Decree drafted to empower SSC to halt market trading
The Ministry of Finance is
preparing a decree that allows the State Securities Commission (SSC) to
shut the market down temporarily to prevent it from tumbling if any bad
news appears and damages market sentiment. — Photo dan viet.vn
The State Securities Commission may be authorised to switch the stock market
off if it falls too much in the trading day. The empowerment is a part
of the decree the Ministry of Finance is writing to implement the amended Law
on Securities, which was passed by the National Assembly on November 26,
2019.
If
completed, the decree will give the State Securities Commission (SSC) the
full authority to halt the stock market if trading goes berserk.
The
temporary shutdown, which is widely used in developed markets such as the US
and South Korea, aims to calm the market down if any bad news has a negative
impact on the overall sentiment.
In the US
markets, if main indices fall as much as 7 per cent, the market will be
halted the first time for 15 minutes. If the indices fall by 13 per cent, the
market will be halted the second time for 15 minutes. But when the decline
reaches 20 per cent, the regulator will close the market for the whole day.
In South
Korea, trading is halted for 20 minutes if either the Kospi or Kosdaq – the
two main indices – fall 20 per cent from the previous day’s close. The
switch-off is activated once a day only.
Amid the
prolonged COVID-19 pandemic and rising tensions between world’s largest
economies, the global stock markets are becoming more vulnerable and
sensitive to bad news.
Since the
beginning of the year, the VN-Index has fallen by more than 3 per cent on
nine trading days. The worst daily decline year-to-date was recorded on March
9 when the VN-Index tumbled 6.28 per cent.
According to
the finance ministry, the market turbulence caused by large-scale sell-off is
considered a threat to the security of the equity market. Reasons for such a
sell-off may come from bad news of the international markets, the dissolution
or insolvency of a company, and changes of regulations.
Aside
halting the market, the SSC may also ask stock exchanges to adjust the
trading time and change the daily trading limit of stock prices to prevent
the market from plunging.
The finance
ministry is gathering feedback from securities companies, specialists and
State agencies to complete the decree./.
First batches of Vietnamese
lychee arrive in Japan
The
first batches of fresh “thieu” lychee to Japan, more than 2 tonnes in total,
have gone through customs clearance at Japan's Nirata International Airport
and will be hitting shelves soon, according to the Plant Protection
Department.
Japanese
experts on June 18 examined and supervised phytosanitary measures and
treatment for the lychee in the northern province of Bac Giang where the
fruit was grown. The shipments were made by exporters Ameii Vietnam JSC and
Chanh Thu.
The two
companies dispatched two other shipments to Japan by sea on June 20, around 3
tonnes each, which are expected to arrive the country within seven days.
Japan is
expected to purchase about 100 tonnes of fresh “thieu” lychee from Vietnam
this year.
Over the
last four years, the Ministry of Agriculture and Rural Development (MARD) has
worked with the Japanese Ministry of Agriculture, Forestry and Fisheries
(MAFF) to conduct testing and negotiations to pave the way for the export.
Last year,
the MAFF finally agreed to import lychee from Vietnam.
Earlier,
Japanese experts went to Bac Giang’s Lục Ngan district to check and were
satisfied with the lychee growing areas granted with export standard codes.
However, they still have to directly supervise the process of harvesting,
preserving and packaging of lychee exported to this market.
The lychee
exports must be packed and treated with methyl bromide fumigation at
facilities approved by the Plant Protection Department and MAFF with a
minimum dosage of 32g per cu.m within two hours, under the supervision of
Vietnamese and Japanese plant quarantine officers./.
Binh Thuan looks to stimulate
tourism
As in
many other localities in Vietnam, Binh Thuan’s tourism sector has been
seriously hit by COVID-19, with tourist numbers down 60 percent compared to
the same period of 2019. The province promptly restructured its tourism
sector, however, and carried out appropriate programs to attract tourists
once more.
According to
figures, 80 percent of tourism service providers have now resumed operations.
And tourists have begun to return to Binh Thuan, particularly “hot
spots” such as Mui Ne and Hon Rom.
The
preferences of domestic holidaymakers have changed. They now prefer small,
private tours rather than large groups.
Tourism
companies have introduced many attractive promotional programs, offering
discounts of up to 50 percent.
Tourists
beginning to return to Binh Thuan is a positive sign for the local tourism
sector. Tourism companies, however, need to work together to create more
tourism products and attract more visitors./.
Japanese NGO funds organic
agriculture project in Dong Thap
Japanese
non-governmental organisation (NGO) Seed to Table (STT) has provided an
assistance package worth 55,000 USD for the Mekong Delta province of Dong
Thap to develop an organic agriculture project in the 2019-2022 period.
Chief
Representative of INO Mayu said the project will be carried out in nine
communes of Hong Ngu, Thanh Binh, Cao Lanh, Lap Vo, Chau Thanh districts, and
Cao Lanh city; and at 12 local secondary and high schools.
Through the
project, local farmers will apply organic cultivation techniques in
agriculture production, and improve their livelihood by establishing
production groups.
It will also
help them increase the value of farm produce, better their skills in
processing organic farm products and managing the quality of products, and
increase market access opportunities.
According to
Deputy Director of the provincial Department of Agriculture and Rural
Development Vo Thanh Ngoan, the project not only supports directly farmers
but also equips teachers and pupils with organic agricultural knowledge, thus
raising their awareness of the importance of protecting the ecosystems and
the environment.
Ngoan said
agriculture plays a particularly important role in ensuring food security,
creating jobs and income for 70 percent of the local population, and
significantly contributing to the province's economic development.
Dong Thap is
the second locality in Vietnam to receive support from the Japanese
organisation for organic agriculture development. A similar project totaling
over 248,000 USD funded by STT was implemented in the Mekong Delta province
of Ben Tre in 2018./.
Samsung regains top spot in
Southeast Asian smartphone market
Samsung
Electronics Co. recaptured the top spot in the Southeast Asian smartphone
market in the first quarter of the year by edging out its Chinese rivals,
according to a recent Counterpoint Research report.
Samsung's
market share in Southeast Asia stood at 18.9 percent in the January-March
period, outperforming Chinese phone maker Oppo by 0.2 percentage point,
Yonhap news agency cited the report as saying.
Chinese
players also occupied the third to fifth spots on the list. Xiaomi came in
third at 14.8 percent, followed by Vivo with 13.6 percent and Realme with 7.3
percent.
Samsung has
been taking the top spot in the Southeast Asian market, but in the fourth
quarter of last year, it was beaten by Oppo.
According to
Counterpoint Research, the rise in premium smartphones in the region is
boding well for Samsung.
Budget
smartphones priced less than 100 USD accounted for 27 percent of the
Southeast Asian market in the first quarter, down from 46 percent a year ago.
In contrast,
the portion of smartphones priced between 600 USD and 900 USD increased from
4 percent to 10 percent over the cited period./.
RoK to launch promotions to
attract Vietnamese tourists
The Korean
Tourism Organisation (KTO) of the Republic of Korea (RoK) in Vietnam plans to
host a series of cultural and tourism activities in Hanoi to promote tourism
to the country, a KTO representative said.
According to
Park Jong-sun, chief of KTO’s representative office, the “Korea Travel
Experience Booth”, which is to take place in Hanoi from August to October,
will offer a chance for visitors to find useful information on the RoK’s
culture and popular tourism destinations at large-sized booths.
Park said it
will also hold online events to increase its exposure and influence.
It will hold
the “Korean Days in Hanoi” programme in November, following the success of a
similar event in Hanoi in 2017.
A dance
contest will be held specifically for Vietnamese dancers. The “Korea Tourism
Yoona Dance Cover Challenge” will take place in August or September, with
contestants covering dances by Yoona, a member of the Girls’ Generation
(SNSD) group, performed in KTO videos promoting Korean tourism.
Through the
contest, KTO wishes to promote the RoK’s bustling and fun image associated
with Hallyu culture, thus attracting more young people to the country.
Meanwhile, a
photo contest called “Relive your Korea trip”, launched in April, will recall
visitors’ wonderful memories of their visit to the RoK.
KTO will
also cooperate with travel companies in Vietnam and especially those in Hanoi
in a campaign to boost tours to the RoK as soon as the COVID-19 pandemic is
brought under control and flights between the two countries reopened.
Park said
that through activities to promote Korean tourism in the second half of 2020,
KTO hopes to attract Vietnamese tourists to the country once again, further
fostering tourism exchange between the two countries in the time to come./.
Businesses seek to optimise
opportunities from EVFTA amid COVID-19
Close to 150
businesspeople active in agricultural products, food processing, paper
making, functional foods, logistics, and banking came together at a seminar
in Hanoi on June 17 to seek opportunities from the EU-Vietnam Free Trade
Agreement (EVFTA) amid the COVID-19 pandemic.
Legal
consultants were also on hand to provide support regarding laws on
international trade.
Hoang Quang
Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI),
said the pandemic has affected every region of the world and many countries
have suffered heavy human and economic losses.
Vietnam,
however, has curbed the spread of the virus and begun to recover its economy
in the “new normal” conditions, he said.
The EVFTA
will take effect from August 1 this year and is expected to pave the way for
businesses to make inroads into fastidious markets with huge potential in the
European bloc, he added.
Tran Huu
Huynh, Chairman of the Vietnam International Arbitration Centre (VIAC),
suggested businesses study market practices to avoid legal risks when
conducting international trade.
Jean Jacques
Bouflet from the European Chamber of Commerce in Vietnam (EuroCham) updated
those at the seminar on the COVID-19 situation in Europe as well as trade
policies being implemented to support global trade, especially in
establishing new consumption and supply chains./.
Indonesia to convert 1.4
million ha of peatlands into rice fields to address food shortages
The
Indonesian Government is pushing ahead with a plan to convert 1.4 million ha
of peat swamps into rice fields as the COVID-19 pandemic threatens to create
food shortages across the country, according to Coordinating Minister of
Economy Airlangga Hartarto.
The country
is feeling the brunt of a food crisis as the coronavirus outbreak has
severely disrupted domestic cultivation and food supplies.
The
Government is set to expand rice farming areas through a
peatland-to-ricefield project in Kalimantan. The initial goal of establishing
about 900,000 ha of rice fields in the peatlands has been raised to 1.4
million ha, Hartarto said.
It is
carefully looking into the plan, since only 90,000 out of the 1.4-million-ha
peatland have irrigation systems. Most peatlands suitable for converting into
rice fields are located in the districts of Pulang Pisau, Kapuas, and South
Barito on Kalimantan.
Agricultural
restructuring is among the national programmes prioritised by President Joko
Widodo to bridge development gaps and improve living standards./.
Over 6.4 trillion VND raised
through June 17 G-bond auction
An auction
of Government bonds on the Hanoi Stock Exchange (HNX) on June 17 raised 6.414
trillion VND (276.74 million USD) for the State Treasury.
G-bonds
worth 6.5 trillion VND were issued, with five-year bonds bringing in 1.5
trillion VND, ten-year bonds 2.5 trillion VND, 15-year bonds 2 trillion VND,
and those with a maturity of 20 years 500 billion VND.
Some 1.435
trillion VND worth of five-years bonds was mobilised at an annual interest
rate of 1.95 percent, 0.03 percent higher than at the previous auction on
June 10.
All the
10-year bonds were sold for 2.5 trillion VND with an annual interest rate of
3 percent, down 0.01 percent against the June 10 auction.
Besides, all
the 15-year bonds were also sold for 2 trillion VND with an annual interest
rate of 3.15 percent, unchanged from the previous auction on June 10.
Meanwhile,
20-year bonds were sold at an annual interest rate of 3.45 percent, 0.02
percent higher than at the previous auction on June 3 and raising 479 billion
VND for the State Treasury.
The State
Treasury has collected 74.107 trillion VND via G-bond auctions at HNX so far
this year./.
Chinese group to build
1.62-bln-USD hydropower plant in Indonesia
China Gezhouba
Group Corporation (CGGC) has recently inked an 11.52 billion yuan (1.62
billion USD) deal with Indonesia Dafeng Heshun Energy Industri to construct
Data Dian hydropower project in North Kalimantan province.
The project
is part of the Belt and Road Initiative (BRI) and proactive connection with
Indonesia’ Global Ocean Support Point strategy. The installed capacity of the
power plant is 1,200 megawatt (MW) and the average annual power generation is
7,770 GWh.
CGGC
Chairman Chen Xiaohua said the project should allow Indonesia to better tap
into its abundant hydropower assets in the Kalimantan region and provide
power supply for the construction of industrial parks with advanced metal
smelting as the leading industry in such areas as Tanjung Selor.
Indonesia is
aiming to transform its North Kalimantan province into the country’ energy
and mining hub, while China currently considers Indonesia as a key partner in
promoting the BRI, he said.
CGGC said it
is looking forward to participating in additional major projects in
Indonesia, including the construction of key facilities such as thermal power
plants, highways, industrial parks, and ports.
In July
2019, the two countries agreed to prepare special funds in the BRI project as
a result of bilateral meetings between Indonesian President Joko Widodo and
Chinese President Xi Jinping on the sidelines of the G-20 Summit in Osaka,
Japan.
In the
meeting, Widodo took the initiative to submit a special funding request after
offering Chinese projects worth of 91 billion USD.
The increase
in bilateral relations helped strengthen China’ partnership with the
Association of Southeast Asian Nations. Indonesia and China have signed 23
memoranda of understandings on investment and trade cooperation.
The
cooperation contract includes the development of four economic corridors,
rapid train research and technology cooperation, and the development of
research of education./.
Thailand aims to attract more
foreign investment during COVID-19
To cope with
the adverse impact of COVID-19 on foreign investment, Thai Deputy Prime
Minister Dr. Somkid Jatusripitak, has assigned the Board of Investment (BOI)
to fine-tune its work by highlighting the strengths of the country to attract
more foreign investors.
The board
was urged to focus on agricultural business to help raise income distribution
in the local economy.
Deputy Prime
Minister Somkid said that the BOI will find ways to create strong points in
the country’s investment sector during the pandemic, which is expected to
have an impact on the global economy for one to two years.
They will
focus on the food industry, agriculture, processed food, medical services,
tourism, logistics and digital technology, in an effort to make Thailand the
investment center of the CLMTV (Cambodia, Laos, Myanmar, Thailand and
Vietnam) region.
Investment
in the agricultural sector will create jobs and incomes for both small and
new farmers. The BOI will use its mechanisms and develop investment packages
to support connectivity between the smart farmers’ group, local farmers and
universities to help raise income distribution in the local economy.
To raise
more funds from foreign investors in five years from now, the board has to
help produce more unicorn businesses in Thailand. A unicorn is a startup
company valued at more than 1 billion USD. This will enable the country to
advance from being just part of a supply chain for foreign entrepreneurs./.
Thai government approves 2021
budget bill
The Thai
government on June 16 approved a bill for the fiscal 2021
budget of 3.3 trillion THB (about 106 billion USD) which will be
submitted to the parliament, said spokeswoman of the government Narumon
Pinyosinwat.
She said
that the cabinet also agreed to establish a 64-member committee assigned to
scrutinise the budget bill.
Of the
members, 16 will be appointed by the cabinet while 27 will be members of the
parliament and 21 will come from opposition parties, Narumon said.
Under the
bill, the central fund in fiscal 2021 budget is set at 614.6 billion THB
while expenditure for state agencies is set at 1.13 trillion THB.
The budget
starting on October 1 will focus mainly on social and economic restructuring,
economic growth stability, income redistribution to remote areas, local
economy development, and income disparity reduction.
Thailand’s
economy contracted 1.8 percent in the first quarter of 2020 from a year
earlier. Its GDP shrank by 2.2 percent quarter-on-quarter in the period./.
Thailand to build 9,400-km
international undersea cable
Thailand’s
CAT Telecom is partnering with members of the Asia Direct Cable Consortium
(ADC) to build a 9,400-km international submarine cable to serve global
content providers in Digital Park Thailand, and provide advanced technologies
and 5G services in Southeast Asia.
Sanpachai
Huvanandana, president of CAT, revealed that the route will connect China
(Hong Kong Special Administrative Region and Guangdong province), Japan, the
Philippines, Singapore, Thailand and Vietnam. The consortium selected NEC
Corporation to construct the cable system.
It is
expected to be completed in 2022, he added.
The cable
system will be the main project to enhance CAT's international telecom
networks that support growing internet usage in Thailand. It will help
increase the capacity of telecom networks to serve the growing trends of
global communication and connectivity in the Association of Southeast Asian
Nations (ASEAN), he said./.
M&A deal top priority to
join industrial real estate sector: Gelex CEO
The top
priority for the Vietnam Electrical Equipment JSC (Gelex) this year is to
acquire the controlling stake in the industrial group Viglacera, chairman and
CEO Nguyen Van Tuan said on Thursday.
Gelex now
has a 5.54 per cent direct stake in the ceramic producer and real estate firm
Viglacera. It has another 19.43 per cent stake in the latter through the
member company Gelex Electric.
Gelex is planning
to raise its ownership in Viglacera to the controlling level of 51 per cent.
The Ministry of Construction is the biggest shareholder in Viglacera with a
38.85 per cent stake.
Viglacera is
listing 448.35 million shares on the Ho Chi Minh Stock Exchange.
The
acquisition is expected to be completed in the fourth quarter of 2020, the
Gelex CEO told the firm’s annual shareholder meeting.
“The deal
will allow Gelex to step into the industrial property sector as international
companies are forecast to move out of China into neighbouring countries,
including Viet Nam,” he said.
“The company
will catch the flow of foreign capital into industrial parks within the next
three years,” he said.
In 2020,
Gelex will acquire four industrial parks in southern provinces in the second
half of the year and Viglacera will be in charge of developing those parks,
Tuan said.
The
electrical equipment producer has purchased Long Son Industrial Park in Vung
Tau Province, the chairman said.
“Gelex will
build an ecosystem for the industrial parks, which includes low-priced
housing and warehouse leasing as well as providing clean water and
electricity.”
The company
maps out two earnings scenarios for 2020 with the Viglacera deal being
completed or not.
If the deal
is successful, total revenue will be VND19.6 trillion. On the other hand, if
the deal is unsuccessful, total revenue will be VND17.5 trillion.
Pre-tax
profits in the two scenario are forecast at VND975 billion and VND735
billion, respectively. The figures are down 12 per cent and 33 per cent
on-year.
Other
M&A targets in 2020 are Dong Anh Electrical Equipment Corporation and
copper rod and wire producer CFT Vina Copper.
Total
investment capital prepared for 2020 is VND4 trillion, half of which will be
spent on M&A activities. Funding for M&A deals comes from Gelex’s
divestment of the logistics division and Dong Nai Port.
Gelex also
plans to offload all of its shares in DAP Dinh Vu JSC in 2020 and launch an
IPO for its member firm Gelex Electric in 2022.
The company
has not planned a charter capital raise in 2020. The decision will be made
after the M&A deal with Viglacera is completed.
Gelex will
not pay dividend for 2019 and spend VND300 billion buying treasury shares.
Between April 23 and May 22, the company bought back 18.27 million shares.
In 2019,
total net revenue was VND15.3 trillion and pre-tax profit was VND1.1
trillion. The figures were 8 per cent and 20 per cent lower than full-year
targets.
Gelex shares
(HoSE: GEX) gained 1.5 per cent to trade at VND16,550 apiece on Thursday.
Viglacera shares (HoSE: VGC) jumped 4.5 per cent to trade at VND19,900
apiece./.
Many popular
shopping spots in HCM City have still attracted a modest number of tourists
despite being open for nearly two months following the long suspension due to
the Covid-19 pandemic.
According to
an owner of a cosmetic shop at Ben Thanh Market, her revenue dropped by
80-90% because of the Covid-19 pandemic. These days, the shop is often closed
at 3 pm instead of at 6-7 previously.
“Despite the
social distancing regulation ending, my shop has attracted a small number of
customers,” she added.
Lots of shop
owners at An Dong Market in District 5 are in the same situation. Dang Hung’s
clothes shop now does not hire any assistant to save costs; as his shop
revenue dropped by up to 90%.
Traders at
Ben Thanh and An Dong Market are struggling to cover the shop rental to wait
for the return of international visitors.
This month, HCM
City has rolled out tourism activities to lure domestic travellers, including
visits to revolutionary historical sites.
According to
the HCM City Department of Tourism, HCM City served 1.3 million tourists
during the first five months of this year, down 63.17% on-year, including
602,437 foreigners.
The city’s
tourism sector pulled in total revenue of VND27 trillion (USD1.17 billion),
down 52.1% on-year./.
Thailand approves large-scale
projects to spur economy
Thailand’s
Board of Investment (BoI) recently approved five large-scale projects with a
total investment value of 41.83 billion THB (1.34 billion USD) in an effort
to reactivate economic drivers after the country began easing lockdown
measures.
Local media
reported that BoI Secretary General Duangjai Asawachintachit announced the
move after a board meeting chaired by Prime Minister Prayut Chan-o-cha on
June 17.
On June 15,
Thai Deputy Prime Minister Somkid Jatusripitak urged the BoI to make tax
incentives and investment packages more attractive to foreign agri-businesses
to turn Thailand into an investment hub for CLMV (Cambodia, Laos, Myanmar and
Vietnam) countries.
The Thai
government wants to draw more investors as the COVID-19 pandemic may cause
them to consider changing their production bases, he said, adding that the
country also aims to stand out among Cambodia, Laos, Myanmar and Vietnam as
an investment destination.
The Thai
economy is said to be on way to enter recession after contracting 1.8 percent
in the first quarter, the sharpest decline since the fourth quarter of 2011
when the country was hit by floods.
The Bank of
Thailand recently forecast the economy may experience stronger contraction
than previous estimates. Earlier, it revised down this year’s growth
projection for Thailand from 2.8 percent to -5.3 percent due to the COVID-19
pandemic./.
Vietnam, China boost farm
produce trade
A Vietnam -
China teleconference on farm produce, fisheries, and food trade took place on
June 18.
The event
was co-hosted by the Ministry of Industry and Trade’s Vietnam Trade Promotion
Agency (VIETRADE) and the Council for the Promotion of International Trade of
Chongqing (CCPIT Chonqing).
Addressing
the teleconference, VIETRADE Deputy Director General Le Hoang Tai described
China as Vietnam’s largest market among more than 200 countries and
territories engaged in trade with Vietnam.
Vietnam has
close trade ties with many Chinese cities and provinces, including Chongqing
- one of the four centrally-run cities that is a significant trade partner.
VIETRADE, he
said, established a trade promotion office in Jiangbei district, Chongqing
city in 2015 to help Chinese enterprises seek long-term opportunities with
Vietnamese partners.
He invited
Chongqing businesses to join the Vietnam Foodexpo scheduled for November
18-21 in HCM City, where thousands of quality farm produce and food products
from prestigious Vietnamese companies will be available.
Tai hopes
that CCPIT Chongqing will work closely with VIETRADE to diversify trade and
exchanges between the two sides.
An official
from CCPIT Chongqing committed to creating favourable conditions for
Vietnamese companies to do business in the city.
Following
the teleconference, Vietnamese and Chinese companies joined online trade
sessions to share information and seek business opportunities, which will
last until June 19.
According to
the General Department of Vietnam Customs, annual two-way trade between
Vietnam and China surpassed 100 billion USD during the past two years. The
figure hit 44.35 billion USD in the first five months of this year, up nearly
2 percent year-on-year.
Vietnam’s
exports to China topped 15.9 billion USD, up 17.4 percent, while imports hit
28.3 billion USD, down over 5 percent./.
Indonesia’s public debts
swell due to COVID-19
The
Indonesian Ministry of Finance said on June 17 the country’s total public
debts hit over 5.2 quadrillion rupiah (5 billion USD) as of May, much higher
than the previous month and the same period last year.
Finance
Minister Sri Mulyani Indrawati attributed the swelling debt to the
Government’s expenditure to fund the national economic recovery programme in
the context of the COVID-19 pandemic.
The public
debts in May were mostly government securities with more than 4.44 quadrillion
rupiah and other debts.
The minister
said public debts accounted for 32.09 percent of the gross domestic product
(GDP) as of the late May, which remain safe in accordance with the Finance
Law that allows a maximum 60 percent of the GDP./.
Ba Ria – Vung Tau to develop
modern seaports, logistics services
A workshop
was held in the southern province of Ba Ria – Vung Tau on June 18 to seek
ways to develop seaports and logistics services, which are important
components of the local economy.
Secretary of
the provincial Party Committee Nguyen Hong Linh said from now to 2025, Ba Ria
– Vung Tau is going to focus resources on developing modern seaports and
related logistics services.
It will
reserve 20 trillion VND (859.6 million USD) for investing in transport infrastructure
linking seaports and regions, along with 2,000ha of land for developing the
logistics system and a modern goods certification centre during the period.
The province
will also select capable investors to develop seaport logistics services, set
up a management board of the Cai Mep – Thi Vai port complex to create the
best possible conditions for businesses and shipping firms when using the
port system, and develop this complex into an export and import gateway of
the southern key economic region, Linh noted.
Chairman of
the provincial People’s Committee Nguyen Van Tho said seaport and logistics
services are defined as important components of the local economy, adding
that Ba Ria – Vung Tau has worked with relevant ministries and sectors to
carry out numerous solutions to boost investment in the services and reaped
practical outcomes.
He cited
statistics as showing that the volume of cargo transported by sea and handled
in the province has increased by 10 percent between 2016 and 2020. In
particular, container freight delivered by vessels has grown by over 20
percent annually.
At the
workshop, Deputy Minister of Transport Nguyen Van Cong said the ministry is
considering the allocation of medium-term capital to dredging the Cai Mep –
Thi Vai marine passage.
He asked Ba
Ria – Vung Tau to accelerate the progress of Ben Luc – Long Thanh Expressway
project, as well as the construction of roads connecting the Cai Mep – Thi
Vai port complex with Phuoc An bridge, Ben Luc – Long Thanh Expressway and
Bien Hoa city in nearby Dong Nai province to boost demand for goods
transportation via the complex.
Cong also
suggested the province attract more big investors to create more export
sources and build logistics zones before putting ports into operation.
The Cai Mep
– Thi Vai port complex was the one posting the world’s fastest growth in 2017
and also among the 21 ports around the world able to handle vessels of up to
200,000 tonnes.
Of the 69
port projects planned in Ba Ria – Vung Tau, 48 have become operational, and
they are able to deal with 141.5 million tonnes of cargo each year.
Meanwhile, 2,312ha of land has been zoned off for developing logistics
facilities, with 20 projects covering 224ha already put into use./.
Indonesia outlines export
facilitation strategy
Indonesian
Trade Minister Agus Suparmanto said that the country has outlined a strategy
to facilitate exports, which have strongly dropped in recent times.
Data from
the country’s central statistics agency shows that exports reached only 10.53
billion USD in May, down 13.4 percent month-on-month and 28.95 percent
year-on-year.
The minister
said the Government needs to allow companies to access raw materials for
production and export as well as assist small and medium-sized enterprises in
increasing their output and quality and especially in utilising e-commerce.
He added
that the ministry will lift a ban on export of several raw materials and
medical supplies, such as face masks and personal protective suits.
Indonesia
will also launch a drive to popularise domestically-made products, he said,
and will closely control imports to protect domestic production./.
Techcombank to issue 4.7mn
shares to employees
The Vietnam
Technological and Commercial Joint Stock Bank (Techcombank) plans to issue
4.7 million shares to current employees under its employee stock ownership
plan (ESOP), at a price of 10,000 VND (0.43 USD) per share.
The bonus
shares account for 0.14 percent of the bank’s total at present.
Expected to
take place in the third or fourth quarter of this year, the issuance will
raise the bank’s charter capital by nearly 48 billion VND (2.07 million USD)
to close to 35.05 trillion VND (1.51 billion USD).
The move
aims to help Techcombank attract, motivate, and retain talented employees in
the long term.
It will be
reviewed at its annual general meeting, scheduled for June 20 in Hanoi.
The bank
targets credit growth of 13 percent or higher year-on-year in 2020 and asset
growth of 12 percent. The non-performing loan ratio is to remain under 3
percent.
It also
plans to increase revenue by 1 percent to 13 trillion VND./.
UK webinar on post-pandemic
investment opportunities in Vietnam
The UK’s
Asia Scotland Institute held a webinar on June 18, focusing on Vietnam’s
achievements in COVID-19 response as well as post-pandemic business and
investment opportunities in the country.
With
Vietnamese Ambassador to the UK Tran Ngoc An, several Vietnamese experts and
investors being its speakers, the webinar attracted the participation of
around 70 audiences who are individual investors, and representatives from
several universities, investment funds and enterprises in Scotland and
northern Britain.
During the
event, participants showed their interest in Vietnam’s experience in the
COVID-19 fight, its economic situation and policies in post-pandemic economic
development and recovery, as well as investment and cooperation opportunities
between Vietnam and the UK in general and Scotland in particular.
They were
impressed by information about Vietnam’s achievements in disease response,
when it has so far reported over 340 coronavirus-positive cases and no
fatalities, although it has a population of over 97 million and holds a long
border line with China – the first outbreak.
Ambassador
An said that the COVID-19 pandemic has caused an negative impact on Vietnam’s
economic growth targets, but the country is still considered one of the most
positively growing economies in the region, with strong recovery to a growth
rate of at least 6.8 percent in 2021.
He added
that the webinar is one of activities the embassy has coordinated with
agencies and organisations in the UK to boost collaboration between the two
countries to address negative impacts of the pandemic, especially in 2020
when they are celebrating the 10th anniversary of their strategic
partnership./.
Bạc Liêu Province focuses on
becoming shrimp production hub
A project to
reform shrimp farming is yielding positive results for Bạc Liêu Province,
paving the way for it to become the country's shrimp industry hub, Dương
Thành Trung, chairman of its People's Committee, said.
Super
intensive shrimp farming and modern technologies are being adopted, and
several districts are focusing on the shrimp-rice farming model.
Over 70 per
cent of infrastructure for a hi-tech agriculture zone for shrimp project has
been completed, and construction of the zone is expected to begin soon.
The province
targets production of more than 200,000 tonnes of the crustacean this year,
or 48,000 tonnes more than in 2019.
It also
targets reaching US$1 billion worth of shrimp exports before 2025.
Bạc Liêu is
the Mekong Delta's leading province in terms of shrimp production, and
accounts for 20 per cent of the country's output.
It has
numerous companies and households farming white-leg shrimps under the super
intensive model, and facilities for farming other types of shrimps and
producing fish fry and feed./.
Can Tho to seek private
investment for nurseries for IP workers' children
The Mekong
Delta city of Can Tho will issue more preferential policies
for investors to set up private nurseries in the city’s industrial parks and
processing export zones, according to the municipal People’s Committee.
Speaking at
a recent conference on the national project on nurseries at
industrial parks and processing export zones, Vo Thi Hong Anh, the
committee’s vice chairwoman and head of the Steering Board of the project in
Can Tho, said that female workers with children ageing 6 months and
above have to send their children to nurseries and kindergartens when they
resume working after six months of maternity leave.
The
nurseries and kindergartens must have professionally trained
staff and facilities that ensure safety for children, Anh said.
Agencies in
the city should offer more solutions to attract private
investment in safe nurseries and kindergartens to meet female workers’
demands, she added.
Noting that
the city plans to establish Singapore Industrial Park in Thot Not
District, she said the district should set up health facilities and
nurseries or kindergartens to create conditions for workers’ children to be
taken care of. This will also attract workers to the IP.
She
instructed the city Department of Education and Training to provide more
preferential policies to attract private investment
to build nurseries in IPs and processing export zones.
The city
could give investors priority in tariff exemptions and
reductions, assistance for loans, and land lease, she said.
Can Tho has
four industrial parks and processing export zones with 5,176 workers
with children under 36 months old.
The total
number of kindergartens in the industrial parks and processing
export zones is 10. Six out of the 10 meet national standards. There are
29 nurseries.
The total
number of children taken care of at the kindergartens and nurseries is 3,929.
Local
authorities and relevant agencies check the nurseries frequently.
Inspections have shown that their classrooms and toilets for children
are clean. Investors have spent 519 million VND (22,285 USD) on
upgrading their nurseries’ facilities.
The
Department of Education and Training has suggested that the city
People’s Council provide assistance of more than 1.2 billion VND to
buy teaching aids and toys for children.
The conference’s
delegates said the project had helped workers feel more secure about
their children's safety./.
Developing industrial
infrastructure critical to catching FDI flow: Confab
Vietnam
needs to focus on developing the infrastructure system of industrial zones (IZs)
to draw clean and quality foreign direct investment (FDI) in the
context of the global production shift, heard a conference on June 19 in
Hanoi.
Speaking at
the second Industrial Real Estate Forum, Tran Thi Hong Minh, Director of the
Central Institute for Economic Management (CIEM), said Vietnam had
significant opportunities to attract quality FDI, given the Government’s
success in containing the COVID-19 pandemic and efforts to recover economic
growth post-pandemic.
In a more
uncertain global economy after the pandemic, foreign investors would be more
cautious in selecting destinations for their investments and would wish to
diversify investment destinations.
Minh said
the development of industrial property must contribute to promoting green
growth and corporate responsibility, adding that nowhere was more
advantageous than IZs to test the circular economy.
Investment
in IZs must also take into account labour issues and social
security, she said. The efficiency of IZs should not only be evaluated based
on the occupancy rate, export scale and contribution to the State budget but
also links among them.
According to
Tran Quoc Trung, Deputy Director of the Economic Zones Management Department
under the Ministry of Planning and Investment, the development of IZs must
promote local strengths and regional links.
A system of
core IZs must be formed to lead the development of major industries, Trung
said.
The focus
would also be placed on improving the efficiency of IZs, encouraging modern
and environmentally-friendly technologies and diversifying investment
co-operation models in developing IZs’ infrastructure system, he said, adding
that private investment was encouraged.
It was also
important to develop new-generation IZs, such as eco-industrial parks, supporting
IZs, sectorial-specialised IZs and industrial and urban and service
complexes.
The Ministry
of Planning and Investment’ statistics showed that as of the end of May,
there were 561 IZs nationwide with a total area of 201,000 hectares (or 0.6
percent of the country’s total area). Of them, 374 were operational.
According to
real estate service firm Savills Vietnam, a wave of investors would land on
Vietnam in the context of a global production shift, hiking demand for
industrial land.
High-end
residential and office segments would also benefit, Savills forecast.
However,
limited industrial land supply and shortage in the labour force remained
problems./.
Không có nhận xét nào:
Đăng nhận xét