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BUSINESS IN
BRIEF 19/1
VIB posts strong profit growth in 2017
The
Vietnam International Bank (VIB) has reported pre-tax profit of over VNĐ1.4
trillion (US$62 million) in 2017, surging 100 per cent year-on-year or far
surpassing the yearly target.
VIB’s
total assets also saw a positive yearly increase of 18 per cent to VNĐ123
trillion ($5.4 billion), while the bank’s total credit balance amounted to
approximately VNĐ90 trillion ($3.95 billion), up 26 per cent year-on-year,
according to its business results, which were released on Tuesday.
As
per the results, the bank’s capital adequacy ratio (CAR) was 13.1 per cent,
its ratios of non-performance loan (NPL) and return on equity (ROE) stood at
2.49 per cent and 12.7 per cent, respectively. Earnings per share were
VNĐ2,000, which was considered a high rate among domestic banks.
On
January 17, 2017, VIB debuted more than 564.4 million shares on the Unlisted
Public Company Market (UPCoM), a move that the bank hoped would create
transparency in its activities, share price, market capitalisation and share
liquidity, to make it easier for investors to make decisions.
After
12 months, the bank’s share price has increased by 71 per cent to VNĐ29,200
per share from VNĐ17,000 on the first trading day.
Meanwhile,
VIB has also been in the top ranking of Moody’s for many consecutive years.
As one of 10 banks selected by the State Bank of Việt
“We
are making greater efforts in ensuring the bank’s operation with the best and
most transparent standards," VIB general director Hàn Ngọc Vũ said.
In
the years to come, VIB will focus on expanding its scale and continue
perfecting the quality of products and services, the bank said.
Top
priority will be given to expanding its retail operations, consolidating its
leading position in a number of products catering to individuals, small and
medium-sized enterprises, bettering customer service, improving labour
productivity and bettering risk control in line with international standards.
The
bank’s 2018 shareholders meeting will be held in late March.
Billionaire Thao's company replaces Posco E&C in Splendora
The
whole share volume owned by Poso E&C Co. (
Phu
Long, which is under Sovico Holdings Company, is a big real estate company in
Before
acquiring 50 per cent of Splendora’s shares from Posco E&C, at the end of
2017, Phu Long raised its charter capital from VND700 billion ($30.85
million) to VND3 trillion ($132.2 million).
The
deal marks the appearance of Phu Long on the
Besides
Splendora, Vinaconex has invested into various projects, such as a building
complex at 97 in
At
a recent roadshow, director general of Vinaconex said that Splendora could
earn a total revenue of around VND1.2 trillion ($53 million) in 2018 with a
profit of VND430 billion ($19 million). According to the plan, Splendora
could gain VND2 trillion ($88.1 million) of revenue and VND500 billion ($22
million) of profit by 2020.
Splendora
is one of the largest-scale real estate projects in the west of
Jollibee celebrates 100th store in Vietnam
The
third largest restaurant chain in the country marks a new milestone in Can
Tho and solidifies commitment of spreading boundless joy in
Jollibee,
home of the world-famous Chickenjoy and the largest Asian food service
company, celebrated today the grand opening of its 100th store in
“
To
celebrate this milestone, Jollibee is giving away 100 buckets of its famous
Chickenjoy along with other freebies at its stores across the country to
bring even more joy to Vietnamese families. Various special treats and
surprises also welcomed customers at the 100th store grand opening in the Can
Tho store.
“Since
opening the doors of our first store in
Jollibee
opened its first branch in Co.op Mart Xa Lo Hanoi in 2005 and has been
expanding steadily since then. Now it is one of the top three largest
restaurant chains in the country as it stays true to its commitment of
bringing joy to customers.
“At
Jollibee, we are dedicated to spreading the joy of eating to everyone. Now
with 100 stores nationwide, we are even more ecstatic in bringing our unique
brand of joy to families everywhere in the country—from the very south to the
very north of Vietnam,” said Lam Hong Nguyen, general manager of Jollibee
Vietnam.
The
value of trade between Vietnam and the Southeast Asia region increased 18.8% to
US$49.4 billion last year, of which exports accounted for US$21.7 billion (up
10.4%) and imports US$27.7 billion, up 14.9% on the previous year.
According
to the Asia-Africa Market Department under the Ministry of Industry and
Meanwhile,
imports from Malaysia surged by 10% to US$5.7 billion with key products being
petroleum (US$1.18 billion), computers and electronic products (US$1.10
billion), machines, and tools and equipment (US$643 million).
Imports
from
Aquatic export expected to hit 9 billion USD in 2018
The
Directorate of Fisheries has set a seafood export value of 9 billion USD for
2018, as heard at a conference held on January 16 by the sector to set out
its 2018 tasks.
The
sector also targets a total yield of 7 – 7.5 million tonnes, of which 4
million tonnes come from aquatic farms.
At
the function, Acting Director General of the Directorate of Fisheries Nguyen
Ngoc Oai put forth a number of measures for the sector, including carrying
out random inspections of input materials, building sets of standards for
different areas, reforming administrative procedures, and fighting illegal,
unreported and unregulated (IUU) fishing in
Vice
Minister of Agriculture and Rural Development Vu Van Tam said the
9-billion-USD goal is achievable, suggesting the sector focus on value-added
increase and quantity reduction in aquatic exploitation.
He
said there is a need to develop the shrimp industry and seeks markets for Tra
fish.
He
stressed between now and June 30, the sector ought to implement anti-IUU
measures recommended by the EU in order to remove the warning under the
European Commission’s “yellow card”.
Nguyen
Thi Phuong Dung, head of the Directorate’s Department for Science, Technology
and International Cooperation, pointed to amendments of legal frameworks
relating to fishing ports, inspections of fishing vessels, and international
cooperation as potential solutions to the “yellow card”.
Binh Duong province aims to attract 1.4 billion USD in FDI
The
southern
Liem
said that the province will prioritise partners with strong economic capacity
and large economic groups, as well as projects using high technology friendly
to the environment, and investment in industrial parks and clusters.
He
said that in order to continue attracting FDI, in the coming time, the
province will focus on improving the investment environment, enhancing
competitiveness and strengthening support for businesses.
Binh
Duong will also complete its infrastructure system such as transport, water
supply, electricity and waste treatment system, while creating land for
projects, developing human resources, added Liem.
Currently,
Binh Duong has 29 industrial parks with a total area of 12,790 hectares, of
which, 26 have been operating. Under its master plan, by 2020, the province
will have 34 industrial parks with a combined area of over 15,000 hectares.
In
2017, the province lured over 2.5 billion USD of FDI, exceeding the yearly
target by 79 percent, up 125 percent over 2016. Of which, 80 percent were
disbursed, higher than the average figure of the previous years at 78
percent.
Committee for state capital management to be founded in Q1
The
committee for state capital management at enterprises must be set up in the
first quarter of 2018 so as to affirm its legal status, Deputy Prime Minister
Vuong Dinh Hue has said.
Standing
deputy head of the group Nguyen Hoang Anh is also Chairman of the committee
for state capital management at enterprises. Other deputies are
Minister-Chairman of the Government Office Mai Tien Dung, Minister of
Planning and Investment Nguyen Chi Dung, and Minister of Finance Dinh Tien
Dung.
The
working group also comprises five other members.
At
the meeting, participants looked into draft regulations on the working
group’s operations, the issuance of a Government resolution on the committee
establishment, and a Government decree on the committee’s structure,
functions, and tasks.
Deputy
PM Hue asked the Ministry of Home Affairs to coordinate with other ministries
to submit a draft Government resolution on the committee establishment for
discussion at the Cabinet’s February meeting. Meanwhile, the Ministry of
Planning and Investment needs to promptly build a draft Government decree on
the committee’s structure, functions, and tasks.
He
noted while efforts must be made to set up the committee in the first
quarter, ministries and sectors must continue speeding up the equitisation of
and divestment from State-owned firms in 2018 as scheduled.
Ministries
must not abandon businesses immediately after the new committee takes over
the firms, or the equitisation and divestment will slow down. Their
responsibility for ailing projects remains intact, he added.
Binh Duong province aims to attract 1.4 billion USD in FDI
The
southern
Liem
said that the province will prioritise partners with strong economic capacity
and large economic groups, as well as projects using high technology friendly
to the environment, and investment in industrial parks and clusters.
He
said that in order to continue attracting FDI, in the coming time, the
province will focus on improving the investment environment, enhancing
competitiveness and strengthening support for businesses.
Binh
Duong will also complete its infrastructure system such as transport, water
supply, electricity and waste treatment system, while creating land for
projects, developing human resources, added Liem.
Currently,
Binh Duong has 29 industrial parks with a total area of 12,790 hectares, of
which, 26 have been operating. Under its master plan, by 2020, the province
will have 34 industrial parks with a combined area of over 15,000 hectares.
In
2017, the province lured over 2.5 billion USD of FDI, exceeding the yearly
target by 79 percent, up 125 percent over 2016. Of which, 80 percent were
disbursed, higher than the average figure of the previous years at 78
percent.
Organic
cosmetic products which are environmentally friendly will be introduced to
consumers in sub-Mekong region at the Mekong Beauty Show scheduled to open at
the Sai Gon Exhibition and Convention Centre in
The
three-day event is expected to lure more than 200 international and local
cosmetics exhibitors, including those from the EU, the Republic of Korea,
Thailand, Malaysia, Singapore, Indonesia, Malaysia and Japan.
According
to IMF Forecast, as an emerging market for cosmetic products, the sub-Mekong
region with four countries of
The
show will serve as a venue to link businesses in the sub-Mekong region.
At
a press conference held on January 16 to introduce the show, Claudia
Bonfiglioli, General Manager of Informa Beauty, said that
However,
the country still lacks programmes to connect enterprises in the sector, she
noticed, adding that Informa Beauty has set up clubs for Vietnamese
distributors and retailers and build connection with the Vietnam Essential
Oil Association.
Meanwhile,
Bui Ngoc Quynh Giao, Brand Manager of Illahui
Many
local firms have paid due attention to branching out natural cosmetic
products as they believe that the products will help the Vietnamese cosmetic
sector to create breakthrough in the future.
Vinacomin eyes payroll cut, revenue rise in 2018
Deputy
Prime Minister Trinh Dinh Dung asked the Viet Nam National Coal and Minerals
Group (Vinacomin) to focus on labour and environmental safety as it develops
a specialised management model. He spoke at the conference held in Ha Noi on
Tuesday to sum up Vinacomin’s operations in 2017 and launch tasks for 2018.
“The
group should continue to develop drastic solutions to ensure labour safety.
It is also required to ensure environmental protection and consider it as a
top requirement in production,” he said.
Dung
hailed Vinacomin’s contributions to the country’s development in 2017.
He
asked the group to strengthen discipline in exploitation and preventing trade
fraud.
He
also highlighted the group’s shortcomings in exploiting unsuitable coals,
which resulted in large inventory without meeting customers’ requirements.
The
application of science and technology in the exploitation and processing of
the group’s main products has been undertaken slowly. Some investment
projects have been delayed or ineffective, causing losses in State capital.
The
deputy PM said this year would determine the country’s success in completing
the five-year socio-economic development plan in the 2016-20 period, creating
heavy pressure for the coal and minerals sector.
Vinacomin
was also asked to enhance the mobilisation of social resources to attract
investment into projects to upgrade current mines to increase coal output for
the economy.
Vinacomin
should focus on restructuring its investments to create highly competitive
products. This would help the group improve productivity, quality and
effectiveness. It should also enhance its relationship with localities and
partners both inside and outside the country.
Vinacomin’s
total revenue in 2017 reached VND109.2 trillion (US$4.8 billion), posting a
7.3 per cent year-on-year increase. Its profit was estimated at VND2.5
trillion, up VND1.5 trillion from 2016. It contributed VND13.4 trillion to
the State budget.
Dang
Thanh Hai, Vinacomin’s general director, said the profit was partly
contributed by its two aluminum plants producing 1.14 million tonnes. Revenue
from the two plants was VND8.6 trillion. Nhan Co Aluminum Plant alone posted
an output of 501,000 tonnes or 80 per cent of its designed capital.
In
2017, Vinacomin’s coal consumption was estimated at 35.5 million tonnes. Of
this, the local coal consumption was 34 million tonnes and the remaining was
exported.
Hai
said by the end of last year, the group had 104,500 labourers, 6,000 people
fewer than the previous year.
Its
labour productivity rose by 8.6 per cent from 2016 with the average salary of
VND9.4 million per month.
The
group’s electricity output last year reached 9.38 billion kWh, increasing 10
per cent from the previous year.
“Vinacomin
will invest VND12.8 trillion in parent companies and its subsidiaries in
2018,” he said.
He
added that the group also aimed to produce and consume 36 million tonnes of
coal this year including 34.1 million tonnes for local consumption and 1.9
million tonnes of exports.
It
targeted total revenue of VND113.8 trillion, profit of VND2 trillion and
contributions of VND13.6 trillion to the State budget in 2018.
The
aluminum output was scheduled at 1.23 million tonnes.
The
group planned to reduce its payroll by some 4,500 people to bring its total
staff to 100,000.
Construction achieves 8.7% growth rate in 2017: ministry
Deputy
Minister of Construction Lê Quang Hùng said 2017 has been a breakthrough year
for the construction industry as it has met or surpassed almost all
development targets.
He
was addressing a conference to review 2017 and set out new goals for 2018,
with the attendance of Prime Minister Nguyễn Xuân Phúc.
Hùng
said in 2017 the industry witnessed a relatively high growth rate of 8.7 per
cent.
It
contributed 0.54 per cent to the nation’s overall GDP growth rate of 6.81 per
cent, ranking third among all industries in terms of contributions to GDP.
The
country’s urbanisation rate reached 37.5 per cent last year, increasing by
0.9 per cent year on year. The country currently has 813 urban areas, 11 more
than in 2016.
A
report by the ministry said that last year, the average floor area per person
increased by 0.6 sq.m compared to 2016, to reach 23.4 sq.m per person.
A
further 190,000 sq.m of social housing was added in urban areas, lifting the
total area of social housing in urban areas to 3.49 million sq.m. About
220,000 accommodations for students were put into use.
A
total of 3,077 real estate projects are being implemented with investment
capital of VNĐ3.3 quadrillion (US$144.9 billion), covering nearly 78,000 ha.
Of
these, about 300 projects are big projects, each of which has total
investment of over VNĐ3 trillion and provide over 1,500 apartments.
On
tourism property, as of July 2017, there were 77 projects providing 16,437
hotel rooms, 11,174 villas and 12,056 condotels developed or being developed.
Without
revealing the number of condotels which had been sold to secondary investors,
the deputy minister warned about the “hot” development of this type of
property.
"The
supply of condotels has been abundant and more measures are needed to control
it in the future," Hùng said.
Hùng
said some shortcomings had still not been solved during the past year,
including rampant construction violations, which in some cases kept occurring
even after punishments were handed out.
The
structure of products in the real estate market was still a problem, with an
abundance of high-end apartments and deficiency of low-cost housing.
He
also admitted the slow pace of renewing old apartment buildings.
Currently
there are about 2,500 old apartment buildings nationwide, most of which were
built before 1994. Of these, 600 buildings have seriously deteriorated and
pose dangers to residents.
The
implementation of some social housing programmes shared the same fate due to
the ending of the VNĐ30 trillion housing stimulus package, while the capital
allocated to support social housing projects in the 2016-2020 mid-term public
investment plan was not much.
In
2018, the ministry will implement a project to conduct assessment and
forecasting work, based on which it would propose solutions and policies to
ensure the healthy and stable development of the real estate market.
The
ministry will also work to devise a project on economic security in the
housing and real estate market to ensure social welfare and complete a
database on the housing and real estate market.
Another
major goal will be cooperating with related ministries and agencies to solve
difficulties in State budget allocation to effectively implement major
housing projects.
Looking
to the coming year, Prime Minister Phúc demanded the construction authorities
decisively carry out solutions, aiming to achieve an annual growth rate of
9.2 per cent.
“The
ministry should increase the proportion of private investment, especially to
encourage the public private partnership (PPP) model in order to utilise
sufficient resources as well as improve the constructions’ quality,” Phúc
said.
More steps needed to develop low-cost housing: PM
The
Ministry of Construction should take more effective steps to support the
development of low-cost housing and build an information system about housing
and property market to improve transparency, management and planning, said
Prime Minister Nguyen Xuan Phuc.
PM
Phuc made the remarks during a conference held by the Ministry of
Construction in
The
PM spoke highly of the sector’s development and the ministry’s management of
the local property market in 2017.
He
also pointed out shortcomings of the sector last year, notably the poor
quality of several construction planning schemes that had short-term vision
and were not suitable to real-life situations; lack of inspections of at-risk
and old buildings in urban areas; and an over-supply of luxury apartments and
a shortage of low-end and mid-end housing projects.
The
PM urged the ministry to make more efforts this year to achieve a 9.2-percent
growth and to complete all basic infrastructure projects by 2020.
The
sector must attract more private investments, particularly under the
Public-Private Partner form, to improve the projects’ quality and efficiency;
and at the same time, foster the use of advanced technologies to increase
productivity in the context of the fourth industrial revolution.
According
to reports by the Ministry of Construction, the construction sector ranks
third among the largest contributors to
The
construction industry had a successful year in 2017 with most figures
exceeding development targets, Deputy Minister of Construction Le Quang Hung
said, noting that the industry expanded by 8.7 percent in 2017.
The
rate of urbanization was estimated at 37.5 percent, 0.9 percent higher than
2016 and now the country has 813 cities, up 11 cities year on year, he noted.
The
floor area per person averaged 23.4 sq.m last year, up 0.6 sq.m year on year,
the Ministry of Construction reported. The country constructed a further 0.19
million sq.m of low-cost housing in urban areas, bringing the total area of
urban low-cost housing to 3.49 million sq.m.
In
2017, five more housing projects for low-income earners and workers at
industrial parks were put into use, providing 1,225 apartments. Sixteen other
projects are underway, expected to supply 5,200 apartments.
At
the event, Prime Minister Nguyen Xuan Phuc awarded the Ministry of
Construction and its subordinate units Labour Orders in recognition for their
great performances.
Direct flight launched between
China-based
Chongqing Airlines on January 16 launched a direct service connecting
The
flight departs from
Chongqing
Airlines uses Airbus 320 aircraft for the direct route, expecting to welcome
on board an average of 150 passengers each flight.
Founded
in 2007, Chongqing Airlines operates domestic passenger services in mainland
In
recent years, the airline has expanded its services overseas with flights
connecting
Japanese Mitsui encouraged to invest in
Deputy
Prime Minister Trinh Dinh Dung has suggested the Mitsui Company invest in
infrastructure construction in
During
his visit to
The
Deputy PM highlighted the growing extensive strategic partnership between
Over
the past time, Japanese investment in
He
hailed the cooperation between the Japanese firm and its partners in
developing the Block B gas projects, affirming that the projects play an
important part in ensuring national energy security.
For
his part, the Mitsui executive reiterated that the Block B gas projects are
among the company’s key cooperation agenda, pledging that the firm will work
closely with PetroVietnam to accelerate the projects.
He
also highlighted the huge support the Government, ministries and sectors of
Mitsui
has great interest in transport infrastructure development, energy and health
care in
Positive signs for
Some
764,000 tonnes of rice remains in the inventory. 209,000 tonnes of which
belong to Vietnam Southern Food Corporation, Vietnam Northern Food
Corporation has 107,000 tonnes and the rest belong to other companies in the
Vietnam Food Association.
The
Indonesian Bureau of Logistics announced on January 15 that it will start a
bidding to import 500,000 tonnes of rice to
According
to the Jakarta Post, Minister of Trade Enggartiasto Lukita said
According
to experts, rice supplies in many countries such as
Nguyen
Thanh Long, director of Gao Viet Company, also think that rice exports will
get better in the first quarter of 2018 if they have enough supply. The
harvest time in several countries like
However,
local firms still need to improve to meet food hygiene and safety
requirements and better strategies to compete with
TPBank receives PCI DSS 3.2 certification
Tien
Phong Commercial Joint Stock Bank (TPBank) in Ha Noi received the Payment
Card Industry Data Security Standard (PCI DSS) certification on Tuesday.
PCI
DSS, the latest version 3.2 from the US ControlCase, is a comprehensive set
of requirements for enhancing cardholder data security around the storage and
handling of a customer’s credit card information.
TPBank
met with 12 strict requirements relating to information safety policies, IT
infrastructure and data processing to ensure safety for card information.
With the high security, the bank’s customers can be protected when using card
services.
Nguyen
Hung, TPBank’s general director, said information security has been the most
important factor for banks in the digital area. “This showed the bank’s
interest and serious investment in ensuring system security,” Hung said.
Suresh
Dadlani, ControlCase’s managing director, said he valued the implementation
of PCI DSS at TPBank. He forecast that the bank would continue to see rapid
growth in digital banking services based on the security system.
Earlier,
TPBank also co-operated with different card organisations, such as Visa to
develop contactless TPBank Visa Paywave cards, and with Napas to issue
domestic chip cards. It was the first bank in
Thank
to the IT foundation, TPBank has been one of the banks with a strong growth
in new cardholders.
Last
year, it issued hundreds of thousands of new cards nationwide.
PCI
DSS standard was established by the Standards Council of Security for payment
cards, including the founders: Visa, MasterCard, American Express (AMEX),
Discover Financial Services and JCB International. PCI DSS standard was
developed to help organisations protect card payment data against fraud and
illegal data usage.
VN effectively uses ODA from South Korea: KOICA
This
was revealed by Chairwoman of the Korea International Co-operation Agency
(KOICA) Lee Mi-kyung, at a meeting with head of the Central Economic
Commission Nguyen Van Binh on Tuesday.
Binh
emphasised that
The
Viet Nam–Korea Free Trade Agreement, which came into force on December 20,
2015, has created a new impetus for the achievement of the goal of increasing
bilateral trade between the two countries to $100 billion by 2020.
Appreciating
the effective co-operation of the government of Korea and KOICA in
contributing to the overall development of relations between the two countries,
Binh asked the Korean government, including KOICA, to continue to expand its
co-operation with Viet Nam in all areas, especially vocational training and
management capacity projects, in order to support the country in sustainable
development and to implement the five-year socio-economic development plan in
the 2016-20 period.
Binh
also asked
Vietnam growing as export destination for Republic of Korea
Exports
of the
Statistics
of the Korea International Trade Association (KITA) showed that last year,
the RoK exported 47.7 billion USD worth of products to
The
increase is impressive compared with three years ago when Vietnam-bound
shipments accounted for only 3.9 percent of the RoK’s exports.
The
trade surplus with
Trade
analysts attributed the growth to a bilateral free trade agreement which came
into effect from December 2015. Big name companies like Samsung Electronics
and LG Electronics have been setting up their production bases in
Ministry urged to design special mechanisms for north-south
highway
Deputy
Prime Minister Trinh Dinh Dung asked the Transport Ministry to soon submit
special mechanisms for the north-south highway project during a meeting to
launch the sector’s activities for 2018.
Dung
lauded the ministry for completing the task on building legal documents and
goals regarding transport, traffic safety, transport infrastructure and
administrative reform in 2017.
He
required the ministry to continue working to reduce traffic accidents which
still claim over 8,000 lives per year.
Another
issue of concern is the development gap among different transportation modes,
with the slow development of railways and highways putting pressure on national
routes and reducing economic competitiveness, the Deputy PM said.
He
also underlined the shortcomings of BOT projects which caused public disorder
recently and assigned the ministry to review legal regulations in the
field.
At
the same time, the ministry should review service costs in airports and
tighten the control of overload vehicles.
Transport
Minister Nguyen Van The said the sector will tighten discipline in personnel
work and raise the sense of responsibility of officials to fulfil its tasks.
Phu Tho province looks to boost exports
The
The
department will mobilise local enterprises to renovate their production lines
to improve competitive capacity, he said.
Significant
efforts will be channeled into reform of administrative procedures and the
implementation of guidelines of ministries, sectors and the province to
remove bottlenecks for business and production.
The
province targets to earn 1.3 billion USD in export revenue in 2018.
Last
year, Phu Tho’s export value rose 36.8 percent year on year to 1.3 billion
USD. This was the second time that the province’s export revenue surpassing 1
billion USD. Of the total amount, 1.1 billion USD was contributed by
foreign-invested companies.
Strong
growth was seen in the shipments of garment and textiles, sport shoes,
plastic and processed tea.
The
Local
enterprises worked to seek trade partners, popularise products whie expanding
production and improve product quality.
TH Group begins construction of hi-tech milch cow farm in Phu
Yen
Lying
in Son Dinh commune, the mountainous district of Son Hoa, the project will
raise 5,000 milch cows, build materials zones and produce around 72 tonnes of
fresh milk per day in the first stage with a total investment of 1.151
trillion VND (51.15 million USD).
During
the second stage, the cow herd will increase to 20,000 heads at a combined
cost of 4.570 trillion VND.
Apart
from more than 78 ha of land used for farms, the group will partner with
local residents to build feed materials zone on a site of roughly 377ha,
mostly corn and grass for cows.
The
milk processing plant is due to be built in An My commune, Tuy An
district.
Thai
Huong, TH Group founder, said the complex uses milch cow management
technology of
Once
operational in early 2019, the project will raise income for thousands of
workers in the locality.
VNN
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Thứ Sáu, 19 tháng 1, 2018
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