New four-star hotel goes up in Hoi An. The company plans to develop this hotel brand in major cities such as Hanoi and HCMC, as well as major travel destinations of Vietnam. By end, the brand is expected to be present in Hue, Mai Chau and Hanoi. HCM City crack down on smuggling.
HCM City plans to step up enforcement against smuggling, trade fraud and counterfeit goods to better cope with the rising number of violations that have been occurring this year. Policies and regulations will be established to closely supervise imports for re-export, as well as business activities related to food safety.
Violations mainly occurred in border areas and via air and sea routes. The main smuggled goods were drugs, firecrackers, explosives, oil and gas, wild animals and their products, wine, tobacco, food, pharmaceutical products, cosmetics and electronics. Organisations and individuals have also been found illegally using chemicals and additives in production, cultivation and animal husbandry, sparking public health concerns. One of the most noteworthy cases was the seizure of 1. All three patients died after being hospitalised for several days, causing great concern among local residents. To prevent the disease from spreading to other areas, the General Department of Preventive Medicine has suggested the provincial Health Department should closely monitor the situation and take sample tests from those exposed to the disease and from high-risk groups to detect new cases of infection.
At the same time, the Health Department was asked to take steps to promptly manage the outbreak, ensuring that people contracting the disease were isolated and receiving treatment in order to minimise the number of infections. The department was also ordered to investigate all cases of infection in the community and at the treatment facility, submitting daily reports on each case and the results of preventive measures. This is necessary to ensure that all children are inoculated against the disease, especially those living in mountainous and remote areas.
The province has also been urged to strengthen advocacy activities focused on risk and prevention to ensure people become more proactive in preventing the disease. According to the General Department of Preventive Medicine, diphtheria is an infection caused by the bacterium Corynebacterium diphtheria. It affects the mucous membranes of the throat and nose. The disease is common in children but can occur in adults with impaired immunity. Although the disease is easily transmitted from one person to another, diphtheria can be prevented through vaccination.
Previously, the disease was quite common in most provinces across the country. However, since the inclusion of the diphtheria vaccine in expanded immunisation programmes, the disease has been under control, and only a few cases have been recorded among those who were not vaccinated against the disease, usually because they lived in remote areas where immunisation rates are low. Vietnam, RoK cooperate in labour sanitation. Speaking at the signing ceremony, Deputy Minister of Health Nguyen Thanh Long said the MoU is the first step in opening up cooperation opportunities in labour sanitation and occupational disease prevention.
The law took effect on July 1. Forum highlights new social insurance policies. New regulations of the revised Law on Social Insurance and international experiences in reforming social issuance policy were the focus of a dialogue forum in Hanoi on July Accordingly, part-time staff in communes, wards and townships, and citizens that work abroad under contract will have to participate in compulsory social insurance from January 1, From January 1, , persons working under labour contracts with a term of between 1 month and 3 months; and employees who are foreigners working in Vietnam will also be required to join compulsory social insurance.
Other regulations on increasing the premium of social insurance and criminalisation of violations concerning social insurance regulations were also highlighted at the event. She proposed several measures to create balance between the adequacy and sustainability of the pension system. Participants shared that the changed calculation of social insurance premiums will cause difficulties for many businesses. According to MoLISA Deputy Minister Pham Minh Huan, the ministry has directed relevant agencies to examine regulations on labour in the Criminal Code , aiming to avoid criminalising enterprises who dodge social insurance participation.
Action Aid Vietnam funds sustainable livelihoods in Soc Trang. Action Aid International Vietnam has provided Long Phu district, in the southern province of Soc Trang with 18 billion VND in funding over the past decade under a development support programme. Under the programme, as many as 23, people have been trained in cultivation and breeding techniques, agriculture and livelihood models. They were also educated about issues regarding poverty and the right to have access to land and natural resources, contributing to reducing the rate of poor households.
Additionally, 11, people and communal officials have been given insight into the State law, grassroots democracy regulations and joined dialogues on public services and accountability to promote local socio-economic development. Ca Mau keen on forest development. The southernmost province of Ca Mau is taking active efforts to plant mangrove forests on targeted land to adapt to climate change.
The locality plans to plant between 10, — 15, hectares of forests by , costing an estimated 20 billion VND , USD. The figure includes 5, hectares of coastal preventive mangrove forests and some 9, — 10, hectares of commercial forests. In alone, 1, hectares of new preventive forests will be developed. To that end, communication work has been promoted to raise the awareness of the significance of afforestation among the community. Ca Mau has the 67,hectare U Minh Ha cajuput forest and 35, hectares of preventive forests stretching along its km coastline.
However, the province loses around hectares of coastal forest each year due to erosion. The loss of forest also leads to further erosion of land. In addition, the forest coverage in Ca Mau has also decreased considerably since the s as local people cut down coastal mangroves for shrimp farming. Over 1, of them are in unsafe conditions, especially during the rainy and stormy season.
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Vietnam is one of the five countries in the world most vulnerable to climate change and its rice granary, the Mekong Delta, is among the three hardest hit deltas on the globe. Young Vietnamese show leadership potential. Survey results were based on 5, young Vietnamese aged , who completed an online assessment which provided a score for each of four capabilities: leader, manager, professional and doer. However, only 14 per cent of the surveyed youth showed future potential to be managers. The assessments were based on personal motivation, interests and behaviour.
Exhibition of artworks honours miners. Different materials such as pastel, oil on canvas, acrylic and coal have been used to create the artworks. Paintings by veteran artists are also a highlight of the exhibition. He has also painted beautiful landscapes portraying the mining areas during his career. Symposium highlights importance of diet to diabetics.
Improper nutrition causes a lowering of blood sugar level, he said. Dr Osama Hamdy, a diabetician from the US, said it is crucial for people with diabetes to have a plan that includes a balanced diet, medical treatment and regular exercise. The American Diabetes Association recommends that all people living with diabetes should make nutrition therapy a part of their treatment plan. Bangkok underground party comes to HCM City. The music night will feature DJ mAsa niwayama, co-founder of Giant Swing, who has played music at some of the most popular underground clubs in Japan.
Concert highlights dancehall music. A Dancehall Explosion concert featuring dancehall music, a genre of Jamaican popular music that originated in the late s, will be held at The Cube Bar Saigon on July Plan International supports children in Quang Tri. Plan International on July 12 signed an agreement with the provincial government of Quang Tri that allows the global organization to run new programs in the province to improve the lives of needy children. The organization will also be looking at starting a water, sanitation and hygiene program in the dry zones of the province.
Ho Chi Minh City customs in June seized nearly 1. Two delivery companies and more than 10 individuals are now suspected of deliberately smuggling the stimulant leaves. The leaves were found in packages from Kenya and Ethiopia either handled by the companies or with the individuals named as the recipients. Khat is a shrub grown in East Africa and the Arabian Peninsula and its leaves are chewed for their stimulant effects, thanks to cathinone and cathine among the ingredients. Another ton of the leaves were seized at Tan Son Nhat International Airport in the city earlier this year.
Da Nang seeks investment from Singapore. Ship-building industry is a high-tech investment field that call for investment from foreign investors. The central city promises to create smooth conditions and top priorities for Singapore's investors in the fields of high-tech, information technology, renewable energy and high quality education.
Minh said the city will make a strong commitment in building available infrastructure, administrative reforms, preferential treatment and skilled labour, for wooing investors from Singapore. He said the city will boost transparency and publicity in offering preferential favours, labour cost and investment fee for investors. The head of the representative office of Foreign Trade Bank of Viet Nam, Vietcombank, Vu Thi Bich Thu confirmed that the bank in co-operation with Da Nang city is looking to create favourable financial support for Singaporean investors launching investment projects in Da Nang.
Last year, the city also organised investment promotion events in Japan and Germany. Vietnam-Mongolia trade links to be facilitated: PM. Addressing the Vietnam-Mongolia Business Forum on July 14 during his ongoing official visit to Mongolia, the Vietnamese leader stressed that the bilateral political ties have fruitfully developed in recent times but their trade bonds do not match with the existing potential.
He briefed Mongolian investors and businesses on the huge potential of the Vietnamese market, saying that Vietnam wishes to invest in mining, technology, tourism, infrastructure development and some other fields in Mongolia. They revealed that the Vietnam-Mongolia Joint Business Council was set up to push trade and investment links, especially in hi-tech agriculture and farm products. They suggested the two Governments consider opening a direct air route between the two nations to facilitate import-export activities and multi-faceted cooperation among their firms.
Vietnam hopes to export farm produce, food, aquatic products, fruit and vegetables and electronics, the PM Phuc noted. Meanwhile, Mongolian investors said they are willing to cooperate with Vietnamese counterparts to ship meat to Vietnam. Vietnam is home to 21, foreign investors from over countries and territories, with a total investment of billion USD. Mongolia has been accelerating restructuring its business system.
Mongolian companies are also active in seeking to boost economic and trade links with nations worldwide, including Vietnam — a potential market in many fields. At present, two-way bilateral trade between the two nations hits about million USD. Vietnam mainly exports phones, fruit and vegetables and consumer products to Mongolia, while importing metals and materials for the garment and footwear sectors from the East Asian nation. During the meeting in San Francisco on July 13, the two sides agreed to together boost their bilateral relations, contributing to further developing the strategic partnership between Vietnam and the US, the Sai Gon Giai Phong Liberated Saigon newspaper reported.
Tuyen, accompanied by a delegation of the committee and businesses from Ho Chi Minh City, joined a number of trade and investment promotion events, met with overseas Vietnamese enterprises and called for more foreign investments into Ho Chi Minh City. The vice chairman also attended the opening ceremony of Semicon West , an annual event for global microelectronics industry in San Francisco on the same day. The trade show, which takes place from July local time , features more than leading firms from the US, Canada, Australia, Japan, Germany, Singapore and so on with new products for microelectronics design and manufacturing on display.
The show expects to welcome about 18, visitors this year. More stocks join Club More stocks with outstanding growth rates joined 'Club ' stock valued from VND, each on the bourses , along with the gain of the local market. As of July 13, the VN-Index reached its nine-year high of This year, the club has seen more new members. Son La Sugar JSC, made the most impressive growth with a per cent rise from VND49, to VND,, along with the growth of sugar stocks in the first half, thanks to the thriving business that benefited from the El Nino phenomenon and recovering sugar prices.
The National Seed Joint Stock Company, which is involved in the agricultural sector, has been one of the few listed companies posting stable growth for many years. Even though the national agricultural sector faced difficulties last year, NSC kept growing, while multinational corporations in the industry were affected.
Based in Ha Noi, NSC is now expanding into the Mekong Delta market with the new rice seeds that promise high productivity and better export performance. Vietcombank Securities Company experts said with such well-planned development, NSC would easily achieve its profit and revenue targets this year. The firm, involved in stone extraction and wood products, is one of the listed timber enterprises with the highest revenue growth and profit margins in CAV has paid at least 30 per cent dividend in cash to shareholders, corresponding to a dividend yield of 5.
Its growth so far has been of per cent higher than This year, total exhibition space has been expanded to 12, square meters to host pavilions from various countries, including Argentina, Brazil, China, Colombia, France, Italia, the Republic of Korea and the US. Major products displayed at the two-day event include machines to produce shoes and tan leather, shoes and shoe accessories, fashionable and interior leather, materials, and leather products. The premier and most influential annual event of its kind in Vietnam, which expects 10, visitors, is a chance for businesses to access the most updated technologies and material supply sources, promote their products and seek partners.
Headquartered in Hong Kong, FWD is the insurance business arm of investment group Pacific Century Group, offering life and medical insurance, employee benefits and general insurance.
ABBANK has transaction sites in 29 provinces and cities, and over , individual customers and 20, corporate customers. Treasury offloads VND5. After the auction, they bought all the 5-year bonds with a coupon rate of 6. The Treasury later sold another VND billion in five-year bonds in an extra session, with the same coupon rate. Similarly, during the auction, the Treasury sold all the year bonds, worth a total of VND1 trillion, offered at a coupon rate of 7. Then, it sold another VND billion to meet the increasing demand, with the same coupon rate. Since the beginning of , the Treasury has successfully sold VND trillion in government bonds through HNX auctions, the bourse said.
Kia has become the second best-selling brand in the Vietnamese market, after selling 14, cars in the first half of , a 56 per cent growth over last year. The national sales figure made a modest contribution to the overall figure of 1. In June alone, 2, Kia cars were sold in Viet Nam, marking the ninth month in a row when the sales volume exceeded 2, vehicles. Kia Motors has introduced a new luxury model, Kia Quoris, in the Vietnamese market, marking its ninth model in Viet Nam. According to Kia Motors, Viet Nam has always been its primary market in the Southeast Asian region and Asia in general, and the company would continue to introduce its latest car models under its global brand development strategy, featuring luxury designs, high-tech equipment and safety and protection protocols.
Quang Nam develops border trade with Lao province. Quang Nam has invested in building the Nam Giang border economic zone and improving the transport system and monitoring stations at the Vietnam-Laos shared borderline. It also built specific programmes to attract investment from businesses into the border areas, facilitate goods exchange and encourage trade activities. Apart from supporting enterprises to increase trade promotion and direct exports with Laos , Quang Nam also works to preserve the special cooperative ties with Sekong to jointly deal with any issues affecting their economic and trade development.
The province also stepped up inspection of goods quality and food safety and called on businesses to invest in trade projects, technical economic infrastructure, and markets in border communes and districts. Local authorities proposed the Government increase the annual investment capital to 50 billion VND 2. Director of the provincial Department of Industry and Trade Nguyen Quang Thu said authorities have suggested Lao partners pay more attention to developing the transport system at Tay Giang border gate to pave the way for the bilateral goods exchanges.
In the first six months of , the import-export turnover via Nam Giang border gate reached nearly 6. Quang Nam mainly exported machinery, equipment and construction material, while importing timber and electricity. There were 17, unsecured bonds sold directly to seven institutional investors while 2, were sold to 27 individual investors. No foreign investors participated. With the additional VND1. Its liquidity risk will also be minimized, according to its statement. According to its prospectus issued on June 2, ACB will use the capital gained for mid and long-term lending. There will be three disbursement periods June, September and November with a total of 22 enterprises receiving loans.
The bank expects pre-tax profit of VND1. Nguyen Mien Tien. His brother, Mr. TAC is the second largest cooking oil company of Vietnam, with a 22 per cent market share. It reported total revenue of VND3. Savills Vietnam opens full service office in Danang. Savills Vietnam opens its first full office in Danang, marking a milestone for the company as it continues to provide quality real estate services. The new office will offer the full platform of real estate services already provided in Hanoi and Ho Chi Minh City, including research, evaluation, and development advisory, commercial and residential property management, office and retail agency services, tenant representation, investment advisory and brokerage, as well as residential project marketing and general leasing.
The sizeable existing project marketing team already present in Danang will be complemented by a professional management team and office premises. Being one of the most exciting and progressive cities in Vietnam, we are very pleased to open our first regional office, outside of Hanoi and Ho Chi Minh City. Minh Nguyen teams up with Japanese firm to supply Samsung. Accordingly, Yamazaki Mazak will be the strategic supplier of high-tech machinery centres for the first phase of Phuoc Thanh research, manufacturing and application complex developed by Minh Nguyen at SHTP.
Yamazaki Mazak will also support and advise Minh Nguyen in terms of investment strategy, as well as the operation and renovation of high-tech machinery centres for their future investment projects. With our experience, we can quickly help Minh Nguyen improve their technological capabilities and establish themselves as a market leader in Vietnam.
Yamazaki Mazak is a leading international manufacturer of machinery centres from Japan. Founded in , the corporation currently operates a network of 10 production facilities and over supporting bases around the world. PVN told to grow by restructuring. At the conference held in Hanoi on July 12, the group said it accomplished all targets for the first half this year. Its industrial production value gained a year-on-year growth of 9.
The group reduced production cost of electric, fertiliser, petrol and oil products by 20 percent against its plan. The second half of this year is forecast to still have difficulties in production and business, including the impact from the crude oil price that has not yet seen a strong recovery, Brexit and the difficult conditions for development of domestic and international oil and gas projects.
However, the group still had many problems, including low efficiency in some projects and even suffering losses in some other projects, he said. The group also expanded its investment activities to non-core businesses. The Deputy Prime Minister said its main tasks until year-end would include restructuring the enterprise, products and investment activities of the group and its member companies to increase efficiency in production and business, and competitiveness, as well as ensure the national energy security. The group should review all its projects to improve efficiency of the projects and focus its investment on products and sectors that need priority, he said.
For restructuring the enterprise, the group should focus on equitisation, restructuring of corporate management, and revamping its technology to increase quality and ability of management as well as labour productivity. Dung also said the PVN should anticipate market risks to have reasonable investment and production plans. It would achieve its targets in production and business, it added. Measures discussed to develop enterprises in Mekong Delta. Various solutions to the development of enterprises in the Mekong Delta were discussed at the Mekong Delta Business Forum, which was held in Hau Giang province on July Le Hung Dung, Deputy Head of the Steering Committee for the Southwestern Region, said most enterprises in the region are of small or medium scale with weak competitiveness, so they need support from the central and local governments via administrative reform with a one-stop mechanism.
In the first six months of this year, the region had close to 4, newly-registered enterprises with a combined capital of nearly 40, billion VND 1. Shrimp exports to UK plunge slightly. In the UK market, Vietnam shrimps have to compete fiercely with those from India in terms of prices. Shrimp exports to the UK in June are estimated to dip slightly due to fluctuation in exchange rates.
Thus, shrimp exports began going down in June after enjoying a quite high growth early this year. This is the first time in the last three years that the export revenue of warmwater shrimp is higher than that of coldwater shrimp. Danang kicks off Israel-backed startup course for local entrepreneurs. A course has been launched in the central Vietnamese city of Danang to provide local entrepreneurs a better understanding on incubator and startup. According to Lee Singer, deputy Israeli Ambassador to Vietnam, this is the first-ever course on startup organized by Israeli experts in the Southeast Asian country.
The course is expected to be held in other major cities, with the aim of helping young entrepreneurs to have a better understanding on startup and human resources development, she said. Nikken, Thien Tan groups develop Ly Son island infrastructure. A Nikken representative pledged to closely coordinate with Thien Tan Group to build Ly Son infrastructure with modern utilities. Chad Ovel, Partner of Mekong Capital.
The Fund particularly focuses on companies that are committed to building up strong management teams. These are the key factors that make a company grow sustainably in a changing and fiercely competitive market and in expanding our chain internationally. The company also plans to launch a new concept restaurant chain in to address a different segment of the market in Vietnam. Vietnam's economy to face more challenges. HSBC's outlook for Vietnam in third quarter shows that the country has recovered from slower growth but still has to overcome many challenges.
In the third-quarter outlook, HSBC stated that agriculture and aquaculture still face difficulties caused by the El Nino extreme weather phenomenon. Even the main sectors only saw slight increases but this shows the country has escaped the most difficult period. Services and manufacturing industries both have positive growth. Export companies will continue to face challenges as world demand is likely to decrease, however, domestic demand may strongly increase in late Controlled growth will help improve the trade balance after the Ministry of Industry and Trade reported last year that Vietnam's total trade deficit stood at USD3.
In the mean time, Vietnam has continued to receive strong foreign direct investment which will bolster foreign exchange reserves. In the first six months, USD7. The country's inflation rate is still under control, ranging from 1. In order to counter this, the State Bank of Vietnam may increase interest rates to 5. Decreasing fuel prices mean state budget deficit will not recover anytime soon and may account for 6. HSBC suggested that government should increase revenues and restrain spending. Slow but sustainable economic growth is recommended.
HSBC maintains its Vietnam's growth prediction of 6. Promoting national brands through local products gets discussed. A forum on the promotion of national brands via local products was held in Hanoi on July 13 with the goal of encouraging businesses to participate in the national brand programme. Do Kim Lang, Deputy Head of the Trade Promotion Agency, said the forum provided a chance for localities to share their experience in building regional brands, while managerial agencies, experts and businesses could discuss issues related to building brands for businesses, products and regions.
At the forum, experts said in order to have agriproduct brands able to compete domestically and globally, it is necessary to synchronously implement many solutions, including perfecting mechanisms, policies and the legal system to build and protect brands. They also stressed the need for a strategy for developing sustainable agriproducts based on the relationship between agriproducts and the human and social environment.
Binh Phuoc high-tech farming centre opens. Spanning an area of 50 hectares, the centre was formally a breeding facility for agricultural plants. Approximately billion VND 4. Located 8km from the centre of Dong Xoai town, the establishment enjoys convenient transport to neighboring southern provinces.
The centre is working with experts to develop farming systems for vegetables, beans and fruit that are safe for consumers and have higher productivity. By the end of , it will transfer 10, cashew saplings to Bu Gia Map district. Cashew is a prioritised plant in Binh Phuoc.
The province has , hectares of cashew which produce , tonnes of nuts annually, with an average productivity of 1. Businesses urged to register trademarks. Registration is imperative if businesses want to protect their trademarks, delegates told a seminar in HCM City on Wednesday.
They also help build trust in companies and their reputation, and play an important role in marketing and advertising, she said, adding that because a registered trademark is a form of intellectual property, businesses can license or assign it to others or restrict others from using it.
There are two ways for Vietnamese firms to register their trademark abroad - directly in a country or through the Madrid system of the World Intellectual Property Organization. The latter offers people the possibility of having their trademarks protected in several countries by submitting an application directly to their own trademark office, he said.
In the past Vietnamese firms like Trung Nguyen Coffee spent a lot of time and money to protect their trademarks that had been appropriated by local and foreign firms, he said. Therefore, it is vital for businesses, especially producers, to understand the importance of protecting their trademarks, he said. Thanh said: "The protection of a trademark is territorial. This means that the rights of a trademark are enforceable only in the countries where [it] is registered. Therefore, they must register their trademarks in markets they want to penetrate. Once a trademark is registered, the protection will last 10 years, and businesses can renew.
So businesses should research trademarks before filing to avoid conflicts, she said. Van Tuyen, head of Nutifood's legal department, said registration to protect trademarks abroad is not only complicated but also costly. Businesses often do not know how to register in foreign countries or the duties and responsibilities of trademark owners, meaning they could easily lose their ownership rights, he said. Vietnamese agencies should provide businesses with more information about intellectual property and the trademark application process in other countries, he said.
Nearly six out of every 10 Vietnamese buyers said that they choose the shops because they are located in advantageous positions. Meanwhile, nearly five out of every 10 buyers would go to the shops with good design and displays which allow them to easily select products. Circle K proves to be faster than its rivals in expanding the network.
About shops are opened in every residential quarter and each of them is just meters from each other. The retail chain has changed its shop identity with new signboards similar to that in the US. After the restructure in early , Circle K has been focusing on 4F service fresh, friendly, fast and full. Tri Thuc Tre. He described businesses as the growth engine of Asian and European economies, stressing their role, especially that of small- and medium-sized enterprises SMEs , in job creation.
He asked Asian and European nations to take the lead in sustainable trade and investment co-operation mechanisms within ASEM to cope with such challenges as poverty that is caused by unfair trade, development gaps between countries and climate change, and to ensure the sustainable development of each member country.
VN-Mongolia trade links. They suggested the two Governments consider opening a direct air route between the two countries to facilitate import-export activities and multi-faceted co-operation among their firms. Diplomatic meetings. He suggested both sides strictly follow common perceptions and agreements reached by their senior leaders, including the agreement on basic principles guiding the settlement of sea-related issues. The two countries should step up negotiations on sea-related issues, while controlling disputes at sea, avoiding complicating the situation, implementing the Declaration on the Conduct of Parties in the East Sea DOC comprehensively and effectively, and soon signing a Code of Conduct in the East Sea COC in order to maintain peace and stability in the region, he added.
He proposed the two countries maintain the regular exchange of all-level visits to enhance all-round relations. Hanoi launches programme to become start-up city. The Department of Information and Communications of Hanoi has worked with several agencies to develop an information technology business incubator scheme to promote start-ups.
The Department of Information and Communications of Ha Noi DIC has worked with several agencies to develop an information technology business incubator scheme to promote start-ups. The aim is to develop Ha Noi as a start-up city, Director of the DIC Phan Lan Tu said at a briefing held this week to review the performance of the department in the first six months.
He said the Government had talked a lot about Viet Nam becoming a start-up country and Ha Noi was eager to become a start-up city. In May this year, the Prime Minister approved a draft project called "National Programme to Support Innovative Startup Ecosystem in Viet Nam by the year " to create a favourable environment to promote and support the development of start-ups with high-growth potential. By , the project is expected to have supported 2, start-up projects and start-up enterprises, of which will have raised follow-on investment from private venture investors, or will have undergone mergers and acquisitions worth about VND2 trillion.
State funding will only be provided to support start-ups in their earlier stages. Subsequently, support from private investors and organisations will play a vital role in ensuring the efficiency and sustainability of the start-up ecosystem in Viet Nam.
In the first six months, the department also finished preparing an information technology development programme for the period and a plan to build a software and digital content park. By the end of June this year, the capital city had issued investment licences to 98 foreign direct investment firms in the field of information and communications technology.
EU, VN firms discuss tie-up in water, environmental technologies. A European delegation comprising 30 business executives from environmental and water technologies companies met their Vietnamese counterparts in HCM City on July 14 to network and explore business opportunities. Since European and Vietnamese products and services are more complementary than competitive, the two sides can continue to increase trade, Thanh said. Talking about water and the environment, he said in recent years combating global warming and protecting the environment have been among the most significant concerns the world over, including Viet Nam, he said.
Viet Nam has had to deal with many disasters caused by El Nino and climate change, he said. With its strengths in technology, "The EU is a significant partner for us in this. Tom Corrie, deputy head of the co-operation and development section at the EU Delegation to Viet Nam, said it is now an interesting time to do business in Viet Nam. Its economy is very dynamic, growing at per cent a year, he said, adding that free trade agreements, in particular the European-Viet Nam FTA, which takes effect in , would create opportunities for businesses in the two countries to work together.
The programme will see 20 targeted week-long business missions to Southeast Asia for up to 1, European SMEs in a range of sectors over the next five years, with the inaugural mission focusing on environmental and water technologies visiting Singapore and HCM City. In HCM City, the visitors introduced a broad range of solutions to address the acute problems faced in Asia — the lack of clean water and environmental degradation. Tran Thi Hieu Hanh, deputy director general of the city's Department of External Relations, said HCM City always welcomes and creates favourable conditions for foreign investors to invest and do business in the city.
Taiwan Excellence commences in Ha Noi. The three-day event will see the display of products of 43 brands in different fields such as ICT, home appliances, healthcare and fitness, besides transportation that have won the Taiwan Excellence Award. Representative of the Taipei Economic and Cultural Office in Viet Nam Richard R C Shih said the launch of the seventh Taiwan Excellence event in Viet Nam, in which many Taiwanese brands are participating, was attributable to domestic consumers' support to good-quality Taiwanese products across several years.
In his speech at the press conference on Thursday, Shih said he hoped Taiwanese products showcased at this year's event would be always chosen by Vietnamese customers, contributing to enhanced relations between Viet Nam and Taiwan. Taiwan Excellence is an international campaign organised by the Bureau of Foreign Trade under the Ministry of Economic Affairs, and implemented by the Taiwan External Trade Development Council, with the purpose of introducing and promoting cutting-edge Taiwanese products.
After six successful years, Taiwan Excellence has created a great opportunity for Vietnamese customers to experience top products from outstanding and global Taiwanese brands. Bilateral ties between Viet Nam and Taiwan has developed significantly in the past few years. VN is fourth largest squid exporter to Japan. Viet Nam has become the fourth largest exporter of squid and octopuses to Japan in the first five months of this year. Statistics of the International Trade Centre showed that Japan imported 3, tonnes of squid and octopuses in the period, making Viet Nam the fourth largest exporter of these products to Japan among 23 countries and territories, after China, Morocco and Mauritania.
Japan was the second largest importer of Viet Nam's squid and octopuses, accounting for Central region works to boost industrial development. The funding was channeled into human resources training, technology transfer and development of industrial clusters, among others. Public-run centres for industrial development in these localities reeled in five billion VND , USD from consulting services for projects in and 2.
Speaking at the conference, Ngo Quang Trung, Head of the Agency for Regional Industry Development under the Ministry of Industry and Trade urged the 15 provinces and cities to strengthen their connection for the overall improvement of the two region moving forwards.
Binh Thuan to strictly handle illegal Chinese dragon fruit traders. Standing Deputy Secretary of the Party Committee of the central province of Binh Thuan, Huynh Thanh Canh, has directed local departments and agencies to strictly deal with Chinese fruit traders illegally operating under the cover of Vietnamese businesses in the locality.
The provincial has set up an interdisciplinary inspection group or Group to investigate and deal with Chinese traders who have illegally traded dragon fruit in Binh Thuan since early this year. The province also fined two Chinese citizens 50 million VND 2, USD for illegally doing business in Vietnam, seizing 12 tonnes of packed dragon fruit. Meanwhile, the provincial Migration Management Office shortened the duration of stay in Vietnam for those committing administrative violations for the first time.
Those who repeat the offence will be banned from entering Vietnam for certain duration. Currently, only about percent of the dragon fruit output is sold in the Vietnamese market, while the majority is exported to China via unofficial trade. Chinese firms seek investment in Ha Giang province. He pledged the best possible conditions, including favourable mechanisms and policies, for Yantai businesses to invest in Ha Giang.
Son said he hopes Yantai firms will invest in such projects as cattle farming in Dong Van stone plateau, building a border trade fair centre near Thanh Thuy International Border Gate, and developing eco-tourism in Bac Quang district. He also suggested Chinese companies apply science and technology in farming rare medicinal orchid species in Hoang Su Phi district. Woodchip exports tumble, numerous difficulties remain. Woodchip exports in the first five months of were posted at million USD, compared to million USD during the same period last year, a fall blamed on multiple difficulties.
Meanwhile, Vietnam has levied a tariff rate of 2 percent on woodchip exports to reduce the overseas shipment of this commodity. To Xuan Phuc, a representative of non-profit organisation Forest Trends, said the imposition of this tax rate amid excessive supplies and shrinking demand has added a further complication to the export woodchip processing industry.
The 2 percent tax is equivalent to 2. Though it is good to curb woodchip shipments to ensure material supplies for domestic processing, the effectiveness of the tax solution should be thoroughly assessed, he said. Other experts said difficulties facing this industry include not only supply and demand changes but also the uncontrolled and rapid development of the sector. Nguyen Nhu Xuan, Deputy Director General of the Vietnam — Japan Chip Corporation Ltd Vijachip , suggested authorised agencies delay or lift the export tariff, giving producers enough time to prepare for in-depth processing.
An export tariff on woodchips had been discussed for five years, so the 2 percent rate imposed is not a surprise. The supply and demand relation is the root of the problem. If industry insiders fail to forecast changes, the problem will never be solved, he added. Technology vital for boosting agriculture. Inventing and applying new technologies has become an urgent task for Vietnamese businesses amid the country's international integration, especially in agriculture, a conference heard in the Cuu Long Mekong Delta province of Hau Giang yesterday.
Tran Duy Quy from the department said, "Rice seed selection technology has significantly increased rice capacity from three tonnes per hectare in to 5. Last year rice strains were grown on Viet Nam's 7.
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The annual demand for rice seeds is around 1. Seventeen institutes, universities and enterprises are creating new rice strains. With most rice strains being indigenous, they fetch low prices, he said, pointing out that no Vietnamese seed brands are exported. Vietnamese scientists and researchers need to create rice strains that can resist diseases, drought, flooding and salinity, he said. He suggested instituting a national programme to develop quality rice seeds by In Viet Nam was one of the leading rice exporters in the world with an LAS issues shares, raises capital.
Based in the northern province of Phu Tho since , LAS produces fertiliser and other chemical products to serve the northern market. Currently, the State-run Viet Nam National Chemical Group with nearly 70 per cent of the stake is the firm largest shareholder. Vietnam Railways has offered The stakes or about 1. Investors wishing to participate in the auction have to deposit 30 per cent of the deal or VND8. Eighteen investors, which included nine individuals and nine organisations had qualified to participate the auction, HNX said.
Based in Ha Noi, Virasimex mostly trained and exported the labour force to the regional and international markets. Telecom firms should focus more on quality: minister. Deputy Minister of Information and Communications Pham Hong Hai has said telecom companies should grow substantially, offering better quality and customer care services, instead of just promotions and discount campaigns. Hai was speaking at a meeting on Thursday in Ha Noi, held to review the business performance of Vietnam Mobile Telecom Services Mobifone in the first six months. He said Viet Nam had three large local telecom firms, but promotions and discounts remained a major focus of these companies.
This was unsustainable development. According to the Vietnam Telecommunications Authority, it is currently studying how to manage promotions more effectively by preventing large network providers from running rampant promotional campaigns. Some even offer promotions below their production costs, leading to unfair competition. A policy to manage new promotions stipulates that if a telecom firm offers too many promotions against its revenue ratio, it will lead to problems affecting its business performance. Hai said network providers should maintain their market shares along with giving positive and sustainable competition, such as by offering quality services and customer care.
Too many promotion campaigns resulted in a large volume of new subscribers, while revenues did not rise, Hai said. The information and communications ministry MIC has asked network providers to announce their 3G coverage areas, and has asked Mobifone to invest more in telecom infrastructure, Hai said. The announcement of their 3G coverage areas is aimed at promoting healthy competition, just as other countries have done. Therefore, the ministry would soon consider applying it in Viet Nam, he said. The number of newly built base transceiver station BTS is an important factor in assessing the ability of network providers in the time to come.
Investment in infrastructure development has become more important as the government has agreed to grant 4G licences by the end of the third quarter. Le Nam Tra, CEO of Mobifone, said this was the first year Mobifone, the country's second-largest mobile services operator in terms of subscribers, piloted its 4G and MobiTV services on July 1 by depending on four pillars of cell phone, retail, television and multimedia services. In the first six months, Mobifone earned VND Technological advances in product value chain discussed. A seminar on promoting the application of technological advances in the product value chain took place in the Mekong Delta province of Hau Giang on July 14, which was a major event within the framework of the Mekong Delta — Hau Giang economic cooperation forum Speaking at the event, deputy head of the Steering Committee for the Southwestern Region Tran Minh Thong suggested the Mekong Delta build a regional farm produce quality monitoring centre, launch new models in choosing varieties, and adopt post-harvest preservation technologies in the value chain of agricultural production, focusing on rice, farmed fish and fruit.
Seminar on international economic integration held in Tien Giang. The deputy minister also mentioned the opportunities and challenges brought by the FTAs. He said those deals will help boost trade between Vietnam and the EU and the TPP participating member nations, adding they will also open up a new chapter in improving economic growth, creating more jobs and raising income, he added.
However, Khanh recommended localities update information, grasp international commitments, speed up administrative procedure reform and promote competitiveness. New-style cooperatives piloted in Mekong Delta. The new-style cooperative model will be piloted in the Mekong Delta from to , an official said at a conference in Hau Giang province on July Priority will be given to consolidating and restructuring the operations of all regional existing cooperatives in line with the Law on Cooperatives , while increasing the numbers of members and their capital contribution.
The project also encourages the establishment of cooperatives in rice, fruit and seafood, while offering incentives to cooperatives and cooperative unions involved in agricultural value-chains. The MoPI will propose to the Government to give support to cooperatives that develop under an autonomous financial mechanism.
Under the project, training courses will be conducted to build the capacity of cooperative managerial and technical staff. It will strengthen connectivity in agricultural production, expand consumption markets, and develop the infrastructure facilities of cooperatives. Director of the Hau Giang Department of Agriculture and Rural Development Nguyen Van Dong pointed to the significant role of human resources in the efficient operation of new-style cooperatives, saying that they need to lure skilled and young intellectuals in the cooperative management boards.
According to Deputy Minister of Agriculture and Rural Development Tran Thanh Nam, the project will bring about a breakthrough in agriculture development in the Mekong Delta, particularly in the fields of rice, fruit and aquatic farming. The project aims to help farmers overcome disadvantages in the market, increase their benefits through a link to the agricultural value-chain, thus improving the socio-economic and cultural living conditions for local farmers, Nam said. Solutions to ensure budget collection plan. The tax sector has devised multiple measures to ensure the budget collection target is met in the second half of this year.
The agencies will give advice to local authorities on the establishment of a steering committee on boosting and managing the state budget collection. They also target a year-on-year increase of percent in budget collection. Other efforts include enhancing forecast and analysis abilities to make timely assessments on factors that may affect the plan, and creating a feasible projection of budget collection based on data on economic situation and collection policies.
Weekly exchanges with taxpayers will be organised to address difficulties faced by enterprises, contributing to improving the investment environment. Classification of taxpayers will also be conducted for better management. According to the General Department of Taxation, state budget collection in the first half of this year was estimated at The amount represents The shortfalls seen in the other localities mainly stem from increasing numbers of company dissolutions, bankruptcies and halting of operations.
Other factors include natural calamities and the plunging price of crude oil. Additionally, the decreasing demand in house construction in the UK will directly impact on the Vietnamese wood sector, he added. The volume of timber products imported from Vietnam to the market is likely to reduce in the future, he said. Phuc suggested businesses update information and map out solutions to deal with different market scenarios because there would be changes on tax, exchange rate, customs fees and procedures in the future.
Alarm for FDI sector in environmental protection. At the same time, FDI projects in Vietnam, mostly run by Asian investors, have medium technology using large amounts of natural resources and releasing high emissions. Between and , FDI mostly flowed to such areas as apparel, chemicals, electronics, paper and iron with many latent risks of environment pollution. Meanwhile, from to , only 28 out of 16, FDI projects, or 0.
Some serious environmental incidents have been recorded, changing the ecosystem and affecting economic growth and social security at the sites. Notably, the Vedan company in the southern province of Dong Nai released its untreated wastewater to the Thi Vai River over 14 years, while the Miwon company in the northern province of Phu Tho let cubic meters of wastewater out to the Red River.
Opportunities for food and beverage businesses boost trade. This year, domestic manufacturers will bring to the exhibition clean products cultivated and processed in line with environmentally-friendly and non-toxic standards such as organic rice, honey, bird nest and cereals. Highlight of the event will be the display of processed poultry products from the Associations of Poultry Processor and Poultry Trade in Poland and the European Union. Business-to-business B2B meetings will be organised during the exhibition to connect domestic and foreign poultry businesses. The food and beverage processing industry has great potential in Vietnam.
Being a tropical agricultural country, Vietnam has abundant resources — a significant input for the processing industry. A large domestic consumption market with low labour costs coupled with strong equitisation of food enterprises has made the sector full of vitality, according to the organising board. The exhibition was first held in After 19 exhibitions witnessing significant and rapid changes in the market, from the initial purpose of serving consumers' basic needs, the food and beverage industry has become a sector with considerable market share accounting for 15 percent of the gross domestic product, and it will continue to grow.
Hanoi: export revenue hit over 5. Hanoi reeled in more than 5. Exports with good growth included garment-textile which brought in million USD, followed by machinery-equipment-component million USD , and means of transport and spare part million USD. Electronic products, footwear and leather goods and handicrafts also posted increases in export revenues.
By contrast, computer components and agricultural produce saw lower turnover compared to the equivalent period last year. In June alone, the capital city earned million USD from exports, increasing 3. Overall, Hanoi has recorded robust economic performance in the first half of , with its gross regional domestic product GRDP gaining 7. LG Innotek says considering building camera module plant in Vietnam. The Republic of Korea's LG Innotek Co Ltd said on Wednesday it is considering building a plant in Vietnam to manufacture camera modules, without disclosing further details.
The Korea Economic Daily newspaper reported earlier in the day that LG Innotek plans to build a camera module plant in response to demands from smartphone camera module clients like LG Electronics Inc and Apple Inc, citing unnamed sources. LG Innotek said in a regulatory filing that no specifics for a Vietnam plant have been determined. Vega Balls unveils plans for new factory in Quang Ninh. Vega Balls Manufacturing Co Ltd, a leading producer of sports balls with production facilities located in Taiwan, Thailand and Vietnam has announced plans to construct a second plant in Vietnam.
The new 32, square metre facility will be located at the Dong Mai Industrial Park in the northern province of Quang Ninh. No specific details on the estimated cost have been released. It is expected to be placed into operation in early Cai Mep-Thi Vai port improvement. Spurred by numerous complaints of underdeveloped infrastructure, logistics service shortcomings and fierce competition made by foreign joint venture ports in the Cai Mep-Thi Vai port complex in the southern province of Ba Ria-Vung Tau, the Ministry of Transport is now moving forward measures to increase its operational efficiency.
These ongoing problems have made the Cai Mep-Thi Vai port complex less attractive to transport firms. It costs up to VND4. Another big concern facing foreign joint venture ports is shortfalls in comprehensive and sustainable port master planning and development. Project name: Assessing the impact of climate change and sea level rise on marine biodiversity of coastal Khanh Hoa province; assessing the impacts on the livelihoods of coastal communities and proposed adaptation and response plans. Professional staff-months provided by professional staff and associated consultant: 10 months.
Dang Dinh Duc. Project name: Update on the Action plan to respond to climate change in Hung Yen province. Tran Ngoc Anh. A brief description of the project: Assessing the impact of climate change and updating action plan to respond to climate change in Hung Yen Province. Project name: Collection, calculation, analysis, processing and compilation of the hydro-meteorological documents for establishing the investment projects — Bao Lam 1 Hydropower Construction, Cao Bang province.
Professional staff-months provided by professional staff and associated consultant: 0,5 month. A brief description of the project: Collection, calculation, analysis, processing and compilation of the hydro-meteorological documents for establishing the investment projects — Bao Lam 1 Hydropower Construction, Cao Bang province. Dr Tran Ngoc Anh Leader.
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Client address: No. Professional staff-months provided by professional staff and associated consultant: 3 months. A brief description of the project: provide the scientific basis of hydrological system to propose the biodiversity conservation solutions for buffer zone and core area of Phong Nha-Ke Bang National Park.
Professional staff-months provided by professional staff and associated consultant: 48 months. Tran Tan Tien Leader. A brief description of the project: Install and transfer the continuous digital technology of weather and surf forecasting in Quang Ngai province to provide prevention and mitigation of natural disasters. Professional staff-months provided by professional staff and associated consultant: 4 months. Professional staff-months provided by professional staff and associated consultant: 7 months. Dr Tran Ngoc Anh Coordinator. A brief description of the project: Establish a model of standing organization to prevent disaster for provincial.
Project name: Calculation of the meteo-marine characteristics for establishing the project of designing marine structure in DK I area. Professional staff-months provided by professional staff and associated consultant: 5 months. Dinh Van Uu Project Director. Project name: Assessing the impacts of Climate change and Sea level rise on the infrastructure system in the coastal area of Khanh Hoa province. Professional staff-months provided by professional staff and associated consultant: 30 months.
Tran Ngoc Anh Coordinator. A brief description of the project: Assess the impacts of Climate change and sea level rise on the infrastructure system in the coastal area of Khanh Hoa province. Project name: Development of warning system for salinity intrusion at downstream river system of Thanh Hoa province, and capacity building for local staff in the operation of irrigation structures. A brief description of the project: Development of warning system for salinity intrusion at downstream river system of Thanh Hoa province, and Capacity building for local staff in the operation of irrigation structures.
Project name: Data collection and evaluation of the initial impacts of the National Target Program to respond to Climate change. Professional staff-months provided by professional staff and associated consultant: 50 months. Nguyen Quang Minh Project Leader. Professional staff-months provided by professional staff and associated consultant:.
Contract No. Professional staff-months provided by professional staff and associated consultant: 42 months. Tran Quang Duc. Professional staff-months provided by professional staff and associated consultant months. Dinh Van Uu. A brief description of the project: Consulting to indentify scenarios to adapt and prevent the impact of climate change in Binh Thuan Province.
Professional staff-months provided by professional staff and associated consultant: months. A brief description of the project: Consult and assess the impact, the vulnerability of climate change on Phu Quy island and proposal of adaptation measures. Professional staff-months provided by professional staff and associated consultant: 1 months. A brief description of the project: Studying the scientific basis and proposing the integrated solutions to stabilize the coastline areas in Nam Dinh Province from Ba Lat estuary to Day estuary.
A brief description of the project: Cooperation for compiling and calculating the hydrometeorological data for the project of upgrading and expanding the 1A Highway. Professional staff-months provided by professional staff and associated consultant: 2 months. Materials for survey of 5 stations:. Materials for survey of 4 stations:. A brief description of the project: measuring, sampling and analyzing of the environmental parameters including soil, water in the region which is expected to construct The marine economy zone in the southeast of Quang Tri.
Analyze surface water quality in the wells which is being exploited.