over the same period last year. This year’s seafood revenue is estimated at
over US$7 billion, compared to the target of US$8.7 billion set earlier this
year, and shrimp exports are projected to decline by US$1 billion over last
year to US$3 billion.
VASEP
put the blame on a fall in seafood export prices with shrimp plunging by 30%
against last year.
On the
contrary, imports grew 14.4% in November to US$14.5 billion and 13.7% in
January-November to US$152.5 billion.
Import
of machines and equipment was up by 25.7% versus January-November last year;
electronics, computers and parts by 27.7%; phones by 29.7%, cloth and
accessories for the apparel and footwear industries by more than 8%.
The
Ministry of Industry and Trade said to realize the target of US$165 billion
in 2015,
At the
conference, Deputy Minister of Industry and Trade Nguyen Cam Tu called for
relevant agencies to work out solutions and further simplify administrative
procedures to prop up exports.
Jan-Nov
fertilizer imports up strongly
The
Ministry of Agriculture and Rural Development has put January-November
fertilizer imports at nearly 4.03 million tons worth US$1.28 billion, up 12%
and 9.7% year-on-year respectively.
The
total import volume included 376,000 tons worth US$120 million in November,
according to statistics of the ministry.
The
strong increase in fertilizer imports in the first 11 months was attributable
to falling prices of fertilizer on global markets. For instance, the world
price of urea has slid by US$40-50 per ton (equivalent to a fall of
VND880-1,100 per kilo) compared to the end of last year.
According
to PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC), fertilizer
prices on global markets continued to fall last week.
Urea
prices in Southeast Asian markets were US$255-264 per ton on November 11 but
dropped by US$5-6 to US$250-280 per ton on November 26. Meanwhile, the price
of urea in
The
selling price of urea in
A
fertilizer retailer in the Mekong Delta
Phu My
urea is priced at around VND385,000-395,000 a 50-kg bag, equivalent to
US$350-359 per ton, declining about VND15,000-25,000 a bag over last
mid-June.
With
more than four million tons of fertilizer imported in the year to November,
domestic fertilizer import and trading enterprises posted huge profit while
the benefit for local farmers was meager.
Honda
Vietnam aims for higher sales this year
Honda
Vietnam is looking to sell 2.02 million scooters and motorcycles this year,
up 110,000 units compared to last year.
Minoru
Kato, general director of Honda Vietnam, unveiled the sales target at a function
held in HCMC last week to introduce the company’s new Air Blade 125cc scooter
model.
Kato
estimated scooters would account for 54% of total sales and motorcycles for
the remainder. This is a big change as more motorcycles were sold in previous
years.
The
demand for scooters in urban areas is seen increasing while many people in
rural areas still favor motorcycles. Therefore, Honda Vietnam is focusing on
producing and developing models of both scooters and motorbikes to meet the
needs of local consumers.
Kato
said Honda Vietnam has been picked by the parent company in
The
reason is that Honda Vietnam can turn out international-standard bikes at
competitive prices. The company has cut production costs as it has increased
the localization rate of its products to 95%.
“We are
taking steps to develop
Currently,
Honda Vietnam exports some of Lead, PCX, Vision and SH scooter models to
Europe, the
This
year, Honda Vietnam expects to sell about 130,000 products to overseas
markets, up by 30,000 units versus 2014. In addition, the company also
exports motorcycle parts to other Honda factories.
Honda
Vietnam now has three factories with a total capacity of 2.5 million units
per year and lines producing parts. The company now holds a 70% share of
Honda
Vietnam has sold more than 2.7 million Air Blade scooters since the model was
introduced in April 2007.
The
company will launch the new generation Air Blade on the domestic market on
December 1 with retail prices starting from VND38 million. The warranty of
the new Air Blade will be three years or 30,000 kilometers.
This
year, total scooter and motorcycle sales on the Vietnamese market are
estimated at 2.75 million units, equivalent to last year. Of the total
figure, scooters make up less than 50%.
Honda
told to recall SH scooters with anti-theft system glitch
Vietnam
Register on November 30 requested Honda Vietnam to recall more than 12,000 SH
scooters with an anti-theft system glitch which the firm said it would fix at
no charge.
According
to Vietnam Register, the alarm sound of the SMART Key device installed on the
SH scooter stops after ten minutes if it is stolen, instead of ten days as
designed.
The
malfunction is said to violate Article 11, Chapter III of the Ministry of
Transport’s Circular 45/2012/TT-BGTVT dated October 23, 2012 on inspections
of quality, technical safety and environmental protection in the manufacture
of motorcycles.
Vietnam
Register told Honda Vietnam to recall the scooters and fix the alarm system
in line with the existing regulations.
The
Daily earlier quoted a source from Honda Vietnam as saying that the company
and Vietnam Register interpret the terms of recall and service campaign
differently. Therefore, Honda Vietnam is required to recall the scooters in
question.
At an
event held in HCMC last week to launch a new Air Blade model, Honda Vietnam
general director Minoru Kato said the company would recall the scooters in
line with
Honda
Vietnam announced on its website over a month ago that it would run a service
campaign for SH125 and SH150 scooters equipped with Honda SMART Key.
The
campaign was unveiled after the company discovered the glitch, but Vietnam
Register insisted on a recall.
According
to Honda Vietnam, there are 12,118 new SH scooters affected, 6,721 of them
SH125s and 5,397 SH150s manufactured between August 19 and October 6, 2015.
Lifestyle
project in Dalat off to good start
The
Dalat at 1200 Country Club & Private Estate in
The
uptake at the first private sale was above expectations, Tang Kay Hwa, executive
director at The Dalat at 1200, said in a statement. “We are very pleased with
the market reaction to The Dalat at 1200 lifestyle project,” he said.
With
such a good result on the launch day and sales events planned in Dalat,
Invested
by
The
development’s 18-hole golf course designed by Burmese professional golfer Kyi
Hla Han has been completed. In addition, the country club comprises an
equestrian center, an adventure center, a golf academy, a tennis academy,
biking trails, water sports in its own lake besides a range of other
activities for kids and adults.
The
developer expects phase one of the private estate development would be
completed by the end of next year to supply 49 villas on land plots of 1,100-4,800
square meters, 65 resort residences overlooking the alpine terrain and the
golf course, and 26 club rooms in the club house.
The
developer aims to attract potential customers and investors in both
Singapore-based
real estate developer Centurion Group owns an international portfolio of
properties of residences, office, hotel and mixed developments across
Asia-Pacific countries and territories, including
G-bond
sales near VND847 trillion in 2010-2015
The
Government issued around VND847 trillion (US$37.8 billion) worth of bonds
from 2010 to end-September 2015, with nearly VND343.1 trillion of it already
disbursed, according to a report of the Government.
The
report, signed by Minister of Planning and Investment Bui Quang Vinh and sent
to the National Assembly (NA), showed the Government has mobilized more
capital from bond sales year after year. G-bond sales totaled some VND68.3
trillion in 2010, VND80.7 trillion in 2011, VND141.34 trillion in 2012,
VND181.09 trillion in 2013 and VND248.02 trillion in 2014.
In the
first nine months of 2015, the Government issued over VND127.47 trillion
worth of bonds, equivalent to 51% of the full-year target.
Minster
Vinh said monetary loosening in the period led to higher demand for capital
mobilization via G-bonds but caused an oversupply on the G-bond market.
In
November 2011, the NA adopted Resolution 12/2011/QH13 approving G-bond sales
of VND225 trillion in the 2011-2015 period. In November 2013, the legislature
issued Resolution 65/2013/QH13 allowing an additional G-bond issue of VND170
trillion in 2014-2016.
Total
G-bond sales approved by the NA in 2011-2015 amount to VND335 trillion, with
VND45 trillion in 2011, VND45 trillion in 2012, VND60 trillion in 2013,
VND100 trillion in 2014 and VND85 trillion in 2015. However, these sums are
much lower than real figures in the five-year period.
The
report said disbursements of the proceeds from G-bonds exceeded VND343.08
trillion from 2010 to end-September 2015 with over VND294.4 trillion
disbursed in 2010-2014 and around VND48.6 trillion in the first nine months
of this year.
The
Government said proceeds from G-bond sales have been used to fund nearly
2,000 projects in 2012-2015 as approved by the legislative body and the NA
Standing Committee.
Only 17
big-ticket projects in the transport and irrigation sectors, which have great
impact on socioeconomic development in localities, have not been allocated
funds for implementation.
HIPC to build 2,500 social apartments for workers
Hiep
Phuoc Industrial Park Joint Stock Company (HIPC) will spend VND1 trillion
(over US$45.1 million) building 2,500 social apartments of 36 square meters
each for sale to workers by installment plan.
Vuong
Huu Man, general director of HIPC, told the Daily about the housing project
on the sidelines of a ceremony held over the weekend to introduce investment
opportunities at Hiep Phuoc Industrial Park (IP) in HCMC’s outlying district
of Nha Be.
HIPC
will break ground for the apartment project next year and start selling to
workers in 2017 as one of the IP’s measures to retain workers.
Buyers
will make a down payment of around VND60 million, equivalent to 20% of a
budget apartment's value, and pay VND2-3 million per month over a period of
10 years.
According
to HIPC, 97% of 310 hectares developed in phase one of Hiep Phuoc IP is
occupied by 97 operational projects worth over VND12 trillion (US$534
million). These projects employ nearly 9,000 workers but only 1,000 of them
have accommodation inside the IP.
Man said
HIPC will set aside many land plots of 1,000 to 1,500 square meters each at
Hiep Phuoc IP for small and medium enterprises (SMEs) to lease to make
products for supporting industries.
At the
event, the Vietnam Bank for Industry and Trade (VietinBank) and Bank for
Investment and Development Vietnam (BIDV) clinched agreements with HIPC to
finance 70% of the total investment cost of a project to be implemented in
the IP with a lending term of ten years.
HIPC is
developing the second phase covering 600 hectares at Hiep Phuoc IP with 200
hectares set aside for enterprises in supporting industries. Of the 200
hectares,
The
company plans to hand over ready land for tenants next year to build their
factories.
IPR
violators to face criminal charges
Individuals
and organizations in
The
illegal recording of movies screened at cinemas would be dealt with as a
criminal offense if the interests of copyright holders are impacted under the
TPP. Trade ministers of
Bui
Nguyen Hung, director general of the Copyright Office of Vietnam, told a
seminar on the TPP in HCMC last week that
The
copyright of encrypted satellite signals is also protected by the TPP and
this is new to many countries.
The TPP
also covers registration of scent and sound trademarks instead of image
trademarks only as currently. Commenting on this issue, Luu Duc Thanh,
director of the Geographical Indication Division under the National Office of
Intellectual Property of Vietnam, said
As the
current sanctions against infringements are not stringent, Thanh underlined
the need to impose stricter sanctions on violators of intellectual property
rights including filing criminal charges against them to crack down on IPR
violations.
Regarding
the full text of the TPP, Luong Hoang Thai, head of the Multilateral Trade
Policy Department under the Ministry of Industry and Trade, said the text in
English has been publicized and
The
chapter on intellectual property rights was the last of the TPP to be
concluded since participating nations were split over this issue.
Startups
grow strongly in November
As many as
9,311 enterprises have been established this month with registered capital of
VND52.6 trillion, soaring 19.9% and 35.5% respectively.
Figures
of the GSO indicated there have been 86,853 business startups in the year to
date with combined capital of VND538.7 trillion, up 28.1% and 37.7%
respectively. VND742.2 trillion has been added to operational projects.
In all,
capital registered by new and operational enterprises in January-November has
amounted to US$57 billion.
New
enterprises set up in the January-November period are expected to create
around 1.32 million jobs, a year-on-year rise of almost 32.9%.
In the
same period, 18,646 suspended enterprises have resumed operation, up over
31.2% compared to the same period last year.
The
number of dissolved enterprises in the period has declined 2.2% against last
year’ same period to 8,468 enterprises, and most of them are small with
registered capital of less than VND10 billion each on average.
There
are 62,713 enterprises closed from January to November, increasing 21.4%
year-on-year.
Experts
urge
Experts
have called for
Speaking
at an international conference in HCMC last week on the integration of
Vietnam’s logistics sector into the AEC, Do Xuan Quang, chairman of the
Vietnam Logistics Business Association (VLA), said the 10 ASEAN countries will
become a single market for goods, services, investment and employment when
the AEC is in place in late December.
Quang
warned that
Quang
said Vietnamese enterprises should set a target of reducing logistics cost to
at least 15% by 2020 so that they can better compete in the region.
Deputy
Minister of Transport Nguyen Nhat attributed the high logistics costs to lax
cooperation among logistics and import-export firms. Besides, the
long-established practice of importing under CIF (cost, insurance and freight)
terms and exporting under FOB (free on board) terms have put cargo transport
and logistics services in the hands of foreign shipping lines.
Nhat
underscored the importance of close cooperation among domestic import-export
and logistics enterprises as this helps them take the initiative in
negotiations over cargo transport contracts after the AEC becomes
operational. They should change the import and export practice.
According
to Nhat, the Ministry of Transport will restructure transport modes to reduce
the volume of goods transported by road and increase the volume by sea, rail
and air with an aim to cut logistics costs. The ministry is raising capital
from different sources to develop seaports and highways to cut good transport
times between regions.
Stanley
Lim, chairman of the Singapore Logistics Association (SLA), said as ASEAN
countries are at different levels of development, they should support each
other by removing barriers to cross-border trade and streamlining customs
clearance procedures.
After
the AEC establishment, member states should adopt a one-stop shop mechanism
to speed up customs clearance to reduce logistics costs in ASEAN in order to
compete with other countries outside ASEAN.
NCS
lists on UPCoM
About
eight million shares of Noi Bai Cartering Service JSC (NCS) started trading
on the unlisted public company market (UPCoM) on December 2.
Noi Bai
Cartering Service has served meals for domestic and international flights in
the last thirty years. - Photo cafef.vn
This
followed the Ha Noi Stock Exchange's permission that allowed 7,999,975 NCS
shares to be listed on UPCom at a preference price of VND13,000 (US$0.57)
each.
With an
experience of more than 30 years as a subsidiary of the Vietnam Airlines
Joint Stock Company, NCS has been involved in airline catering, event
catering, farming and food processing and import-export activities linked to
the catering business.
Besides
local airlines, NCS also serves international airlines such as: Asiana
Airlines; Malaysia Airlines; Singapore Airlines; All Nippon Airway; Japan
Airlines; China Airlines; China Southern Airlines; Korean Air;
NCS has
total assets worth VND150 billion ($6.65 million) and a charter capital of
VND80 billion ($3.54 million).
In 2014,
it earned VND403.7 billion ($17.9 million) in revenue and VND36.4 billion
($1.614 million) in after–tax profit.
By the
end of September this year, NCS fulfilled 92 per cent of its yearly target.
NCS will earn an estimated after-tax profit of VND36.1 billion ($1.601
million).
Vietnam
Airlines, Southern Airport Services Company and Vietnam Air Caterers own 60
per cent, 10 per cent and 1.7 per cent of the stake in NCS, respectively.
On
December 3, each NCS share closed at VND18,200 ($0.8) on the UPcOM market.
Vietnamese
cities ready to get smart
Bien
Hoa, Dalat, Halong, Ha Tinh, Hue, Lao Cai, My Tho, Nha Trang, Thanh Hoa and
Vinh have shown remarkable progress in most information and communications
technology (ICT)-related aspects of city governance in the past three years
according to the recent survey on smart city readiness conducted by the Lee
Kuan Yew School of Public Policy, Microsoft and the Vietnam Association for
Information Processing.
The
survey evaluated the ten secondary cities’ smart city development readiness
in five areas namely smart governance, smart economy, smart human capital
development, smart infrastructure and mobility and environment and
sustainable development. 504 respondents, about 50 from each city, consisted
of government officials, businessmen and professionals or retired
professionals who have significant experience with the city and certain
knowledge of smart city development.
The
survey results, released today at the conference titled Leveraging ICT
Potential to Boost Vietnam’s Economic Growth and Development held in Hanoi,
showed that in in all cities, respondents were positive about the impacts of
ICT, government open-up policy and parents’ efforts to invest in their
children but quite negative about unemployment, inequality and crimes/social
ills.
In terms
of priorities, respondents in almost all cities considered enhancing
government competence more urgent than attracting foreign direct investment,
empowering people more urgent than improving environmental quality and greenery
coverage, enhancing government transparency more urgent than providing more
online government services and curbing corruption more urgent than tackling
social problems.
The
conference Leveraging ICT Potential to Boost Vietnam’s Economic Growth and Development,
organised by the Lee Kuan Yew School of Public Policy, Microsoft and the
Vietnam Association for Information Processing, attracted 400 participations
from government agencies, organisations as well as experts, businesses and
colleges all over Vietnam.
According
to experts, in the past few years
Viettel
makes a mark in Timor Leste
It has
been only three years since Viettel first entered the emerging market of
Timor Leste under the name Telemor, but despite the short period of time it
has managed to seize the largest market share in the country’s mobile phone
sector.
With a
population of just 1.2 million it’s a young yet tough market. Telemor was a
latecomer, arriving ten years after Timor Telecom from
Mr.
Nguyen Canh Hoa, General Director of Telemor, said the first thing they
focused on was developing the infrastructure to cover all inhabited areas. By
July 2013 it had succeeded in providing coverage to 95 per cent of Timor
Leste’s population.
Telemor
now has 470,000 subscribers while Timor Telecom has 350,000, falling from a
high of 600,000. The 3G service is improving every day as there is demand for
internet access. Since its first year of operations Telemor has recorded a
profit and this has increased every year.
Telemor
has also been building retail outlets in different districts and rural areas,
with a network of over 3,000 outlets now in place.
Telemor
received the title of “Fastest Growing Company of the Year in Asia,
“At the
moment the growth in mobile subscribers has slowed,” Mr. Hoa said. “We have
new network plans, however, including the development of 4G and improvements
to quality and speed.”
Eighty
per cent of Timor Leste’s population were mobile subscribers last year, with
Telemor making a major contribution to the high ratio.
The
Banker names VIB as "Bank of the Year"
Vietnam
International Bank (VIB) has been named “Bank of the Year 2015” in
The
award is selected annually by The Banker’s judges and presented to the top
bank in each country. It is the world’s longest running and most prestigious
international banking award.
Over
1,000 applications are collected and judges select the winning banks based on
evidence provided to determine the bank in each of the 152 countries
participating globally that saw the most progress overall in the last 12
months. For VIB the recognition as “Bank of the Year” in
In
addition to its efforts in business operations, reflected by Tier 1 capital,
total assets, net profit, ROE, and non-performing loan ratio, The Banker
highly praised VIB for its sustainable growth strategy, advanced banking
technologies, continuous innovation, and efficient and effective marketing
activities during the year.
Vietnam’s
2015 growth fastest in five years: ABD
The ADB
said in its supplement to the September 2015 Asian Development Outlook Update
report that growth was driven by industry and construction, which contributed
nearly half of the total figure.
The
economy also received further boosts from the export-oriented manufacturing
sector and continuing high foreign direct investment.
Data
showed that services expanded by 6.2% while agriculture recorded less
impressive growth at 2.1%.
On the
demand side, domestic demand continued to serve as the main driver of growth.
According
to the ADB, with economic recovery gaining momentum in 2015, rising interest
in
These
forecasts also match those by the World Bank in a summary of
Sugarcane
industry prepares for joining the TPP
Joining
the Trans-Pacific Partnership (TPP) deal as well as other agreements forces
According
to statistics, so far, the sugarcane plantation area around the country has
reached 300,000 hectares, producing around 20 million tonnes of sugar.
Joining
the TPP, the removal of the tariff barriers will help sugar enterprises to
compete more fairly and benefit consumers. In addition, taking advantage of
0% export duties from 11 developed countries will help
Meanwhile,
sugar products from TPP member countries will be sold in
In
addition to pressure from TPP countries, when the ASEAN Trade in Goods
Agreement takes effect, the sugar import quota in South-East Asia will be
removed and the Vietnamese sugarcane industry will have to compete with
According
to the Deputy Director of the Department of Processing and Trade of
Agricultural, Forestry, and Fishery Products and Salt Production, the
domestic sugar industry will be protected at an appropriate extent through
measures to maintain tariff quotas.
First,
the TPP will help the Vietnamese economy to expand its export market,
contributing to diversifying sugar export markets. The elimination of tariffs
on products made of sugar will also increase opportunities for investment on
deep processing as well as manufacturing products with high added value such
as confectioneries and honey.
According
to Chairman of the Board of Directors of Lam Son Sugarcane joint stock
company Le Van Tam, when joining the TPP, enterprises should switch
production methods from small to large scale, promote the mechanisation of
production to increase productivity and quality, as well as reduce the price
of products.
In
addition, the businesses should focus on synchronous investment in modern
equipment and the use of science and technology in production, ensuring
sustainable links with farmers and implementing water-saving irrigation in
order to increase crop yields.
The
localities should encourage farmers to implement the ‘land consolidation’
campaign to form large-scale and concentrated sugarcane production areas,
invest in production linkage models along the value chain to reduce costs,
and improve economic efficiency.
It is
necessary for local authorities to apply intensive farming techniques that
are appropriate with each type of sugarcane seed, research and build
irrigation systems for sugarcane fields depending on different areas.
The
sugar mills need to continue to promote intensive investment projects to
diversify products to meet the increasing demand of the market, and utilise
by-products of sugar production to produce fertiliser, ethanol and
electricity.
On the
other hand, relevant agencies should review, build and supplement essential
policies supporting enterprises links with farmers to implement ‘land
consolidation’, promote mechanism and produce by-products.
In the
2014-2015 crop, the price of white sugar (VAT included) ranged from VND11,000
to VND13,000 per kilogramme, and fell by around VND5,000-VND6,000 compared to
the 2010-2011 crop, announced the Ministry of Agriculture and Rural
Development.
For the
2015-2016 crop, the sugar industry aims to produce 1.56 million tonnes of
sugar, of which refined sugar is expected to reach 750,000 tonnes.
CBRE:
Luxury apartment supply surges
Supply
of high-end apartments in
CBRE
provided figures about apartment supplies in different segments at a seminar
on the domestic property market and opportunities for real estate stocks
organized by the Hochiminh Stock Exchange (HOSE) on Monday.
Le Hoang
Lan Nhu Ngoc, an executive of CBRE Vietnam, said apartment supplies have
shifted noticeably in the past four years with a plunge in new units for
medium-income people and a strong rise in luxury housing.
For
instance, medium-cost apartments accounted 46% of the total supply in HCMC in
2012 but only 26% in the first nine months of this year. In
Meanwhile,
the share of luxury apartments grew from 16% to 36% in HCMC and 4% to 29% in
The
total supply of new apartments in HCMC and
Ngoc
said the apartment segment will keep expanding and attracting more investment
given positive impact of economic recovery and market policies.
Commenting
on the performance of real estate firms in the coming time, chairman of Dat
Xanh Group Luong Tri Thin said a potential real estate firm needs to have a
lot of land available for new projects, strong finances and an effective
business model.
Thin
asked investors to carefully look into the history, development strategy and
vision of real estate businesses before investing in them as well as the
market segment they are focus on.
Domestic
investments soar in HCMC
Total
investment capital registered by domestic enterprises for new and operational
projects in HCMC has increased dramatically this year compared to previous
years, according to the city government.
The city
government said in a report sent to a meeting of the tenth HCMC Party
Committee on Tuesday that fresh and additional investment pledges by domestic
businesses would total VND365 trillion (US$16.2 billion) this year, up 22%
versus last year.
Meanwhile,
the city expects fresh foreign direct investment (FDI) commitments to rise
7.8% year-on-year to US$3.5 billion.
Last
year, domestic firms pledged a combined VND288 trillion for both new and
operational projects, up 15.6% over a year earlier. Meanwhile, the city
attracted US$3.2 billion in FDI, soaring 91.6% against 2013.
The city
government has carried out a number of programs to beef up production and
trading activities. They include the bank-business matching program in which
banks have struck deals to lend VND106.26 trillion to nearly 3,500 firms,
well above the VND60 trillion target set by the city government.
The city
has given a helping hand to enterprises in five priority areas – agriculture,
export goods production, small and medium enterprises, supporting industries,
and high technology.
Next
year, the city has pledged to create more favorable conditions for
enterprises and attract more capital to projects and sectors holding high growth
potential and using high technology. Besides, enterprises will be financially
aided to invest in modern technology to improve production.
The Dong
Nai Department of Planning and Investment said the province had attracted
nearly US$2.4 billion in foreign direct investment (FDI) by November 20, much
higher than the targeted US$1.5 billion for all of this year.
The
total in the 11-month period included US$1.75 billion in 100 new projects and
more than US$618 million in 86 operational projects. The department said most
of the newly pledged investments were from Japanese and South Korean firms.
Dinh
Quoc Thai, chairman of
Dong Nai
has nearly 1,190 valid FDI projects worth around US$24 billion. Most of the
projects are located in industrial parks.
Pepper
acreage surges on price spike
The
nation’s pepper acreage has expanded to nearly 100,000 hectares over the past
five years, double the figure in the master zoning plan for this sector, as
export prices have increased over two-fold.
The
updates were provided by the Ministry of Agriculture and Rural Development at
a conference held in HCMC on Tuesday.
Statistics
of the ministry showed the
The
export price of Vietnamese black pepper rose from US$4,340 per ton in January
2011 to nearly US$9,200 early this year and US$9,400 in October.
Pepper
was quoted at VND170,000-174,000 a kilo, or US$8,000 a ton, in the Central
Highlands provinces on Tuesday.
Besides
acreage expansion, pepper output has soared, from over two tons per hectare
in 2014 to nearly 2.6 tons this year. Especially, one hectare in the Central
Highlands
Do Ha
The
strong increase in pepper price has led to area expansion and supply may
exceed demand in the coming time,
According
to the agriculture ministry, nearly 95% of Vietnamese pepper output is
exported to 100 markets.
The
workforce in HCMC’s service sector has expanded significantly in recent years
in tandem with the city’s economic restructuring.
According
to a report by the HCMC government, workers in the agro-aqua-forestry sector
accounted for 5.4% of the city’s total labor force in 2005 but the proportion
dropped to 2.8% in 2009 and 2.6% last year.
The
ratio in the manufacturing and construction industries also dropped from
45.8% in 2005 to 43.5% in 2009 and 31.7% last year. On the contrary,
the percentage of labor in the service sector rose from 48.8% in 2005 to
53.7% in 2009 and 65.7% in 2014.
The city
government said local enterprises have turned out more added-value products
after five years the city has implemented an economic restructuring program.
The city has seen projects in labor-intensive and polluting sectors
declining, and more agricultural land used for high-yield crops.
Besides,
State-owned enterprises have contributed less to the city’s gross domestic
product (GDP) while domestic private and foreign-invested enterprises have
made higher contributions.
The
contribution of the State economic sector to the city’s GDP has gone down to
16% this year from 26.6% in 2010. Meanwhile, the respective percentages of
the domestic private and foreign-invested sectors have increased from 50.6%
and 22.8% in 2010 to 59.5% and 24.5% in 2015.
Currently,
the city has more than 200,000 operational enterprises, 2,600 representative
offices of foreign firms, 250,000 household businesses and 5,800
foreign-invested projects with total registered capital of US$40 billion.
GAP-certified
orchards in
Only
0.39% of 288,500 hectares of orchards in the Mekong Delta had met Good
Agricultural Practice (GAP) standards by the end of August.
The
proportion inched up slightly from 0.14% in late 2012, heard a recent
conference on building a fruit value chain in the Mekong Delta
Vo Huu
Thoai, deputy head of the Southern Fruit Research Institute (Sofri), said
more farmers have applied GAP standards to their orchards in order to supply
more quality fruits to export markets. But the total area of fruit production
with GAP certification had accounted for only 0.39% of 288,500 hectares under
fruit farming in the Mekong Delta by end-August.
Thoai
said
With an
increase of a mere 0.25 percentage point in the total acreage in the Mekong
Delta in three years, it would take a dozen years for the region to have the
proportion up to 1%.
Fruit
and vegetable exports have posted strong growth in recent years, from over
US$630 million in 2011 to over US$1 billion in 2013 and approximately US$1.5
billion last year. The figure is forecast to reach around US$2 billion this
year.
Jan-Nov
budget collections up 8.3% y-o-y
The
Ministry of Finance said budget collections in January-November totaled
VND860.1 trillion (US$38.2 billion), rising 8.3% year-on-year and meeting
94.4% of the full-year target.
Of the
total, revenue from domestic sources was VND642.7 trillion, 0.6% higher than
the target. Collections from 10 out of 14 tax and fee sources for the State
budget either met or beat the full-year targets.
Environmental
protection fee revenue was 85.9% higher than targeted owing to a sharp
increase in the fee on fuel products on May 1. Tax collections from
agricultural land use surpassed the target by 54.5%, land and house taxes and
fees by 43.1%, and registration fees by 27.8%.
However,
tax revenue from crude oil in the 11-month period was VND60.57 trillion,
34.9% lower than the target, as the world oil price plunged by US$43 per
barrel to an average of US$57 per barrel for the whole year.
Tax and
fee contributions by importers and exporters hit around VND152.3 trillion,
87% of the target.
Budget
spending in the period exceeded VND1,000 trillion, up 7.4% against the same
period last year. Of the total, VND151.9 trillion went to development
investments, VND142.4 trillion to debt payments and aid, and VND712.5
trillion to socio-economic plans, defense, security and administration.
The
country ran a budget deficit of VND155.6 trillion in the period, 68.8% of the
year’s target.
The
ministry projected this year’s total budget revenue may exceed the target of
US$927.5 trillion. The ministry said by November 27, it had raised VND190.93
trillion from bond sales to fund the State budget, meeting 76.4% of the
target.
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR
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Chủ Nhật, 6 tháng 12, 2015
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