VIETNAM BUSINESS NEWS FEBRUARY 8
09:29
Fruit exports to China cleared earlier than expected
Viet Nam’s
fruit container trucks have been allowed custom clearance through China
earlier than expected despite China's original plan to cease custom clearance
for a week for the Lunar New Year holiday. A Viet Nam
Fruit and Vegetable Association spokesperson said on January 5 that this was
“good news for Viet Nam’s fruit and vegetable export [for the start of the 2022
Lunar New Year.]” In January
China had announced that it would stop customs clearance of goods at the
bordering Lang Son Province for the holiday from January 31 to February 6. However, two
of three of the province’s border gates to China resumed custom clearance on
February 3, with 115 containers exporting fruit cleared that day. China is
Viet Nam’s largest buyer of fruits and vegetables, accounting for 53.7 per
cent of Viet Nam’s export in 2021. However, exports to the country have been
falling over the last two years. The country has been enforcing stricter
regulations on agricultural produce imports in recent years. First locally-made tablets roll off production line in Da Nang The first
locally-made Xelex tablets have rolled off the production lines of the Trung
Nam Electronic Manufacturing Services in Da Nang's IT Park, just two months
after an agreement for the production of 100,000 tablets between Trung Nam
Group and Xelex Corporation was signed. The
introduction of the made-in-Da Nang tablets, which will provide for online
education programmes of school students, will spark the operation of
electronic production lines from five factories at the IT Park in February
and promises an estimated revenue of 5 trillion VND (217 million USD) for Da
Nang in 2022. Deputy
General Director of Trung Nam Group Nguyen Ngoc Thao said at the ceremony
introducing the first tablets on February 7 that the group will put into
operation the first two plants with 20 surface-mount technology (SMT) lines,
creating 2,000 jobs in March, while three other plants will be reserved to
attract investment in electronics and telecommunications.. He added the
first phase construction on the 20ha Data centre and R&D Zone, in
partnership with Singapore’s Infracrowd Capital, will begin to complete the
framework of Da Nang IT Park. Number of HCMC-based firms resuming operations skyrockets 500% HCMC has
seen signs of strong economic recovery at the beginning of 2022, with the
number of firms resuming operations in January rocketing by nearly 500%
month-on-month. January saw
4,850 enterprises restart business, soaring by 36.3% year-on-year, according
to the municipal government. In addition,
in January, over 3,190 companies in HCMC were established, up 24.6%
year-on-year, while the city saw a mere 382 firms complete procedures for
disbandment, down 7.7% year-on-year and 27.2% month-on-month. Many
enterprises made positive moves in January. For example, the Saigon Hi-Tech
Park reported a production value of over US$1.65 billion and export value of
more than US$1.5 billion, both up 5% year-on-year. Besides, a
brighter picture of HCMC after the Covid pandemic was brought under control
also showed that the city’s January agro-forestry-fishery production value
inched up 1.5% year-on-year. The city’s
total retail sales of goods and services in January amounted to VND73
trillion, up 5.1% month-on-month, while tourism revenue reached over VND7
trillion, up 6.4% month-on-month. HCMC’s
budget revenue enjoyed a year-on-year increase of 19.4% in January, amounting
to VND47.8 trillion. In February,
the city will adopt various solutions to “safely and flexibly adapt to and
effectively control Covid-19, continue to improve the quality of urban
governance and investment environment and support enterprises.” Quang Ninh, Dak Lak see positive signs in tourism recovery The northern
province of Quang Ninh welcomed over 300,000 visitors to its tourist sites in
the six-day Lunar New Year (Tet) holiday from January 31 to February 5,
earning around 400 billion VND (17.6 million USD). The
provincial Department of Tourism has set a target of serving over 9.5 million
visitors, including over 1.4 million foreigners, and earning about 19
trillion VND from tourism services in 2022. In the first
half of this year, Quang Ninh will reduce 50 percent of entrance fees to its
famous local destinations such as Ha Long Bay, Yen Tu relic site, and Quang
Ninh Museum. Also seeing
a positive signal, the Central Highlands province of Dak Lak served over
143,000 visitors, including 260 foreigners, and earned 8.46 billion VND
during Tet, respective year-on-year rises of 51.5 percent and 43.6 percent. Reference exchange rate up 9 VND The State
Bank of Vietnam set the daily reference exchange rate for the US dollar at
23,090 VND/USD on February 8, up 9 VND from the previous day. With the
current trading band of +/-3 percent, the ceiling rate applicable for
commercial banks during the day is 23,782 VND/USD and the floor rate 22,397
VND/USD. The
opening-hour rates at commercial banks stayed stable. At 8:25am,
Vietcombank listed the buying rate at 22,500 VND/USD and the selling rate
22,810 VND/USD, unchanged from February 7. BIDV also
kept its both rates unchanged at 22,530 VND/USD (buying) and 22,810 VND/USD
(selling). Vietnam Airlines Group adds nearly 200 flights after Tet holiday The Vietnam
Airlines Group has planned to arrange nearly 200 more flights from February 7
to 10 so as to meet passengers’ rising demand for travel to the southern
region following the end of the Tet (Lunar New Year) holiday, with approval
of the Civil Aviation Authority of Vietnam (CAAV). The flights
will be on 14 busiest domestic routes, particularly between HCM City and
Hanoi, Da Nang and Hai Phong, among others. Passengers
can purchase air tickets at websites, mobile apps and ticket offices
nationwide of member carriers of Vietnam Airlines Group, comprising Vietnam
Airlines, Pacific Airlines, and VASCO. They are
advised to make health declarations on PC-COVID app before reaching the
airport to save time. It is the
latest flight adjustment during this year’s Tet by Vietnam Airlines Group. In
late December 2021, the group announced to increase flight frequency on many
routes, with a daily average of 300 flights per leg. The number
of seats was also raised by 120 percent to serve the Lunar New Year peak,
which falls in late January and early February. Hoa Phat group to export 35,000 tonnes of HRC to Europe Steel maker
Hoa Phat Group announced that its subsidiary Hoa Phat Dung Quat Steel Joint
Stock Company has signed a contract to export the first batch of 35,000
tonnes of hot rolled coil (HRC) steel to Italy. The first
order of the year to Europe opens up a large consumption market for the Hoa
Phat Group's products. According to
Tran Ngoc An, deputy head of the company’s sales department, the shipment is
expected to be delivered between February 15 and 20. Hoa Phat's
annual steel production capacity reaches about 14 million tonnes, including
8.6 million tonnes of HRC when the complex becomes operational. FDI enterprises in Binh Duong resume production after long Tet
holiday Workers are
returning to factories in the southern province of Binh Duong as firms gather
pace to bring production back to normal after the nine-day Tet (Lunar New
Year) festival, the country’s biggest and longest holiday. President of
VSIP’s trade union Dang Thi Kim Chi said 315 enterprises at VSIPs have
resumed operations after the New Year holiday, many of which had capacity
reaching nearly 100 percent. It marked the start of a better year for local
companies with the virus kept at bay, she said. The
industrial province is now classified as a “green” or low-risk zone in terms
of COVID-19 infection. This year,
Binh Duong expects to achieve a Gross Regional Domestic Product (GRDP) growth
of 8 – 8.3 percent. The Industrial Production Index is projected to expand
8.9 percent compared to 2021. It also aims to raise total social investment
by 10 percent year-on-year to make it account for 33.3 percent of the GRDP.
FDI flows into the province is hoped to exceed 1.8 billion USD. Bright prospects ahead for farm exports to EU in 2022 Vietnamese
export of key agricultural products such as coffee, cashew nuts, rubber,
fruit and vegetables, and rice to the EU market is set to enjoy strong growth
in 2022, according to industry experts. The Ministry
of Industry and Trade forecasts that coffee, cashew nuts, rubber, fruit and
vegetables, pepper, rice, and tea will all continue to be major contributors
to the total export turnover of agricultural products to this market and will
grow strongly in the year ahead. As the
number one product, coffee will continue to take advantage of the 0% tax rate
under the Vietnam - EU Free Trade Agreement (EVFTA) as it increases its
market share as part of the EU’s total import of US$10 billion annually. Moreover,
investors in the bloc are also in the process of considering moving their
processing plants to the nation to take advantage of cheap raw materials and
labour, thereby creating a driving force to bolster pepper exports to the EU. With rice,
according to the Vietnam Food Association (VFA), local rice exports to the EU
market this year are forecast to reach at least 60,000 tonnes because the
quality of Vietnamese rice has changed in the eyes of the EU importers. With
Vietnamese rice already having a number of traditional customers in Germany,
the Netherlands, Italy, and Poland, local rice exports to the bloc in the
year ahead are anticipated to maintain their strong growth. Viet Nam salt industry must adapt: official The country
is home to 72 salt production and processing units, including production and
business households, cooperatives and enterprises. However, most are small
scale with insufficient capital and production capacity. According to
a report by MARD, Viet Nam's salt production area in 2021 reached 11,393ha,
lower than the 11,926ha, 12,494ha and 13,074ha seen in 2020, 2019 and 2018,
respectively. The
decreasing area of salt production was attributed to low income from salt
production so salt farmers gradually converted inefficient production areas
to aquaculture or switched to other occupations, resulting in several salt
production areas being abandoned. Last year,
the country's salt output hit nearly 915,000 tonnes, far lower than the
record of more than 1.33 million tonnes seen in 2020. Viet Nam
will study and pilot combining salt production and tourism to promote the
sustainable development of the industry, according to the Government’s
recently-approved salt industry development project for 2021-30. Viet Nam
will combine salt production with tourism at several villages, including Thuy
Hai (Thai Binh Province), Bach Long (Nam Dinh), Ho Do, Ky Ha-Ky Anh (Ha
Tinh), Sa Huynh (Quang Ngai), Hon Khoi (Khanh Hoa) and Can Gio (HCM City). VN-Index inches closer to 1,500 points after Tet holidays The market
inched higher on Monday as risk appetite improved after the Lunar New Year
holiday. On the Ho
Chi Minh Stock Exchange (HoSE), the VN-Index climbed 18.7 points, or 1.26 per
cent, to 1,497.66 points, heading toward the 1,500 point-level. The benchmark's
rally was mainly driven by gains in large-cap stocks across sectors on
bullish sentiment. The VN30-Index, tracking 30 biggest stocks on HoSE, rose
9.01 points, or 0.59 per cent, to 1,541.25 points. Of the VN30
basket, 23 stocks increased with one hitting the biggest intraday gain of 7
per cent, while five slid and two stayed unchanged. On the Ha
Noi Stock Exchange (HNX), the HNX-Index also edged up 2.6 points, or 0.62 per
cent, to 419.22 points. During the
session, 54.9 million shares were traded on the northern bourse, worth VND1.5
trillion. Foreign
investors continued to flock to the market after they net bought a total of
VND332.57 billion. Of which, they net bought a value of VND304.54 billion on
HoSE, and a value of VND28.03 billion on HNX. More than 100 Hanoi-HCM City flights added The Civil
Aviation Authority of Vietnam (CAAV) has asked local airlines to increase
flights on Hanoi - HCM City route, especially during night time to serve a
large number of passengers. According to
CAAV, the number of passengers departing from Noi Bai Airport on the peak day
of Lunar New Year or Tet holiday 2022 doubled that of Tet 2021 with over
29,000 passengers on 383 flights. On February
6, Noi Bai Airport served a total of 372 flights with 56,000 passengers. CAAV
has asked local airlines to add more than 100 flights between February 6-12,
mainly on the Hanoi-HCM City route to serve the high demand. Earlier,
local airlines planned to conduct over 13,400 flights during the Tet holiday
between January 23 to February 16 which was an increase of 109% against last
Tet holiday. Industry trio signs MoU to boost clean energy in Vietnam PetroVietnam
Power Corporation (PV Power), IB Global, and IDG Capital Vietnam signed an
MoU on January 28 to boost clean energy development amid an ever-increasing
demand. The three
parties wish to form a strategic partnership between PV Power and IDG’s
Vietnam Clean Energy Fund, with IB Global acting as a strategic advisor to
the fund. IDG will close the fundraising by the end of 2022. The IDG Vietnam
Clean Energy Fund is scheduled to raise $300 million equity capital and $1
billion total capital for Vietnam's clean and green energy sector in the next
three years. Petrolimex reports over VND2.8t of net profit in 2021 The Vietnam
National Petroleum Group (Petrolimex/PLX) announced that its consolidated net
profit in 2021 reached VND2.83 trillion, up three times year-on-year. In the last
quarter of last year, the parent company reported VND455 billion of profit
after tax, declining 67% versus the year-ago figure. Its volume of petroleum
sold in the period was equal to 90% of the previous year’s period due to the
impact of the Covid-19 pandemic. The pandemic also slashed the Group’s
earnings from non-petroleum business activities. Vietnam jumps 28 places in COVID-19 Recovery Index
Vietnam
jumped 28 places to the 90th in the January edition of Nikkei’s COVID-19
Recovery Index, thanks to a world-leading vaccination rate and signs of its
tourism industry reopening. The Ministry
of Culture, Sports and Tourism has also proposed that, from March 31, Vietnam
fully open up to international tourism, with inbound and outbound tourists
welcomed at all international border gates./. Property investors will face heavy fine for illegal mobilization According to
the Government’s Decree 16/2022/ND-CP stipulating penalties for
administrative violations in construction including the level of fines for
violations of regulations on real estate business. The Decree
stipulates that investors of real estate projects who raise capital in
contravention of regulations will be fined up to VND1 billion. The Decree
also stipulates a fine of between VND100 million-VND120 million (US$4,424 -
US$5,309) for one of the following acts real estate business without
establishing enterprises or cooperatives according to regulations, failing to
disclose or incompletely or improperly disclose the contents of real estate
projects or housing construction investment projects according to
regulations, the real estate business contract is not made in writing or the
real estate business contract is not complete with the main contents as
prescribed or in contravention of the law, failing to provide information on
construction investment progress or the use of advance payments upon request. Investors
will face a financial penalty ranging from VND100 to VND120 million not
allowing the purchaser, the lessee to inspect the actual construction
progress and quality of the work as prescribed or collect fees related to
real estate transfer in contravention of regulations. A fine of
between VND 120-160 million shall be imposed on an investor or owner of a
house or an apartment building who fails to comply with the regulation. They
sign a contract for sale and purchase or lease-purchase of a house or
construction work without attaching the right to use the land with such
houses or constructions or intentionally notifying the buyer of restrictions
on ownership of houses and constructions. UNDP announces new country program worth US$121M for Vietnam UNDP
Executive Board has approved the new country program document (CPD) worth
US$121 million for Vietnam for the 2022-2026 period. The CPD aims
to support the government in accelerating the achievement of the UN Sustainable
Development Goals (SDGs), guided by the UNDP Strategic Plan’s three outcomes,
including Shared prosperity through sustainable economic transformation;
Climate change, disaster resilience and environmental sustainability; and
Governance and access to justice. In this
context and based on the Independent Country Program Evaluation (ICPE) for
the 2017-2021 period, UNDP will provide thought leadership on issues core to
the achievement of the SDGs, Paris Agreement and human development. It’s based
on a jointly developed theory of change underpinning the United Nations
Sustainable Development Cooperation Framework (UNSDCF), which contributes to
Vietnam’s Socio-Economic Development Strategy (2021-2030) and Socio-Economic
Development Plan (2021-2025).  Source:
VNA/VNN/VOV/SGT/SGGP/VIR/VNS/Hanoitimes |
Không có nhận xét nào:
Đăng nhận xét