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BUSINESS IN
BRIEF 1/12
Wire-producing factory for Boeing may be set up in HCMC
Eugene Kim (L), chairman of
A
factory producing wires for U.S. airplane maker Boeing may be set up in HCMC
in the coming time, said Eugene Kim, chairman of South Korea’s Huneed
Technologies, a strategic supplier of Boeing Company.
Speaking
at a meeting with the city’s Chairman Nguyen Thanh Phong on November 27,
Eugene Kim revealed Huneed Technologies is bidding to provide equipment for
Boeing. If the company wins, it may expand its production by establishing a
factory in the Saigon Hi-Tech Park in HCMC’s District 9, which he visited the
same day.
He
explained that the local low-cost budget airline Vietjet has plans to
purchase 100 Boeing aircraft, a large order which may bring the
City
chairman Phong pledged the municipal government would create favorable
conditions for foreign companies, especially those in supporting industries,
to set up shop in the city. If the wish of Eugene Kim comes true, the city
would team up with the company to train workers.
Vietnam – Poland economic forum opens in HCM City
A
Addressing
the forum, the Polish President said the nearly-70-decade-long relations
between
Through
the forum,
Minister
of Information and Communications Truong Minh Tuan stated
He
said Polish investment in
He
said
He
urged the local business community to make use of the forum to gain insights
into the Polish markets and chances for their investment in electronic
components, IT, and farm produce.
The
minister urged Polish investors to do business in
The
11-month CPI rose 3.61 percent year-on-year.
Eight
out of the 11 commodity groups enjoyed rises, with the highest growth of 0.68
percent seen in transport. It was followed by medicines and health services
(0.2 percent); apparel, headwear and footwear
(0.15
percent); goods and other services (0.14 percent); food and catering services
(0.11 percent).
Only
prices of housing and construction materials, post and telecommunications,
and culture, entertainment and tourism dropped.
Do
Thi Ngoc, deputy head of the GSO’s Prices Statistics Department, attributed
the price hike to the recent flood in the central region which pushed up food
prices in Phu Yen (1.62 percent), Ninh Thuan (1.51
percent),
Khanh Hoa (1.05 percent), Quang Ngai (0.98 percent) and Binh Dinh (0.74
percent).
Petrol
price adjustments on November 4 and November 20 also raised transport prices
by 0.68 percent. Health service price hikes in Quang Ninh, Quang Tri and Bac
Lieu and higher tuition fees in Quang
Ninh
and Bac Lieu also contributed to CPI growth.
Falling
prices of pork, iron and steel, domestic tours curbed CPI hike.
According
to the GSO, core inflation that is the CPI excluding food and beverages,
energy and State-controlled services like healthcare and education, in
November rose by 0.06 percent from the last month, and 1.32 percent
year-on-year.
The
average core inflation in the first 11 months was estimated at 1.44 percent,
lower than the previous forecast of 1.6 – 1.8 percent indicating the
effectiveness of the current monetary policy.
The
CPI in December is predicted to rise slightly from the previous month, mostly
due to adjusted prices of food, health care services, construction materials
and petrol.
Hai Phong hosts exhibition on energy saving
The
International Exposition on Technologies and Products for Energy Saving and
Environment Protection (E&E Expo Hai Phong 2017) kicked off in the
northern port city of
The
exhibition aims at introducing the achievements of technology development and
energy saving solutions, promoting products, seeking partners to expand the
production market and finding distribution agents for domestic and foreign
enterprises.
It
has attracted the participation of 56 companies with around 70 booths and
outdoor display areas, introducing energy saving products, renewable energy,
nuclear energy and household electrical appliances, as well as industrial
equipment and environmentally friendly products.
In
addition, the exhibition is also a space for businesses and experts to
provide solutions on energy saving and environmental protection for daily
life and business production, contributing to the propagation and raising of
public awareness on economical and efficient use of energy for people,
organisations and enterprises.
The
event is held at
German firms eye investment in Hanoi
Members
of the German Asia-Pacific Business Association (OAV) want to explore
cooperation opportunities in urban development, infrastructure facility,
means of transportation, energy, environment and human resource in
Timo
Prekop, member of the OAV Board, informed Nguyen Duc Chung Chairman of the
municipal People’s Committee of the businesses’ intention at a meeting in
He
said German businesses in general and OAV members in particular hope to
receive assistance from the city authorities in seeking opportunities in
Welcoming
the delegation, Chung said
The
city wants to apply European technologies in those fields, and a number of
German advanced technologies have been applied in health care, landscaping,
and wastewater treatment, he said.
He
called on foreign and domestic firms to invest in waste-to-energy sector,
build public toilets, and clean lakes and ponds in the city.
Underlining
the fruitful cooperation of the two sides, Chung affirmed that in the coming
time, the city will focus on sharing experience, transferring technology and
luring investment from European firms, particularly German ones.
HCM City enhances investment cooperation with Italy
Chairman
of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong on November 29
held talks with Ivan Scalfarotto, Italian Deputy Minister of Economic
Development who is leading a business delegation on a visit to the city.
The
leader of
The
official vowed to create favourable climate and ensure legitimate rights and
interests for Italian investors in
Lauding
the dynamism of
He
stressed that the Italian Government is also ready to support Italian firms’
partnership with HCM City to develop small- and medium-sized enterprises,
along with helping the city improve product quality in the
industries
of textile, leather shoes and wooden furniture as they are
At
the meeting, Alessandro Decio, CEO of Italy Export Credit Agency said the
fund will earmark 250 million EUR for Italian firms that want to operate in
The
fund is also willing to provide support for Vietnamese businesses to buy
machinery and technology from
Italian
businesses expressed their interest in projects in
Two-way
trade of
Argentina
does not only want to boost exports of agricultural products to Viet Nam but
also wants to buy more Vietnamese products, an agriculture official from that
country has said.
Rosario
Martearena, undersecretary, agricultural markets, in the Ministry of
Agriculture, is leading a trade mission comprising 11 companies selling animal
feed, soybean, aquatic products, beef, etc. to
Speaking
at a business matching event in
Last
year
Of
She
said through her visit
“I
am also working to open more market opportunities for
Nearly
half of the Argentinian companies represented in her delegation have done
business with
“The
Vietnamese embassy in
“They
have organised
Ho
Xuan Lam, deputy director of the HCM City Investment and Trade Promotion
Centre, said his centre and the city have organised many trade promotion
activities including business seminars and B2B events to acquaint local
companies with the Argentinian market and solicit investment from Argentinian
businesses.
Bilateral
trade topped $2.9 billion last year and is expected to rise to $3.5 billion
this year.
Viet
Nam mainly exports footwear, textiles, rubber, electronic parts, and plastic
products and imports soybeans, soybean oil, maize, wheat, cattle feed and
drugs.
Next
year Viet Nam and Argentina will celebrate 45 years of diplomatic ties, which
would be an important milestone encouraging the two sides to further
strengthen co-operation, he said.
There
is still a lot of untapped potential in trade for the two countries to
exploit, he added.
ADB judges public-private-partnership investment in
The
Asian Development Bank on November 27 launched its first annual report
monitoring the progress of the public-private-partnership (PPP) environment
in member countries, including
Recognizing
the country’s rising public debt and State-owned enterprises dominating the
development and management of infrastructure projects, the Government is set
to rein in the State role in the economy and encourage the private sector-led
growth, according to the Public-Private Partnership Monitor.
The
PPP regulations provided in Decree 15 and taking effect in 2015 creates a
legal framework to attract more private investment in the development of
infrastructure in the nation.
The
PPP Monitor outlines the key advances in the PPP framework which include
enabling availability/performance-based payment schemes; removing the
previous limit on viability gap funding of 49% of total investment cost;
enabling wider scope of infrastructure projects to be procured as PPP; and
establishing processes for PPP project identification, appraisal and
approval.
From
1990 to 2016, the country closed 84 PPP projects amounting to US$16.2
billion, with 79% of the projects in the energy sector. However, no PPP
projects have been implemented under this latest framework.
The
PPP Monitor finds that current challenges include foreign lenders’ security
issues, as the framework for credit enhancements and guarantee mechanisms
remains unclear, and restrictions on mortgage over land-use rights in favor
of foreign banks where land is conferred on a rent-free basis.
The
Public-Private Partnership Monitor tracks the development of the PPP business
environment across ADB member countries and provides insights for governments
on structuring a sound environment for PPP.
The
report aims to benefit both policymakers and investors by providing in-depth
information and data on the business environment for PPP over time, enabling
infrastructure developers to assess opportunities across countries and
sectors.
Annual
updates to the report will flag important reforms that could attract or deter
investors, allowing policymakers to monitor progress in the PPP environment.
Local enterprises complain about tax, customs policies
Despite
many administrative procedure reforms, enterprises said complex tax and
customs procedures have hindered their operations, Lao Dong newspaper
reports.
At
an annual meeting between the Ministry of Finance and enterprises on November
27, many complaints were heard on tax and customs procedures and policies.
Doan
Duy Khuong, vice chairman of the Vietnam Chamber of Commerce and Industry
(VCCI), said rapid changes on tax policies have caused difficulties for
enterprises while procedures to heavily penalize enterprises incurring tax
debts remain complicated.
Many
enterprises said they could not send their tax data to tax authorities online
as the system often reports errors.
Besides,
tax agencies in many instances conduct late inspections, which should have
been done five to ten years earlier, and after detecting these enterprises
have not fulfilled their tax obligations, they slap steep fines and caused
huge losses for enterprises.
Enterprises
also complained about vague solutions by competent agencies to their
problems. When asked for specific instructions to problems encountered by
enterprises, such agencies simply offer them circulars and decrees as
references, instead of giving details.
Customs
officials’ behavior, asynchronous cooperation between customs agencies and
relevant ones, and long time to implement procedures are other shortcomings
of the sector.
VCCI
proposed the Ministry of Finance review and amend legal documents, clearly explaining
customs procedures to enterprises.
Khuong
of VCCI said feedback from companies has been reported to the Ministry of
Finance, the General Department of Taxation and the General Department of
Vietnam Customs for review.
Saigon Co.op opens first Co.op Food stores in Hanoi
The
Saigon Union of Trading Co-operatives (Saigon Co.op) on Saturday opened the
first two convenience food stores Co.op Food in
Co.op
Food Hapulico store is located at 1 Nguyen Huy Tuong Street in Thanh Xuan
District, and Co.op Food Bac Ha store on the first floor of Block CT2 of Bac
Ha C14 Building on To Huu Street in Nam Tu Liem District. The two stores each
stock about 4,000 essential goods and fresh food.
In
addition to Hanoi’s specialties like Bao Minh young rice cake and Hoa Lam
jam, the stores also sell specialties of other provinces like grapefruit and
coconut candy from Ben Tre, seedless grapes from Ninh Thuan, and dragon fruit
from Phan Thiet.
The
stores are open from 6 a.m. to 9 p.m. daily, offer telephone order service
and home delivery, and accept payments by debit and credit card, gift
voucher, and privilege for VIP customers like other Co.op Food stores in
HCMC.
With
20-30 stores opened every year, Saigon Co.op now has 181 Co.op Food stores in
HCMC and
Local mechanical firms decry unfair tax policy
Vietnamese
mechanical enterprises are at a disadvantage as they are subject to a 10-15%
tax rate on imported equipment while foreign-made machines are exempted from
import duty, said Do Phuoc Tong, chairman of the HCMC Association of
Mechanical Engineering.
At
a press conference on the 15th Vietnam International Trade Fair 2017 (Vietnam
Expo 2017) and Vietnam Hardware & Hand Tools Expo 2017 last Friday, Tong
said the policy has made production costs of local enterprises surge, so they
find it hard to compete with overseas rivals.
Local
enterprises and international investment funds are not interested in the
sector due to small profits, Tong added.
It
is highly risky for local enterprises to make new investments because they
have to face fierce competition from foreign firms.
Meanwhile,
foreign mechanical companies, such as those from
As
a result, Vietnamese mechanical firms have to find opportunities in foreign
markets. Several local enterprises have supplied precision components to
foreign aircraft and metro manufacturers as they find it difficult to cut
local deals.
Tong
highly valued local manufacturers’ capacity and techniques, saying they have
managed to export mechanical products and components to many countries
worldwide.
He
expressed his concern over opportunities for Vietnamese enterprises to be
involved in foreign investment projects in
Therefore,
Tong proposed
Vietnam
Expo 2017 and Vietnam Hardware & Hand Tools Expo 2017 will be held by the
Vietnam National Trade Fair and Advertising Company (Vinexad) at the Saigon
Exhibition & Convention Center (SECC) in HCMC from December 6 to 9.
Vietnam
Expo 2017 will feature 800 booths of 750 enterprises from 16 countries and
territories such as
They
will showcase their electric and electronic products, technological toys,
machinery and components, building materials, hardware, hand tools, and
indoor and outdoor furniture, food and beverages and beauty care products.
Meanwhile,
Vietnam Hardware & Hand Tools Expo 2017 has attracted 200 firms from 16
countries and territories to display tools, DIY (Do It Yourself)-building
hardware, and locks-fittings among others.
Three
Mekong Delta provinces, Long An, Tien Giang and Dong Thap, have called on
investors to develop 16 agriculture projects worth trillions of Vietnam dong,
heard an investment promotion conference in Long An last Saturday.
The
Long An government calls for investments in nine agriculture projects worth
VND3.52 trillion (US$155 million). Notably, a lemon processing project with a
material growing area of 550 hectares in Ben Luc District requires a total
investment of VND1 trillion, according to the organizer of the event.
Meanwhile,
Tien Giang Province put forth four projects worth over VND1.5 trillion
(US$66.2 million), especially a hi-tech agricultural park project spanning
197 hectares in Chau Thanh and Tan Phuoc districts worth VND1.2 trillion.
Dong
Thap is in dire need of capital for three projects, with one for a logistics
center and a wholesale fruit market, and the other two for hi-tech
agriculture sub-zones in Sa Dec City and
Nguyen
Van Duoc, vice chairman of Long An Province, said the local government will
further improve their investment environment, and develop infrastructure
within and beyond industrial parks in order to facilitate agricultural
production.
“We
also further administrative reform and train (local) manpower in a bid to
meet the requirements of enterprises. The provincial government is willing to
create favorable conditions for investors,” he stressed.
Dinh
Thi Phuong Khanh, deputy director of Long An Province’s Department of
Agriculture and Rural Development, told the Daily on the sidelines of the
conference that the provincial government will shorten the time to allocate
land, and offer tax and land rent incentives for investors.
Besides,
she said, the local government is carrying out breakthrough programs in order
to promote the development of the hi-tech agriculture sector.
Delegates
at the conference witnessed the signing of seven memorandums of understanding
on product consumption and business cooperation among local organizations.
Binh Duong aims to enter Smart21 Communities
The
government of
The
provincial government last week held a press briefing on the 2017 Binh Duong
Smart City Conference in order to implement the
Mai
Hung Dung, vice chairman of
The
provincial government plans to apply the “Triple Helix” model of the
Based
on the experience of
The
vice chairman said the province has come up with a series of action plans in
order to implement a social-economic strategic program called “Binh Duong
Navigator 2021” which is the sister of the “Triple Helix” model.
He
added many projects which are related to education and training, scientific
research, startups and urban modernization have been set up so far.
He
stressed the province is always striving to promote its creative dynamics,
update new trends, and learn experiences and knowledge from global leaders
and experts, as well as appreciate the role of cooperation.
Samsung opens R&D center in HCMC
Samsung
last Friday inaugurated a research and development (R&D) center and an
executive briefing center (EBC) at the Saigon Hi-Tech Park (SHTP) in HCMC’s
District 9.
The
center is developing techniques relating to washing machines, vacuum cleaners
and fridges.
At
the opening ceremony, Le Hoai Quoc, head of the SHTP authority, said the city
government and the SHTP authority highly evaluated Samsung Electronics
Vietnam for the new R&D establishment and considered it an essential
condition to grant the investment certificate.
As
much as US$600 million has been invested in machinery and equipment of the
center, excluding costs for office construction. Covering some 5,000 square
meters, the center is responsible for advanced technology research and
application to develop Samsung’s traditional products.
The
center has employed nearly 400 staff and the number will increase to 500 by
2020, mainly Vietnamese employees.
Quoc
believed Samsung’s project to develop hi-tech electronic and telecom products
would help promote foreign investment in Vietnam, train high-quality
workforce, apply and transfer technology, build links with domestic
enterprises to develop supporting industries and make good use of advantages
for mutual benefits.
SEHC
with an investment of US$2 billion is the continuation of the Samsung Vina
project with a larger scale.
SEHC
manufactures household appliances such as smart TVs, LED TVs, screens,
air-conditioners and washing machines which have been exported to 65
countries to bring annual revenue of billions of U.S. dollars. This is the
biggest foreign direct investment project at SHTP.
In
March last year, Samsung Electronics Vietnam received an investment
certificate for an R&D center worth US$300 million in Hanoi to research
and develop hi-tech electric, electronic and telecom products.
Meanwhile,
the EBC in HCMC’s SHTP is seen as Samsung’s biggest in
Flights to Can Tho may get compensation for losses
The
government of Can Tho City has proposed using the State budget to offset
losses incurred by airlines opening new routes to the city, Tuoi Tre
newspaper reports.
In
a document submitted to the municipal People’s Council, the city government
suggested it would use the State budget to pay 30% of ticket prices of
flights departing from Can Tho International Airport.
The
subsidy aims to encourage airlines to open new domestic and international
routes to and from Can Tho to meet the travel demand of residents of Can Tho
City and the Mekong River Delta as a whole, boost the development of tourism,
trade and service, and contribute to improving the efficiency of Can Tho International
Airport.
Airlines
that might be offered the subsidies include those that incur losses on new
routes while following exactly the flight frequency as committed. In case
airlines could not maintain the committed flight frequency, they will have to
refund the financial support.
For
domestic flights, airlines should commit to operate new routes with a
frequency of at least three flights per week in at least three years. For
international flights, they have to open and operate new routes with a frequency
of a minimum of two flights per week in at least three years.
According
to the city government, Can Tho International Airport was put into service in
early 2011 with total capacity of 3-5 million customers per year, but the
amount of customers only reached more than 550,000 in 2016 and is estimated
at about 610,000 in 2017, accounting for 20% of the designed capacity.
Currently,
the airport handles only four domestic flights, connecting Can Tho with
November CPI up 0.13 percent: GSO
The
Consumer Price Index (CPI) was up 0.13 percent over the previous month with
the sharpest increase in traffic group hitting 0.68 percent because of petrol
price hikes on November 4 and 20, reported the General Statistics Office of
Vietnam (GSO).
The
index was up 2.38 percent over December 2016 and 2.62 percent over the same
period last year.
Medicine
and health group increased 0.2 percent. Of these, health service raised 0.23
percent because two provinces raised the service's prices to those without
health insurance cards.
Garment
items, hats and footwear surged 0.15 percent. Food and restaurant soared 0.11
percent. Other goods and services moved up 0.14 percent.
During
the first 11 months this year, the CPI hiked 3.61 percent compared to the
same period last year.
Core
inflation in November raised 0.06 percent over October and 1.28 percent over
the same period last year. It was 1.42 percent year on year increase during
the first 11 months this year.
VN & German agree cooperation in marine services
Hamburg
delegation led by Senator Frank Horch, Minister of Economy, Transport and
Innovation visited Vietnam Maritime Administration (Vinamarine), Vietnam
Shipbuilding Industry Corporation (SBIC) and MOIT in Hanoi on November 27.
During
this visit, Senator Horch witnessed the memorandum of understanding (MOU)
signing ceremony between SBIC and Maritime Cluster North Germany for the
future cooperation and technology transfer.
Other
topics were also mentioned at the meeting including cooperation opportunities
in marine services, port construction, logistics services, ship building
technology and training & education. This visit created the hope to
maximize the opportunity to exchange information, share ideas and enhance the
business relationships between
Lotte to open second duty-free shop in
Lotte
Duty Free, the travel retail company of the
According
to the company, it has been granted permission, valid until 2028, to open a
duty-free store at the new terminal of the
The
new store is hoped to earn revenue of up to 700 billion KRW (664 million USD)
in the next 10 years.
Lotte
Duty Free opened a similar store at
Lotte
Duty Free is the travel retail arm of RoK conglomerate Lotte Group, with six
duty-free stores in
Nearly 11,000 new firms established in November
Close
to 11,000 enterprises were established with a registered capital of 109.9
trillion VND (4.8 billion USD) in November, data of the Ministry of Planning
and Investment revealed.
This
was a decrease of 2.1 percent in the number of newly-established businesses
and 7.8 percent in registered capital, as compared to the previous month.
Of
these, the number of enterprises resuming their operation in November was
1,338, an increase of 0.7 percent against October.
Overall,
in the first 11 months of this year, the total number of newly-established
enterprises and businesses returning to operation was 140,394, with a total
registered capital of 2.71 quadrillion VND.
The
average registered capital for each business in the January – November period
was 9.8 billion VND, a year-on-year increase of 24.3 percent, while the
figure in November only was 10.1 billion VND, down 5.8 percent over the
previous month.
The
number of labourers in the newly-established enterprises was over one million
people, down 8 percent against the same period last year.
In
the past 11 months, the number of enterprises concentrated mainly in the
fields of wholesale, retail, automobiles and motorbikes repairing was 41,627,
accounting for 35.9 percent; the processing and manufacturing industry had
14,846 enterprises, making up 12.8 percent; the construction sector had
14,695 enterprises, or 12.7 per cent; and science, technology, consulting
services, design and advertising had 8,663 new enterprises, equivalent to 7.5
percent of the total number.
Regarding
registered capital, from January to November, the real estate sector had the
highest registered capital of over 314 trillion VND, accounting for 27.8
percent, followed by wholesale, retail, automobiles and motorbikes repairing,
worth more than 182 trillion VND, accounting for 16.1 percent, while the
construction sector had a registered capital of 155.3 trillion VND, making up
13.7 percent.
VN projected to be growth outperformer among ASEAN nations
According
to a report released by Fitch last Friday,
Meanwhile,
According
to Fitch, Southeast Asian countries’ economic prospects look bright in the
coming years, supported by greater regional integration, better transport
connectivity and continued reform momentum.
Citing
the Regional Comprehensive Economic Partnership and
Ha Giang attracts $706 million in investment
The
northernmost mountainous
Speaking
at the Ha Giang Investment Promotion Conference, Prime Minister Nguyen Xuan
Phuc praised the province’s socio-economic development achievements, such as
poverty reduction by 5 per cent annually, growth of 7 per cent in gross
regional domestic product, forest coverage of more than 55 per cent and contribution
to the budget worth VND2 trillion, despite its disadvantageous geographical
location.
Phuc
also said he was impressed with the efforts of applying information and
technology by local authorities, boosting e-commerce, tourism and preserving
nature.
“Businesses
play an important role in turning Ha Giang into a rich but sustainable
province and accelerating tourism in the northwest region, as well as the
entire tourism industry of
“What
investors are doing today will not only contribute to enhancing the living
standards of ethnic communities in Ha Giang but also lead to breakthroughs in
the development of remote border areas.”
“Thus,
Ha Giang will need more big investors,” Phuc said.
He
said good business models and projects with inclusiveness and spillover
effects, which provide jobs and stable incomes for local residents, should be
targeted. This is key for the rise of the northwest region in general, and Ha
Giang Province in particular, adding that the province had significant
potential and competitive advantages in agriculture, medicinal plantation,
tourism and border trade.
“Ha
Specially,
Ha Giang should focus on boosting tourism through diversifying tourism
products, developing community-based tourism, restoring and promoting
traditional festivals and cultural values.
The
province, which aims to become a key tourist attraction by 2020, has majestic
mountain landscapes and a UNESCO-recognised global geological park, as well
as 19 ethnic groups living together with attractive festivals, natural and
cultural heritages. The number of tourist arrivals to the province has risen
consistently, and is estimated to reach one million with a revenue of VND950
billion this year.
With
famous specialties such as oranges, honey, tea and medicinal plants, Phuc
urged the province to study policies to boost hi-tech and organic
agricultural production together with building brands.
Nguyen
Van Son, Chairman of the provincial People’s Committee said that the province
was providing incentives to investments in border trade, agricultural
production and tourism.
On
the same day, Phuc had a working session with the provincial Standing
Committee of the Party to tackle difficulties and create conditions for
further socio-economic development.
He
also visited Thanh Thuy International Border Gate
Yesterday
afternoon, PM Phuc attended the ground breaking ceremony for dairy firm TH
Truemilk’s cow breeding and hi-tech milk processing plant, worth VND2.5
trillion, in Vi Xuyen District’s Phong Quang Commune.
Phuc
said that the project’s location in a remote area was important to
socio-economic development and would bring benefits to local residents and
contribute to the restructuring of the agricultural sector.
The
project would have a capacity of raising 10,000 heads of cattle, together
with a raw material plantation area of 663 hectares plus 2,000 hectares of
local farmers. The plant would apply advanced farming and management
technologies from
The
project is expected to create jobs for 500 direct labourers and thousands of
indirect labourers.
This
is the first huge dairy farm and hi-tech milk processing project in the
northern border provinces, which will have a radical impact on livestock
farming in the region.
Vietnamese confectionary giant attend FoodPro 2017 in
Bangladesh
Excellent
taste and eye-catching packages have made products of the Huu Nghi
Confectionery Joint Stock Company come in favour of visitors at the
International Exhibition & Conference on Food & Beverage Products,
Processing, Packaging Machinery & Allied Technologies (FoodPro 2017).
The
Huu Nghi company is among 250 enterprises from 16 countries attending the
event which ran from November 23-25 in Dhaka capital,
The
company brought along various kinds of cakes to the exhibition to introduce
made-in-Vietnam products to international friends as well as grasp taste of
consumers in
Visiting
the company’s booth, Vietnamese Ambassador to Bangladesh Tran Van Khoa lauded
its participation in the FoodPro while stressing that the
Chairman
of the Bangladesh Agro-Processors’ Association (BAPA) AFM Fakhrul Islam
Munshi said that he was impressed by Vietnamese confectionary products and
expressed his hope that Vietnamese food companies will enhance investment and
enlarge business in Bangladeshi market.
Attending
the FoodPro 2017, the Huu Nghi company had chance to meet 100 food
corporations from
As
part of efforts to support Vietnamese businesses to enter the Bangladeshi market,
the Vietnamese Embassy in
Outstanding farm products honoured
A
total of 157 high-quality agricultural products and 25 outstanding companies
were honoured at a ceremony held by the Vietnam Farmers’ Union in
Addressing
at the ceremony, head of the Party Central Committee’s Economic Commission
Nguyen Van Binh praised the individuals and organisations for their products
honoured this time as well as the union’s initiative to launch the programme.
As
Vietnam is integrating deeply into global economy with a slew of commitments
to new generation agreements as well as bilateral and multilateral deals,
Binh urged relevant ministries, localities and farmers to shake up the
agricultural sector towards increasing added value, sustainable development
and modern new style rural area building.
He
stressed that farmers, cooperatives and businesses should promote
science-technology application into agricultural production to ensure quality
and hygiene of the products while participate in global and regional value
chain to ensure national food security and improve rural livelihoods.
According
to Chairman of the Vietnam Farmers’ Union Lai Xuan Mon, the programme was
launched in all 63 provinces and cities, with 181 agricultural products being
nominated.
The
honoured products were categorised into three groups: farming products,
processed products and products serving agriculture, he said.
He
affirmed that the event, the fourth of its kind, not only honoured
outstanding agricultural products but also served as a platform for
individuals, organisations and businesses to cooperate and introduce products
and advanced technology to the community.
Uber and
Uber
today officially became the strategic partner of Vietnam-based mobile
electronic payment platform MoMo, with the intent of integrating a wholly
digital payment experience into the leading ride-hailing online application.
Consequently,
this alliance will likely deliver a never-before-seen transportation service
by fusing taxi-hailing with a cashless payment method supported by
Prior
to this co-operation with MoMo, Uber
Thanks
to the participation of MoMo, from now on, Uber subscribers will be spared
the hassle of connecting their existing banking accounts with the payment
option in the digital application. MoMo’s e-wallet would enable synchronised
payments and save a substantial amount of time for Uber’s customers.
Previously,
on November 15, MoMo made a long-term commitment with taxi firm Vinasun to
provide a smart and cashless taxi-riding experience.
Also
on November 15, VietinBank officially shook hands with MoMo e-wallet to
accelerate mobile transactions, especially for members of the domestic credit
programme called E-Partner, which is now directly linked with MoMo.
Earlier,
in 2015, MoMo partnered with Standard Chartered to launch the Straight2Bank
wallet payment in
To
date, MoMo electronic wallet could receive deposits from accounts at 11 banks
and via international cards and can enable topping up at more than 5,000 MoMo
transaction points within
MoMo
is
Grab commits to long-term investment in Vietnam
Grab
co-founder Tan Hooi Ling affirmed that the ride-hailing firm would continue
to invest in
Ling
told local press last week that Grab is specialised in researching and
developing applications in technology-based platforms. Grab is always looking
to partner with local governments to develop the most efficient
transportation and mobile payments for Vietnamese customers.
With
the development of a research and development (R&D) centre in
Grab’s
two-year pilot programme will be finished in January 2018. Regarding this
matter, Ling expressed gratitude to the Vietnamese government. When the pilot
project started two years ago,
To
tackle traffic congestions, Grab plans to launch Grab Shuttle in the country
to better utilise vehicle capacity. Grab Shuttle can increase the number
of passengers to seven people in a small bus. Grab Shuttle uses algorithms
to arrange suitable routes for customers who are travelling at the same
direction and at the same time. Following a local debut in
Meanwhile,
JustGrab has been launched in
The
co-founder stated that Grab not only provides quick and safe rides to
customers but also offers them better access to vehicles. The ride-hailing
firm continues its efforts to develop sustainably in
According
to Ling, Grab has been active in
“In
addition to creating thousands of new jobs in
To
move
In
the first ten months of 2017, Grab has contributed nearly VND140 billion
($6.16 million) to the Vietnamese state budget, according to Ling.
In
addition to ride-hailing services, Grab plans to launch its mobile wallet
payment system known as Grab Pay in
“Grab
has been working in collaboration with several banks in
Hải Phòng hosts exhibition on energy saving
The
International Exposition on Technologies and Products for Energy Saving and
Environment Protection (E&E Expo Hải Phòng 2017) kicked off on Wednesday
in the northern city of
The
exhibition aims at introducing the achievements of technology development and
energy saving solutions, promoting products, seeking partners to expand the
production market and finding distribution agents for domestic and foreign
enterprises.
It
has attracted the participation of around 100 booths and outdoor display
areas of domestic and international companies, introducing energy saving
products, renewable energy, nuclear energy and household electrical
appliances, as well as industrial equipment and environmentally friendly
products.
In
addition, the exhibition is also a space for businesses and experts to
provide solutions on energy saving and environmental protection for daily
life and business production, contributing to the propagation and raising of
public awareness on economical and efficient use of energy for people,
organisations and enterprises.
The
event is held at Việt
Work starts on large milk production project in Ha Giang
TH
Group, the owner of TH True Milk brand, on November 27 began work on a
hi-tech project to farm dairy cows and process milk worth VND2.5 trillion
(US$110 million) in the northern mountainous province of Ha Giang.
According
to the Government news website, the project which will be developed in Vi
Xuyen District will develop a herd of 10,000 cows and a material cultivation
zone of 2,663 hectares. The project will help create jobs for 500 people
working directly at TH Group’s project and thousands of others providing
cows’ feed and other services.
This
is the first time such a large milk production project has been developed in
the area.
The
most advanced farming technology of
Speaking
at the groundbreaking ceremony, Prime Minister Nguyen Xuan Phuc showed his
impression at the project, highlighting its significance to local
socio-economic development and will help restructure the agriculture sector
of the province.
Deputy PM: Counterfeit products prevention ineffective
Counterfeit
goods still flood the market although authorities have launched many
anti-counterfeiting programs over the past 10 years, according Deputy Prime
Minister Truong Hoa Binh.
Addressing
a ceremony to mark the 10th anniversary of Vietnam Anti-counterfeit Goods Day
organized in HCMC on November 27, Binh said not only small enterprises but
also large ones have been found producing and selling copycats to customers.
According
to Phap Luat online newspaper, counterfeit products have eroded customer
confidence in both Vietnamese enterprises and products. Therefore, there
should be more drastic measures to tackle the selling and manufacturing of
counterfeit goods.
The
Deputy PM stressed that anti-counterfeit and market surveillance agencies
should pay more attention to e-commerce and online shopping as a great source
of copycats that has not been closely managed, in addition to traditional
shopping channels.
Border
forces should carefully check the origin and labels of goods at the borders,
ensuring that counterfeit goods are detected before they are imported into
the country.
Speaking
at the ceremony, Nguyen Thanh Hai, deputy general director of Binh Minh
Plastics JSC, said the company has faced lots of difficulties in protecting
its brand and products due to the ineffective control of intellectual
property infringements and counterfeit goods on the market.
“The
flood of counterfeit goods has affected the reputation of enterprises and
health of the customers,” Hai said.
Takimoto
Koji, chief representative in
According
to Le The Bao, chairman of the Vietnam Association for Anti-counterfeiting
and Trademark Protection (VATAP), combating the selling and manufacturing of
counterfeit goods requires the participation of the whole society, with heavy
sanctions against violators.
The
functional agencies must become reliable addresses for enterprises and people
to contact and coordinate with in the fight against counterfeit goods and
intellectual property rights infringements.
VNN
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Thứ Sáu, 1 tháng 12, 2017
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