Viet Nam exports 6 million tonnes of rice

Viet Nam has exported 6 million tonnes, worth US$2.5 billion, this year, said the Viet Nam Food Association (VFA).

The association said the export price of Vietnamese rice increased sharply from between $5 and $20 per tonne earlier this month to $450 per tonne for 25 per cent broken rice and to $495 per tonne for 5 per cent broken rice.

The country expects to export 6.5 million tonnes of rice this year.

More traders to be licensed to import gold

More banks and gold traders will be given licences to import gold in an effort to stabilise the market, according to the State Bank of Viet Nam.

Four out of the eight units currently licensed to import gold have imported only one-third of the permitted volume.

The bank will allow imports during a two-week period in which gold traders will have time to consider the most optimal time to import gold and minimise risks.

After the central bank made its recent announcement, the gold price on the domestic market fell sharply by VND400,000 to VND35.85 million per tael last Saturday. (A tael is equivalent to 1.2 ounces.)

Nguyen Thi Cuc, deputy general director of Phu Nhuan Jewellery Joint Stock Company, said gold transactions at the company's shop chain dropped significantly.

Last Friday, the company sold about 1,000 taels and bought 600 taels, much lower compared with previous days, Cuc said.

Independent market analysts said that the central bank's new gold import plan had been caused by a recent bout of feverish gold trading and soaring prices, multiplying many times in the past week alone.

After collecting information from various sources, the central bank decided to assign gold import quotas for a number of new gold traders with stable foreign reserves in order to change the prevailing market psychology, they said.

HCM City to host watch, jewelry exhibition next month

The International Jewellery and Watch Exhibition will be held at the Tan Binh International Exhibition and Convention Centre from December 9-12 in HCM City and at the capital's Fortuna Hotel from December 16-19.

The exhibition is an opportunity for customers to buy cosmetics and watches of famous brand names from France, Hong Kong, India, Italy, Japan and Malaysia.

Japanese invested firm wins equipment contract worth $5.1m

Drilling Mud Joint Stock Corporation (DMC) and the Viet Nam-Japan Technology and Science Equipment (Vijatech) have signed a US$5.1 million contract.

Under the contract, Vijatech will supply cleaning equipment systems for DMC's tankers and floating oil storage. Cleaning equipment systems will help DMC develop its services.

Businesses receive lessons in managing supply chains

The HCM City-based Viet Nam Supply Chain yesterday launched the Viet Nam Supply Chain Academy with a training programme for local companies in the industry.

The programme, sponsored by the German logistics firm Schenker, aimed to improve supply-chain practices and increase the organisational capability of local firms through workshops, training and assessment of supply-chain management, said Eckart Dutz, co-founder of VSC and general director of Cartrige World.

Villas priced at $450,000 and more in Dong Nai Province

As many as 59 villas in the Sen Phuong Nam Villa Project on Dai Phuoc Lotus Island of Dong Nai Province went on sale last Thursday, with prices ranging from VND3.5-9 billion (US$175,000-450,000).

Work began in April on the $64 million project, which covers over 22ha and features 332 units with amenities including a boat wharf, green parks, playgrounds, tennis courts and swimming pools.

Show villas and part of the boat wharf will be completed in early 2011 and from the second quarter of 2012, buyers will begin to take ownership of their properties.

The project is within a larger one, the Dai Phuoc Ecological Tourist Urban Area in Nhon Trach District. It is being developed by Vina Dai Phuoc Joint Stock Company, established by the asset management firm VinaCapital and the Development Investment and Construction Corporation.

South African business council debuts

The Viet Nam-South Africa joint business council made its debut in HCM City last Friday with the aim of providing an effective channel between enterprises and governmental agencies of the two countries.

Do Thi Kim Lien, general director of AAA Insurance Company and Consul of Honour of South Africa in Viet Nam, was named the President of the council.

In her address at the launching ceremony, Lien said the council's official operation would act as a bridge for enterprises in both countries to boost co-operation.

Visiting South African Deputy Minister of Water and Environmental Affairs Rejoice Mabudafhasi attended the launch and invited Vietnamese enterprises to visit South Africa to seek investment opportunities.

The Viet Nam-South Africa joint business council aims to help strengthen co-operation between business circles of both countries in many areas of trade, investment, science, technology and tourism.

Deputy General Secretary of the Viet Nam Chamber of Commerce and Industry Vo Tan Thanh said South Africa had emerged as a new market with great potential for Vietnamese enterprises.

Trade turnover between the two countries has seen marked results in recent years. In 2009, Viet Nam earned US$218 million from exports to South Africa and paid $78 million for imports.

In the first five months of this year, two-way trade hit $241 million, including $160 million worth of Vietnamese exports.

Viet Nam exports rice, footwear, garments and textiles, coffee, wood products, and fine arts and handicrafts to South Africa. Rice accounts for about 50-60 per cent of the's total export value so far this year.

Source: VNS