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BUSINESS IN BRIEF 26/1
Dung Quat refinery expansion unveiled
The Dung Quat Economic Zone Authority (DEZA) and the Binh Son
Oil Refinery Co. Ltd on January 23 unveiled a plan to upgrade and expand the
Dung Quat Oil Refinery in the central
The Binh Son Company received the investment approval for the
project last month.
The 1.82 billion USD project, invested by the Vietnam National
Oil and Gas Group, will increase the plant’s annual capacity from 6.5 million
tonnes of products to 8.5 million tonnes.
The expanded refinery will cover more than 300 hectares,
including 108 hectares of land and 196 hectares of water surface in Binh Tri
and Binh Thuan communes, Binh Son district. The work is scheduled to be
completed by 2022.
Vice Chairman of the provincial People’s Committee and Head of
the DEZA Pham Nhu So said the authority is entering the third phase of
construction for the Tay Bac Van Tuong (Northwest Van Tuong) resettlement
area, which will accommodate 341 households with 1,247 people relocated for
the project.
Dung Quat and its smaller counterpart Cat Lai in
Bank credit swells in two largest cities
Growing demand is expected to significantly boost commercial
banks' credit for January, based on information from banks in the country's
two largest cities
The HCM City Statistics Office reported that the city's
lending in January has risen by 11 percent, against the same period last
year, and is up 1.9 percent from last month to 1,057 trillion VND (49.39
billion USD).
During this month, lending for the Vietnamese dong contributed
to a growth of 9.9 percent against the same period last year, while lending
in US dollars increased by 16.9 percent.
Medium and long-term outstanding loans accounted for more than
a half of the city's total loans, up 2.3 percent from the same period last
year.
Deposits at commercial banks in
Deposits in US dollars accounted for 15.6 percent of the
city's total deposits, up 7.6 percent against the same period last year,
while deposits for dong jumped 11 percent.
The Hanoi Statistics Office also reported that the city's
deposits in January grew by 1.1 percent month-on-month to 1,204 trillion VND
(56.26 billion USD), while the city's lending rose by 0.7 percent to 1,017
trillion VND (47.52 billion USD).
Multiple kinds of Vietnamese fruits and flowers will be
exported to foreign countries this year, including selective markets,
according to the Plant Protection Department under the Ministry of
Agriculture and Rural Development.
Nguyen Huu Dat, director of the
The
Many other countries are opening doors to Vietnamese fruits.
Specifically, Australian authorities have inspected irradiation plants in
Last year, the first batch of Vietnamese dragon fruit went to
Domestic enterprises are completing procedures to sell mango
to
Nguyen Xuan Hong, head of the Plant Protection Department,
said the agency is seeking licenses for exports of rose, carnation,
chrysanthemum and other flowers to
First Lexus dealership in
The first Lexus dealership in
Lexus Thang Long covering 9,000 square meters in Nam Tu Liem
District has an initial investment of VND160 billion and comprises of a
1,400-square-meter workshop for repair and maintenance services.
Le Hong Thai, chairman of Lexus Thang Long, said the facility
meets the global standards of Lexus for sales, services and spare parts.
The Lexus brand in
Lexus Vietnam has sold 385 cars, with 45% of them in the
northern region, 45% in the southern region, and the remaining 10% in the
central region.
Lexus Thang Long now distributes the newest Lexus versions of
LS 460L, GS 350, ES 350, LX 570, RX 350 and GX 460.
According to Lexus Vietnam, more than 100 customers are
waiting for their orders to be fulfilled before the Lunar New Year Holiday,
better known as Tet in the country.
Vinatex prepares material sources for subsidiaries
Vietnam National Textile and Garment Group (Vinatex) has
invested in many projects to produce materials for its apparel subsidiaries
in preparation for capitalizing on the opportunities that will come when the
Trans-Pacific Partnership (TPP) agreement is signed.
Vinatex general director Le Tien Truong told a media briefing
over the weekend that the group is spending heavily on fiber and dyeing
projects that will supply its subsidiaries.
The investments, funded by Vinatex and its partners, will
enable the group to meet strict requirements for origins of products thanks
to the localization of the whole production process from fiber to finished
products.
“Fabrics produced by Vinatex will not be for sale on the
market but for its affiliates. Therefore, we do not have any plan to sell it
on the market,” Truong said.
Since last year, Vinatex has invested in 51 projects worth a
combined VND8 trillion (US$375.7 million), including 14 fiber projects, 15
weaving projects, 15 garment projects and seven related projects for
infrastructure development and staff training.
These projects will help improve the group’s fabric output to
300 million meters from the current 200 million meters, meeting 50-60% of the
demand of the group’s subsidiaries for input material when they are
commissioned.
Truong said the projects will not be completed until 2016.
Viet Tien Garment Company alone will need some 100 million meters of cloth a
year.
Vinatex’s export revenue stood at US$3.26 billion last year,
rising 12% against 2013 while its import turnover rose 5% to VND1.28 billion.
Last year, exports of the local apparel industry exceeded
US$24.4 billion, a year-on-year increase of 15.9%. The sector spent US$15.8
billion importing materials, up 16% over the previous year.
The materials included 743,000 tons of cotton worth US$1.4
billion, surging 28% year-on-year, 745,000 tons of fiber with US$1.6 million,
rising 7% in volume and 3% in value respectively, US$9.5 billion worth of
fabrics, up 14%, and other materials costing US$4.7 billion, soaring 25%.
Vinatex to make more materials to reduce use of imports
The Vietnam National Textile and Garment Group (Vinatex) will
invest most of its capital in material production projects in a move to
reduce dependence on imports.
Vinatex General Director Le Tien Truong has said that Vinatex
is investing in 51 projects, 29 of which are of yarn and knitting production.
This year, Vinatex is set to produce more than 100 million
metres of clothing, which is expected to increase to 300 million metres in
2016, when a number of new yarn and knitting production projects will become
operational.
Earlier, Vinatex had to import roughly 37 percent of its
materials required for production.
Truong said after equitisation, Vinatex will operate as a
joint-stock company from February 1, and the firm will offer shares in 2017.
The textile and garment sector is expected to benefit from
several free-trade agreements (FTAs) that are likely to take effect, and it
aims to export goods worth 28 billion USD to 28.5 billion USD in 2015.
Owing to the advantages accruing from the FTAs, the textile
industry could double production in 10 years. However, textile enterprises
need to be well-prepared to seize the opportunity, especially to increase the
domestic material production.
In addition to the 12-nation Trans-Pacific Partnership (TPP)
agreement, which includes the United States and Japan, Vietnam has either
signed or in the final stages of negotiations for the FTA with the European
Union, the Republic of Korea and the Customs Union of Belarus, Kazakhstan and
Russia.
The
Lessons learnt by the RoK during their implementation will be
used to improve upon
Dr. Bui Quang Binh from the
Meanwhile, Professor Dr. Seungkwon Jang from the RoK’s
The majority of the production facilities are small-scale
without efficient connections to the tourism and service sectors, he
contended.
Assistant Professor Dr. Sangsun Bak from
He suggested that
During the conference, Vietnamese and RoK specialists also
discussed a number of examples of effective implementation of the model in
both countries, including the RoK’s Jeju eco-tourism area and Buljeong
agriculture co-operative, as well as
Vietnamese businesses operating in the fields of garment, farm
produce and food, are interested in expanding their network in
Son made the statement at a working session with Moscow
Governor Andrey Vorobiov on measures to boost economic, trade and investment
ties between the two countries’ localities on January 20.
During the session, the two sides agreed to speed up technical
negotiations for the early establishment of the zone.
According to the Vietnamese ambassador, the dairy producer TH
True Milk plans to invest about 1 billion USD in animal feed, dairy cow
breeding and milk production in
On the occasion, Son invited to Andrey visit
The honours were bestowed to groups operating across tourism,
trade, services, manufacturing, transport, and banking industries.
Speaking at the event, Vice Chairwoman of the Ho Chi Minh City
People’s Committee Nguyen Thi Hong lauded these businesses for building
prestigious brands, improving consumer’s awareness and shopping habits.
The annual award, determined by the customer vote nationwide,
aims to encourage enterprises to develop high-quality brands and enhance the
competitiveness of Vietnamese goods in both domestic and foreign markets,
especially as the country further integrates into the international economy.
Many of the winners have received recognition over several
consecutive years including Saigontourist, AIG Insurance , Saigon Co-op, Big
C, Vinasun and Saigon Petro.
Food production in the
Dak Lak led the five egional provinces with nearly 1.24
million tonnes, followed by Gia Lai with 568,000 tonnes.
The results were attributed to a number of measures taken by
the provinces, such as the enlargement of cultivation areas to over 238,000
hectares and investment in 2,000 water resource constructions.
In addition, farmers brought hybrid and certified rice
varieties such as ML48, OM900, CT16 and HT1 into mass production, helping to
generate high yields.
A number of workshops were organised to introduce new hybrid
rice and corn varieties, cultivation techniques, and pilot large-scale field
models as well as to connect farmers, businesses, scientists, and managers.
Thanks to these efforts, the region has not only ensured food
security but also produced enough to export and sell to other provinces, thus
increasing the farmers’ income and improving the quality of their life.
Local farmers are currently planting winter-spring crops and
upgrading water resource systems serving the cultivation of rice and farm
produce to further increase productivity.
Thua Thien
The central
In order to fulfil the targets, the provincial Industrial Park
Management Board said that it would continue reforming investment promotion
activities and administrative procedures as well as improving infrastructure
in the industrial parks including transport infrastructure, water and power
supply and telecommunications.
At the same time, the Board will also support investors via
incentives such as preferential land rent and tax rates as well as assistance
in land clearance and human resource training.
Thua Thien Hue is home to six industrial parks, which
attracted a combined investment capital of 2,250 billion VND (107 million
USD) last year through 10 new projects and 9 existing ones.
All industrial parks in the province until now have 92 valid
projects, of which 70 projects are from local investors, with a combined
capital of 19,587 billion VND (932 million USD).
Disbursement has reached 7,397 billion (352 million USD) or 38
percent of the total registered capital.
Enterprises in the parks posted a total production value of
9,930 billion VND or 472.8 million USD in 2014, up 16 percent against last
year, and a combined export value of 418.4 million USD. They contributed 1,455
billion VND (69 million USD) to the State budget.
Last year, the industrial parks generated 1,100 new jobs,
bringing the total workers working at the parks to 17,048.
According to the provincial Industrial Park Management Board,
the Prime Minister has approved adjustment to the development plan of
industrial parks in the province to 2020. Accordingly, the area of Phu Bai IP
will be cut by 75.29 hectares while the Phong Dien IP will be expanded by 300
hectares. The plan remains unchanged for the four others – Tu Ha, Phu Da,
Quang Vinh and La Son. As a result, the six IPs will have a combined area of
2,393.4 hectares.
Garment sector targets 3 bln USD export value to RoK
Vietnamese garment and textile companies are targeting a total
export turnover of an estimated 3 billion USD to the
The total export turnover of
The highest growth was seen in jackets, overcoats, suits and
male and female trousers.
The
The Ministry of Industry and Trade said last year the market
share of Vietnam textile and garment export to the RoK reached 16.4 percent,
an increase of 2.1 percent compared to 2013.
This year, the RoK's textile and garment import turnover is
expected to reach 16.3 billion USD, an increase of 11.6 percent over last
year.
Tran Viet, head of the Vietnam Textile and Garment Group's
market department, said the RoK is still a major market for Vietnamese
textiles and garments, along with markets such as the
He said that textile and garment export turnover to the RoK is
expected to keep pace with exports to
Viet pointed out that textile and garment exports to
Nguyen Van Thang, Production Director of the Bac Giang Garment
Joint-Stock Co in Bac Giang province, said last year the company's export
turnover reached 160 million USD, of which the RoK market accounted for 40
percent.
The company plans to give priority to the RoK this year and in
coming years, he added.
Thai Binh's Dong Phong Ltd. Co said it will raise investment
in order to increase exports to the RoK this year, as it sees many
opportunities there.
Le Tien Truong, Vice Chairman of the Vietnam Textile and
Garment Association, said compared to other export sectors, textile and
garment businesses have made adequate preparations ahead of upcoming foreign
trade agreements.
According to the General Customs Office, the number of
Vietnamese businesses with import/export activities with the RoK increased
from 10,900 in 2013 to 13,100 last year.
In the textile and garment sector, there are more than 100
domestic enterprises and 510 RoK-invested companies.
Remittances to
Vietnamese living abroad remitted over US$5 billion to
Since 1993, total remittances through official channels have
amounted to nearly US$96.7 billion, or an average US$4.4 billion per year and
accounting for 6.8% of the city's economy.
Last year overseas Vietnamese hailing from HCM City took part
in many social activities including building houses for the poor and concrete
bridges to replace bamboo bridges in remote areas and grant scholarships
worth over VND3 billion (US$15,000) to poor students.
The committee also co-ordinated with the overseas Vietnamese
communities in
According to the committee,
Speaking at the meeting, city People's Committee deputy
chairman Le Thanh Liem hailed the contributions made by the Viet Kieu
(overseas Vietnamese) community to
He urged the committee and relevant agencies to help overseas
Vietnamese facing difficulties and provide support and guidance to businesses
established by the community.
At the meeting, the People's Committee awarded certificates of
merit to four organisations and two members while the committee awarded its
own certificates of merits to 10 organisations and 35 members for their
contributions to the activities of the community abroad in 2014.
TH true Milk plans to corner Russian fresh milk market
The finishing touches are being put on a plan by TH True Milk
Joint Stock Company to invest more than US$1 billion in the Russian dairy
industry in what promises to be a ‘game changer’ for Vietnam in the rapidly
expanding market.
The announcement was made by
Son said many other Vietnamese enterprises operating in the
garment and textile, agriculture and food sectors have also expressed an
interest in the industrial zone and most likely will follow suit.
In addition, several Vietnamese pharmaceutical companies are
contemplating expanding into the Russian market and industrial zone, Son
added.
Both sides have agreed to speed up negotiations to get the
industrial zone up and running in the near future.
Outlook for rice exports mediocre for 2015
The Vietnam Food Association (VFA) has scaled back its
forecast for rice exports in 2015 on the back of a lacklustre 2014— as it
continues to search for measures to jump start exports and power up the
sector.
For the year ended December 2014,
Despite fulfilling the set target, rice exports were lethargic
ranking third among the world’s largest exporters after Thailand (10.5
million tonnes) and India (10 million tonnes).
Market analysts at the VFA attribute the slump to the sharp
decline in demand for rice in the African markets, overproduction by
Analysts at the VFA have reported that the difficulties from
2014 will carry over and continue to negatively affect the market in 2015.
Last year, exports of rice via the Chinese borders
skyrocketed, helping clear stockpiles; however, the border trade is fraught
with risks and does little to bring in the large foreign currencies.
According to VFA statistics, rice exports on record through
the Chinese border was roughly 650,000 tonnes, but, in fact the real volume
of rice transported from the Mekong Delta region to the northern region via
Haiphong Port was substantially higher.
The best estimates available put the figure at closer to 2
million tonnes.
On the bright side, VFA Secretary General Huynh Minh Hue said
in addition to processing and consuming rice, enterprises have improved
coordination with farmers and improved the quality and value of rice.
The VFA has forecast the rice supply and demand for 2015 to
remain unchanged from 2014, but the market will continue to face challenges
with sustainability and a lot needs to be done to rev up the industry.
Based on real situation, VFA forecast that more than 7 million
tonnes of rice will be exported in 2015, including 900,000 tonnes in the
first quarter. This is the lowest level for the quarter for the past several
years.
VFA Chairman Nguyen Hung Linh said for the first quarter of
the year, businesses have only signed contracts to ship around 500,000 tonnes
of rice and they must export an additional 400,000 tonnes to meet the set
plan. Currently, the domestic price is competitive as it is lower than or as
same as other rice exporters at US$380 per tonne for 5% broken rice.
The VFA is hoping to meet the plan to export 900,000 tonnes of
rice in the first quarter while it strategizes for longer term solutions to
shore up the industry exports and power up the economy.
HCMC will continue supporting domestic enterprises to speed up
sales of Vietnamese goods this year, especially those under the city’s price
stabilization program.
The city government will help enterprises develop facilities
and stores to sell Vietnamese goods on the outskirts and near industrial parks
and export processing zones, HCMC vice chairwoman Nguyen Thi Hong told a
meeting held on Monday to announce a Buy Vietnamese campaign this year.
Hong said to run the “Vietnamese use Vietnamese goods”
campaign effectively, enterprises should improve service quality at their
retail points and at the same time, diversify their goods.
The HCMC Department of Industry and Trade will collaborate
with relevant agencies to survey the demand of consumers, work out viable
sales plans, and provide products meeting food safety requirements at
reasonable prices for consumers, including students, workers and low-income
earners.
At the meeting, Le Ngoc Dao, deputy director of the
department, announced the results of the campaign last year. She said
Vietnamese goods on sale at traditional wet markets in the city accounted for
80% of the total and made up 90% of the total volume of goods at supermarkets
and convenience stores.
The city organized six fairs for nearly 300 companies to
showcase and sell Vietnamese goods at 398 stalls last year. These events
attracted more than 130,000 visitors.
Besides, the price stabilization program emerged as an
important channel for local consumers to buy Vietnamese products. As a
result, the number of stores selling Vietnamese goods kept growing last year
and the program helped stabilize goods supplies and prices on the market.
Dao said the major tasks this year are to promote the
campaign, online sales of local goods, and the expansion of the distribution
system. The department will organize more trade promotion activities and
support participating firms to win on the home market and penetrate into
foreign markets.
HCMC will support firms to join fairs and exhibitions in
foreign markets and do the marketing on the Internet.
HCMC will join hands with more localities so that more
Vietnamese goods produced here in the city can reach out to consumers in many
other parts of the country.
Dao also stressed the city will intensify market monitoring to
crack down on counterfeits, goods with unclear origins, and substandard
foodstuffs.
State budget collections beat target
State budget revenues last year surpassed the target by more
than VND75.3 trillion (around US$3.6 billion), according to the latest
figures released by the Ministry of Finance.
Deputy Minister Nguyen Thi Mai told reporters in Hanoi on
January 20 that State budget collections were nearly 10% higher than the
initial target, reaching more than VND858 trillion, with more than VND80
trillion in value-added tax refunds excluded.
The figure was also nearly VND11.7 trillion higher reported to
the National Assembly more than one month ago.
“Most provinces posted higher budget collections than
estimated,” Mai explained, adding that the State would use VND10 trillion
from the extra amount to pay wages for State employees this year and settle
debts.
Minister of Finance Dinh Tien Dung said the global oil price
plunge had had both negative and positive impacts on the country’s economy
and that the ministry had submitted a detailed report on these impacts to the
Government.
The ministry’s report indicated that the Government mobilized
more than VND248 trillion from G-bond sales last year, meeting 95% of the
target and increasing 37% year-on-year.
Last year, 177 State-owned enterprises (SOEs) were
restructured, with 115 of them equitized and the remainder merged. SOEs
divested more than VND2.4 trillion from stock, insurance, banking and real
estate sectors, a 2.5-fold increase versus 2013.
VSSA wants sugar imports delayed
The Vietnam Sugar and Sugarcane Association (VSSA) has
proposed the Government postpone sugar imports this time as sugar production
has reached its peak and supply has outpaced demand.
VSSA wanted a delay in sugar imports in line with the quotas
The association made the request after the Ministry of
Industry and Trade sought approval from Government for the import of 50,000
tons of sugar produced in
Statistics of VSSA showed that this year’s sugar inventory
will exceed 600,000 tons, and that an oversupply has resulted in sharp sugar
price falls and farmers’ losses. This has forced many farmers to quit
sugarcane farming and shift to other plants with higher yields.
In addition, around 400,000 tons of sugar is illegally
transported into the country a year. So VSSA Chairman Nguyen Thanh Long said
the local sugar sector will sink into more difficulties if the Government
approves the import of 50,000 tons of sugar with a zero tax as proposed by
the ministry.
If such a volume is allowed in the country, it must be
included in this year’s quota of 81,000 tons in accordance with the nation’s
commitment to the WTO; otherwise, the Government should impose an import duty
of 25% on the volume.
Multi-storey workshop buildings to go up in HCMC
Developers of infrastructure for industrial parks (IP) and
export processing zones (EPZ) in HCMC are piloting schemes to construct
multi-storey workshop buildings for small and medium manufacturers.
Tran Viet Ha, head of the investment department at the HCMC
Export Processing Zone and Industrial Park Authority (Hepza), said
construction of the multi-storey workshop facilities would help enterprises,
especially those in supporting industries, have small space for production.
In the initial stage, the multi-storey workshop buildings will
be up and running at Dong Nam and Hiep Phuoc IPs and Linh Trung and Tan Thuan
EPZs. These structures will have three to eight stories and total floor space
of 10,000-40,000 square meters each.
The multi-storey workshop model is popular in
Ha said multi-storey workshop buildings are appropriate for
producers of items which are not heavy and particularly makers of hi-tech and
supporting industry products. Tenants should have efficient waste and
emission treatment solutions, though.
Ha said the city will continue encouraging enterprises to
invest in ready-to-use workshops for such tenants and this model has helped
the city attract investors, especially foreign-invested enterprises in the
past year.
In 2014, 19 foreign-invested firms were licensed to lease
production workshops at Cat Lai and Tan Thuan IPs, which are near the center
of the city, seaports and roads including Nguyen Van Linh and the
20-kilometer-long section of HCMC-Long Thanh-Dau Giay Expressway.
Last year, the IPs and EPZs in the city attracted investment
pledges of over US$752 million, 36.8% higher than targeted and up 23.52%
against the previous year. Of which, foreign investments accounted for US$347.5
million, a slight decline of 4.39% over 2013, but domestic investments grew
64.8% to US$405 million.
The target for IPs and EPZs this year is US$700 million
probably due to global economic uncertainties.
Bac
Giang sets to earn 2.61 billion USD from exports
Northern Bac Giang province has eyed export earnings of 2.61
billion USD in 2015, up 24 percent against 2014, according to the provincial
Department of Trade and Industry.
The value is expected to include 1.05 billion USD contributed
by the garment and textile sector, 722 million USD from electronics products,
660 million USD from computers and components, 85 million USD from plastic
products, and 56 million USD from vegetables, seafood and agro-products.
Tran Van Loc, Director of the provincial Department of Trade
and Industry, said the province will implement many measures to achieve that
ambitious target, including streamlining administrative procedures or
reducing the time of customs clearance and the granting of licences.
Besides attracting more investments to the industrial parks,
depositories, depots, inland ports and logistics centres will be built to
facilitate export and import activities, Loc said.
The province plans to seek new markets in Africa and the
Middle East while maintaining its foothold in the traditional export markets
like ASEAN,
Enterprises will get support to take part in trade fairs as
well as getting bank loans, provincial authorities stated.
According to the department, the province’s export revenue in
January is estimated to reach 182.9 million USD, up 20.6 percent against the
same period in 2014.
Vingroup appoints Savills Viet
Vingroup appointed Savills Viet
Vinhomes Riverside is one of the key projects currently being
developed by Vingroup.
At a special sales event on Saturday, Savills launched a
series of villas and semi-detached villas in the Hoa Phuong and Hoa Sua zones
of the market, with the total area for each villa estimated to be between 155
and 600 square metres.
After appointing Savills as the exclusive sales agent, the
developer and Savills also announced a special sales promotion programme for
buyers of these villas.
Located in the northeast gateway of Ha Noi, Vinhomes
Riverside, which has been operational for three years, has become "the
best urban township in
"We found that most of potential buyers tend to be
interested only in completed properties that are ready to be occupied. Their
decisions are made, based not only on the construction quality, but are also
dependent on the surrounding landscape, facilities and the society.
"Having met all of these criteria, Vinhomes Riverside can
be considered as the best choice for villa buyers" said Matthew Powell,
Director of Savills Ha Noi.
Vietnam has forecast 2015 to be another banner year for the
labour export market, forecasting it will send in excess of 105,000 guest
workers abroad, roughly the same number as 2014.
Tong Hai
Last year was the first time the number of guest workers
surpassed the 100,000 milestone and we are optimistic that we can maintain at
least the same levels in all foreign markets for 2015 and improve in a few.
Key markets where we expect growth include
The
Ninh Binh province to be rebranded
The northern province of Ninh Binh is to be rebranded as part
of a major overhaul, capitalizing on its new found status as a UNESCO mixed
natural and cultural world heritage, it has been announced.
Speaking at a workshop aimed at increasing inbound tourism to
the province, Deputy Minister of Culture, Sports and Tourism Dang Thi Bich
Lien underscored the point that a refocused future strategy would be highly
beneficial.
She said given the importance of tourism to jobs and economic
growth the priority should be to ensure that we have the right structures in
place to maximise the benefits this crucial sector can bring.
The province has seen significant growth in inbound visitor
numbers and, more importantly, in tourism revenue over the last few years she
said, adding that thechallenge is to maintain and build on that momentum and
deliver a multimillion dollar thriving tourism industry for the province.
Giovanni Boccardi, head of Asia-Pacific unit of UNESCO’s World
Heritage Centre in turn said the new image should be closely interwoven with
nurturing its new UNESCO world heritage status globally.
The province should capitalise on the designation of the Trang
An Scenic Landscape Complex as a UNESCO mixed natural and cultural heritage
of the worldtorevamp its image through a highly coordinated effort, he added.
The workshop was held by the Ninh Binh provincial People’s
Committee in collaboration with UNESCO on January 22 at the Legend Hotel,
Ninh Binh city as part of the festivities celebrating the province’s UNESCO
selection.
Some 70% of the capital is expected to come from the private
sector, Mai said at a workshop held in
Besides, the country should spend an amount of money
equivalent to 2-6% of its gross domestic product (GDP) to cushion the adverse
impact of climate change.
However, it is tough for the nation to achieve the targets.
“We lack policies and incentives to mobilize money. It is still difficult to
attract local and foreign investors,” Mai said.
The Government spends nearly US$1 billion a year on climate
change and green growth projects. The country has borrowed US$11 billion in
official development assistance (ODA) to fund green growth projects and
programs since 1993 but this sum is much lower than needed, Mai said.
Cheating to dodge customs inspections found
Many import enterprises have taken advantage of the revised
Customs Law with effect on January 1 this year to file different declarations
for their imported goods to avoid customs inspections.
Nguyen Huu Toan, head of the import-export tax division under
the HCMC Customs Department, estimated the number of falsified customs
declarations account for up to 20-30% of 5,000 declarations a day.
Importers attempt to lodge multiple files for customs
clearance for one batch of their goods and then chose the approved file to be
exempted from customs inspections.
The situation has turned more complicated as the revised
Customs Law allows enterprises to file customs declarations at any border
gates instead of the gates they import their products as before. For example,
firms import goods into at the ports in HCMC but can file customs
declarations in Dong Nai, Binh Duong or Ba Ria-Vung Tau
Province until they get customs inspection exemptions for their goods.
The new rule makes it more difficult for the customs to find
out whether the importers have paid import tariffs for their goods or not,
Toan said.
The HCMC Customs Department has suggested local authorities
ask the Ministry of Finance and the Government to review the new rule as this
may give rise to smuggling and trade fraud.
The authority of Saigon Hi-Tech Park (SHTP) and Holland-based
The two sides will cooperate in training programs related to
integrated circuits and special courses at the training and research centers
of the park in HCMC’s District 9.
They will jointly provide services and assessments regarding
machinery and equipment, fab-care services, research and development
(R&D), production, and distribution as well as organize seminars at home
and abroad.
Besides, FabMax will assist in consulting, introduce experts
and equipment.
The collaboration aims to increase the quality and quantity of
personnel to meet the needs of high-technology enterprises operating in and
outside SHTP.
SHTP last year granted investment certificates to 10 projects
with combined investment pledges of US$1.9 billion. There have been 68
approved local and foreign investment projects with total registered capital
of nearly US$4.2 billion.
Enterprises at SHTP posted exports of some US$3.1 billion last
year and more than US$10 billion so far, accounting for more than 90% of the
city’s high-tech export value.
Local content in products made at SHTP increased to over 32%
last year from 20-22% in 2010.
The
The number of companies involved in R&D at SHTP was 22
last year.
Source : VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Chủ Nhật, 25 tháng 1, 2015
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