Although Vietnam has stepped up exports to ASEAN, the country ran a trade deficit of US$6.51 billion with the region last year, according to data of the General Department of Vietnam Customs.
Vietnam’s trade with other ASEAN countries totaled US$49.53 billion last year, up 19.6% over 2016 and accounting for 11.7% of the country’s total foreign trade. Export growth outpaced import growth but the country still incurred a yawning trade deficit with the region.
The country exported US$21.51 billion worth of products to other Southeast Asian countries, growing 23.9% against the previous year, while imports grew by 16.4% year-on-year to US$28.02 billion.
The surge in exports to ASEAN is thanks to higher export revenues from mobile phones and phone parts (up US$948 million), iron and steel products (up US$722 million), computers, electronic products and components (up US$488 million), crude oil (up US$378 million), and textiles-garments (up US$181 million).
Meanwhile, Vietnam spent US$28.02 billion importing products from such neighbors last year. Major imported commodities that saw fast increase last year included fuels (up US$873 million), vegetables and fruits (up US$464 million), machinery, equipment, tools and components (up US$313 million) and completely built-up autos (up US$307 million).
Thus, the trade deficit with ASEAN last year is below US$6.7 billion recorded in 2016.
Among ASEAN members, Vietnam incurred the biggest trade deficit of US$5.88 billion with Thailand, followed by Singapore with US$2.34 billion and Malaysia with US$1.65 billion. Meanwhile, the country enjoyed the biggest trade surplus of US$1.76 billion and US$1.68 billion with Cambodia and the Philippines respectively.
FPT School of Business (FSB) will join hands with U.S.-based College of Staten Island (CSI) to open a training course named “Global Leadership Program,” which is expected to begin on April 22.
The three-month course will take place in both Vietnam and the U.S., with the first part to be undertaken by FSB in Vietnam. Students will be provided with knowledge of “Leaders’ thinking in the new era” and “Managing in globalization” with detailed content.
Specific topics include introduction to modern management, habits for success, management of organization and human power in globalization, accounting and finance for leaders, and creating and developing corporate culture among others.
The course is planned to continue in the United States on June 2 undertaken by CSI.
The 10-day term stateside includes field trips to successful companies in Eastern and Western states like New York, Philadelphia, Washington DC, Las Vegas, San Diego, and Los Angeles.
The fee is VND148 million, inclusive of roundtrip airfares, training material, translation, and insurance alongside other services.
With 20 years of experience in training business management, FSB is one of a few schools in Vietnam achieving five stars in teaching quality from Quacquarelli Symonds rating system. FSB has also won the third place among the best business management universities in Vietnam in Eduniversal 2016.
Chemical firm to up foreign ownership
Đức Giang-Lào Cai Chemicals JSC, listed on the HCM Stock Exchange as DGL, plans to increase the limit on foreign ownership from zero to 49 per cent.
The plan aims to attract more capital, improve the liquidity for the firm shares on the stock market and serve further business development.
The company’s management board will propose the plan at the upcoming annual shareholders’ meeting, taking place on March 29 in the northern province of Lào Cai, approve the company’s request to withdraw from some of the business sectors involved in the production and trading of minerals, mineral oil and distilled products, bituminous substances and mineral waxes.
In 2018, DGL will be merged with Đức Giang Chemicals & Detergent Powder JSC (DGC) under the merger plan approved during DGL’s General Meeting of Shareholders in December 2017.
In terms of production and business, the company set a target of VNĐ5.2 trillion in total revenue for 2018, up 11.5 per cent against 2017. Pre-tax profit is expected to reach VNĐ450 billion and dividend payout is projected to be 15 per cent.
DGL expects to produce 40,000 tonnes and export 34,000 tonnes of yellow phosphorus with a total value of VNĐ2.1 trillion. Revenue from the sales of monoammonium phosphate (MAP) fertiliser products is expected to reach VNĐ581 billion and that from Dicalcium Phosphate DCP animal feed is estimated to reach VNĐ455 billion.
In 2017, DGL’s total revenue reached VNĐ4.6 billion, achieving 94.5 per cent of the yearly plan. Particularly, revenue from yellow phosphorus touched nearly VNĐ2 trillion.
The company earned VNĐ386 billion in post-tax profit, surpassing 3 per cent of the yearly target.
Hyundai Motors to open VN plant
Automaker Hyundai Motor, Thành Công Group and the People’s Committee of Ninh Bình signed a memorandum of understanding (MoU) to construct the second automobile plant in the northern province of Ninh Bình.
The MoU, which was signed on Thursday, demonstrates the efforts and actions of Thành Công Group and Hyundai Motors to invest and expand the assembly of Hyundai cars in Việt Nam.
The current joint venture factory between Thành Công Group and Hyundai Motors, named Hyundai Thành Công Commercial Vehicle, has a total capacity of producing over 60,000 units per year. Currently, the factory is producing and assembling vehicles such as Hyundai SantaFe, Elantra, Grand i10, Tucson and New Porter 150.
Thành Công Group president Nguyễn Anh Tuấn said his group would strive to invest capital, expand production scale, improve product quality and contribute to the development of the automobile industry in Việt Nam.
With the construction of the second automobile assembly plant, the corporation would bring to the market the latest eco-friendly model and help Vietnamese consumers get quick access to the achievements of the world automotive industry.
Byung Kwon Rhim, vice president of International Sales Division-Hyundai, said his firm saw opportunities and growth potentials of the Vietnamese market in Southeast Asia. This will be the basis for Hyundai Motors to promote and expand in the Asia Pacific region, with the centre being Việt Nam, he said.
Along with the expansion of production scale, the joint venture also committed to expand the distribution system and improve service quality across the country. It will also help to develop the Hyundai car brand in a sustainable way not only in sales but also in meeting the satisfaction of consumers.
Việt Nam National FinTech Day in May
The State Bank of Việt Nam (SBV) will organise the National FinTech Day in May.
This is the first major event of FinTech in the country, with the participation of FinTech management agencies, the start-up community, commercial banks, experts from Việt Nam, as well as foreign countries.
Speaking at the Việt Nam-Korea Financial Co-operation Forum on March 22, SBV’s governor Lê Minh Hưng stressed that the industrial revolution 4.0 is causing a boom in technology, bringing many opportunities, creating added value and is a great driving force for economic development.
Banking and finance is a pioneer sector in rapidly adopting and applying the superior features of technology solutions to enhance innovation, improve products and services, and reduce costs, thereby bringing benefits to customers, he said.
“On the other hand, the financial and banking system may face many challenges due to the presence of machines and automation solutions, competition from FinTech companies or new risks from the technology environment,” the governor said.
At the forum, Nguyễn Toàn Thắng, general secretary of the Việt Nam Banks Association, said that in the global trend, banking is one of the sectors witnessing a strong impact from the industrial revolution 4.0, which requires a lot of changes from banks to keep up with the development of technology and to meet the demands and expectations of customers.
Vinamilk, Hậu Giang Pharmaceutical join hands for RD
Vietnam Dairy Products Joint Stock Company (Vinamilk) and Hậu Giang Pharmaceutical Joint Stock Company (DHG Pharma) on March 22 agreed to cooperate in product research and development.
The aim is to meet consumers’ needs of healthcare and bring new values to the community.
This is an important milestone, marking a new direction in the promotion of strategic cooperation on product development, business and distribution between two of Việt Nam’s leading companies in pharmaceutical and nutrition industries.
Under the strategic partnership, DHG Pharma and Vinamilk will jointly build new co-brand products or develop existing ones to serve the healthcare needs of people from all walks of life.
The two firms will also coordinate in supplying raw material to produce supplementary food products, utilising the strengths of each other’s distribution capacity to help people easily access and consume nutritional and healthy products.
In addition to this, the two companies will help each other seek partners and customers as well as introduce scientific research to create new values, aiming to provide consumers at home and abroad with products with international quality.
Speaking at the signing ceremony, Vinamilk General Director Mai Kiều Liên said Vinamilk’s mission was to bring high-quality nutrition to the community.
Vinamilk has always pioneered in partnering with prestigious national and international corporations to develop and apply achievements in nutritional science and health in its products, she said.
Cooperation with DHG Pharma is also a solid step in the strategy to combine the strengths of both sides towards the goal of introducing Vietnamese consumers to locally made products with international quality, she added.
Đoàn Đình Duy Khương, acting general director of DHG Pharma, said the application of scientific and technological advances to the production line not only contributed to raising competitiveness in the market but also showed the responsibility of DHG Pharma towards the community.
Long-term orientation of DHG Pharma is to join hands with scientists, in collaboration with institutes and schools, he said, adding that the company had also signed a scientific cooperation agreement with the Institute of Biotechnology for research and development of products.
DHG Pharma’s signing with Vinamilk is also one of the strategies to help people easily access healthcare services and quality products.
“DHG Pharma believes that this partnership is a step towards creating new values and new products that fit people’s needs of healthcare, nutrition and physical improvement,” Khương said.
Kiên Giang to develop sustainable industrial sector
Kiên Giang Province plans to improve the industrial sector by 2030 by making it more sustainable, efficient and environmentally friendly.
The province said it would try to integrate more into the country’s industrial production network, as well as focus more on production and export of cement, textiles, garments and leather.
Kiên Giang also wants to attract more foreign investors and provide financial aid to hi-tech businesses that could contribute to industrial reform.
In addition to improving infrastructure, the province will develop its industrial clusters and zones, and small craft villages, as well as conduct research on more environmentally friendly technologies.
Smaller regions within the province will focus more on their strengths. For example, Long Xuyên Quadrilateral region will focus on mineral harvesting, construction materials, and agricultural product exports; Tây Sông Hậu on agriculture, textile and garments, leathers and mechatronics; and U Minh Thượng on fishing, aquaculture and electricity.
According to the province’s Department of Industry and Trade, the province targets reaching an industrial production target of VNĐ221 trillion (US$9.7 billion) and an industrial sector development fund of VNĐ450 trillion by 2030.
PV Power replaces PetroVietnam as power plants investor
The Vietnam National Oil and Gas Group, known as PetroVietnam, has proposed transfering two gas-fuelled power plants – Nhơn Trạch 3 and 4 – to PetroVietnam Power Corporation (PV Power), according to the Government Office.
The transfer aims to reduce pressure on the group to arrange the necessary capital, in order to focus on other major State-owned coal, oil and gas projects, PetroVietnam said.
In September 2017, the Ministry of Industry and Trade had requested the Prime Minister reduce pressure on PVN regarding investment capital in several key thermal power projects including Long Phú 3, Nhơn Trạch 3 and Nhơn Trạch 4.
Should PV Power choose to contribute 100 per cent of owner’s equity in the two projects, it will have to mobilise VNĐ2.39 trillion ($106.4 million) worth of development investment funds, while divesting up to VNĐ4.6 trillion ($204.8 million) from its subsidiaries and increasing its chartered capital via additional share issuances in the next three years, up to VNĐ2.9 trillion ($129.1 million).
This is an increase from PVN’s previous plan to mobilise around 30 per cent of the estimated owner capital, at VNĐ9.9 trillion ($440 million), and take out loans worth about VNĐ23.3 trillion ($1.03 billion) for the rest.
With an estimated total investment of VNĐ33.3 trillion (US$1.48 billion), the two liquid natural gas-fuelled power plants have a yearly capacity of 750-800MW each. They are set to be operational by 2020.
PV Power also hinted at entering a joint venture with other investors, holding 51 per cent of total equity.
However, according to the Ministry of Industry and Trade, the establishment of a joint stock company may mean delayed construction, hindering the objective of providing power for Southern regions.
PV Power has a charter capital of VNĐ21.7 trillion, currently operating eight power plants nationwide with a combined annual capacity of 4,208 MW.
Vietnam Startup Wheel 2018 open to all contestants
Viet Nam and Oman look to foster cooperation
Viet Nam and Oman are seeking to boost co-operation to reach its full potential, heard attendants of the third meeting of the Joint Committee on Economic and Technical Co-operation (JCETC) between Viet Nam and Oman held in Ha Noi on Friday.
The two sides reviewed the socio-economic development of each country as well as progress towards implementing the plans made at the second meeting in 2014. Vietnamese Minister of Industry and Trade Tran Tuan Anh and Omani Minister of Commerce and Industry Ali bin Masoud Al Sunaidy attended.
Viet Nam and Oman agreed to focus on negotiations to sign a visa exemption agreement for holders of diplomatic and official passports to facilitate travel between the two countries. In addition, they pledged to enhance co-operation between the two ministries to help businesses of each country access their markets.
Viet Nam and Oman also plan to increase co-operation between the Vietnamese Chamber of Commerce and Industry (VCCI) and the Omani Chamber of Commerce and Industry (OCCI) to encourage the business communities of the two countries to actively exchange information, carry out market surveys and trade promotion activities, and attend trade fairs, exhibitions and investment events.
The two sides also aim to exchange information relating to trade policies, import-export regulations, market demand, trade opportunities and investment projects in each country.
Viet Nam and Oman will study strategies to expand co-operation in sectors such as petroleum, finance, banking, labour, agriculture, seafood, transport, culture and tourism.
Concluding the event, the two ministers signed the minutes of the third meeting.
The day before, sixty local firms and 10 Omani enterprises operating in various fields sought investment partnerships at a Viet Nam-Oman business forum held in Ha Noi by the Ministry of Industry and Trade (MoIT), the VCCI and the Vietnam-Oman Investment (VOI) joint-venture.
Addressing the seminar, MoIT Deputy Minister Cao Quoc Hung called on Oman to organise more visits of enterprises to Viet Nam to explore trade and investment opportunities. He urged Vietnamese firms to pay more attention to studying the Oman market through field trips to and exhibitions in the Middle Eastern nation.
Hung highlighted the fruitful co-operation between the two countries in recent times, saying two-way trade has witnessed impressive growth, hitting US$120 million in 2017, an increase of 122 per cent year-on-year.
Viet Nam’s exports to Oman include mobile phones, spare parts, automobile spare parts, coffee, seafood and pepper while the country imports metal, ore, minerals and cattle food from Oman.
Oman has five investment projects in Viet Nam with total registered capital of $340 million so far.
At the event, Omani side said the country was considering importing food from Viet Nam, expressing hope that the Vietnamese side would open bonded warehouses in Oman, thus facilitating the distribution of Vietnamese goods in Oman and exports to adjacent markets.
Le Thai Hoa, deputy head of the Asia-Africa Market Department under the MoIT, said the ministry was creating favourable conditions for the two sides’ enterprises to learn about each other’s markets. The ministry was working with ministries and sectors on a plan to open a direct flight between the two nations, towards promoting economic and culture exchange, he noted.
The VOI is considered an outstanding model for economic co-operation between Viet Nam and Oman. Established by the Oman State General Reserve Fund and Viet Nam’s State Capital Investment Corporation, the Vietnam-Oman Investment (VOI) joint venture operates with strong support from both sides.
Since its initial commitment of $100 million in 2009, VOI doubled its capital by 2014.
Abdullah Al Harthy, chairman of the board of directors of VOI and a member of the Oman-Viet Nam Joint Committee, said that his country thought globally on economic co-operation, even though it was only a small country in the Middle East. Oman saw long-term prospects for economic co-operation in Viet Nam, he said.
VOI has focused on Viet Nam’s competitive sectors and those with contributions to long-term sustainable development, such as electricity and logistics, he added.
The VCCI and its Oman counterpart, the OCCI, signed a memorandum of understanding on co-operation to make it easier for the two sides’ enterprises to connect in the future.
Soc Trang prepares for investment promotion conference in April
The southern province of Soc Trang on March 22 held a press conference to promote the municipal investment promotion conference to be held in late April.
About 500 delegates, including 300 investors, are expected to take part in the upcoming conference, while a Start-Up Week will also be organised around that time.
Soc Trang Province has called for investment in 88 projects. At least 47 of them, focusing on renewable energy, wind power, solar power and tourism, have already received investment, but at the conference will receive official project documents.
Activities encouraging information exchange between experts will be held one day prior to the event, Sals said.
He added that the province has advantages, including a favourable location and orderly traffic system, as well as a large amount of land used to build industrial sites and develop wind and solar power projects.
The province also has potential to promote ecotourism.
SBV, South Korea’s FSC tighten their co-operation
State Bank of Viet Nam (SBV) and South Korea’s Financial Services Commission (FSC) signed a memorandum of understanding on cooperation in the field of financial innovation in Ha Noi on Thursday.
The signing is part of the Viet Nam-Korea Financial Cooperation Forum, which was jointly organised by the Vietnam Banks’ Association and Korea Federation of Banks.
This is the first agreement in this area that SBV has signed with a foreign partner, marking an important milestone to perfect the legal framework for comprehensive co-operation between the central bank and FSC.
The agreement is seen as a legal basis for the two sides to enhance exchange, share information and conduct co-operations contents related to the modernisation of the banking and financial system as well as application of modern financial technology in the operation of banking system and services.
Speaking at the forum, SBV Governor Le Minh Hung said the forum was very meaningful in the context of the strategic partnership between Viet Nam and South Korea, which had been continuously developing in the past few years.
The forum is an opportunity for the two sides to further understand the needs and potential in financial and banking co-operation in the coming time, especially in the time of the 4.0 industrial revolution that is opening up new development possibilities for the world in general and the banking sector in particular.
“Since the establishment of diplomatic relations more than 25 years ago, Viet Nam and South Korea has made remarkable progress in all fields, including politics, economics, trade, investment, culture and tourism,” said Hung.
In the banking sector, South Korea is among the top 10 countries and territories in Viet Nam with the highest number of credit institutions, including two banks, seven banking branches, six representative offices and two finance leasing companies.
Hung said South Korean credit institutions had always been active, dynamic, efficient and law-abiding investors in Viet Nam and that they had made remarkable contributions to the development of economy, banking and finance in the country as well as in the co-operation between the two countries.
“The 4.0 technology revolution brings a lot of opportunities, creating added value and driving force for economic development. The banking and finance sector is the pioneer in adopting and applying the technology solutions to innovate and improve products and services, helping cut costs and bringing many benefits to customers,” Hung said.
He, however, pointed out that the financial and banking system would face many challenges due to the replacement of machines and automation solutions, increase in competition from Fintech companies as well as new risks from the technological environment.
South Korea is a country performing well in science, technology and start-up innovation, being the cradle of Fintech development in Asia. As a management body in the Fintech sector, FSC has developed a number of policies to support the development of the sector.
Hung emphasised that the co-operation was an inevitable trend to bring benefits to businesspeople, investors and citizens of the two countries. He hoped the relationship between Viet Nam and South Korea in general and in the banking and finance sector in particular would develop greatly in the coming time, especially in the field of innovation.
Flamingo, VietinBank ink investment agreement
Flamingo Group and Viet Nam Bank for Industry and Trade (VietinBank)’s Phuc Yen branch has signed an investment contract for Flamingo Cat Ba Beach Resort project.
Under the agreement, VietinBank is the only official investor to provide capital and financial products for Flamingo Cat Ba Beach Resort, with a total credit of VND1.5 trillion (US$66 million).
Le Thi Van Anh, vice director of Flamingo Group, said the combination of experience and capacity of the Flamingo Group and financial strength of VietinBank promised to bring success for the Flamingo Cat Ba Beach Resort complex in future. She said the agreement was a premise to build and develop many works with international standards.
Nguyen Van Truong, director of Vietinbank Phuc Yen, emphasised that the signing between the bank and the Flamingo Group show their desire to further develop the relationship between the two sides, which is evidenced by formal co-operation agreements to implement projects in future.
Located on a 7.8ha area, Flamingo Cat Ba Beach Resort owns 756 villas and has a total investment of VND3 trillion.
The project is scheduled to be completed by the end of 2019.
Steelmaker Hoa Phat Group targets $2.4b in revenue in 2018
Steelmaker Hoa Phat Group targets revenue of VND55 trillion (US$2.4 billion) and after-tax profit of VND8 trillion in 2018.
The information was released at the group’s annual shareholder meeting held in Ha Noi on Thursday with the participation of 368 shareholders, who together hold 77 per cent of ordinary shares.
Hoa Phat’s management board chairman Tran Dinh Long said the group sees 2018 as a crucial year.
The firm would take drastic measures to ensure the progress of the Hoa Phat Dung Quat steel and iron production complex and make it the priority target for this year, Long said.
He added that the management board had carefully considered the targets before submitting them to the meeting.
“In the first quarter of this year, Hoa Phat’s revenue was estimated to reach VND12 trillion and profit of VND2 trillion,” he said.
The group would implement many big projects this year in their main steel business. In addition, it would be alert for changes in the material market.
In other sectors such as agriculture, construction equipment and interiors, Hoa Phat would continue to maintain its market share.
Tran Tuan Duong, Hoa Phat’s general director, said there was no steel firm in Viet Nam as competitive as Hoa Phat.
“With a low rate of investment and a competitive price, we can directly compete with big firms around the world,” Duong said.
Speaking on the progress of the Hoa Phat Dung Quat steel and iron production complex, Duong said the group had begun installing the first long steel rolling equipment, building a deep water port and undertaking other constructions.
Hoa Phat employed around 3,000 workers for the project, providing training at its complex in the northern province of Hai Duong.
At the meeting, the shareholders approved dividends of 40 per cent by share for 2017.
Last year, Hoa Phat Group notched a record high business result in its 25 years of operation despite instability in the global and national economies.
Its accumulated revenue in 2017 reached VND46.8 trillion, posting an increase of 38 per cent year-on-year. After-tax profit also hit a record high to reach VND8 trillion, surpassing the set target by 33 per cent and increasing 21 per cent over the previous year.
The group’s steel business played the key role, contributing some 90 per cent of its total revenue and after-tax profit.
Hoa Phat last year exported some 200,000 tonnes of steel products. They included 161,000 tonnes of steel bars and rolled steel to the US, Canada, Australia, Malaysia and Cambodia.
In terms of real estate, Hoa Phat Group handed over its Mandarin Garden 2 housing project in Ha Noi to homebuyers, while expanding industrial zones in the northern province of Hung Yen. It has started construction on Bac Pho Noi Urban Area and the 70 Nguyen Duc Canh apartment building.
With its positive business results, the group contributed VND5 trillion ($220 million) to the State budget in 2017, an increase of 40 per cent from 2016.
In November, Hoa Phat officially introduced its new brand name recognition project to improve its image, prestige and scale.
SMC to pay 40% dividend
SMC Trading Investment JSC has announced it will pay 40 per cent of dividends for 2017’s business performance, with 10 per cent in cash and 30 per cent in shares.
The information was revealed in the company’s 2017 annual report.
SMC advanced 5 per cent cash dividends in August last year. The remaining 5 per cent cash dividend and 30 per cent share dividend are expected to be paid in May 2018 as soon as the shareholder’s meeting approves the plan.
According to the report, 2017 was considered a successful year for the steel industry as steel products’ prices rose throughout the year and consumption demand remained positive.
SMC reached total steel output of nearly 1.06 million tonnes, fulfilling its plan for the year. Its total net revenue was more than VND12.65 trillion (US$555 million), a year-on-year increase of 34 per cent.
The company’s after-tax profit reached over VND270 billion, down 25 per cent compared to 2016, but also exceeded the year’s target by 80 per cent for profits nearly double than expected.
This year, SMC aims to consume 1.1 million tonnes of steel, including about 550 thousand tonnes of construction steel and 550 thousand tonnes of galvanised steel.
Total sales are estimated to hit VND12 trillion, down 5 per cent compared to sales in 2017. After-tax profit was estimated at VND250 billion, a year-on-year decrease of 7.5 per cent.
Golden chance for Can Tho to boost investment ties with Japan
A conference entitled “Meet Japan – Mekong Delta region” will take place in Can Tho city on April 18 and 19, expected to provide the city a golden opportunity to promote trade and investment ties with Japanese firms.
The conference will be held by the Ministry of Foreign Affairs in conjunction with the municipal People’s Committee, as heard at a meeting of local authorities on the event’s preparatory work on March 23.
It will include three sessions, engaging in discussions on development cooperation between Japan and the Mekong Delta in the fields of healthcare, culture-tourism, education-training, human resource development and hi-tech agriculture.
Can Tho seeks to attract more Japanese investments and support in healthcare projects, for example, providing equipment for a local cardiovascular hospital, providing training for healthcare workers and sending guest workers to Japan.
The city also plans to design exclusive tours for Japanese visitors, develop the Vietnam-Japan Industrial Park, which will start construction in April, and other industrial parks in Co Do, Thot Not and O Mon.
Notably, a meeting will be held between former Vietnamese President Truong Tan Sang and the Japanese Ambassador within the conference’s framework during which the two sides are expected to discuss the future cooperation between Japan and Can Tho. A focus of the meeting will be the construction of Xom Chai Bridge, worth about 400 billion VND (17.6 million USD).
Last week, the Government of Japan agreed to provide over 403,600 USD in non-refundable aid for five projects in health care and education in Vietnam. Part of the fund will be used to purchase medical equipment of health centres in the Mekong Delta provinces of Ben Tre and Long An.
Japan is Vietnam’s biggest ODA provider and second largest FDI investor. Last year, Japanese investment into Vietnam hit a record high of 9.11 billion USD, a 4-fold increase from 2016.
Mekong Delta province to have 14 industrial hubs
The Mekong Delta province of Vinh Long plans to develop nine industrial clusters with a total area of 492.5 ha from now to 2020, and another five industrial clusters with a combined area of 165.49 ha during the 2020-2030.
The information was released at a seminar held in the province late last week to announce the province’s zoning planning for industrial cluster development until 2020 with a vision to 2030.
Approved industrial clusters will serve projects in the fields of farm produce, aquatic products and food processing; energy; repairing and assembling of agricultural machines and transportation means; wood processing; garment and textiles, and footwear.
Vu Ngoc Tu, Deputy Director of the provincial Department of Industry and Trade, said that through the zoning plan, the province aims to form a system of industrial parks and clusters to ensure its sustainable economic development, as well as contribute to promoting its economic restructuring and boosting its industrial growth.
In addition, the development of industrial clusters following the zoning plan would create industrial infrastructure facilities with long-term value, contribute to the modernisation of infrastructure system, create jobs, raise incomes and form an industrial working style for workers, and meet land sites and infrastructure demand for industrial production in the province, he said.
To accomplish the targets, the province will focus on implementing many measures, including enhancing trade promotion and administrative reform, improving infrastructure, creating a favourable investment environment, paying special attachment on human resource development and training, and attracting enterprises and credit sources to invest in infrastructure of industrial clusters.
On the other hand, the province also closely combined the overall and detailed planning of industrial clusters to ensure the harmonious integration between industrial cluster development and industrial and socio-economic development in each locality in the province.
At the same time, the province will accelerate the decentralisation of the management of industrial clusters to local governments where the industrial clusters are located to ensure simple and effective management.
In addition to applying the appropriate policies and mechanisms of the central Government, the province will also implement its own incentive policy for investors, such as helping investors choose the optimal locations in line with the province’s socio-economic and industrial development plan.
Particularly, the province will create favourable conditions for enterprises to enable them to borrow preferential credit or loans with subsidised interest rates to build infrastructure, and offer them with tax reductions and exemptions.
Through preferential policies, the province aims to create an attractive investment environment and support investors with part of the costs.
The province currently has two industrial parks and one industrial route, with a total area of 416ha.
In addition to developing 14 new industrial clusters by 2030, the province has also set a target to build another three new industrial parks with a combined area of 950ha.
Nearly 500 enterprises to attend Vietbuild 2018
More than 1,700 pavilions from nearly 500 enterprises will be showcased at the 2018 Vietbuild international exhibition in Hanoi from March 28-April 1, announced a press brief on March 23.
Head of the Vietbuild organising board and Chairman of the Vietnam National Real Estate Association, Nguyen Tran Nam, said that the exhibition will see the presence of 252 domestic enterprises, 99 joint venture enterprises and 145 foreign enterprises from 18 countries and territories across the world, including France, the US, Russia, Turkey, the UK, Australia, China, and others.
The participating enterprises will introduce diverse products in the areas of construction, building materials, real estate and interior and exterior decoration.
In particular, most of the products on display were researched and produced in late 2017 and early 2018 and boast improved quality, designs and features that meet the increasingly demanding requirements for construction and decoration.
Within the framework of the exhibition, the organising board will also hold seminars to encourage enterprises to carry out research and produce new and hi-tech products towards green and sustainable development.
In addition, exchange programmes will be organised for enterprises to share experience and seek partners, as well as learning about the needs and tastes of consumers.
The second exhibition of this kind in 2018 is scheduled to take place from September 6 – 10, showcasing 1,500 pavilions and the third exhibition is slated for November 23-27 with a scale of 1,700 pavilions.
Prices of cars still remains high because of reduction of import
The Ministry of Industry and Trade said in first two months of the year, the country imported 562 cards worth $35.31 million, deep drop of 96.3 percent on volume and 88. 6 percent on value compared to last year.
Russian-made cars lead the imported vehicles in Vietnam; next by China and the US. The drastic drop of imported cars this time resulted from regulations to tighten the condition of imported vehicles lately.
However, price of imported cars in the Southeast Asian country escalated compared same period last year. French cars is the most expensive, a year-on-year rise of 96 percent while Japanese-made car also rose by 270 percent.
The cheapest imported cars including those from South Korea also saw an increase of 63 percent and Thailand with 73.6 percent, except Chinese which has a fall of 31.8 percent.
Lately, there has been no sign that price will fall plus shortage of favorite kinds. However, there isn’t wait-to-see attitude amongst clients any longer; instead, people choose ones at suitable price to meet their demand of traveling.
The Ministry said generally, in first two months of 2018, exports to China climbed by 50.6 percent compared to same period last year earning $5.67 billion accounting for 16.4 percent in the country’s total revenue of commodity export. Exports of telephone and computers, electronic products and accessories reached over billions of US dollar.
Noticeably, the telephone and accessory group has seen the increase of 13 times compared to same period last year with turnover of $1.22 billion accounting for 16.4 percent in total exports to the market.
The computer and electronic product and accessories group also ranks the second on turnover of $1.14 billion, a year-on-year rise of 37.7 percent.
Panasonic Vietnam introduces total solutions for energy efficiency
Panasonic Vietnam cooperated with the Department of Science, Technology and Environment under the Ministry of Construction on March 23 to organize the “Energy-Saving Solutions to Improve Building Air Quality” workshop in Hanoi. The workshop targeted introducing and discussing solutions to save energy and improve air quality in a way that is energy efficient without compromising microclimate comforts within buildings.
“We look forward to strengthening our long-term cooperation with business partners through providing synchronous technology and technical solutions, improving building quality, and optimizing investment efficiency, while meeting customers’ increasing demands for a better life, health, security and environmental-friendliness,” said Mr. Kazuhiro Matsushita, General Director of Panasonic Vietnam. “In close cooperation with the Ministry of Construction, we are proud to be the pioneer in providing total solutions for green and smart projects in Vietnam.”
Under the impact of climate change, large cities in Vietnam are now facing increasingly serious air pollution from traffic, construction and daily human activities. Indoor air quality (IAQ) comes as major concern to homeowners, experts, investors, constructors and consultants. Panasonic’s total solutions not only helps “green” and “smart” buildings achieve outstanding energy-saving performance but also ensures a comfortable, safe and healthy living environment.
Panasonic has introduced total solutions consisting of IAQ systems and air conditioning systems. The IAQ systems completely resolve the issue of air quality in residential constructions, ensuring a harmonious living space, and compose of four basic elements: temperature – airflow – humidity – purification, delivered by a wide variety of product lines ranging from air conditioners and ventilation systems to fans and air purifiers.
It also delivers the VRF air conditioning system, with outstanding energy efficiency proven by an energy efficiency index (EER) of 5.3. Panasonic provides HIT solar panels with silicon heterojunction technology and a pyramid structure to optimize energy absorption and generation.
Celebrating a century of developing and building a brand of reliability, Panasonic now enjoys a position as a leading Japanese manufacturer of consumer electronics and a pioneer in providing B2B solutions across the world. In Vietnam, it is the first company to introduce total solutions for buildings that integrate advanced construction methods and a consistent system of technology solutions and techniques.
Under the founder’s strong business philosophy over the past 100 years, Panasonic continues researching and developing technologies, pioneering the provision of total B2B solutions such as security systems, commercial air conditioners, cold chains, residential and urban development solutions, lights and switches, etc., to serve local residents, urban areas, commercial complexes and community projects. Its strives to bring a modern, safe and comfortable life to people in order to create a better world.
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