Deputy PM pushes CPI measures

Deputy Prime Minister Vuong Dinh Hue has urged the Government’s Steering Committee for Price Management to keep consumer price index (CPI) growth below 4 per cent in 2018.

This could be done by minimising external impacts on domestic prices, he said.

Speaking at a meeting of the committee in Ha Noi on Tuesday, Deputy PM Hue, who also heads the committee, said CPI growth in the first four months of this year was in line with the scenario set by the group thanks to a coordination in price management efforts between ministries.

However, he said higher prices of oil, gas, pork and food, plus complex developments in the global market over the past two months have put huge pressures on price management efforts.

Nguyen Anh Tuan, director of the Finance Ministry’s Price Management Department, said CPI expanded by 3.01 per cent in the first five months of 2018.

The ministry forecast that factors such as floods, the adjustment of prices of health care and education services, along with an increase in the basic salary and environmental tax on fuels, would put more pressure on CPI.

This pressure would eventually ease, however, thanks to stable demand for fresh food in the summer, a decrease of 10-15 per cent in medicine prices under the centralised bidding programme for drugs, and stable interest rates, among others.

Deputy Minister of Industry and Trade Do Thang Hai said his ministry has instructed the Electricity of Viet Nam (EVN) to save production costs to maintain current retail power prices, while closely coordinating with the Ministry of Finance to effectively and harmoniously use the oil and gas stabilisation fund.

Deputy Minister of Transport Le Dinh Tho said Build-Operate-Transfer (BOT) toll stations have adjusted road fees in line with the Government’s instructions and stabilised prices of seaport and airport services.

Concluding the working session, Deputy PM Hue said it is possible to keep CPI growth below 4 per cent in 2018.

He asked the ministries to maintain the prices of goods managed by the State and continue with review work to accelerate the decrease in prices of products such as drugs and medical equipment.

The Ministry of Agriculture and Rural Development and other relevant ministries were asked to maintain the rice export structure, control the number of pig farms, and actively negotiate with China to ship more Vietnamese fruits there.

The Deputy PM also urged the Health Ministry to push the centralised bidding of drugs and the bidding of medical equipment, while promptly issuing a circular to replace Circular No 37. The new circular should come into force on July 15, 2018 and stipulate a decrease in the process of 80 kinds of medical services. 

CPI increases 0.55 percent in May

Can Tho posts high export growth

The Mekong Delta city of Can Tho earned an estimated 618.5 million USD from exports in the first five months of this year, up 20 percent year on year. 

Director of the city’s Planning and Investment Department Nguyen Van Hong reported to the regular meeting of the municipal People’s Committee on May 30 that the figure was equal to 43.9 percent of the yearly export value target. 

Most staple goods posted good growth compared to the same period last year, such as rice with increases of 26.5 percent in volume (316,050 tonnes) and 24.2 percent in value (nearly 134 million USD). Aquatic products brought home 226.4 million USD, up 18.56 percent with shipment volume rising nearly 33 percent to 63,484 tonnes. 

Some other minor exports also enjoyed high increases in value, such as fine art and handicraft up 31.2 percent, garment 41.3 percent, and steel products 147.4 percent.  

The good performance of export is attributable to efforts of relevant agencies and enterprises in the city in seeking new markets and improving product quality.  

In 2017, trade promotion activities helped Can Tho lure investment and increase export revenue.

The city earned nearly 1.8 billion USD from export and service revenue, 5.9 percent above its goal and 13.9 percent higher than the figure in 2016.

Can Tho is the only city in the Mekong Delta and a development driving force of the Southwest region.

Vietnam owns special advantages for fintech development: ADB economist

Vietnam owns special advantages, especially in the IT sector, which can be a basis for the development of financial technology (fintech) towards financial inclusion, according to Dominic Mellor, senior economist of the Asian Development Bank (ADB).

He made the remark at the Fintech Vietnam Forum 2018 in Hanoi on May 30, noting that the ADB is always ready to assist the SBV in both encouraging fintech development and perfecting legal framework in the field.

At the event, participants shared fintech development trends in the time ahead and management measures in this field in some countries.

Governor of the State Bank of Vietnam (SBV) Le Minh Hung said fintech and banking can contribute to financial inclusion, poverty reduction, social equality and sustainable economic development. Over the past years, the central bank has actively held dialogues with fintech businesses to remove obstacles in a timely manner and help them enter the market.

Since 2008, the SBV has permitted many companies to provide payment services on a trial basis to meet market demand. After setting up a relatively clear legal framework, it has officially licensed 27 intermediary payment service providers.

A steering committee on fintech was also established by the SBV in March 2017 to devise solutions to facilitate the development of fintech enterprises in Vietnam, he noted, adding that many banks have cooperated with fintech companies to provide relevant services, which has been a growing cooperation trend in recent years.

The development of fintech and cooperation between fintech firms and banks are considered prerequisites for promoting Vietnamese users’ access to financial and banking services.

SBV Deputy Governor Nguyen Kim Anh, head of the steering committee on fintech, noted the central bank will ask for the Prime Minister’s permission to build a regulatory sandbox framework for fintech businesses and start-ups to test their new products and services under the SBV’s supervision, thus minimising risks for clients and relevant sides.

Through the Mekong Business Initiative, the Fintech Vietnam Forum was co-organised by the ADB, the Australian Government, and the SBV.

Five-month import-export value hits 182.8 billion USD

Vietnam’s total import-export value was estimated at 182.8 billion USD in the first five months of this year, up 11.9 percent annually, said the General Department of Customs on May 30. 

Of the figure, export earnings hit 93.1 billion USD, up 15.8 percent while import value rose 8.2 percent to 89.7 billion USD. 

Shipment of mobile phones and accessories soared 19.8 percent annually to 19.48 billion USD. Apparel export reached 10.68 billion USD, up 13.3 percent while computers, electronics and spare parts brought home 10.9 billion USD, up 14.2 percent year-on-year. 

Aquatic products earned 3.15 billion USD from export, up 11.1 percent annually. 

In May alone, the country’s total foreign trade hit 38.9 billion USD, up 9.4 percent month-on-month. Of which, 19.2 billion USD was export revenue, marking a 4.5 percent rise and the remaining was import value, surging 14.5 percent. 

Vietnam spent 6.14 billion USD on importing computers, electronics and accessories in five months, up 14.1 percent. Another 13 billion USD was used to buy machinery, equipment, and tools while 5.18 billion USD was spent on mobile phones and accessories, up 1.3 percent. 

Fabric import hit 5.1 billion USD, up 13 percent annually. 

The country ran a trade deficit of 500 million USD, but a trade surplus of 3.4 billion USD for the January-May period.

Vietnamese firms contribute to Cambodia’s development: Ambassador

Vietnamese businesspeople in Cambodia serve as an important bridge to foster the traditional friendship between the two countries, making contributions to the development of the host nation.

Vietnamese Ambassador to Cambodia Vu Quang Minh made the remark at a gathering of Vietnamese businesses in Cambodia on May 30. The event, organised by the Vietnamese Embassy in Cambodia, aimed to help Vietnamese entrepreneurs share their experience in doing business in the country. 

He said the event affords participants a chance to raise ideas to build support policy and facilitate their effective operations in the near future. 

Vietnamese Commercial Counsellor in Cambodia Le Bien Cuong said the Vietnamese Party, State and people always encourage the development of Vietnamese firms in Cambodia. 

Vietnam ranks sixth among countries investing in Cambodia, mostly in agriculture, services, banking, insurance and consumer goods. 

Participants shared advantages and disadvantages in doing business in the country and wished that their difficulties would be removed by the two countries’ ministries and agencies. 

Concluding the event, Ambassador Minh vowed to gather businesses’ feedback to submit to Vietnamese and Cambodian authorities, thus facilitating their operations.

HCM City has eyes on India as potential tourism market

Ho Chi Minh City’s Tourism Department is launching plans to attract more visitors from India, which is considered a market of great potential.

At the May meeting on socio-economic issues of the municipal People’s Committee on May 30, Director of the department Bui Ta Hoang Vu said his agency is working with several airlines to promote Vietnam to India. He noted that while 1.6 million Indians travelled to Thailand in 2017, only 170,000 visited Vietnam.

The low-cost airline Vietjet Air is scheduled to open direct flights between HCM City and India this September.

The Tourism Department has developed products designed for this market and held some tourism promotion activities in the country.

Vu added that the department has also asked local restaurants to design dishes specifically for Indian guests.

It was reported at the meeting that an estimated 566,390 foreign tourists arrived in the city in May, up 37 percent year on year. Revenues from tourism came to around 9.3 trillion VND (over 406 million USD), up 3.03 percent.

For the January-May period, the total number of foreign arrivals was 3.18 million, a 32 percent increase, while tourism revenues were estimated at 51.65 trillion VND, up 14.8 percent.

A recent survey jointly conducted by the Tourism Department and the municipal Statistics Office showed tourists both domestic and foreign stay for an average 5 days in the city and spend around 145 USD a day, which showed a reduction in stay duration compared to a survey of the Vietnam National Tourism Administration in 2013 but the spending stays the same.

Chairman of the People’s Committee Nguyen Thanh Phong stressed that tourism has been defined as a spearhead economic sector of the city. He urged the sector to study ways to keep visitors stay longer.

Russia’s Republic of Bashkortostan eyes stronger ties with Vietnam

The Republic of Bashkortostan of Russia wants to promote trade cooperation with Vietnamese localities in many fields, especially in producing oil and gas, and agriculture, said President of Bashkortostan Rustem Khamitov. 

Rustem made the statement during a meeting with Ambassador of Vietnam to Russia Ngo Duc Manh, who was on a working visit to Bashkortostan’s Ufa capital city from May 28-30.

While highlighting potential and strengths of Bashkortostan, he said the authority welcomes Vietnam’s TH True Milk Group’s project to breed dairy cows and process milk in Bashkortostan. 

Over 3,000 ha of land are ready for the project, and the authority will create favourable conditions for the Vietnamese firm to successfully implement the project, he added. 

He revealed that officials from the southern province of Ba Ria-Vung Tau of Vietnam would visit Bashkortostan to bolster cooperation between the twinned localities. 

For his part, Ambassador Manh pledged to do his utmost to further promote the traditional friendship and comprehensive strategic partnership between Vietnam and Russia, including connection among the two countries’ localities, especially in economic, trade and investment link, and in training experts working in the oil and gas industry. 

During his stay, Manh met with representatives from the State Committee for Foreign Economic Relations, the Bashkortostan Development Agency, and those from the Vietnamese community in the locality. He also visited Ufa State Petroleum Technological University (USPTU), and the petrochemical research institute Birintex.

Telefilm expo 2018 attracts 150 exhibitors

The latest equipment and technologies used in the film and television industry will be showcased at the sixth Vietnam International Exhibition on Film and Television Technology (Telefilm) organised at the Saigon Exhibition and Convention Centre in Ho Chi Minh City from June 7-9.

As many as 150 exhibitors from 15 countries and territories worldwide, including India, Japan, Taiwan (China), Thailand, and the Republic of Korea, will display their products at more than 200 booths at the event.

Organised by Vietnam Television and the ADPEX Joint Stock Company, the Telefilm will offer investors and visitors opportunity to meet potential partners and access to up-to-date international film and television trends.

Several seminars will be held on the sidelines of the event, focusing on current television trends amid rapid digitalisation in the TV industry globally and in Vietnam specifically.

Festival promotes consumption of Thanh Ha litchi

The first-ever Thanh Ha litchi festival will be organised in the northern province of Hai Duong on June 10 to promote consumption of the local specialty fruit, the organising board said at a press conference on May 30.

The festival is designed to create opportunities for local farmers to connect with supermarkets, and processing and export firms while facilitating the signing of contracts, memorandum of understanding on the consumption of litchi and other agricultural products.

An array of activities will be held during the festival, including tours to the ancient litchi tree in Thuy Lam village, Thanh Son commune, Thanh Ha district; visits to VietGAP litchi gardens; and boat tours to visit litchi orchard along Huong river, among others. Visitors can also try their hand at picking litchi in gardens in Thanh Ha district and Chi Linh town. 

Hai Duong litchi received the geographical indication from the Ministry of Science and Technology National Office of Intellectual Property in 2007. The local fruit was in Top 10 quality products in 2013 and 2014 and received the Gold Brand prize in 2015.

The Vietnam Association of Food Science and Technology granted a “trustful and safe food brand” certificate for Thanh Ha litchi in 2016. The same year, the ancient litchi tree in Thuy Lam village was recognised as the oldest of its kind in Vietnam.

According to Nguyen Thi Ha, Vice Director of the provincial Department of Industry and Trade, the province has 10,500 hectares of litchi, which are expected to yield 55,000-60,000 tonnes of fruit this year. The harvest time is from May 15 to the end of June.

Currently, 131.68 hectares of local litchi cultivation are qualified for exports to the US, EU and Australia. The province is also home to 334 hectares of litchi grown in accordance with VietGAP standards.

Besides domestic market, Thanh Ha litchi has increased its presence outside the country. The fruit has been sold in Australia, Canada, China, France, Malaysia, the Philippines, Singapore, Sweden, Thailand, the United Arab Emirates and the US.

HCM City customs revenues drop in first half

Revenue from the customs sector in HCM City fell in the first five months of the year due to a decline in import tax rates agreed to under several trade agreements that took effect earlier this year, according to the city’s Customs Department.   

The information was released at a meeting held on May 30 to review the city’s socio-economic development in the first five months of the year.

Customs revenue reached VNĐ39.500 trillion (US$1.72 billion) in the first five months, accounting for nearly 37 per cent of the plan, a drop of more than 6 per cent over the same period last year.

The Customs Department was asked to target VNĐ108 trillion in collections for the city’s budget this year, VNĐ1 trillion lower than the target set last year.

But because customs revenue is expected to fall by about VNĐ11 trillion in 2018, it will be difficult for the department to achieve the target. 

The meeting also discussed problems related to overloaded infrastructure at seaports.

Cát Lái Port in District 2 remains overloaded, with the surrounding area suffering from traffic congestion most of the time, while the other ports are operating at a much lower capacity (30 per cent).

Cái Mép Port is also operating at a much lower capacity, because some container trucks want to avoid Highway 51, which is not in good condition.

In the first five months, the city’s total revenue reached VNĐ155.217 trillion ($6.78 billion), with many kinds of taxes increasing over the same period, such as corporate income tax,VAT, personal income tax and registration tax.

The city’s total retail sales of goods and services increased over the same period, contributing significantly to overall economic growth.

Retail activities of the city have been focused on quality and good performance, ensuring supply of goods for people’s daily needs.

Speaking at the meeting, Nguyễn Thành Phong, chairman of the municipal People’s Committee, said the city’s economy, however, was facing many challenges.

Phong asked the Department of Industry and Trade to continue developing a list of key products that would create high added value.  

He urged the HCM City Investment Trade Promotion Centre to prepare for the coming major events, including a conference on co-operation in trade and investment promotion in the southern region and investment promotion conferences in the city and in the Central Highlands province of Gia Lai.

The centre has also been asked to improve investment and trade and promotion activities with other countries.

In addition, Phong asked that the Department of Culture, Sports and Tourism to continue improving the quality of tourism products and services, focusing on water tourism. 

Da Lat vegetable prices plunge     

Prices of vegetables have fallen in Da Lat, itself a vegetable growing hub, due to imports from China, traders said.

Nguoi Lao Dong (The Labourer) newspaper reported that many traders in the districts of Lac Duong, Don Duong and Duc Trong recently imported large volumes of cheap Chinese vegetables.

As a result, prices of local produce have plummeted, and farmers and traders have been unable to sell their stocks despite cutting prices, it said.

The prices of some vegetables have fallen by 50 per cent.

Potato costs only VND7,000 per kilogramme, half the price a year ago, onion costs around VND3,000 and carrot, VND2,000-3,000. Last year all of them were selling at above VND10,000.

Tran Thanh Nha, a farmer in Don Duong District, has planted vegetables on 1.5ha.

In previous years two traders would regularly come to his farm to buy his vegetables, but this year they deposited VND50 million (US$2,100) and had not returned, he said.

He called them many times but they did not reply, he said.

Nguyen Thi Phuong Binh of Da Lat has grown onions but cannot sell them now.

“Traders bargain for under VND5,000 per kilogramme. At this price, I lose since the wages for harvesting is around VND250,000 per day,” she told the newspaper.

Nguyen The Hien of the Da Lat market management board said not only farmers but also traders at the market face difficulties due to the low prices.

Many traders who have been doing business at the market for a long time have closed their shops since they are unable to sell Da Lat vegetables, something he had never seen happen before, he said.

Not only individuals but also large companies have been hit.

Nguyen Thi Anh Tuyet, deputy director of Anh Dao Agriculture Service Co-operative, said while her co-operative has not been affected by the competition from Chinese products, it has been hit by the low prices.

Local farmers blame the situation on the cheap imports from China, admitting that vegetables and fruits from China look good and are cheap. Even local specialities like cherries are unable to compete with the Chinese products, they lamented.

Many people have been warning for a long time about the threat from Chinese vegetable imports but little has been done to local production.

Le Thi Huong of Don Duong District said some companies imported vegetables from China and then attached Da Lat labels.

Tran Thanh Vu, head of Tan Duong District’s economic and infrastructure department, said a large quantity Chinese imports is not sold locally meaning authorities are unable to prevent fake labelling and other dubious activities.

There is no prohibition against import of Chinese products, he said.

Nguyen Van Son, director of the Lam Dong Province Department of Agriculture, told The Labourer that the province has adopted many methods to ensure the quality and origin of products.

Farmers and traders do co-operate with each other to protect the Da Lat trademark, but it would take more time to achieve critical mass, he said. 

Viet Nam, Indonesia boost cooperation in construction, property     

Viet Nam and Indonesia sought to boost cooperation in construction and property at a business forum in Ha Noi on Wednesday.

The event was organised by the Embassy of the Republic of Indonesia and the Viet Nam Federation of Civil Engineering Association.

“The forum aims to improve cooperation between Indonesia and Viet Nam in construction and property businesses in an effort to promote wide opportunities and achieve the target of bilateral trade worth US$10 billion by 2020,” said Ibnu Hadi, Indonesian ambassador to Viet Nam.

According to him, bilateral trade between the two countries in 2017 saw an increase of 16.36 per cent to reach $6.50 million from $5.58 million in 2016. This two-way trade comprised $3.63 million worth of Indonesian exports to Viet Nam (an increase of 22.51 per cent), while Indonesian imports amounted to $2.61 million (an increase of 9.37 per cent).

With populations of more than 260 million and 96 million in 2017, respectively, Indonesia and Viet Nam are among the fastest growing economies in the world. With a gross domestic product rate of 5.17 per cent and 6.81 per cent, Indonesia’s and Viet Nam’s per capita income in 2017 were $3,859 and $2,385, respectively, Hadi said.

According to the embassy, Indonesia’s investment in Việt Nam during 2017 was valued at $45.84 million, taking the total number of projects in Việt Nam to 69 worth $477.02 million. Last year, Indonesia ranked 30th among investor countries in Viet Nam. Meanwhile, Viet Nam has invested in eight projects in Indonesia in mining, media and manufacture processing industry worth $51 million.

For Indonesia, the growth of the real estate sector is dependent on infrastructure, which is predicted to grow at 5.9 per cent every year between 2017 and 2026, outperforming the overall construction industry’s projected annual growth rate of 3.9 per cent. Both residential and non-residential sectors will benefit from Indonesia’s strong demographics and a high urbanisation rate of 53 per cent.

“Although the investment cooperation between the two countries is still relatively not as huge as with South Korea, Japan and Singapore, the inflow of Indonesian investment to Viet Nam continues to increase. Indonesian investors are starting to capitalise on the potential and market opportunities offered by Viet Nam,” Hadi said. 

High return from share sale     

The Asia Commercial Joint Stock Bank (ACB) may earn between VND1.3 trillion (US$57.8 million) and VND1.5 trillion from selling treasury shares, according to HCM City Securities Corp (HSC).

ACB is holding more than 41.4 million treasury shares out of its 1.12 billion listed on the Ha Noi Stock Exchange, equal to 4.03 per cent of the total shares.

The bank bought those treasury shares back from investors in January 2015, May 2014 and July 2013 for an average price level of VND16,080 (71.5 US cents) per share.

HSC said in a recent report there has been no news about of the bank selling its treasury, however, it could be a good way to increase its charter capital.

If ACB decides to sell at the current market price, it could generate VND1.3 trillion to VND1.5 trillion in profit that could be added into the bank’s share premium.

ACB shares closed Wednesday at VND38,400 per share, nearly 2.4 times the average price the bank paid.

ACB has some VND3 trillion worth of guarantees related to various loans, including stocks and some real estate projects. The bank is forecast to sell entire or a part of those assets in the next few years, HSC said.

HSC also forecast that ACB would record VND6 trillion in pre-tax profit, a yearly increase of 127 per cent.

Total lending and raised deposit would rise 18 per cent each to VND234 trillion and VND284 trillion at the end of the year, HSC said, adding that the bank’s net interest margin (NIM) rate would increase to 3.55 per cent from 3.48 per cent in 2017.

ACB would be able to reduce its provision set aside to pay for anticipated future losses by 81 per cent as it would clear entire VAMC bonds and loans to eight companies involved in the prosecution of the bank’s former chairman Nguyen Duc Kien, HSC said. The bank’s non-performing ratio is also estimated at 0.8 per cent this year.

CapitaLand runaway leader as PropertyGuru awards nominees announced     

The shortlist of nominees for the 2018 PropertyGuru Vietnam Property Awards have been announced after they were chosen by an independent panel of judges.

A total of 25 companies have made it to the list in the competition categories. The fourth annual awards have 43 categories, including new awards in the categories of building communities, design and construction, customer care, and public facilities.

The competition is welcoming returning and new entrants amid the launch of many world-class projects across the country.

Leading the shortlist is CapitaLand Vietnam with 16 nominations. It had been chosen best developer last year.

The second-most nominated developer is Alpha King, whose luxury condo project Alpha City has been shortlisted in six categories across development and design.

Tied in third place are Gamuda Land and KIEN A Corporation with eight appearances each on the list, including for Best Mid End Condo Development and Best Affordable Condo Development, respectively.

KIEN A Corporation’s founding chairman Huynh Ba Lan has been named Vietnam Real Estate Personality of the Year, an award not selected by the jury but by editors of PropertyGuru Property Report magazine.

Lan was chosen for leading an organisation that prioritises developing quality projects for lower-income consumers and building schools to international standards.

The exclusive gala dinner on June 22 at the InterContinental Saigon Hotel ballroom is the award’s biggest edition yet.

Organisers expect the black-tie ceremony to be attended by nearly 500 guests and members of the media.

Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards, said: “Viet Nam real estate is fast becoming a major draw for investors in the Asia-Pacific because of its acclaimed offerings in the condominium, hotel, resort and mixed-use segments.

“Whilst HCM City and Ha Noi continue to be the main engines of the industry, it is encouraging that a provincial location such as Khanh Hoa now has a strong domestic market that developers there can be recognised on an internationally-known platform like the PropertyGuru Vietnam Property Awards.” 

Tracodi targets over $50m revenue this year     

Transport and Industry Development Investment Joint Stock Company (Tracodi) has targeted a revenue of VND1.15 trillion (US$50.44 million) and an after-tax profit of VND77.1 billion in 2018.

The year-on-year increase would be five per cent and three per cent, respectively, revealed the company’s report preparing for the upcoming annual shareholders’ meeting on June 15, 2018.

In the revenue structure of 2018, the commercial segment is expected to account for the largest share, contributing some VND450 billion, followed by infrastructure and real estate projects with VND390 billion. The stone exploitation project with the joint venture Antraco is expected to contribute VND300 billion, the remaining will come from the labour export and training projects.

This year, Tracodi plans to invest in a high-rise apartment complex at No.89 Cach Mang Thang Tam, District 1, HCM City, which is also the headquarters of the company. The project has an area of 1,048sq.m with total investment capital of VND850 billion. Currently, Tracodi is carrying out procedures for investment approval.

The company’s board of directors also plans to pay dividends in 2017 at the rate of 10 per cent in shares, through the issuance of 3.4 million shares.

Tracodi has 28 years of operating history in many fields such as infrastructure construction, taxi transportation, quarrying and labor export.

In May 2017, the company listed 32.48 million shares on the HCM Stock Exchange at a reference price of VND16,000 a share.

Bamboo Capital is currently the parent company owning Tracodi’s 50.61 per cent stake.

Customers can use QR code to buy petrol     

Individual customers will be able to pay for petrol using the QR code technology in petrol stations of the PetroVietnam Oil Corporation (PV Oil).

This was announced by Cao Hoai Duong, general director of PV Oil, at the meeting of shareholders and investors.

Duong said the “PVOIL Easy” programme managed the purchase of gasoline using QR code (quick response code, also known as bar code matrix on mobile devices) for PVOIL members.

Every QR code issued to a driver contains complete personal information, including the driver’s name, licence number and gasoline purchase limit. When drivers buy gasoline at PV Oil’s petrol station, they will only need to use their personal phones containing QR codes to make payment.

At the same time, all transaction information, including the location where drivers buy gasoline and the amount and type of gasoline purchased, will be sent to the drivers and owners of the vehicles as well as be stored on PVOIL’s system.

With the QR technology, both drivers and owners of transport service companies will not have to spend a lot of time to compare the amount of gasoline traded daily, Duong said.

Thanks to its advantages, the PVOIL Easy programme has been positively received by many transportation companies, such as Viettel Post, as well as other private transportation companies, after nearly four months of implementation.

PVOIL is the first petroleum business unit to use QR code technology. According to Duong, PVOIL plans to apply this programme to individual customers to make the QR code utility available to more customers in near future. 

Mercedes-Benz VN recalls 284 cars over faulty airbags     

Mercedes-Benz Viet Nam is recalling 284 vehicles over a wiring defect that could unexpectedly trigger faulty airbags.

According to the German car maker, the recalled vehicles include the GLA 200, GLA 250 4MATIC, AMG GLA 45 4MATIC, and the CLA 200. Others included in the recall list are the CLA 250, CLA 250 4MATIC, AMG CLA 45 4MATIC, and A 200, as well as the 9: A 250 and AMG A 45 4MATIC models. The recalled units were manufactured between November 2011 and July 2017.

Owners of the affected models have been told to contact their dealer immediately when the red airbag warning light appears on their dashboard. The cars, however, are safe to drive under normal conditions, Mercedes said.

The process of checking and repairing airbags is expected to take 60 minutes for each car.

The recall programme begins on May 28, 2018, and will end on December 31, 2022.

In April, Mercedes-Benz Viet Nam recalled 3,624 vehicles which it said were at risk of catching fire due to a potentially faulty fuse.

That recall, which runs until December 31, 2022, applies to its C200, C250, C300, and E200 models, as well as GLC 250 4MATIC and GLC 300 4MATIC units, which were manufactured between September 2015 and February 2017.

Fruit, vegetable exports hit 1.62 billion USD in five months

Vietnam earned 1.62 billion USD from exporting fruits and vegetables in the first five months of 2018, a year-on-year rise of 16.54 percent.

In May alone, the country grossed 303.1 million USD from selling fruits and vegetables abroad, up 10 percent against the same month last year, according to Vietnam Customs.

Fruit-vegetable was the second biggest foreign currency earner in the agricultural sector, after aquatic products.

Vietnamese fruits and vegetables have been sold across 60 countries and territories, including four main markets namely China, the US, Japan and the Republic of Korea.

In January-April, fruit-vegetable exports to most markets registered growth with China importing nearly 989 million USD worth of products, a year-on-year increase of 30.3 percent and 75 percent of fruit-vegetable export turnover.

The US came second with 39 million USD (up 12.3 percent), followed by Japan at 36.55 million USD (up 15.9 percent) and the Republic of Korea 34.78 million USD (up 13.28 percent).

Southeast Asian countries imported 56.39 million USD worth of fruits and vegetables, an annual rise of 19.4 percent and 4.3 percent of the fruit-vegetable export turnover.

Strong growth was also seen in markets such as France (up 41.3 percent) and Australia (up 34.9 percent).

Notably, Vietnamese fruits and vegetables were also exported to Thailand and Indonesia, which have strengths in agriculture.

In the period, Vietnam imported 575 million USD worth of fruits and vegetables, up 15.3 percent over the same period last year, according to the Ministry of Agriculture and Rural Development.

The country mainly purchased fruits and vegetables from Thailand, China and the US.

With the positive outcomes in 2017 and the first quarter of 2018, Vietnam is expected to gross 10 billion USD from exporting fruits and vegetables in the near future.

The country earned a record 3.45 billion USD from fruit and vegetable exports in 2017, a year-on-year rise of 40.5 percent, much higher than traditional staples like rice, crude oil and coffee.