Thứ Hai, 2 tháng 10, 2017

BUSINESS IN BRIEF 1/10

“Vietnamese Dragon Fruit Day” goes vibrant in Australia 

“Vietnamese Dragon Fruit Day” goes vibrant in Australia, PM holds policy dialogue with leading private firms, Credit growth rate tops 11 percent during first nine months 2017, HCMC halts pilot electronic cargo supervision at Cat Lai seaport 
  
Nearly 100 kilos of dragon fruit were sold during the Vietnamese Dragon Fruit Day, which was jointly held by the Vietnamese Trade Office and the Embassy of Vietnam in Australia on September 30.
The fruit was sold at 30 AUD (23.89 USD) per kilo due to its high quality and eye-catching appearance.
At the event, Vietnamese Ambassador to Australia Ngo Huong Nam expressed his hope that Australia market entry will help Vietnamese dragon fruit enter a group of fruits earning export value of 1 billion USD.
The move is also a good launch pad for the fruit to go to other fastidious markets worldwide, Nam highlighted.
He said that Australia is a prospective market for the Vietnamese fruit due to its contrast in fruit harvest time with Vietnam.
Vietnam will promote negotiations to ship other fruits to Australia like longan, passion fruit and rambutan, he stressed.
Hoang Huy Khanh, Director of the Da Lat Export-Import Company in Australia, said that farmers and domestic businesses must obey strict requirements in food safety and quarantine set by Australia and the fruit must be harvested from Global GAP farming areas and undergo proper pasteurised process.
Among three fruit shipped to Australia (lychees, mangoes and dragon fruit), dragon fruit poses huge potentials as it can fruit all year-round and if the import cost is lower the consumption will go up soon, he added.
The first batch of Vietnamese dragon fruit was exported to Australia by the Hoang Phat one-member Ltd Co in the southern province of Long An on September 20.
Dragon fruit is one of Vietnam’s key export fruits, and saw export sales of 895.7 million USD in 2016, 50.3 percent of the country’s total fresh fruit exports and 36.1 percent of its total fruit and vegetable exports.
Vietnamese dragon fruit has been exported to 40 countries and territories such as China, Thailand and Indonesia.
Hanoi: Consumer price index rises over 3 percent
Hanoi’s Consumer Price Index (CPI) in September posted a month on month rise of over 3 percent as reported by the municipal Statistics Office.
The Office attributed the growth to the rising prices of foods and foodstuff, which has made up the largest part of the groups concerning commodities that are subject to calculation for the index.
At a conference of the Hanoi People’s Committee on September 28, it was reported that the average consumer price index in the capital in regards to the first nine months was up by 3.5-3.55 percent over the same period last year.
The average CPI in 2017 is estimated to increase by 3.05-3.11 percent compared to 2016.
The city’s revenue for the first nine months of the year reached VND146.4 trillion (US$6.5 billion), meeting 71.5 percent of the year’s targeted revenue.
It is estimated that the total city revenue for the entire year will reach over VND207.6 trillion (US$9.2 billion).
The city aims for a GDP growth of 8.5 percent in 2017.
Novaland Group receives $40mn loan facility
Credit Suisse AG, Singapore Branch, has recently disbursed $40 million to Vietnamese property developer the Novaland Group. This is the first disbursement from a $100-million credit package committed by the Singaporean capital arranger with a 42-month term, signed between the two parties in early August.
After Novaland’s two previous secured loans were disbursed, Credit Suisse AG approved this unsecured loan to the developer. The loan has a competitive interest rate of 3-month LIBOR plus a margin of 5.5 per cent per annum.
Novaland’s brand name and prospective developments have been recognized and highly appreciated by Credit Suisse AG. The disbursement will immediately fund the company’s projects under development to ensure the product quality and construction progress committed to with customers, simultaneously strengthening its reputation among shareholders and investors.
Credit Suisse Group is a Swiss-multinational financial service holding company, headquartered in Zürich, that operates the Credit Suisse Bank and other financial services investments. The company is organized as a stock corporation with four divisions: Investment Banking, Private Banking, Asset Management, and a Shared Services Group that provides marketing and support to the other three divisions.
Similar to the previous offshore loans granted by Maybank, Malaysia’s largest financial services group and the leading banking group in Southeast Asia, VietinBank Filiale Deutschland, the first and only Vietnamese bank operating in Europe, and the Singapore-based GW Supernova Pte Ltd., Novaland had to prove strong financial strength, project development plans, and growth potential.
All of the loans from international credit institutions will support Novaland in diversifying its sources of capital, especially its access to international capital markets. It previously secured a credit facility of $50 million from GW Supernova Pte. Ltd., maturing in 36 months from the first day of drawdown, in December 2016. It included non-convertible and convertible borrowings of 40 per cent and 60 per cent, respectively.
In April this year, Novaland also received disbursement of $30 million. The 30-month syndicated loan came from Maybank Ho Chi Minh City, which is the agent and representative receiving and dealing with collateral, Maybank Labuan Malaysia, and VietinBank Filiale Deutschland.
Local e-commerce sites win the hearts of Vietnam's shoppers
Eight out of the 10 most visited e-commerce sites in Vietnam are locally based, but number one spot goes to Lazada.
Online shoppers in Vietnam are showing a growing preference for local retailers, according to a new report released by iPrice, an e-commerce platform available in seven countries across Southeast Asia.
Eight out of the 10 most commonly visited e-commerce sites in the country are locally-based firms, the report found.
The only two foreign representatives to appear in the top 10 are Alibaba-owned Lazada and Singapore-based Shopee, who are both expanding their operations across Southeast Asia.
Despite dominating the top 10, domestic retailers still lost out on number one spot to Lazada, which attracts 41 million visitors per month. Vietnamese giant The gioi di dong came in second with 32 million visits, followed by Sendo with 24 million. Shopee came in eighth, generating traffic of 7.6 million a month.
Vietnam's e-commerce sector has been blossoming in recent years, growing at 22 percent annually. Unsurprisingly, competition in the sector is fierce, and some foreign players have already felt the heat.
American e-commerce platform Ebay has been unable to compete with local firms, while Singapore's Zalora recently called it a day in Vietnam.  
The report, compiled in April and June this year, compared 50 e-commerce merchants currently operating in Vietnam based on monthly visits, application downloads and social media followers.
In the apps race, The Gioi Di Dong outnumbered its competitors with five million installed, five times more than each of Sendo, Lozi and Shopee.
When it came to the number of Facebook followers, Lazada and Shopee outpaced their Vietnamese peers. Lazada now has around 17.5 million followers while Shopee has 2.4 million.
Online sales in Vietnam have expanded rapidly in recent years, currently accounting for 3.39 percent of the country’s retail market. The total retail market grew 10.2 percent last year to $118 billion, mainly fueled by a growing middle-class with expanding disposable incomes and an increasing number of internet users.
Fabrice Carrasco, managing director of Kantar Worldpanel for Vietnam and the Philippines, predicted that e-commerce in Vietnam will grow more than fivefold by 2020 on the back of widespread smartphone usage and increasing demand for consumer convenience.
Vietnam economy grows, boosted by exports
The economy expanded 7.46 percent in third quarter of 2017 from the same period last year, the strongest third quarter growth since 2010.
Vietnam's economy surged more than 7 percent in the third quarter according to data on September 29, but officials warned the country may still fall short of its annual target.
The country has been one of the region's best performing economies in recent years, fueled largely by exports of cheaply made goods like Samsung phones and Nike shoes.
The middle class is also rapidly expanding in the country of 93 million people, lifting domestic spending across many sectors.
But growth dipped last year to 6.2 percent as the economy recovered from a major drought and a massive fish kill along the central coast.
GDP expanded 7.46 percent in third quarter of 2017 from the same period last year, according to the General Statistics Office (GSO), the strongest third quarter growth since 2010.
"Growth was largely driven by exports. Domestically, strong credit growth is supporting household spending and the real estate sector," ANZ Bank said in an email to AFP on September 29.
It was also a bump up from last quarter's 6.28 percent growth and 5.15 percent posted in first three months of the year.
Overall growth for the first nine months of 2017 is 6.41 percent, the highest since 2015 but below the official annual target of 6.7 percent.
But the GSO chief warned the economy may struggle to hit that goal.
"Reaching this year's growth target will be a challenge," Nguyen Bich Lam said on state-run Vietnam Television.
The Asian Development Bank said earlier this month it expects annual growth to hold steady at 6.3 percent, even as some sectors have slowed.
"Despite the drop in mining and oil output, Vietnam's economy continues to perform well, driven by its twin engines of export-orientated manufacturing and rising domestic consumption," ADB Vietnam country director Eric Sidgwick said in a statement.
Economists have warned that soaring public debt and dodgy loans plaguing the banking sector are holding the economy back.
The government has vowed to tackle mismanagement in the corruption-riddled banking sector.
VN Index falls after late selling
Shares fell slightly on the Ho Chi Minh Stock Exchange on September 29 as large-cap stocks lost steam and declined on investors’ late selling.
Vietnam’s benchmark VN Index on the southern market closed down 0.05 percent at 804.42 points after having risen as much as 0.5 percent during the morning session.
It also reversed from a 0.13 percent drop on September 28. The fall on September 29 also marked a weekly loss of 0.3 percent for the VN Index.
More than 139.4 million shares were traded on the southern market, worth 3.1 trillion VND (137.6 million USD).
September 30’s trading figures dropped 27.6 percent in volume and 20 percent in value from the previous session’s numbers.
Large-cap stocks were unable to maintain their prolonged growth rates as investors increased selling to earn profits when the market was coming to a close.
Half of the 30 largest stocks by market capitalisation and trading liquidity in the VN30 Index declined while 12 others advanced and three stayed unchanged.
BIDV Securities Company (BSC) said in its daily report that low investor confidence must be blamed for the decline of the stock market as it pulled down market trading liquidity and created strong selling pressure on local shares.
According to Vietnam Investment Securities Company (IVS), after tapping the intraday high of 808.77 points, the benchmark VN Index weakened and finished lower than Thursday’s ending level as investors increased their selling in two stocks – brewer Sabeco (SAB) and PetroVietnam Gas (GAS).
SAB fell 2.3 percent after having reached its intraday highest growth rate of 2.4 percent. Shares of the largest brewer jumped 4.3 percent on September 28.
GAS dropped more than 2.2 percent after it had gained total 4.3 percent in the previous six sessions.
Other large-cap stocks that also weighed down the southern market index included gas station operator Petrolimex (PLX), consumer goods producer Masan (MSN) and Sacombank (STB).
Among the three stocks, MSN was down 1.1 percent after having risen as much as 2 percent during the session. MSN gained 1.5 percent on September 28.
On the Hanoi Stock Exchange, the HNX Index inched up 0.21 percent to end at 107.66 points. The northern market index had dropped total 0.4 percent in the previous two sessions.
Nearly 62.5 million shares were traded on the northern bourse, worth 528.8 billion VND.
Community-based organisations tend to turn into social firms
A conference was held in Ho Chi Minh City on September 29 to discuss how community-based organisations (CBOs) continue helping vulnerable groups since the amount of foreign financial aid is declining. 
Speaking at the event, Pham Hong Son, head of G3VN group – a CBO for the gay community, said it has changed itself to a social enterprise by building Galant general clinic specialising in diagnosing HIV infection, treatment of sexually-transmitted diseases, among others. It also commits to reserving 51 percent of its profits for supporting the gay community. 
Director of the Centre for Promotion of Quality of Life (LIFE) Nguyen Nguyen Nhu Trang said six out of 31 CBOs in the south have turned into social businesses. 
In particular, three CBOs, namely “Aloboy”, “Hoa co may” and “Da khoc” have been cooperating together to create a clean food distribution channel called AloFood, which sets aside 52 percent of its profits to serve the community. 
Trang said CBOs also play an important role in HIV/AIDS prevention and control by working closely with victims or those at high risk of infection. 
The event was co-hosted by the Centre for Promotion of Quality of Life (LIFE) and the US Agency for International Development (USAID).-
Kien Giang moves to develop supporting industry
The Mekong Delta province of Kien Giang plans to disburse more than 19 billion VND (836,000 USD) to develop its supporting industry.
According to the provincial Department of Industry and Trade, the province will invest in developing manufacturing mechanics, packaging production, electronic components, medium density fibreboard (MDF) wood, and footwear.
Vice Chairwoman of the provincial People’s Committee Le Thi Minh Phung said some supporting industry products will be developed in the coming time such as metal, plastic and rubber components, electronics and spare parts, garment-textile and footwear materials.
The province pledged to help businesses apply product quality management and business administration systems in line with international standards to increase their competitiveness, she said.
Local authorities will also offer assistance in improving human resources quality and increasing connectivity between universities, research institutes, training facilities and enterprises, she added.
PM holds policy dialogue with leading private firms
Prime Minister Nguyen Xuan Phuc held a policy dialogue with 14 chairmen and general directors of leading private enterprises in Hanoi on September 30.
PM Phuc praised the production and business achievements of the participating firms, which, he described as important contributions to the economy.
The PM said he wants the businesses to frankly talk about their difficulties and challenges, stressing that the dialogue was a concrete action to implement the Resolution on the development of the private sector, which was adopted at the 12th Party Central Committee’s 5th plenum.
The government leader highlighted the recent substantial progress achieved by the private sector, but also pointed to a lack of large-scale private companies. Most of Vietnamese private enterprises are of small-, medium- and micro-sized firms, he said.
PM Phuc affirmed that the Government will collect feedback from the companies to complete relevant policies, improve the business climate, and remove bottlenecks in order facilitate the private sector’s development.
According to the Business Development Department under the Ministry of Planning and Investment, the private economic sector contributes 43.22 percent to the country’s gross domestic product (GDP), accounts for 39 percent of the total social investment, and generates 11.9 percent of all jobs. Meanwhile, the State economic sector contributes 28.69 percent to the GDP. 
In 2016, the number of newly-established enterprises nationwide hit a new record with more than 110,000, up 16 percent annually. In the first nine months of 2017, an additional 94,000 firms were established with a combined registered capital of 900 trillion VND (39.6 billion USD).
Hanoi, Qatar Airways seek tourism development cooperation
Hanoi’s Department of Tourism has suggested Qatar Airways to coordinate with the city in promoting its tourism potentials.
Tran Duc Hai, Director of the Department of Tourism, said at a working session with representatives of the airline on September 29 that Hanoi welcomes over 4 million foreign visitors each year. Currently, 24 international airlines are operating flights to Hanoi-based Noi Bai International Airport.
Hai pledged that Hanoi will help Qatar Airways promote its images, while creating optimal conditions for the airline to operate in Vietnam.
For her part, Jeanie Jin, chief of the Qatar Airways Office in Hanoi, said that the airline has run flights to 150 destinations across the globe.
She expressed hope that the launching of the Hanoi-Doha direct air route will help boost tourism cooperation between Vietnam and Qatar.
Nguyen Nhat Phuong, from travel firm Saigontourist, proposed that Qatar Airways loosen its regulations on group tours while cooperating with Vietnamese firms and offer ticket promotions to introduce new destinations and promote tourism.
The Hanoi-Doha direct air route is scheduled to operate from January 2, 2018, which is expected to foster the Vietnam-Qatar connectivity. Currently, flights between Vietnam and Qatar have to transit in Bangkok.
Workshop in France spotlights Vietnam’s economy
A workshop on Vietnam’s economy after 30 years of reform has been held in France’s central city of Saint-Cyr-sur-Loire by the friendship association Touraine-Vietnam.
Speaking at the seminar, Vietnamese Ambassador to France Nguyen Ngoc Son stressed that Vietnam began its reform policy by opening its door to the world. Vietnam wants to become a trustworthy and responsible partner of the international community, he said.
The ambssador introduced Vietnam’s economic achievements and the importance of the Vietnam-France strategic partnership.
France is currently the bilateral second biggest provider of official development assistance (ODA) for Vietnam, with a committed amount of 3 billion USD since 1993.
France is also Vietnam’s third biggest export market in the European Union, he said, adding that France is investing over 3 billion EUR in more than 300 projects in Vietnam.
However, the diplomat said bilateral economic ties still fail to match with potential of both sides. He expected that the EU-Vietnam Free Trade Agreement (UVFTA), which is scheduled to take effect next summer, will foster trade and investment relations between the two nations.
Participants lauded the strong development of Vietnam in recent years. They expressed their interest to learn about the teaching of French language in Vietnam, key Vietnamese exports to France and Vietnam’s average living standards and heath care.
Touraine-Vietnam has hosted various events to introduce Vietnam’s traditional culture and socio-economic development in France. In November last year, the organization received a certificate of merit bestowed by Vietnam’s Ministry of Culture, Sports and Tourism for its outstanding work.
Conference promotes Vietnamese tourism in Thailand
A coference to discuss ways to promote Vietnamese tourism among Thai people and international friends was held in Bangkok on September 29.
The event was jointly organised by the Vietnam National Administration of Tourism (under the Ministry of Culture, Sports and Tourism), the Vietnamese Embassy in Thailand, the Tourism Authority of Thailand and the Tourism Council of Thailand.
Representatives of the Vietnam National Administration of Tourism introduced Vietnam’s potentials to the delegates, including political stability, open-minded and hospitable people, 3,200 km-long coastline, being one of the ten countries holding the longest coastline in the world, a number of world heritage sites recognised by the UNESCO and also various cuisines, etc.
With such potentials and advantages, Vietnam has become an increasingly popular destination for international tourists. In the first eight months of this year, Vietnam welcomed nearly 10 million international arrivals, including nearly 200,000 Thai, up 23% over the same period last year. The country is expected to welcome around 13 million foreign visitors in 2017.
Speaking at the workshop, Deputy General Director of the Vietnam National Administration of Tourism Ha Van Sieu praised Thailand's initiative to link tourist destinations in the regional and international frameworks, including Cambodia, Laos, Myanmar, Vietnam and Thailand (CLMVT), the Ayeywady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS). Vietnam and Thailand can take advantage of this initiative in order to extend the journey of Vietnamese tourists to Thailand and vice versa, he noted. He also called for closer coordination between relevant agencies and travel agents between the two countries.
Vietnamese Ambassador to Thailand Nguyen Hai Bang emphasised that in the context of good relations between Vietnam and Thailand, especially in terms of politics and economics, the two countries should further promote cooperation in tourism, with the motto "two countries, one destination".
Representative from the Tourism Authority of Thailand Pichai Raktasinha affirmed that Vietnam has many advantages to develop the nations’ tourism; however the number of 13 million international visitors to Vietnam per year is still not adequate. He suggested that Vietnam should further implement tourism promotion programmes in order to bring the image of Vietnam closer to international friends.
Credit growth rate tops 11 percent during first nine months 2017
Credit growth rate reached 11.02 percent as of September 20 this year, higher than 10.46 percent during the same period last year, reported the General Statistics Office of Vietnam (GOS). 
Total means of payment increased 9.59 percent over the same period last year. Banks’ capital mobilization growth was 10.08 percent, down 12.02 percent.
GOS said that the credit growth maintained good momentum showing positive tendency and capital absorption ability of the economy.
Banks have positively implemented policies and requirements by the State Bank of Vietnam (SBV) to lower interest rates and short term rates to priority fields by 0.5 percent. They have also reduced interest rates in some mid and long term programs to these fields to 8 percent a year.
Customers getting loans for production and trading enjoyed a cut of 0.5-1 percent. Those having transparent financial conditions can get short term loans at 4-5 percent a year.
SBV branch in HCMC said that total outstanding loans in the city reached VND1,670 trillion (US$73.51 billion) at the end of September, up 13.5 percent over last yearend and 19.8 percent over the same period last year. That is nearly 3 percent higher than the country’s average rate.
Capital capitalization by credit institutions in the city hit VND1,940 trillion ($85.39 billion), increasing 9.2 percent over the same period last year. Credit in HCMC continued flowing into production, trading and business assistance.
HCMC halts pilot electronic cargo supervision at Cat Lai seaport
HCMC Customs Department has officially halted the pilot implementation of electronic cargo supervision at Cat Lai seaport since September 30. 
The Customs Division at Cat Lai seaport started the electronic supervision on December 26 last year to pilot implementation of Article 41, the Customs Law 2014 to container export import goods.
The e-supervision process is conducted quickly in the system of the General Department of Vietnam Customs and businesses. The two sides exchange data confirming that cargo containers have passed customs’ supervision area. Customs officials do not need to sign papers confirming that the containers have gone out of the port.
Still the system has not smoothly operated, causing the official have to sign many confirmation papers. Therefore, the general department has permitted HCMC to temporarily halt the electronic supervision program to reestimate the efficiency of the article’s implementation, improve customs supervision quality in the upcoming time, shorten customs clearance time for business, counter trade fraud, ensure security and safety.
Ministry discusses ways to uphold world’s top cashew exporter
The Minister of Agriculture and Rural Development presided over a conference discussing ways for Vietnam to uphold world’s top cashew exporter and obtain the export turnover of $3 billion by 2020.
The forum debated solutions to intensify connectivity between businesses and farmers in applying science and technology and implementing the agricultural restructuring project approved by the Prime Minister to obtain the above targets.
Delegates at the forum said that the cashew industry should focus on deep processing, market development and material zone development; plant new varieties and replant old and low-yield cashew trees to increase productivity and output.
The ministry would side with businesses to solve policy problems to develop the industry, it affirmed.
According to the Department of Crop Production, Vietnam has obtained the biggest cashew nut export turnover in the world after 30 years of development. The country ranks second in processing and third in productivity and output.
In 2016, Vietnam exported 347,000 tons with the turnover of $2.84 billion and processed over 50 percent of the word’s cashew output.
Despite leading in export turnover, the cashew industry has showed some limitations for instance output has been in down trend, cashew growers’ income not high, added value low and degraded area on the rise.
Statistics from the ministry show that at present, local production output can meet only one third of the processing demand of over 300 businesses. Therefore, Vietnam has increased import from Cambodia, India, West Africa and Côte d'Ivoire. Last year, the country imported one million tons of raw cashew nuts.
Minister Nguyen Xuan Cuong said that the cashew industry still has many opportunities develop as the world’s consumption demand is forecast to continue growing in the upcoming time.
LienVietPostBank to trade on UPCoM in October
The Hanoi Stock Exchange (HNX) has just announced on October 5, 646 million shares of LienVietPostBank (coded LPB) will officially be traded on the Unlisted Public Company Market (UPCoM). 
The first reference price will be VND 14,800 per share.
LienVietPostBank has current VND 6,4trillion of chartered capital. Of these, Vietnam Post is its biggest shareholder, owned 12.54 percent of LienVietPostBank’s chartered capital.
Representative from LPB said, it would organize roadshow of investment opportunity in LPB’s share in HCMC on October 2.
FTM issues 11million shares
In October, Duc Quan Investment & Development JSC (coded FTD Vietnam) will issue 11million shares to raise VND 110billion. 
It will issue 10million of the shares to existing shareholders at a price of VND 10,000 while 1million shares will be sold for its laborers at the same price.
The money raised through this issuance will be used to invest in the trade apartment complex locating at 55 Tran Nhat Duat, Tan Dinh Commune in District 1, HCMC.
After issuing, FTM will have chartered capital of up to VND 610billion.
ADS to issue 10million shares in October
Yarn producer Damsan (ADS) plans to issue 10million shares in October, priced at VND 17,000 per share aiming to invest in Eiffel Yarn Corp and Damsan manufactures yarn and cotton at An Ninh Industrial Zone in Tien Hai district of the northern province of Thai Binh.
Of these, 5.6million shares will be sold to its current shareholders and 4.4 million shares will be for its strategic partners.
If successful, ADS will increase its chartered capital up to VND 269billion.
ADS announced for the first half 2017 it profited VND 25billion. 
GDP growth rate reaches peak in Q3
Gross Domestic Product (GDP) in Q3 expanded 7.46%, a record high over the past years, said the General Statistics Office (GSO).
The GSO convened a press conference to announce socio-economic performance in the first nine months of 2017, on September 29 in Ha Noi. 
In the first nine months, GDP picked up 6.41% against the previous year; increasing 5.15% in Q1; 6.28% in Q2. The agro-forestry-fishery sector went up 2.78%. Industry and construction expanded 7.17%. Service sector picked up 7.25%. 
Noticeably, in Q3, GDP reached the peak of 7.46%. 
GSO General Director Nguyen Bich Lam mentioned four bright points for growth namely (1) agriculture; (2) the manufacturing and processing industry (up 12.8%); active FDI sector (with US$ 25.5 billion of FDI attraction in the first nine months) and (3) service boom (9.2% growth rate of total retail sale of goods and services); and the Government’s drastic effort to streamline administrative procedures; and improve the business environment.   
Mr. Lam held that with the growth trend, the preset goal of GDP growth rate may be within reach despite the GDP scenario for Q4 must touch 7.31%, a relatively high target.
The GSO General Director said that there are wide doors for Viet Nam to fulfil the preset goal. He suggested the Government continue to facilitate business development. Since the beginning of the year, Viet Nam had 93,967 newly-founded enterprises. However, the number of temporarilly suspended enterprises was 49,345, up 9.4% against the same period last year.  
In addition, the domestic economy is coping with numerous difficulties including declining mining industry and slowdown trend of agricultural production. The progress of State budget collection and disbursement of public investment projects was slow. Natural disasters continued to occur. 
The General Director stressed the necessity to implement Resolution 01/NQ-CP on major tasks and solutions for implementation of this year’s socio-economic development plan and state budget estimates; cut lending interest rates; strive for a 21% credit growth; speed up disbursement progress of public investment projects; and restructure budget collection and spending; reduce regular spending./.  
HNX raises over 4 trillion VND from Government bonds in September
The Hanoi Stock Exchange (HNX) announced it mobilised over 4 trillion VND (176 million USD) from 16 government bond auctions in September.
The bonds were offered for four tenures: five years, seven years, 10 years and 30 years.
The coupon rates of five-year term bonds were at 4.63-4.67 percent, seven-year at 4.83-4.85 percent, 10-year term at 5.38-5.4 percent and 30 year-term at 6.1 percent per annum.
Compared to August, coupon rates rose 0.02-0.07 percent per annum for five-year, seven-year, 10-year and 15-year term bonds while the rate remained unchanged for 30-year term bonds.
In the secondary market, the total number of government bonds in outright transactions reached over 1.02 billion, which was equivalent to 113.6 trillion VND (5 billion USD), a month-on-month surge of 8.6 percent.
The total volume of government bonds in repurchase agreement (repo) trading stood at more than 851 million, valued at over 85.3 trillion VND (3.8 billion USD), down 31 percent from last month.
Foreign investors also made outright purchases of more than 291 billion VND (12.8 million USD). They made no repo transactions in September.
Vegetable, fruit exports estimated at 2.64 billion USD
Exports of fruits and vegetables in the first nine months of the year are estimated at 2.64 billion USD, a year-on-year surge of 44.2 percent, according to the Ministry of Agriculture and Rural Development (MARD).
China, the US, Japan and the Republic of Korea are largest import markets of Vietnam which all together occupy 85.4 percent of total vegetable and fruit export value. Meanwhile, strong export growth was recorded in Japan (64.6 percent), the United Arab Emirates (64.4 percent) and China (60.2 percent).
The MARD said that unfavourable weather conditions, especially recent storms, affected vegetable and fruit supply in July and August. However, the market has seen signs of recovery recently.
In the nine-month period, the country splashed out 1.15 billion USD on purchasing fruits and vegetables from foreign countries, up 78.2 percent from the same time last year.
Vietnam Airlines aims to transport 25 million passengers in 2018
The national flag carrier, Vietnam Airlines, said that it plans to transport about 25 million passengers in 2018, a rise of 10.8 percent against the previous year’s figure. 
The carrier also expects to transport around 320,000 tonnes of cargo during the year.
Besides, Vietnam Airlines will mobilise resources to implement its key projects in a bid to improve its competitiveness as well as the efficiency of production and business. These projects cover its fleet, infrastructure and information technology. 
In 2017, the company looks to serve 21.9 million passengers, up 6.2 percent year-on-year, and an estimated 310,000 tonnes of cargo, up 14.6 percent.    
Monthly Ngoc Linh ginseng market to be held in Quang Nam
The central province of Quang Nam will organise a monthly market to promote Ngoc Linh ginseng, part of the project to raise consumer awareness over Ngoc Linh ginseng.
Nam Tra My District People's Committee announced the news during a press conference on September 29.
According to Ho Quang Buu, chairman of Nam Tra My People's Committee, about 20 to 50kg of fresh ginseng will be sold at the market held at the district's centre. The first session will be held from October 1 to 3.
The ginseng will cost from VND55m (USD2,400) to VND90m a kilo. The ginseng leaves cost from VND5.5m to VND6.5m a kilo. Over 20 stalls will be opened to introduce ginseng and its products. Other 30 stalls will be used to introduce other agriculture and craft products. 
Visitors not only can buy genuine ginseng with a certificate of origin but can also enjoy various activities such as exchanges with the farmers, manufacturing companies or exploring cultural and cuisine of ethnic people.
"A group of seasoned farmers, managers and state officials will evaluate the quality of the ginseng. The district will take responsibility if there is fake ginseng," Buu said.
The project to grow and make Ngoc Linh ginseng a major product costs about VND9trn (USD397m). Le Tri Thanh, vice chairman of Quang Nam Province said they wanted to make ginseng a key product to drive local economic development and erase poverty for ethnic people in mountainous areas.
Ginseng was first found on Ngoc Linh Mountain on the border between the Central Highlands Kon Tum Province and Quang Nam in the late 1960s. Last year, Ngọc Linh Ginseng was granted geographical indication in Quang Nam and Kon Tum provinces. It is regarded as one of the five best ginseng species in the world.
Using smart phone in cultivating vegetables
Doctor Duong Trong Hai, Director of the Institute of Science and Technology has introduced the Ilyra agriculture ecosystem along with his associates which enables anyone to cultivate vegetables using the VietGap process.
Using the automatic Ilyra system, farmers don’t have to go to the garden but can still control the farming experience via smart phone or computer. All the watering, fertilizing, spraying, or harvesting processes are programmed.
This allows anyone even those who don’t have any farming technique to cultivate. Doctor Duong Trong Hai said that in addition to automation, the system also enables origin tracing. 
“The system is useful for farmers and big agricultural producers because it enables growers to make their cultivation process transparent. The public or agencies can collect accurate information about products from the system,” said Doctor Hai. 
The system helps urban people to grow vegetables for their daily meals and also big gardeners to pursue large-scale production. 
Doctor Ngo Thi Lam Giang, Deputy Director of the Agriculture Biology Institute of Nguyen Tat Thanh University said automatic production on a large scale helps save labor and costs and ensure strict technical factors which traditional cultivating methods cannot meet. Circled production and transparent information will help growers earn customers’ trust. 
Ms Giang said “We found the system feasible and a breakthrough, technologically. The system connects all factors in a chain enabling us to manage from the cultivation process to consumption.”
The research group is finalizing the system which has proved successful in growing 7 vegetable species. They plan to program the cultivation process on more plants and herbs and establish an electronic business system to connect growers with consumers.
Vietnam-EU Free Trade Agreement ratification expedited
Some pending issues around the Vietnam-EU Free Trade Agreement are being settled to ensure that the deal will be ratified early next year.
The Vietnam-EU Free Trade Agreement (EVFTA) is being struck with bilateral relations between Vietnam and the EU developing well, especially in economics and trade.
Under the agreement, the two sides will remove more than 99% of tariff lines and offer customs quotas or tariff reductions for other products.
The strong commitment to opening their markets is considered one of the agreement’s breakthroughs, particularly enhancing Vietnam-EU trade relations in garments, textiles, footwear, agricultural products, machinery, equipment, automobiles, and some EU farm produce.
The agreement will also create new market access opportunities in services and investment. Vietnam has agreed to a liberalization of trade in financial services, telecommunications, and postal and courier services. Vietnam will also remove or cut production restrictions in food, beverage, and non-food sectors for EU businesses.
With commitments to secure a more open investment and business environment, the deal will increase investment flows from the EU and other partners to Vietnam.
This could make Vietnam a transit hub connecting EU trade and investment activities to Southeast Asia.
Alann Bouvot, CEO of SODEX Sport Vietnam, which has done business in Nha Trang City since 1991, said “I’m quite optimistic about Vietnam’s investment environment. I have witnessed improvements in the local investment climate in 26 years investing there. 
Since 2017 Sodex has invested in a new production facility covering an area of 15,000 m2.  Our investment in Vietnam has brought us advantages in the entire Southeast Asian region. With a strategy to globalize our products, our presence in Vietnam is a key factor.”
At a recent workshop on the agreement in Brussels, Jean-Jacques Bouflet, a member of the EuroCham Executive Committee, said that to quickly realize the benefits of the deal, both sides should speed up negotiations in this decisive period.
Nguyen Hoang Long, Director of the Foreign Affairs Department of the Vietnam Foreign Ministry, said EU enterprises expect the deal to be signed soon and become an effective tool to protect them.
“The EU, represented by EU’s chief negotiator Mauro Petriccione, said that the early adoption of the EVFTA will be one of its priorities. 
It will work closely with Vietnamese partners so that ratification in the European Parliament and negotiations with partners in the EU will soon be completed,” said Hoang Long.
VNN

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