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BUSINESS IN BRIEF 27/4
April CPI picks up over electricity and gasoline adjustment
The Consumer Price Index (CPI), a calculator for inflation
growth, escalated by 0.14 percent from March buoyed from the increase of
petroleum and electricity prices, announced the General Statistics Office
(GSO) on April 24.
The GSO said the figure for the first four months of the year
rose by 0.8 percent compared to the same period last year.
The price bracket saw the sharpest rise in transportation
(2.47 percent); followed by housing and building materials (0.84 percent);
culture, entertainment and tourism (0.32 percent); home appliances (0.16
percent); and education (0.01 percent).
Meanwhile, price decreases were seen in food and restaurants
(0.42 percent), beverage and tobacco (0.01 percent) and telecommunications
(0.09 percent).
The GSO said CPI growth was curbed by the drop in food price,
triggered by an abundant supply yet dwindling demand after the Tet holiday.
In addition, steady CPI in April was spurred by a fall in domestic gas
prices.
The price of gold decreased as the dollar strengthened. The
inter-bank average exchange rate, quoted by the State Bank of Vietnam (SBV)
on April 15, was 21,458 VND/USD. Meanwhile, the rate in free markets stood at
21,620 VND/USD, up 0.74 percent from March.
According to the GSO, inflation rose 0.07 percent against March
and 2.2 percent from the same period last year.
The GSO highlighted that the May CPI is likely to continue to
rise due to the impact of electricity price adjustments and increasing demand
for tourism, food and public transportation during the upcoming long holiday
celebrating the Southern Liberation and National Reunification and
International Labour Day.-
Deputy PM demands approval of macadamia cultivation planning
Deputy Prime Minister Hoang Trung Hai has demanded expeditious
approval of a master plan on sustainable cultivation of macadamia, dubbed
“Queen of Nuts” indigenous to
At his request, the Ministry of Agriculture and Rural
Development is responsible for monitoring seed quality and facilitating
farmer-business joint ventures in collaboration with agencies and localities.
Well-known for its nutritional value and high concentration of
mono-unsaturated fats, macadamia was introduced to
After more than a decade under trial farming, it was found
that
Local scientists have tested and found that the northwestern
and
The plant has so far covered over 2,000ha in the Central
Highlands.
The project aims to turn macadamia into a key industrial plant
in the Central Highlands region, which can provide a stable source of income
for the farmers and turn the region into a "macadamia kingdom" in
Pan Pacific says shares do better than expected
Agriculture and food products producer Pan Pacific (PAN)
reported a consolidated revenue of over 1.12 trillion VND (52 million USD)
and a pre-tax profit of 183 billion VND (8.47 million USD) for 2014.
PAN said during its shareholders general meeting on April 24
that though it had not achieved the targeted revenue, it still saw profits
surge 31 percent more than expected.
This year, PAN expects 2.5 trillion VND (115.5 million USD) in
revenue and a pre-tax profit of 280 billion VND (12.9 million USD),
reflecting an increase of 53 percent over 2014.
Chairman Nguyen Duy Hung said if these targets are met, PAN
would announce a dividend of 10 percent in cash.
PAN's board of directors also decided to increase the charter
capital of its subsidiary PAN Food from 100 billion VND (4.6 million USD) to
1 trillion VND (46.29 million USD) during the meeting.
Also at the meeting, CEO Michael Louis Rosen announced that
PAN would change its name from Trans-Pacific Corporation to the PAN Group
Corporation or the PAN Group.
Professor Tran Dinh Long, a member of the PAN board, said
PAN was established in 1993 and has been listed in the local
market since 2006.
On April 24, PAN shares closed at 38,300 VND (1.7 USD) each on
the HCM City Stock Exchange.-
Nestle vows to promote Vietnamese coffee in international
markets
The Nestle Group is carrying several major projects with the
aim of popularising Vietnamese coffee among coffee consumers all over the
world and making
Executive Vice President for Nestle Nandu Nandkishore,
responsible for Asia, Oceania and Africa, told the Hanoi Moi (New Hanoi)
newspaper that the recent inauguration of Nestle’s 80-million USD factory in
southern Dong Nai province not only marks a new step forward in the group’s
presence in Vietnam but also demonstrates that Nestle is continuing to carry
out its commitment to the community, coffee farmers and consumers in the
country.
The Dong Nai factory, Nestle’s second facility to produce
de-caffeinated coffee beans in the world, will use only Vietnamese robusta
coffee beans, and its product will be supplied to Nestle processing
facilities around the world, according to the executive.
It is expected to raise the production value for Vietnamese
coffee farmers as well as the Vietnamese coffee reputation in international
markets, he said.
Since 2011, the company has also assisted coffee farmers in
the Central Highlands in replacing old trees in a bid to improve productivity
and production value, with a total of 11 million coffee seedlings to be
supplied at half the price by the end of 2015.
The project also opened technical training courses to more
than 20,000 local farmers to spread the application of good farming practice.
At the same time, Nestle joined the public-private partnership
project in coffee production, an initiative put forward at the World Economic
Forum 2010. With the collaboration of other partners such as 4C and
Rainforest Alliances, the project has been building model coffee farms and
training farmers in sustainable farming techniques, contributing to reducing
production costs, environmental impact and raising productivity and income
for farmers.
According to the executive, Nestle’s investment in
The inauguration of the Dong Nai factory and farming projects
that Nestle is carrying out in
Vietnamese coffee is available in more than 80 countries and
territories across the world, making the country the second largest coffee
exporter in the world, only after
The country is currently the world's leading exporter of
robusta coffee. Last year, it earned 3.62 billion USD from shipping 1.73
million tonnes of coffee abroad, up 33.4 percent in volume and 32.2 percent
in value.
Germany and the US remained the two largest importers of
Vietnamese coffee in 2014, accounting for 14.13 percent and 10.17 percent,
respectively, of the country's total coffee export turnover.-
NA Committee looks into socio-economic performance
The National Assembly (NA)’s Committee for Economic Affairs
convened the 12th plenary session on April 24 to verify a supplementary
report on the implementation of the 2014 socio-economic development plan and
the plan for 2015.
The supplementary report by the Ministry of Planning and
Investment (MPI) affirmed that most of the key targets set by the NA were
achieved, except for the one on the rate of trained labourers.
Macro-economy was kept stable with inflation kept under
control and low growth in consumer price index. The GDP grew at a three-year
high rate of 5.98 percent that surpassed the set target, and trade surplus
was gained for the third straight year, the ministry said.
In the first quarter of 2015, the GDP growth rate was at 6.03
percent – the fastest pace for the period since 2011. The number of new
businesses rose by 3.8 percent with registered capital climbing 13.5 percent
from a year earlier, the MPI reported.
The ministry proposed 11 key measures to promote
socio-economic performance this year, including continuing to improve the
business climate, accelerating State-owned enterprise (SOE) restructuring and
equitisation, stabilising macro-economy, developing human resources, and
stepping up the research and application of science-technology in production
and business activities.
At the plenary session, members of the Committee spoke highly
of the realisation of the set targets, noting that such achievements were
thanks to both internal efforts and global factors.
They agreed with the proposed 11 key measures while asking
ministries and Government agencies to quickly issue documents guiding the
implementation of the revised Law on Enterprises, the revised Law on
Investment, and the Law on Public Investment, ultimately optimising the
economy’s competitiveness.
Many urged NA agencies to strictly supervise the making of
regulations on investment and business conditions and issue a law or a
resolution on SOE privatisation to raise State agencies’ sense of
responsibility regarding this matter.-
Vietnam looks to tap tourism market in India
The seminar was part of the Global Exhibition on Services
(GES) that is underway in
Addressing the seminar, Deputy General Director of the Vietnam
National Administration of Tourism Ha Van Sieu praised the progress of
bilateral tourism engagement since the two governments signed a cooperation
agreement in 2001.
Tourism cooperation is part of the agenda of talks during
respective visits by Indian President Pranab Mukherjee and Prime Minister
Nguyen Tan Dung last September and October.
Ha Van Sieu said with a 1.2 billion population and soaring
demand for foreign travel,
He expressed hope that the GES will offer Indians an
opportunity to learn more about
In his opening remarks, Indian Minister of State for Culture,
Tourism and Civil Aviation said the Indian government is rolling out
appropriate policies to promote tourism, including ways to ensure security
and safety of domestic and foreign visitors.-
Binh Duong seeks development, int’l integration advice
The southern
The goal of the conference was to collect ideas and opinions
from experts, scientists, managers and businessmen towards long-term
solutions for developing urban areas and service sector or drawing
investment.
The conference also reviewed Binh Duong’s past achievements
and lessons to draw upon in the coming years.
Many speeches at the event discussed technical infrastructure
connectivity between the province and
Nguyen Huu Tu, Deputy Secretary of the province’s Party
Committee, thanked experts and scientists for their advice and underlined the
importance of sustainable development.
Conference seeks solutions to stronger aviation transport
Over 350 logistics experts from airline and logistic firms
worldwide gathered for a conference in
Participants focused their discussions on development trends
of aviation transport and new challenges facing airlines in
Do Xuan Quang, President of the Vietnam Logistics Association,
said the event provided a venue for Vietnamese enterprises to seek new
opportunities for developing supply chains, adding that it is also a chance
for foreign firms to enhance their strength and position in the Vietnamese
market.
According to Vo Huy Cuong, Deputy Head of the Civil Aviation
Authority of Vietnam, there are over 50 international airlines from 25
countries and territories providing services in
However, links between airlines and logistics firms have been
largely ignored.
At the event, participants also debated how to connect air
transport with the logistics sector, which is said to play an important role
in fostering the development of the aviation transport industry.
The Ministry of Transport has deployed a sector restructuring
plan and designed projects to improve capacity in management and utilisation
of infrastructure facilities in a bid to develop logistic services.
Rodrigo Rayes, Regional Cargo Manager of the International Air
Transport Association, underlined that to speed up the development of
aviation transport, it is necessary to build a transparent, synchronous and
comprehensive framework for the entire transport process.-
Vietnam exports 90 percent of honey to US
In the first quarter of 2015, Vietnamese enterprises shipped
over 80 tonnes of honey to the European market, a positive sign of expanding
market penetration, according to the Vietnam Trade Promotion Agency (Vietrade)
and the Ministry of Industry and Trade.
The industry is still facing challenges in lack of experience,
underperforming beebreeding techniques, low product quality management and
insufficient marketing strategies, limiting Vietnamese honey’s recognition in
the world market.
In an attempt to develop the country’s industry, Vietrade has
signed an agreement with the
Japanese traders fish for
Businesses operating at
Representatives from more than 20 Japanese businesses from the
Ishinomaki Fisheries Association in Miyagi on April 23 met with domestic businesses
in
Amakawa, a Ten Group representative, said some businesses from
Ishinomaki previously have exported material seafood to
“We want to export Ishinomaki fish and seafood products to
Vietnamese customers through a retail network,” said Amakawa.
Tomihiko Chiba, Hitakami Sensyoku Company director said
Ishinomaki is called the city of fish because its fish and seafood industry
has developed strongly.
Its businesses now stay active in seeking export markets, of
which
Integration puts Vietnamese producers at risk of losing home
market
As
However, only Vietnamese consumers and importers are said to
be among the biggest beneficiaries when shipments from ASEAN countries and
From the perspective of manufacturers, the pressure of
integration will be extremely formidable when local firms have to compete
with rivals from
The ASEAN members include
That pressure has been mounting on local manufacturers as
their domestically-made products cannot compete with imports once the door is
fully open to foreign-made goods which often have an edge over theirs
regarding price and quality, Phu said.
It is certain that foreign-made goods will flood the
Vietnamese market when tax barriers are completely removed thanks to their
superiority in price and quality, Phu added.
“Just look at Thai products, from fruit to household
appliances, they are often offered at a variety of price ranges and come in a
wide range of types, which trump Vietnamese-made goods at any price point
with better quality,” he said.
Under the ASEAN-Japan Comprehensive Economic Partnership
Agreement, the tariff lines of more than 3,200 products imported from
"Certainly when the taxes on imports from other ASEAN
members and
Hanoi-based Binh Minh Co. specializing in distributing cameras
and camcorders imported from
Some other distributors said the price would drop 3-5% this
week compared to the preceding period, depending on each type.
According to the Tax Policy Department under the Ministry of
Finance, to protect locally-made products, the taxes levied on imports need
to be increased.
But now the department cannot do so because of the rules of
the World Trade Organization, of which
In addition, the tax rates of many kinds of imported goods
will be fully dropped in accordance with many free trade agreements (FTA)
Such tax reductions will greatly affect domestic firms whose
goods are not able to compete with imports from those countries by that time.
At the same time, reducing import tariffs will also mean
shrinking tax revenue, especially those imposed on cars, motorcycles, and
petroleum products.
Tran Quoc Khanh, Deputy Minister of Industry and Trade, told
Tuoi Tre that
The Hanoi People’s Committee has unveiled a plan to attract
information technology (IT) manufacturers and firms to the capital city over
the six year period 2015-2020.
Our ultimate goal is for
For 2015, IT businesses operating in the city are expected to
realize total revenue of US$5 billion, 80% of which are generated from
exports that create thousands of high paying jobs for residents.
To fulfill the targets and stimulate job growth to new
heights, city official and employees will spare no effort to enhance state
management capacity and implement measures to support expansion of the
industry.
Specifically, city officials are targeting speeding up the
software technology parks at Vo Nguyen Giap and Cau Giay streets.
Sapo takes top honours at Sao Khue Awards
Sapo, a software solutions innovator transforming networks
that connect and store big data utilizing cloud computing, received top
accolades on April 24 at the prestigious 2015 Sao Khue Awards in
The award recognizes Sapo’s product quality, technical support
and product delivery by a panel of experts from the Ministry of Information
and Communications, Ministry of Industry and Trade, research institutes,
technologists and technology reporters.
The goal of Sapo’s software package is to learn as much as
possible about each customer's attitudes, needs, and behaviour to provide
them optimal service and keep them satisfied and loyal.
Receiving this award is a testament to our dedication in
providing world-class technology, outstanding products, and best-in-class
customer support, said Cat Van Khoi, Sapo project manager.
It’s an honour to be recognized as a leader in the technology
industry and a global leader with very high standards in product excellence.
At the awards ceremony, Sao Khue awards were presented to 69
recipients that met the panel’s strict criteria in terms of technology
advantages, creativity, revenue and high growth rate.
This year’s awards have reflected a new trend of the
application of software solutions in solving hot issues in health, education,
public administration, agriculture, accounting, human resource management and
the retail fields.
Air Freight Logistics Vietnam 2015 opens in HCM City
Air Freight Logistics Vietnam 2015 got underway on April 23 in
At the two-day exhibition and conference, speakers are
addressing a wide variety of topics regarding new trends and challenges in
the logistics industry in the Asia-Pacific region in general and
“The conference provides a great opportunity for domestic
businesses in the industry to forge new cooperative opportunities in the
logistics sector,” said Do Xuan Quang, Vietnam Logistics Business Association
President..
Quang said it also affords them a chance to connect with
foreign companies and get a toe hold in the global supply chain and raise
their prestige in the industry both domestically and globally.
Vo Huy Cuong, deputy director of the Vietnam Civil Aviation
Administration (VCAA), in turn said more than 50 foreign airlines from 25
countries currently conduct flights to Vietnam and the aviation market ranks
third in terms of growth.
Cyrille Picard, a representative from Boeing group said
Vietnam International Photo and Imaging Show (VIPI) and
Vietnam International Broadcast & AV Show 2015 (VIBA 2015) will
officially open in
The annual event will focus on imaging technologies (photo
cameras, photographic films, photographic studio equipment, smart phones and
others) and audio equipment (entertainment sound equipment, smart TVs,
smartbox/TV box and cable TV equipment).
With more than 400 pavilions, the two-day event is expected to
attract the world’s leading technology groups such as Canon, Nikon, Tamron,
Yamaha, GoPro, Denon, Jamo, Shure and local enterprises namely Anh Duy, Tieng
Ngoc, Truong Le, Khai Thien and CGV. More than 30,000 visitors are expected
to join the event.
An international exhibition titled LEDTEC Asia will also be
held during the event, expecting to attract 120 companies from 10 countries.
Experts from
Survey shows support for Vietnam joining TPP
A recent survey from the Vietnam Chamber of Commerce and
Industry (VCCI) found that 66% of domestic enterprises have expressed support
for the Trans Pacific Partnership Agreement (TPP) to go forward.
However for transnational enterprises operating in
“There is still a surprising group of small and medium sized
businesses that are not well informed about
Professor Malesky added that the survey results surprisingly
showed that 31.5% of domestic enterprises and 29.8% of transnational
enterprises said they were completely unaware of the trade negotiations.
Even more interesting is the fact that transnational
enterprises from non TPP member nations were better informed and knew more
about the status of negotiations than those from TPP member countries, he
added.
These negotiations have been conducted in secret and no
official draft of the document has been released so it’s understandable that
no one in the general public knows the specifics of the agreement.
What we are talking about here is simply the general awareness
of the
Overall 50% of all domestic and transnational enterprises
operating in
Malesky said most transnational enterprises were not concerned
with
Exporters should benefit from expanded export markets, Malesky
suggested, adding that on the reverse side the TPP should also stimulate
imports into
However, it should be pointed out that because the specific
terms of the agreement have yet to be made public, all of the representations
by Malesky are simply his opinion at this point.
TPP negotiators have announced that negotiations are entering
their final stages and should be concluded in the next couple of months. If
they are successful the TPP will affect trade among the 12 member countries,
making up nearly 40% of the global economy.
According to the VCCI, the TPP negotiators are making progress
and only a few differences remain to be resolved.
Many experts view the TPP an important opportunity for
Currently,
Some economists have speculated that after TPP comes into
effect Vietnam would get a stimulus of US$46 billion and a growth of 13%.
To turn TPP advantages into reality however, enterprises must
be pioneers in grasping opportunities, said VCCI President Vu Tien Loc,
adding that the survey results showed that most support Vietnam’s entry into
the TPP.
Despite the positive evaluation of the TPP, a number of
concerns still remain, said Malesky. As one example he said the question of
whether the garment industry will benefit from tariff reductions is not cut
and dry.
The answer depends on the origin of the raw materials.
Tariff reduction only applies if they were imported from a TPP member
country.
FDI disbursement tops $4.2b
Disbursement of existing foreign direct investment (FDI)
recorded a year-on-year rise of 5 per cent to hit US$4.2 billion in the first
four months of this year, according to the latest report from the Ministry of
Planning and Investment's Foreign Investment Agency.
A total of 448 new foreign-invested projects, worth more than
$2.67 billion, were licensed during the review period, a yearly decrease of
17.1 per cent.
Meanwhile, 167 operating projects were also given approval to
add $1.04 billion to their investments, a fall of 35.7 per cent over the
corresponding period last year.
According to the report, total FDI registered in the country
topped more than $3.72 billion in the January-April period, equivalent to
76.7 per cent of the figures for the same period last year.
Foreign investors placed their investments in 14 sectors
during the period. Of these, the manufacturing and processing sector attracted
the largest share of FDI with $2.83 billion or 76 per cent of the nation's
total FDI.
Estate trading came next with $327 million, while wholesale
and retail ranked third with $198.6 million.
South Korea remained Viet Nam's biggest foreign investor with
more than $9.08 million, making up 24.4 per cent of the total FDI registered.
This was followed by Turkey ($660 million or 17.7 per cent),
British Virgin Islands ($509.6 million or 13.7 per cent) and Japan ($374.3
million or 10.1 per cent).
The southern province of Dong Nai was the most attractive
destination for foreign investors with $916.7 million in FDI investment,
accounting for 24.6 per cent of the nation's total.
HCM City and the northern port city of Hai Phong came second
and third, with $784.9 million, or 21.1 per cent, and $292.1 million, or 7.8
per cent, respectively.
The report noted that the foreign-invested sector created a
trade surplus of more than $2.71 billion in four months as it earned $35.07
billion from exports, up 12.6 per cent or equivalent to 70 per cent of the
country's total export turnover. The FDI businesses imported $32.35 billion
worth of goods, up 27.8 per cent.
Since the Law on Foreign Investment was issued in 1987, FDI
capital has had great impact on Viet Nam's economy.
It had mobilised capital for development and promote economic
development, said the Director of the National Centre of Socio-economic
Information and Forecasting, Mai ThiThu.
FDI also helped create conditions for the transfer of
technology, generated jobs and accelerated the country's global integration,
she said during a conference in Ha Noi early this month.
Several products produced by foreign-invested businesses in
Viet Nam had established themselves firmly in international markets, such as
telephones, electronic components and garments and textiles, she said.
Director of the Foreign Investment Agency, Do Nhat Hoang, said
FDI helped to strengthen the linkage between foreign and domestic businesses,
and assisted Viet Nam's economy to integrate deeper into the global economy.
Wrongdoing found in VietinBank's business
The Government Inspectorate has found many wrongdoings in the
2009 to 2012 business performance at Viet Nam Joint Stock Commercial Bank for
Industry and Trade (VietinBank).
According to a report signed by Deputy Chief Inspector Ngo Van
Khanh and released this week, the inspection focused on the bank's credit
activities, financial investment and procurement and renting of assets, as
well as setting and using funds.
The inspection found that VietinBank had been responsible for
violations of regulations in both capital mobilisation and credit activities,
including breaking lending regulations and setting higher deposit interest
rates than allowed. Serious violations by the bank were sent to the police for
further investigation.
Due to an imbalanced capital structure, VietinBank had to use
short-term deposits for medium - and long-term credit. Further, some of the
bank's branches broke the maximum deposit interest rate of 14 per cent set by
the State Bank of Viet Nam from March 2011 to September 2011, and paid
brokerage commissions and improper marketing expenses in cash.
The bank's violations were found in almost all stages of the
lending process, from the credit appraisal stage to disbursement stage.
The bank also did not classify debts as per proper procedures,
leading to inaccurate debt classifications, where some Group l (Standard)
debts of the bank actually belonged to Group 2, 3, 4 and 5 (Debt Needing
Special Attention, Subprime Debt, Doubtful Debt, Potentially Irrecoverable Debt).
It also had violations in regulations outlining debt restructuring, extending
disbursement times and grace periods.
Regarding financial investments, VietinBank did not follow the
proper rules on using capital from Government bonds and when investing in
risky businesses, said authorities.
VietinBank was also found to have many systemic violations in
procurement and the renting of its assets, as well as setting and using
funds, which impacted its efficiency in using capital.
NBB tells shareholders of its plan to take-over CII Holdings
Real estate developer NBB Investment Co (NBB) yesterday
admitted that HCM City Infrastructure Investment JSC (CII) had proposed it
become a member company of CII Holdings.
This was revealed at the annual shareholders' meeting in Ha
Noi.
Don Truong Trieu, NBB's chairman, said CII presented two
proposals, one for NBB to become a CII member with the suggested name CII
Member, not CII Land as previously suggested.
The other proposal was that CII increase its holdings in NBB
to 40-50 per cent.
"This would not be a take-over, but just a pure
investment co-operation," Trieu said, adding that any procedures to
execute the transaction would be discussed at an extraordinary meeting of
shareholders.
CII has actively bought NBB shares since the beginning of this
year. It raised stockholding in NBB to 24.06 per cent of NBB's charter
capital on Thursday after another purchase of 346.800 NBB shares.
NBB shares closed flat yesterday at VND23,400 (US$1.08) a
share while CII's price ended 1.9 per cent down at VND21,100 ($0.98) each.
NBB last year invested more than VND170 billion ($7.9 million)
to develop two major projects, including Son Tinh residential area in Quang
Ngai Province and City Gate Towers high-rise apartment in HCM City to create
supplies for sales during 2015-17.
However, the company's performance was slow in 2014 as its
total sales reached just VND256 billion ($11.9 million), about 83 per cent of
its yearly plan, while the net profit was VND35.5 billion ($1.6 million),
equivalent to 50.7 per cent of the target.
NBB attributed the modest results to the slowdown in capital
divestment from Quang Ngai Mineral Company. It also said that the Son Tinh
and City Gate Towers projects that made profits from these developments was
recorded this year instead of 2014.
The real state company decided to keep cash dividends
unchanged in 2014 at the rate of 10 per cent.
In 2015, it has set a revenue target of nearly VND299 billion
($13.8 million), of which VND156 billion ($7.2 million) will be from real
estate sales, while the remainder from earnings of divestment from Quang Ngai
Mineral Co.
It's net profit is expected to reach VND70 billion ($3.2
million) for the whole year and the dividend rate is set at just 8 per cent.
Besides the major Son Tinh and City Gate Towers projects, NBB
will develop other buildings, such as Diamond Riverside apartment in HCM City
and Mountain Villas in northern Ha Long City.
NBB also plans to resume its convertible bond issue plan this
year worth VND210 billion ($9.7 million) with a proposed term of three to
five years. The interest rate is likely to be fixed at five to nine per cent
a year, paid annually.
FPT most attractive employer in VN
Viet Nam's giant software corporation, is ranked the most
attractive employer in Viet Nam, reports a new survey by Universum.
Under the ranking list, FPT ranked in the top 10 employers in
Viet Nam this year, rising 11 grades from its ranking last year.
The survey is an independent business reference for employers
worldwide.
Co-op helps shallot farmers make more
Saigon Co-op signed agreements with farmers in Soc Trang
Province to buy 100 tonnes of Vinh Chau shallot by May. The agreement comes
as part of an effort to help them cut losses after prices plummeted following
a bumper harvest.
The shallots will be available at all of Saigon Co-op's
outlets, including Co-opmart, Co-opXtra and Co-op Food.
Nguyen Thi Thu Thuy, deputy general director of Saigon Co-op,
said its purchase division bought the first batch of 15 tonnes in mid-April
and distributed them to its stores.
Saigon Co-op is paying the farmers higher prices than those
offered by local traders.
Mobifone director now new chairman
The Ministry of Information and Communications has appointed
Le Nam Tra, the general director of the MobiFone Telecommunications
Corporation, as its new chairman.
Tra replaces chairman Mai Van Binh, who retired on December
31.
Born in 1961, Tra started working at the Vietnam Posts and
Telecommunications Group (VNPT) in 1989 and moved to its subsidiary, Vietnam
Mobile Telecom Services Company, which operated MobiFone, in 1994.
He was appointed as MobiFone general director in August last
year. After the company was given approval to transform into a corporation,
he was appointed general director on December 11, 2014.
HCM
City reports strong economic growth
HCM City achieved robust economic growth in the first four
months of the year, the city administration's website reported without
furnishing the growth figure.
Retail sales and services amounting to nearly VND211.5
trillion (approx. US$9.8 billion), a year-on-year increase of 10.7 per cent,
according to figures released at a meeting to review the performance on
Thursday.
Exports in the period edged down to $9.29 billion, but exports
ex-crude oil rose 8.3 per cent to $8.03 billion.
Exports of industrial products accounted for 69.4 per cent of
non-crude exports, according to Thai Van Re, director of city Department of
Planning and Investment.
If oil prices had not slumped, there would have been a sharp
increase in exports in line with the targets set by the city.
The industrial growth index was up 5.7 per cent (compared with
5.2 per cent last year) as industrial production expanded due to a focus on
processing and manufacturing at the cost of mining.
Domestic and foreign direct investment was also on the rise.
As of April 20 licences had been issued for 8,823 new local
firms with a combined registered capital of nearly VND47 trillion (nearly
$2.2 billion) a year-on-year increase of 15.7 per cent and 10.4 per cent.
In addition, 158 new foreign projects worth $615.3 million
were also licensed, a 55.9 per cent increase in number but a 12.3 per cent
decrease in capital.
In May the city authorities will focus on some major targets
like fully tapping domestic demand, strengthening distribution networks in
remote areas and maintaining traditional overseas markets while seeking to
expand into new ones.
They will launch new promotion campaigns to enable city
businesses to exploit their domestic and overseas markets and help companies
in the price stabilisation programme develop their distribution networks for
essential goods.
Positive socio-economic markers reported in Q1
The nation's first quarter GDP grew at the highest level since
2011 to reach 6.03 per cent, the Ministry of Planning and Investment reported
yesterday.
In a report to the 12th plenary session of the National
Assembly (NA) Economic Committee, it said the first quarter of 2015 saw
several changes for the better in the nation's socio-economic development.
It cited as an example a 1.25 per cent credit growth, as
compared to a fall of 0.57 per cent in the first quarter of last year.
The number of new businesses increased 3.8 per cent with the
newly registered capital rising 13.5 per cent year-on-year, the report said.
Reviewing last year's performance, the report said all the
targets assigned by the NA had been met or exceeded, except in labour
training.
Macro-economic growth and stability was maintained, inflation
contained and the Consumer Price Index (CPI) kept low, it said.
The 2014 GPD growth of 5.98 per cent was the highest in three
years and exceeded the set target.
Export momentum was maintained at high level, helping to make
2014 the third consecutive year with a trade surplus.
Based on the socio-economic situation of the first quarter of
2015, the ministry has identified 11 measures to focus on in the remainder of
the year, including continuing to improve the business climate, stepping up
economic restructuring and State enterprise equitisation, maintaining
socio-economic stability while switching to a new growth model.
Developing human resources and intensifying research and
application of science and technology in production would also be a focus,
the report said. NA deputies praised the performance, especially in exceeding
some of the targets.
They said such results were made possible by the concerted
efforts of the government at all levels, businesses and the citizens.
They also mentioned some external factors that affected not
only Viet Nam but also other countries in the world.
Agreeing with the 11 measures proposed by the ministry,
delegates said that all relevant legislation including the 2013 Constitution,
the revised Enterprise Law, the revised Investment Law, the Housing Law and
the Public Investment Law had institutionalised as many as possible lines and
policies (of the Party and Government) designed to improve the investment
climate and strengthen the nation's economic competitiveness.
The Government should instruct its ministries and agencies to
promptly issue guiding documents for their enforcement and create concrete
conditions for investment.
The deputies also asked concerned NA agencies to enhance
monitoring of the issuance of regulations related to investment and business
conditions.
Some asked the NA to consider the issuance of laws or
regulations concerning State enterprises' equitisation in order to boost
State accountability and transparency in this regard.
Yesterday's meeting was convened to hear the report reviewing
implementation the Socio-economic Development Plan of 2014, ongoing
implementation of the 2015 plan and to discuss the draft Statistics Law.
Source : VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Hai, 27 tháng 4, 2015
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