|
BUSINESS IN
BRIEF 29/3
Vietnamese firms urged to deeply explore Cuban market
Vietnamese enterprises need to devise specific business strategies and fully tap opportunities to further partner with Cuban firms, thus expanding their operation in the country, a Vietnamese official has said. According to Do Viet Phuong, Head of the Vietnamese Commercial Affairs Office in Notably, a Vietnamese Government-supported rice production project helped More importantly, the project has helped Cuban farmers acquire and master paddy growing techniques. The Vietnamese side will support A number of cooperation project between the two sides are on the progress, including those in real estate, consumer goods and beverage production, and pottery and ceramics. Phuong, however, noted that The Vietnamese Government should simplify policies on capital to make it easier for enterprises to improve their competitiveness in the Cuban market, he said, adding that it is necessary to organise events to provide more information related the Cuban market to Vietnamese businesses. In 2017, two-way trade between According to Pham Thiet Hoa, Director of the Investment and Trade Promotion Centre (ITPC) in He highlighted that Vietnamese firms have many opportunities to invest in Recently, ITPC in collaboration with the Cuban Consulate General in It also hosted a field trip for a delegation of Vietnamese firms to The Cuban Government clearly stated its policy of investment attraction to promote domestic production through issuing a new legal framework on foreign investment management and encouragement. It also established Mariel Special Economic Development Zone to call for foreign investment with many incentives. Meanwhile, the Vietnamese Government always encourages and creates the best possible conditions for businesses of the two sides to expand cooperation in order to make the economic and trade ties on par with bilateral political relations as well as the special time-honoured friendship. The two countries have set to achieve a trade value of 500 million USD by 2020. The State visit to Vietnamese, French firms urged to foster partnerships As Vietnam and France hold huge potential for economic, trade and investment cooperation, businesses of the two nations should enhance partnerships by capitalising on their advantages, thus serving development needs in each country, said Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh. Minh was speaking at a meeting between officials of the Vietnamese Government, ministries and sectors and leaders of French businesses in The Vietnamese officials included Minister of Industry and Trade Tran Tuan Anh, Minister of Natural Resources and Environment Tran Hong Ha, and leaders of the Ministries of Planning and Investment, Science and Technology, Justice, and Construction. Many big businesses of France were also present at the event such as aircraft manufacturer Airbus, electricity company EDF, infrastructure construction group VINCI, oil and gas company Total, energy company Air Liquide, environment firm SUEZ, and tyre producer Michelin. Amid the increasingly practical strategic partnership between At the meeting, representatives of the Vietnamese ministries and sectors provided much information about the country’s policies in various fields, including clean and renewable energy development, oil and gas exploration and exploitation, petrochemistry, clean water supply and wastewater treatment, climate change adaptation, environment, transport development, and projects under public-private partnership or build-operate-transfer forms. Leaders of the French enterprises lauded They expressed their wish to engage effectively in development and investment projects in
Domestic
pharmaceuticals stocks send good vibes to Abbott and Taisho
Since
the beginning of the fourth quarter of 2018, pharmaceutical stocks have been
forecast to thrive as bustling activities such as state divestitures, mergers
and acquisitions (M&A), and notable investments from foreign healthcare
firms are being announced left and right.
Speaking
about the investment and divestment activities between Vietnam-based
pharmaceuticals and foreign investors, a representative of State Capital
Investment Corporation (SCIC) disclosed that 34.71 per cent capital at
Domesco Medical Import Export Joint Stock Corporation (HSX: DMC) is on its
divestment agenda in April.
US-based
multinational healthcare firm Abbott has already expressed a wish to
participate in the divestment.
In
late 2017, Latin American CFR International SpA, DMC’s former largest
shareholder, transferred its entire ownership of 51.69 per cent to its parent
company, Chile-based Abbott Laboratories Holdco SpA shortly before the firm’s
extraordinary general shareholders’ meeting. In 2018 the Vietnam-based firm
plans to acquire VND1.468 trillion ($64.44 million) in sales revenues and
VND225 billion ($9.87 million) in pre-tax profit which would be 9.6 and 8 per
cent higher than in 2017.
The
ratio of EV/EBITDA (enterprise value over earnings before interest, taxes,
depreciation and amortisation) among seven randomly selected Vietnam-based
pharmaceuticals ranged from 17 to 19 throughout M&As.
Likewise,
DHG Pharmaceutical JSC (HSX: DHG) plans to present its target of raising
foreign ownership at the firm to 100 per cent at the March 28 AGM.
DHG
also aimed at merging with its two subsidiaries, MTV DHG1 JSC (specialised in
packaging printing) and MTV DHG Pharmaceuticals JSC, expecting to earn
VND4.017 trillion ($176.34 million) in sales revenue and VND768 billion
($33.71 million) in after-tax profit by the end of 2018.
In
addition, the starting price of DHG's stocks is expected to hit
VND130,000-145,000 ($5.71-6.37) once the merger with its two subsidiaries is
finalised on July 1 and its plan of increasing foreign ownership in the
second quarter of 2018 is approved by shareholders.
Previously,
Japan-based Taisho Pharmaceutical, DHG's key shareholder, disclosed its
expectation to raise ownership at the Vietnamese pharmaceutical firm.
According
to Ho Chi Minh City Securities Company (HSC), the ratio of EV/EBITDA
(enterprise value over earnings before interest, taxes, depreciation and
amortisation) among seven randomly selected Vietnam-based pharmaceuticals
ranged from 17 to 19 throughout M&As.
Nexen Tech builds first manufacturing facility in Vietnam
The
A
pioneer in automation, Nexen Tech Corporation Limited Company has realised
its expansion strategy to Southeast Asia by developing a new facility in Gia
Phu Industrial Complex (Ninh Binh) which is 140 kilometres from
Nexen
Tech signed a memorandum of understanding with Hoang Dan Investment and
Construction Single Member Limited Company on land leasing for the construction
project.
The
signing ceremony was attended by Nguyen Cao Son, director of the Ninh Binh
Department of Planning and Investment, Lee Hyun Chul, vice chairman of Nexen
Tech, and Nguyen Van Dan, director of Hoang Dan.
The
facility will focus on manufacturing wiring harness—the company's flagship
product with a production volume of about 450,000 products a year—used in
large and small buses as well as battery module harness (battery module
system) and electric vehicle charger cables, among others, to prepare for a
forecast boom in hybrid electric vehicles from 2020.
The
company also plans to increase the product volume for automakers in Southeast
Asia who are rapidly growing, and then expand outside of
Nexen
Tech is currently operating two manufacturing facilities in
Nexen
Tech is showing very positive moves in opening up the Southeast Asian market
to access new growth drivers.
Earlier
this March, Nexen Tech partnered up with Volex from the
Thus,
Nexen Tech's products have the potential to be used in electric vehicles
developed by Tesla or equipment from Dyson
"This
new plant will be our next step in entering
Hong Leong Bank Vietnam appoints new CEO
Mr.
Duong Duc Hung has been officially appointed as General Director of Hong
Leong Bank
Mr.
Hung has more than 20 years of experience in finance and banking services in
Hong
Leong Bank
It
was the first Southeast Asian bank to be granted a license to operate a
wholly-owned foreign commercial bank in
Hong
Leong Bank Berhad, a public listed company on
Hong
Leong Bank started from humble beginnings in 1905 in Kuching,
In
2004, the finance company business of Hong Leong Finance Berhad was acquired
by Hong Leong Bank. With more than 100 years of banking knowledge and
experience, Hong Leong Bank today has a strong heritage, leading market
position and a well-recognized business franchise and brand.
In
2011, it completed a merger with the EON Bank Group. The merger effectively
transforms the bank into a banking group with more than RM145 billion ($370.5
billion) in assets and an expanded network of 329 branches nationwide.
Today,
Hong Leong Bank has over 300 branches and sales and business centers in
It
is enlarging its regional footprint. In mid-2008, it officially became the
first Malaysian bank to enter the Chinese banking sector, with a 20 per cent
strategic shareholding in the Bank of Chengdu. In December 2008, it became
the first and only Malaysian and Southeast Asian bank to be granted a license
to incorporate and operate a 100 per cent wholly-owned commercial bank in
JLL's keys to sustainable integrated developments
The
number of integrated development real estate projects has increased
substantially within
The
report pointed out the keys to sustainable integrated development. First is
fresh air and a high-quality landscape, with a focus on shaded areas.
Premium
parks and public spaces benefit integrated projects by creating sustainable
value economically, socially and environmentally. Green space is a vital part
of everyday life for urban Vietnamese. The
Second
is convenient and available transportation. Most integrated projects will be
developed in outskirt areas in the future due to land limitations. Close
proximity to the CBD is no longer important due to improving infrastructure,
but convenient transportation enabling easy travel to surrounding areas is a
strong competitive advantage.
In
remote areas without available planned infrastructure, developers can look
into providing their own transportation, such as shuttle bus services to
various key locations within the city.
Third,
walkable and lively neighborhoods are also an important element. Vietnamese
customarily enjoy walking, spending time in parks, and communicating with
their neighbors. Developers should therefore leverage shop house developments
along internal roads and main roads to create an active street scene. This
has been successfully achieved at the Phu My Hung township in
Fourth,
careful massing of buildings and a variety in architecture design together
with meticulous consideration for human scale will allow for a livable public
space. Avoiding a monotonous building expression will provide a delightful
pedestrian experience and enhance the living environment. One good example is
the Thu Thiem new urban area in
High-level
education infrastructure is the final element, as education is one of the top
priorities for Vietnamese parents. This is an opportunity for developers to
incorporate schools into the infrastructure and create a competitive edge.
Vingroup has been successful by including their schooling operations into
their townships.
Other
than the plain mono-function residential cluster, the integrated development
term refers to a neighborhood or township development with mixed-use
components, such as residential, retail, institutions, leisure and more,
where residents can live, work and play. It comprises multifunctional and
interconnected buildings that focus on the surrounding environment to ensure
a harmonious “street-scape” and architecture.
Savills
The
Vimedimex Group’s Vimefulland project has officially appointed Savills
These
include Belleville Hanoi, The Emerald and The Eden Rose, which have been
under Savills’ management since last year and their latest residential
projects, Iris Garden and Athena Fulland.
Iris
Garden is a 2.2 ha development at 30 Tran Huu Duc Street in Hanoi, adjacent
to the major junction of the key city routes of Thang Long Avenue, Ring Road
No. 3, Le Duc Tho and Ham Nghi Street. It has an excellent location with
leading schools, universities and several hospitals all easily accessible as
well as extensive shopping and entertainment facilities nearby, such as the
Pedagogical University, the National University, the Academy of Journalism
and Communications, FPT University, the University of Commerce, My Dinh
sports complex, Hospital 198, and the National Institute of Blood and Blood
Transfusion.
It
comprises five towers providing 1,128 apartments in total. The
fully-integrated resident facilities include a shopping mall, supermarket,
healthcare services, restaurants, a kindergarten, pools and tennis courts.
Athena
Fulland, with two main areas,
It
offers many five-star facilities, including green landscapes, schools, a
shopping mall, a spa, a gym, and a restaurant, offering future residents a
convenient and modern lifestyle.
With
a particular emphasis on healthcare facilities, Vimefulland integrated a
550-bed family clinic and a mini pharmacy in Iris Garden,
Construction
of both projects got underway in late 2017.
Mr.
Matthew Powell, Director of Savills Hanoi, told the signing ceremony with the
Vimedimex Group that it is its honor to have long term cooperation with the
group and Vimefulland, particularly in the two new residential projects of
Iris Garden and Athena Fulland. “The cooperation in the early stages of the
projects demonstrates the efforts of both the developer and Savills in
achieving a well-designed and well-managed property,” he added. “As our
mutual goal is to improve the product and services provided to future
residents, Savills believes our cooperation is a strategic move by
Vimefulland in solidifying its position in
Korean Nexen Tech plans VN factory
Nexen Tech Ltd Co from the Earlier last week, the company inked a memorandum of understanding with the construction firm Hoang Dan - the complex’s investor - on a land lease for the factory, baodautu.vn reported. The factory will manufacturing wiring harnesses - Nexen Tech ’s flagship product with a production volume of about 450,000 products a year - used in large and small buses as well as battery module harnesses and electric vehicle charger cables. The company said it plans to provide more products for automakers in Southeast Asia who are rapidly growing, and then expand outside of Nexen Tech’s managing director Kim Jeong Hoon described the establishment of the plan in Viet Nam as an another step for his company to tap into Southeast Asian markets. Industry goals for the coming years Under Resolution 23-NQ/TW to develop the national industry until 2030, with a vision up to 2045, issued recently by the Politburo, the processing and manufacturing industries will make up some 30 per cent. The value of high-tech processing and manufacturing products is targeted to reach at least 45 per cent, while industrial labour productivity will increase by 7.5 per cent on average annually. The industrial growth rate will average over 8.5 per cent, of which the processing and manufacturing industry will see a rise of 10 per cent yearly. The resolution also sets the country’s competitive industrial performance index among the top three countries in the ASEAN, while the percentage of workers in the industrial and service sectors is over 70 per cent. Under the new plan, the Politburo aims to finalise the country’s industrialisation and modernisation targets and become one of the top three countries in industry in the ASEAN by 2030. To meet the targets, Some large industrial clusters will also be built to link domestic industrial enterprises and help them gain international competitiveness. According to experts, the development of the industry will be the key driver to boost the country’s GDP growth in the first quarter of this year. The National Centre for Socio-Economic Information and Forecast (NCIF) under the Ministry of Planning and Investment estimated the GDP growth in Q1 will be 6.23 per cent, much higher than the 5.15 per cent seen in the same period last year. Of this growth, industry and construction will lead all sectors, with a growth rate of 6.87 per cent. Dang Duc Anh, head of the NCIF’s Department of Analysis and Forecast, said the surge of 17 per cent in the manufacturing and processing industries in the first two months of this year will drive the whole industry sector. GDP growth in 2018 is now predicted to hit 6.83 per cent, higher than the NCIF’s forecast in December last year. The Government’s efforts to remove challenges for businesses are expected to help boost the industry and construction sectors, NCIF said. Major projects in the processing and manufacturing sectors and the newly signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership are predicted to lift investment and trade. The GSO’s Business Sentiment Survey of manufacturing and processing enterprises released recently also showed that 48.2 per cent of businesses were optimistic that the trend would improve, 35.7 per cent of businesses believed business would be stable and 16.1 per cent of enterprises predicted more difficulties. Nha Trang to host exhibition and conference on science and technology for agricultural development The exhibition and conference "Science and Technology for Agricultural Development in the South Central Coast - Central Highlands in 2018" will be held in Khanh Hoa Province’s Nha Trang city from June 28 to July 1. The programme will feature five main activities: an exhibition introducing agricultural products, and technology and equipment used in the agricultural sector; a conference on science and technology applications in agriculture; a programme to promote investment in technology and technology transfer; an agricultural extension programme; and a technology demonstration. The exhibition is expected to have 300-400 booths set up by businesses, co-operatives and farmers from more than 20 provinces and cities. Tran Xuan Dich, deputy director of the National Agency for Technology Entrepreneurship and Commercialization Development under the Ministry of Science and Technology, said, in addition to tourism, the agricultural sector plays an important role in contributing to social-economic development in the South Central Coast region. The region’s agricultural development was still slow compared to its potential, he said, adding that “farmers and businesses need to embrace the application of advanced technologies to create specific products of each locality that are highly competitive in both domestic and export markets.” The programme promises to provide a good chance for farmers, businesses, organisations and scientists to exchange information, understand each other’s challenges and enhance co-operation in technology application in the agricultural sector so as to improve product quality and productivity as well as the value of Vietnamese farm produce, he said. Phan Thi My Yen, director of the Centre for Viet-Trademark Research Application and Development, said recent research conducted by the Ministry of Agriculture and Rural Development showed that science and technology contributed 30-40 per cent of the agricultural sector’s growth in past years. "The figure is expected to increase since more and more businesses have made big investments in the sector," she said. The event is organised by the National Agency for Technology Entrepreneurship and Commercialization Development and the Centre for Viet-Trademark Research Application and Development in collaboration with the Ministries of Agriculture and Rural Development and Industry and Trade together with 24 localities nationwide. Vietnam seeks to develop aquaculture sustainably Minister of Agriculture and Rural Development Nguyen Xuan Cuong highlighted Vietnam’s determination to fight illegal, unreported and unregulated (IUU) fishing and build a sustainable aquaculture during his recent talks with European Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella. In an interview with correspondents from Vietnam News Agency in The country has worked out measures to improve its institutional system and include EU recommendations on IUU fishing into the revised Law on Fisheries, Cuong said. After the bill was passed by the National Assembly in late 2017, The country has focused on raising awareness of the sustainable use and management of aquaculture among people, businesses and local authorities. Additionally, Prime Minister Nguyen Xuan Phuc has decided to establish a working group to inspect the implementation of IUU regulations, Cuong noted. He said he had asked the EU Commissioner to provide technical support and human resources training for The visit to the EU and The EU agreed to work with Promoting effective, legal and sustainable fishing is the common goal of the aquaculture sector, not only in the EU but in all global markets. “We need to exert more efforts to achieve this inclusive target,” he said. He suggested refining the newly adopted Law on Fisheries and other relevant regulations. He also stressed calling for the involvement of society to improve infrastructure for the fishery sector and human resources training; asking all economic sectors, including fishermen and businesses, to strictly follow legal regulations on IUU fishing; and increasing international cooperation.
FLC Group selects A321neo for Bamboo Airways
The
agreements were signed in
Bamboo
Airways is set to begin operations in 2019 with aircraft on lease from third
party lessors before taking delivery of the aircraft covered by today’s MOU
with Airbus. The carrier will focus on linking international markets to
Vietnamese leisure destinations, as well as on selected domestic routes.
"After
evaluating carefully the competing products, FLC Group and Bamboo Airways
have selected the A321neo as the most efficient option for our new
operation,” said Trinh Van Quyet. “The A321neo will enable us to combine
comfort, efficiency and the right capacity for our planned services, which
will primarily serve fast growing leisure markets in
“We
are proud that the A321neo has been selected by FLC Group,” said Schulz.
“This decision once again underscores the position of the A321 as the
aircraft of choice in the mid-market segment with its additional capacity and
the very lowest operating cost.
FLC
Group is one of the largest conglomerates in
The
A321 is the largest member of the A320 Family, seating up to 240 passengers,
depending on cabin configuration. Incorporating the latest engines,
aerodynamic advances, and cabin innovations, the A321neo offers a significant
reduction in fuel consumption of 20 percent by 2020. It offers the longest
range of any single-aisle aircraft and is capable of flying up to 4,000
nautical miles non-stop.
Pearson and EMG open new test centres in Vietnam
Pearson,
the creator of the Pearson Test of English Academic, the world’s leading
computer-based English language test, has opened two new test centres in
Vietnam in co-operation with EMG Education, providing Vietnamese students
with more choice and access to the English language tests required to study
internationally or pursue further studies within Vietnam.
The
test centres in
The
opening ceremonies will take place on March 27 for the
David
Barnett, managing director of Pearson Asia Pacific, said, “The opening of
these two new test centres, in partnership with EMG Education, demonstrates
Pearson’s commitment to providing greater choice and access to English
language testing for students in Vietnam.”
“We
are very pleased to be working alongside EMG and feel confident in the
benefits this partnership will bring to Vietnamese learners. Pearson is proud
to support the aspirations of Vietnamese students,” he added.
With
a focus on fair, impartial marks and typically offering results within five
business days, PTE Academic scores are now accepted as evidence of English
language proficiency by thousands of academic programmes around the world.
These include all universities in
Nguyen
Phuong Lan, CEO and vice chairwoman of EMG Education, said, “EMG Education is
very pleased to work alongside such a reputable partner as Pearson to bring
further benefits to Vietnamese learners.
“EMG
Education is a leading education organisation in
Pearson
is the world’s leading education company with 35,000 employees in more than
70 countries, working to help people of all ages make measurable progress in
their lives through learning.
Mekong Delta prioritizes processing industry, transport
infrastructure
The
revised planning for the Mekong Delta until 2030 with a vision towards 2050
targets sustainable growth and adaptation to climate change, with a focus on
developing the processing industry and upgrading transport infrastructure.
Addressing
the launch of the region’s revised planning in Can Tho City last Friday, head
of the Ministry of Construction’s Planning and Architecture Department Tran
Thu Hang said that the industrial development will be oriented towards
processing agricultural, forestry, aquaculture products and food.
In
addition, the region will work towards developing material areas,
diversifying products, expanding consumption markets, promoting supporting
industries, and encouraging investments in clean and renewable energy.
According
to Hang, operations of existing industrial parks will be optimized, including
enhancement of the processing industry and supporting industries for the
agricultural sector. Industrial parks (IPs) have a combined area of
15,000-17,000 hectares towards 2030, and such parks may expand to
20,000-24,000 after 2030. There will be a restriction on establishing new IPs
if occupancy at existing ones is low.
Regarding
the planned locations of such industrial parks, Hang said that multi-sectoral
IPs are mainly established in Long An and Tien Giang provinces, which have a
total of some 10,000 hectares and are close to HCMC. Meanwhile, industrial
parks for agricultural and seafood processing and energy with 1,500-1,800
hectares are in Can Tho City.
Energy
and seafood processing facilities are also located in other provinces like Ca
Mau, Tra Vinh, Soc Trang and Kien Giang.
As
for the transport sector, under the revised planning towards 2030, transport
infrastructure will be upgraded and built anew to have a well-connected
transport network besides improving urban public transport and connecting
cities by modern, environmentally friendly means of transport.
With
road transport, more expressways will be developed, including the extension
of the HCMC-Trung Luong-Can Tho expressway to Ca Mau, and development of Ha
Tien-Rach Gia-Bac Lieu-Chau Doc-Can Tho-Soc Trang expressway. In addition,
the region will upgrade major roads including some 20 national highways and
highway sections.
The
region’s transport infrastructure development also includes building bypasses
and upgrading important provincial roads connected to national highways.
Regarding
water transport, tasks for the coming years are upgrading roads to ports in
the Tien and Hau rivers, the Ca Mau peninsula area and the western-sea area
to meet passenger and cargo transport needs, as well as upgrading management
facilities to ensure maritime safety.
Inland
waterways will be developed in association with road infrastructure to
increase the entire region’s transport capacities.
HCMC-Can
Tho and Can Tho-Ca Mau railways will be built in accordance with the master
plan for railway development until 2020 with a vision towards 2030, Hang
said.
Housing supply increases despite tightened credit
Many
banks have tightened credit for the real estate sector, which is evident in
outstanding loans and higher interest rates but real estate supply is still
increasing.
The
Bank for Investment and Development of Vietnam (BIDV) has raised interest
rates for home loans by 0.7-0.9% per annum, according to Thanh Nien
newspaper. BIDV’s current preferential interest rate for home buyers in the
first 12 months is 8.5% per year while the rate for the following years is
the average deposit rate plus a certain percentage.
Do
Minh Toan, general director of Asia Commercial Bank (ACB), said the bank is
restricting real estate loans, which currently account for less than 10% of
the bank’s total outstanding loans.
“We
target customers who buy their first or second house and pay off the loans
using their monthly wages while refusing individuals and businesses who buy
houses and apartments for speculative purposes,” Toan said.
Nguyen
Hoang Minh, deputy director of the State Bank of Vietnam (SBV) branch in
HCMC, said real estate loans of banks nationwide account for 10.9% of total
outstanding loans at present, a slight increase compared to end-2017. The
lending rates are also higher than that of other sectors, ranging from 9% to
12% per annum.
According
to the National Financial Supervisory Commission (NFSC), real estate and
construction loans account for 16.1% and consumption loans 18.3% of the
country’s total outstanding loans, meaning more than VND2,000 trillion
(US$87.75 billion).
Notably,
housing supply is increasing despite tightened real estate lending
requirements. Dat Xanh Group said it sold more than 22,100 units last year
and will launch another 28,000 units this year.
After
staying muted on the market last year, Novaland Group has plans to come back
by launching a number of projects in eastern HCMC. Hung Thinh Corp. will
launch some 12,000 units while many other real estate developers have plans
to expand their presence in the real estate market.
Le
Hoang Chau, chairman of the HCMC Real Estate Association (HoREA), said real
estate firms foresaw the tightening situation and have taken appropriate
measures, like cooperating with foreign partners to expand their business and
market reach.
Nguyen
Du Luc, chairman of Hung Loc Phat Co Ltd, said in addition to shaking hands
with foreign partners, domestic real estate developers have been more focused
on their target market segments. According to Luc, most recent projects are
sold out, showing that housing demand remains high.
However,
some real estate experts said the increased supply and credit tightening
policy will affect the real estate market. Real estate companies will have to
lower the prices and launch more promotional programs and better after-sale
service to lure buyers.
Thua Thien-Hue seeks nod for Phu Bai airport upgrade
Chairman
of Thua Thien-Hue Nguyen Van Cao said he had a meeting with the Ministry of
Transport last Wednesday to ask for support to upgrade the airport which has
become overburdened. The airport has a designed capacity of 1.5 million
passengers a year, but the number last year already hit 1.75 million, Cao
told reporters last week.
The
provincial chairman stressed that infrastructure facilities are adequate,
while the air passenger volume is rising by 13% to 17% a year. It is
estimated that the number of passengers at the airport will reach some 3-3.5
million after two more years, and some 6.5-7 million by 2025.
In
response, Minister of Transport Nguyen Van The underlined the significance of
Phu Bai Airport to the development of central Vietnam in general and the
province in particular, and said the airport upgrade project was already
included in the master plan for aviation transport development to 2020, with
a vision towards 2030.
VND1 trillion in social-home loans to be disbursed soon
The
Vietnam Bank for Social Policies (VBSP) is ready for disbursing VND1 trillion
this year to provide loans for buyers of social houses, which may start in a
few weeks, according to a source from the bank.
The
bank’s deputy general director Nguyen Van Ly was quoted by Dan Tri newspaper
as saying that procedures for the program have been carried out.
According
to Ly, the bank has prepped for the lending program. When the Ministry of
Finance transfers the money, which is in the coming weeks, loans can start
flowing to borrowers. The bank has had VND500 billion in hand and is waiting
for another VND500 billion from the State budget.
The
preferential rate for this year should be 4.8%, but a final say on this rate
will rest with the Government, Ly said.
Under
Decree 100/2015/ND-CP, individual and household borrowers of concessional
loans of the VBSP are required to make monthly deposits at the bank in 12
months minimum and with the amounts demanded by the lender. Regarding this
rule, Ly said borrowers can get loans and then make deposits or the other way
round, but the bank will provide lending products first.
He
added that such deposits are not for clients to get interest but to save
money for the lending program.
Vinh Long urged to become leading province in development
Prime
Minister Nguyen Xuan Phuc has asked the Mekong Delta
PM
Phuc delivered the request while attending a conference held in Vinh Long on
March 27 to call for more investments into the province. The conference saw
the participation of more than 800 delegates, including hundreds of domestic
and foreign businesspeople.
The
government leader urged the province to work out a sustainable development
model adaptive to climate change and based on smart agriculture and
ecotourism.
To
that end, Vinh Long should join the key economic region of the Mekong Delta
in the next five years, by focusing on improving the quality of education, he
said.
It
is necessary to combine the province’s climate change adaptation strategy
with its socio-economic development strategy and incorporate economic
development with environmental protection and social welfare to ensure
sustainable development, PM Phuc stressed.
The
PM also advised Vinh Long to build a connectivity chain in agriculture to
link farmers, the State, investors, banks, scientists and distributors, as
well as seeking measures to increase the number and scale of enterprises in
the province and well connecting domestic and foreign businesses.
The
Government leader welcomed the signing of a plan by Vinh Long, Ben Tre, Tra
Vinh and Tien Giang provinces aiming to tighten their connectivity, and
suggested Vinh Long study to become the region’s agricultural product
processing centre.
The
province needs to restructure its agriculture and fisheries with the focus on
expanding hi-tech application to raise the added value, together with
improving its policies and mechanisms, and reducing unnecessary
administrative procedures to improve the investment climate, PM Phuc added.
Chairman
of the provincial People’s Committee Nguyen Van Quang said Vinh Long is
giving priority to calling for investments in hi-tech agriculture and tourism
as it is home to 11 national cultural and historical relic sites, and 43
provincial-level ones.
Along
with the government’s preferential policies, the provincial People’s
Committee has issued its own incentives to facilitate investors’ operations, Quang
said.
At
the conference, the local authorities presented certificates of investment
registration and signed memoranda of understanding on investment to 32
projects with a combined capital of around 24 trillion VND (1.05 billion
USD).
VNN
|
Thứ Năm, 29 tháng 3, 2018
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét